Brandywine Operating Partnership (BDN) 10-K 26 Feb 25 2024 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2024	Feb. 18, 2025	Jun. 30, 2024
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity Registrant Name	Brandywine Realty Trust
Entity Incorporation, State or Country Code	MD
Entity File Number	001-9106
Entity Tax Identification Number	23-2413352
Entity Address, Address Line One	2929 Arch Street
Entity Address, Address Line Two	Suite 1800
Entity Address, City or Town	Philadelphia
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19104
City Area Code	610
Local Phone Number	325-5600
Title of 12(b) Security	Common Shares of Beneficial Interest
Trading Symbol	BDN
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 743,992,592
Entity Common Stock, Shares Outstanding		173,070,657
Documents Incorporated by Reference	Portions of the proxy statement for the 2024 Annual Meeting of Shareholders of Brandywine Realty Trust are incorporated by reference into Part III of this Form 10-K.
Entity Central Index Key	0000790816
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
BRANDYWINE OPERATING PARTNERSHIP, L.P.
Document Information [Line Items]
Entity Registrant Name	Brandywine Operating Partnership, L.P.
Entity Incorporation, State or Country Code	DE
Entity File Number	000-24407
Entity Tax Identification Number	23-2862640
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Central Index Key	0001060386

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Auditor Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Philadelphia, Pennsylvania
Auditor Firm ID	238

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Real estate investments:
Operating properties	$ 3,374,780	$ 3,542,232
Accumulated depreciation	(1,171,803)	(1,131,792)
Right of use asset - operating leases, net	18,412	19,031
Operating real estate investments, net	2,221,389	2,429,471
Construction-in-progress	94,628	135,529
Land held for development	81,318	82,510
Prepaid leasehold interests in land held for development, net	27,762	27,762
Total real estate investments, net	2,425,097	2,675,272
Cash and cash equivalents	90,229	58,319
Restricted cash and escrows	5,948	9,215
Accounts receivable	12,703	11,977
Accrued rent receivable, net of allowance of $909 and $2,672 as of December 31, 2024 and December 31, 2023, respectively	184,312	186,708
Investment in unconsolidated real estate ventures	570,455	601,227
Deferred costs, net	84,317	95,984
Intangible assets, net	5,505	7,694
Other assets	113,647	86,051
Total assets	3,492,213	3,732,447
LIABILITIES AND BENEFICIARIES' EQUITY
Secured term loans, net	275,338	255,671
Unsecured term loans, net	318,949	318,499
Unsecured senior notes, net	1,618,527	1,564,662
Accounts payable and accrued expenses	129,717	123,825
Distributions payable	26,256	26,017
Deferred income, gains and rent	35,414	24,248
Intangible liabilities, net	7,292	8,270
Lease liability - operating leases	23,546	23,369
Other liabilities	12,587	63,729
Total liabilities	2,447,626	2,408,290
Commitments and contingencies (See Note 19)
Brandywine Realty Trust's Equity:
Common Shares of Brandywine Realty Trust's beneficial interest, $0.01 par value; shares authorized 400,000,000; 172,665,995 and 172,097,661 issued and outstanding as of December 31, 2024 and December 31, 2023, respectively	1,724	1,719
Additional paid-in-capital	3,182,621	3,163,949
Deferred compensation payable in common shares	20,456	19,965
Common shares in grantor trust, 1,221,333 and 1,194,127 issued and outstanding as of December 31, 2024 and December 31, 2023, respectively	(20,456)	(19,965)
Cumulative earnings	783,499	979,406
Accumulated other comprehensive income (loss)	2,521	(668)
Cumulative distributions	(2,931,730)	(2,827,022)
Total Brandywine Realty Trust's equity	1,038,635	1,317,384
Noncontrolling interests	5,952	6,773
Total beneficiaries' equity	1,044,587	1,324,157
Total liabilities and beneficiaries' equity	$ 3,492,213	$ 3,732,447

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accrued rent receivable, allowance	$ 909	$ 2,672
Common stock, par or stated value per share (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common shares in grantor trust, issued and outstanding (in shares)	1,221,333	1,194,127

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue
Total revenue	$ 505,517	$ 514,651	$ 506,100
Operating expenses
Property operating expenses	129,890	129,885	130,209
Real estate taxes	47,726	49,974	53,645
Third party management expenses	9,714	10,088	10,547
Depreciation and amortization	178,168	188,797	177,984
General and administrative expenses	42,781	34,862	35,006
Provision for impairment	44,655	131,573	4,663
Total operating expenses	452,934	545,179	412,054
Gain on sale of real estate
Net gain on disposition of real estate	2,297	7,736	17,677
Net gain on sale of undepreciated real estate	0	1,211	8,007
Total gain on sale of real estate	2,297	8,947	25,684
Operating income (loss)	54,880	(21,581)	119,730
Other income (expense):
Interest expense	(116,306)	(95,456)	(68,764)
Interest expense - amortization of deferred financing costs	(5,000)	(4,369)	(3,091)
Equity in loss of unconsolidated real estate ventures	(191,585)	(77,915)	(22,016)
Net gain on real estate venture transactions	56,750	181	26,718
Gain (loss) on early extinguishment of debt	941	138	(435)
Net income (loss) before income taxes	(196,473)	(197,331)	54,047
Income tax provision	(14)	(72)	(55)
Net income (loss)	(196,487)	(197,403)	53,992
Net (income) loss attributable to noncontrolling interests	580	614	(168)
Net income (loss) attributable to Brandywine Realty Trust	(195,907)	(196,789)	53,824
Nonforfeitable dividends allocated to unvested restricted shareholders	(1,178)	(567)	(456)
Net income (loss) attributable to common shareholders, Basic	$ (197,085)	$ (197,356)	$ 53,368
Basic income (loss) per Common Share (in dollars per shares)	$ (1.14)	$ (1.15)	$ 0.31
Diluted income (loss) per Common Share (in dollars per share)	$ (1.14)	$ (1.15)	$ 0.31
Basic weighted average shares outstanding (in shares)	172,526,996	171,959,210	171,491,369
Diluted weighted average shares outstanding (in shares)	172,526,996	171,959,210	172,325,646
BRANDYWINE OPERATING PARTNERSHIP, L.P.
Revenue
Total revenue	$ 505,517	$ 514,651	$ 506,100
Operating expenses
Property operating expenses	129,890	129,885	130,209
Real estate taxes	47,726	49,974	53,645
Third party management expenses	9,714	10,088	10,547
Depreciation and amortization	178,168	188,797	177,984
General and administrative expenses	42,781	34,862	35,006
Provision for impairment	44,655	131,573	4,663
Total operating expenses	452,934	545,179	412,054
Gain on sale of real estate
Net gain on disposition of real estate	2,297	7,736	17,677
Net gain on sale of undepreciated real estate	0	1,211	8,007
Total gain on sale of real estate	2,297	8,947	25,684
Operating income (loss)	54,880	(21,581)	119,730
Other income (expense):
Interest and investment income	3,847	1,671	1,905
Interest expense	(116,306)	(95,456)	(68,764)
Interest expense - amortization of deferred financing costs	(5,000)	(4,369)	(3,091)
Equity in loss of unconsolidated real estate ventures	(191,585)	(77,915)	(22,016)
Net gain on real estate venture transactions	56,750	181	26,718
Gain (loss) on early extinguishment of debt	941	138	(435)
Net income (loss) before income taxes	(196,473)	(197,331)	54,047
Income tax provision	(14)	(72)	(55)
Net income (loss)	(196,487)	(197,403)	53,992
Nonforfeitable dividends allocated to unvested restricted shareholders	(1,178)	(567)	(456)
Net income (loss) attributable to common shareholders, Basic	$ (197,670)	$ (197,948)	$ 53,538
Basic income (loss) per Common Share (in dollars per shares)	$ (1.14)	$ (1.15)	$ 0.31
Diluted income (loss) per Common Share (in dollars per share)	$ (1.14)	$ (1.15)	$ 0.31
Basic weighted average shares outstanding (in shares)	173,042,591	172,475,645	172,036,481
Diluted weighted average shares outstanding (in shares)	173,042,591	172,475,645	172,870,758
Rents
Revenue
Total revenue	$ 469,242	$ 479,849	$ 470,851
Rents | BRANDYWINE OPERATING PARTNERSHIP, L.P.
Revenue
Total revenue	469,242	479,849	470,851
Third party management fees, labor reimbursement and leasing
Revenue
Total revenue	23,742	24,417	24,132
Third party management fees, labor reimbursement and leasing | BRANDYWINE OPERATING PARTNERSHIP, L.P.
Revenue
Total revenue	23,742	24,417	24,132
Other
Revenue
Total revenue	12,533	10,385	11,117
Other | BRANDYWINE OPERATING PARTNERSHIP, L.P.
Revenue
Total revenue	$ 12,533	$ 10,385	$ 11,117

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)		$ (196,487)	$ (197,403)	$ 53,992
Comprehensive income (loss):
Unrealized gain (loss) on derivative financial instruments		3,200	(4,579)	5,371
Amortization of interest rate contracts	[1]	0	0	564
Total comprehensive income (loss)		3,200	(4,579)	5,935
Comprehensive income (loss)		(193,287)	(201,982)	59,927
Comprehensive (income) loss attributable to noncontrolling interest		569	628	(186)
Comprehensive income (loss) attributable to Brandywine Realty Trust		$ (192,718)	$ (201,354)	$ 59,741
[1] Amounts reclassified from comprehensive income to interest expense within the Consolidated Statements of Operations.

CONSOLIDATED STATEMENTS OF BENE

CONSOLIDATED STATEMENTS OF BENEFICIARIES’ EQUITY - USD ($) $ in Thousands	Total	Common Stock	Rabbi Trust/Deferred Compensation Shares	Additional Paid-in Capital	Common Shares in Grantor Trust	Cumulative Earnings	Accumulated Other Comprehensive Income (Loss)	Cumulative Distributions	Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2021		171,126,257	1,169,703
Beginning balance at Dec. 31, 2021	$ 1,701,219	$ 1,712	$ 18,491	$ 3,146,786	$ (18,491)	$ 1,122,372	$ (2,020)	$ (2,578,583)	$ 10,952
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	53,992					53,824			168
Other comprehensive income (loss)	5,935						5,917		18
Redemption of LP Units	(4,006)								(4,006)
Share-based compensation activity (in shares)		469,529	85,384
Share-based compensation activity	7,718	$ 4		7,714
Share Issuance from/(to) Deferred Compensation Plan (in shares)		(25,979)	(75,444)
Share Issuance from/(to) Deferred Compensation Plan	(312)		$ 1,110	(312)	(1,110)
Reallocation of Noncontrolling Interest	(1)			(959)		(1)			959
Distributions declared	(131,211)							(130,822)	(389)
Ending balance (in shares) at Dec. 31, 2022		171,569,807	1,179,643
Ending balance at Dec. 31, 2022	1,633,334	$ 1,716	$ 19,601	3,153,229	(19,601)	1,176,195	3,897	(2,709,405)	7,702
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(197,403)					(196,789)			(614)
Other comprehensive income (loss)	(4,579)						(4,565)		(14)
Share-based compensation activity (in shares)		545,544	76,505
Share-based compensation activity	10,880	$ 3		10,877
Share Issuance from/(to) Deferred Compensation Plan (in shares)		(17,690)	(62,021)
Share Issuance from/(to) Deferred Compensation Plan	(108)		$ 364	(108)	(364)
Reallocation of Noncontrolling Interest	0			(49)					49
Distributions declared	(117,967)							(117,617)	(350)
Ending balance (in shares) at Dec. 31, 2023		172,097,661	1,194,127
Ending balance at Dec. 31, 2023	1,324,157	$ 1,719	$ 19,965	3,163,949	(19,965)	979,406	(668)	(2,827,022)	6,773
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(196,487)					(195,907)			(580)
Other comprehensive income (loss)	3,200						3,189		11
Share-based compensation activity (in shares)		601,706	114,537
Share-based compensation activity	18,892	$ 5		18,887
Share Issuance from/(to) Deferred Compensation Plan (in shares)		(33,372)	(87,331)
Share Issuance from/(to) Deferred Compensation Plan	(159)		$ 491	(159)	(491)
Reallocation of Noncontrolling Interest	0			(56)					56
Distributions declared	(105,016)							(104,708)	(308)
Ending balance (in shares) at Dec. 31, 2024		172,665,995	1,221,333
Ending balance at Dec. 31, 2024	$ 1,044,587	$ 1,724	$ 20,456	$ 3,182,621	$ (20,456)	$ 783,499	$ 2,521	$ (2,931,730)	$ 5,952

CONSOLIDATED STATEMENTS OF BE_2

CONSOLIDATED STATEMENTS OF BENEFICIARIES’ EQUITY (Parenthetical) - $ / shares	3 Months Ended	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Distributions declared (in dollars per share)	$ 0.15	$ 0.60	$ 0.68	$ 0.76

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income (loss)	$ (196,487)	$ (197,403)	$ 53,992
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	178,168	188,797	177,984
Amortization of deferred financing costs	5,000	4,369	3,091
Amortization of debt discount/(premium), net	(2,421)	(1,056)	(5,254)
Amortization of stock compensation costs	16,889	9,847	8,939
Straight-line rent income	(6,015)	(9,270)	(13,631)
Amortization of acquired above (below) market leases, net	(919)	(1,256)	(2,581)
Straight-line ground rent expense	784	799	814
Net gain on real estate venture transactions	(56,750)	(181)	(26,718)
Total gain on diposition of real estate	(2,297)	(8,947)	(25,684)
Gain (loss) on early extinguishment of debt	(941)	(138)	435
Provision for impairment	44,655	131,573	4,663
Loss from unconsolidated real estate ventures, including income distributions	191,585	77,915	23,522
Income tax provision	14	72	55
Changes in assets and liabilities:
Accounts receivable	(13)	241	1,328
Other assets	(7,087)	(2,831)	(1,120)
Accounts payable and accrued expenses	953	(12,928)	5,405
Deferred income, gains and rent	13,128	(86)	1,567
Other liabilities	2,879	(2,244)	2,500
Net cash provided by operating activities	181,125	177,273	209,307
Cash flows from investing activities:
Acquisition of properties	0	(7,747)	(3,446)
Proceeds from the sale of properties	155,867	76,804	64,210
Proceeds from note receivable	0	0	44,300
Capital expenditures for tenant improvements	(72,792)	(48,939)	(86,774)
Capital expenditures for redevelopments	(18,398)	(59,984)	(87,223)
Capital expenditures for developments	(38,570)	(47,537)	(89,017)
Advances to and from the purchase of tenant assets, net of repayments	1,699	(998)	(447)
Investment in unconsolidated real estate ventures	(194,027)	(85,922)	(47,428)
Deposits for real estate	0	3,500	(4,900)
Capital distributions from unconsolidated real estate ventures	56,593	3,790	46,898
Leasing costs paid	(10,557)	(7,879)	(26,762)
Net cash used in investing activities	(120,185)	(174,912)	(190,589)
Cash flows from financing activities:
Proceeds from credit facility borrowings	201,000	215,000	478,000
Repayments of credit facility borrowings	(201,000)	(303,500)	(412,500)
Proceeds from unsecured notes	400,000	0	350,000
Repayments of unsecured notes	(339,059)	(64,164)	(296,134)
Proceeds from unsecured term loan	0	70,000	0
Proceeds from secured term loan	0	245,000	0
Proceeds from construction loan	18,911	13,824	0
Debt financing costs paid	(6,334)	(4,371)	(9,875)
Shares used for employee taxes upon vesting of share awards	(1,028)	(371)	(2,941)
Redemption of limited partnership units	0	(5)	(4,006)
Distributions paid to shareholders	(104,479)	(124,255)	(130,724)
Distributions to noncontrolling interest	(308)	(372)	(451)
Net cash provided by (used in) financing activities	(32,297)	46,786	(28,631)
Increase/(Decrease) in cash and cash equivalents and restricted cash	28,643	49,147	(9,913)
Cash and cash equivalents and restricted cash at beginning of year	67,534	18,387	28,300
Cash and cash equivalents and restricted cash at end of period	96,177	67,534	18,387
Reconciliation of cash and cash equivalents and restricted cash:
Cash and cash equivalents, beginning of period	58,319	17,551	27,463
Restricted cash, beginning of period	9,215	836	837
Cash and cash equivalents, end of period	90,229	58,319	17,551
Restricted cash, end of period	5,948	9,215	836
Cash and cash equivalents and restricted cash	96,177	67,534	18,387
Supplemental disclosure:
Cash paid for interest, net of capitalized interest during the years ended December 31, 2024, 2023 and 2022 of $18,360, $16,410 and $10,517 respectively	132,253	107,838	85,761
Cash paid for income taxes	571	550	902
Supplemental disclosure of non-cash activity:
Dividends and distributions declared but not paid	26,256	26,017	32,792
Extinguishment of debt costs accrued in financing activities	0	0	393
Change in investment in real estate ventures as a result of deconsolidation	0	8,595	107,057
Change in operating real estate from deconsolidation of operating properties	0	(7,814)	(92,009)
Change in other assets as a result of deconsolidation of operating properties	0	0	(15,048)
Change in notes receivable from sale of properties	19,919	0	0
Change in capital expenditures financed through accounts payable at period end	5,369	(3,282)	(6,135)
Change in capital expenditures financed through retention payable at period end	$ (3,188)	$ 2,715	$ (7,165)

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Supplemental disclosure:
Capitalized interest	$ 18,360	$ 16,410	$ 10,517

CONSOLIDATED BALANCE SHEETS - B

CONSOLIDATED BALANCE SHEETS - BRANDYWINE OPERATING PARTNERSHIP, L.P. - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Real estate investments:
Operating properties	$ 3,374,780	$ 3,542,232
Accumulated depreciation	(1,171,803)	(1,131,792)
Right of use asset - operating leases, net	18,412	19,031
Operating real estate investments, net	2,221,389	2,429,471
Construction-in-progress	94,628	135,529
Land held for development	81,318	82,510
Prepaid leasehold interests in land held for development, net	27,762	27,762
Total real estate investments, net	2,425,097	2,675,272
Cash and cash equivalents	90,229	58,319
Restricted cash and escrows	5,948	9,215
Accounts receivable	12,703	11,977
Accrued rent receivable, net of allowance of $909 and $2,672 as of December 31, 2024 and December 31, 2023, respectively	184,312	186,708
Investment in unconsolidated real estate ventures	570,455	601,227
Deferred costs, net	84,317	95,984
Intangible assets, net	5,505	7,694
Other assets	113,647	86,051
Total assets	3,492,213	3,732,447
LIABILITIES AND PARTNERS' EQUITY
Secured term loans, net	275,338	255,671
Unsecured term loans, net	318,949	318,499
Unsecured senior notes, net	1,618,527	1,564,662
Accounts payable and accrued expenses	129,717	123,825
Distributions payable	26,256	26,017
Deferred income, gains and rent	35,414	24,248
Intangible liabilities, net	7,292	8,270
Lease liability - operating leases	23,546	23,369
Other liabilities	12,587	63,729
Total liabilities	2,447,626	2,408,290
Commitments and contingencies (See Note 19)
Brandywine Operating Partnership, L.P.'s equity:
Accumulated other comprehensive income (loss)	2,521	(668)
Total liabilities and beneficiaries' equity	3,492,213	3,732,447
BRANDYWINE OPERATING PARTNERSHIP, L.P.
Real estate investments:
Operating properties	3,374,780	3,542,232
Accumulated depreciation	(1,171,803)	(1,131,792)
Right of use asset - operating leases, net	18,412	19,031
Operating real estate investments, net	2,221,389	2,429,471
Construction-in-progress	94,628	135,529
Land held for development	81,318	82,510
Prepaid leasehold interests in land held for development, net	27,762	27,762
Total real estate investments, net	2,425,097	2,675,272
Cash and cash equivalents	90,229	58,319
Restricted cash and escrows	5,948	9,215
Accounts receivable	12,703	11,977
Accrued rent receivable, net of allowance of $909 and $2,672 as of December 31, 2024 and December 31, 2023, respectively	184,312	186,708
Investment in unconsolidated real estate ventures	570,455	601,227
Deferred costs, net	84,317	95,984
Intangible assets, net	5,505	7,694
Other assets	113,647	86,051
Total assets	3,492,213	3,732,447
LIABILITIES AND PARTNERS' EQUITY
Secured term loans, net	275,338	255,671
Unsecured term loans, net	318,949	318,499
Unsecured senior notes, net	1,618,527	1,564,662
Accounts payable and accrued expenses	129,717	123,825
Distributions payable	26,256	26,017
Deferred income, gains and rent	35,414	24,248
Intangible liabilities, net	7,292	8,270
Lease liability - operating leases	23,546	23,369
Other liabilities	12,587	63,729
Total liabilities	2,447,626	2,408,290
Commitments and contingencies (See Note 19)
Redeemable limited partnership units at redemption value; 515,595 and 515,595 issued and outstanding as of December 31, 2024 and December 31, 2023, respectively	2,870	2,785
Brandywine Operating Partnership, L.P.'s equity:
General Partnership Capital; $172,665,995 and $172,097,661 units issued and outstanding as of December 31, 2024 and December 31, 2023, respectively	1,036,712	1,319,572
Accumulated other comprehensive income (loss)	2,190	(1,010)
Total Brandywine Operating Partnership, L.P.'s equity	1,038,902	1,318,562
Noncontrolling interest - consolidated real estate ventures	2,815	2,810
Total partners' equity	1,041,717	1,321,372
Total liabilities and beneficiaries' equity	$ 3,492,213	$ 3,732,447

CONSOLIDATED BALANCE SHEETS -_2

CONSOLIDATED BALANCE SHEETS - BRANDYWINE OPERATING PARTNERSHIP, L.P. (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Accrued rent receivable, allowance	$ 909	$ 2,672
BRANDYWINE OPERATING PARTNERSHIP, L.P.
Accrued rent receivable, allowance	$ 909	$ 2,672
Common stock, shares, issued (in shares)	172,665,995	172,097,661
Common stock, shares, outstanding (in shares)	172,665,995	172,097,661
BRANDYWINE OPERATING PARTNERSHIP, L.P. | Class A Units
Redeemable limited partnership units issued (in units)	515,595	515,595
Redeemable limited partnership units outstanding (in units)	515,595	515,595

CONSOLIDATED STATEMENTS OF OP_2

CONSOLIDATED STATEMENTS OF OPERATIONS - BRANDYWINE OPERATING PARTNERSHIP, L.P. - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue
Total revenue	$ 505,517	$ 514,651	$ 506,100
Operating expenses
Property operating expenses	129,890	129,885	130,209
Real estate taxes	47,726	49,974	53,645
Third party management expenses	9,714	10,088	10,547
Depreciation and amortization	178,168	188,797	177,984
General and administrative expenses	42,781	34,862	35,006
Provision for impairment	44,655	131,573	4,663
Total operating expenses	452,934	545,179	412,054
Gain on sale of real estate
Net gain on disposition of real estate	2,297	7,736	17,677
Net gain on sale of undepreciated real estate	0	1,211	8,007
Total gain on sale of real estate	2,297	8,947	25,684
Operating income (loss)	54,880	(21,581)	119,730
Other income (expense):
Interest expense	(116,306)	(95,456)	(68,764)
Interest expense - amortization of deferred financing costs	(5,000)	(4,369)	(3,091)
Equity in loss of unconsolidated real estate ventures	(191,585)	(77,915)	(22,016)
Net gain on real estate venture transactions	56,750	181	26,718
Gain (loss) on early extinguishment of debt	941	138	(435)
Net income (loss) before income taxes	(196,473)	(197,331)	54,047
Income tax provision	(14)	(72)	(55)
Net income (loss)	(196,487)	(197,403)	53,992
Nonforfeitable dividends allocated to unvested restricted shareholders	(1,178)	(567)	(456)
Net income (loss) attributable to common shareholders, Basic	$ (197,085)	$ (197,356)	$ 53,368
Basic income (loss) per Common Share (in dollars per shares)	$ (1.14)	$ (1.15)	$ 0.31
Diluted income (loss) per Common Share (in dollars per share)	$ (1.14)	$ (1.15)	$ 0.31
Basic weighted average shares outstanding (in shares)	172,526,996	171,959,210	171,491,369
Diluted weighted average shares outstanding (in shares)	172,526,996	171,959,210	172,325,646
Rents
Revenue
Total revenue	$ 469,242	$ 479,849	$ 470,851
Third party management fees, labor reimbursement and leasing
Revenue
Total revenue	23,742	24,417	24,132
Other
Revenue
Total revenue	12,533	10,385	11,117
BRANDYWINE OPERATING PARTNERSHIP, L.P.
Revenue
Total revenue	505,517	514,651	506,100
Operating expenses
Property operating expenses	129,890	129,885	130,209
Real estate taxes	47,726	49,974	53,645
Third party management expenses	9,714	10,088	10,547
Depreciation and amortization	178,168	188,797	177,984
General and administrative expenses	42,781	34,862	35,006
Provision for impairment	44,655	131,573	4,663
Total operating expenses	452,934	545,179	412,054
Gain on sale of real estate
Net gain on disposition of real estate	2,297	7,736	17,677
Net gain on sale of undepreciated real estate	0	1,211	8,007
Total gain on sale of real estate	2,297	8,947	25,684
Operating income (loss)	54,880	(21,581)	119,730
Other income (expense):
Interest and investment income	3,847	1,671	1,905
Interest expense	(116,306)	(95,456)	(68,764)
Interest expense - amortization of deferred financing costs	(5,000)	(4,369)	(3,091)
Equity in loss of unconsolidated real estate ventures	(191,585)	(77,915)	(22,016)
Net gain on real estate venture transactions	56,750	181	26,718
Gain (loss) on early extinguishment of debt	941	138	(435)
Net income (loss) before income taxes	(196,473)	(197,331)	54,047
Income tax provision	(14)	(72)	(55)
Net income (loss)	(196,487)	(197,403)	53,992
Net (income) loss attributable to noncontrolling interests - consolidated real estate ventures	(5)	22	2
Net income (loss) attributable to Brandywine Operating Partnership	(196,492)	(197,381)	53,994
Nonforfeitable dividends allocated to unvested restricted shareholders	(1,178)	(567)	(456)
Net income (loss) attributable to common shareholders, Basic	$ (197,670)	$ (197,948)	$ 53,538
Basic income (loss) per Common Share (in dollars per shares)	$ (1.14)	$ (1.15)	$ 0.31
Diluted income (loss) per Common Share (in dollars per share)	$ (1.14)	$ (1.15)	$ 0.31
Basic weighted average shares outstanding (in shares)	173,042,591	172,475,645	172,036,481
Diluted weighted average shares outstanding (in shares)	173,042,591	172,475,645	172,870,758
BRANDYWINE OPERATING PARTNERSHIP, L.P. | Rents
Revenue
Total revenue	$ 469,242	$ 479,849	$ 470,851
BRANDYWINE OPERATING PARTNERSHIP, L.P. | Third party management fees, labor reimbursement and leasing
Revenue
Total revenue	23,742	24,417	24,132
BRANDYWINE OPERATING PARTNERSHIP, L.P. | Other
Revenue
Total revenue	$ 12,533	$ 10,385	$ 11,117

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - BRANDYWINE OPERATING PARTNERSHIP, L.P. - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net income (loss)		$ (196,487)	$ (197,403)	$ 53,992
Comprehensive income (loss):
Unrealized gain (loss) on derivative financial instruments		3,200	(4,579)	5,371
Amortization of interest rate contracts	[1]	0	0	564
Total comprehensive income (loss)		3,200	(4,579)	5,935
Comprehensive income (loss)		(193,287)	(201,982)	59,927
Comprehensive (income) loss attributable to noncontrolling interest - consolidated real estate ventures		569	628	(186)
Comprehensive income (loss) attributable to Brandywine Realty Trust		(192,718)	(201,354)	59,741
BRANDYWINE OPERATING PARTNERSHIP, L.P.
Net income (loss)		(196,487)	(197,403)	53,992
Comprehensive income (loss):
Unrealized gain (loss) on derivative financial instruments		3,200	(4,579)	5,371
Amortization of interest rate contracts	[1]	0	0	564
Total comprehensive income (loss)		3,200	(4,579)	5,935
Comprehensive income (loss)		(193,287)	(201,982)	59,927
Comprehensive (income) loss attributable to noncontrolling interest - consolidated real estate ventures		(5)	22	2
Comprehensive income (loss) attributable to Brandywine Realty Trust		$ (193,292)	$ (201,960)	$ 59,929
[1] Amounts reclassified from comprehensive income to interest expense within the Consolidated Statements of Operations.

CONSOLIDATED STATEMENTS OF PART

CONSOLIDATED STATEMENTS OF PARTNERS’ EQUITY - USD ($) $ in Thousands	Total	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interest - Consolidated Real Estate Ventures	BRANDYWINE OPERATING PARTNERSHIP, L.P.	BRANDYWINE OPERATING PARTNERSHIP, L.P. Accumulated Other Comprehensive Income (Loss)	BRANDYWINE OPERATING PARTNERSHIP, L.P. Noncontrolling Interest - Consolidated Real Estate Ventures	BRANDYWINE OPERATING PARTNERSHIP, L.P. General Partner Capital
Beginning balance (in shares) at Dec. 31, 2021							171,126,257
Beginning balance at Dec. 31, 2021				$ 1,690,079	$ (2,366)	$ 2,834	$ 1,689,611
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ 53,992		$ 168	53,992		(2)	$ 53,994
Other comprehensive income (loss)	5,935	$ 5,917	18	5,935	5,935
Deferred compensation obligation (in shares)							(25,979)
Deferred compensation obligation	(312)			(312)			$ (312)
Repurchase and retirement of LP units				(4,006)			$ (4,006)
Share-based compensation activity (in shares)							469,529
Share-based compensation activity	7,718			7,718			$ 7,718
Adjustment of redeemable partnership units to liquidation value at period end				7,555			7,555
Distributions declared to general partnership unitholders				(130,822)			$ (130,822)
Ending balance (in shares) at Dec. 31, 2022							171,569,807
Ending balance at Dec. 31, 2022				1,630,139	3,569	2,832	$ 1,623,738
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(197,403)		(614)	(197,403)		(22)	$ (197,381)
Other comprehensive income (loss)	(4,579)	(4,565)	(14)	(4,579)	(4,579)
Deferred compensation obligation (in shares)							(17,690)
Deferred compensation obligation	(108)			(108)			$ (108)
Share-based compensation activity (in shares)							545,544
Share-based compensation activity	10,880			10,880			$ 10,880
Adjustment of redeemable partnership units to liquidation value at period end				60			60
Distributions declared to general partnership unitholders				(117,617)			$ (117,617)
Ending balance (in shares) at Dec. 31, 2023							172,097,661
Ending balance at Dec. 31, 2023				1,321,372	(1,010)	2,810	$ 1,319,572
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(196,487)		(580)	(196,487)		5	$ (196,492)
Other comprehensive income (loss)	3,200	$ 3,189	$ 11	3,200	3,200
Deferred compensation obligation (in shares)							(33,372)
Deferred compensation obligation	(159)			(159)			$ (159)
Share-based compensation activity (in shares)							601,706
Share-based compensation activity	$ 18,892			18,892			$ 18,892
Adjustment of redeemable partnership units to liquidation value at period end				(393)			(393)
Distributions declared to general partnership unitholders				(104,708)			$ (104,708)
Ending balance (in shares) at Dec. 31, 2024							172,665,995
Ending balance at Dec. 31, 2024				$ 1,041,717	$ 2,190	$ 2,815	$ 1,036,712

CONSOLIDATED STATEMENTS OF PA_2

CONSOLIDATED STATEMENTS OF PARTNERS’ EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
BRANDYWINE OPERATING PARTNERSHIP, L.P. | General Partner Capital
Distributions to general partnership unitholders (in dollars per share)	$ 0.60	$ 0.68	$ 0.76

CONSOLIDATED STATEMENTS OF CA_3

CONSOLIDATED STATEMENTS OF CASH FLOWS - BRANDYWINE OPERATING PARTNERSHIP L.P. - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income (loss)	$ (196,487)	$ (197,403)	$ 53,992
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	178,168	188,797	177,984
Amortization of deferred financing costs	5,000	4,369	3,091
Amortization of debt discount/(premium), net	(2,421)	(1,056)	(5,254)
Amortization of stock compensation costs	16,889	9,847	8,939
Straight-line rent income	(6,015)	(9,270)	(13,631)
Amortization of acquired above (below) market leases, net	(919)	(1,256)	(2,581)
Straight-line ground rent expense	784	799	814
Net gain on real estate venture transactions	(56,750)	(181)	(26,718)
Total gain on diposition of real estate	(2,297)	(8,947)	(25,684)
Gain (loss) on early extinguishment of debt	(941)	(138)	435
Provision for impairment	44,655	131,573	4,663
Loss from unconsolidated real estate ventures, including income distributions	191,585	77,915	23,522
Income tax provision	14	72	55
Changes in assets and liabilities:
Accounts receivable	(13)	241	1,328
Other assets	(7,087)	(2,831)	(1,120)
Accounts payable and accrued expenses	953	(12,928)	5,405
Deferred income, gains and rent	13,128	(86)	1,567
Other liabilities	2,879	(2,244)	2,500
Net cash provided by operating activities	181,125	177,273	209,307
Cash flows from investing activities:
Acquisition of properties	0	(7,747)	(3,446)
Proceeds from the sale of properties	155,867	76,804	64,210
Proceeds from note receivable	0	0	44,300
Capital expenditures for tenant improvements	(72,792)	(48,939)	(86,774)
Capital expenditures for redevelopments	(18,398)	(59,984)	(87,223)
Capital expenditures for developments	(38,570)	(47,537)	(89,017)
Advances to and from the purchase of tenant assets, net of repayments	1,699	(998)	(447)
Investment in unconsolidated real estate ventures	(194,027)	(85,922)	(47,428)
Deposits for real estate	0	3,500	(4,900)
Capital distributions from unconsolidated real estate ventures	56,593	3,790	46,898
Leasing costs paid	(10,557)	(7,879)	(26,762)
Net cash used in investing activities	(120,185)	(174,912)	(190,589)
Cash flows from financing activities:
Proceeds from credit facility borrowings	201,000	215,000	478,000
Repayments of credit facility borrowings	(201,000)	(303,500)	(412,500)
Proceeds from unsecured notes	400,000	0	350,000
Repayments of unsecured notes	(339,059)	(64,164)	(296,134)
Proceeds from unsecured term loan	0	70,000	0
Proceeds from secured term loan	0	245,000	0
Proceeds from construction loan	18,911	13,824	0
Debt financing costs paid	(6,334)	(4,371)	(9,875)
Shares used for employee taxes upon vesting of share awards	(1,028)	(371)	(2,941)
Redemption of limited partnership units	0	(5)	(4,006)
Distributions paid to preferred and common partnership units	(104,479)	(124,255)	(130,724)
Net cash provided by (used in) financing activities	(32,297)	46,786	(28,631)
Increase/(Decrease) in cash and cash equivalents and restricted cash	28,643	49,147	(9,913)
Cash and cash equivalents and restricted cash at beginning of year	67,534	18,387	28,300
Cash and cash equivalents and restricted cash at end of period	96,177	67,534	18,387
Reconciliation of cash and cash equivalents and restricted cash:
Cash and cash equivalents, beginning of period	58,319	17,551	27,463
Restricted cash, beginning of period	9,215	836	837
Cash and cash equivalents, end of period	90,229	58,319	17,551
Restricted cash, end of period	5,948	9,215	836
Cash and cash equivalents and restricted cash	96,177	67,534	18,387
Supplemental disclosure:
Cash paid for interest, net of capitalized interest during the years ended December 31, 2024, 2023 and 2022 of $18,360, $16,410 and $10,517 respectively	132,253	107,838	85,761
Cash paid for income taxes	571	550	902
Supplemental disclosure of non-cash activity:
Dividends and distributions declared but not paid	26,256	26,017	32,792
Extinguishment of debt costs accrued in financing activities	0	0	393
Change in investment in real estate ventures as a result of deconsolidation	0	8,595	107,057
Change in operating real estate from deconsolidation of operating properties	0	(7,814)	(92,009)
Change in other assets as a result of deconsolidation of operating properties	0	0	(15,048)
Change in notes receivable from sale of properties	19,919	0	0
Change in capital expenditures financed through accounts payable at period end	5,369	(3,282)	(6,135)
Change in capital expenditures financed through retention payable at period end	(3,188)	2,715	(7,165)
BRANDYWINE OPERATING PARTNERSHIP, L.P.
Cash flows from operating activities:
Net income (loss)	(196,487)	(197,403)	53,992
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	178,168	188,797	177,984
Amortization of deferred financing costs	5,000	4,369	3,091
Amortization of debt discount/(premium), net	(2,421)	(1,056)	(5,254)
Amortization of stock compensation costs	16,889	9,847	8,939
Straight-line rent income	(6,015)	(9,270)	(13,631)
Amortization of acquired above (below) market leases, net	(919)	(1,256)	(2,581)
Straight-line ground rent expense	784	799	814
Net gain on real estate venture transactions	(56,750)	(181)	(26,718)
Total gain on diposition of real estate	(2,297)	(8,947)	(25,684)
Gain (loss) on early extinguishment of debt	(941)	(138)	435
Provision for impairment	44,655	131,573	4,663
Loss from unconsolidated real estate ventures, including income distributions	191,585	77,915	23,522
Income tax provision	14	72	55
Changes in assets and liabilities:
Accounts receivable	(13)	241	1,328
Other assets	(7,087)	(2,831)	(1,120)
Accounts payable and accrued expenses	953	(12,928)	5,405
Deferred income, gains and rent	13,128	(86)	1,567
Other liabilities	2,879	(2,244)	2,500
Net cash provided by operating activities	181,125	177,273	209,307
Cash flows from investing activities:
Acquisition of properties	0	(7,747)	(3,446)
Proceeds from the sale of properties	155,867	76,804	64,210
Proceeds from note receivable	0	0	44,300
Capital expenditures for tenant improvements	(72,792)	(48,939)	(86,774)
Capital expenditures for redevelopments	(18,398)	(59,984)	(87,223)
Capital expenditures for developments	(38,570)	(47,537)	(89,017)
Advances to and from the purchase of tenant assets, net of repayments	1,699	(998)	(447)
Investment in unconsolidated real estate ventures	(194,027)	(85,922)	(47,428)
Deposits for real estate	0	3,500	(4,900)
Capital distributions from unconsolidated real estate ventures	56,593	3,790	46,898
Leasing costs paid	(10,557)	(7,879)	(26,762)
Net cash used in investing activities	(120,185)	(174,912)	(190,589)
Cash flows from financing activities:
Proceeds from credit facility borrowings	201,000	215,000	478,000
Repayments of credit facility borrowings	(201,000)	(303,500)	(412,500)
Proceeds from unsecured notes	400,000	0	350,000
Repayments of unsecured notes	(339,059)	(64,164)	(296,134)
Debt financing costs paid	(6,334)	(4,371)	(9,875)
Shares used for employee taxes upon vesting of share awards	(1,028)	(371)	(2,941)
Redemption of limited partnership units	0	(5)	(4,006)
Distributions paid to preferred and common partnership units	(104,787)	(124,627)	(131,175)
Net cash provided by (used in) financing activities	(32,297)	46,786	(28,631)
Increase/(Decrease) in cash and cash equivalents and restricted cash	28,643	49,147	(9,913)
Cash and cash equivalents and restricted cash at beginning of year	67,534	18,387	28,300
Cash and cash equivalents and restricted cash at end of period	96,177	67,534	18,387
Reconciliation of cash and cash equivalents and restricted cash:
Cash and cash equivalents, beginning of period	58,319	17,551	27,463
Restricted cash, beginning of period	9,215	836	837
Cash and cash equivalents, end of period	90,229	58,319	17,551
Restricted cash, end of period	5,948	9,215	836
Cash and cash equivalents and restricted cash	96,177	67,534	18,387
Supplemental disclosure:
Cash paid for interest, net of capitalized interest during the years ended December 31, 2024, 2023 and 2022 of $18,360, $16,410 and $10,517 respectively	132,253	107,838	85,761
Cash paid for income taxes	571	550	902
Supplemental disclosure of non-cash activity:
Dividends and distributions declared but not paid	26,256	26,017	32,792
Extinguishment of debt costs accrued in financing activities	0	0	393
Change in investment in real estate ventures as a result of deconsolidation	0	8,595	107,057
Change in operating real estate from deconsolidation of operating properties	0	(7,814)	(92,009)
Change in other assets as a result of deconsolidation of operating properties	0	0	(15,048)
Change in notes receivable from sale of properties	19,919	0	0
Change in capital expenditures financed through accounts payable at period end	5,369	(3,282)	(6,135)
Change in capital expenditures financed through retention payable at period end	$ (3,188)	$ 2,715	$ (7,165)

CONSOLIDATED STATEMENTS OF CA_4

CONSOLIDATED STATEMENTS OF CASH FLOWS - BRANDYWINE OPERATING PARTNERSHIP L.P. (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Cash Flows [Abstract]
Capitalized interest	$ 18,360	$ 16,410	$ 10,517

ORGANIZATION OF THE PARENT COMP

ORGANIZATION OF THE PARENT COMPANY AND THE OPERATING PARTNERSHIP	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION OF THE PARENT COMPANY AND THE OPERATING PARTNERSHIP	1. ORGANIZATION OF THE PARENT COMPANY AND THE OPERATING PARTNERSHIP Brandywine Realty Trust (the Parent “Company”) is a self-administered and self-managed real estate investment trust (“REIT”) engaged in the acquisition, development, redevelopment, ownership, management, and operation of a portfolio of office and mixed-use properties. The Parent Company owns its assets and conducts its operations through Brandywine Operating Partnership, L.P. (the “Operating Partnership”) and subsidiaries of the Operating Partnership. The Parent Company is the sole general partner of the Operating Partnership and, as of December 31, 2024, owned a 99.7% interest in the Operating Partnership. The Parent Company’s common shares of beneficial interest are publicly traded on the New York Stock Exchange under the ticker symbol “BDN.” The Parent Company, the Operating Partnership, and their consolidated subsidiaries are collectively referred to as the “Company.” As of December 31, 2024, the Company owned and consolidated 64 properties that contained an aggregate of approximately 12.1 million net rentable square feet (collectively, the “Properties”). The Company’s core portfolio of operating properties (the “Core Properties”) exclude properties under development or redevelopment properties, recently completed - not stabilized properties and properties held for sale. The Properties were comprised of the following as of December 31, 2024: Number of Properties Rentable Square Feet Office properties 59 11,006,099 Mixed-use properties 4 924,450 Core Properties 63 11,930,549 Recently completed - not stabilized property (a) 1 168,294 The Properties 64 12,098,843 (a) The Company reclassifies a Property from “development/redevelopment property” to “recently completed – not-stabilized property” after the date that the development or redevelopment of the Property is placed in service and prior to the time that the Property reaches at least 90% occupancy. At such time as the Property reaches at least 90% occupancy, the Company reclassifies the Property as a “Core Property.” As of December 31, 2024, the Company also owned economic interests in ten unconsolidated real estate ventures (see Note 4 “Investment in Unconsolidated Real Estate Ventures” for further information). The Properties and the properties owned by the unconsolidated real estate ventures are primarily located in or near Philadelphia, Pennsylvania; Austin, Texas; Washington, D.C.; Southern New Jersey; and Wilmington, Delaware. All references to building square footage, rentable square feet, acres, occupancy percentage, the number of buildings, and tax basis are unaudited. The Company conducts its third-party real estate management services business primarily through ten management companies (collectively, the “Management Companies”): Brandywine Realty Services Corporation (“BRSCO”), BDN Management Inc. (“BMI”), Brandywine Properties I Limited, Inc. (“BPI”), BDN Brokerage, LLC (“BBL”), Brandywine Properties Management, L.P. (“BPM”), Brandywine Brokerage Services, LLC (“BBS”), BDN GC Services LLC (“BGCS”), Brandywine Cira Brokerage, LLC (“BCB”), 3025 JFK TRS, LLC (“3025TRS”), and OCS/TRS Services (“OCS”). Each of BRSCO, BMI, BPI, 3025TRS, and OCS is a taxable REIT subsidiary. BBS, BBL, BPM, BGCS, and BCB are tax disregarded entities wholly owned by the taxable REIT subsidiary entities. As of December 31, 2024, the Operating Partnership owned, directly and indirectly, 100% of each of BRSCO, BMI, BPI, BBL, BPM, BBS, and BGCS. As of December 31, 2024, the Management Company subsidiaries were managing properties containing an aggregate of approximately 19.4 million net rentable square feet, of which approximately 12.1 million net rentable square feet relate to Properties owned by the Company and approximately 7.3 million net rentable square feet relate to properties owned by the unconsolidated real estate ventures.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation The Company consolidates variable interest entities (“VIEs”) in which it is considered to be the primary beneficiary. VIEs are entities in which the equity investors do not have sufficient equity at risk to finance their endeavors without additional financial support or that the holders of the equity investment at risk do not have a controlling financial interest. The primary beneficiary is defined by the entity having both of the following characteristics: (i) the power to direct those matters that most significantly impact the activities of the VIE and (ii) the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the VIE. For entities that the Company has the obligations to fund losses, its maximum exposure to loss is not limited to the carrying amount of its investments. The Company continuously assesses its determination of the primary beneficiary for each entity and assesses reconsideration events that may cause a change in the original determinations. As of December 31, 2024 and 2023, the Company included in its consolidated balance sheets consolidated VIEs having total assets of $37.2 million and $34.4 million, respectively, and total liabilities of $20.3 million and $21.5 million, respectively. When an entity is not deemed to be a VIE, the Company consolidates entities for which it has significant decision making control over the entity’s operations. The Company’s judgment with respect to its level of influence or control of an entity involves consideration of various factors including the form of the Company’s ownership interest, its representation in the entity’s governance, the size of its investment (including loans), estimates of future cash flows, its ability to participate in policy making decisions and the rights of the other investors to participate in the decision making process and to replace the Company as manager and/or liquidate the venture, if applicable. The Company’s assessment of its influence or control over an entity affects the presentation of these investments in the Company’s consolidated financial statements. In addition to evaluating control rights, the Company consolidates entities in which the outside partner has no substantive kick-out rights to remove the Company as managing member. The portion of the consolidated entities that are not owned by the Company is presented as noncontrolling interest as of and during the periods consolidated. All intercompany transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. The estimates and assumptions include, but are not limited to, the amount and timing of development/redevelopment costs and of Company obligations for such costs, including costs incurred through unconsolidated real estate ventures. The estimates and assumptions for development/redevelopment cost are highly judgmental, cover significant future time horizons and are sensitive to cost escalations, sales price escalations and timing and pricing of leasing activity, all of which may be affected by expectations about future market or economic conditions. Actual results could differ from these and other estimates. Operating Properties Operating properties are carried at historical cost less accumulated depreciation and impairment losses. The value of operating properties reflects their purchase price or development cost. Acquisition costs related to business combinations are expensed as incurred, whereas the costs related to asset acquisitions are capitalized as incurred. Costs incurred for the renovation and betterment of an operating property are capitalized to the Company’s investment in that property. Ordinary repairs and maintenance are expensed as incurred. Purchase Price Allocation For acquisitions of real estate or in-substance real estate that are accounted for as business combinations, we recognize the assets acquired (including the intangible value of acquired above- or below-market leases, acquired in-place leases and tenant relationship values), liabilities assumed, noncontrolling interests, and previously existing ownership interests at fair value as of the acquisition date. Any excess (deficit) of the consideration transferred relative to the fair value of the net assets acquired is accounted for as goodwill (bargain purchase gain). Acquisition costs related to business combinations are expensed as incurred. Acquisitions of real estate and in-substance real estate that do not meet the definition of a business are accounted for as asset acquisitions. The Company generally expects that acquisitions of real estate or in-substance real estate will not meet the definition of business and therefore are accounted for as asset acquisitions, unless specifically noted otherwise. The accounting model for asset acquisitions is similar to the accounting model for business combinations except that the acquisition consideration (including acquisition costs) is allocated to the individual assets acquired and liabilities assumed on a relative fair value basis. As a result, asset acquisitions do not result in recognition of goodwill or a bargain purchase gain. Additionally, because the accounting model for asset acquisitions is a cost accumulation model, preexisting interests in the acquired assets, if any, are not remeasured to fair value but continue to be accounted for at their historical cost. Direct acquisition costs are capitalized if an asset acquisition is probable. If we determine that an asset acquisition is no longer probable, no new costs are capitalized and all capitalized costs that are not recoverable are written off. The purchase price is allocated to the acquired assets and assumed liabilities, including land and buildings, as if vacant based on highest and best use for the acquired assets. The Company assesses and considers fair value of the operating properties based on estimated cash flow projections that utilize discount and/or capitalization rates that it deems appropriate, as well as available market information. Estimates of future cash flows are based on a number of factors including the historical operating results, known and anticipated trends, and market and economic conditions. The Company allocates the purchase price of properties considered to be business combinations and asset acquisitions to net tangible and identified intangible assets acquired based on fair values. Above-market and below-market in-place lease values for acquired properties are recorded based on the present value (using an interest rate which reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) the Company’s estimate of the fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining noncancellable term of the lease (including the below market fixed renewal periods that are considered probable, if applicable). Capitalized above-market lease values are amortized as a reduction of rental income over the remaining noncancellable terms of the respective leases. Capitalized below-market lease values are amortized as an increase to rental income over the remaining noncancellable terms of the respective leases, including any below market fixed-rate renewal option periods that are considered probable. Other intangible assets also include in-place leases based on the Company’s evaluation of the specific characteristics of each tenant’s lease and the Company’s overall relationship with the respective tenant. The Company estimates the cost to execute leases with terms similar to the remaining lease terms of the in-place leases, including leasing commissions, legal and other related expenses. This intangible asset is amortized to expense over the remaining term of the respective leases and any fixed-rate bargain renewal periods. Factors considered by the Company in this analysis include an estimate of the carrying costs during the expected lease-up periods considering current market conditions and costs to execute similar leases. In estimating carrying costs, the Company includes real estate taxes, insurance, and other operating expenses, and estimates of lost rents at market rates during the expected lease-up periods, which primarily range from four In the event that a tenant terminates its lease, the unamortized portion of each intangible, including in-place lease values and tenant relationship values, is charged to expense and market rate adjustments (above or below) are recorded to revenue. Depreciation and Amortization The costs of buildings and improvements are depreciated using the straight-line method based on the following useful lives: buildings and improvements (5 to 55 years) and tenant improvements (the shorter of (i) the life of the asset (1 to 16 years) or (ii) the lease term). Construction-in-Progress Project costs directly associated with the development or redevelopment and construction of a real estate project are capitalized as construction-in-progress. Construction-in-progress also includes costs related to ongoing tenant improvement projects. In addition, interest, real estate taxes, and other expenses that are directly associated with the Company’s development or redevelopment activities are capitalized beginning when activities necessary to ready the asset for its intended use are in progress and capital expenditures have been made and ending when the property is placed in service. Interest expense is capitalized using the Company’s weighted average interest rate. Internal direct costs are capitalized to projects in which qualifying expenditures are being incurred. See Note 3 “Real Estate Investments,” for more information related to the capitalization of project costs. Ground Leases The Company is the lessee under long-term ground leases classified as operating leases. The Company makes significant assumptions and judgments when determining the discount rate for the lease to calculate the present value of the lease payments. As the rate implicit in the lease is not readily determinable, the Company estimates the incremental borrowing rate (“IBR”) that it would need to pay to borrow, on a collateralized basis, an amount equal to the lease payments in a similar economic environment, over a similar lease term. The Company utilizes a market-based approach to estimate the IBR for each individual lease. The base IBR is estimated utilizing observable mortgage and corporate bond rates, which are then adjusted to account for considerations related to the Company’s credit rating and the lease term to select an incremental borrowing rate for each lease. The right of use assets and lease liabilities are presented as “Right of use asset - operating leases, net” and “Lease liability - operating leases”, respectively, on the consolidated balance sheet as of December 31, 2024 and 2023, respectively. The lease liabilities and right of use assets are amortized on a straight-line basis over the lease term with the corresponding expense classified in “Property operating expenses” on the consolidated statements of operations. The most recent CPI adjustment is used to determine the present value of the lease payments for an indexed lease and ultimately the right of use asset and corresponding lease liability. Rent payments for amounts in excess of this estimated growth rate will be expensed on a cash basis as incurred and are considered variable lease costs. Impairment of Real Estate Investments The Company reviews its real estate investments for impairment following the end of each quarter for each of its real estate investments where events or changes in circumstances indicate that the carrying amounts may not be recoverable. The Company updates leasing and other assumptions regularly, paying particular attention to real estate investments where there is an event or change in circumstances that indicates an impairment in value. Additionally, the Company considers strategic decisions regarding the future development plans for real estate investment under development and other market factors. For real estate investments to be held and used, the Company analyzes recoverability based on the estimated undiscounted future cash flows expected to be generated from the operations and eventual disposition of the assets over, in most cases, a 10-year hold period. If there is significant possibility that the Company will dispose of assets earlier, it analyzes the recoverability using a probability weighted analysis of the undiscounted future cash flows expected to be generated from the operations and eventual disposition of each asset using various probable hold periods. If the recoverability analysis indicates that the carrying value of the tested real estate investment is not recoverable, the real estate investment is written down to its fair value and an impairment is recognized in the amount of the excess of the carrying amount of the asset over its fair value. If and when the Company’s plans change, it revises its recoverability analysis to use cash flows expected from operations and eventual disposition of each asset using hold periods that are consistent with its revised plans. Estimated future cash flows used in such analysis are based on the Company’s plans for the real estate investment and its views of market economic conditions. The estimates consider assumptions, including but not limited to market rental rates, capitalization rates, and recent sales data for comparable real estate investments. Future cash flows are discounted when determining fair value of an asset. Most of these assumptions are influenced by our direct experience with the real estate investments and their markets as well as market data obtained from real estate leasing and brokerage firms. Impairment of Land Held for Development When demand for build-to-suit properties declines and the ability to sell land held for development deteriorates, or other market factors indicate possible impairment in the recoverability of land held for development, the land held for development is reviewed for impairment by comparing its fair value to its carrying value. If the estimated sales value is less than the carrying value, the carrying value is written down to its estimated fair value. Estimated fair value is generally determined using a market valuation approach, comparing the subject property to recent comparable market transactions in a similar location; or using estimated cash flows. Assets Held for Sale The Company generally reclassifies assets to held for sale when the transaction has been approved by its Board of Trustees, or by officers vested with authority to approve the transaction, and there are no known significant contingencies relating to the sale of the real estate investment within one year of the consideration date and the consummation of the transaction is otherwise considered probable. When a real estate investment is reclassified as held for sale, the Company stops depreciating the real estate investment and estimates the real estate investment’s fair value, net of selling costs. If the determination is made that the estimated fair value, net of selling costs, is less than the net carrying value of the real estate investment, an impairment is recognized, reducing the net carrying value of the real estate investment to estimated fair value less selling costs. For periods in which a real estate investment is classified as held for sale, the Company classifies the assets and liabilities, as applicable, of the real estate investment as held for sale on the consolidated balance sheet for such periods. Cash and Cash Equivalents Cash and cash equivalents are highly-liquid investments with original maturities of three months or less. The Company maintains cash equivalents in money market accounts with financial institutions in excess of insured limits, but believes this risk is mitigated by investing cash equivalents exclusively in or through major financial institutions. As such, available cash balances are appropriately reflected as cash and cash equivalents on the consolidated balance sheets. Restricted Cash and Escrows Restricted cash and escrows primarily consists of security deposits held on behalf of our tenants, interest reserves, as well as capital improvement and real estate tax escrows required under certain loan agreements. Restricted cash also includes cash held by qualified intermediaries for possible investments in like-kind exchanges in accordance with Section 1031 of the Internal Revenue Code in connection with sales of the Company’s properties. Accounts Receivable and Accrued Rent Receivable Generally, leases with tenants are accounted for as operating leases. Minimum lease payments under tenant leases are recognized on a straight-line basis over the term of the related lease. The cumulative difference between lease revenue recognized under the straight-line method and contractual lease payment terms are recorded as “Accrued rent receivable, net” on the consolidated balance sheets. Included in current tenant receivables are tenant reimbursements which are comprised of amounts recoverable from tenants for common area maintenance expenses and certain other recoverable expenses that are recognized as revenue in the period in which the related expenses are incurred. Accrued rent receivables are carried net of the allowances for doubtful accounts. The allowance for doubtful accounts is an estimate based on the Company's experience of the probability of future events confirming a loss and represents the estimated probable losses. The allowance is generally calculated by assigning risk factors by industry which are primarily based on the Company's historical collection and charge-off experience adjusted for current market conditions, which requires management's judgment. Investments in Unconsolidated Real Estate Ventures Under the equity method, investments in real estate ventures are recorded initially at cost and subsequently adjusted for equity in earnings, contributions, distributions, and impairments. The Company generally recognizes income and losses from the unconsolidated real estate ventures based on the venture's distribution priorities, which may be different from the Company's stated ownership percentage. For real estate ventures that are constructing assets to commence planned principal operations, the Company capitalizes interest expense to the extent that the capitalized interest is recoverable. In capitalizing interest expense, the Company uses its weighted average interest rate on its consolidated debt and its investment balance. Planned principal operations commence when the property is available to lease and at that point in time, the Company ceases capitalizing interest to its investment basis. At least quarterly, management assesses whether there are any other than temporary impairment indicators of the Company’s investments in unconsolidated real estate ventures. If any indicators of impairment are present, management calculates the fair value of the investment in the unconsolidated real estate venture. An investment is other than temporarily impaired only if the fair value of the investment, as estimated by management, is less than the carrying value and the decline is other than temporary. To the extent that an other than temporary impairment has occurred, an impairment charge is recorded in the amount of the excess of the carrying amount of the investment over the estimated fair value. Management is required to make significant judgments about the estimated fair value of the Company's investments to determine if an impairment exists. Fair value is generally determined through income valuation approaches, including discounted cash flows and direct capitalization models, sales comparison approach, or transactions with third parties. When the Company acquires an interest in or contributes assets to an unconsolidated real estate venture project, the difference between the Company’s cost basis in the investment and the value of the unconsolidated real estate venture or asset contributed is amortized over the life of the related assets, intangibles, and liabilities and such adjustment is included in the Company’s share of equity in income of unconsolidated real estate ventures. Deferred Costs Certain costs incurred in connection with property leasing are capitalized as deferred leasing costs. Deferred leasing costs consist primarily of third-party and internal leasing commissions that are amortized using the straight-line method over the term of the applicable lease, which generally ranges from 1 to 16 years. Management re-evaluates the remaining useful lives of leasing costs in conjunction with changes in the applicable lease term. Notes Receivable The Company accounts for notes receivable on its balance sheet at amortized cost, net of allowance for loan losses. Interest income is recognized over the term of the notes receivable and is calculated based on the contractual terms of each note agreement. At inception and on a quarterly basis, management evaluates notes receivable for the current estimate of expected credit losses over the contractual term using a probability-of-default method and reports in net income (as a credit loss expense) the amount necessary to adjust the allowance for credit losses to reflect management's current estimate. Management considers performance and/or value of the underlying collateral property as well as the financial and operating capability of the borrower/sponsor in its evaluation. Notes receivable are placed on nonaccrual status when management determines, after considering economic and business conditions and collection efforts, that the loans are impaired, or collection of interest is doubtful. Uncollectible interest previously accrued is recognized as bad debt expense. Interest income on nonaccrual loans is recognized only to the extent that cash payments are received. Deferred Financing Costs Costs incurred in connection with debt financing are capitalized as a direct deduction from the carrying value of the debt, except for costs capitalized related to the Company’s unsecured credit facility, which are capitalized within the “Deferred costs, net” caption on the accompanying consolidated balance sheets. Deferred financing costs are charged to interest expense over the terms of the related debt agreements. Deferred financing costs consist primarily of loan fees which are amortized over the related loan term on a basis that approximates the effective interest method. Deferred financing costs are accelerated, when debt is extinguished, as part of the “Interest expense-amortization of deferred financing costs” caption within the Company’s consolidated statements of operations. Original issue discounts are recognized as part of the gain or loss on extinguishment of debt, as appropriate. Revenue Recognition Rental Revenue The Company generates revenue under leases with tenants occupying the Properties. Generally, leases with tenants are accounted for as operating leases. The operating leases have various expiration dates. As of December 31, 2024 and 2023, the Company did not have any leases classified as direct-financing or sales-type leases. Fixed lease payments under tenant leases, determined to be collectible, are recognized on a straight-line basis over the term of the related lease. The cumulative difference between lease revenue recognized under the straight-line method and contractual lease payments are recorded as “Accrued rent receivable” on the consolidated balance sheets. Variable lease payments are recognized as lease revenue in the period in which changes occur in facts and circumstances on which the variable lease payments are based. Topic 842 requires a binary approach to evaluating leases for collectability. Lessors are required to determine if it is probable that substantially all of the lease payments will be collected from the tenant over the lease term. Should the lessor determine that it is not probable that substantially all of the lease payments will be collected, the standard requires that the lessor write off any accrued rent receivable and begin recognizing lease payments on a cash basis. The Company’s lease revenue is impacted by the Company’s determination of whether improvements to the property, whether made by the Company or by the tenant, are landlord assets. The determination of whether an improvement is a landlord asset requires judgment. In making this judgment, the Company’s primary consideration is whether an improvement would be utilizable by another tenant upon the then-existing tenant vacating the improved space. If the Company has funded an improvement that it determines not to be landlord assets, then it treats the cost of the improvement as a lease incentive. If the tenant has funded an improvement that the Company determines to be landlord assets, then the Company treats the costs of the improvement as deferred revenue and amortizes these costs into revenue over the lease term. For certain leases, the Company also makes significant assumptions and judgments in determining the lease term, including assumptions when the lease provides the tenant with an early termination option or purchase option. The lease term impacts the period over which the Company determines and records lease payments and also impacts the period over which it amortizes lease-related costs. The Company considers all relevant factors that create an economic incentive for the lessee and uses judgment to determine if those factors, considered together, signify that the lessee is reasonably certain to exercise the option. For leases where a tenant executes a lease termination, termination fees are generally recognized over the modified term of the lease as rental income. Additionally, any deferred rents receivable are accelerated over the modified lease term. The Company’s leases also typically provide for tenant reimbursement of a portion of common area maintenance expenses and other operating expenses to the extent that a tenant’s pro rata share of expenses exceeds a base year level set in the lease or to the extent that the tenant has a lease on a triple net basis. As the timing and pattern of revenue recognition is the same, rents and tenant reimbursements are treated as a combined lease component and included in the “Rents” line item within the Company's consolidated statements of operations. Fixed lease payments include contractual rents under lease agreements with tenants recognized on a straight-line basis over the lease term, including amortization of lease incentives and above or below market rent intangibles, and parking income that is fixed under a long-term contract. Variable lease payments include reimbursements billed to tenants, termination fees, bad debt expense, and parking income that is not fixed under a long-term contract. Point of Sale Revenue Point of sale revenue consists of parking, restaurant, and flexible stay revenue from the Company’s hotel operations. Point of sale service obligations are performed daily, and the customer obtains control of those services simultaneously as they are performed. Accordingly, point of sale revenue is recorded on an accrual basis as it is earned, coinciding with the services that are provided to the Company’s customers. Parking and flexible stay revenue is recognized within rents and restaurant income is recognized within other income on the consolidated statements of operations. Third party management fees, labor reimbursement, and leasing The Company performs property management services for its managed real estate ventures and third-party property owners of real estate and these services consist of: (i) leasing services, (ii) property inspections, (iii) repairs and maintenance monitoring, and (iv) financial and accounting oversight. For these services, the Company earns management fees monthly, which are based on a fixed percentage of each managed property’s financial results, and is reimbursed for the labor costs incurred by its property management employees as services are rendered to the property owners. The Company determined that control over the services is passed to its customers simultaneously as the service are performed. Accordingly, the Company recognizes management fee revenue as earned as the services are performed. Lease commissions are earned when the Company, as a broker for a third party property owner, executes a lease agreement with a tenant. Based on the terms of the Company’s lease commission contracts with the owner, the Company's performance obligation to the owner has been completed upon execution of each lease agreement. The Company’s lease commissions are earned based on a fixed percentage of rental income generated for each executed lease agreement and there is no variable income component. Development fee revenue is earned through two different sources: (i) the Company performs development services for third parties as an agent and earns fixed development fees based on a percentage of construction costs incurred over the construction period, and (ii) the Company acts as a general contractor on behalf of one of its managed real estate ventures. The Company acts as the principal construction company for the real estate ventures and records gross revenue as it provides construction services based on the quantifiable construction outputs. In applying the cost based output method of revenue recognition, the Company uses the actual costs incurred relative to the total estimated costs to determine its progress towards contract completion and to calculate the corresponding gross revenue and gross profit to recognize. For any costs that do not contribute to satisfying the Company’s performance obligations, the Company excludes such costs from its output methods of revenue recognition as the amounts are not reflective of transferring control of the outputs to the customer. The use of estimates in this calculation involves significant judgment. Common Development Cost Estimates for Contributions to Development Joint Ventures When land is contributed to a development joint venture, estimated common development costs include actual costs incurred and estimates of future common development costs benefiting the property sold. When land is sold, common development costs, if they cannot be specifically identified, are allocated to each sold parcel based upon its relative sales value. For purposes of allocating common development costs, estimates of future sales proceeds and common development costs are re-evaluated throughout the year, with adjustments being allocated prospectively to the remaining land parcels available for sale. The common development cost estimates for development joint ventures are highly judgmental as they are sensitive to cost escalation, sales price escalation and pace of absorption, which are subject to judgment and are affected by expectations about future market or economic conditions. Changes in the assumptions used to estimate future common development costs could result in a significant impact on the amounts recorded as net gain on disposition of real estate or net gain on sale of undepreciated real estate. The following is a summary of revenue earned by the Company’s reportable segments (see Note 18 “Segment Information,” for further information) during the year ended December 31, 2024 (in thousands): Philadelphia CBD Pennsylvania Suburbs Austin, Texas Other Corporate (a) Total Fixed rent $ 158,382 $ 114,056 $ 56,620 $ 36,412 $ (1,631) $ 363,839 Variable rent 54,264 10,460 28,424 1,442 (142) 94,448 Total lease revenue 212,646 124,516 85,044 37,854 (1,773) 458,287 Amortization of deferred market rents 647 — 272 — — 919 Daily parking & hotel flexible stay 8,727 — 956 352 1 10,036 Total rents 222,020 124,516 86,272 38,206 (1,772) 469,242 Third party management fees, labor reimbursement and leasing 158 21 603 3,769 19,191 23,742 Other income 3,808 474 333 163 7,755 12,533 Total revenue $ 225,986 $ 125,011 $ 87,208 $ 42,138 $ 25,174 $ 505,517 (a) Corporate includes intercompany eliminations necessary to reconcile to consolidat

REAL ESTATE INVESTMENTS

REAL ESTATE INVESTMENTS	12 Months Ended
	Dec. 31, 2024
Real Estate [Abstract]
REAL ESTATE INVESTMENTS	3. REAL ESTATE INVESTMENTS As of December 31, 2024 and 2023, the gross carrying value of the operating properties was as follows (in thousands): December 31, 2024 December 31, 2023 Land $ 361,861 $ 394,669 Building and improvements 2,551,089 2,671,024 Tenant improvements 461,830 476,539 Total $ 3,374,780 $ 3,542,232 Construction-in-Progress Internal direct construction costs totaling $11.0 million in 2024, $8.9 million in 2023, and $9.3 million in 2022 and interest expense totaling $3.2 million in 2024, $5.2 million in 2023, and $4.7 million in 2022 were capitalized related to the development, redevelopment and construction of tenant improvements of certain properties and land holdings. During the years ended December 31, 2024, 2023 and 2022, the Company’s internal direct construction costs are comprised of capitalized compensation costs. The following table shows the amount of compensation costs (including bonuses and benefits) capitalized for the years presented (in thousands): December 31, 2024 2023 2022 Development $ 4,447 $ 4,096 $ 5,343 Redevelopment 738 944 1,484 Tenant Improvements 5,811 3,817 2,505 Total $ 10,996 $ 8,857 $ 9,332 2024 Acquisitions 2023 Acquisitions Property/Portfolio Name Acquisition Date Location Property Type Rentable Square Feet/Acres Purchase Price 165 King of Prussia Road October 27, 2023 Radnor, PA Land 1.1 acres $ 8,550 2022 Acquisitions Property/Portfolio Name Acquisition Date Location Property Type Rentable Square Feet/Acres Purchase Price 631 Park Avenue January 21, 2022 King of Prussia, PA Land 3.3 acres $ 3,650 3151 Market Street (a) April 29, 2022 Philadelphia, PA Leasehold Interest 0.8 acres $ 27,349 (a) On April 29, 2022, the Company acquired, through a 99-year ground lease, the leasehold interest in a 0.8-acre land parcel, located at 3151 Market Street, in Philadelphia, Pennsylvania. The Company prepaid $19.5 million of the ground lease, representing 500,000 square feet of buildable floor to area ratio (“FAR”) to be used for the development of 3151 Market Street, and paid $7.8 million for 200,000 square feet of FAR density usable pursuant to the Schuylkill Yards Project master development agreement. The additional density is included in prepaid leasehold interests in land held for development in the consolidated balance sheets. See below regarding disposition of 500,000 square feet of FAR. Dispositions The following table summarizes the property dispositions during the years ended December 31, 2024, 2023 and 2022 (dollars in thousands): Property/Portfolio Name Disposition Date Location Property Type Rentable Square Feet/Acres Sales Price Gain/(Loss) on Sale (a) Plymouth Meeting Executive Center (b)(c) September 26, 2024 Plymouth Meeting, PA Five Office Buildings 521,288 $ 65,500 $ — 55 US Avenue (c)(d) September 30, 2024 Gibbsboro, NJ Land 11.0 acres $ 6,466 $ — One and Two Barton Skyway (c) November 18, 2024 Austin, TX Two Office Buildings 390,963 $ 107,900 $ — Dabney Land Westwood December 20, 2024 Richmond, VA Parking Lot 11.0 acres $ 8,500 $ 2,297 Dabney East December 27, 2023 Richmond, VA Land 11.6 acres $ 1,600 $ 430 Byberry December 7, 2023 Philadelphia, PA Land Purchase Option 50.0 acres $ 9,641 $ 3,960 8521 Leesburg Pike (i) December 1, 2023 Vienna, VA Office 150,897 $ 11,000 $ — 200 N. Radnor Chester Road October 31, 2023 Radnor, PA Retail 17,884 $ 14,200 $ 7,735 Three Barton Skyway (i) August 4, 2023 Austin, TX Office 173,302 $ 53,250 $ — 200 Barr Harbor Drive November 22, 2022 West Conshohocken, PA Office 86,000 $ 30,500 $ 8,740 11501 Burnett Road (g) July 29, 2022 Austin, TX Land 4.7 acres $ 32,513 $ 8,340 3151 Market Street (f) July 14, 2022 Philadelphia, PA Leasehold Interest 0.8 acres $ 30,394 $ 2,583 Gibbsboro Portfolio (e) June 28, 2022 Gibbsboro, NJ Office/Land 42,809/4.0 acres $ 4,100 $ 831 25 M Street (h) April 14, 2022 Washington, D.C. Land 0.8 acres $ 29,675 $ 3,836 Gateway G & H January 20, 2022 Richmond, VA Land 10.0 acres $ 1,600 $ 897 (a) Gain/(Loss) on Sale is net of closing and other transaction related costs. (b) The Company provided the purchaser with $15.5 million in seller financing which is subordinate to a first mortgage. The seller financing is subject to mandatory redemption by no later than the tenth anniversary of the closing date of the sale and is classified within “Other Assets” on the consolidated balance sheet. (c) Recognized a provision for impairment of $21.1 million on the properties prior to the sales. The Company estimated the fair value of its impaired properties and the related impairment losses based upon purchase and sale agreements. (d) The Company provided the purchaser with $4.4 million in seller financing, which is classified within “Other Asset” on the consolidated balance sheet. (e) Includes $0.7 million of gain on sale of undepreciated real estate and $0.1 million of gain on disposition of real estate included within the consolidated statements of operations for the twelve months ended December 31, 2022. (f) On July 14, 2022, the Company contributed 500,000 square feet of FAR relating to its 99-year prepaid leasehold interest at 3151 Market Street in Philadelphia, Pennsylvania, acquired on April 29, 2022, to a newly formed joint venture with an unaffiliated third party. The Company's initial deemed contribution in the project was $30.4 million and the transaction resulted in deconsolidation of the property and conversion of Brandywine 3151 Market, LP (formerly a wholly-owned subsidiary of the Operating Partnership) to a real estate venture (“3151 Market Street Venture”). The Company recorded its investment at fair value and recognized a gain, net of transaction costs, of $2.6 million, in “Net gain on sale of undepreciated real estate” on the consolidated statements of operations. See Note 4, “Investment in Unconsolidated Real Estate Ventures,” for further information. (g) On July 29, 2022, the Company contributed a 4.7 acre parcel of land held for development at 11501 Burnet Road in Austin, Texas to a newly formed joint venture with an unaffiliated third party. The project is part of the Uptown ATX master development. The Company's combined contributed initial land investment in the project was $32.5 million and the transaction resulted in the deconsolidation of the property and formation of Brandywine Uptown Office LLC and Brandywine One Uptown Multifamily LLC (together, “One Uptown Ventures)”). The Company recorded its investment at fair value and recognized a gain of $8.3 million in “Net gain on disposition of real estate” on the consolidated statements of operations. Gain on sale of $8.3 million is calculated as the difference between the estimated relative sales value of the contributed land and the estimated total cost allocations per block. See Note 4, “Investment in Unconsolidated Real Estate Ventures,” for further information. (h) On September 30, 2022, the Company recognized $0.4 million of additional gain on disposition of real estate. (i) Recognized a provision for impairment of $16.7 million on the properties prior to the sales. 3151 Market Venture On July 14, 2022, the Company contributed 500,000 square feet of FAR relating to its 99-year prepaid leasehold interest at 3151 Market Street in Philadelphia, Pennsylvania, acquired on April 29, 2022, to a newly formed joint venture with an unaffiliated third party. The Company's initial deemed contribution in the project was $30.4 million and the transaction resulted in deconsolidation of the property and conversion of Brandywine 3151 Market, LP (formerly a wholly-owned subsidiary of the Operating Partnership) to a real estate venture (“3151 Market Street Venture”). The Company recorded its investment at fair value and recognized a gain, net of transaction costs, of $2.6 million, in “Net gain on sale of undepreciated real estate” on the consolidated statements of operations. See Note 4, “Investment in Unconsolidated Real Estate Ventures,” for further information. During the first quarter of 2023, the Company deconsolidated $7.8 million recorded in “Prepaid leasehold interests in land held for development, net” on the consolidated balance sheets. This deconsolidation reflects the Company’s contribution, in January 2023, of 200,000 square feet of buildable floor to area ratio (“FAR”) to the Company’s unconsolidated real estate venture, referred to in Note 4 below as the 3151 Market Street Venture, for use by this unconsolidated real estate venture in the development of 3151 Market Street. Upon contribution at fair market value, the Company recognized a gain, net of transaction costs, of $0.8 million in “Net gain on sale of undepreciated real estate” on the consolidated statements of operations. Held for Use Impairment For the year ended December 31, 2024, the Company recognized impairment losses totaling $23.5 million on one property in the Other segment. The estimated fair value is considered Level 3 in accordance with ASC 820 and was based upon a purchase and sale agreement as of September 30, 2024 that was not completed as of December 31, 2024 due to the termination of the purchase and sale agreement. For the year ended December 31, 2023, the Company recorded aggregate impairment charges of $103.2 million on three properties within the Company’s Metropolitan Washington, D.C. area in the Company's Other segment. These impairments resulted from the shortened hold period assumptions for the assets as a result of the Company's plan to exit these markets as conditions permit and it was determined that the carrying value exceeded the Company's estimated fair value of the properties. The estimated fair value is considered Level 3 in accordance with ASC 820 and was determined by estimating discounted cash flows using significant unobservable inputs, which were the discount rate of 10.00% and residual capitalization rate of 8.50%. During the year ended December 31, 2023, the Company recognized impairment losses totaling $11.7 million on properties located in the Pennsylvania Suburbs segment. The estimated fair value is considered Level 3 in accordance with ASC 820 and was based upon an executed purchase and sale agreement as of September 30, 2023 that was not completed as of December 31, 2023 due to the termination of the purchase and sale agreement. During the year ended December 31, 2022, the Company recognized an impairment loss totaling approximately $4.7 million on a property located in the Other segment. The Company’s estimated fair value is considered Level 3 in accordance with ASC 820, and was based on a pending offer form a third party to acquire the property and the subsequent execution of a purchase and sale agreement. Held for Sale

INVESTMENT IN UNCONSOLIDATED RE

INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES	12 Months Ended
	Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES	4. INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES As of December 31, 2024, the Company held ownership interests in ten unconsolidated real estate ventures for a net aggregate investment balance of $570.5 million. As of December 31, 2024, four of the real estate ventures owned properties (directly or through leasehold interests) that contained an aggregate of approximately 3.9 million net rentable square feet of office space; two of the real estate ventures owned 1.4 acres of land held for development; and four of the real estate ventures owned 7.5 acres of land in active development. The Company accounts for its interests in the unconsolidated real estate ventures, which range from 20% to 84%, using the equity method. Certain of the unconsolidated real estate ventures are subject to specified priority allocations of distributable cash, including cash from operations and cash from capital events, such as sales of properties. The Company earned management fees from the unconsolidated real estate ventures of $7.7 million, $8.1 million and $8.2 million for the years ended December 31, 2024, 2023 and 2022, respectively. The Company earned leasing commissions from the unconsolidated real estate ventures of $2.3 million, $3.8 million and $2.5 million for the years ended December 31, 2024, 2023 and 2022, respectively. The Company had outstanding accounts receivable balances from the unconsolidated real estate ventures of $5.0 million and $3.5 million as of December 31, 2024 and 2023, respectively. The amounts reflected in the following tables (except for the Company’s share of equity in income) are based on the financial information of the individual unconsolidated real estate ventures. The Company records operating losses of a real estate venture in excess of its investment balance if the Company is liable for the obligations of the real estate venture or is otherwise committed to provide financial support to the real estate venture. The Company’s investment in the unconsolidated real estate ventures as of December 31, 2024 and 2023, and the Company’s share of the unconsolidated real estate ventures’ income (loss) for the years ended December 31, 2024, 2023, and 2022 was as follows (in thousands): Ownership Percentage Carrying Amount Company's unconsolidated real estate venture Income (Loss) Unconsolidated Real Estate Venture Debt at 100%, gross 2024 2023 2024 2023 2022 2024 2023 Office Properties Commerce Square Venture 84% (a) $ 179,061 $ 272,216 $ (134,545) $ (18,791) $ (12,128) $ 220,000 $ 220,000 Mid-Atlantic Office Venture 40% (a) 10,844 — 7,141 (26,448) 412 62,023 132,770 Herndon Innovation Center Metro Portfolio Venture, LLC (f) 15% — 3,518 — (11,854) (536) — 233,443 MAP Venture (b) 5% — (48,733) (6,541) (10,580) (8,340) — 179,842 Cira Square 20% 42,969 25,242 (1,648) (2,474) (985) 160,000 257,700 KB JV (e) 50% 42 — 986 — — — — Other 4040 Wilson Venture (c) (d) 50% — 29,419 (10,618) (2,536) (1,211) — 145,000 1919 Venture (g) 50% — — — — 1,392 — — One Uptown - Multifamily (c) 50% 29,818 32,124 (3,800) — — 72,197 40,270 Development Properties 3025 JFK Venture (c) 64% 61,379 62,034 (19,271) (4,456) (35) 173,754 152,032 JBG - 51 N Street (c) 70% 8,209 21,150 (13,397) (435) (382) — — JBG - 1250 First Street Office (c) 70% 8,531 17,843 (9,586) (269) (195) — — 3151 Market Street Venture (c) 76% 168,925 90,645 (105) (72) (8) — — One Uptown - Office (c) 62% 60,677 47,036 (201) — — 69,047 51,701 $ 570,455 $ 552,494 $ (191,585) $ (77,915) $ (22,016) $ 757,021 $ 1,412,758 (a) Ownership percentage represents the Company’s combined interest including preferred and common equity holdings. See “Commerce Square Venture” and “Mid-Atlantic Office JV” sections below for more information. (b) Included within “Other Liabilities” on the consolidated balance sheet. (c) This entity is a VIE. (d) On December 20, 2024, the Company sold its interest in the 4040 Wilson Venture. See “4040 Wilson Venture” section for more information on the disposal. (e) On December 20, 2024 KB JV sold its entire 14 industrial/flex building portfolio out of the KB JV. See "KB JV" section for more information on the disposal. (f) As of December 31, 2024, the Company has no further investments in Herndon Innovation Center. See “Herndon Innovation Center Metro Portfolio Venture, LLC” section for more information on the divestiture. (g) On November 30, 2022, the Company sold its interest in 1919 Venture. See “1919 Venture” sections for more information on the disposal. The following is a summary of the financial position of the unconsolidated real estate ventures in which the Company held interests as of December 31, 2024 and December 31, 2023 (in thousands): December 31, 2024 (b) December 31, 2023 Net property $ 1,641,085 $ 2,339,921 Other assets 238,406 534,658 Other liabilities 107,801 443,536 Debt, net 752,325 1,407,858 Equity (a) 1,019,365 1,023,185 (a) This amount does not include the effect of the basis difference between the Company's historical cost basis and the basis recorded at the real estate venture level, which is typically amortized over the life of the related assets and liabilities. Basis differentials occur from the impairment of investments, purchases of third party interests in existing real estate ventures and upon the transfer of assets that were previously owned by the Company into a real estate venture. In addition, certain acquisition, transaction and other costs may not be reflected in the net assets at the real estate venture level. (b) Excludes amounts related to the Herndon Innovation Center Metro Portfolio Venture, LLC and the New MAP Venture as the Company discontinued applying the equity method of accounting. The Company discontinued applying the equity method of accounting on the Herndon Innovation Center Metro Portfolio Venture, LLC after March 31, 2024 and discontinued applying the equity method of accounting on the New MAP Venture after June 30, 2024. The following is a summary of results of operations of the unconsolidated real estate ventures in which the Company held interests during the twelve-month periods ended December 31, 2024, 2023 and 2022 (in thousands): Year Ended December 31, 2024 (b) 2023 2022 Revenue $ 157,361 $ 232,895 $ 244,981 Operating expenses (79,093) (122,181) (124,608) Interest expense, net (58,785) (78,909) (49,007) Depreciation and amortization (70,536) (100,205) (103,378) Provision for impairment (148,347) — — Net loss $ (199,400) $ (68,400) $ (32,012) Ownership interest % Various Various Various Company's share of net loss $ (183,141) $ (39,637) $ (21,594) Other-than-temporary impairment (a) (8,378) (37,176) — Basis adjustments and other (66) (1,102) (422) Equity in loss of unconsolidated real estate ventures $ (191,585) $ (77,915) $ (22,016) (a) Represents other-than-temporary impairment on investment in unconsolidated joint venture due to a decline in fair value below the carrying value of our investments in the unconsolidated joint venture for the years ended December 31, 2024 and 2023. (b) Excludes amounts related to the Herndon Innovation Center Metro Portfolio Venture, LLC and the New MAP Venture as the Company discontinued applying the equity method of accounting. The Company discontinued applying the equity method of accounting on the Herndon Innovation Center Metro Portfolio Venture, LLC after March 31, 2024 and the New MAP Venture after June 30, 2024. As of December 31, 2024, the aggregate principal payments of the unconsolidated real estate ventures recourse and non-recourse debt payable to third-parties are as follows (in thousands): 2025 $ — 2026 173,754 2027 141,244 2028 220,000 2029 222,023 Thereafter — Total principal payments 757,021 Net deferred financing costs (4,696) Outstanding indebtedness $ 752,325 One Uptown Ventures On December 1, 2021, the Company established the One Uptown Ventures, two unconsolidated real estate ventures, with affiliates of Canyon Partners Real Estate to develop “ One Uptown, ” a $345.6 million mixed-use project in Austin, Texas. One Uptown has been designed as a 348,000 square feet of Class-A workspace and 15,000 square feet of street-level retail space (through the “ office ” joint venture) and 341 apartment residences and a public park (through the “ multifamily ” joint venture) and a six-story parking garage to be shared by the two unconsolidated real estate ventures. At the time of formation of the ventures, the Company's partner in each venture agreed, subject to closing of the applicable construction loans, to fund approximately $64.5 million of the combined project costs in exchange for a 50% preferred equity interest in each of the two ventures, with the Company retaining a 50% common equity interest in each. Under the terms of each of the venture agreements, the venture partner had no obligation to fund any portion of the applicable project costs until the closing of the applicable construction loan. The absence of this obligation prevented Company from meeting the sale recognition criteria of ASC 606 until the applicable closings of the construction loans. On July 29, 2022, the One Uptown Ventures closed on two separate construction loans. The office venture closed on a $121.7 million construction loan which bears interest at Secured Overnight Offering Rate ( “ SOFR ”) plus 3.00% and the multifamily venture closed on an $85.0 million construction loan, which bears interest at SOFR plus 2.45%, plus, in each case, a daily SOFR adjustment of 10 basis points. Both loans have original maturity dates in July 2026 with a one year option to extend. The Company has also provided a carry guarantee and limited payment guarantee up to 30% and 15% of the principal balances of the $121.7 million and $85 million construction loans, respectively. The Company subsequently recognized the formation of the ventures and deconsolidated the projects upon the closing of the loans. The Company has determined that the each of the One Uptown Ventures is a VIE. As a result, the Company used the VIE model under the accounting standard for consolidation in order to determine whether to consolidate the One Uptown Ventures. Based upon each member's shared power over the activities of the One Uptown Ventures under the operating and related agreements, the One Uptown Ventures are accounted for under the equity method of accounting. During the twelve months ended December 31, 2024, the Company contributed $11.1 million to the One Uptown - Office Venture, increasing the Company's aggregate investment balance to $60.7 million at December 31, 2024 and increasing the Company's equity ownership from 57% to 62%. The contribution was used to pay interest on the One Uptown - Office Venture construction loan and arose from higher than budgeted interest carry costs. The One Uptown - Office Venture was substantially complete in the first quarter of 2024. The Company expects to place the One Uptown - Office Venture into service in the first quarter of 2025. During the twelve months ended December 31, 2024, the Company contributed $0.0 million to the One Uptown - Multifamily Venture. The One Uptown - Multifamily Venture was substantially complete and placed into service in the third quarter of 2024. 3151 Market Street Venture On July 14, 2022, the Company formed an unconsolidated real estate venture, with an unaffiliated third party, to develop a life science/office building containing approximately 417,000 rentable square feet under a long-term ground lease located at 3151 Market Street in Philadelphia, Pennsylvania. The estimated project cost is approximately $317 million, and the joint venture partner has funded approximately $49.9 million of the project costs in exchange for a 35% preferred equity interest in the venture. The Company has determined that the 3151 Market Street Venture is VIE. As a result, the Company used the VIE model under the accounting standard for consolidation in order to determine whether to consolidate the 3151 Market Street Venture. Based upon each member's shared power over the activities of the 3151 Market Street Venture under the operating and related agreements, the 3151 Market Street Venture is accounted for under the equity method of accounting. During the twelve months ended December 31, 2024, the Company contributed $71.2 million to the 3151 Market Street Venture, increasing the Company's aggregate investment balance to $168.9 million at December 31, 2024 and increasing the Company's equity ownership from 64% to 76%. The 3151 Market Street Venture was substantially completed in the fourth quarter of 2024. The Company expects to place the 3151 Market Street Venture into service in the fourth quarter of 2025. Cira Square Venture On March 17, 2022, the Company formed an unconsolidated real estate venture, Cira Square REIT, LLC (“Cira Square Venture”), for the purpose of acquiring Cira Square, an office property located at 2970 Market Street in Philadelphia, Pennsylvania containing 862,692 rentable square feet for a gross purchase price of $383.0 million. The Company owns a 20% equity interest in Cira Square Venture and provided an initial capital contribution of $28.6 million on the closing date. Upon its formation, the Cira Square Venture obtained a $257.7 million non-recourse mortgage loan to fund a portion of the costs to acquire Cira Square. This mortgage loan bore interest at 3.50% over one-month term SOFR per annum, and matured on April 1, 2024. On April 1, 2024, the Cira Square Venture received an extension of the maturity date to July 1, 2024. On May 6, 2024, the Cira Square Venture refinanced the loan through proceeds of a new $160.0 million non-recourse mortgage loan and a capital contribution by the Company and its partner in the aggregate amount of $96.9 million (of which the Company's share was $19.4 million). The new mortgage loan bears interest at 8.817% per annum and matures in June 2029. At December 31, 2024, the Company's investment balance in the Cira Square Venture was $43.0 million . 4040 Wilson Venture The 4040 Wilson LLC Venture (“4040 Wilson Venture”) consisted of one property containing an aggregate of 225,000 square feet of office/retail and 250 apartment units, located in the Metropolitan Washington, D.C. segment. The Company and its partner each owned a 50% interest in the 4040 Wilson Venture. During the quarter ended September 30, 2024, our partner elected to acquire our 50% ownership interest in the 4040 Wilson Venture based on an agreed upon property value of $190.5 million. As a result, the Company recognized an other than temporary impairment loss on its investment in this unconsolidated venture of $8.4 million. The Company estimated the fair value of its impaired investment based on the completed transaction. On December 24, 2024, we sold our 50% interest in the 4040 Wilson Venture for $95.3 million (based on the $190.5 million property value). 3025 JFK Venture On February 2, 2021, the Company contributed its investment in a 99-year prepaid leasehold interest in a one-acre land parcel held for development at 3025 JFK Boulevard in Philadelphia, Pennsylvania to the 3025 JFK Venture. The Company's initial investment in this unconsolidated real estate venture at February 2, 2021 was $34.8 million. The real estate venture was formed to develop a 428,000 square foot mixed-use building at property under the long-term ground lease. The estimated project cost is approximately $320.1 million, and the joint venture partner has funded approximately $45.2 million of the project costs in exchange for a 45% preferred equity interest in the venture. On July 23, 2021, the 3025 JFK Venture closed on a $186.7 million construction loan, which bears interest at 3.50% plus LIBOR (subject to a LIBOR floor of 0.25%) per annum and matures in July 2025. During the twelve months ended December 31, 2024, the Company contributed an additional $17.5 million to the 3025 JFK Venture, and as a result, the Company's common equity ownership increased to 64%. Utilizing the proceeds from the contribution, the 3025 JFK Venture entered into an interest rate cap agreement to help mitigate the interest rate volatility associated with the variable interest rate on the 3025 JFK Venture's construction loan, which is scheduled to mature in July 2025 with a one year option to extend. The interest rate cap has an initial notional value of $148.0 million which has accreted up to $187.0 million following the projected draw schedule. The strike rate of the interest rate cap is 3.00% and the stated interest rate of the construction loan is SOFR + 3.6%. With the interest rate cap in-place, the maximum interest rate due by the 3025 JFK Venture is 6.60%. The Company has determined that the 3025 JFK Venture is a VIE. As a result, the Company used the VIE model under the accounting standard for consolidation in order to determine whether to consolidate the 3025 JFK Venture. Based upon each member’s shared power over the activities of 3025 JFK Venture under the operating and related agreements, and the Company’s lack of control over the 3025 JFK Venture, the 3025 JFK Venture is accounted for under the equity method of accounting. The 3025 JFK Venture was substantially complete in the fourth quarter of 2023 and placed into service in the fourth quarter of 2024. Mid-Atlantic Office JV On December 21, 2020, the Company contributed a portfolio of twelve properties containing an aggregate of 1,128,645 square feet, nine of which are located in the Pennsylvania suburbs segment and three located in the Company's former Metropolitan Washington, D.C. segment, to the Mid-Atlantic Office JV, for a gross sales price of $192.9 million. After the transaction, the Company owned approximately 25% of the equity interest in the Mid-Atlantic Office JV through a $20.0 million preferred equity holding and approximately 15% of the equity interest through a common equity interest (representing 20% of the total common equity), for a combined approximately 40% equity interest in the venture. On the closing date, Mid-Atlantic Office JV also obtained $147.4 million of third-party debt financing secured by the twelve properties within the venture, with an initial advance of $120.8 million. As of December 31, 2023, the Company's investment in the Mid-Atlantic Office JV was zero, and we discontinued applying the equity method of accounting on these assets because, at this time, we did not have any guarantees or other obligations to support this venture. On August 9, 2024 as part of a loan restructuring for the Mid-Atlantic Office Venture which included forgiveness of $39.8 million of the venture's debt, the Company elected to fund $4.1 million to fund a portion of a lender pay down for the venture. The Company's contribution is an equity method investment in the Mid-Atlantic Office JV and the Company recorded the contribution to Investment in unconsolidated real estate ventures on the consolidated balance sheets. The Mid-Atlantic Office Venture has liquidation rights and priorities that are different from ownership percentages. As such, equity in earnings is determined using the hypothetical liquidation book value (“HLBV”) method. Income or loss is recorded based on changes in what would be received should the entity liquidate all of its assets (as valued in accordance with GAAP) and distribute the resulting proceeds based on the terms of the respective agreements. The HLBV method is a balance sheet focused approach commonly applied to equity investments where cash distribution percentages vary at different points in time and are not directly linked to an equity holder’s ownership percentage. Commerce Square Venture The Commerce Square Venture consists of two entities that, together, own two office properties in Philadelphia, Pennsylvania. The properties were encumbered by existing mortgages that were set to expire on April 5, 2023 and that were, following extension, refinanced on June 2, 2023 through a $220.0 million secured loan that bears an all-in fixed interest rate of 7.79% and matures in June 2028. In connection with the refinancing, the Company contributed $46.5 million to the Commerce Square Venture in exchange for an additional 8% equity interest in the venture. On August 26, 2024, the Company agreed to fund and subsequently funded in November 2024, an additional $23.0 million in common equity contribution to the Commerce Square Venture, the proceeds from which were used by the Commerce Square Venture to pay down the preferred equity position of the Company’s partner in the Commerce Square Venture, thereby increasing a portion of the Company’s ownership interest in the Commerce Square Venture to 84%. In connection with the Company’s funding agreement, the Commerce Square Venture recorded impairment charges of $116.5 million during the quarter ended September 30, 2024 based on the excess of the carrying value of the properties over their estimated fair value. Herndon Innovation Center Metro Portfolio Venture, LLC The Herndon Innovation Center Metro Portfolio Venture, LLC (“Herndon Innovation Center”) consisted of eight properties containing an aggregate of 1,293,197 square feet, located in the Company's former Metropolitan Washington, D.C. segment. The Company and its partner owned 15% and 85% interests in the Herndon Innovation Center, respectively. The properties held by the venture were encumbered by a $233.4 million secured mortgage loan that matured on March 29, 2024 and was nonrecourse to the Company. During 2024, the Company, its partners, and the mortgage lender have transferred their interests in the Herndon Innovation Center through a deed in lieu over a portion of the assets and a seller assisted short sale over the remaining assets. As of December 31, 2024, the Company has no further investments in Herndon Innovation Center. MAP Venture and New MAP Venture On June 28, 2024, the Company recapitalized one of its unconsolidated real estate ventures, referred to as the “Original MAP Venture,” in which the Company had a negative investment balance of $52.2 million as of March 31, 2024 and a 50% ownership interest. Through the recapitalization, the Original MAP Venture transferred, for $26.0 million, 14 of the 57 properties in which it held ground lease interests to a newly-formed real estate venture, referred to below as the “KB JV,” owned equally between the Company and the ground lessor of the land on which all of the 57 properties are situated. The Original MAP Venture used substantially all of the proceeds it received from the transfer of the 14 properties to pay down its non-recourse mortgage loan to $154.6 million. Through the recapitalization of the MAP Venture, the Company redeemed the entire interest of its former partner in the MAP Venture for a nominal amount and reversed the Company’s negative investment balance to zero, resulting in a one-time, non-cash gain of $53.8 million. The non-recourse mortgage loan was amended as part of the pay-down, and, as amended, has a scheduled maturity date of March 1, 2027 (subject to mandatory pay downs as properties that remain owned by the New MAP Venture are sold), bears interest at SOFR plus 2.75% and provides the lender with a 95% entitlement to residual cash from operations and capital proceeds, if any, after the mortgage loan has been repaid and after all obligations to the ground lessor and other third parties have been satisfied. Pursuant to the amended loan, the Company has agreed to fund up to $12.0 million for tenant and capital improvements pursuant to leases that the Company, on behalf of the New MAP Venture, proposes, in its discretion, to enter into at the properties owned by the New MAP Venture, which amounts, when funded, will accrue interest at 8.0% per annum. As of June 30, 2024, the Company's investment in the New MAP Venture was zero, and the Company discontinued applying the equity method of accounting on the New MAP Venture. The Company has not guaranteed any of the obligations of the New MAP Venture or otherwise committed to funding any future losses. JBG Ventures JBG Ventures consists of 51 N 50 Patterson, Holdings, LLC Venture (“51 N Street”) and 1250 First Street Office, LLC Venture (“1250 First Street”), with the Company owning a 70.0% equity interest in each of the two ventures and JBG/DC Manager, LLC (“JBG”) owning a 30.0% equity interest in each of the two ventures. 51 N Street owns 0.9 acres of undeveloped land and 1250 First Street, owns 0.5 acres of undeveloped land. During the year ended December 31, 2024, the JBG Ventures recorded held in use impairments in the properties of the venture based on the excess of the carrying value of the properties over their estimated fair value. Brandywine's share of the JBG Ventures impairment is approximately $22.2 million. KB JV On June 28, 2024 as discussed above under “MAP Venture,” the Company formed a new joint venture, KB JV, LLC (the "KB JV") which acquired leasehold interests in 14 properties from the MAP Venture for $26.0 million. The 14 properties owned by the KB JV consist of an aggregate of 641,819 net rentable square feet and are located in Richmond, Virginia. The Company owns a 50% equity interest in the KB JV and the portfolio assets are unencumbered by third party debt. In connection with the formation of KB JV, KB JV loaned $13.0 million to the Company to fund the purchase of the 14 properties. The loan from KB JV is classified as “Unsecured term loan, net” on the consolidated balance sheet. Upon sale of the properties, Kawa, as fee owner, and KB JV as leasehold owner, agreed to cause both the leasehold and fee interests in the portfolio to be sold. On December 20, 2024 KB JV sold its entire 14 industrial/flex building portfolio totaling 643,000 square feet for $66.8 million, generating approximately $15.5 million of net proceeds to Brandywine for its 50% ownership interest after repayment of the $13.0 million loan from the KB JV.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
LEASES	5. LEASES Lessor Accounting The Company leases properties to tenants under operating leases with various expiration dates. Future contractual lease payments under operating leases at December 31, 2024 are as follows (in thousands): Year 2025 $ 337,848 2026 337,910 2027 315,282 2028 282,838 2029 228,722 Thereafter 837,634 Lessee Accounting As of December 31, 2024, the Company is the lessee under six long-term ground leases classified as “operating leases” in the consolidated balance sheets. Certain of the Company’s ground leases contain extension options and the Company considered all relevant factors in determining if it was reasonably certain that it would exercise such extension options. The Company concluded that it was not reasonably certain that it would exercise the extension options and, therefore, has not included the extension period in the remaining lease terms. With the exception of certain ground leases that are subject to rent increases periodically based on the CPI index, all lease payments under the ground lease are fixed. The table below summarizes the Company’s operating lease cost (in thousands) recognized through “Property operating expenses” on the consolidated statements of operations (in thousands): Year Ended December 31, Lease Cost 2024 2023 Fixed lease cost $ 2,100 $ 2,100 Variable lease cost 42 57 Total $ 2,142 $ 2,157 Weighted-average remaining lease term (years) 53.3 54.0 Weighted-average discount rate 6.3 % 6.3 % Lease payments by the Company under the terms of all noncancellable ground leases of land are expensed on a straight-line basis regardless of when payments are due. The Company’s ground leases, excluding prepaid ground leases, have remaining lease terms ranging from 5 to 60 years. Lease payments on noncancellable leases at December 31, 2024 are as follows (in thousands): Year Minimum Rent 2025 $ 1,321 2026 1,338 2027 1,355 2028 1,373 2029 1,418 Thereafter 103,646 Total lease payments $ 110,451 Less: Imputed interest 86,905 Present value of operating lease liabilities $ 23,546 The Company obtained ground tenancy rights related to three properties in Philadelphia, Pennsylvania, which provide for contingent rent participation by the lessor in certain capital transactions and net operating cash flows of the properties after certain returns are achieved by the Company. Such amounts, if any, will be reflected as contingent rent when incurred. The ground leases also provide for payment by the Company of certain operating costs relating to the land, primarily real estate taxes. The above schedule of future minimum rental payments does not include any contingent rent amounts or any reimbursed expenses.
LEASES	5. LEASES Lessor Accounting The Company leases properties to tenants under operating leases with various expiration dates. Future contractual lease payments under operating leases at December 31, 2024 are as follows (in thousands): Year 2025 $ 337,848 2026 337,910 2027 315,282 2028 282,838 2029 228,722 Thereafter 837,634 Lessee Accounting As of December 31, 2024, the Company is the lessee under six long-term ground leases classified as “operating leases” in the consolidated balance sheets. Certain of the Company’s ground leases contain extension options and the Company considered all relevant factors in determining if it was reasonably certain that it would exercise such extension options. The Company concluded that it was not reasonably certain that it would exercise the extension options and, therefore, has not included the extension period in the remaining lease terms. With the exception of certain ground leases that are subject to rent increases periodically based on the CPI index, all lease payments under the ground lease are fixed. The table below summarizes the Company’s operating lease cost (in thousands) recognized through “Property operating expenses” on the consolidated statements of operations (in thousands): Year Ended December 31, Lease Cost 2024 2023 Fixed lease cost $ 2,100 $ 2,100 Variable lease cost 42 57 Total $ 2,142 $ 2,157 Weighted-average remaining lease term (years) 53.3 54.0 Weighted-average discount rate 6.3 % 6.3 % Lease payments by the Company under the terms of all noncancellable ground leases of land are expensed on a straight-line basis regardless of when payments are due. The Company’s ground leases, excluding prepaid ground leases, have remaining lease terms ranging from 5 to 60 years. Lease payments on noncancellable leases at December 31, 2024 are as follows (in thousands): Year Minimum Rent 2025 $ 1,321 2026 1,338 2027 1,355 2028 1,373 2029 1,418 Thereafter 103,646 Total lease payments $ 110,451 Less: Imputed interest 86,905 Present value of operating lease liabilities $ 23,546 The Company obtained ground tenancy rights related to three properties in Philadelphia, Pennsylvania, which provide for contingent rent participation by the lessor in certain capital transactions and net operating cash flows of the properties after certain returns are achieved by the Company. Such amounts, if any, will be reflected as contingent rent when incurred. The ground leases also provide for payment by the Company of certain operating costs relating to the land, primarily real estate taxes. The above schedule of future minimum rental payments does not include any contingent rent amounts or any reimbursed expenses.

DEFERRED COSTS

DEFERRED COSTS	12 Months Ended
	Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
DEFERRED COSTS	6. DEFERRED COSTS As of December 31, 2024 and 2023, the Company’s deferred costs were comprised of the following (in thousands): December 31, 2024 Total Cost Accumulated Amortization Deferred Costs, net Leasing costs $ 153,557 $ (70,998) $ 82,559 Financing costs - Unsecured Credit Facility 4,688 (2,930) 1,758 Total $ 158,245 $ (73,928) $ 84,317 December 31, 2023 Total Cost Accumulated Amortization Deferred Costs, net Leasing costs $ 164,274 $ (71,220) $ 93,054 Financing costs - Unsecured Credit Facility 4,688 (1,758) 2,930 Total $ 168,962 $ (72,978) $ 95,984

INTANGIBLE ASSETS AND LIABILITI

INTANGIBLE ASSETS AND LIABILITIES	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND LIABILITIES	7. INTANGIBLE ASSETS AND LIABILITIES As of December 31, 2024 and 2023, the Company’s intangible assets/liabilities were comprised of the following (in thousands): December 31, 2024 Total Cost Accumulated Amortization Intangible Assets, net Intangible assets, net: In-place lease value $ 15,794 $ (10,363) $ 5,431 Tenant relationship value 110 (57) 53 Above market leases acquired 75 (54) 21 Total intangible assets, net $ 15,979 $ (10,474) $ 5,505 Total Cost Accumulated Amortization Intangible Liabilities, net Intangible liabilities, net: Below market leases acquired $ 16,413 $ (9,121) $ 7,292 December 31, 2023 Total Cost Accumulated Amortization Intangible Assets, net Intangible assets, net: In-place lease value $ 24,281 $ (16,673) $ 7,608 Tenant relationship value 110 (52) 58 Above market leases acquired 75 (47) 28 Total intangible assets, net $ 24,466 $ (16,772) $ 7,694 Total Cost Accumulated Amortization Intangible Liabilities, net Intangible liabilities, net: Below market leases acquired $ 17,588 $ (9,318) $ 8,270 For the year ended December 31, 2024, the Company had no acceleration of its amortization of intangible assets as a result of tenant move-outs prior to the end of the associated lease term. For the years ended December 31, 2023, and 2022, the Company accelerated the amortization of intangible assets by approximately $0.1 million, and $0.4 million, respectively, as a result of tenant move-outs prior to the end of the associated lease term. For the year ended December 31, 2024 the Company had no acceleration of its amortization of intangible liabilities as a result of tenant move-outs. For the years ended December 31, 2023, and 2022 the Company accelerated the amortization of approximately $0.01 million, and $0.1 million of intangible liabilities as a result of tenant move-outs. As of December 31, 2024, the Company’s annual amortization for its intangible assets/liabilities, assuming no prospective early lease terminations, was as follows (dollars in thousands): Assets Liabilities 2025 $ 1,692 $ 842 2026 813 722 2027 570 618 2028 253 533 2029 253 533 Thereafter 1,924 4,044 Total $ 5,505 $ 7,292

DEBT OBLIGATIONS

DEBT OBLIGATIONS	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
DEBT OBLIGATIONS	8. DEBT OBLIGATIONS The following table sets forth information regarding the Company’s consolidated debt obligations outstanding as of December 31, 2024 and 2023 (in thousands): December 31, 2024 December 31, 2023 Effective Maturity SECURED DEBT $245.0M 5.88% Secured Term Loan due 2028 $ 245,000 $ 245,000 5.88% February 2028 $50.0M Construction Loan due 2026 32,734 13,824 SOFR + 2.50% August 2026 Principal balance outstanding 277,734 258,824 Less: deferred financing costs (2,396) (3,153) Total Secured indebtedness $ 275,338 $ 255,671 UNSECURED DEBT $600 million Unsecured Credit Facility $ — $ — SOFR + 1.50% June 2027 (a) Term Loan - Swapped to fixed 250,000 250,000 SOFR + 1.70% (b) June 2027 (a) $70.0 million Term Loan $ 70,000 $ 70,000 SOFR + 2.00% February 2025 (a) $350.0M 4.10% Guaranteed Notes due 2024 $ — $ 340,000 3.78% October 2024 $450.0M 3.95% Guaranteed Notes due 2027 450,000 450,000 4.03% November 2027 $350.0M 8.30% Guaranteed Notes due 2028 $ 350,000 $ 350,000 8.48% (c) March 2028 $350.0M 4.55% Guaranteed Notes due 2029 350,000 350,000 4.30% October 2029 $350.0M 8.88% Guaranteed Notes due 2029 $ 400,000 $ — 8.97% April 2029 Indenture IA (Preferred Trust I) 27,062 27,062 SOFR + 1.51% (d) March 2035 Indenture IB (Preferred Trust I) $ 25,774 $ 25,774 SOFR + 1.51% (d) April 2035 Indenture II (Preferred Trust II) 25,774 25,774 SOFR + 1.51% (d) July 2035 Principal balance outstanding 1,948,610 1,888,610 Plus: original issue premium (discount), net (544) 1,878 Less: deferred financing costs (10,590) (7,327) Total unsecured indebtedness $ 1,937,476 $ 1,883,161 (a) Spread includes a 10 basis point daily SOFR adjustment. (b) On November 23, 2022, the unsecured term loan of $250.0 million was swapped to a fixed rate. At December 31, 2024, the fixed rate for this instrument was 5.41% and matures on June 30, 2027. The effective date of the swap was January 31, 2023. (c) During the third quarter of 2023, Moody’s downgraded our senior unsecured credit rating from Baa3 to Ba1. As a result of the downgrade, the interest rate on our 7.55% Guaranteed Notes due 2028 (the "2028 Notes") increased 25 basis points in September 2023 due to the coupon adjustment provisions within the 2028 Notes. During the first quarter of 2024, S&P downgraded our senior unsecured credit rating from BBB- to BB+. As a result of the downgrade, the interest rate on the 2028 Notes increased 25 basis points to 8.05% in March 2024 due to the coupon adjustment provisions within the 2028 Notes. During the second quarter of 2024, Moody's downgraded our senior unsecured credit rating from Ba1 to Ba2. As a result of the downgrade, the interest rate on the 2028 Notes increased 25 basis points to 8.30% in April 2024 due to the coupon adjustment provisions within the 2028 Notes. (d) On January 16, 2024, the Trust Preferred I - Indenture IA was swapped to a fixed rate at 5.14% for the period from March 30, 2024 to December 30, 2026 and Trust Preferred I - Indenture IB and Trust Preferred II - Indenture II were swapped to a fixed rate at 5.24% for the period from January 30, 2024 to January 30, 2027. The Parent Company unconditionally guarantees the unsecured debt obligations of the Operating Partnership (or is a co-borrower with the Operating Partnership) but does not by itself incur unsecured indebtedness. The Parent Company has no material assets other than its investment in the Operating Partnership. Guaranteed Notes due 2029 O n April 12, 2024, th e Company completed an underwritten offering of $400.0 million aggregate principal amount of its 8.875% Guaranteed Notes due 2029 (the “2029 Notes”). The 2029 Notes were priced at approximately 99.51% of their face amount. The Company received approximately $391.8 million of net proceeds after the deduction for underwriting discounts and offering expenses. On April 15, 2024, the Company commenced a tender offer (the “Tender Offer”) for any and all of the outstanding $335.1 million principal amount of its 4.10% Guaranteed Notes due 2024 (the “2024 Notes”). The purchase price offered per $1,000 principal amount of 2024 Notes pursuant to the Tender Offer was determined by reference to the fixed spread for the 2024 Notes of 0 basis points plus the yield based on the bid-side price of the 4.250% U.S. Treasury due September 30, 2024. The Tender Offer expired on April19, 2024. Upon completion of the Tender Offer, on April 23, 2024, the Company issued a redemption notice to redeem any 2024 Notes that remained outstanding after the Tender Offer. On June 7, 2024, the Company redeemed the $113.4 million principal amount of the 2024 Notes at the aggregate principal amount outstanding together with accrued and unpaid interest thereon to the redemption date. Secured Facility due 2028 On January 19, 2023, seven indirect wholly-owned subsidiaries of the Company entered into a term loan agreement secured by seven operating properties in the aggregate principal amount of $245.0 million (the “Secured Facility”). The Secured Facility has a scheduled maturity date of February 6, 2028 and may be prepaid in full on or after March 6, 2025, subject to a prepayment premium, and may be prepaid in full on or after August 6, 2027 without any prepayment premium. The Secured Facility bears interest at 5.88% per year through the maturity date and is interest-only (payable monthly) through the maturity date. Unsecured Credit Facility and Unsecured Term Loan On March 1, 2023, the Company entered into an unsecured one-year term loan agreement in the aggregate principal amount of $70.0 million (the “2023 Term Loan”). The 2023 Term Loan was scheduled to mature on February 28, 2024. In January 2024, the Company executed its option to extend for an additional twelve months to February 28, 2025 upon customary terms and conditions. The 2023 Term Loan bears interest at Daily Simple SOFR plus 1.90% with a 0.10% SOFR adjustment per year through the maturity date and is interest-only (payable monthly) through the maturity date. On June 30, 2022, the Company entered into the Second Amended and Restated Credit Agreement (as amended and restated, the “2022 Credit Agreement”). The 2022 Credit Agreement among other things: (i) maintains the total commitment under the line credit of $600.0 million (the “Revolving Credit Facility”) and provides an unsecured term loan in the initial amount of $250.0 million (the “Term Loan”) with a scheduled maturity date of June 30, 2027; (ii) extended the maturity date of the Revolving Credit Facility from July 15, 2022 to June 30, 2026, with two six-month extensions at the Company’s election subject to specified conditions and subject to payment of an extension fee; (iii) reduced the interest rate margins applicable to SOFR revolving loans; and (iv) provides for an additional interest rate option based on a floating SOFR rate. In connection with the amendments, the Company capitalized $4.7 million and $2.0 million in financing costs, related to the Revolving Credit Facility and the Term Loan, respectively. The financing costs will be amortized through the maturity dates for each of the Revolving Credit Facility and the Term Loan. Upon closing of the 2022 Credit Agreement, the Term Loan was funded in full and the proceeds thereof, together with cash on hand, were used to prepay in full the Company’s unsecured term loan (“Term Loan C”) in the principal amount of $250.0 million, together with accrued and unpaid interest thereon. Term Loan C was scheduled to mature on October 8, 2022. Under the 2022 Credit Agreement, the Company may, subject to specified terms and conditions (including receipt of commitments from one or more lenders, whether or not currently parties to the 2022 Credit Agreement), elect to increase the amount of the Revolving Credit Facility and/or Term Loan or request one or more new pari passu tranches of unsecured term loans (each, an “Incremental Facility”), provided that the aggregate amount of all such increases is limited to $500.0 million. Up to $50.0 million of borrowing availability under the 2022 Credit Agreement is available for the issuance of letter of credits. Borrowings under the Revolving Credit Facility bear interest at a rate equal to either (i) the SOFR rate plus a margin of 72.5 to 140 basis points, or (ii) a base rate plus a margin of 0 to 40 basis points: and the Term Loan and borrowings under an Incremental Facility bear interest at a rate equal to either (i) the SOFR rate plus a margin of 80 to 160 basis points, or (ii) a base rate plus a margin of 0 to 60 basis points. The applicable margin will be determined based upon the unsecured senior debt rating of the Operating Partnership or the absence of such a rating. The Company also pays a quarterly facility fee on the total commitments under the Revolving Credit Facility. The terms of the 2022 Credit Agreement require that the Company maintain customary financial and other covenants, including: (i) a fixed charge coverage ratio greater than or equal to 1.5 to 1.00; (ii) a leverage ratio less than or equal to 0.60 to 1.00, subject to specified exceptions; (iii) a ratio of unsecured indebtedness to unencumbered asset value less than or equal to 0.60 to 1.00, subject to specified exceptions; (iv) a ratio of secured indebtedness to total asset value less than or equal to 0.40 to 1.00; and (v) a ratio of unencumbered cash flow to interest expense on unsecured debt greater than 1.75 to 1.00. In addition, the 2022 Credit Agreement restricts payments of dividends and distributions on shares in excess of 95% of the Company's funds from operations (FFO) except to the extent necessary to enable the Company to continue to qualify as a REIT for federal income tax purposes. The Company had no outstanding borrowings under the Revolving Credit Facility as of December 31, 2024. During the twelve months ended December 31, 2024, the weighted-average interest rate on Revolving Credit Facility borrowings was 6.74% resulting in $2.1 million of interest expense. During the twelve months ended December 31, 2023 weighted-average interest rate on Revolving Credit Facility borrowings was 5.94% resulting in $0.6 million of interest expense. Secured Construction Loan due 2026 On August 15, 2023, the Company entered into a construction loan agreement secured by the development project at 155 King of Prussia Road in Radnor, Pennsylvania in the aggregate principal amount of $50.0 million (the “Construction Loan”). The Construction Loan has a scheduled maturity date of August 16, 2026 with an option to prepay at any time without a fee, premium or penalty. The Construction Loan bears interest at SOFR plus 2.5%. In connection with the Construction Loan, the Company has provided a completion guaranty, carry guaranty, and limited payment guarantee up to 20% of the loan commitment, as well as customary environmental indemnities and guaranty of customary exceptions to non-recourse provisions in the loan documents. Guaranteed Notes due 2028 On December 13, 2022, the Company completed an underwritten offering of $350.0 million aggregate principal amount of its 7.55% Guaranteed Notes due 2028 (the “2028 Notes”). The 2028 Notes were priced at 99.06% of their face amount and have been reflected net of a discount of approximately $3.3 million in the consolidated balance sheet as of December 31, 2022. The Company received approximately $344.6 million of proceeds after the deduction for underwriting discounts and offering expenses. The Company was in compliance with all financial covenants as of December 31, 2024. Certain of the covenants restrict the Company’s ability to obtain alternative sources of capital. As of December 31, 2024, the aggregate scheduled principal payments on the Company's debt obligations were as follows (in thousands): 2025 $ 70,000 2026 32,734 2027 700,000 2028 595,000 2029 750,000 Thereafter 78,610 Total principal payments 2,226,344 Net unamortized premiums/(discounts) (544) Net deferred financing costs (12,986) Outstanding indebtedness $ 2,212,814

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	9. FAIR VALUE OF FINANCIAL INSTRUMENTS The Company determined the fair values disclosed below using available market information and discounted cash flow analyses as of December 31, 2024 and 2023, respectively. The discount rate used in calculating fair value is the sum of the current risk free rate and the risk premium on the date of measurement of the instruments or obligations. Considerable judgment is necessary to interpret market data and to develop the related estimates of fair value. Accordingly, the estimates presented are not necessarily indicative of the amounts that the Company could realize upon disposition. The use of different estimates and valuation methodologies may have a material effect on the fair value amounts shown. The Company believes that the carrying amounts reflected in the consolidated balance sheets at December 31, 2024 and 2023 approximate the fair values for cash and cash equivalents, accounts receivable, other assets and liabilities, accounts payable and accrued expenses because they are short-term in duration. The following are financial instruments for which the Company’s estimates of fair value differ from the carrying amounts (in thousands): December 31, 2024 December 31, 2023 Carrying Amount (a) Fair Value Carrying Amount (a) Fair Value Unsecured notes payable $ 1,539,917 $ 1,537,210 $ 1,486,052 $ 1,386,621 Variable rate debt $ 430,293 $ 403,880 $ 410,932 $ 370,665 Fixed rate debt $ 242,605 $ 232,804 $ 241,847 $ 233,088 (a) Net of deferred financing costs of $9.5 million and $5.8 million for unsecured notes payable, $1.1 million and $1.5 million for variable rate debt and $2.4 million and $3.2 million for secured fix rate debt as of December 31, 2024 and December 31, 2023, respectively The Company used quoted market prices as of December 31, 2024 and December 31, 2023 to value the unsecured notes payable and, as such, categorized them as Level 2. The inputs utilized to determine the fair value of the Company’s variable rate debt are categorized as Level 3. The fair value of the variable rate debt was determined using a discounted cash flow model that considered borrowing rates available to the Company for loans with similar terms and characteristics. For the Company’s Level 3 financial instruments for which fair value is disclosed, an increase in the discount rate used to determine fair value would result in a decrease to the fair value. Conversely, a decrease in the discount rate would result in an increase to the fair value. Disclosure about the fair value of financial instruments is based upon pertinent information available to management as of December 31, 2024 and December 31, 2023. Although management is not aware of any factors that would significantly affect the fair value amounts, such amounts were not comprehensively revalued for purposes of these financial statements since December 31, 2024. Current estimates of fair value may differ from the amounts presented herein.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	10. DERIVATIVE FINANCIAL INSTRUMENTS Use of Derivative Financial Instruments The Company’s use of derivative instruments is limited to the utilization of interest rate agreements or other instruments to manage interest rate risk exposures and not for speculative purposes. The principal objective of such arrangements is to minimize the risks and/or costs associated with the Company’s operating and financial structure, as well as to hedge specific transactions. The counterparties to these arrangements are major financial institutions with which the Company and its affiliates may also have other financial relationships. The Company is potentially exposed to credit loss in the event of non-performance by these counterparties. However, because of the high credit ratings of the counterparties, the Company does not anticipate that any of the counterparties will fail to meet these obligations as they come due. The Company does not hedge credit or property value market risks through derivative financial instruments. The Company formally assesses, both at the inception of a hedge and on an on-going basis, whether each derivative is highly-effective in offsetting changes in cash flows of the hedged item. If management determines that a derivative is not highly-effective as a hedge or if a derivative ceases to be a highly-effective hedge, the Company will discontinue hedge accounting prospectively for either the entire hedge or the portion of the hedge that is determined to be ineffective. The related ineffectiveness would be charged to the consolidated statement of operations. The valuation of these instruments is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. To comply with the provisions of the accounting standard for fair value measurements and disclosures, the Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. The following table summarizes the terms and fair values of the Company’s derivative financial instruments as of December 31, 2024 and December 31, 2023. The notional amounts provide an indication of the extent of the Company’s involvement in these instruments at that time but do not represent exposure to credit, interest rate or market risks (amounts presented in thousands). Hedge Product Hedge Type Designation Notional Amount Strike Trade Date Maturity Date Fair value 12/31/2024 12/31/2023 12/31/2024 12/31/2023 Assets Swap Interest Rate Cash Flow (a) $ 250,000 $ — 3.713 % November 23, 2022 June 30, 2027 $ 1,666 $ — Swap Interest Rate Cash Flow (a) 27,062 — 3.629 % January 12, 2024 December 30, 2026 206 — Swap Interest Rate Cash Flow (a) 51,548 — 3.725 % January 12, 2024 January 30, 2027 313 — Liabilities Swap Interest Rate Cash Flow (a) $ — $ 250,000 3.713 % November 23, 2022 June 30, 2027 $ — $ (757) $ 328,610 $ 250,000 (a) Hedging unsecured variable rate debt. The Company measures its derivative instruments at fair value and records them in “Other assets” and “Other liabilities” on the Company’s consolidated balance sheets. Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. The Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its derivatives. As a result, the Company has determined that the inputs utilized to determine the fair value of derivative instruments are classified in Level 2 of the fair value hierarchy. Concentration of Credit Risk Concentrations of credit risk arise for the Company when multiple tenants of the Company are engaged in similar business activities, or are located in the same geographic region, or have similar economic features that impact in a similar manner their ability to meet contractual obligations, including those to the Company. The Company regularly monitors its tenant base to assess potential concentrations of credit risk. Management believes the current credit risk portfolio is reasonably well diversified and does not contain an unusual concentration of credit risk. No tenant accounted for 10% or more of the Company’s rents during 2024, 2023 and 2022.

LIMITED PARTNERS' NONCONTROLLIN

LIMITED PARTNERS' NONCONTROLLING INTERESTS IN THE PARENT COMPANY	12 Months Ended
	Dec. 31, 2024
Noncontrolling Interest [Abstract]
LIMITED PARTNERS' NONCONTROLLING INTERESTS IN THE PARENT COMPANY	11. LIMITED PARTNERS' NONCONTROLLING INTERESTS IN THE PARENT COMPANY Noncontrolling interests in the Parent Company’s financial statements relate to redeemable common limited partnership interests in the Operating Partnership held by parties other than the Parent Company and properties which are consolidated but not wholly owned by the Operating Partnership. Operating Partnership The aggregate book value of the noncontrolling interests associated with the redeemable common limited partnership interests in the accompanying consolidated balance sheet of the Parent Company was $3.1 million and $4.1 million as of December 31, 2024 and December 31, 2023, respectively. Under the applicable accounting guidance, the redemption value of limited partnership units are carried at fair value. The Parent Company believes that the aggregate settlement value of these interests (based on the number of units outstanding and the average closing price of the common shares during the last five business days of the quarter) was approximately $2.9 million and $2.8 million as of December 31, 2024 and December 31, 2023, respectively.

BENEFICIARIES' EQUITY OF THE PA

BENEFICIARIES' EQUITY OF THE PARENT COMPANY	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
BENEFICIARIES' EQUITY OF THE PARENT COMPANY	12. BENEFICIARIES' EQUITY OF THE PARENT COMPANY Earnings per Share (EPS) The following table details the number of shares and net income used to calculate basic and diluted earnings per share (in thousands, except share and per share amounts; results may not add due to rounding): Year Ended December 31, 2024 2023 2022 Basic Diluted Basic Diluted Basic Diluted Numerator Net income (loss) $ (196,487) $ (196,487) $ (197,403) $ (197,403) $ 53,992 $ 53,992 Net (income) loss attributable to noncontrolling interests 580 580 614 614 (168) (168) Nonforfeitable dividends allocated to unvested restricted shareholders (1,178) (1,178) (567) (567) (456) (456) Net income (loss) attributable to common shareholders $ (197,085) $ (197,085) $ (197,356) $ (197,356) $ 53,368 $ 53,368 Denominator Weighted-average shares outstanding 172,526,996 172,526,996 171,959,210 171,959,210 171,491,369 171,491,369 Contingent securities/Share-based compensation — — — — — 834,277 Weighted-average shares outstanding 172,526,996 172,526,996 171,959,210 171,959,210 171,491,369 172,325,646 Earnings (loss) per Common Share: Net income (loss) attributable to common shareholders $ (1.14) $ (1.14) $ (1.15) $ (1.15) $ 0.31 $ 0.31 The contingent securities/share-based compensation impact is calculated using the treasury stock method and relates to employee awards settled in shares of the Parent Company. The effect of these securities is anti-dilutive for periods that the Parent Company incurs a net loss from continuing operations available to common shareholders and therefore is excluded from the dilutive earnings per share calculation in such periods. Redeemable common limited partnership units totaling 515,595 at December 31, 2024, 515,595 at December 31, 2023 and 516,467 at December 31, 2022, respectively, were excluded from the diluted earnings per share computations because they are not dilutive. Unvested restricted shares are considered participating securities which require the use of the two-class method for the computation of basic and diluted earnings per share. For the years ended December 31, 2024, 2023 and 2022, earnings representing nonforfeitable dividends as noted in the table above were allocated to the unvested restricted shares issued to the Company’s executives and other employees under the Company's shareholder-approved long-term incentive plan. Common and Preferred Shares On December 10, 2024, the Parent Company declared a distribution of $0.15 per common share, totaling $26.3 million, which was paid on January 23, 2025 to shareholders of record as of January 8, 2025. The Parent Company maintains a common share repurchase program under which the Board of Trustees has authorized the Parent Company to repurchase common shares. On January 3, 2019, the Board of Trustees authorized the repurchase of up to $150.0 million common shares from and after January 3, 2019. During the years ended December 31, 2024 and 2023, no common shares were repurchased by the Company. Of the 20,000,000 preferred shares authorized, none were outstanding as of December 31, 2024 or December 31, 2023. Common Share Repurchases

PARTNERS' EQUITY OF THE PARENT

PARTNERS' EQUITY OF THE PARENT COMPANY	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
PARTNERS' EQUITY OF THE PARENT COMPANY	13. PARTNERS' EQUITY OF THE PARENT COMPANY Earnings per Common Partnership Unit The following table details the number of units and net income used to calculate basic and diluted earnings per common partnership unit (in thousands, except unit and per unit amounts; results may not add due to rounding): Year Ended December 31, 2024 2023 2022 Basic Diluted Basic Diluted Basic Diluted Numerator Net income (loss) $ (196,487) $ (196,487) $ (197,403) $ (197,403) $ 53,992 $ 53,992 Net (income) loss attributable to noncontrolling interests (5) (5) 22 22 2 2 Nonforfeitable dividends allocated to unvested restricted unitholders (1,178) (1,178) (567) (567) (456) (456) Net income (loss) attributable to common unitholders $ (197,670) $ (197,670) $ (197,948) $ (197,948) $ 53,538 $ 53,538 Denominator Weighted-average units outstanding 173,042,591 173,042,591 172,475,645 172,475,645 172,036,481 172,036,481 Contingent securities/Share-based compensation — — — — — 834,277 Total weighted-average units outstanding 173,042,591 173,042,591 172,475,645 172,475,645 172,036,481 172,870,758 Earnings (loss) per Common Partnership Unit: Net income (loss) attributable to common unitholders $ (1.14) $ (1.14) $ (1.15) $ (1.15) $ 0.31 $ 0.31 Unvested restricted units are considered participating securities which require the use of the two-class method for the computation of basic and diluted earnings per unit. For the years ended December 31, 2024, 2023 and 2022, earnings representing nonforfeitable dividends were allocated to the unvested restricted units issued to the Parent Company’s executives and other employees under the Parent Company’s shareholder-approved long-term incentive plan. Common Partnership Units and Preferred Mirror Units The Operating Partnership issues partnership units to the Parent Company in exchange for the contribution of the net proceeds of any equity security issuance by the Parent Company. The number and terms of such partnership units correspond to the number and terms of the related equity securities issued by the Parent Company. In addition, the Operating Partnership may also issue separate classes of partnership units. Historically, the Operating Partnership has had the following types of partnership units outstanding: (i) Preferred Partnership Units which have been issued to parties other than the Parent Company; (ii) Preferred Mirror Partnership Units which have been issued to the Parent Company; and (iii) Common Partnership Units which include both interests held by the Parent Company and those held by other limited partners. Preferred Mirror Partnership Units In exchange for the proceeds received in corresponding offerings by the Parent Company of preferred shares of beneficial interest, the Operating Partnership has issued to the Parent Company a corresponding amount of Preferred Mirror Partnership Units with terms consistent with that of the preferred securities issued by the Parent Company. No preferred units were outstanding as of December 31, 2024 or December 31, 2023. Common Partnership Units (Redeemable and General) The Operating Partnership has two classes of Common Partnership Units outstanding as of December 31, 2024: (i) Class A Limited Partnership Interest which are held by both the Parent Company and outside third parties and (ii) General Partnership Interests which are held solely by the Parent Company (collectively, the Class A Limited Partnership Interest, and General Partnership Interests are referred to as “Common Partnership Units”). The holders of the Common Partnership Units are entitled to share in cash distributions from, and in profits and losses of, the Operating Partnership, in proportion to their respective percentage interests, subject to preferential distributions on the preferred mirror units and the preferred units. The Common Partnership Units held by the Parent Company (comprised of both General Partnership Units and Class A Limited Partnership Units) are presented as partner’s equity in the consolidated financial statements. Class A Limited Partnership Interest held by parties other than the Parent Company are redeemable at the option of the holder for a like number of common shares of the Parent Company, or cash, or a combination thereof, at the election of the Parent Company. Because the form of settlement of these redemption rights are not within the control of the Operating Partnership, these Common Partnership Units have been excluded from partner’s equity and are presented as redeemable limited partnership units measured at the potential cash redemption value as of the end of the periods presented based on the closing market price of the Parent Company’s common shares at December 31, 2024, 2023 and 2022, which was $5.60, $5.40 and $6.15, respectively. Class A Units of 515,595 as of December 31, 2024, 515,595 as of December 31, 2023, and 516,467 as of December 31, 2022, respectively, were outstanding and owned by outside limited partners of the Operating Partnership. On December 10, 2024, the Operating Partnership declared a distribution of $0.15 per common partnership unit, totaling $26.3 million, which was paid on January 23, 2025 to unitholders of record as of January 8, 2025. Common Unit Repurchases In connection with the Parent Company’s common share repurchase program, one common unit of the Operating Partnership is retired for each common share repurchased. During the years ended December 31, 2024 and 2023, the Company did not repurchase any units.

SHARE-BASED COMPENSATION, 401(K

SHARE-BASED COMPENSATION, 401(K) PLAN AND DEFERRED COMPENSATION	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION, 401(K) PLAN AND DEFERRED COMPENSATION	14. SHARE-BASED COMPENSATION, 401(K) PLAN AND DEFERRED COMPENSATION 401(k) Plan The Company sponsors a 401(k) defined contribution plan for its employees. Each employee may contribute up to 100% of annual compensation, subject to specific limitations under the Internal Revenue Code. At its discretion, the Company can make matching contributions equal to a percentage of the employee’s elective contribution and profit sharing contributions. The Company funds its 401(k) contributions annually and plan participants must be employed as of December 31 in order to receive employer contributions, except for employees eligible for qualifying retirement, as defined under the Internal Revenue Code. The Company contributions were $0.9 million, $0.7 million, and $0.4 million in 2024, 2023, and 2022, respectively. Restricted Share Unit Awards As of December 31, 2024, 1,783,508 restricted share rights and units (“Restricted Share Units”) were outstanding under the Company's long term equity incentive plan. These Restricted Share Units vest over one The following table summarizes the Company’s Restricted Share Units activity during the year-ended December 31, 2024: Shares Weighted Average Grant Date Fair Value Non-vested at January 1, 2024 889,166 $ 8.79 Granted 1,519,393 $ 4.15 Vested (542,196) $ 8.33 Forfeited (82,855) $ 5.41 Non-vested at December 31, 2024 1,783,508 $ 5.13 On February 26, 2024, the Compensation Committee awarded to officers of the Company an aggregate of 1,251,803 Restricted Share Units, which vest over three years from the grant date. Each Restricted Share Right entitles the holder to one common share upon settlement. The Parent Company pays dividend equivalents on the Restricted Share Units prior to the settlement date. Vesting and/or settlement would accelerate if the recipient of the award were to die, become disabled or, in the case of certain of such Restricted Share Units, retire in a qualifying retirement prior to the vesting or settlement date. Qualifying retirement generally means the recipient’s voluntary termination of employment after reaching at least age 57 and accumulating at least 15 years of service with the Company. In addition, vesting would also accelerate if the Parent Company were to undergo a change of control and, on or before the first anniversary of the change of control, the recipient’s employment were to cease due to a termination without cause or resignation with good reason. The Restricted Share Units granted in 2024, 2023, and 2022 to certain senior executives include an “outperformance feature” whereby additional shares may be earned, up to 275% of the shares subject to the basic award, based on the Company’s achievement of earnings-based targets and capital markets based targets during a three-year performance period with an additional 366 days of service generally required to fully vest. In addition to the basic award, up to an aggregate of 2,669,293, 925,642, and 406,179 shares may be awarded under the outperformance feature for the 2024, 2023, and 2022 awards, respectively, to those senior officers whose Restricted Share Units awards include the “outperformance feature.” As of December 31, 2024, the Company has recognized $2.1 million and $4.0 million of compensation expense related to the outperformance features for the 2022 awards and 2023 awards respectively and has not recognized any compensation expense related to the outperformance feature for the 2024 awards. The Company will continue to evaluate progression towards achievement of the performance metrics on a quarterly basis and recognize compensation expense for the outperformance feature of these awards should it be determined that achievement of these metrics is probable. In accordance with the accounting standard for share-based compensation, the Company amortizes share-based compensation costs through the qualifying retirement dates for those grantees who meet the conditions for qualifying retirement during the scheduled vesting period and whose award agreements provide for vesting upon a qualifying retirement or qualifying retirement eligibility. In addition, on February 26, 2024, the Compensation Committee awarded non-officer employees an aggregate of 142,320 Restricted Share Units that generally vest in three equal annual installments. Vesting of these awards is subject to acceleration upon death, disability or termination without cause within one year following a change of control. Restricted Performance Share Units Awards The Compensation Committee of the Parent Company’s Board of Trustees has granted performance based restricted share unit awards (referred to as Restricted Performance Share Units, or RPSUs) to officers of the Parent Company. The RPSUs are settled in common shares, with the number of common shares issuable in settlement varying between zero and 200% of the target amount based on the achievement of certain performance or market conditions. For 2022 and 2023 awards, the number of shares issuable is determined based on the Company’s total shareholder return over specified measurement periods compared to total shareholder returns of comparative groups over the measurement periods (“Relative TSR”). For 2024 awards, the number of common shares issuable is determined based on the Company’s achievement of certain operating metrics during three RPSU Grant Date 3/3/2022 2/16/2023 2/26/2024 Total (Amounts below in shares, unless otherwise noted) Non-vested at January 1, 2024 513,038 1,057,173 — 1,570,211 Granted — — 417,268 417,268 Units Vested (9,877) (19,484) — (29,361) Units Cancelled (17,919) (37,802) (41,300) (97,021) Non-vested at December 31, 2024 485,242 999,887 375,968 1,861,097 Measurement Period Commencement Date 1/1/2022 1/1/2023 1/1/2024 Measurement Period End Date 12/31/2024 12/31/2025 12/31/2026 Awarded 516,852 1,057,173 1,251,803 Fair Value of Units on Grant Date (in thousands) $ 6,872 $ 7,125 $ 5,145 The Company values each RPSU on its grant date using a Monte Carlo simulation. The fair values of each award are being amortized over the three-year performance period. If an award's service inception date precedes the grant date, we initially measure compensation expense for awards with performance conditions at fair value at the service inception date based on probability of payout, and we remeasure compensation expense at subsequent reporting dates until all of the award’s key terms and conditions are known and the grant date is established. We amortize awards with performance conditions using the graded expense method. For 2022 and 2023 awards, the performance period will be abbreviated and the determination and delivery of earned shares will be accelerated in the event of a change in control or if the recipient of the award were to die, become disabled or retire in a qualifying retirement prior to the end of the otherwise applicable three-year performance period; provided that, in the case of qualifying retirement, the number of shares deliverable will be pro-rated based on the portion of the performance period actually worked before retirement. The target number of shares subject to 2024 RPSU awards was 1,251,803, of which 417,268 were deemed to have a grant date in 2024. The remainder of the 2024 awards will have a grant date in 2025 or 2026, when the performance conditions for those years are established by the Compensation Committee. The determination and delivery of earned shares will be accelerated in the event of a change in control or the award recipient’s death before the end of the full three-year term of the award. If the award recipient’s service ceases due to his or her qualifying retirement or disability during the term of the award, the award will remain outstanding and be earned based on actual performance for the full term of the award, subject to pro-ration based on the portion of the term actually worked. Dividend equivalents will be credited as additional RPSUs during the term of the awards, subject to the same terms and conditions as the original RPSUs. For the year ended December 31, 2024, the Company recognized amortization of the 2024, 2023 and 2022 RPSU awards of $8.0 million, of which $1.4 million was capitalized consistent with the Company’s policies for capitalizing eligible portions of employee compensation. For the year ended December 31, 2023, amortization for the 2023, 2022 and 2021 RPSU awards was $6.9 million, of which $0.9 million was capitalized consistent with the Company’s policies for capitalizing eligible portions of employee compensation. For the year ended December 31, 2022, amortization for the 2022, 2021, and 2020 RPSU awards was $6.2 million, of which $1.1 million was capitalized consistent with the Company’s policies for capitalizing eligible portions of employee compensation. The remaining compensation expense to be recognized with respect to the non-vested RPSUs at December 31, 2024 was approximately $6.8 million and is expected to be recognized over a weighted average remaining vesting period of 1.4 years. The Company issued 164,461 common shares on February 1, 2024 in settlement of RPSUs that had been awarded on March 5, 2021 (with a three-year measurement period ended December 31, 2023 ). Holders of these RPSUs also received a cash dividend of $0.15 per share for these common shares on January 18, 2024. Employee Share Purchase Plan The Parent Company’s shareholders approved the 2007 Non-Qualified Employee Share Purchase Plan (the “ESPP”), which is intended to provide eligible employees with a convenient means to purchase common shares of the Parent Company through payroll deductions and voluntary cash purchases at an amount equal to 85% of the average closing price per share for a specified period. Under the plan document, the maximum participant contribution for the 2024 plan year is limited to the lesser of 20% of compensation or $50,000. The ESPP allows the Parent Company to make open market purchases, which reflects all purchases made under the plan to date. In addition, the number of shares separately reserved for issuance under the ESPP is 1.25 million . E mployees made purchases under the ESPP of $0.4 million during the year ended December 31, 2024, $0.4 million during the year ended December 31, 2023 and $0.6 million during the year ended December 31, 2022. The Company recognized $0.1 million of compensation expense related to the ESPP during the year ended December 31, 2024 , $0.1 million for the year ended December 31, 2023, and $0.02 million for the year ended December 31, 2022. Compensation expense represents the 15% discount on the purchase price. The Board of Trustees of the Parent Company may terminate the ESPP at its sole discretion at any time. Deferred Compensation In January 2005, the Parent Company adopted a Deferred Compensation Plan (the “Plan”) that allows trustees and certain key employees to defer compensation voluntarily. Compensation expense is recorded for the deferred compensation and a related liability is recognized. Participants may elect designated benchmark investment options for the notional investment of their deferred compensation. The deferred compensation obligation is adjusted for deemed income or loss related to the investments selected. At the time the participants defer compensation, the Company records a liability, which is included in the Company’s consolidated balance sheets. The liability is adjusted for changes in the market value of the participant-selected investments at the end of each accounting period, and the impact of adjusting the liability is recorded as an increase or decrease to compensation cost. The Company has purchased insurance policies and mutual funds which can be utilized as a funding source for the Company’s obligations under the Plan. Participants in the Plan have no interest in any assets set aside by the Company to meet its obligations under the Plan. For each of the years ended December 31, 2024, December 31, 2023 and December 31, 2022, the Company recorded a nominal amount of deferred compensation costs, net of investments in the company-owned insurance policies and mutual funds. Participants in the Plan may elect to have all, or a portion of their deferred compensation invested in the Company’s common shares. The Company holds these shares in a rabbi trust, which is subject to the claims of the Company’s creditors in the event of the Company’s bankruptcy or insolvency. The Plan does not permit diversification of a participant’s deferral allocated to the Company common shares and deferrals allocated to Company common shares can only be settled with a fixed number of shares. In accordance with the accounting standard for deferred compensation arrangements where amounts earned are held in a rabbi trust and invested, the deferred compensation obligation associated with the Company’s common shares is classified as a component of shareholder’s equity and the related shares are treated as shares to be issued and are included in total shares outstanding. At both December 31, 2024 and 2023, 1.2 million of such shares were included in total shares outstanding, respectively. Subsequent changes in the fair value of the common shares are not reflected in operations or shareholders’ equity of the Company.

DISTRIBUTIONS

DISTRIBUTIONS	12 Months Ended
	Dec. 31, 2024
Distributions [Abstract]
DISTRIBUTIONS	15. DISTRIBUTIONS The following table provides the tax characteristics of the 2024, 2023 and 2022 distributions paid: Years ended December 31, 2024 2023 2022 (in thousands, except per share amounts) Common Share Distributions: Ordinary income $ 0.23 $ 0.39 $ 0.47 Capital gain 0.03 0.03 0.29 Non-taxable distributions 0.34 0.30 — Distributions per share $ 0.60 $ 0.72 $ 0.76 Percentage classified as ordinary income 38.60 % 54.40 % 62.10 % Percentage classified as capital gain 4.90 % 4.00 % 37.90 % Percentage classified as non-taxable distribution 56.50 % 41.60 % — %

INCOME TAXES AND TAX CREDIT TRA

INCOME TAXES AND TAX CREDIT TRANSACTIONS	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES AND TAX CREDIT TRANSACTIONS	16. INCOME TAXES AND TAX CREDIT TRANSACTIONS Income Tax Provision/Benefit The Company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases, and for net operating loss, capital loss and tax credit carryforwards. The deferred tax assets and liabilities are measured using the enacted income tax rates in effect for the year in which those temporary differences are expected to be realized or settled. The effect on the deferred tax assets and liabilities from a change in tax rates is recognized in earnings in the period when the new rate is enacted. However, deferred tax assets are recognized only to the extent that it is more likely than not that they will be realized based on consideration of all available evidence, including the future reversals of existing taxable temporary differences, future projected taxable income and tax planning strategies. Valuation allowances are provided if, based upon the weight of the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. As of December 31, 2024 and 2023 there were no deferred tax assets included within “Other assets” in the consolidated balance sheets. The Company had no accruals for tax uncertainties as of December 31, 2024 and December 31, 2023. For the years ended December 31, 2024, 2023 and 2022, there was no deferred income tax expense and de minimis current income tax expense. These amounts are included in “Income tax provision” in the consolidated statements of operations.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	17. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table details the components of accumulated other comprehensive income (loss) of the Parent Company and the Operating Partnership as of and for the three years ended December 31, 2024 (in thousands): Parent Company Cash Flow Hedges Balance at January 1, 2022 $ (2,020) Change in fair market value during year 5,371 Allocation of unrealized (gains)/losses on derivative financial instruments to noncontrolling interests (18) Amortization of interest rate contracts reclassified from comprehensive income to interest expense 564 Balance at December 31, 2022 $ 3,897 Change in fair market value during year (4,579) Allocation of unrealized (gains)/losses on derivative financial instruments to noncontrolling interests 14 Amortization of interest rate contracts reclassified from comprehensive income to interest expense — Balance at December 31, 2023 $ (668) Change in fair market value during year 3,200 Allocation of unrealized (gains)/losses on derivative financial instruments to noncontrolling interests (11) Amortization of interest rate contracts reclassified from comprehensive income to interest expense — Balance at December 31, 2024 $ 2,521 Operating Partnership Cash Flow Hedges Balance at January 1, 2022 $ (2,366) Change in fair market value during year 5,371 Amortization of interest rate contracts reclassified from comprehensive income to interest expense 564 Balance at December 31, 2022 $ 3,569 Change in fair market value during year (4,579) Amortization of interest rate contracts reclassified from comprehensive income to interest expense — Balance at December 31, 2023 $ (1,010) Change in fair market value during year 3,200 Amortization of interest rate contracts reclassified from comprehensive income to interest expense — Balance at December 31, 2024 $ 2,190

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
SEGMENT INFORMATION	18. SEGMENT INFORMATION As of December 31, 2024, the Company owns and manages properties within four segments: (1) Philadelphia Central Business District (“Philadelphia CBD”), (2) Pennsylvania Suburbs, (3) Austin, Texas and (4) Other. The Philadelphia CBD segment includes properties located in the City of Philadelphia, Pennsylvania. The Pennsylvania Suburbs segment includes properties in Chester, Delaware, and Montgomery counties in the Philadelphia suburbs. The Austin, Texas segment includes properties in the City of Austin, Texas. The Other segment includes properties located in Washington, D.C., Northern Virginia, Southern Maryland, Camden County, New Jersey and New Castle County, Delaware. In addition to the four segments, the corporate group is responsible for cash and investment management, development of certain real estate properties during the construction period, and certain other general support functions. Land held for development and construction in progress is transferred to operating properties by region upon completion of the associated construction or project. Brandywine’s President and Chief Executive Officer has been identified as Brandywine’s Chief Operating Decision Maker (“CODM”), as defined in ASC 280. The CODM evaluates Brandywine's portfolio and assesses the ongoing operations and performance of its projects utilizing the geographic segments listed above. The following tables provide selected asset information and results of operations of the Company’s reportable segments (in thousands): Real estate investments, at cost: December 31, 2024 December 31, 2023 Philadelphia CBD $ 1,556,696 $ 1,534,893 Pennsylvania Suburbs 869,179 900,230 Austin, Texas 671,150 801,973 Total Core Segments 3,097,025 3,237,096 Other 277,755 305,136 Operating Properties $ 3,374,780 $ 3,542,232 Corporate Right of use asset - operating leases, net $ 18,412 $ 19,031 Construction-in-progress $ 94,628 $ 135,529 Land held for development $ 81,318 $ 82,510 Prepaid leasehold interests in land held for development, net $ 27,762 $ 27,762 . Net operating income: Year Ended December 31, 2024 2023 2022 Total revenue Operating expenses (a) Net operating income Total revenue Operating expenses (a) Net operating income Total revenue Operating expenses (a) Net operating income Philadelphia CBD $ 225,986 $ (81,061) $ 144,925 $ 230,933 $ (79,579) $ 151,354 $ 220,875 $ (79,827) $ 141,048 Pennsylvania Suburbs 125,011 (38,822) 86,189 129,300 (39,584) 89,716 128,940 (41,814) 87,126 Austin, Texas 87,208 (34,033) 53,175 95,505 (38,453) 57,052 96,329 (41,141) 55,188 Other 42,139 (20,698) 21,441 39,306 (21,134) 18,172 36,610 (21,165) 15,445 Corporate 25,173 (12,716) 12,457 19,607 (11,197) 8,410 23,346 (10,454) 12,892 Operating properties $ 505,517 $ (187,330) $ 318,187 $ 514,651 $ (189,947) $ 324,704 $ 506,100 $ (194,401) $ 311,699 (a) Includes property operating expense, real estate taxes and third party management expense. Unconsolidated real estate ventures: Investment in real estate ventures, at equity Equity in income (loss) of real estate venture As of Year ended December 31, December 31, 2024 December 31, 2023 2024 2023 2022 Philadelphia CBD $ 452,334 $ 450,136 $ (155,567) $ (25,793) $ (11,764) Mid-Atlantic Office JV 10,844 — 7,141 (26,448) 412 MAP Venture — (48,733) (6,542) (10,581) (8,340) Austin, Texas 90,495 79,160 (4,001) — — Other $ 16,782 $ 71,931 $ (32,616) $ (15,093) $ (2,324) Total $ 570,455 $ 552,494 $ (191,585) $ (77,915) $ (22,016) Net operating income (“NOI”) is a non-GAAP financial measure, which we define as total property revenue less property operating expenses, real estate taxes, and third party management expenses. Property operating expenses that are included in determining NOI consist of costs that are necessary and allocable to our operating properties such as utilities, property-level salaries, repairs and maintenance, property insurance and management fees. General and administrative expenses that are not reflected in NOI primarily consist of corporate-level salaries, amortization of share awards and professional fees that are incurred as part of corporate office management. NOI presented by the Company may not be comparable to NOI reported by other companies that define NOI differently. NOI by geographic segment is the primary measure that is used by the Company's CODM to evaluate the operating performance of the Company's real estate assets by segment. The CODM utilizes NOI as it provides useful information regarding the financial condition and results of operations because it reflects only those income and expense items that are incurred at the property level. While NOI is a relevant and widely used measure of operating performance of real estate investment trusts, it does not represent cash flow from operations or net income as defined by GAAP and should not be considered as an alternative to those measures in evaluating our liquidity or operating performance. NOI does not reflect interest expenses, real estate impairment losses, depreciation and amortization costs, capital expenditures and leasing costs. The Company believes that net income (loss), as defined by GAAP, is the most appropriate earnings measure. The following is a reconciliation of consolidated net income (loss), as defined by GAAP, to consolidated NOI, (in thousands): Year Ended December 31, 2024 2023 2022 Net income (loss) $ (196,487) $ (197,403) $ 53,992 Plus: Interest expense 116,306 95,456 68,764 Interest expense - amortization of deferred financing costs 5,000 4,369 3,091 Depreciation and amortization 178,168 188,797 177,984 General and administrative expenses 42,781 34,862 35,006 Equity in loss of unconsolidated real estate ventures 191,585 77,915 22,016 Provision for impairment 44,655 131,573 4,663 Gain (loss) on early extinguishment of debt (941) (138) 435 Less: Interest and investment income 3,847 1,671 1,905 Income tax provision (14) (72) (55) Net gain on disposition of real estate 2,297 7,736 17,677 Net gain on sale of undepreciated real estate — 1,211 8,007 Net gain on real estate venture transactions 56,750 181 26,718 Consolidated net operating income $ 318,187 $ 324,704 $ 311,699

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	19. COMMITMENTS AND CONTINGENCIES Legal Proceedings The Company is involved from time to time in litigation on various matters, including disputes with tenants, disputes with vendors, employee disputes and disputes arising out of agreements to purchase or sell properties or joint ventures or disputes relating to state and local taxes. Given the nature of the Company’s business activities, these lawsuits are considered routine to the conduct of its business. The result of any particular lawsuit cannot be predicted, because of the very nature of litigation, the litigation process and its adversarial nature, and the jury system. The Company will establish reserves for specific legal proceedings when it determines that the likelihood of an unfavorable outcome is probable and when the amount of loss is reasonably estimable. The Company does not expect that the liabilities, if any, that may ultimately result from such legal actions will have a material adverse effect on the consolidated financial position, results of operations or cash flows of the Company. Environmental As an owner of real estate, the Company is subject to various environmental laws of federal, state, and local governments. The Company’s compliance with existing laws has not had a material adverse effect on its financial condition and results of operations, and the Company does not believe it will have a material adverse effect in the future. However, the Company cannot predict the impact of unforeseen environmental contingencies or new or changed laws or regulations on its current Properties or on properties that the Company may acquire. Debt Guarantees As of December 31, 2024, the Company's unconsolidated real estate ventures had aggregate indebtedness of $757.0 million. These loans are generally mortgage or construction loans, most of which are nonrecourse to the Company, except for customary recourse carve-outs. In addition, during construction undertaken by the unconsolidated real estate ventures, including the 3025 JFK Venture, the 3151 Market Street Venture, and the One Uptown Ventures, the Company has provided, and expects to continue to provide, cost overrun completion carry limited payment and guarantees, as well as customary environmental indemnities and guarantees of customary exceptions to nonrecourse provisions in loan agreements and in certain circumstances, joint venture agreements. In accordance with its agreement with its partner in the 3025 JFK Venture, the Company provided cost overrun and completion guarantees for the project under development. With respect to the construction loan obtained by 3025 JFK Venture on July 23, 2021, the Company also provided a carry guarantee and limited payment guarantee up to 25% of the principal balance of the $186.7 million construction loan. In the agreement with its partner in the 3151 Market Street Venture, the Company agreed to provide cost overrun and completion guaranties for the project under development. As of December 31, 2024, total estimated costs to develop 3151 Market Street are approximately $316.9 million and as of such date, the Company has fully funded its share of equity. However, the development budget for this project contemplated receipt of a construction loan of approximately $174.3 million, reflecting a 55% loan to value ratio and, as of the date of this Annual Report on Form 10-K, no construction loan has been obtained and there can be no assurance that a loan will be obtained. In the event that costs are incurred before permanent financing has been obtained, the Company expects to fund such costs through its credit facilities and cash on hand. With respect to the One Uptown Ventures, the Company has provided completion guarantees and environmental indemnities in favor of its partner. In addition, the Company has provided completion guarantees, environmental indemnities and guarantees of exceptions to nonrecourse loan provisions in favor of the lenders for the One Uptown Ventures. Moreover, the Company has provided, in favor of the lenders, carry guarantees and limited payment guarantees up to 30% and 15% of the principal balance of the $121.7 million (office) and $85.0 million (multifamily) construction loans, respectively. The Company has agreed, pursuant to the leasehold mortgage loan to the New MAP Venture, to fund up to an additional $12.0 million for tenant and capital improvements pursuant to leases that the Company proposes, in its discretion, to enter into at the properties owned (through leasehold interests) by the New MAP Venture, which amounts, when funded, will accrue interest at 8.0% per annum. As of December 31, 2024 the company has not funded any additional capital pursuant to the leasehold mortgage loan. Impact of Natural Disasters and Casualty The Company carries liability insurance to mitigate its exposure to certain losses, including those relating to property damage. The Company records the estimated amount of expected insurance proceeds for property damage and other losses incurred as an asset (typically a receivable from the insurer) and income up to the amount of the losses incurred when receipt of insurance proceeds is deemed probable. Any amount of insurance recovery in excess of the amount of the losses is considered a gain contingency and is not recorded until the proceeds are received. During year ended December 31, 2022, the Company recognized a $0.8 million reduction of the previously estimated restoration costs and also received $2.8 million of additional insurance proceeds. The reduction of the restoration costs and additional insurance proceeds are included in other income on the consolidated statement of operations. Other Commitments or Contingencies In connection with the Schuylkill Yards Project, the Company entered into a neighborhood engagement program and, as of December 31, 2024, had $5.2 million of future fixed contractual obligations. The Company also committed to fund additional contributions under the program. As of December 31, 2024, the Company estimates that these additional contributions, which are not fixed under the terms of agreement, will be $2.0 million. As part of the Company’s September 2004 acquisition of a portfolio of properties (which the Company refers to as the “TRC acquisition”), the Company acquired its interest in Two Logan Square, a 708,844 square foot office building in Philadelphia, Pennsylvania primarily through its ownership of a second and third mortgage secured by this property. This property is consolidated, as the borrower is a variable interest entity and the Company, through its ownership of the second and third mortgages, is the primary beneficiary. On October 21, 2020, the Company also acquired the $79.8 million first mortgage on the property from the third-party mortgage lender pursuant to an agreement with certain of the former owners. Under the agreement, the Company has agreed to not take title to Two Logan until the earlier of June 2026 or the occurrence of certain events related to the ownership interests of certain former owners. If the Company were to sell the restricted property before the expiration of the restricted period in a non-exempt transaction, the Company may be required to make significant payments to certain of the former owners of Two Logan Square on account of tax liabilities attributed to them. Additionally, the Company will be required to pay these certain former owners an amount estimated at approximately $0.6 million to redeem their residual interest in the fee owner of this property. The $0.6 million payment is included within “Other liabilities” on the consolidated balance sheets. The Company has also committed $15.0 million to a newly-formed venture capital fund investing in early-stage life science companies. As of December 31, 2024, the Company had funded $2.7 million of the foregoing commitment. The Company invests in its properties and regularly incurs capital expenditures in the ordinary course of business to maintain the properties. The Company believes that such expenditures enhance its competitiveness. The Company also enters into construction, utility and service contracts in the ordinary course of business which may extend beyond one year. These contracts typically provide for cancellation with insignificant or no cancellation penalties.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II Valuation and Qualifying Accounts	Schedule II Valuation and Qualifying Accounts (in thousands) Description Balance at Beginning of Year Additions Deductions (1) Balance at End of Year Allowance for doubtful accounts: December 31, 2024 $ 2,672 $ — $ 1,763 $ 909 December 31, 2023 $ 3,947 $ — $ 1,275 $ 2,672 December 31, 2022 $ 4,133 $ — $ 186 $ 3,947 (1)

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Real Estate and Accumulated Depreciation	BRANDYWINE REALTY TRUST AND BRANDYWINE OPERATING PARTNERSHIP, L.P. Schedule III Real Estate and Accumulated Depreciation — December 31, 2024 (in thousands) Initial Cost Gross Amount Which Carried Property Name City State Encumbrances Land Building & Improvements Net Improvements (Retirements) Since Acquisition Land Building & Improvements Total (a) Accumulated Depreciation at December 31, 2024 (b) Year of Construction Year Acquired Depreciable Life PENNSYLVANIA SUBURBS Six Tower Bridge (181 Washington Street) Conshohocken PA $ — $ 6,927 $ 14,722 $ 1,329 $ 6,236 $ 16,742 $ 22,978 $ 5,718 1999 2013 (c) 426 Lancaster Avenue Devon PA — 1,689 6,756 9,405 1,686 16,164 17,850 4,954 1990 1998 (c) 640 Freedom Business Center (d) King Of Prussia PA — 1,015 20,098 5,404 278 26,239 26,517 18,254 1991 1998 (c) 620 Freedom Business Center (d) King Of Prussia PA — 666 13,118 2,804 181 16,407 16,588 11,175 1986 1998 (c) 1000 First Avenue King Of Prussia PA — — 13,708 3,093 — 16,801 16,801 13,161 1980 1998 (c) 1060 First Avenue King Of Prussia PA — — 13,665 3,851 — 17,516 17,516 14,273 1987 1998 (c) 630 Freedom Business Center Drive (d) King Of Prussia PA — 666 13,251 3,256 183 16,990 17,173 12,119 1989 1998 (c) 1020 First Avenue King Of Prussia PA — — 10,744 4,038 — 14,782 14,782 11,908 1984 1998 (c) 1040 First Avenue King Of Prussia PA — — 14,142 4,870 — 19,012 19,012 15,592 1985 1998 (c) 610 Freedom Business Center Drive King Of Prussia PA — 485 9,602 1,688 133 11,642 11,775 8,553 1985 1998 (c) 650 Park Avenue King Of Prussia PA — 1,916 4,378 (4,378) 1,916 — 1,916 — 1968 1998 (c) 600 Park Avenue King Of Prussia PA — 1,012 4,048 — 1,012 4,048 5,060 2,800 1964 1998 (c) 933 First Avenue King Of Prussia PA 15,960 3,127 20,794 (1,125) 3,127 19,669 22,796 6,561 2017 N/A (c) 500 North Gulph Road King Of Prussia PA 16,121 1,303 5,201 22,039 1,303 27,240 28,543 6,941 1979 1996 (c) 401 Plymouth Road Plymouth Meeting PA — 6,199 16,131 16,500 6,198 32,632 38,830 17,624 2001 2000 (c) Metroplex (4000 Chemical Road) Plymouth Meeting PA 16,055 4,373 24,546 5,554 4,373 30,100 34,473 12,291 2007 2001 (c) Metroplex II Plymouth Meeting PA — — — 569 — 569 569 44 N/A 2001 (c) Metroplex III Plymouth Meeting PA — — — 317 — 317 317 25 N/A 2005 351 Plymouth Road Plymouth Meeting PA — 1,043 555 — 1,043 555 1,598 274 N/A 2000 (c) 150 Radnor Chester Road Radnor PA — 11,925 36,986 21,369 11,897 58,383 70,280 32,006 1983 2004 (c) One Radnor Corporate Center Radnor PA — 7,323 28,613 3,694 7,323 32,307 39,630 20,198 1998 2004 (c) 201 King of Prussia Road Radnor PA — 8,956 29,811 8,481 8,949 38,331 47,280 26,302 2001 2004 (c) 555 Lancaster Avenue Radnor PA — 8,014 16,508 13,005 8,609 28,918 37,527 12,138 1973 2004 (c) Four Radnor Corporate Center Radnor PA — 5,406 21,390 8,096 5,705 29,187 34,892 17,614 1995 2004 (c) Five Radnor Corporate Center Radnor PA — 6,506 25,525 9,361 6,578 34,814 41,392 18,632 1998 2004 (c) Three Radnor Corporate Center Radnor PA — 4,773 17,961 2,621 4,791 20,564 25,355 13,449 1998 2004 (c) Two Radnor Corporate Center Radnor PA — 3,937 15,484 5,469 3,942 20,948 24,890 10,943 1998 2004 (c) 130 Radnor Chester Road Radnor PA — 2,573 8,338 141 2,567 8,485 11,052 4,562 1983 2004 (c) 170 Radnor Chester Road Radnor PA — 2,514 8,147 1,840 2,509 9,992 12,501 5,586 1983 2004 (c) 155 King of Prussia Road Radnor PA 32,734 — — 62,181 11,432 50,749 62,181 261 2024 N/A (c) 250 King of Prussia Road Radnor PA — — 20,566 65,333 112 74,699 85,899 10,336 N/A 2022 (c) 101 West Elm Street W. Conshohocken PA — 6,251 25,209 2,803 6,251 28,012 34,263 13,188 1999 2005 (c) 1 West Elm Street W. Conshohocken PA — 3,557 14,249 9,139 3,557 23,388 26,945 9,538 1999 2005 (c) Reconciliation of Real Estate: The following table reconciles the real estate investments from January 1, 2022 to December 31, 2024 (in thousands): 2024 2023 2022 Balance at beginning of year $ 3,542,232 $ 3,617,240 $ 3,472,602 Additions: Acquisitions — — Capital expenditures and assets placed into service 149,172 210,226 212,874 Less: Dispositions/impairments/placed into redevelopment (282,315) (251,190) (32,951) Retirements (34,309) (34,044) (35,285) Balance at end of year $ 3,374,780 $ 3,542,232 $ 3,617,240 Per consolidated balance sheet $ 3,374,780 $ 3,542,232 $ 3,617,240 The aggregate cost for federal income tax purposes is $2.9 billion as of December 31, 2024. (b) Reconciliation of Accumulated Depreciation: The following table reconciles the accumulated depreciation on real estate investments from January 1, 2022 to December 31, 2024 (in thousands): 2024 2023 2022 Balance at beginning of year $ 1,131,792 $ 1,063,060 $ 957,450 Additions: Depreciation expense 153,784 158,194 147,735 Less: Dispositions/impairments/placed into redevelopment (80,315) (55,969) (7,341) Retirements (33,458) (33,493) (34,784) Balance at end of year $ 1,171,803 $ 1,131,792 $ 1,063,060 Per consolidated balance sheet $ 1,171,803 $ 1,131,792 $ 1,063,060 (c) Depreciation of the buildings and improvements are calculated over lives ranging from the life of the lease to 55 years. (d) Land value represents unamortized prepaid ground lease. (e) 250 King of Prussia Road was fully placed into service in 2023. (f) Reflects original construction date. Significant improvements were made to 3000 Market Street in 1988 and to The Bulletin Building in 2012. (g)

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income (loss)	$ (195,907)	$ (196,789)	$ 53,824

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Our information management and communication systems and networks, and related platforms and applications, are integral to the operation of our business. We recognize the critical importance of developing, implementing, and maintaining robust cybersecurity measures to safeguard our information systems and protect the confidentiality, integrity, and availability of our data. Managing Material Risks & Integrated Overall Risk Management We have strategically integrated cybersecurity risk management into our broader risk management framework to facilitate a company-wide awareness of cybersecurity risk management. This integration ensures that cybersecurity considerations are an integral part of our decision-making processes at every level. Our management team works closely with our IT department to continuously evaluate and address cybersecurity risks in alignment with our business objectives and operational needs. Our information security processes are designed to manage material risks from cybersecurity threats to our information systems and maintain the confidentiality, integrity and availability of our data. We have also implemented a training program for employees that includes both proactive education modules, as well as reactive anti-phishing and testing modules designed to test the end-user’s ability to put what they learned into practice. Engage Third-parties on Risk Management We engage external experts, including cybersecurity assessors and consultants, in evaluating and testing our risk management systems. These partnerships enable us to leverage specialized knowledge and insights, ensuring our cybersecurity strategies and processes remain consistent with industry best practices. These third-parties have performed threat assessments, and consultation on security enhancements and evolving best practices. Oversee Third-party Risk To address risks associated with third-party service providers, we review and assess the cybersecurity controls of our third-party service providers and vendors, as appropriate, and make changes to our business processes to manage these risks. This approach is designed to mitigate risks related to data breaches or other security incidents originating from third-parties. Risks from Cybersecurity Threats We have not experienced a cybersecurity threat or cybersecurity incident in the past three years that has materially adversely affected our results of operations or financial condition. However, we face risks associated with breaches of our information technology systems, including through cyber-attacks and cyber intrusions, which could result in significant disruptions of our information technology systems (and those of third parties which we use), and unauthorized access to our information and information of our tenants and personnel. As we previously disclosed, on May 1, 2024, we detected unauthorized occurrences by a third party on portions of our information technology systems. Upon detecting the unauthorized occurrences, we promptly initiated our previously established response protocols and took steps to contain and remediate the incident. As part of our remediation activities, we strengthened our surveillance of cybersecurity threats and our information backup systems. A substantial portion of our direct costs incurred relating to containing, investigating and remediating the cybersecurity incident were reimbursed through insurance recoveries. As of the date of this Annual Report on Form 10-K, the cybersecurity incident has not had a material impact on our financial condition or results of operations, and we do not believe the cybersecurity incident is reasonably likely to materially impact our financial condition or results of operations. Refer to “Item 1A. Risk Factors” in this Form 10-K, including “We have experienced, and may again experience, data security breach that may cause damage to our business and reputation,” for additional discussion about cybersecurity-related risks.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	We have strategically integrated cybersecurity risk management into our broader risk management framework to facilitate a company-wide awareness of cybersecurity risk management. This integration ensures that cybersecurity considerations are an integral part of our decision-making processes at every level. Our management team works closely with our IT department to continuously evaluate and address cybersecurity risks in alignment with our business objectives and operational needs. Our information security processes are designed to manage material risks from cybersecurity threats to our information systems and maintain the confidentiality, integrity and availability of our data. We have also implemented a training program for employees that includes both proactive education modules, as well as reactive anti-phishing and testing modules designed to test the end-user’s ability to put what they learned into practice.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our Board of Trustees recognizes the critical need to manage cybersecurity risks. The Board has established oversight mechanisms to enhance effective governance in managing risks associated with cybersecurity threats. The Audit Committee, comprised of board members with diverse experiences and expertise, is central to the Board’s oversight of management’s governance and management of cybersecurity risks and strategies.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee, comprised of board members with diverse experiences and expertise, is central to the Board’s oversight of management’s governance and management of cybersecurity risks and strategies.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	At least once each quarter, the CTIO provides reports to the Audit Committee, which include reports on any documented incidents or violations of our IT and security policies and an update on cybersecurity practices and matters. Documented incidents or violations are discussed, and managers are notified for the appropriate follow-up with our human resources department or the employees involved in such incidents or violations, as needed. Our Audit Committee regularly reviews with senior management our information technology and security policies and controls to address new and novel threats to our systems.
Cybersecurity Risk Role of Management [Text Block]	Management’s Role Managing Risk All Cybersecurity threats are reported to the Chief Technology and Innovation Officer (the “CTIO”), who promptly informs the General Counsel, Chief Financial Officer and other senior management officers of any cybersecurity incident or material cybersecurity threat. In the event of a cybersecurity incident, management is equipped with a comprehensive cybersecurity incident and breach management policy that addresses investigation, remediation, notification, communication and reporting. The cybersecurity incident and breach management policy prescribes actions to respond to the immediate cybersecurity incident as well as strategies intended to prevent future incidents.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	All Cybersecurity threats are reported to the Chief Technology and Innovation Officer (the “CTIO”), who promptly informs the General Counsel, Chief Financial Officer and other senior management officers of any cybersecurity incident or material cybersecurity threat. In the event of a cybersecurity incident, management is equipped with a comprehensive cybersecurity incident and breach management policy that addresses investigation, remediation, notification, communication and reporting. The cybersecurity incident and breach management policy prescribes actions to respond to the immediate cybersecurity incident as well as strategies intended to prevent future incidents.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Primary responsibility for assessing, monitoring and managing our cybersecurity risks rests with the CTIO, Mr. Jim Kurek. With over 20 years of experience in technology across multiple verticals, his expertise includes all facets of information technology including cyber security, infrastructure and operations, digital transformation, and data analytics. Mr. Kurek brings a wealth of expertise to his role. His in-depth knowledge and experience are instrumental in developing and executing our cybersecurity strategies.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	At least once each quarter, the CTIO provides reports to the Audit Committee, which include reports on any documented incidents or violations of our IT and security policies and an update on cybersecurity practices and matters. Documented incidents or violations are discussed, and managers are notified for the appropriate follow-up with our human resources department or the employees involved in such incidents or violations, as needed. Our Audit Committee regularly reviews with senior management our information technology and security policies and controls to address new and novel threats to our systems.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The Company consolidates variable interest entities (“VIEs”) in which it is considered to be the primary beneficiary. VIEs are entities in which the equity investors do not have sufficient equity at risk to finance their endeavors without additional financial support or that the holders of the equity investment at risk do not have a controlling financial interest. The primary beneficiary is defined by the entity having both of the following characteristics: (i) the power to direct those matters that most significantly impact the activities of the VIE and (ii) the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the VIE. For entities that the Company has the obligations to fund losses, its maximum exposure to loss is not limited to the carrying amount of its investments. When an entity is not deemed to be a VIE, the Company consolidates entities for which it has significant decision making control over the entity’s operations. The Company’s judgment with respect to its level of influence or control of an entity involves consideration of various factors including the form of the Company’s ownership interest, its representation in the entity’s governance, the size of its investment (including loans), estimates of future cash flows, its ability to participate in policy making decisions and the rights of the other investors to participate in the decision making process and to replace the Company as manager and/or liquidate the venture, if applicable. The Company’s assessment of its influence or control over an entity affects the presentation of these investments in the Company’s consolidated financial statements. In addition to evaluating control rights, the Company consolidates entities in which the outside partner has no substantive kick-out rights to remove the Company as managing member. The portion of the consolidated entities that are not owned by the Company is presented as noncontrolling interest as of and during the periods consolidated. All intercompany transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. The estimates and assumptions include, but are not limited to, the amount and timing of development/redevelopment costs and of Company obligations for such costs, including costs incurred through unconsolidated real estate ventures. The estimates and assumptions for development/redevelopment cost are highly judgmental, cover significant future time horizons and are sensitive to cost escalations, sales price escalations and timing and pricing of leasing activity, all of which may be affected by expectations about future market or economic conditions. Actual results could differ from these and other estimates.
Operating Properties	Operating Properties Operating properties are carried at historical cost less accumulated depreciation and impairment losses. The value of operating properties reflects their purchase price or development cost. Acquisition costs related to business combinations are expensed as incurred, whereas the costs related to asset acquisitions are capitalized as incurred. Costs incurred for the renovation and betterment of an operating property are capitalized to the Company’s investment in that property. Ordinary repairs and maintenance are expensed as incurred.
Purchase Price Allocation	Purchase Price Allocation For acquisitions of real estate or in-substance real estate that are accounted for as business combinations, we recognize the assets acquired (including the intangible value of acquired above- or below-market leases, acquired in-place leases and tenant relationship values), liabilities assumed, noncontrolling interests, and previously existing ownership interests at fair value as of the acquisition date. Any excess (deficit) of the consideration transferred relative to the fair value of the net assets acquired is accounted for as goodwill (bargain purchase gain). Acquisition costs related to business combinations are expensed as incurred. Acquisitions of real estate and in-substance real estate that do not meet the definition of a business are accounted for as asset acquisitions. The Company generally expects that acquisitions of real estate or in-substance real estate will not meet the definition of business and therefore are accounted for as asset acquisitions, unless specifically noted otherwise. The accounting model for asset acquisitions is similar to the accounting model for business combinations except that the acquisition consideration (including acquisition costs) is allocated to the individual assets acquired and liabilities assumed on a relative fair value basis. As a result, asset acquisitions do not result in recognition of goodwill or a bargain purchase gain. Additionally, because the accounting model for asset acquisitions is a cost accumulation model, preexisting interests in the acquired assets, if any, are not remeasured to fair value but continue to be accounted for at their historical cost. Direct acquisition costs are capitalized if an asset acquisition is probable. If we determine that an asset acquisition is no longer probable, no new costs are capitalized and all capitalized costs that are not recoverable are written off. The purchase price is allocated to the acquired assets and assumed liabilities, including land and buildings, as if vacant based on highest and best use for the acquired assets. The Company assesses and considers fair value of the operating properties based on estimated cash flow projections that utilize discount and/or capitalization rates that it deems appropriate, as well as available market information. Estimates of future cash flows are based on a number of factors including the historical operating results, known and anticipated trends, and market and economic conditions. The Company allocates the purchase price of properties considered to be business combinations and asset acquisitions to net tangible and identified intangible assets acquired based on fair values. Above-market and below-market in-place lease values for acquired properties are recorded based on the present value (using an interest rate which reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) the Company’s estimate of the fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining noncancellable term of the lease (including the below market fixed renewal periods that are considered probable, if applicable). Capitalized above-market lease values are amortized as a reduction of rental income over the remaining noncancellable terms of the respective leases. Capitalized below-market lease values are amortized as an increase to rental income over the remaining noncancellable terms of the respective leases, including any below market fixed-rate renewal option periods that are considered probable. Other intangible assets also include in-place leases based on the Company’s evaluation of the specific characteristics of each tenant’s lease and the Company’s overall relationship with the respective tenant. The Company estimates the cost to execute leases with terms similar to the remaining lease terms of the in-place leases, including leasing commissions, legal and other related expenses. This intangible asset is amortized to expense over the remaining term of the respective leases and any fixed-rate bargain renewal periods. Factors considered by the Company in this analysis include an estimate of the carrying costs during the expected lease-up periods considering current market conditions and costs to execute similar leases. In estimating carrying costs, the Company includes real estate taxes, insurance, and other operating expenses, and estimates of lost rents at market rates during the expected lease-up periods, which primarily range from four In the event that a tenant terminates its lease, the unamortized portion of each intangible, including in-place lease values and tenant relationship values, is charged to expense and market rate adjustments (above or below) are recorded to revenue.
Depreciation and Amortization	Depreciation and Amortization The costs of buildings and improvements are depreciated using the straight-line method based on the following useful lives: buildings and improvements (5 to 55 years) and tenant improvements (the shorter of (i) the life of the asset (1 to 16 years) or (ii) the lease term).
Construction-in-Progress	Construction-in-Progress Project costs directly associated with the development or redevelopment and construction of a real estate project are capitalized as construction-in-progress. Construction-in-progress also includes costs related to ongoing tenant improvement projects. In addition, interest, real estate taxes, and other expenses that are directly associated with the Company’s
Ground Leases	Ground Leases The Company is the lessee under long-term ground leases classified as operating leases. The Company makes significant assumptions and judgments when determining the discount rate for the lease to calculate the present value of the lease payments. As the rate implicit in the lease is not readily determinable, the Company estimates the incremental borrowing rate (“IBR”) that it would need to pay to borrow, on a collateralized basis, an amount equal to the lease payments in a similar economic environment, over a similar lease term. The Company utilizes a market-based approach to estimate the IBR for each individual lease. The base IBR is estimated utilizing observable mortgage and corporate bond rates, which are then adjusted to account for considerations related to the Company’s credit rating and the lease term to select an incremental borrowing rate for each lease. The right of use assets and lease liabilities are presented as “Right of use asset - operating leases, net” and “Lease liability - operating leases”, respectively, on the consolidated balance sheet as of December 31, 2024 and 2023, respectively. The lease liabilities and right of use assets are amortized on a straight-line basis over the lease term with the corresponding expense classified in “Property operating expenses” on the consolidated statements of operations. The most recent CPI adjustment is used to determine the present value of the lease payments for an indexed lease and ultimately the right of use asset and corresponding lease liability. Rent payments for amounts in excess of this estimated growth rate will be expensed on a cash basis as incurred and are considered variable lease costs.
Impairment of Real Estate Investments	Impairment of Real Estate Investments The Company reviews its real estate investments for impairment following the end of each quarter for each of its real estate investments where events or changes in circumstances indicate that the carrying amounts may not be recoverable. The Company updates leasing and other assumptions regularly, paying particular attention to real estate investments where there is an event or change in circumstances that indicates an impairment in value. Additionally, the Company considers strategic decisions regarding the future development plans for real estate investment under development and other market factors. For real estate investments to be held and used, the Company analyzes recoverability based on the estimated undiscounted future cash flows expected to be generated from the operations and eventual disposition of the assets over, in most cases, a 10-year hold period. If there is significant possibility that the Company will dispose of assets earlier, it analyzes the recoverability using a probability weighted analysis of the undiscounted future cash flows expected to be generated from the operations and eventual disposition of each asset using various probable hold periods. If the recoverability analysis indicates that the carrying value of the tested real estate investment is not recoverable, the real estate investment is written down to its fair value and an impairment is recognized in the amount of the excess of the carrying amount of the asset over its fair value. If and when the Company’s plans change, it revises its recoverability analysis to use cash flows expected from operations and eventual disposition of each asset using hold periods that are consistent with its revised plans. Estimated future cash flows used in such analysis are based on the Company’s plans for the real estate investment and its views of market economic conditions. The estimates consider assumptions, including but not limited to market rental rates, capitalization rates, and recent sales data for comparable real estate investments. Future cash flows are discounted when determining fair value of an asset. Most of these assumptions are influenced by our direct experience with the real estate investments and their markets as well as market data obtained from real estate leasing and brokerage firms.
Impairment of Land Held for Development	Impairment of Land Held for Development When demand for build-to-suit properties declines and the ability to sell land held for development deteriorates, or other market factors indicate possible impairment in the recoverability of land held for development, the land held for development is reviewed for impairment by comparing its fair value to its carrying value. If the estimated sales value is less than the carrying value, the carrying value is written down to its estimated fair value. Estimated fair value is generally determined using a market valuation approach, comparing the subject property to recent comparable market transactions in a similar location; or using estimated cash flows.
Assets Held for Sale	Assets Held for Sale The Company generally reclassifies assets to held for sale when the transaction has been approved by its Board of Trustees, or by officers vested with authority to approve the transaction, and there are no known significant contingencies relating to the sale of the real estate investment within one year of the consideration date and the consummation of the transaction is otherwise considered probable. When a real estate investment is reclassified as held for sale, the Company stops depreciating the real estate investment and estimates the real estate investment’s fair value, net of selling costs. If the determination is made that the estimated fair value, net of selling costs, is less than the net carrying value of the real estate investment, an impairment is recognized, reducing the net carrying value of the real estate investment to estimated fair value less selling costs. For periods in which a real estate investment is classified as held for sale, the Company classifies the assets and liabilities, as applicable, of the real estate investment as held for sale on the consolidated balance sheet for such periods.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents are highly-liquid investments with original maturities of three months or less. The Company maintains cash equivalents in money market accounts with financial institutions in excess of insured limits, but believes this risk is mitigated by investing cash equivalents exclusively in or through major financial institutions. As such, available cash balances are appropriately reflected as cash and cash equivalents on the consolidated balance sheets.
Restricted Cash and Escrows	Restricted Cash and Escrows
Accounts Receivable And Accrued Rent Receivable	Accounts Receivable and Accrued Rent Receivable Generally, leases with tenants are accounted for as operating leases. Minimum lease payments under tenant leases are recognized on a straight-line basis over the term of the related lease. The cumulative difference between lease revenue recognized under the straight-line method and contractual lease payment terms are recorded as “Accrued rent receivable, net” on the consolidated balance sheets. Included in current tenant receivables are tenant reimbursements which are comprised of amounts recoverable from tenants for common area maintenance expenses and certain other recoverable expenses that are recognized as revenue in the period in which the related expenses are incurred.
Investments in Unconsolidated Real Estate Ventures	Investments in Unconsolidated Real Estate Ventures Under the equity method, investments in real estate ventures are recorded initially at cost and subsequently adjusted for equity in earnings, contributions, distributions, and impairments. The Company generally recognizes income and losses from the unconsolidated real estate ventures based on the venture's distribution priorities, which may be different from the Company's stated ownership percentage. For real estate ventures that are constructing assets to commence planned principal operations, the Company capitalizes interest expense to the extent that the capitalized interest is recoverable. In capitalizing interest expense, the Company uses its weighted average interest rate on its consolidated debt and its investment balance. Planned principal operations commence when the property is available to lease and at that point in time, the Company ceases capitalizing interest to its investment basis. At least quarterly, management assesses whether there are any other than temporary impairment indicators of the Company’s investments in unconsolidated real estate ventures. If any indicators of impairment are present, management calculates the fair value of the investment in the unconsolidated real estate venture. An investment is other than temporarily impaired only if the fair value of the investment, as estimated by management, is less than the carrying value and the decline is other than temporary. To the extent that an other than temporary impairment has occurred, an impairment charge is recorded in the amount of the excess of the carrying amount of the investment over the estimated fair value. Management is required to make significant judgments about the estimated fair value of the Company's investments to determine if an impairment exists. Fair value is generally determined through income valuation approaches, including discounted cash flows and direct capitalization models, sales comparison approach, or transactions with third parties. When the Company acquires an interest in or contributes assets to an unconsolidated real estate venture project, the difference between the Company’s cost basis in the investment and the value of the unconsolidated real estate venture or asset contributed is amortized over the life of the related assets, intangibles, and liabilities and such adjustment is included in the Company’s share of equity in income of unconsolidated real estate ventures.
Deferred Costs	Deferred Costs Certain costs incurred in connection with property leasing are capitalized as deferred leasing costs. Deferred leasing costs consist primarily of third-party and internal leasing commissions that are amortized using the straight-line method over the term of the applicable lease, which generally ranges from 1 to 16 years. Management re-evaluates the remaining useful lives of leasing costs in conjunction with changes in the applicable lease term.
Notes Receivable	Notes Receivable The Company accounts for notes receivable on its balance sheet at amortized cost, net of allowance for loan losses. Interest income is recognized over the term of the notes receivable and is calculated based on the contractual terms of each note agreement. At inception and on a quarterly basis, management evaluates notes receivable for the current estimate of expected credit losses over the contractual term using a probability-of-default method and reports in net income (as a credit loss expense) the amount necessary to adjust the allowance for credit losses to reflect management's current estimate. Management considers performance and/or value of the underlying collateral property as well as the financial and operating capability of the borrower/sponsor in its evaluation.
Deferred Financing Costs	Deferred Financing Costs Costs incurred in connection with debt financing are capitalized as a direct deduction from the carrying value of the debt, except for costs capitalized related to the Company’s unsecured credit facility, which are capitalized within the “Deferred costs, net” caption on the accompanying consolidated balance sheets. Deferred financing costs are charged to interest expense over the terms of the related debt agreements. Deferred financing costs consist primarily of loan fees which are amortized over the related loan term on a basis that approximates the effective interest method. Deferred financing costs are accelerated, when debt is extinguished, as part of the “Interest expense-amortization of deferred financing costs” caption within the Company’s consolidated statements of operations. Original issue discounts are recognized as part of the gain or loss on extinguishment of debt, as appropriate.
Revenue Recognition	Revenue Recognition Rental Revenue The Company generates revenue under leases with tenants occupying the Properties. Generally, leases with tenants are accounted for as operating leases. The operating leases have various expiration dates. As of December 31, 2024 and 2023, the Company did not have any leases classified as direct-financing or sales-type leases. Fixed lease payments under tenant leases, determined to be collectible, are recognized on a straight-line basis over the term of the related lease. The cumulative difference between lease revenue recognized under the straight-line method and contractual lease payments are recorded as “Accrued rent receivable” on the consolidated balance sheets. Variable lease payments are recognized as lease revenue in the period in which changes occur in facts and circumstances on which the variable lease payments are based. Topic 842 requires a binary approach to evaluating leases for collectability. Lessors are required to determine if it is probable that substantially all of the lease payments will be collected from the tenant over the lease term. Should the lessor determine that it is not probable that substantially all of the lease payments will be collected, the standard requires that the lessor write off any accrued rent receivable and begin recognizing lease payments on a cash basis. The Company’s lease revenue is impacted by the Company’s determination of whether improvements to the property, whether made by the Company or by the tenant, are landlord assets. The determination of whether an improvement is a landlord asset requires judgment. In making this judgment, the Company’s primary consideration is whether an improvement would be utilizable by another tenant upon the then-existing tenant vacating the improved space. If the Company has funded an improvement that it determines not to be landlord assets, then it treats the cost of the improvement as a lease incentive. If the tenant has funded an improvement that the Company determines to be landlord assets, then the Company treats the costs of the improvement as deferred revenue and amortizes these costs into revenue over the lease term. For certain leases, the Company also makes significant assumptions and judgments in determining the lease term, including assumptions when the lease provides the tenant with an early termination option or purchase option. The lease term impacts the period over which the Company determines and records lease payments and also impacts the period over which it amortizes lease-related costs. The Company considers all relevant factors that create an economic incentive for the lessee and uses judgment to determine if those factors, considered together, signify that the lessee is reasonably certain to exercise the option. For leases where a tenant executes a lease termination, termination fees are generally recognized over the modified term of the lease as rental income. Additionally, any deferred rents receivable are accelerated over the modified lease term. The Company’s leases also typically provide for tenant reimbursement of a portion of common area maintenance expenses and other operating expenses to the extent that a tenant’s pro rata share of expenses exceeds a base year level set in the lease or to the extent that the tenant has a lease on a triple net basis. As the timing and pattern of revenue recognition is the same, rents and tenant reimbursements are treated as a combined lease component and included in the “Rents” line item within the Company's consolidated statements of operations. Fixed lease payments include contractual rents under lease agreements with tenants recognized on a straight-line basis over the lease term, including amortization of lease incentives and above or below market rent intangibles, and parking income that is fixed under a long-term contract. Variable lease payments include reimbursements billed to tenants, termination fees, bad debt expense, and parking income that is not fixed under a long-term contract. Point of Sale Revenue Point of sale revenue consists of parking, restaurant, and flexible stay revenue from the Company’s hotel operations. Point of sale service obligations are performed daily, and the customer obtains control of those services simultaneously as they are performed. Accordingly, point of sale revenue is recorded on an accrual basis as it is earned, coinciding with the services that are provided to the Company’s customers. Parking and flexible stay revenue is recognized within rents and restaurant income is recognized within other income on the consolidated statements of operations. Third party management fees, labor reimbursement, and leasing The Company performs property management services for its managed real estate ventures and third-party property owners of real estate and these services consist of: (i) leasing services, (ii) property inspections, (iii) repairs and maintenance monitoring, and (iv) financial and accounting oversight. For these services, the Company earns management fees monthly, which are based on a fixed percentage of each managed property’s financial results, and is reimbursed for the labor costs incurred by its property management employees as services are rendered to the property owners. The Company determined that control over the services is passed to its customers simultaneously as the service are performed. Accordingly, the Company recognizes management fee revenue as earned as the services are performed. Lease commissions are earned when the Company, as a broker for a third party property owner, executes a lease agreement with a tenant. Based on the terms of the Company’s lease commission contracts with the owner, the Company's performance obligation to the owner has been completed upon execution of each lease agreement. The Company’s lease commissions are earned based on a fixed percentage of rental income generated for each executed lease agreement and there is no variable income component. Development fee revenue is earned through two different sources: (i) the Company performs development services for third parties as an agent and earns fixed development fees based on a percentage of construction costs incurred over the construction period, and (ii) the Company acts as a general contractor on behalf of one of its managed real estate ventures. The Company acts as the principal construction company for the real estate ventures and records gross revenue as it provides construction services based on the quantifiable construction outputs. In applying the cost based output method of revenue recognition, the Company uses the actual costs incurred relative to the total estimated costs to determine its progress towards contract completion and to calculate the corresponding gross revenue and gross profit to recognize. For any costs that do not contribute to satisfying the Company’s performance obligations, the Company excludes such costs from its output methods of revenue recognition as the amounts are not reflective of transferring control of the outputs to the customer. The use of estimates in this calculation involves significant judgment. Common Development Cost Estimates for Contributions to Development Joint Ventures When land is contributed to a development joint venture, estimated common development costs include actual costs incurred and estimates of future common development costs benefiting the property sold. When land is sold, common development costs, if they cannot be specifically identified, are allocated to each sold parcel based upon its relative sales value. For purposes of allocating common development costs, estimates of future sales proceeds and common development costs are re-evaluated throughout the year, with adjustments being allocated prospectively to the remaining land parcels available for sale. The common development cost estimates for development joint ventures are highly judgmental as they are sensitive to cost escalation, sales price escalation and pace of absorption, which are subject to judgment and are affected by expectations about future market or economic conditions. Changes in the assumptions used to estimate future common development costs could result in a significant impact on the amounts recorded as net gain on disposition of real estate or net gain on sale of undepreciated real estate.
Income Taxes	Income Taxes Parent Company The Parent Company has elected to be treated as a REIT under Sections 856 through 860 of the Internal Revenue Code. In order to continue to qualify as a REIT, the Parent Company is required to, among other things, distribute at least 90% of its annual REIT taxable income to its shareholders and meet certain tests regarding the nature of its income and assets. As a REIT, the Parent Company is not subject to federal and state (in states that follow federal rules) income taxes with respect to the portion of its income that meets certain criteria and is distributed annually to its shareholders. Accordingly, a nominal provision for federal and state (as applicable) income taxes is included in the accompanying consolidated financial statements with respect to the operations of the Parent Company. The Parent Company intends to continue to operate in a manner that allows it to meet the requirements for taxation as a REIT. If the Parent Company fails to qualify as a REIT in any taxable year, it will be subject to federal and state (as applicable) income taxes and may not be able to qualify as a REIT for the four tax years following the year in which it first failed to qualify. The Parent Company is subject to certain local income taxes. Provision for federal income taxes is recorded in the income tax provision line item and state and local income taxes have been included in operating expenses in the Parent Company’s consolidated statements of operations. The Parent Company is subject to a 4% federal excise tax if sufficient taxable income is not distributed within prescribed time limits. The excise tax equals 4% of the annual amount, if any, by which the sum of (a) 85% of the Parent Company’s ordinary income and (b) 95% of the Parent Company’s net capital gain exceeds cash distributions and certain taxes paid by the Parent Company. No excise tax was incurred in 2024, 2023 or 2022. The Parent Company has elected to treat several of its subsidiaries as taxable REIT subsidiaries (each a “TRS”). A TRS is subject to federal, state and local income tax. In general, a TRS may perform non-customary services for tenants, hold assets that the Parent Company, as a REIT, cannot hold directly and generally may engage in any real estate or non-real estate related business. The Company’s taxable REIT subsidiaries did not have material tax provisions or deferred income tax items as of December 31, 2024 and December 31, 2023. Operating Partnership In general, the Operating Partnership is not subject to federal and state income taxes, and accordingly, no provision for income taxes has been made in the accompanying consolidated financial statements. The partners of the Operating Partnership are required to include their respective share of the Operating Partnership’s profits or losses in their respective tax returns. The Operating Partnership’s tax returns and the amount of allocable partnership profits and losses are subject to examination by federal and state taxing authorities. For any year beginning on or after January 1, 2018, the Operating Partnership can be assessed with federal income tax in the course of an audit by the IRS. Under the partnership audit rules included in the Bipartisan Budget Act of 2015, the Operating Partnership has the option to make a push-out election and allocate the partnership adjustments to all the former partners for the tax year under audit. The Operating Partnership may elect to treat a subsidiary as a REIT under Sections 856 through 860 of the Internal Revenue Code, if applicable. Each subsidiary REIT would be required to meet the requirements for treatment as a REIT under Sections 856 through 860 of the Internal Revenue Code. If a subsidiary REIT fails to qualify as a REIT in any taxable year, that subsidiary REIT would be subject to federal and state income taxes and would not be able to qualify as a REIT for the four subsequent taxable years. Also, each subsidiary REIT would be subject to certain local income taxes. The Operating Partnership has elected to treat several of its subsidiaries as TRSs, which are subject to federal, state and local income tax.
Earnings Per Share and Per Unit	Earnings Per Share Basic earnings per share (“EPS”) is computed by dividing net income available to common shareholders, as adjusted for unallocated earnings, if any, of certain securities, by the weighted average number of common shares outstanding during the year. Diluted EPS reflects the potential dilution that could occur from common shares issuable in connection with awards under share-based compensation plans, including upon the exercise of stock options, and conversion of the noncontrolling interests in the Operating Partnership. Anti-dilutive shares are excluded from the calculation. Earnings Per Unit Basic earnings per unit is computed by dividing net income available to common unitholders, as adjusted for unallocated earnings, if any, of certain securities issued by the Operating Partnership, by the weighted average number of common unit equivalents outstanding during the year. Diluted earnings per unit reflects the potential dilution that could occur from units issuable in connection with awards under share-based compensation plans, including upon the exercise of stock options. Anti-dilutive units are excluded from the calculation.
Share-Based Compensation Plans	Share-Based Compensation Plans
Comprehensive Income	Comprehensive Income Comprehensive income is recorded in accordance with the provisions of the accounting standard for comprehensive income. The accounting standard establishes standards for reporting comprehensive income and its components in the financial statements. Comprehensive income includes the effective portions of changes in the fair value of derivatives.
Accounting for Derivative Instruments and Hedging Activities	Accounting for Derivative Instruments and Hedging Activities The Company accounts for its derivative instruments and hedging activities in accordance with the accounting standard for derivative and hedging activities. The accounting standard requires the Company to measure every derivative instrument (including certain derivative instruments embedded in other contracts) at fair value and record them on the balance sheet as either an asset or liability. See disclosures below related to the accounting standard for fair value measurements and disclosures. For derivatives designated as cash flow hedges, the effective portions of changes in the fair value of the derivative are reported in other comprehensive income while the ineffective portions are recognized in earnings. The Company actively manages its ratio of fixed-to-floating rate debt. To manage its fixed and floating rate debt in a cost-effective manner, the Company, from time to time, enters into interest rate swap agreements as cash flow hedges, under which it agrees to exchange various combinations of fixed and/or variable interest rates based on agreed upon notional amounts.
Fair Value Measurements	Fair Value Measurements The Company estimates the fair value of its derivatives in accordance with the accounting standard for fair value measurements and disclosures. The accounting standard defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. It also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value. Financial assets and liabilities recorded on the consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows: • Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access; • Level 2 inputs are inputs, other than quoted prices included in Level 1, which are observable for the asset or liability, either directly or indirectly. Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates, foreign exchange rates, and yield curves that are observable at commonly quoted intervals; and • Level 3 inputs are unobservable inputs for the asset or liability, which is typically based on an entity’s own assumptions, as there is little if any, related market activity or information. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. Non-financial assets and liabilities recorded at fair value on a non-recurring basis include non-financial assets and liabilities measured at fair value in a purchase price allocation and the impairment. The fair values assigned to the Company's purchase price allocations primarily utilize Level 3 inputs. The fair value assigned to the long-lived assets and equity method investments for which there was impairment recorded utilize Level 3 inputs
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280). The new standard requires enhanced disclosures about significant segment expenses and other segment items and requires companies to disclose all annual disclosures about segments in interim periods. The new standard also permits companies to disclose more than one measure of segment profit or loss, requires disclosure of the title and position of the Chief Operating Decision Maker, and requires companies with a single reportable segment to provide all disclosures required by Topic 280. The new standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted and companies are required to apply the ASU retrospectively to all periods presented. The Company's adoption of the standard did not have a material impact on the Company's consolidated financial statements.

ORGANIZATION OF THE PARENT CO_2

ORGANIZATION OF THE PARENT COMPANY AND THE OPERATING PARTNERSHIP (Tables)	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Core Portfolio of Operating Properties and Excludes Development, Redevelopment and Held for Sale	The Company’s core portfolio of operating properties (the “Core Properties”) exclude properties under development or redevelopment properties, recently completed - not stabilized properties and properties held for sale. The Properties were comprised of the following as of December 31, 2024: Number of Properties Rentable Square Feet Office properties 59 11,006,099 Mixed-use properties 4 924,450 Core Properties 63 11,930,549 Recently completed - not stabilized property (a) 1 168,294 The Properties 64 12,098,843 (a) The Company reclassifies a Property from “development/redevelopment property” to “recently completed – not-stabilized property” after the date that the development or redevelopment of the Property is placed in service and prior to the time that the Property reaches at least 90% occupancy. At such time as the Property reaches at least 90% occupancy, the Company reclassifies the Property as a “Core Property.”

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Schedule of Disaggregation of Revenue	The following is a summary of revenue earned by the Company’s reportable segments (see Note 18 “Segment Information,” for further information) during the year ended December 31, 2024 (in thousands): Philadelphia CBD Pennsylvania Suburbs Austin, Texas Other Corporate (a) Total Fixed rent $ 158,382 $ 114,056 $ 56,620 $ 36,412 $ (1,631) $ 363,839 Variable rent 54,264 10,460 28,424 1,442 (142) 94,448 Total lease revenue 212,646 124,516 85,044 37,854 (1,773) 458,287 Amortization of deferred market rents 647 — 272 — — 919 Daily parking & hotel flexible stay 8,727 — 956 352 1 10,036 Total rents 222,020 124,516 86,272 38,206 (1,772) 469,242 Third party management fees, labor reimbursement and leasing 158 21 603 3,769 19,191 23,742 Other income 3,808 474 333 163 7,755 12,533 Total revenue $ 225,986 $ 125,011 $ 87,208 $ 42,138 $ 25,174 $ 505,517 (a) Corporate includes intercompany eliminations necessary to reconcile to consolidated Company totals. The following is a summary of revenue earned by the Company’s reportable segments (see Note 18 “Segment Information,” for further information) during the year ended December 31, 2023 (in thousands): Philadelphia CBD Pennsylvania Suburbs Austin, Texas Other Corporate (a) Total Fixed rent $ 159,732 $ 118,856 $ 63,209 $ 32,167 $ (1,895) $ 372,069 Variable rent 54,678 10,067 30,098 1,681 454 96,978 Total lease revenue 214,410 128,923 93,307 33,848 (1,441) 469,047 Amortization of deferred market rents 649 — 642 — — 1,291 Daily parking & hotel flexible stay 8,478 — 708 325 — 9,511 Total rents 223,537 128,923 94,657 34,173 (1,441) 479,849 Third party management fees, labor reimbursement and leasing 405 38 516 4,972 18,486 24,417 Other income 6,991 339 332 161 2,562 10,385 Total revenue $ 230,933 $ 129,300 $ 95,505 $ 39,306 $ 19,607 $ 514,651 (a) Corporate includes intercompany eliminations necessary to reconcile to consolidated Company totals. The following is a summary of revenue earned by the Company’s reportable segments (see Note 18 “Segment Information,” for further information) during the year ended December 31, 2022 (in thousands): Philadelphia CBD Pennsylvania Suburbs Austin, Texas Other Corporate (a) Total Fixed rent $ 151,034 $ 116,926 $ 60,831 $ 26,491 $ (1,895) $ 353,387 Variable rent 51,346 11,615 32,958 3,927 (35) 99,811 Total lease revenue 202,380 128,541 93,789 30,418 (1,930) 453,198 Amortization of deferred market rents 1,308 10 1,264 — — 2,582 Daily parking & hotel flexible stay 14,390 — 361 320 — 15,071 Total rents 218,078 128,551 95,414 30,738 (1,930) 470,851 Third party management fees, labor reimbursement and leasing 287 35 486 5,711 17,613 24,132 Other income 2,510 354 429 161 7,663 11,117 Total revenue $ 220,875 $ 128,940 $ 96,329 $ 36,610 $ 23,346 $ 506,100 (a) Corporate includes intercompany eliminations necessary to reconcile to consolidated Company totals.

REAL ESTATE INVESTMENTS (Tables

REAL ESTATE INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2024
Real Estate [Abstract]
Schedule of Gross Carrying Value of Operating Properties	As of December 31, 2024 and 2023, the gross carrying value of the operating properties was as follows (in thousands): December 31, 2024 December 31, 2023 Land $ 361,861 $ 394,669 Building and improvements 2,551,089 2,671,024 Tenant improvements 461,830 476,539 Total $ 3,374,780 $ 3,542,232
Schedule of Capitalized Construction Costs	The following table shows the amount of compensation costs (including bonuses and benefits) capitalized for the years presented (in thousands): December 31, 2024 2023 2022 Development $ 4,447 $ 4,096 $ 5,343 Redevelopment 738 944 1,484 Tenant Improvements 5,811 3,817 2,505 Total $ 10,996 $ 8,857 $ 9,332
Schedule of Acquired Properties	Property/Portfolio Name Acquisition Date Location Property Type Rentable Square Feet/Acres Purchase Price 165 King of Prussia Road October 27, 2023 Radnor, PA Land 1.1 acres $ 8,550 Property/Portfolio Name Acquisition Date Location Property Type Rentable Square Feet/Acres Purchase Price 631 Park Avenue January 21, 2022 King of Prussia, PA Land 3.3 acres $ 3,650 3151 Market Street (a) April 29, 2022 Philadelphia, PA Leasehold Interest 0.8 acres $ 27,349 (a) On April 29, 2022, the Company acquired, through a 99-year ground lease, the leasehold interest in a 0.8-acre land parcel, located at 3151 Market Street, in Philadelphia, Pennsylvania. The Company prepaid $19.5 million of the ground lease, representing 500,000 square feet of buildable floor to area ratio (“FAR”) to be used for the development of 3151 Market Street, and paid $7.8 million for 200,000 square feet of FAR density usable pursuant to the Schuylkill Yards Project master development agreement. The additional density is included in prepaid leasehold interests in land held for development in the consolidated balance sheets. See below regarding disposition of 500,000 square feet of FAR.
Schedule of Office Properties Sold	The following table summarizes the property dispositions during the years ended December 31, 2024, 2023 and 2022 (dollars in thousands): Property/Portfolio Name Disposition Date Location Property Type Rentable Square Feet/Acres Sales Price Gain/(Loss) on Sale (a) Plymouth Meeting Executive Center (b)(c) September 26, 2024 Plymouth Meeting, PA Five Office Buildings 521,288 $ 65,500 $ — 55 US Avenue (c)(d) September 30, 2024 Gibbsboro, NJ Land 11.0 acres $ 6,466 $ — One and Two Barton Skyway (c) November 18, 2024 Austin, TX Two Office Buildings 390,963 $ 107,900 $ — Dabney Land Westwood December 20, 2024 Richmond, VA Parking Lot 11.0 acres $ 8,500 $ 2,297 Dabney East December 27, 2023 Richmond, VA Land 11.6 acres $ 1,600 $ 430 Byberry December 7, 2023 Philadelphia, PA Land Purchase Option 50.0 acres $ 9,641 $ 3,960 8521 Leesburg Pike (i) December 1, 2023 Vienna, VA Office 150,897 $ 11,000 $ — 200 N. Radnor Chester Road October 31, 2023 Radnor, PA Retail 17,884 $ 14,200 $ 7,735 Three Barton Skyway (i) August 4, 2023 Austin, TX Office 173,302 $ 53,250 $ — 200 Barr Harbor Drive November 22, 2022 West Conshohocken, PA Office 86,000 $ 30,500 $ 8,740 11501 Burnett Road (g) July 29, 2022 Austin, TX Land 4.7 acres $ 32,513 $ 8,340 3151 Market Street (f) July 14, 2022 Philadelphia, PA Leasehold Interest 0.8 acres $ 30,394 $ 2,583 Gibbsboro Portfolio (e) June 28, 2022 Gibbsboro, NJ Office/Land 42,809/4.0 acres $ 4,100 $ 831 25 M Street (h) April 14, 2022 Washington, D.C. Land 0.8 acres $ 29,675 $ 3,836 Gateway G & H January 20, 2022 Richmond, VA Land 10.0 acres $ 1,600 $ 897 (a) Gain/(Loss) on Sale is net of closing and other transaction related costs. (b) The Company provided the purchaser with $15.5 million in seller financing which is subordinate to a first mortgage. The seller financing is subject to mandatory redemption by no later than the tenth anniversary of the closing date of the sale and is classified within “Other Assets” on the consolidated balance sheet. (c) Recognized a provision for impairment of $21.1 million on the properties prior to the sales. The Company estimated the fair value of its impaired properties and the related impairment losses based upon purchase and sale agreements. (d) The Company provided the purchaser with $4.4 million in seller financing, which is classified within “Other Asset” on the consolidated balance sheet. (e) Includes $0.7 million of gain on sale of undepreciated real estate and $0.1 million of gain on disposition of real estate included within the consolidated statements of operations for the twelve months ended December 31, 2022. (f) On July 14, 2022, the Company contributed 500,000 square feet of FAR relating to its 99-year prepaid leasehold interest at 3151 Market Street in Philadelphia, Pennsylvania, acquired on April 29, 2022, to a newly formed joint venture with an unaffiliated third party. The Company's initial deemed contribution in the project was $30.4 million and the transaction resulted in deconsolidation of the property and conversion of Brandywine 3151 Market, LP (formerly a wholly-owned subsidiary of the Operating Partnership) to a real estate venture (“3151 Market Street Venture”). The Company recorded its investment at fair value and recognized a gain, net of transaction costs, of $2.6 million, in “Net gain on sale of undepreciated real estate” on the consolidated statements of operations. See Note 4, “Investment in Unconsolidated Real Estate Ventures,” for further information. (g) On July 29, 2022, the Company contributed a 4.7 acre parcel of land held for development at 11501 Burnet Road in Austin, Texas to a newly formed joint venture with an unaffiliated third party. The project is part of the Uptown ATX master development. The Company's combined contributed initial land investment in the project was $32.5 million and the transaction resulted in the deconsolidation of the property and formation of Brandywine Uptown Office LLC and Brandywine One Uptown Multifamily LLC (together, “One Uptown Ventures)”). The Company recorded its investment at fair value and recognized a gain of $8.3 million in “Net gain on disposition of real estate” on the consolidated statements of operations. Gain on sale of $8.3 million is calculated as the difference between the estimated relative sales value of the contributed land and the estimated total cost allocations per block. See Note 4, “Investment in Unconsolidated Real Estate Ventures,” for further information. (h) On September 30, 2022, the Company recognized $0.4 million of additional gain on disposition of real estate. (i) Recognized a provision for impairment of $16.7 million on the properties prior to the sales.

INVESTMENT IN UNCONSOLIDATED _2

INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES (Tables)	12 Months Ended
	Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Financial Position of Real Estate Ventures	The Company’s investment in the unconsolidated real estate ventures as of December 31, 2024 and 2023, and the Company’s share of the unconsolidated real estate ventures’ income (loss) for the years ended December 31, 2024, 2023, and 2022 was as follows (in thousands): Ownership Percentage Carrying Amount Company's unconsolidated real estate venture Income (Loss) Unconsolidated Real Estate Venture Debt at 100%, gross 2024 2023 2024 2023 2022 2024 2023 Office Properties Commerce Square Venture 84% (a) $ 179,061 $ 272,216 $ (134,545) $ (18,791) $ (12,128) $ 220,000 $ 220,000 Mid-Atlantic Office Venture 40% (a) 10,844 — 7,141 (26,448) 412 62,023 132,770 Herndon Innovation Center Metro Portfolio Venture, LLC (f) 15% — 3,518 — (11,854) (536) — 233,443 MAP Venture (b) 5% — (48,733) (6,541) (10,580) (8,340) — 179,842 Cira Square 20% 42,969 25,242 (1,648) (2,474) (985) 160,000 257,700 KB JV (e) 50% 42 — 986 — — — — Other 4040 Wilson Venture (c) (d) 50% — 29,419 (10,618) (2,536) (1,211) — 145,000 1919 Venture (g) 50% — — — — 1,392 — — One Uptown - Multifamily (c) 50% 29,818 32,124 (3,800) — — 72,197 40,270 Development Properties 3025 JFK Venture (c) 64% 61,379 62,034 (19,271) (4,456) (35) 173,754 152,032 JBG - 51 N Street (c) 70% 8,209 21,150 (13,397) (435) (382) — — JBG - 1250 First Street Office (c) 70% 8,531 17,843 (9,586) (269) (195) — — 3151 Market Street Venture (c) 76% 168,925 90,645 (105) (72) (8) — — One Uptown - Office (c) 62% 60,677 47,036 (201) — — 69,047 51,701 $ 570,455 $ 552,494 $ (191,585) $ (77,915) $ (22,016) $ 757,021 $ 1,412,758 (a) Ownership percentage represents the Company’s combined interest including preferred and common equity holdings. See “Commerce Square Venture” and “Mid-Atlantic Office JV” sections below for more information. (b) Included within “Other Liabilities” on the consolidated balance sheet. (c) This entity is a VIE. (d) On December 20, 2024, the Company sold its interest in the 4040 Wilson Venture. See “4040 Wilson Venture” section for more information on the disposal. (e) On December 20, 2024 KB JV sold its entire 14 industrial/flex building portfolio out of the KB JV. See "KB JV" section for more information on the disposal. (f) As of December 31, 2024, the Company has no further investments in Herndon Innovation Center. See “Herndon Innovation Center Metro Portfolio Venture, LLC” section for more information on the divestiture. (g) On November 30, 2022, the Company sold its interest in 1919 Venture. See “1919 Venture” sections for more information on the disposal. The following is a summary of the financial position of the unconsolidated real estate ventures in which the Company held interests as of December 31, 2024 and December 31, 2023 (in thousands): December 31, 2024 (b) December 31, 2023 Net property $ 1,641,085 $ 2,339,921 Other assets 238,406 534,658 Other liabilities 107,801 443,536 Debt, net 752,325 1,407,858 Equity (a) 1,019,365 1,023,185 (a) This amount does not include the effect of the basis difference between the Company's historical cost basis and the basis recorded at the real estate venture level, which is typically amortized over the life of the related assets and liabilities. Basis differentials occur from the impairment of investments, purchases of third party interests in existing real estate ventures and upon the transfer of assets that were previously owned by the Company into a real estate venture. In addition, certain acquisition, transaction and other costs may not be reflected in the net assets at the real estate venture level. (b) Excludes amounts related to the Herndon Innovation Center Metro Portfolio Venture, LLC and the New MAP Venture as the Company discontinued applying the equity method of accounting. The Company discontinued applying the equity method of accounting on the Herndon Innovation Center Metro Portfolio Venture, LLC after March 31, 2024 and discontinued applying the equity method of accounting on the New MAP Venture after June 30, 2024.
Schedule of Results of Operations of Real Estate Ventures with Interests	The following is a summary of results of operations of the unconsolidated real estate ventures in which the Company held interests during the twelve-month periods ended December 31, 2024, 2023 and 2022 (in thousands): Year Ended December 31, 2024 (b) 2023 2022 Revenue $ 157,361 $ 232,895 $ 244,981 Operating expenses (79,093) (122,181) (124,608) Interest expense, net (58,785) (78,909) (49,007) Depreciation and amortization (70,536) (100,205) (103,378) Provision for impairment (148,347) — — Net loss $ (199,400) $ (68,400) $ (32,012) Ownership interest % Various Various Various Company's share of net loss $ (183,141) $ (39,637) $ (21,594) Other-than-temporary impairment (a) (8,378) (37,176) — Basis adjustments and other (66) (1,102) (422) Equity in loss of unconsolidated real estate ventures $ (191,585) $ (77,915) $ (22,016) (a) Represents other-than-temporary impairment on investment in unconsolidated joint venture due to a decline in fair value below the carrying value of our investments in the unconsolidated joint venture for the years ended December 31, 2024 and 2023. (b) Excludes amounts related to the Herndon Innovation Center Metro Portfolio Venture, LLC and the New MAP Venture as the Company discontinued applying the equity method of accounting. The Company discontinued applying the equity method of accounting on the Herndon Innovation Center Metro Portfolio Venture, LLC after March 31, 2024 and the New MAP Venture after June 30, 2024.
Schedule of Maturities of Long-term Debt	As of December 31, 2024, the aggregate principal payments of the unconsolidated real estate ventures recourse and non-recourse debt payable to third-parties are as follows (in thousands): 2025 $ — 2026 173,754 2027 141,244 2028 220,000 2029 222,023 Thereafter — Total principal payments 757,021 Net deferred financing costs (4,696) Outstanding indebtedness $ 752,325 As of December 31, 2024, the aggregate scheduled principal payments on the Company's debt obligations were as follows (in thousands): 2025 $ 70,000 2026 32,734 2027 700,000 2028 595,000 2029 750,000 Thereafter 78,610 Total principal payments 2,226,344 Net unamortized premiums/(discounts) (544) Net deferred financing costs (12,986) Outstanding indebtedness $ 2,212,814

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Schedule of Operating Lease Future Contractual Lease Payments	The Company leases properties to tenants under operating leases with various expiration dates. Future contractual lease payments under operating leases at December 31, 2024 are as follows (in thousands): Year 2025 $ 337,848 2026 337,910 2027 315,282 2028 282,838 2029 228,722 Thereafter 837,634
Schedule of Lease Costs	The table below summarizes the Company’s operating lease cost (in thousands) recognized through “Property operating expenses” on the consolidated statements of operations (in thousands): Year Ended December 31, Lease Cost 2024 2023 Fixed lease cost $ 2,100 $ 2,100 Variable lease cost 42 57 Total $ 2,142 $ 2,157 Weighted-average remaining lease term (years) 53.3 54.0 Weighted-average discount rate 6.3 % 6.3 %
Schedule of Operating Lease Liability Maturities	Lease payments on noncancellable leases at December 31, 2024 are as follows (in thousands): Year Minimum Rent 2025 $ 1,321 2026 1,338 2027 1,355 2028 1,373 2029 1,418 Thereafter 103,646 Total lease payments $ 110,451 Less: Imputed interest 86,905 Present value of operating lease liabilities $ 23,546

DEFERRED COSTS (Tables)

DEFERRED COSTS (Tables)	12 Months Ended
	Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Deferred Costs	As of December 31, 2024 and 2023, the Company’s deferred costs were comprised of the following (in thousands): December 31, 2024 Total Cost Accumulated Amortization Deferred Costs, net Leasing costs $ 153,557 $ (70,998) $ 82,559 Financing costs - Unsecured Credit Facility 4,688 (2,930) 1,758 Total $ 158,245 $ (73,928) $ 84,317 December 31, 2023 Total Cost Accumulated Amortization Deferred Costs, net Leasing costs $ 164,274 $ (71,220) $ 93,054 Financing costs - Unsecured Credit Facility 4,688 (1,758) 2,930 Total $ 168,962 $ (72,978) $ 95,984

INTANGIBLE ASSETS AND LIABILI_2

INTANGIBLE ASSETS AND LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Liabilities	As of December 31, 2024 and 2023, the Company’s intangible assets/liabilities were comprised of the following (in thousands): December 31, 2024 Total Cost Accumulated Amortization Intangible Assets, net Intangible assets, net: In-place lease value $ 15,794 $ (10,363) $ 5,431 Tenant relationship value 110 (57) 53 Above market leases acquired 75 (54) 21 Total intangible assets, net $ 15,979 $ (10,474) $ 5,505 Total Cost Accumulated Amortization Intangible Liabilities, net Intangible liabilities, net: Below market leases acquired $ 16,413 $ (9,121) $ 7,292 December 31, 2023 Total Cost Accumulated Amortization Intangible Assets, net Intangible assets, net: In-place lease value $ 24,281 $ (16,673) $ 7,608 Tenant relationship value 110 (52) 58 Above market leases acquired 75 (47) 28 Total intangible assets, net $ 24,466 $ (16,772) $ 7,694 Total Cost Accumulated Amortization Intangible Liabilities, net Intangible liabilities, net: Below market leases acquired $ 17,588 $ (9,318) $ 8,270
Schedule of Amortization for Intangible Assets and Liabilities	As of December 31, 2024, the Company’s annual amortization for its intangible assets/liabilities, assuming no prospective early lease terminations, was as follows (dollars in thousands): Assets Liabilities 2025 $ 1,692 $ 842 2026 813 722 2027 570 618 2028 253 533 2029 253 533 Thereafter 1,924 4,044 Total $ 5,505 $ 7,292

DEBT OBLIGATIONS (Tables)

DEBT OBLIGATIONS (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Consolidated Debt Obligations	The following table sets forth information regarding the Company’s consolidated debt obligations outstanding as of December 31, 2024 and 2023 (in thousands): December 31, 2024 December 31, 2023 Effective Maturity SECURED DEBT $245.0M 5.88% Secured Term Loan due 2028 $ 245,000 $ 245,000 5.88% February 2028 $50.0M Construction Loan due 2026 32,734 13,824 SOFR + 2.50% August 2026 Principal balance outstanding 277,734 258,824 Less: deferred financing costs (2,396) (3,153) Total Secured indebtedness $ 275,338 $ 255,671 UNSECURED DEBT $600 million Unsecured Credit Facility $ — $ — SOFR + 1.50% June 2027 (a) Term Loan - Swapped to fixed 250,000 250,000 SOFR + 1.70% (b) June 2027 (a) $70.0 million Term Loan $ 70,000 $ 70,000 SOFR + 2.00% February 2025 (a) $350.0M 4.10% Guaranteed Notes due 2024 $ — $ 340,000 3.78% October 2024 $450.0M 3.95% Guaranteed Notes due 2027 450,000 450,000 4.03% November 2027 $350.0M 8.30% Guaranteed Notes due 2028 $ 350,000 $ 350,000 8.48% (c) March 2028 $350.0M 4.55% Guaranteed Notes due 2029 350,000 350,000 4.30% October 2029 $350.0M 8.88% Guaranteed Notes due 2029 $ 400,000 $ — 8.97% April 2029 Indenture IA (Preferred Trust I) 27,062 27,062 SOFR + 1.51% (d) March 2035 Indenture IB (Preferred Trust I) $ 25,774 $ 25,774 SOFR + 1.51% (d) April 2035 Indenture II (Preferred Trust II) 25,774 25,774 SOFR + 1.51% (d) July 2035 Principal balance outstanding 1,948,610 1,888,610 Plus: original issue premium (discount), net (544) 1,878 Less: deferred financing costs (10,590) (7,327) Total unsecured indebtedness $ 1,937,476 $ 1,883,161 (a) Spread includes a 10 basis point daily SOFR adjustment. (b) On November 23, 2022, the unsecured term loan of $250.0 million was swapped to a fixed rate. At December 31, 2024, the fixed rate for this instrument was 5.41% and matures on June 30, 2027. The effective date of the swap was January 31, 2023. (c) During the third quarter of 2023, Moody’s downgraded our senior unsecured credit rating from Baa3 to Ba1. As a result of the downgrade, the interest rate on our 7.55% Guaranteed Notes due 2028 (the "2028 Notes") increased 25 basis points in September 2023 due to the coupon adjustment provisions within the 2028 Notes. During the first quarter of 2024, S&P downgraded our senior unsecured credit rating from BBB- to BB+. As a result of the downgrade, the interest rate on the 2028 Notes increased 25 basis points to 8.05% in March 2024 due to the coupon adjustment provisions within the 2028 Notes. During the second quarter of 2024, Moody's downgraded our senior unsecured credit rating from Ba1 to Ba2. As a result of the downgrade, the interest rate on the 2028 Notes increased 25 basis points to 8.30% in April 2024 due to the coupon adjustment provisions within the 2028 Notes. (d) On January 16, 2024, the Trust Preferred I - Indenture IA was swapped to a fixed rate at 5.14% for the period from March 30, 2024 to December 30, 2026 and Trust Preferred I - Indenture IB and Trust Preferred II - Indenture II were swapped to a fixed rate at 5.24% for the period from January 30, 2024 to January 30, 2027.
Schedule of Maturities of Long-term Debt	As of December 31, 2024, the aggregate principal payments of the unconsolidated real estate ventures recourse and non-recourse debt payable to third-parties are as follows (in thousands): 2025 $ — 2026 173,754 2027 141,244 2028 220,000 2029 222,023 Thereafter — Total principal payments 757,021 Net deferred financing costs (4,696) Outstanding indebtedness $ 752,325 As of December 31, 2024, the aggregate scheduled principal payments on the Company's debt obligations were as follows (in thousands): 2025 $ 70,000 2026 32,734 2027 700,000 2028 595,000 2029 750,000 Thereafter 78,610 Total principal payments 2,226,344 Net unamortized premiums/(discounts) (544) Net deferred financing costs (12,986) Outstanding indebtedness $ 2,212,814

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Financial Instruments with Fair Values Different from their Carrying Amount	The following are financial instruments for which the Company’s estimates of fair value differ from the carrying amounts (in thousands): December 31, 2024 December 31, 2023 Carrying Amount (a) Fair Value Carrying Amount (a) Fair Value Unsecured notes payable $ 1,539,917 $ 1,537,210 $ 1,486,052 $ 1,386,621 Variable rate debt $ 430,293 $ 403,880 $ 410,932 $ 370,665 Fixed rate debt $ 242,605 $ 232,804 $ 241,847 $ 233,088 (a) Net of deferred financing costs of $9.5 million and $5.8 million for unsecured notes payable, $1.1 million and $1.5 million for variable rate debt and $2.4 million and $3.2 million for secured fix rate debt as of December 31, 2024 and December 31, 2023, respectively

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following table summarizes the terms and fair values of the Company’s derivative financial instruments as of December 31, 2024 and December 31, 2023. The notional amounts provide an indication of the extent of the Company’s involvement in these instruments at that time but do not represent exposure to credit, interest rate or market risks (amounts presented in thousands). Hedge Product Hedge Type Designation Notional Amount Strike Trade Date Maturity Date Fair value 12/31/2024 12/31/2023 12/31/2024 12/31/2023 Assets Swap Interest Rate Cash Flow (a) $ 250,000 $ — 3.713 % November 23, 2022 June 30, 2027 $ 1,666 $ — Swap Interest Rate Cash Flow (a) 27,062 — 3.629 % January 12, 2024 December 30, 2026 206 — Swap Interest Rate Cash Flow (a) 51,548 — 3.725 % January 12, 2024 January 30, 2027 313 — Liabilities Swap Interest Rate Cash Flow (a) $ — $ 250,000 3.713 % November 23, 2022 June 30, 2027 $ — $ (757) $ 328,610 $ 250,000 (a) Hedging unsecured variable rate debt.

BENEFICIARIES' EQUITY OF THE _2

BENEFICIARIES' EQUITY OF THE PARENT COMPANY (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table details the number of shares and net income used to calculate basic and diluted earnings per share (in thousands, except share and per share amounts; results may not add due to rounding): Year Ended December 31, 2024 2023 2022 Basic Diluted Basic Diluted Basic Diluted Numerator Net income (loss) $ (196,487) $ (196,487) $ (197,403) $ (197,403) $ 53,992 $ 53,992 Net (income) loss attributable to noncontrolling interests 580 580 614 614 (168) (168) Nonforfeitable dividends allocated to unvested restricted shareholders (1,178) (1,178) (567) (567) (456) (456) Net income (loss) attributable to common shareholders $ (197,085) $ (197,085) $ (197,356) $ (197,356) $ 53,368 $ 53,368 Denominator Weighted-average shares outstanding 172,526,996 172,526,996 171,959,210 171,959,210 171,491,369 171,491,369 Contingent securities/Share-based compensation — — — — — 834,277 Weighted-average shares outstanding 172,526,996 172,526,996 171,959,210 171,959,210 171,491,369 172,325,646 Earnings (loss) per Common Share: Net income (loss) attributable to common shareholders $ (1.14) $ (1.14) $ (1.15) $ (1.15) $ 0.31 $ 0.31 The following table details the number of units and net income used to calculate basic and diluted earnings per common partnership unit (in thousands, except unit and per unit amounts; results may not add due to rounding): Year Ended December 31, 2024 2023 2022 Basic Diluted Basic Diluted Basic Diluted Numerator Net income (loss) $ (196,487) $ (196,487) $ (197,403) $ (197,403) $ 53,992 $ 53,992 Net (income) loss attributable to noncontrolling interests (5) (5) 22 22 2 2 Nonforfeitable dividends allocated to unvested restricted unitholders (1,178) (1,178) (567) (567) (456) (456) Net income (loss) attributable to common unitholders $ (197,670) $ (197,670) $ (197,948) $ (197,948) $ 53,538 $ 53,538 Denominator Weighted-average units outstanding 173,042,591 173,042,591 172,475,645 172,475,645 172,036,481 172,036,481 Contingent securities/Share-based compensation — — — — — 834,277 Total weighted-average units outstanding 173,042,591 173,042,591 172,475,645 172,475,645 172,036,481 172,870,758 Earnings (loss) per Common Partnership Unit: Net income (loss) attributable to common unitholders $ (1.14) $ (1.14) $ (1.15) $ (1.15) $ 0.31 $ 0.31

PARTNERS' EQUITY OF THE PAREN_2

PARTNERS' EQUITY OF THE PARENT COMPANY (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table details the number of shares and net income used to calculate basic and diluted earnings per share (in thousands, except share and per share amounts; results may not add due to rounding): Year Ended December 31, 2024 2023 2022 Basic Diluted Basic Diluted Basic Diluted Numerator Net income (loss) $ (196,487) $ (196,487) $ (197,403) $ (197,403) $ 53,992 $ 53,992 Net (income) loss attributable to noncontrolling interests 580 580 614 614 (168) (168) Nonforfeitable dividends allocated to unvested restricted shareholders (1,178) (1,178) (567) (567) (456) (456) Net income (loss) attributable to common shareholders $ (197,085) $ (197,085) $ (197,356) $ (197,356) $ 53,368 $ 53,368 Denominator Weighted-average shares outstanding 172,526,996 172,526,996 171,959,210 171,959,210 171,491,369 171,491,369 Contingent securities/Share-based compensation — — — — — 834,277 Weighted-average shares outstanding 172,526,996 172,526,996 171,959,210 171,959,210 171,491,369 172,325,646 Earnings (loss) per Common Share: Net income (loss) attributable to common shareholders $ (1.14) $ (1.14) $ (1.15) $ (1.15) $ 0.31 $ 0.31 The following table details the number of units and net income used to calculate basic and diluted earnings per common partnership unit (in thousands, except unit and per unit amounts; results may not add due to rounding): Year Ended December 31, 2024 2023 2022 Basic Diluted Basic Diluted Basic Diluted Numerator Net income (loss) $ (196,487) $ (196,487) $ (197,403) $ (197,403) $ 53,992 $ 53,992 Net (income) loss attributable to noncontrolling interests (5) (5) 22 22 2 2 Nonforfeitable dividends allocated to unvested restricted unitholders (1,178) (1,178) (567) (567) (456) (456) Net income (loss) attributable to common unitholders $ (197,670) $ (197,670) $ (197,948) $ (197,948) $ 53,538 $ 53,538 Denominator Weighted-average units outstanding 173,042,591 173,042,591 172,475,645 172,475,645 172,036,481 172,036,481 Contingent securities/Share-based compensation — — — — — 834,277 Total weighted-average units outstanding 173,042,591 173,042,591 172,475,645 172,475,645 172,036,481 172,870,758 Earnings (loss) per Common Partnership Unit: Net income (loss) attributable to common unitholders $ (1.14) $ (1.14) $ (1.15) $ (1.15) $ 0.31 $ 0.31

SHARE-BASED COMPENSATION, 401_2

SHARE-BASED COMPENSATION, 401(K) PLAN AND DEFERRED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Company's Restricted Share Activity	The following table summarizes the Company’s Restricted Share Units activity during the year-ended December 31, 2024: Shares Weighted Average Grant Date Fair Value Non-vested at January 1, 2024 889,166 $ 8.79 Granted 1,519,393 $ 4.15 Vested (542,196) $ 8.33 Forfeited (82,855) $ 5.41 Non-vested at December 31, 2024 1,783,508 $ 5.13
Schedule of Restricted Performance Share Units Plan	The table below presents certain information as to unvested RPSU awards. RPSU Grant Date 3/3/2022 2/16/2023 2/26/2024 Total (Amounts below in shares, unless otherwise noted) Non-vested at January 1, 2024 513,038 1,057,173 — 1,570,211 Granted — — 417,268 417,268 Units Vested (9,877) (19,484) — (29,361) Units Cancelled (17,919) (37,802) (41,300) (97,021) Non-vested at December 31, 2024 485,242 999,887 375,968 1,861,097 Measurement Period Commencement Date 1/1/2022 1/1/2023 1/1/2024 Measurement Period End Date 12/31/2024 12/31/2025 12/31/2026 Awarded 516,852 1,057,173 1,251,803 Fair Value of Units on Grant Date (in thousands) $ 6,872 $ 7,125 $ 5,145

DISTRIBUTIONS (Tables)

DISTRIBUTIONS (Tables)	12 Months Ended
	Dec. 31, 2024
Distributions [Abstract]
Schedule of Dividends Payable	The following table provides the tax characteristics of the 2024, 2023 and 2022 distributions paid: Years ended December 31, 2024 2023 2022 (in thousands, except per share amounts) Common Share Distributions: Ordinary income $ 0.23 $ 0.39 $ 0.47 Capital gain 0.03 0.03 0.29 Non-taxable distributions 0.34 0.30 — Distributions per share $ 0.60 $ 0.72 $ 0.76 Percentage classified as ordinary income 38.60 % 54.40 % 62.10 % Percentage classified as capital gain 4.90 % 4.00 % 37.90 % Percentage classified as non-taxable distribution 56.50 % 41.60 % — %

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table details the components of accumulated other comprehensive income (loss) of the Parent Company and the Operating Partnership as of and for the three years ended December 31, 2024 (in thousands): Parent Company Cash Flow Hedges Balance at January 1, 2022 $ (2,020) Change in fair market value during year 5,371 Allocation of unrealized (gains)/losses on derivative financial instruments to noncontrolling interests (18) Amortization of interest rate contracts reclassified from comprehensive income to interest expense 564 Balance at December 31, 2022 $ 3,897 Change in fair market value during year (4,579) Allocation of unrealized (gains)/losses on derivative financial instruments to noncontrolling interests 14 Amortization of interest rate contracts reclassified from comprehensive income to interest expense — Balance at December 31, 2023 $ (668) Change in fair market value during year 3,200 Allocation of unrealized (gains)/losses on derivative financial instruments to noncontrolling interests (11) Amortization of interest rate contracts reclassified from comprehensive income to interest expense — Balance at December 31, 2024 $ 2,521 Operating Partnership Cash Flow Hedges Balance at January 1, 2022 $ (2,366) Change in fair market value during year 5,371 Amortization of interest rate contracts reclassified from comprehensive income to interest expense 564 Balance at December 31, 2022 $ 3,569 Change in fair market value during year (4,579) Amortization of interest rate contracts reclassified from comprehensive income to interest expense — Balance at December 31, 2023 $ (1,010) Change in fair market value during year 3,200 Amortization of interest rate contracts reclassified from comprehensive income to interest expense — Balance at December 31, 2024 $ 2,190

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Real Estate Investments, Net Operating Income and Unconsolidated Real Estate Ventures of Reportable Segments	The following tables provide selected asset information and results of operations of the Company’s reportable segments (in thousands): Real estate investments, at cost: December 31, 2024 December 31, 2023 Philadelphia CBD $ 1,556,696 $ 1,534,893 Pennsylvania Suburbs 869,179 900,230 Austin, Texas 671,150 801,973 Total Core Segments 3,097,025 3,237,096 Other 277,755 305,136 Operating Properties $ 3,374,780 $ 3,542,232 Corporate Right of use asset - operating leases, net $ 18,412 $ 19,031 Construction-in-progress $ 94,628 $ 135,529 Land held for development $ 81,318 $ 82,510 Prepaid leasehold interests in land held for development, net $ 27,762 $ 27,762 . Net operating income: Year Ended December 31, 2024 2023 2022 Total revenue Operating expenses (a) Net operating income Total revenue Operating expenses (a) Net operating income Total revenue Operating expenses (a) Net operating income Philadelphia CBD $ 225,986 $ (81,061) $ 144,925 $ 230,933 $ (79,579) $ 151,354 $ 220,875 $ (79,827) $ 141,048 Pennsylvania Suburbs 125,011 (38,822) 86,189 129,300 (39,584) 89,716 128,940 (41,814) 87,126 Austin, Texas 87,208 (34,033) 53,175 95,505 (38,453) 57,052 96,329 (41,141) 55,188 Other 42,139 (20,698) 21,441 39,306 (21,134) 18,172 36,610 (21,165) 15,445 Corporate 25,173 (12,716) 12,457 19,607 (11,197) 8,410 23,346 (10,454) 12,892 Operating properties $ 505,517 $ (187,330) $ 318,187 $ 514,651 $ (189,947) $ 324,704 $ 506,100 $ (194,401) $ 311,699 (a) Includes property operating expense, real estate taxes and third party management expense. Unconsolidated real estate ventures: Investment in real estate ventures, at equity Equity in income (loss) of real estate venture As of Year ended December 31, December 31, 2024 December 31, 2023 2024 2023 2022 Philadelphia CBD $ 452,334 $ 450,136 $ (155,567) $ (25,793) $ (11,764) Mid-Atlantic Office JV 10,844 — 7,141 (26,448) 412 MAP Venture — (48,733) (6,542) (10,581) (8,340) Austin, Texas 90,495 79,160 (4,001) — — Other $ 16,782 $ 71,931 $ (32,616) $ (15,093) $ (2,324) Total $ 570,455 $ 552,494 $ (191,585) $ (77,915) $ (22,016)
Schedule of Reconciliation of Consolidated Net Income to Consolidated NOI	The following is a reconciliation of consolidated net income (loss), as defined by GAAP, to consolidated NOI, (in thousands): Year Ended December 31, 2024 2023 2022 Net income (loss) $ (196,487) $ (197,403) $ 53,992 Plus: Interest expense 116,306 95,456 68,764 Interest expense - amortization of deferred financing costs 5,000 4,369 3,091 Depreciation and amortization 178,168 188,797 177,984 General and administrative expenses 42,781 34,862 35,006 Equity in loss of unconsolidated real estate ventures 191,585 77,915 22,016 Provision for impairment 44,655 131,573 4,663 Gain (loss) on early extinguishment of debt (941) (138) 435 Less: Interest and investment income 3,847 1,671 1,905 Income tax provision (14) (72) (55) Net gain on disposition of real estate 2,297 7,736 17,677 Net gain on sale of undepreciated real estate — 1,211 8,007 Net gain on real estate venture transactions 56,750 181 26,718 Consolidated net operating income $ 318,187 $ 324,704 $ 311,699

ORGANIZATION OF THE PARENT CO_3

ORGANIZATION OF THE PARENT COMPANY AND THE OPERATING PARTNERSHIP - Narrative (Details)	12 Months Ended
	Dec. 31, 2024 a ft² property parcel management_company
Organization of The Parent Company and The Operating Partnership [Line Items]
Number of real estate properties | property	64
Rentable square feet	12,098,843
Number of management companies | management_company	10
Leashold Interest Land
Organization of The Parent Company and The Operating Partnership [Line Items]
Lease agreement term (in years)	99 years
Unconsolidated Properties | Unconsolidated Real Estate Ventures
Organization of The Parent Company and The Operating Partnership [Line Items]
Number of real estate properties | property	10
Parent Company
Organization of The Parent Company and The Operating Partnership [Line Items]
Rentable square feet	11,900,000
Areas of land held for development (in acres) | a	130.6
Lease agreement term (in years)	99 years
Area of additional undeveloped parcels of land with option to purchase | a	5.1
Parent Company | Parcel of land
Organization of The Parent Company and The Operating Partnership [Line Items]
Lease agreement term (in years)	99 years
Parent Company | Leashold Interest Land
Organization of The Parent Company and The Operating Partnership [Line Items]
Areas of land held for development (in acres) | a	0.8
Number of parcels of land | parcel	1
Wholly-owned Management Company Subsidiaries
Organization of The Parent Company and The Operating Partnership [Line Items]
Rentable square feet	19,400,000
Wholly-owned Management Company Subsidiaries | Wholly Owned Properties
Organization of The Parent Company and The Operating Partnership [Line Items]
Rentable square feet	12,100,000
Wholly-owned Management Company Subsidiaries | Partially Owned Properties
Organization of The Parent Company and The Operating Partnership [Line Items]
Rentable square feet	7,300,000
Brandywine Operating Partnership LP
Organization of The Parent Company and The Operating Partnership [Line Items]
Ownership in the operating partnership	99.70%
BRSCO | BRANDYWINE OPERATING PARTNERSHIP, L.P. | Brandywine Operating Partnership LP
Organization of The Parent Company and The Operating Partnership [Line Items]
Ownership in the operating partnership	100%
BMI | BRANDYWINE OPERATING PARTNERSHIP, L.P. | Brandywine Operating Partnership LP
Organization of The Parent Company and The Operating Partnership [Line Items]
Ownership in the operating partnership	100%
BPI | BRANDYWINE OPERATING PARTNERSHIP, L.P. | Brandywine Operating Partnership LP
Organization of The Parent Company and The Operating Partnership [Line Items]
Ownership in the operating partnership	100%
BBL | BRANDYWINE OPERATING PARTNERSHIP, L.P. | Brandywine Operating Partnership LP
Organization of The Parent Company and The Operating Partnership [Line Items]
Ownership in the operating partnership	100%
BPM | BRANDYWINE OPERATING PARTNERSHIP, L.P. | Brandywine Operating Partnership LP
Organization of The Parent Company and The Operating Partnership [Line Items]
Ownership in the operating partnership	100%
BBS | BRANDYWINE OPERATING PARTNERSHIP, L.P. | Brandywine Operating Partnership LP
Organization of The Parent Company and The Operating Partnership [Line Items]
Ownership in the operating partnership	100%
BGCS | BRANDYWINE OPERATING PARTNERSHIP, L.P. | Brandywine Operating Partnership LP
Organization of The Parent Company and The Operating Partnership [Line Items]
Ownership in the operating partnership	100%

ORGANIZATION OF THE PARENT CO_4

ORGANIZATION OF THE PARENT COMPANY AND THE OPERATING PARTNERSHIP - Summary of Core Portfolio of Operating Properties and Excludes Development, Redevelopment and Held for Sale (Details)	Dec. 31, 2024 ft² property
Real Estate Properties [Line Items]
Number of Properties | property	64
Rentable Square Feet | ft²	12,098,843
Occupancy percentage	90%
Core Properties
Real Estate Properties [Line Items]
Number of Properties | property	63
Rentable Square Feet | ft²	11,930,549
Office properties
Real Estate Properties [Line Items]
Number of Properties | property	59
Rentable Square Feet | ft²	11,006,099
Mixed-use properties
Real Estate Properties [Line Items]
Number of Properties | property	4
Rentable Square Feet | ft²	924,450
Recently completed - not stabilized properties
Real Estate Properties [Line Items]
Number of Properties | property	1
Rentable Square Feet | ft²	168,294

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Principles of Consolidation (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Assets	$ 3,492,213	$ 3,732,447
Liabilities	2,447,626	2,408,290
Variable Interest Entity
Variable Interest Entity [Line Items]
Assets	37,200	34,400
Liabilities	$ 20,300	$ 21,500

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Purchase Price Allocation and Depreciation and Amortization (Details)	12 Months Ended
	Dec. 31, 2024
Minimum
Construction in Progress [Line Items]
Expected lease-up periods	4 months
Minimum | Buildings and Improvements
Construction in Progress [Line Items]
Buildings and improvements useful life	5 years
Minimum | Tenant Improvements
Construction in Progress [Line Items]
Buildings and improvements useful life	1 year
Maximum
Construction in Progress [Line Items]
Expected lease-up periods	12 months
Maximum | Buildings and Improvements
Construction in Progress [Line Items]
Buildings and improvements useful life	55 years
Maximum | Tenant Improvements
Construction in Progress [Line Items]
Buildings and improvements useful life	16 years

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Impairment of Real Estate Assets (Details)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Disposition of assets, holding period	10 years

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Deferred Costs (Details)	Dec. 31, 2024
Minimum
Lessor, Lease, Description [Line Items]
Deferred cost, amortization period	1 year
Maximum
Lessor, Lease, Description [Line Items]
Deferred cost, amortization period	16 years

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 505,517	$ 514,651	$ 506,100
Corporate
Disaggregation of Revenue [Line Items]
Total revenue	25,174	19,607	23,346
Rents
Disaggregation of Revenue [Line Items]
Total revenue	469,242	479,849	470,851
Rents | Corporate
Disaggregation of Revenue [Line Items]
Total revenue	(1,772)	(1,441)	(1,930)
Total lease revenue
Disaggregation of Revenue [Line Items]
Total revenue	458,287	469,047	453,198
Total lease revenue | Corporate
Disaggregation of Revenue [Line Items]
Total revenue	(1,773)	(1,441)	(1,930)
Fixed rent
Disaggregation of Revenue [Line Items]
Total revenue	363,839	372,069	353,387
Fixed rent | Corporate
Disaggregation of Revenue [Line Items]
Total revenue	(1,631)	(1,895)	(1,895)
Variable rent
Disaggregation of Revenue [Line Items]
Total revenue	94,448	96,978	99,811
Variable rent | Corporate
Disaggregation of Revenue [Line Items]
Total revenue	(142)	454	(35)
Amortization of deferred market rents
Disaggregation of Revenue [Line Items]
Total revenue	919	1,291	2,582
Amortization of deferred market rents | Corporate
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Daily parking & hotel flexible stay
Disaggregation of Revenue [Line Items]
Total revenue	10,036	9,511	15,071
Daily parking & hotel flexible stay | Corporate
Disaggregation of Revenue [Line Items]
Total revenue	1	0	0
Third party management fees, labor reimbursement and leasing
Disaggregation of Revenue [Line Items]
Total revenue	23,742	24,417	24,132
Third party management fees, labor reimbursement and leasing | Corporate
Disaggregation of Revenue [Line Items]
Total revenue	19,191	18,486	17,613
Other income
Disaggregation of Revenue [Line Items]
Total revenue	12,533	10,385	11,117
Other income | Corporate
Disaggregation of Revenue [Line Items]
Total revenue	7,755	2,562	7,663
Philadelphia CBD | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	225,986	230,933	220,875
Philadelphia CBD | Rents | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	222,020	223,537	218,078
Philadelphia CBD | Total lease revenue | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	212,646	214,410	202,380
Philadelphia CBD | Fixed rent | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	158,382	159,732	151,034
Philadelphia CBD | Variable rent | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	54,264	54,678	51,346
Philadelphia CBD | Amortization of deferred market rents | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	647	649	1,308
Philadelphia CBD | Daily parking & hotel flexible stay | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	8,727	8,478	14,390
Philadelphia CBD | Third party management fees, labor reimbursement and leasing | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	158	405	287
Philadelphia CBD | Other income | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	3,808	6,991	2,510
Pennsylvania Suburbs | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	125,011	129,300	128,940
Pennsylvania Suburbs | Rents | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	124,516	128,923	128,551
Pennsylvania Suburbs | Total lease revenue | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	124,516	128,923	128,541
Pennsylvania Suburbs | Fixed rent | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	114,056	118,856	116,926
Pennsylvania Suburbs | Variable rent | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	10,460	10,067	11,615
Pennsylvania Suburbs | Amortization of deferred market rents | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	0	0	10
Pennsylvania Suburbs | Daily parking & hotel flexible stay | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Pennsylvania Suburbs | Third party management fees, labor reimbursement and leasing | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	21	38	35
Pennsylvania Suburbs | Other income | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	474	339	354
Austin, Texas | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	87,208	95,505	96,329
Austin, Texas | Rents | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	86,272	94,657	95,414
Austin, Texas | Total lease revenue | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	85,044	93,307	93,789
Austin, Texas | Fixed rent | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	56,620	63,209	60,831
Austin, Texas | Variable rent | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	28,424	30,098	32,958
Austin, Texas | Amortization of deferred market rents | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	272	642	1,264
Austin, Texas | Daily parking & hotel flexible stay | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	956	708	361
Austin, Texas | Third party management fees, labor reimbursement and leasing | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	603	516	486
Austin, Texas | Other income | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	333	332	429
Other | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	42,138	39,306	36,610
Other | Rents | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	38,206	34,173	30,738
Other | Total lease revenue | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	37,854	33,848	30,418
Other | Fixed rent | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	36,412	32,167	26,491
Other | Variable rent | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	1,442	1,681	3,927
Other | Amortization of deferred market rents | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Other | Daily parking & hotel flexible stay | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	352	325	320
Other | Third party management fees, labor reimbursement and leasing | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	3,769	4,972	5,711
Other | Other income | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	$ 163	$ 161	$ 161

SUMMARY OF SIGNIFICANT ACCOUN_9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Income Taxes (Details) - USD ($) $ in Billions	Dec. 31, 2024	Dec. 31, 2023
Income Tax Contingency [Line Items]
Tax basis of assets, cost for income tax purposes	$ 2.9	$ 3
BRANDYWINE OPERATING PARTNERSHIP, L.P.
Income Tax Contingency [Line Items]
Tax basis of assets, cost for income tax purposes	$ 2.9	$ 3

REAL ESTATE INVESTMENTS - Sched

REAL ESTATE INVESTMENTS - Schedule of Gross Carrying Value of Operating Properties (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Real Estate [Abstract]
Land	$ 361,861	$ 394,669
Building and improvements	2,551,089	2,671,024
Tenant improvements	461,830	476,539
Total	$ 3,374,780	$ 3,542,232

REAL ESTATE INVESTMENTS - Narra

REAL ESTATE INVESTMENTS - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Real Estate [Abstract]
Internal direct construction costs capitalized related to development of properties and land holdings	$ 10,996	$ 8,857	$ 9,332
Capitalized interest	$ 3,200	$ 5,200	$ 4,700

REAL ESTATE INVESTMENTS - Sch_2

REAL ESTATE INVESTMENTS - Schedule of Capitalized Construction Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Internal direct construction costs	$ 10,996	$ 8,857	$ 9,332
Development
Property, Plant and Equipment [Line Items]
Internal direct construction costs	4,447	4,096	5,343
Redevelopment
Property, Plant and Equipment [Line Items]
Internal direct construction costs	738	944	1,484
Tenant Improvements
Property, Plant and Equipment [Line Items]
Internal direct construction costs	$ 5,811	$ 3,817	$ 2,505

REAL ESTATE INVESTMENTS - Sch_3

REAL ESTATE INVESTMENTS - Schedule of Acquired Properties (Details) $ in Thousands				12 Months Ended
	Oct. 27, 2023 USD ($) a	Apr. 29, 2022 USD ($)	Jan. 21, 2022 USD ($) a	Dec. 31, 2024 USD ($) ft²	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Apr. 29, 2022 ft²	Apr. 29, 2022 a
Business Acquisition [Line Items]
Purchase Price				$ 0	$ 7,747	$ 3,446
Area of real estate property | ft²				12,098,843
Land | 165 King of Prussia Road
Business Acquisition [Line Items]
Land area | a	1.1
Purchase Price	$ 8,550
Land | 631 Park Avenue
Business Acquisition [Line Items]
Land area | a			3.3
Purchase Price			$ 3,650
Land | 3151 Market Street
Business Acquisition [Line Items]
Land area							0.8	0.8
Purchase Price		$ 27,349
Lease agreement term (in years)		99 years
Prepaid rent		$ 19,500
Area of real estate property | ft²							500,000
Land | Schuylkill Yards Project
Business Acquisition [Line Items]
Area of real estate property | ft²							200,000
Operating lease costs, capitalized		$ 7,800

REAL ESTATE INVESTMENTS - Sch_4

REAL ESTATE INVESTMENTS - Schedule of Office Properties Sold (Details) $ in Thousands

12 Months Ended

Dec. 20, 2024 USD ($) a

Nov. 18, 2024 USD ($) ft²

Sep. 30, 2024 USD ($) a

Sep. 26, 2024 USD ($) ft²

Dec. 27, 2023 USD ($) a

Dec. 07, 2023 USD ($) a

Dec. 01, 2023 USD ($) ft²

Oct. 31, 2023 USD ($) ft²

Aug. 04, 2023 USD ($) ft²

Nov. 22, 2022 USD ($) ft²

Sep. 30, 2022 USD ($)

Jul. 29, 2022 USD ($) a

Jul. 14, 2022 USD ($) a ft²

Jun. 28, 2022 USD ($)

Apr. 14, 2022 USD ($) a

Jan. 20, 2022 USD ($) a

Dec. 31, 2024 USD ($) ft²

Dec. 31, 2023 USD ($)

Dec. 31, 2022 USD ($)

Jan. 30, 2023 ft²

Jun. 28, 2022 ft²

Jun. 28, 2022 a

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Gain/(Loss) on Sale

$ 2,297

$ 7,736

$ 17,677

Provision for impairment

$ 44,655

$ 131,573

4,663

Area of real estate property | ft²

12,098,843

Recognized a provision for impairment

$ 16,700

Plymouth Meeting Executive Center | Discontinued Operations, Disposed of by Sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Seller financing amount

$ 15,500

55 US Avenue | Discontinued Operations, Disposed of by Sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Seller financing amount

4,400

55 US Avenue and One and Two Barton Skyway | Discontinued Operations, Disposed of by Sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Provision for impairment

$ 21,100

Land | 55 US Avenue

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Land area | a

11

Sales Price

$ 6,466

Gain/(Loss) on Sale

$ 0

Land | Dabney East

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Land area | a

11.6

Sales Price

$ 1,600

Gain/(Loss) on Sale

$ 430

Land | Byberry

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Land area | a

50

Sales Price

$ 9,641

Gain/(Loss) on Sale

$ 3,960

Land | 11501 Burnett Road

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Land area | a

4.7

Sales Price

$ 32,513

Gain/(Loss) on Sale

$ 8,340

Land | 25 M Street

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Land area | a

0.8

Sales Price

$ 29,675

Gain/(Loss) on Sale

$ 400

$ 3,836

Land | Gateway G & H

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Land area | a

10

Sales Price

$ 1,600

Gain/(Loss) on Sale

$ 897

Land | Gibbsboro Portfolio

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Gain/(Loss) on Sale

700

Land | 3151 Market Street

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Area of real estate property | ft²

500,000

Land | 11501 Burnet Road

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Land area | a

4.7

Sales Price

$ 32,500

Gain/(Loss) on Sale

$ 8,300

Office Properties | Plymouth Meeting Executive Center

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Rentable Square Feet/Acres | ft²

521,288

Sales Price

$ 65,500

Gain/(Loss) on Sale

$ 0

Office Properties | One and Two Barton Skyway

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Rentable Square Feet/Acres | ft²

390,963

Sales Price

$ 107,900

Gain/(Loss) on Sale

$ 0

Office Properties | 8521 Leesburg Pike

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Rentable Square Feet/Acres | ft²

150,897

Sales Price

$ 11,000

Gain/(Loss) on Sale

$ 0

Office Properties | Three Barton Skyway

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Rentable Square Feet/Acres | ft²

173,302

Sales Price

$ 53,250

Gain/(Loss) on Sale

$ 0

Office Properties | 200 Barr Harbor Drive

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Rentable Square Feet/Acres | ft²

86,000

Sales Price

$ 30,500

Gain/(Loss) on Sale

$ 8,740

Office Properties | Gibbsboro Portfolio

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Gain/(Loss) on Sale

$ 100

Retail | 200 N. Radnor Chester Road

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Rentable Square Feet/Acres | ft²

17,884

Sales Price

$ 14,200

Gain/(Loss) on Sale

$ 7,735

Leasehold Interest | 3151 Market Street

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Land area | a

0.8

Sales Price

$ 30,394

Gain/(Loss) on Sale

2,583

Leasehold Interest | 3151 Market Street

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Rentable Square Feet/Acres | ft²

200,000

Sales Price

30,400

Gain/(Loss) on Sale

$ 2,600

Lease agreement term (in years)

99 years

Office/Land | Gibbsboro Portfolio

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Land area

42,809

4

Sales Price

$ 4,100

Gain/(Loss) on Sale

$ 831

Parking Lot | Dabney Land Westwood

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Land area | a

11

Sales Price

$ 8,500

Gain/(Loss) on Sale

$ 2,297

REAL ESTATE INVESTMENTS - 3151

REAL ESTATE INVESTMENTS - 3151 Market Venture (Narrative) (Details) $ in Thousands		3 Months Ended	12 Months Ended
	Jul. 14, 2022 USD ($) ft²	Mar. 31, 2023 USD ($)	Dec. 31, 2024 USD ($) ft²	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jan. 30, 2023 ft²
Schedule of Investments [Line Items]
Area of real estate property | ft²			12,098,843
Net gain on disposition of real estate			$ 2,297	$ 7,736	$ 17,677
Land | 3151 Market Street
Schedule of Investments [Line Items]
Area of real estate property | ft²	500,000
Leasehold Interest | 3151 Market Street
Schedule of Investments [Line Items]
Lease agreement term (in years)	99 years
Sales price	$ 30,400
Net gain on disposition of real estate	$ 2,600
Operating lease costs, capitalized		$ 7,800
Rentable area (in square feet) | ft²						200,000
Net gain from remeasurement of investment in real estate ventures		$ 800

REAL ESTATE INVESTMENTS - Held

REAL ESTATE INVESTMENTS - Held for Use Impairment and Sale (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) property	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties | property	64
Impairment long lived asset held for use statement of income or comprehensive income extensible enumeration not disclosed flag		impairment losses
Assets held for sale	$ 0	$ 0
Other
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of properties held for use	$ 23.5	$ 103.2	$ 4.7
Number of real estate properties | property	1	3
Other | Discount Rates | Valuation Technique, Discounted Cash Flow
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Debt securities, trading, measurement input		0.1000
Other | Measurement Input, Capitalization Rate | Valuation Technique, Discounted Cash Flow
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Debt securities, trading, measurement input		0.0850
Pennsylvania Suburbs Segment | Office Properties
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Provision for impairment on assets held for sale		$ 11.7

INVESTMENT IN UNCONSOLIDATED _3

INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES - Narrative (Details) $ in Thousands, ft² in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) a ft² property	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Schedule of Equity Method Investments [Line Items]
Number of real estate properties | property	64
Investment balance	$ 570,455	$ 552,494
Accounts receivable	12,703	11,977
Real Estate Venture
Schedule of Equity Method Investments [Line Items]
Accounts receivable	5,000	3,500
Management Fees | Real Estate Venture
Schedule of Equity Method Investments [Line Items]
Service and other revenue	7,700	8,100	$ 8,200
Lease Commission Income | Real Estate Venture
Schedule of Equity Method Investments [Line Items]
Service and other revenue	2,300	$ 3,800	$ 2,500
Unconsolidated Real Estate Ventures
Schedule of Equity Method Investments [Line Items]
Investment balance	$ 570,500
Unconsolidated Real Estate Ventures | Minimum
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	20%
Unconsolidated Real Estate Ventures | Maximum
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	84%
Unconsolidated Real Estate Ventures | Office Properties
Schedule of Equity Method Investments [Line Items]
Number of unconsolidated investments in real estate ventures | property	4
Rentable area (in square feet) | ft²	3.9
Unconsolidated Real Estate Ventures | Unconsolidated Properties
Schedule of Equity Method Investments [Line Items]
Number of real estate properties | property	10
Unconsolidated Real Estate Ventures | Land Held For Development
Schedule of Equity Method Investments [Line Items]
Number of unconsolidated investments in real estate ventures | property	2
Land area | a	1.4
Unconsolidated Real Estate Ventures | Land Under Active Development
Schedule of Equity Method Investments [Line Items]
Number of unconsolidated investments in real estate ventures | property	4
Land area | a	7.5

INVESTMENT IN UNCONSOLIDATED _4

INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES - Schedule of Investment in Real Estate Ventures and Share of Real Estate Ventures' Income (Loss) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 20, 2024 portfolio	Nov. 30, 2024	Sep. 30, 2024	Jun. 28, 2024	Mar. 31, 2024	Dec. 21, 2020
Schedule of Equity Method Investments [Line Items]
Investments in equity securities	$ 570,455	$ 552,494
Company's unconsolidated real estate venture Income (Loss)	(191,585)	(77,915)	$ (22,016)
Unconsolidated Real Estate Venture Debt at 100%, gross	$ 757,021	1,412,758
Commerce Square Venture
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	84%				84%
Investments in equity securities	$ 179,061	272,216
Company's unconsolidated real estate venture Income (Loss)	(134,545)	(18,791)	(12,128)
Unconsolidated Real Estate Venture Debt at 100%, gross	$ 220,000	220,000
Mid-Atlantic Office JV
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	40%								40%
Investments in equity securities	$ 10,844	0
Company's unconsolidated real estate venture Income (Loss)	7,141	(26,448)	412
Unconsolidated Real Estate Venture Debt at 100%, gross	$ 62,023	132,770
Herndon Innovation Center Metro Portfolio Venture, LLC
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	15%
Investments in equity securities	$ 0	3,518
Company's unconsolidated real estate venture Income (Loss)	0	(11,854)	(536)
Unconsolidated Real Estate Venture Debt at 100%, gross	$ 0	233,443
MAP Venture
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	5%							50%
Investments in equity securities	$ 0	(48,733)
Company's unconsolidated real estate venture Income (Loss)	(6,541)	(10,580)	(8,340)
Unconsolidated Real Estate Venture Debt at 100%, gross	$ 0	179,842
Cira Square
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	20%
Investments in equity securities	$ 42,969	25,242
Company's unconsolidated real estate venture Income (Loss)	(1,648)	(2,474)	(985)
Unconsolidated Real Estate Venture Debt at 100%, gross	$ 160,000	257,700
KB JV
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	50%						50%
Investments in equity securities	$ 42	0
Company's unconsolidated real estate venture Income (Loss)	986	0	0
Unconsolidated Real Estate Venture Debt at 100%, gross	$ 0	0
Number of properties sold | portfolio				14
4040 Wilson Venture
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	50%					50%
Investments in equity securities	$ 0	29,419
Company's unconsolidated real estate venture Income (Loss)	(10,618)	(2,536)	(1,211)
Unconsolidated Real Estate Venture Debt at 100%, gross	$ 0	145,000
1919 Venture
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	50%
Investments in equity securities	$ 0	0
Company's unconsolidated real estate venture Income (Loss)	0	0	1,392
Unconsolidated Real Estate Venture Debt at 100%, gross	$ 0	0
One Uptown - Multifamily
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	50%
Investments in equity securities	$ 29,818	32,124
Company's unconsolidated real estate venture Income (Loss)	(3,800)	0	0
Unconsolidated Real Estate Venture Debt at 100%, gross	$ 72,197	40,270
3025 JFK Boulevard
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	64%
Investments in equity securities	$ 61,379	62,034
Company's unconsolidated real estate venture Income (Loss)	(19,271)	(4,456)	(35)
Unconsolidated Real Estate Venture Debt at 100%, gross	$ 173,754	152,032
JBG 51 N Street
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	70%
Investments in equity securities	$ 8,209	21,150
Company's unconsolidated real estate venture Income (Loss)	(13,397)	(435)	(382)
Unconsolidated Real Estate Venture Debt at 100%, gross	$ 0	0
JBG 1250 First Street Office
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	70%
Investments in equity securities	$ 8,531	17,843
Company's unconsolidated real estate venture Income (Loss)	(9,586)	(269)	(195)
Unconsolidated Real Estate Venture Debt at 100%, gross	$ 0	0
3151 Market Street Venture
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	76%
Investments in equity securities	$ 168,925	90,645
Company's unconsolidated real estate venture Income (Loss)	(105)	(72)	(8)
Unconsolidated Real Estate Venture Debt at 100%, gross	$ 0	$ 0
One Uptown - Office
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	62%	57%
Investments in equity securities	$ 60,677	$ 47,036
Company's unconsolidated real estate venture Income (Loss)	(201)	0	$ 0
Unconsolidated Real Estate Venture Debt at 100%, gross	$ 69,047	$ 51,701

INVESTMENT IN UNCONSOLIDATED _5

INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES - Financial Position of Real Estate Ventures (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Net property	$ 2,425,097	$ 2,675,272
Other assets	113,647	86,051
Other liabilities	12,587	63,729
Debt, net	2,212,814
Equity	1,044,587	1,324,157	$ 1,633,334	$ 1,701,219
Investment In Nonconsolidated Real Estate
Schedule of Equity Method Investments [Line Items]
Net property	1,641,085	2,339,921
Other assets	238,406	534,658
Other liabilities	107,801	443,536
Debt, net	752,325	1,407,858
Equity	$ 1,019,365	$ 1,023,185

INVESTMENT IN UNCONSOLIDATED _6

INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES - Schedule of Results of Operations of Real Estate Ventures with Interests (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Revenue	$ 505,517	$ 514,651	$ 506,100
Operating expenses	(452,934)	(545,179)	(412,054)
Interest expense, net	(116,306)	(95,456)	(68,764)
Depreciation and amortization	(178,168)	(188,797)	(177,984)
Provision for impairment	(44,655)	(131,573)	(4,663)
Net income (loss)	(196,487)	(197,403)	53,992
Other-than-temporary impairment	(8,378)	(37,176)	0
Equity in loss of unconsolidated real estate ventures	(191,585)	(77,915)	(22,016)
Investment In Nonconsolidated Real Estate
Schedule of Equity Method Investments [Line Items]
Revenue	157,361	232,895	244,981
Operating expenses	(79,093)	(122,181)	(124,608)
Interest expense, net	(58,785)	(78,909)	(49,007)
Depreciation and amortization	(70,536)	(100,205)	(103,378)
Provision for impairment	(148,347)	0	0
Net income (loss)	(199,400)	(68,400)	(32,012)
Company's share of net loss	(183,141)	(39,637)	(21,594)
Basis adjustments and other	$ (66)	$ (1,102)	$ (422)

INVESTMENT IN UNCONSOLIDATED _7

INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES - Schedule of Maturities of Long-term Debt (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Schedule of Equity Method Investments [Line Items]
2025	$ 70,000
2026	32,734
2027	700,000
2028	595,000
2029	750,000
Thereafter	78,610
Total principal payments	2,226,344
Net deferred financing costs	(12,986)
Outstanding indebtedness	2,212,814
Unconsolidated Real Estate Ventures
Schedule of Equity Method Investments [Line Items]
2025	0
2026	173,754
2027	141,244
2028	220,000
2029	222,023
Thereafter	0
Total principal payments	757,021
Net deferred financing costs	(4,696)
Outstanding indebtedness	$ 752,325

INVESTMENT IN UNCONSOLIDATED _8

INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES - One Uptown Ventures (Details) $ in Thousands		12 Months Ended
	Jul. 29, 2022 USD ($) loan	Dec. 31, 2024 USD ($) ft²	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 01, 2021 USD ($) ft² apartment property
Schedule of Equity Method Investments [Line Items]
Investment in real estate ventures, at equity		$ 570,455	$ 552,494
Area of real estate property | ft²		12,098,843
Principal balance outstanding		$ 2,226,344
Payments to acquire investment		194,027	85,922	$ 47,428
Investments in equity securities		570,455	552,494
Unsecured Debt
Schedule of Equity Method Investments [Line Items]
Principal balance outstanding		1,948,610	1,888,610
Unsecured Debt | $600 million Unsecured Credit Facility
Schedule of Equity Method Investments [Line Items]
Principal balance outstanding		$ 0	$ 0
Unsecured Debt | SOFR | $600 million Unsecured Credit Facility
Schedule of Equity Method Investments [Line Items]
Basis spread on interest rate (as percent)		1.50%
Unsecured Debt | Daily SOFR Adjustment | $600 million Unsecured Credit Facility
Schedule of Equity Method Investments [Line Items]
Basis spread on interest rate (as percent)		0.10%
One Uptown Venture
Schedule of Equity Method Investments [Line Items]
Investment in real estate ventures, at equity					$ 345,600
Number of apartment residences | apartment					341
Joint venture, funding committed by other party					$ 64,500
One Uptown Venture | Carry Guarantee | Loans Payable
Schedule of Equity Method Investments [Line Items]
Guarantee obligations, payment (as percent)	30%
One Uptown Venture | Limited Payment Guarantee | Loans Payable
Schedule of Equity Method Investments [Line Items]
Guarantee obligations, payment (as percent)	15%
One Uptown Venture | Construction Loans
Schedule of Equity Method Investments [Line Items]
Number of loans closed | loan	2
Principal balance outstanding	$ 121,700
Option to extend, term	1 year
One Uptown Venture | Construction Loans | Multifamily Joint Venture
Schedule of Equity Method Investments [Line Items]
Principal balance outstanding	$ 85,000
Option to extend, term	1 year
One Uptown Venture | Construction Loans | SOFR
Schedule of Equity Method Investments [Line Items]
Basis spread on interest rate (as percent)	3%
One Uptown Venture | Construction Loans | SOFR | Multifamily Joint Venture
Schedule of Equity Method Investments [Line Items]
Basis spread on interest rate (as percent)	2.45%
One Uptown Venture | Preferred Stock
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage					50%
One Uptown Venture | Common Stock
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage					50%
One Uptown Venture | Canyon Partners Real Estate
Schedule of Equity Method Investments [Line Items]
Number of joint ventures | property					2
One Uptown Venture | Class A Workspace
Schedule of Equity Method Investments [Line Items]
Area of real estate property | ft²					348,000
One Uptown Venture | Street Level Retail
Schedule of Equity Method Investments [Line Items]
Area of real estate property | ft²					15,000
One Uptown - Office
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		62%	57%
Payments to acquire investment		$ 11,100
Investments in equity securities		60,677	$ 47,036
One Uptown - Office | Multifamily Joint Venture
Schedule of Equity Method Investments [Line Items]
Payments to acquire investment		$ 0

INVESTMENT IN UNCONSOLIDATED _9

INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES - 3151 Market Street Venture (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) ft²	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jul. 14, 2022 USD ($) ft²
Schedule of Equity Method Investments [Line Items]
Area of real estate property | ft²	12,098,843
Investment in real estate ventures, at equity	$ 570,455	$ 552,494
Payments to acquire investment	194,027	85,922	$ 47,428
Investments in equity securities	570,455	$ 552,494
3151 Market Street
Schedule of Equity Method Investments [Line Items]
Area of real estate property | ft²				417,000
Investment in real estate ventures, at equity	$ 316,900			$ 317,000
3151 Market Street | Joint Venture With Unaffiliated Third Party
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	76%	64%
Payments to acquire investment	$ 71,200
Investments in equity securities	$ 168,900
3151 Market Street | Joint Venture With Unaffiliated Third Party
Schedule of Equity Method Investments [Line Items]
Investment in real estate ventures, at equity				$ 49,900
3151 Market Street | Joint Venture With Unaffiliated Third Party | Joint Venture With Unaffiliated Third Party
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage				35%

INVESTMENT IN UNCONSOLIDATED_10

INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES - Cira Square (Details) $ in Thousands			12 Months Ended
	May 06, 2024 USD ($)	Mar. 17, 2022 USD ($) ft²	Dec. 31, 2024 USD ($) ft²	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Schedule of Equity Method Investments [Line Items]
Area of real estate property | ft²			12,098,843
Purchase price			$ 0	$ 7,747	$ 3,446
Investments in equity securities			570,455	$ 552,494
Cira Square REIT, LLC
Schedule of Equity Method Investments [Line Items]
Cost		$ 383,000
Equity method investment, ownership percentage		20%
Purchase price	$ 19,400	$ 28,600
Basis spread on interest rate (as percent)		3.50%
Investments in equity securities			$ 43,000
Cira Square REIT, LLC | All Investors
Schedule of Equity Method Investments [Line Items]
Purchase price	96,900
Cira Square REIT, LLC | Fixed rate debt
Schedule of Equity Method Investments [Line Items]
Debt instrument, face amount		$ 257,700
Proceeds from issuance of secured debt	$ 160,000
Debt instrument, interest rate, stated percentage	8.817%
Office Properties | Cira Square REIT, LLC
Schedule of Equity Method Investments [Line Items]
Area of real estate property | ft²		862,692

INVESTMENT IN UNCONSOLIDATED_11

INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES - 4040 Wilson Venture (Details) $ in Thousands		3 Months Ended	12 Months Ended
	Dec. 24, 2024 USD ($)	Sep. 30, 2024 USD ($)	Dec. 31, 2024 USD ($) ft² a property	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Schedule of Equity Method Investments [Line Items]
Number of real estate properties | property			64
Area of real estate property | ft²			12,098,843
Payments to acquire investment			$ 194,027	$ 85,922	$ 47,428
Other-than-temporary impairment			8,378	37,176	$ 0
Net property			$ 2,425,097	$ 2,675,272
4040 Wilson Venture
Schedule of Equity Method Investments [Line Items]
Number of real estate properties | property			1
Area of real estate property | ft²			225,000
Land area | a			250
Equity method investment, ownership percentage		50%	50%
Payments to acquire investment		$ 190,500
Other-than-temporary impairment		$ 8,400
Percentage of ownership interest sold	0.50
Proceeds from real estate venture sales	$ 95,300
Net property	$ 190,500

INVESTMENT IN UNCONSOLIDATED_12

INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES - Brandywine - AI Venture (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Net gain on real estate venture transactions	$ 56,750	$ 181	$ 26,718

INVESTMENT IN UNCONSOLIDATED_13

INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES - 3025 JFK Venture (Details) ft² in Thousands, $ in Thousands		12 Months Ended
	Feb. 02, 2021 USD ($) ft² a	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jul. 23, 2021 USD ($)
Schedule of Equity Method Investments [Line Items]
Investment in real estate ventures, at equity		$ 570,455	$ 552,494
Payments to acquire investment		194,027	85,922	$ 47,428
Derivative, notional amount		$ 328,610	$ 250,000
3025 JFK Boulevard
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		64%
3025 JFK Venture
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		64%
3025 JFK Venture | Interest Rate Cap
Schedule of Equity Method Investments [Line Items]
Debt instrument, interest rate, stated percentage					3%
Derivative, notional amount					$ 148,000
Derivative asset					$ 187,000
Debt instrument, maximum interest rate					6.60%
3025 JFK Venture | SOFR | Interest Rate Cap
Schedule of Equity Method Investments [Line Items]
Debt instrument, interest rate, stated percentage					3.60%
3025 JFK Boulevard
Schedule of Equity Method Investments [Line Items]
Lease agreement term (in years)	99 years
Land area | a	1
Investment in real estate ventures, at equity	$ 34,800
Area of building to be constructed | ft²	428
Estimated project cost	$ 320,100
Joint venture, funding committed by other party	$ 45,200
Ownership interest held by partner	45%
3025 JFK Venture
Schedule of Equity Method Investments [Line Items]
Construction loan amount					$ 186,700
Construction loan, option to extend, term		1 year
3025 JFK Venture | LIBOR
Schedule of Equity Method Investments [Line Items]
Debt instrument, interest rate, stated percentage					3.50%
Interest rate, floor					0.25%
3025 JFK Venture | 3025 JFK Venture
Schedule of Equity Method Investments [Line Items]
Payments to acquire investment		$ 17,500

INVESTMENT IN UNCONSOLIDATED_14

INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES - Mid-Atlantic Office JV (Details) $ in Thousands			12 Months Ended
	Aug. 09, 2024 USD ($)	Dec. 21, 2020 USD ($) ft² property	Dec. 31, 2024 USD ($) property	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Schedule of Equity Method Investments [Line Items]
Number of real estate properties | property			64
Investment in real estate ventures, at equity			$ 570,455	$ 552,494
Payments to acquire investment			194,027	85,922	$ 47,428
Philadelphia CBD
Schedule of Equity Method Investments [Line Items]
Investment in real estate ventures, at equity			$ 452,334	$ 450,136
Mid-Atlantic Office JV
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		40%	40%
Ownership percentage of total common equity		20%
Joint venture, funding from debt		$ 147,400
Proceeds from issuance of secured debt		$ 120,800
Equity method investment, debt forgiveness	$ 39,800
Payments to acquire investment	$ 4,100
Mid-Atlantic Office JV | Preferred Equity Securities
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		25%
Investment in real estate ventures, at equity		$ 20,000
Mid-Atlantic Office JV | Common Equity Securities
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		15%
Office Properties | Mid-Atlantic Office JV
Schedule of Equity Method Investments [Line Items]
Number of real estate properties | property		12
Rentable area (in square feet) | ft²		1,128,645
Aggregate sales price		$ 192,900
Office Properties | Mid-Atlantic Office JV | Philadelphia CBD
Schedule of Equity Method Investments [Line Items]
Number of real estate properties | property		9
Office Properties | Mid-Atlantic Office JV | Metropolitan D C
Schedule of Equity Method Investments [Line Items]
Number of real estate properties | property		3

INVESTMENT IN UNCONSOLIDATED_15

INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES - Commerce Square Venture (Details) $ in Thousands			1 Months Ended	3 Months Ended	12 Months Ended
	Dec. 01, 2023 USD ($)	Jun. 02, 2023 USD ($)	Nov. 30, 2024 USD ($)	Sep. 30, 2024 USD ($)	Dec. 31, 2024 USD ($) property entity	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Schedule of Equity Method Investments [Line Items]
Number of Properties | property					64
Payments to acquire investment					$ 194,027	$ 85,922	$ 47,428
Recognized a provision for impairment	$ 16,700
Commerce Square Venture
Schedule of Equity Method Investments [Line Items]
Number of entities | entity					2
Payments to acquire investment		$ 46,500	$ 23,000
Additional ownership percentage acquired		0.08
Equity method investment, ownership percentage			84%		84%
Recognized a provision for impairment				$ 116,500
Commerce Square Venture | Fixed rate debt
Schedule of Equity Method Investments [Line Items]
Debt instrument, face amount		$ 220,000
Debt instrument, interest rate, stated percentage		7.79%
Commerce Square Venture | Office Properties
Schedule of Equity Method Investments [Line Items]
Number of Properties | property					2

INVESTMENT IN UNCONSOLIDATED_16

INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES - Hernadon Innovation Center Metro Portfolio Venture, LLC (Details) $ in Thousands	Dec. 31, 2024 USD ($) ft² property
Schedule of Equity Method Investments [Line Items]
Area of real estate property | ft²	12,098,843
Debt, net | $	$ 2,212,814
Herndon Innovation Center Metro Portfolio Venture, LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	15%
Herndon Innovation Center Metro Portfolio Venture, LLC | Metropolitan Washington, D.C. - Office
Schedule of Equity Method Investments [Line Items]
Number of properties contributed to joint venture | property	8
Area of real estate property | ft²	1,293,197
Herndon Innovation Center Metro Portfolio Venture, LLC | Fixed rate debt
Schedule of Equity Method Investments [Line Items]
Debt, net | $	$ 233,400
Herndon Innovation Center Metro Portfolio Venture, LLC | Minimum | Metropolitan Washington, D.C. - Office
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	15%
Herndon Innovation Center Metro Portfolio Venture, LLC | Maximum | Metropolitan Washington, D.C. - Office
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	85%

INVESTMENT IN UNCONSOLIDATED_17

INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES - MAP Venture and New MAP Venture (Details)		12 Months Ended
	Jun. 28, 2024 USD ($) property	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)
Schedule of Equity Method Investments [Line Items]
Investment in real estate ventures, at equity		$ 570,455,000	$ 552,494,000
Total Debt Obligations		2,212,814,000
Net gain on real estate venture transactions		$ 56,750,000	$ 181,000	$ 26,718,000
MAP Venture
Schedule of Equity Method Investments [Line Items]
Number of unconsolidated real estate ventures recapitalized | property	1
Real estate investment, net						$ 52,200,000
Ownership Percentage		5%				50%
Investment in real estate ventures, at equity	$ 0				$ 0
Number of office properties owned | property	57
Net gain on real estate venture transactions	$ 53,800,000
MAP Venture | Additional Funding For Tenant And Capital Improvement Of Properties
Schedule of Equity Method Investments [Line Items]
Other commitment	$ 12,000,000	$ 12,000,000
MAP Venture | Fixed rate debt
Schedule of Equity Method Investments [Line Items]
Debt instrument, interest rate, stated percentage	8%	8%
MAP Venture | Fixed rate debt | Nonrecourse Mortgage Loan
Schedule of Equity Method Investments [Line Items]
Total Debt Obligations	$ 154,600,000
MAP Venture | Fixed rate debt | Nonrecourse Mortgage Loan | MAP Venture
Schedule of Equity Method Investments [Line Items]
Basis spread on interest rate (as percent)	2.75%
Debt instrument, interest rate, stated percentage	95%
KB Joint Venture
Schedule of Equity Method Investments [Line Items]
Investment in real estate ventures, at equity	$ 26,000,000
Number of properties contributed to joint venture | property	14

INVESTMENT IN UNCONSOLIDATED_18

INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES - JGB Ventures (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) a joint_venture property	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Schedule of Equity Method Investments [Line Items]
Number of real estate properties | property	64
Other-than-temporary impairment | $	$ 8,378	$ 37,176	$ 0
JBG Ventures
Schedule of Equity Method Investments [Line Items]
Other-than-temporary impairment | $	$ 22,200
JBG/DC Manager LLC
Schedule of Equity Method Investments [Line Items]
Number of real estate properties | joint_venture	2
JBG 1250 First Street Office
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	70%
Area owned by real estate venture of undeveloped parcels of land | a	0.5
JBG 1250 First Street Office | JBG Ventures
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	70%
JBG 1250 First Street Office | JBG/DC Manager LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	30%
JBG 51 N Street
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	70%
Area owned by real estate venture of undeveloped parcels of land | a	0.9
JBG 51 N Street | JBG Ventures
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	70%
JBG 51 N Street | JBG/DC Manager LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	30%

INVESTMENT IN UNCONSOLIDATED_19

INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES - KB Joint Venture (Details) $ in Thousands	Dec. 20, 2024 USD ($) ft² portfolio	Jun. 28, 2024 USD ($) ft² portfolio	Dec. 31, 2024 USD ($) ft²	Dec. 31, 2023 USD ($)
Schedule of Equity Method Investments [Line Items]
Investment in real estate ventures, at equity			$ 570,455	$ 552,494
Area of real estate property | ft²			12,098,843
KB JV
Schedule of Equity Method Investments [Line Items]
Proceeds from sale of buildings	$ 66,800
KB JV
Schedule of Equity Method Investments [Line Items]
Repayments of debt	$ 13,000
KB JV
Schedule of Equity Method Investments [Line Items]
Number of properties contributed to joint venture | portfolio		14
Investment in real estate ventures, at equity		$ 26,000
Area of real estate property | ft²		641,819
Ownership Percentage		50%	50%
Number of properties sold | portfolio	14
Area of buildings sold | ft²	643,000
Proceeds from real estate venture sales	$ 15,500
Percentage of ownership interest sold	0.50
KB JV | Loan With Related Party
Schedule of Equity Method Investments [Line Items]
Amount of transaction		$ 13,000

LEASES - Schedule of Operating

LEASES - Schedule of Operating Lease Future Contractual Lease Payments (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract]
2025	$ 337,848
2026	337,910
2027	315,282
2028	282,838
2029	228,722
Thereafter	$ 837,634

LEASES - Narrative (Details)

LEASES - Narrative (Details)	12 Months Ended
	Dec. 31, 2024 lease property
Lessee, Lease, Description [Line Items]
Number of ground leases considered operating lease | lease	6
Number of properties subject to ground leases | property	3
Minimum
Lessee, Lease, Description [Line Items]
Lease terms (in years)	5 years
Maximum
Lessee, Lease, Description [Line Items]
Lease terms (in years)	60 years

LEASES - Schedule of Lease Cost

LEASES - Schedule of Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Fixed lease cost	$ 2,100	$ 2,100
Variable lease cost	42	57
Total	$ 2,142	$ 2,157
Weighted-average remaining lease term (years)	53 years 3 months 18 days	54 years
Weighted-average discount rate	6.30%	6.30%

LEASES - Schedule of Operatin_2

LEASES - Schedule of Operating Lease Liability Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Minimum Rent
2025	$ 1,321
2026	1,338
2027	1,355
2028	1,373
2029	1,418
Thereafter	103,646
Total lease payments	110,451
Less: Imputed interest	86,905
Present value of operating lease liabilities	$ 23,546	$ 23,369

DEFERRED COSTS - Schedule of De

DEFERRED COSTS - Schedule of Deferred Costs (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred Costs [Line Items]
Financing costs, Deferred Costs, net	$ 12,986
Deferred Costs, net	84,317	$ 95,984
Financing costs - Unsecured Credit Facility
Deferred Costs [Line Items]
Leasing costs, Total Cost	153,557	164,274
Financing costs, Total Cost	4,688	4,688
Total Cost	158,245	168,962
Leasing costs, Accumulated Amortization	(70,998)	(71,220)
Financing costs, Accumulated Amortization	(2,930)	(1,758)
Total, Accumulated Amortization	(73,928)	(72,978)
Leasing costs, Deferred Costs, net	82,559	93,054
Financing costs, Deferred Costs, net	1,758	2,930
Deferred Costs, net	$ 84,317	$ 95,984

DEFERRED COSTS - Narrative (Det

DEFERRED COSTS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Capitalized internal direct leasing costs	$ 2	$ 1.8	$ 3

INTANGIBLE ASSETS AND LIABILI_3

INTANGIBLE ASSETS AND LIABILITIES - Schedule of Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Intangible assets, net:
Total Cost	$ 15,979	$ 24,466
Accumulated Amortization	(10,474)	(16,772)
Total	5,505	7,694
Intangible liabilities, net:
Total Cost	16,413	17,588
Accumulated Amortization	(9,121)	(9,318)
Total	7,292	8,270
In-place lease value
Intangible assets, net:
Total Cost	15,794	24,281
Accumulated Amortization	(10,363)	(16,673)
Total	5,431	7,608
Tenant relationship value
Intangible assets, net:
Total Cost	110	110
Accumulated Amortization	(57)	(52)
Total	53	58
Above market leases acquired
Intangible assets, net:
Total Cost	75	75
Accumulated Amortization	(54)	(47)
Total	$ 21	$ 28

INTANGIBLE ASSETS AND LIABILI_4

INTANGIBLE ASSETS AND LIABILITIES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Tenant Move Outs Prior To End Of Lease Term
Finite-Lived Intangible Assets [Line Items]
Intangible assets written off through accelerated amortization	$ 0	$ 100	$ 400
Tenant Move-Outs
Finite-Lived Intangible Assets [Line Items]
Intangible assets written off through accelerated amortization	$ 0	$ 10	$ 100

INTANGIBLE ASSETS AND LIABILI_5

INTANGIBLE ASSETS AND LIABILITIES - Schedule of Amortization for Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets
2025	$ 1,692
2026	813
2027	570
2028	253
2029	253
Thereafter	1,924
Total	5,505	$ 7,694
Liabilities
2025	842
2026	722
2027	618
2028	533
2029	533
Thereafter	4,044
Total	$ 7,292	$ 8,270

DEBT OBLIGATIONS - Schedule of

DEBT OBLIGATIONS - Schedule of Consolidated Debt Obligations (Details) - USD ($)			1 Months Ended			12 Months Ended
	Apr. 15, 2024	Mar. 01, 2023	Apr. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Dec. 31, 2024	Jun. 07, 2024	Apr. 12, 2024	Jan. 16, 2024	Dec. 31, 2023	Aug. 15, 2023	Dec. 13, 2022	Nov. 23, 2022	Jun. 30, 2022
Debt Instrument [Line Items]
Principal balance outstanding						$ 2,226,344,000
Plus: original issue premium (discount), net						(544,000)
Less: deferred financing costs						(12,986,000)
Debt, net						2,212,814,000
Fixed rate debt
Debt Instrument [Line Items]
Principal balance outstanding						275,338,000				$ 255,671,000
Less: deferred financing costs						(2,396,000)				(3,153,000)
Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	4.25%
Principal balance outstanding						1,948,610,000				1,888,610,000
Plus: original issue premium (discount), net						(544,000)				1,878,000
Less: deferred financing costs						(10,590,000)				(7,327,000)
Debt, net						1,937,476,000				1,883,161,000
$245.0M 5.88% Secured Term Loan due 2028 | Fixed rate debt
Debt Instrument [Line Items]
Debt instrument, face amount						$ 245,000,000
Debt instrument, interest rate, stated percentage						5.88%
Principal balance outstanding						$ 245,000,000				245,000,000
Effective interest rate						5.88%
$50.0M Construction Loan due 2026 | Fixed rate debt
Debt Instrument [Line Items]
Debt instrument, face amount						$ 50,000,000					$ 50,000,000
Principal balance outstanding						$ 32,734,000				13,824,000
$50.0M Construction Loan due 2026 | Fixed rate debt | SOFR
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage											2.50%
Effective interest rate						2.50%
Principal balance outstanding | Fixed rate debt
Debt Instrument [Line Items]
Principal balance outstanding						$ 277,734,000				258,824,000
$600 million Unsecured Credit Facility | Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, face amount						600,000,000
Principal balance outstanding						$ 0				0
$600 million Unsecured Credit Facility | Unsecured Debt | SOFR
Debt Instrument [Line Items]
Variable interest rate						1.50%
$600 million Unsecured Credit Facility | Unsecured Debt | Daily SOFR Adjustment
Debt Instrument [Line Items]
Variable interest rate						0.10%
Term Loan - Swapped to fixed | Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, face amount													$ 250,000,000
Debt instrument, interest rate, stated percentage						5.41%
Principal balance outstanding						$ 250,000,000				250,000,000				$ 250,000,000
Term Loan - Swapped to fixed | Unsecured Debt | SOFR
Debt Instrument [Line Items]
Variable interest rate						1.70%
$70.0 million Term Loan | Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, face amount		$ 70,000,000				$ 70,000,000
Principal balance outstanding						$ 70,000,000				70,000,000
$70.0 million Term Loan | Unsecured Debt | SOFR
Debt Instrument [Line Items]
Variable interest rate						2%
$70.0 million Term Loan | Unsecured Debt | Daily SOFR Adjustment
Debt Instrument [Line Items]
Variable interest rate		0.10%				0.10%
$350.0M 4.10% Guaranteed Notes due 2024 | Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, face amount	$ 335,100,000					$ 350,000,000
Debt instrument, interest rate, stated percentage	4.10%					4.10%
Principal balance outstanding						$ 0				340,000,000
Effective interest rate						3.78%
Variable interest rate	0%
Redemption on remaining principal amount							$ 113,400,000
$450.0M 3.95% Guaranteed Notes due 2027 | Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, face amount						$ 450,000,000
Debt instrument, interest rate, stated percentage						3.95%
Principal balance outstanding						$ 450,000,000				450,000,000
Effective interest rate						4.03%
$350.0M 8.30% Guaranteed Notes due 2028 | Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, face amount						$ 350,000,000						$ 350,000,000
Debt instrument, interest rate, stated percentage			8.30%	8.05%	7.55%	8.30%						7.55%
Principal balance outstanding						$ 350,000,000				350,000,000
Effective interest rate						8.48%
Variable interest rate			0.25%	0.25%	0.25%
$350.0M 4.55% Guaranteed Notes due 2029 | Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, face amount						$ 350,000,000		$ 400,000,000
Debt instrument, interest rate, stated percentage						4.55%		8.875%
Principal balance outstanding						$ 350,000,000				350,000,000
Effective interest rate						4.30%
$350.0M 8.88% Guaranteed Notes due 2029 | Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, face amount						$ 350,000,000
Debt instrument, interest rate, stated percentage						8.88%
Principal balance outstanding						$ 400,000,000				0
Effective interest rate						8.97%
Indenture IA (Preferred Trust I) | Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage									5.14%
Principal balance outstanding						$ 27,062,000				27,062,000
Indenture IA (Preferred Trust I) | Unsecured Debt | SOFR
Debt Instrument [Line Items]
Variable interest rate						1.51%
Indenture IB (Preferred Trust I) | Unsecured Debt
Debt Instrument [Line Items]
Principal balance outstanding						$ 25,774,000				25,774,000
Indenture IB (Preferred Trust I) | Unsecured Debt | SOFR
Debt Instrument [Line Items]
Variable interest rate						1.51%
Indenture II (Preferred Trust II) | Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage									5.24%
Principal balance outstanding						$ 25,774,000				$ 25,774,000
Indenture II (Preferred Trust II) | Unsecured Debt | SOFR
Debt Instrument [Line Items]
Variable interest rate						1.51%

DEBT OBLIGATIONS - Narrative (D

DEBT OBLIGATIONS - Narrative (Details)

1 Months Ended

12 Months Ended

Apr. 15, 2024 USD ($)

Apr. 12, 2024 USD ($)

Mar. 01, 2023 USD ($)

Jan. 19, 2023 USD ($) property subsidiary

Dec. 13, 2022 USD ($)

Jun. 30, 2022 USD ($) property

Apr. 30, 2024

Mar. 31, 2024

Jan. 31, 2024

Sep. 30, 2023

Dec. 31, 2024 USD ($)

Dec. 31, 2023 USD ($)

Dec. 31, 2022 USD ($)

Jun. 07, 2024 USD ($)

Aug. 15, 2023 USD ($)

Nov. 23, 2022 USD ($)

Debt Instrument [Line Items]

Proceeds from unsecured notes

$ 400,000,000

$ 0

$ 350,000,000

Principal balance outstanding

2,226,344,000

Unsecured Debt

Debt Instrument [Line Items]

Debt instrument, interest rate, stated percentage

4.25%

Principal balance outstanding

1,948,610,000

1,888,610,000

Fixed rate debt

Debt Instrument [Line Items]

Principal balance outstanding

$ 275,338,000

$ 255,671,000

Letter of Credit

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 50,000,000

Financing costs - Unsecured Credit Facility

Debt Instrument [Line Items]

Long-term debt, weighted average interest rate

6.74%

5.94%

Interest expense borrowings

$ 2,100,000

$ 600,000

Financing costs - Unsecured Credit Facility | Line of Credit

Debt Instrument [Line Items]

Maximum borrowing capacity

600,000,000

Capitalized financing costs

4,700,000

Line of credit facility, accordion feature

$ 500,000,000

Financing costs - Unsecured Credit Facility | Line of Credit | Base Rate | Minimum

Debt Instrument [Line Items]

Basis spread on interest rate (as percent)

0%

Financing costs - Unsecured Credit Facility | Line of Credit | Base Rate | Maximum

Debt Instrument [Line Items]

Basis spread on interest rate (as percent)

0.40%

Financing costs - Unsecured Credit Facility | Line of Credit | Secured Overnight Financing Rate (SOFR) | Minimum

Debt Instrument [Line Items]

Basis spread on interest rate (as percent)

0.725%

Financing costs - Unsecured Credit Facility | Line of Credit | Secured Overnight Financing Rate (SOFR) | Maximum

Debt Instrument [Line Items]

Basis spread on interest rate (as percent)

1.40%

$350.0M 4.55% Guaranteed Notes due 2029 | Unsecured Debt

Debt Instrument [Line Items]

Debt instrument, face amount

$ 400,000,000

$ 350,000,000

Debt instrument, interest rate, stated percentage

8.875%

4.55%

Percentage of face amount

99.51%

Proceeds from unsecured notes

$ 391,800,000

Principal balance outstanding

$ 350,000,000

350,000,000

$350.0M 4.10% Guaranteed Notes due 2024 | Unsecured Debt

Debt Instrument [Line Items]

Debt instrument, face amount

$ 335,100,000

$ 350,000,000

Debt instrument, interest rate, stated percentage

4.10%

4.10%

Redemption on remaining principal amount

$ 113,400,000

Basis spread on interest rate (as percent)

0%

Principal balance outstanding

$ 0

340,000,000

Secured Facility | Fixed rate debt

Debt Instrument [Line Items]

Debt instrument, face amount

$ 245,000,000

Debt instrument, interest rate, stated percentage

5.88%

Number of wholly owned subsidiaries participating in a loan agreement | subsidiary

7

Number of operating properties | property

7

$70.0 million Term Loan | Unsecured Debt

Debt Instrument [Line Items]

Debt instrument, face amount

$ 70,000,000

70,000,000

Debt instrument, term

1 year

Debt instrument, extension term duration

12 months

Principal balance outstanding

$ 70,000,000

70,000,000

$70.0 million Term Loan | Unsecured Debt | Daily SOFR Adjustment

Debt Instrument [Line Items]

Basis spread on interest rate (as percent)

0.10%

0.10%

$70.0 million Term Loan | Unsecured Debt | Daily Simple SOFR

Debt Instrument [Line Items]

Basis spread on interest rate (as percent)

1.90%

$70.0 million Term Loan | Unsecured Debt | SOFR

Debt Instrument [Line Items]

Basis spread on interest rate (as percent)

2%

Term Loan - Swapped to fixed | Unsecured Debt

Debt Instrument [Line Items]

Debt instrument, face amount

$ 250,000,000

Debt instrument, interest rate, stated percentage

5.41%

Principal balance outstanding

$ 250,000,000

$ 250,000,000

250,000,000

Term Loan - Swapped to fixed | Unsecured Debt | Base Rate | Minimum

Debt Instrument [Line Items]

Basis spread on interest rate (as percent)

0%

Term Loan - Swapped to fixed | Unsecured Debt | Base Rate | Maximum

Debt Instrument [Line Items]

Basis spread on interest rate (as percent)

0.60%

Term Loan - Swapped to fixed | Unsecured Debt | SOFR

Debt Instrument [Line Items]

Basis spread on interest rate (as percent)

1.70%

Term Loan - Swapped to fixed | Unsecured Debt | Secured Overnight Financing Rate (SOFR) | Minimum

Debt Instrument [Line Items]

Basis spread on interest rate (as percent)

0.80%

Term Loan - Swapped to fixed | Unsecured Debt | Secured Overnight Financing Rate (SOFR) | Maximum

Debt Instrument [Line Items]

Basis spread on interest rate (as percent)

1.60%

Term Loan - Swapped to fixed | Line of Credit

Debt Instrument [Line Items]

Capitalized financing costs

$ 2,000,000

2022 Credit Facility | Financing costs - Unsecured Credit Facility | Line of Credit

Debt Instrument [Line Items]

Debt instrument, extension term duration

6 months

Debt instrument, number of extensions | property

2

Line of credit facility covenant minimum fixed charge coverage ratio

1.5

Line of credit facility covenant maximum leverage ratio

0.60

Line of credit facility covenant maximum unsecured indebtedness to unencumbered asset value ratio

0.60

Line of credit facility covenant maximum secured indebtedness to asset value ratio

0.40

Line of credit facility covenant minimum unencumbered cash flow to interest expense on unsecured debt ratio

1.75

Line of credit facility covenant maximum percent of payments of dividends and distributions

0.95

$50.0M Construction Loan due 2026

Debt Instrument [Line Items]

Percent of commitment guaranteed

20%

$50.0M Construction Loan due 2026 | Fixed rate debt

Debt Instrument [Line Items]

Debt instrument, face amount

$ 50,000,000

$ 50,000,000

Principal balance outstanding

32,734,000

13,824,000

$50.0M Construction Loan due 2026 | Fixed rate debt | SOFR

Debt Instrument [Line Items]

Debt instrument, interest rate, stated percentage

2.50%

$350.0M 8.30% Guaranteed Notes due 2028 | Unsecured Debt

Debt Instrument [Line Items]

Debt instrument, face amount

$ 350,000,000

$ 350,000,000

Debt instrument, interest rate, stated percentage

7.55%

8.30%

8.05%

7.55%

8.30%

Percentage of face amount

99.06%

Proceeds from unsecured notes

$ 344,600,000

Basis spread on interest rate (as percent)

0.25%

0.25%

0.25%

Principal balance outstanding

$ 350,000,000

$ 350,000,000

Unsecured term loans, net

$ 3,300,000

DEBT OBLIGATIONS - Aggregate Sc

DEBT OBLIGATIONS - Aggregate Scheduled Principal Payments of Debt Obligation, Excluding Amortization of Discounts and Premiums (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Debt Disclosure [Abstract]
2025	$ 70,000
2026	32,734
2027	700,000
2028	595,000
2029	750,000
Thereafter	78,610
Total principal payments	2,226,344
Net unamortized premiums/(discounts)	(544)
Net deferred financing costs	(12,986)
Outstanding indebtedness	$ 2,212,814

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed rate debt	$ 275,338	$ 255,671
Deferred financing costs, net	12,986
Unsecured notes payable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Deferred financing costs, net	10,590	7,327
Unsecured notes payable | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured notes payable	1,539,917	1,486,052
Deferred financing costs, net	9,500	5,800
Unsecured notes payable | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value	1,537,210	1,386,621
Variable rate debt | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Variable rate debt	430,293	410,932
Deferred financing costs, net	1,100	1,500
Variable rate debt | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value	403,880	370,665
Fixed rate debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Deferred financing costs, net	2,396	3,153
Fixed rate debt | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed rate debt	242,605	241,847
Deferred financing costs, net	2,400	3,200
Fixed rate debt | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value	$ 232,804	$ 233,088

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Derivative, notional amount	$ 328,610	$ 250,000
3.713% Interest Rate Swap | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Derivative asset, notional amount	250,000	0
Derivative liability, notional amount	$ 0	250,000
Strike	3.713%
Derivative asset, fair value, gross asset	$ 1,666	0
Derivative liability, fair value, gross liability	0	(757)
3.629% Interest Rate Swap | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Derivative asset, notional amount	$ 27,062	0
Strike	3.629%
Derivative asset, fair value, gross asset	$ 206	0
3.725% Interest Rate Swap | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Derivative asset, notional amount	$ 51,548	0
Strike	3.725%
Derivative asset, fair value, gross asset	$ 313	$ 0

LIMITED PARTNERS' NONCONTROLL_2

LIMITED PARTNERS' NONCONTROLLING INTERESTS IN THE PARENT COMPANY (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Noncontrolling Interest [Abstract]
Aggregate amount related to non-controlling interests classified within equity	$ 3.1	$ 4.1
Settlement value of non controlling interest in operating partnership	$ 2.9	$ 2.8

BENEFICIARIES' EQUITY OF THE _3

BENEFICIARIES' EQUITY OF THE PARENT COMPANY - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Numerator
Net income (loss)	$ (196,487)	$ (197,403)	$ 53,992
Net (income) loss attributable to noncontrolling interests, Basic	580	614	(168)
Net (income) loss attributable to noncontrolling interests, Diluted	580	614	(168)
Nonforfeitable dividends allocated to unvested restricted shareholders, Basic	(1,178)	(567)	(456)
Nonforfeitable dividends allocated to unvested restricted shareholders, Diluted	(1,178)	(567)	(456)
Net income (loss) attributable to common shareholders, Basic	(197,085)	(197,356)	53,368
Net income (loss) attributable to common shareholders, Diluted	$ (197,085)	$ (197,356)	$ 53,368
Denominator
Weighted average units outstanding, basic (in shares)	172,526,996	171,959,210	171,491,369
Contingent securities/Share based compensation (in shares)	0	0	834,277
Weighted average shares outstanding, diluted (in shares)	172,526,996	171,959,210	172,325,646
Earnings (loss) per Common Share:
Basic income (loss) per Common Share	$ (1.14)	$ (1.15)	$ 0.31
Net income (loss) attributable to common shareholders, Diluted (in dollars per share)	$ (1.14)	$ (1.15)	$ 0.31

BENEFICIARIES' EQUITY OF THE _4

BENEFICIARIES' EQUITY OF THE PARENT COMPANY - Narrative (Details) - USD ($)		3 Months Ended	12 Months Ended
	Jan. 23, 2025	Dec. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jan. 03, 2019
Class of Stock [Line Items]
Distributions declared (in dollars per share)		$ 0.15	$ 0.60	$ 0.68	$ 0.76
Authorized amount						$ 150,000,000
Repurchased and retired (in shares)			0	0
Preferred shares authorized (in shares)		20,000,000	20,000,000	20,000,000
Preferred shares outstanding (in shares)		0	0	0
Subsequent Event
Class of Stock [Line Items]
Dividends, common stock	$ 26,300,000
Redeemable Common Limited Partnership Units
Class of Stock [Line Items]
Redeemable common limited partnership units (in shares)			515,595	515,595	516,467

PARTNERS' EQUITY OF THE PAREN_3

PARTNERS' EQUITY OF THE PARENT COMPANY - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Numerator
Net income (loss)	$ (196,487)	$ (197,403)	$ 53,992
Nonforfeitable dividends allocated to unvested restricted shareholders, Basic	(1,178)	(567)	(456)
Nonforfeitable dividends allocated to unvested restricted shareholders, Diluted	(1,178)	(567)	(456)
Net income (loss) attributable to common shareholders, Basic	(197,085)	(197,356)	53,368
Net income (loss) attributable to common shareholders, Diluted	$ (197,085)	$ (197,356)	$ 53,368
Denominator
Weighted average units outstanding, basic (in shares)	172,526,996	171,959,210	171,491,369
Contingent securities/Share based compensation (in shares)	0	0	834,277
Weighted average shares outstanding, diluted (in shares)	172,526,996	171,959,210	172,325,646
Earnings (loss) per Common Partnership Unit:
Basic income (loss) per Common Share	$ (1.14)	$ (1.15)	$ 0.31
Net income (loss) attributable to common shareholders, Diluted (in dollars per share)	$ (1.14)	$ (1.15)	$ 0.31
BRANDYWINE OPERATING PARTNERSHIP, L.P.
Numerator
Net income (loss)	$ (196,487)	$ (197,403)	$ 53,992
Net (income) loss attributable to noncontrolling interests	(5)	22	2
Nonforfeitable dividends allocated to unvested restricted shareholders, Basic	(1,178)	(567)	(456)
Nonforfeitable dividends allocated to unvested restricted shareholders, Diluted	(1,178)	(567)	(456)
Net income (loss) attributable to common shareholders, Basic	(197,670)	(197,948)	53,538
Net income (loss) attributable to common shareholders, Diluted	$ (197,670)	$ (197,948)	$ 53,538
Denominator
Weighted average units outstanding, basic (in shares)	173,042,591	172,475,645	172,036,481
Contingent securities/Share based compensation (in shares)	0	0	834,277
Weighted average shares outstanding, diluted (in shares)	173,042,591	172,475,645	172,870,758
Earnings (loss) per Common Partnership Unit:
Basic income (loss) per Common Share	$ (1.14)	$ (1.15)	$ 0.31
Net income (loss) attributable to common shareholders, Diluted (in dollars per share)	$ (1.14)	$ (1.15)	$ 0.31

PARTNERS' EQUITY OF THE PAREN_4

PARTNERS' EQUITY OF THE PARENT COMPANY - Narrative (Details) $ / shares in Units, $ in Millions		3 Months Ended	12 Months Ended
	Jan. 23, 2025 USD ($)	Dec. 31, 2024 $ / shares shares	Dec. 31, 2024 class $ / shares shares	Dec. 31, 2023 $ / shares shares	Dec. 31, 2022 $ / shares shares
Earnings Per Common Partnership Unit [Line Items]
Number of classes of partnership units | class			2
Distributions declared (in dollars per share) | $ / shares		$ 0.15	$ 0.60	$ 0.68	$ 0.76
Repurchased and retired (in shares)			0	0
Subsequent Event
Earnings Per Common Partnership Unit [Line Items]
Amount of dividend declared | $	$ 26.3
Class A Units
Earnings Per Common Partnership Unit [Line Items]
Redeemable limited partnership unit price (in dollars per share) | $ / shares		$ 5.60	$ 5.60	$ 5.40	$ 6.15
Limited partners' capital account, units outstanding (in units)		515,595	515,595	515,595	516,467
BRANDYWINE OPERATING PARTNERSHIP, L.P.
Earnings Per Common Partnership Unit [Line Items]
Preferred units, outstanding (in units)		0	0	0
Distributions declared (in dollars per share) | $ / shares		$ 0.15
Repurchase program, number of mirror unit of operating partnership retired for each common share repurchased			1
BRANDYWINE OPERATING PARTNERSHIP, L.P. | Subsequent Event
Earnings Per Common Partnership Unit [Line Items]
Amount of dividend declared | $	$ 26.3

SHARE-BASED COMPENSATION, 401_3

SHARE-BASED COMPENSATION, 401(K) PLAN AND DEFERRED COMPENSATION - Narrative (Details)					12 Months Ended
	Feb. 26, 2024 installment shares	Feb. 01, 2024 shares	Feb. 16, 2023 shares	Feb. 01, 2023	Dec. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Jan. 18, 2024 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Defined contribution plan, maximum annual contribution per employee, percent					100%
Defined contribution plan, employer discretionary contribution amount | $					$ 900,000	$ 700,000	$ 400,000
Number of shares to be issued under deferred compensation plan included in total shares outstanding					1,200,000	1,200,000
Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted share units (in shares)					1,783,508	889,166
Unrecognized compensation expenses | $					$ 1,400,000
Weighted average period over which options will be recognized					1 year 25 days
Share-based compensation expense | $					$ 6,500,000	$ 4,700,000	4,500,000
Share-based compensation expense, capitalized | $					$ 900,000	500,000	700,000
Granted (in shares)	1,251,803				1,519,393
Accumulated service period for voluntary termination (in years)			15 years
Restricted Share Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)					1 year
Restricted Share Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)			3 years		3 years
Number of restricted share right will get settled for common share			1
Restricted Performance Share Units Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)				3 years	3 years
Unrecognized compensation expenses | $					$ 6,800,000
Weighted average period over which options will be recognized					1 year 4 months 24 days
Share-based compensation expense | $					$ 8,000,000	6,900,000	6,200,000
Share-based compensation expense, capitalized | $					$ 1,400,000	$ 900,000	$ 1,100,000
Number of vesting installments | installment	3
Accelerated vesting period (in years)			1 year
Award term					3 years
Share-based compensation activity (in shares)		164,461
Dividends paid (in dollars per share) | $ / shares								$ 0.15
Restricted Performance Share Units Plan | Executive Officers
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted share units (in shares)					1,861,097	1,570,211
Granted (in shares)					417,268
Performance earning potential (as percent)					275%	275%	275%
Outperformance feature measurement term (in years)					3 years
Additional vesting period (in days)					366 days
Restricted Performance Share Units Plan | Executive Officers | 2022 Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense | $					$ 2,100,000
Awards issuable under outperformance feature (in shares)							406,179
Restricted Performance Share Units Plan | Executive Officers | 2023 Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense | $					4,000,000
Awards issuable under outperformance feature (in shares)						925,642
Restricted Performance Share Units Plan | Executive Officers | A 2024 Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense | $					$ 0
Awards issuable under outperformance feature (in shares)					2,669,293
Restricted Performance Share Units Plan | Executive Officers | 2/26/2024 RSPU Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted share units (in shares)					375,968	0
Granted (in shares)					417,268
Total number of shares authorized for issuance (in shares)	1,251,803
Restricted Performance Share Units Plan | Non-Officer Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	142,320
Restricted Performance Share Units Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award percent					0%
Restricted Performance Share Units Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award percent					200%
Employee Share Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense | $					$ 100,000	$ 100,000	$ 20,000
Total number of shares authorized for issuance (in shares)					1,250,000
Share-based compensation, percentage of closing price					85%
Maximum participant contribution, percentage of compensation					20%
Maximum participant contribution, dollar amount | $					$ 50,000
Stock issued during period, value, employee stock purchase plan | $					$ 400,000	$ 400,000	$ 600,000
Share-based compensation arrangement by share-based payment award, discount from market price, purchase					15%

SHARE-BASED COMPENSATION, 401_4

SHARE-BASED COMPENSATION, 401(K) PLAN AND DEFERRED COMPENSATION - Schedule of Company's Restricted Share Activity (Details) - Restricted Share Units - $ / shares		12 Months Ended
	Feb. 26, 2024	Dec. 31, 2024
Shares
Beginning balance (in shares)		889,166
Granted (in shares)	1,251,803	1,519,393
Vested (in shares)		(542,196)
Forfeited (in shares)		(82,855)
Ending balance (in shares)		1,783,508
Weighted Average Grant Date Fair Value
Non-vested, beginning balance (in dollars per share)		$ 8.79
Granted (in dollars per share)		4.15
Vested (in dollars per share)		8.33
Forfeited (in dollars per share)		5.41
Non-vested, ending balance (in dollars per share)		$ 5.13

SHARE-BASED COMPENSATION, 401_5

SHARE-BASED COMPENSATION, 401(K) PLAN AND DEFERRED COMPENSATION - Schedule of Restricted Performance Share Units Plan (Details) - Executive Officers - Restricted Performance Share Units Plan - USD ($) $ in Thousands				12 Months Ended
	Feb. 26, 2024	Feb. 16, 2023	Mar. 03, 2022	Dec. 31, 2024
Shares
Beginning balance (in shares)				1,570,211
Granted (in shares)				417,268
Units Vested (in shares)				(29,361)
Units Cancelled (in shares)				(97,021)
Ending balance (in shares)				1,861,097
3/3/2022 RSPU Grant
Shares
Beginning balance (in shares)				513,038
Granted (in shares)				0
Units Vested (in shares)				(9,877)
Units Cancelled (in shares)				(17,919)
Ending balance (in shares)				485,242
Awarded (in shares)			516,852
Fair Value of Units on Grant Date			$ 6,872
2/16/2023 RSPU Grant Date
Shares
Beginning balance (in shares)				1,057,173
Granted (in shares)				0
Units Vested (in shares)				(19,484)
Units Cancelled (in shares)				(37,802)
Ending balance (in shares)				999,887
Awarded (in shares)		1,057,173
Fair Value of Units on Grant Date		$ 7,125
2/26/2024 RSPU Grant
Shares
Beginning balance (in shares)				0
Granted (in shares)				417,268
Units Vested (in shares)				0
Units Cancelled (in shares)				(41,300)
Ending balance (in shares)				375,968
Awarded (in shares)	1,251,803
Fair Value of Units on Grant Date	$ 5,145

DISTRIBUTIONS (Details)

DISTRIBUTIONS (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Common Share Distributions:
Ordinary income (in usd per share)	$ 0.23	$ 0.39	$ 0.47
Capital gain (in usd per share)	0.03	0.03	0.29
Non-taxable distributions (in usd per share)	0.34	0.30	0
Distributions per share (in usd per share)	$ 0.60	$ 0.72	$ 0.76
Percentage classified as ordinary income	38.60%	54.40%	62.10%
Percentage classified as capital gain	4.90%	4%	37.90%
Percentage classified as non-taxable distribution	56.50%	41.60%	0%

INCOME TAXES AND TAX CREDIT T_2

INCOME TAXES AND TAX CREDIT TRANSACTIONS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Deferred tax assets	$ 0	$ 0
Accruals for tax uncertainties	0	0
Deferred income tax expense	0	0	$ 0
Current income tax expense (benefit)	$ 0	$ 0	$ 0

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		$ 1,324,157	$ 1,633,334	$ 1,701,219
Change in fair market value during year		3,200	(4,579)	5,371
Allocation of unrealized (gains)/losses on derivative financial instruments to noncontrolling interests		(11)	14	(18)
Amortization of interest rate contracts reclassified from comprehensive income to interest expense	[1]	0	0	564
Ending balance		1,044,587	1,324,157	1,633,334
Operating Partnership
Change in fair market value during year		3,200	(4,579)	5,371
Amortization of interest rate contracts reclassified from comprehensive income to interest expense	[1]	0	0	564
BRANDYWINE OPERATING PARTNERSHIP, L.P.
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Change in fair market value during year		3,200	(4,579)	5,371
Amortization of interest rate contracts reclassified from comprehensive income to interest expense	[1]	0	0	564
Operating Partnership
Beginning balance		1,321,372	1,630,139	1,690,079
Change in fair market value during year		3,200	(4,579)	5,371
Amortization of interest rate contracts reclassified from comprehensive income to interest expense	[1]	0	0	564
Ending balance		1,041,717	1,321,372	1,630,139
Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		(668)	3,897	(2,020)
Ending balance		2,521	(668)	3,897
Accumulated Other Comprehensive Income (Loss) | BRANDYWINE OPERATING PARTNERSHIP, L.P.
Operating Partnership
Beginning balance		(1,010)	3,569	(2,366)
Ending balance		$ 2,190	$ (1,010)	$ 3,569
[1] Amounts reclassified from comprehensive income to interest expense within the Consolidated Statements of Operations.

SEGMENT INFORMATION - Narrative

SEGMENT INFORMATION - Narrative (Details)	12 Months Ended
	Dec. 31, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	4

SEGMENT INFORMATION - Real Esta

SEGMENT INFORMATION - Real Estate Investments, at Cost of Company's Reportable Segments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Operating properties	$ 3,374,780	$ 3,542,232	$ 3,617,240
Right of use asset - operating leases, net	18,412	19,031
Construction-in-progress	94,628	135,529
Land held for development	81,318	82,510
Prepaid leasehold interests in land held for development, net	27,762	27,762
Total Core Segments | Continuing Operations
Segment Reporting Information [Line Items]
Operating properties	3,097,025	3,237,096
Philadelphia CBD | Continuing Operations
Segment Reporting Information [Line Items]
Operating properties	1,556,696	1,534,893
Pennsylvania Suburbs | Continuing Operations
Segment Reporting Information [Line Items]
Operating properties	869,179	900,230
Austin, Texas | Continuing Operations
Segment Reporting Information [Line Items]
Operating properties	671,150	801,973
Other
Segment Reporting Information [Line Items]
Operating properties	$ 277,755	$ 305,136

SEGMENT INFORMATION - Net Opera

SEGMENT INFORMATION - Net Operating Income of Company's Reportable Segments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total revenue	$ 505,517	$ 514,651	$ 506,100
Operating expenses	(187,330)	(189,947)	(194,401)
Net operating income	318,187	324,704	311,699
Operating Segments | Philadelphia CBD
Segment Reporting Information [Line Items]
Total revenue	225,986	230,933	220,875
Operating expenses	(81,061)	(79,579)	(79,827)
Net operating income	144,925	151,354	141,048
Operating Segments | Pennsylvania Suburbs
Segment Reporting Information [Line Items]
Total revenue	125,011	129,300	128,940
Operating expenses	(38,822)	(39,584)	(41,814)
Net operating income	86,189	89,716	87,126
Operating Segments | Austin, Texas
Segment Reporting Information [Line Items]
Total revenue	87,208	95,505	96,329
Operating expenses	(34,033)	(38,453)	(41,141)
Net operating income	53,175	57,052	55,188
Operating Segments | Other
Segment Reporting Information [Line Items]
Total revenue	42,139	39,306	36,610
Operating expenses	(20,698)	(21,134)	(21,165)
Net operating income	21,441	18,172	15,445
Corporate
Segment Reporting Information [Line Items]
Total revenue	25,173	19,607	23,346
Operating expenses	(12,716)	(11,197)	(10,454)
Net operating income	$ 12,457	$ 8,410	$ 12,892

SEGMENT INFORMATION - Unconsoli

SEGMENT INFORMATION - Unconsolidated Real Estate Ventures of Company's Reportable Segments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Investment in real estate ventures, at equity	$ 570,455	$ 552,494
Equity in income (loss) of real estate venture	(191,585)	(77,915)	$ (22,016)
Philadelphia CBD
Segment Reporting Information [Line Items]
Investment in real estate ventures, at equity	452,334	450,136
Equity in income (loss) of real estate venture	(155,567)	(25,793)	(11,764)
Mid-Atlantic Office JV
Segment Reporting Information [Line Items]
Investment in real estate ventures, at equity	10,844	0
Equity in income (loss) of real estate venture	7,141	(26,448)	412
MAP Venture
Segment Reporting Information [Line Items]
Investment in real estate ventures, at equity	0	(48,733)
Equity in income (loss) of real estate venture	(6,542)	(10,581)	(8,340)
Austin, Texas
Segment Reporting Information [Line Items]
Investment in real estate ventures, at equity	90,495	79,160
Equity in income (loss) of real estate venture	(4,001)	0	0
Other
Segment Reporting Information [Line Items]
Investment in real estate ventures, at equity	16,782	71,931
Equity in income (loss) of real estate venture	$ (32,616)	$ (15,093)	$ (2,324)

SEGMENT INFORMATION - Reconcili

SEGMENT INFORMATION - Reconciliation of Consolidated Net Income to Consolidated NOI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting [Abstract]
Net income (loss)	$ (196,487)	$ (197,403)	$ 53,992
Plus:
Interest expense	116,306	95,456	68,764
Interest expense - amortization of deferred financing costs	5,000	4,369	3,091
Depreciation and amortization	178,168	188,797	177,984
General and administrative expenses	42,781	34,862	35,006
Equity in loss of unconsolidated real estate ventures	191,585	77,915	22,016
Provision for impairment	44,655	131,573	4,663
Gain (loss) on early extinguishment of debt	(941)	(138)	435
Less:
Interest and investment income	3,847	1,671	1,905
Income tax provision	(14)	(72)	(55)
Net gain on disposition of real estate	2,297	7,736	17,677
Net gain on sale of undepreciated real estate	0	1,211	8,007
Net gain on real estate venture transactions	56,750	181	26,718
Net operating income	$ 318,187	$ 324,704	$ 311,699

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)		12 Months Ended
	Oct. 21, 2020 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2024 USD ($)	Jun. 30, 2024 USD ($)	Jun. 28, 2024 USD ($)	Dec. 31, 2023 USD ($)	Jul. 14, 2022 USD ($)	Jul. 23, 2021 USD ($)	Feb. 02, 2021 USD ($)	Sep. 30, 2004 ft²
Property Subject to or Available for Operating Lease [Line Items]
Real estate ventures aggregate indebtedness			$ 757,021,000			$ 1,412,758,000
Investment in real estate ventures, at equity			570,455,000			552,494,000
Drexel Square
Property Subject to or Available for Operating Lease [Line Items]
Other commitments			5,200,000
Estimated potential additional contribution obligation			2,000,000
Natural Disasters and Other Casualty Events
Property Subject to or Available for Operating Lease [Line Items]
Restoration liability		$ 800,000
Insurance proceeds		$ 2,800,000
Preferred Equity Investment Obligation
Property Subject to or Available for Operating Lease [Line Items]
Other commitments			15,000,000
Contractual obligation, amount of funded commitment			2,700,000
3151 Market Street
Property Subject to or Available for Operating Lease [Line Items]
Investment in real estate ventures, at equity			316,900,000				$ 317,000,000
3151 Market Street | Scenario, Plan
Property Subject to or Available for Operating Lease [Line Items]
Debt instrument, face amount			$ 174,300,000
Real estate investment, loan to value ratio			55%
Affiliated Entity | 3025 JFK Boulevard
Property Subject to or Available for Operating Lease [Line Items]
Construction loan amount								$ 186,700,000
3025 JFK Boulevard
Property Subject to or Available for Operating Lease [Line Items]
Limited payment guarantee, percent of principle balance (up to)								25%
Investment in real estate ventures, at equity									$ 34,800,000
One Uptown Venture | Carry Guarantee
Property Subject to or Available for Operating Lease [Line Items]
Limited payment guarantee, percent of principle balance (up to)								30%
Construction loan amount								$ 121,700,000
One Uptown Venture | Payment Guarantee
Property Subject to or Available for Operating Lease [Line Items]
Limited payment guarantee, percent of principle balance (up to)								15%
Construction loan amount								$ 85,000,000
Unconsolidated Real Estate Ventures
Property Subject to or Available for Operating Lease [Line Items]
Real estate ventures aggregate indebtedness			$ 757,000,000
MAP Venture
Property Subject to or Available for Operating Lease [Line Items]
Real estate ventures aggregate indebtedness			$ 0			$ 179,842,000
Investment in real estate ventures, at equity				$ 0	$ 0
MAP Venture | Fixed rate debt
Property Subject to or Available for Operating Lease [Line Items]
Debt instrument, interest rate, stated percentage			8%		8%
MAP Venture | Additional Funding For Tenant And Capital Improvement Of Properties
Property Subject to or Available for Operating Lease [Line Items]
Other commitment			$ 12,000,000		$ 12,000,000
Two Logan Square
Property Subject to or Available for Operating Lease [Line Items]
Rentable area (in square feet) | ft²										708,844
Settlement liabilities			$ 600,000
Two Logan Square | Fixed rate debt
Property Subject to or Available for Operating Lease [Line Items]
Repayments of long-term debt	$ 79,800,000

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Details) - Allowance for Doubtful Accounts - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Allowance for doubtful accounts:
Balance at Beginning of Year	$ 2,672	$ 3,947	$ 4,133
Additions	0	0	0
Deductions	1,763	1,275	186
Balance at End of Year	$ 909	$ 2,672	$ 3,947

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Initial Cost
Encumbrances	$ 277,734
Land	316,862
Buildings and Improvements	2,360,780
Net Improvements (Retirements) Since Acquisition	697,019
Gross Amount Which Carried
Land	350,773
Buildings and Improvements	3,012,919
Total	3,374,780	$ 3,542,232	$ 3,617,240	$ 3,472,602
Accumulated Depreciation at December 31, 2024	1,171,803	$ 1,131,792	$ 1,063,060	$ 957,450
PENNSYLVANIA SUBURBS | Six Tower Bridge (181 Washington Street)
Initial Cost
Encumbrances	0
Land	6,927
Buildings and Improvements	14,722
Net Improvements (Retirements) Since Acquisition	1,329
Gross Amount Which Carried
Land	6,236
Buildings and Improvements	16,742
Total	22,978
Accumulated Depreciation at December 31, 2024	5,718
PENNSYLVANIA SUBURBS | 426 Lancaster Avenue
Initial Cost
Encumbrances	0
Land	1,689
Buildings and Improvements	6,756
Net Improvements (Retirements) Since Acquisition	9,405
Gross Amount Which Carried
Land	1,686
Buildings and Improvements	16,164
Total	17,850
Accumulated Depreciation at December 31, 2024	4,954
PENNSYLVANIA SUBURBS | 640 Freedom Business Center
Initial Cost
Encumbrances	0
Land	1,015
Buildings and Improvements	20,098
Net Improvements (Retirements) Since Acquisition	5,404
Gross Amount Which Carried
Land	278
Buildings and Improvements	26,239
Total	26,517
Accumulated Depreciation at December 31, 2024	18,254
PENNSYLVANIA SUBURBS | 620 Freedom Business Center
Initial Cost
Encumbrances	0
Land	666
Buildings and Improvements	13,118
Net Improvements (Retirements) Since Acquisition	2,804
Gross Amount Which Carried
Land	181
Buildings and Improvements	16,407
Total	16,588
Accumulated Depreciation at December 31, 2024	11,175
PENNSYLVANIA SUBURBS | 1000 First Avenue
Initial Cost
Encumbrances	0
Land	0
Buildings and Improvements	13,708
Net Improvements (Retirements) Since Acquisition	3,093
Gross Amount Which Carried
Land	0
Buildings and Improvements	16,801
Total	16,801
Accumulated Depreciation at December 31, 2024	13,161
PENNSYLVANIA SUBURBS | 1060 First Avenue
Initial Cost
Encumbrances	0
Land	0
Buildings and Improvements	13,665
Net Improvements (Retirements) Since Acquisition	3,851
Gross Amount Which Carried
Land	0
Buildings and Improvements	17,516
Total	17,516
Accumulated Depreciation at December 31, 2024	14,273
PENNSYLVANIA SUBURBS | 630 Freedom Business Center Drive
Initial Cost
Encumbrances	0
Land	666
Buildings and Improvements	13,251
Net Improvements (Retirements) Since Acquisition	3,256
Gross Amount Which Carried
Land	183
Buildings and Improvements	16,990
Total	17,173
Accumulated Depreciation at December 31, 2024	12,119
PENNSYLVANIA SUBURBS | 1020 First Avenue
Initial Cost
Encumbrances	0
Land	0
Buildings and Improvements	10,744
Net Improvements (Retirements) Since Acquisition	4,038
Gross Amount Which Carried
Land	0
Buildings and Improvements	14,782
Total	14,782
Accumulated Depreciation at December 31, 2024	11,908
PENNSYLVANIA SUBURBS | 1040 First Avenue
Initial Cost
Encumbrances	0
Land	0
Buildings and Improvements	14,142
Net Improvements (Retirements) Since Acquisition	4,870
Gross Amount Which Carried
Land	0
Buildings and Improvements	19,012
Total	19,012
Accumulated Depreciation at December 31, 2024	15,592
PENNSYLVANIA SUBURBS | 610 Freedom Business Center Drive
Initial Cost
Encumbrances	0
Land	485
Buildings and Improvements	9,602
Net Improvements (Retirements) Since Acquisition	1,688
Gross Amount Which Carried
Land	133
Buildings and Improvements	11,642
Total	11,775
Accumulated Depreciation at December 31, 2024	8,553
PENNSYLVANIA SUBURBS | 650 Park Avenue
Initial Cost
Encumbrances	0
Land	1,916
Buildings and Improvements	4,378
Net Improvements (Retirements) Since Acquisition	(4,378)
Gross Amount Which Carried
Land	1,916
Buildings and Improvements	0
Total	1,916
Accumulated Depreciation at December 31, 2024	0
PENNSYLVANIA SUBURBS | 600 Park Avenue
Initial Cost
Encumbrances	0
Land	1,012
Buildings and Improvements	4,048
Net Improvements (Retirements) Since Acquisition	0
Gross Amount Which Carried
Land	1,012
Buildings and Improvements	4,048
Total	5,060
Accumulated Depreciation at December 31, 2024	2,800
PENNSYLVANIA SUBURBS | 933 First Avenue
Initial Cost
Encumbrances	15,960
Land	3,127
Buildings and Improvements	20,794
Net Improvements (Retirements) Since Acquisition	(1,125)
Gross Amount Which Carried
Land	3,127
Buildings and Improvements	19,669
Total	22,796
Accumulated Depreciation at December 31, 2024	6,561
PENNSYLVANIA SUBURBS | 500 North Gulph Road
Initial Cost
Encumbrances	16,121
Land	1,303
Buildings and Improvements	5,201
Net Improvements (Retirements) Since Acquisition	22,039
Gross Amount Which Carried
Land	1,303
Buildings and Improvements	27,240
Total	28,543
Accumulated Depreciation at December 31, 2024	6,941
PENNSYLVANIA SUBURBS | 401 Plymouth Road
Initial Cost
Encumbrances	0
Land	6,199
Buildings and Improvements	16,131
Net Improvements (Retirements) Since Acquisition	16,500
Gross Amount Which Carried
Land	6,198
Buildings and Improvements	32,632
Total	38,830
Accumulated Depreciation at December 31, 2024	17,624
PENNSYLVANIA SUBURBS | Metroplex (4000 Chemical Road)
Initial Cost
Encumbrances	16,055
Land	4,373
Buildings and Improvements	24,546
Net Improvements (Retirements) Since Acquisition	5,554
Gross Amount Which Carried
Land	4,373
Buildings and Improvements	30,100
Total	34,473
Accumulated Depreciation at December 31, 2024	12,291
PENNSYLVANIA SUBURBS | Metroplex II
Initial Cost
Encumbrances	0
Land	0
Buildings and Improvements	0
Net Improvements (Retirements) Since Acquisition	569
Gross Amount Which Carried
Land	0
Buildings and Improvements	569
Total	569
Accumulated Depreciation at December 31, 2024	44
PENNSYLVANIA SUBURBS | Metroplex III
Initial Cost
Encumbrances	0
Land	0
Buildings and Improvements	0
Net Improvements (Retirements) Since Acquisition	317
Gross Amount Which Carried
Land	0
Buildings and Improvements	317
Total	317
Accumulated Depreciation at December 31, 2024	25
PENNSYLVANIA SUBURBS | 351 Plymouth Road
Initial Cost
Encumbrances	0
Land	1,043
Buildings and Improvements	555
Net Improvements (Retirements) Since Acquisition	0
Gross Amount Which Carried
Land	1,043
Buildings and Improvements	555
Total	1,598
Accumulated Depreciation at December 31, 2024	274
PENNSYLVANIA SUBURBS | 150 Radnor Chester Road
Initial Cost
Encumbrances	0
Land	11,925
Buildings and Improvements	36,986
Net Improvements (Retirements) Since Acquisition	21,369
Gross Amount Which Carried
Land	11,897
Buildings and Improvements	58,383
Total	70,280
Accumulated Depreciation at December 31, 2024	32,006
PENNSYLVANIA SUBURBS | One Radnor Corporate Center
Initial Cost
Encumbrances	0
Land	7,323
Buildings and Improvements	28,613
Net Improvements (Retirements) Since Acquisition	3,694
Gross Amount Which Carried
Land	7,323
Buildings and Improvements	32,307
Total	39,630
Accumulated Depreciation at December 31, 2024	20,198
PENNSYLVANIA SUBURBS | 201 King of Prussia Road
Initial Cost
Encumbrances	0
Land	8,956
Buildings and Improvements	29,811
Net Improvements (Retirements) Since Acquisition	8,481
Gross Amount Which Carried
Land	8,949
Buildings and Improvements	38,331
Total	47,280
Accumulated Depreciation at December 31, 2024	26,302
PENNSYLVANIA SUBURBS | 555 Lancaster Avenue
Initial Cost
Encumbrances	0
Land	8,014
Buildings and Improvements	16,508
Net Improvements (Retirements) Since Acquisition	13,005
Gross Amount Which Carried
Land	8,609
Buildings and Improvements	28,918
Total	37,527
Accumulated Depreciation at December 31, 2024	12,138
PENNSYLVANIA SUBURBS | Four Radnor Corporate Center
Initial Cost
Encumbrances	0
Land	5,406
Buildings and Improvements	21,390
Net Improvements (Retirements) Since Acquisition	8,096
Gross Amount Which Carried
Land	5,705
Buildings and Improvements	29,187
Total	34,892
Accumulated Depreciation at December 31, 2024	17,614
PENNSYLVANIA SUBURBS | Five Radnor Corporate Center
Initial Cost
Encumbrances	0
Land	6,506
Buildings and Improvements	25,525
Net Improvements (Retirements) Since Acquisition	9,361
Gross Amount Which Carried
Land	6,578
Buildings and Improvements	34,814
Total	41,392
Accumulated Depreciation at December 31, 2024	18,632
PENNSYLVANIA SUBURBS | Three Radnor Corporate Center
Initial Cost
Encumbrances	0
Land	4,773
Buildings and Improvements	17,961
Net Improvements (Retirements) Since Acquisition	2,621
Gross Amount Which Carried
Land	4,791
Buildings and Improvements	20,564
Total	25,355
Accumulated Depreciation at December 31, 2024	13,449
PENNSYLVANIA SUBURBS | Two Radnor Corporate Center
Initial Cost
Encumbrances	0
Land	3,937
Buildings and Improvements	15,484
Net Improvements (Retirements) Since Acquisition	5,469
Gross Amount Which Carried
Land	3,942
Buildings and Improvements	20,948
Total	24,890
Accumulated Depreciation at December 31, 2024	10,943
PENNSYLVANIA SUBURBS | 130 Radnor Chester Road
Initial Cost
Encumbrances	0
Land	2,573
Buildings and Improvements	8,338
Net Improvements (Retirements) Since Acquisition	141
Gross Amount Which Carried
Land	2,567
Buildings and Improvements	8,485
Total	11,052
Accumulated Depreciation at December 31, 2024	4,562
PENNSYLVANIA SUBURBS | 170 Radnor Chester Road
Initial Cost
Encumbrances	0
Land	2,514
Buildings and Improvements	8,147
Net Improvements (Retirements) Since Acquisition	1,840
Gross Amount Which Carried
Land	2,509
Buildings and Improvements	9,992
Total	12,501
Accumulated Depreciation at December 31, 2024	5,586
PENNSYLVANIA SUBURBS | 155 King of Prussia Road
Initial Cost
Encumbrances	32,734
Land	0
Buildings and Improvements	0
Net Improvements (Retirements) Since Acquisition	62,181
Gross Amount Which Carried
Land	11,432
Buildings and Improvements	50,749
Total	62,181
Accumulated Depreciation at December 31, 2024	261
PENNSYLVANIA SUBURBS | 250 King of Prussia Road
Initial Cost
Encumbrances	0
Land	0
Buildings and Improvements	20,566
Net Improvements (Retirements) Since Acquisition	65,333
Gross Amount Which Carried
Land	112
Buildings and Improvements	74,699
Total	85,899
Accumulated Depreciation at December 31, 2024	10,336
PENNSYLVANIA SUBURBS | 101 West Elm Street
Initial Cost
Encumbrances	0
Land	6,251
Buildings and Improvements	25,209
Net Improvements (Retirements) Since Acquisition	2,803
Gross Amount Which Carried
Land	6,251
Buildings and Improvements	28,012
Total	34,263
Accumulated Depreciation at December 31, 2024	13,188
PENNSYLVANIA SUBURBS | 1 West Elm Street
Initial Cost
Encumbrances	0
Land	3,557
Buildings and Improvements	14,249
Net Improvements (Retirements) Since Acquisition	9,139
Gross Amount Which Carried
Land	3,557
Buildings and Improvements	23,388
Total	26,945
Accumulated Depreciation at December 31, 2024	9,538
PHILADELPHIA CBD | Cira Centre (2929 Arch Street)
Initial Cost
Encumbrances	0
Land	0
Buildings and Improvements	208,570
Net Improvements (Retirements) Since Acquisition	41,639
Gross Amount Which Carried
Land	12,586
Buildings and Improvements	237,623
Total	250,209
Accumulated Depreciation at December 31, 2024	91,875
PHILADELPHIA CBD | Three Logan Square (1717 Arch Street)
Initial Cost
Encumbrances	0
Land	0
Buildings and Improvements	98,188
Net Improvements (Retirements) Since Acquisition	79,064
Gross Amount Which Carried
Land	25,195
Buildings and Improvements	152,057
Total	177,252
Accumulated Depreciation at December 31, 2024	66,346
PHILADELPHIA CBD | One Logan Square (130 North 18th Street)
Initial Cost
Encumbrances	0
Land	14,496
Buildings and Improvements	107,736
Net Improvements (Retirements) Since Acquisition	34,812
Gross Amount Which Carried
Land	14,473
Buildings and Improvements	142,658
Total	157,131
Accumulated Depreciation at December 31, 2024	80,055
PHILADELPHIA CBD | Two Logan Square (100 North 18th Street)
Initial Cost
Encumbrances	0
Land	16,066
Buildings and Improvements	100,255
Net Improvements (Retirements) Since Acquisition	33,863
Gross Amount Which Carried
Land	16,066
Buildings and Improvements	134,118
Total	150,184
Accumulated Depreciation at December 31, 2024	71,429
PHILADELPHIA CBD | Cira Centre South Garage (129 South 30th Street)
Initial Cost
Encumbrances	0
Land	0
Buildings and Improvements	76,008
Net Improvements (Retirements) Since Acquisition	26,733
Gross Amount Which Carried
Land	6,460
Buildings and Improvements	96,281
Total	102,741
Accumulated Depreciation at December 31, 2024	33,158
PHILADELPHIA CBD | 1900 Market Street
Initial Cost
Encumbrances	61,703
Land	7,768
Buildings and Improvements	17,263
Net Improvements (Retirements) Since Acquisition	58,709
Gross Amount Which Carried
Land	7,768
Buildings and Improvements	75,972
Total	83,740
Accumulated Depreciation at December 31, 2024	38,077
PHILADELPHIA CBD | 3020 Market Street
Initial Cost
Encumbrances	0
Land	0
Buildings and Improvements	21,417
Net Improvements (Retirements) Since Acquisition	5,965
Gross Amount Which Carried
Land	0
Buildings and Improvements	27,382
Total	27,382
Accumulated Depreciation at December 31, 2024	14,548
PHILADELPHIA CBD | 618-634 Market Street
Initial Cost
Encumbrances	0
Land	13,365
Buildings and Improvements	5,791
Net Improvements (Retirements) Since Acquisition	5,084
Gross Amount Which Carried
Land	13,365
Buildings and Improvements	10,875
Total	24,240
Accumulated Depreciation at December 31, 2024	7,864
PHILADELPHIA CBD | FMC Tower at Cira Centre South (2929 Walnut Street)
Initial Cost
Encumbrances	0
Land	0
Buildings and Improvements	400,294
Net Improvements (Retirements) Since Acquisition	11,406
Gross Amount Which Carried
Land	0
Buildings and Improvements	411,700
Total	411,700
Accumulated Depreciation at December 31, 2024	115,823
PHILADELPHIA CBD | 2100 Market Street
Initial Cost
Encumbrances	0
Land	18,827
Buildings and Improvements	0
Net Improvements (Retirements) Since Acquisition	6,312
Gross Amount Which Carried
Land	18,854
Buildings and Improvements	6,285
Total	25,139
Accumulated Depreciation at December 31, 2024	3,147
PHILADELPHIA CBD | 1505-11 Race Street
Initial Cost
Encumbrances	0
Land	3,662
Buildings and Improvements	6,061
Net Improvements (Retirements) Since Acquisition	8
Gross Amount Which Carried
Land	3,670
Buildings and Improvements	6,061
Total	9,731
Accumulated Depreciation at December 31, 2024	631
PHILADELPHIA CBD | 3000 Market Street
Initial Cost
Encumbrances	0
Land	18,924
Buildings and Improvements	13,080
Net Improvements (Retirements) Since Acquisition	17,349
Gross Amount Which Carried
Land	18,924
Buildings and Improvements	30,429
Total	49,353
Accumulated Depreciation at December 31, 2024	6,869
PHILADELPHIA CBD | The Bulletin Building (3025 Market Street)
Initial Cost
Encumbrances	49,429
Land	0
Buildings and Improvements	24,377
Net Improvements (Retirements) Since Acquisition	44,435
Gross Amount Which Carried
Land	0
Buildings and Improvements	68,812
Total	68,812
Accumulated Depreciation at December 31, 2024	18,669
PHILADELPHIA CBD | 3001-3003 JFK Boulevard
Initial Cost
Encumbrances	0
Land	0
Buildings and Improvements	0
Net Improvements (Retirements) Since Acquisition	294
Gross Amount Which Carried
Land	0
Buildings and Improvements	294
Total	294
Accumulated Depreciation at December 31, 2024	64
PHILADELPHIA CBD | The Lift at Juniper Street
Initial Cost
Encumbrances	0
Land	0
Buildings and Improvements	0
Net Improvements (Retirements) Since Acquisition	18,789
Gross Amount Which Carried
Land	478
Buildings and Improvements	18,311
Total	18,789
Accumulated Depreciation at December 31, 2024	64
Austin | 401-405 Colorado Street
Initial Cost
Encumbrances	62,688
Land	0
Buildings and Improvements	112,678
Net Improvements (Retirements) Since Acquisition	564
Gross Amount Which Carried
Land	0
Buildings and Improvements	113,242
Total	113,242
Accumulated Depreciation at December 31, 2024	9,944
Austin | 11501 Burnet Road - Building 1
Initial Cost
Encumbrances	0
Land	3,755
Buildings and Improvements	22,702
Net Improvements (Retirements) Since Acquisition	4
Gross Amount Which Carried
Land	3,755
Buildings and Improvements	22,706
Total	26,461
Accumulated Depreciation at December 31, 2024	14,502
Austin | 11501 Burnet Road - Building 2
Initial Cost
Encumbrances	0
Land	2,732
Buildings and Improvements	16,305
Net Improvements (Retirements) Since Acquisition	733
Gross Amount Which Carried
Land	2,732
Buildings and Improvements	17,038
Total	19,770
Accumulated Depreciation at December 31, 2024	11,085
Austin | 11501 Burnet Road - Building 3
Initial Cost
Encumbrances	0
Land	3,688
Buildings and Improvements	22,348
Net Improvements (Retirements) Since Acquisition	7,118
Gross Amount Which Carried
Land	3,688
Buildings and Improvements	29,466
Total	33,154
Accumulated Depreciation at December 31, 2024	18,002
Austin | 11501 Burnet Road - Building 4
Initial Cost
Encumbrances	0
Land	2,614
Buildings and Improvements	15,740
Net Improvements (Retirements) Since Acquisition	3
Gross Amount Which Carried
Land	2,614
Buildings and Improvements	15,743
Total	18,357
Accumulated Depreciation at December 31, 2024	10,055
Austin | 11501 Burnet Road - Building 5
Initial Cost
Encumbrances	0
Land	3,689
Buildings and Improvements	22,354
Net Improvements (Retirements) Since Acquisition	4
Gross Amount Which Carried
Land	3,689
Buildings and Improvements	22,358
Total	26,047
Accumulated Depreciation at December 31, 2024	14,281
Austin | 11501 Burnet Road - Building 6
Initial Cost
Encumbrances	0
Land	2,676
Buildings and Improvements	15,972
Net Improvements (Retirements) Since Acquisition	13,842
Gross Amount Which Carried
Land	2,676
Buildings and Improvements	29,814
Total	32,490
Accumulated Depreciation at December 31, 2024	19,914
Austin | 11501 Burnet Road - Building 8
Initial Cost
Encumbrances	0
Land	1,400
Buildings and Improvements	7,422
Net Improvements (Retirements) Since Acquisition	1,776
Gross Amount Which Carried
Land	1,400
Buildings and Improvements	9,198
Total	10,598
Accumulated Depreciation at December 31, 2024	5,888
Austin | 11501 Burnet Road - Parking Garage
Initial Cost
Encumbrances	0
Land	0
Buildings and Improvements	19,826
Net Improvements (Retirements) Since Acquisition	1,588
Gross Amount Which Carried
Land	0
Buildings and Improvements	21,414
Total	21,414
Accumulated Depreciation at December 31, 2024	13,989
Austin | Four Points Centre 3 (11120 Four Points Drive)
Initial Cost
Encumbrances	23,044
Land	1,140
Buildings and Improvements	0
Net Improvements (Retirements) Since Acquisition	40,322
Gross Amount Which Carried
Land	1,141
Buildings and Improvements	40,321
Total	41,462
Accumulated Depreciation at December 31, 2024	10,423
Austin | Four Barton Skyway (1301 South MoPac Expressway)
Initial Cost
Encumbrances	0
Land	13,301
Buildings and Improvements	57,041
Net Improvements (Retirements) Since Acquisition	7,906
Gross Amount Which Carried
Land	13,300
Buildings and Improvements	64,948
Total	78,248
Accumulated Depreciation at December 31, 2024	11,742
Austin | Four Points Centre (11305 Four Points Drive)
Initial Cost
Encumbrances	0
Land	7,800
Buildings and Improvements	43,581
Net Improvements (Retirements) Since Acquisition	4,160
Gross Amount Which Carried
Land	7,800
Buildings and Improvements	47,741
Total	55,541
Accumulated Depreciation at December 31, 2024	9,392
Austin | River Place - Building 1 (6500 River Place Boulevard)
Initial Cost
Encumbrances	0
Land	2,004
Buildings and Improvements	17,680
Net Improvements (Retirements) Since Acquisition	475
Gross Amount Which Carried
Land	2,004
Buildings and Improvements	18,155
Total	20,159
Accumulated Depreciation at December 31, 2024	2,915
Austin | River Place - Building 2 (6500 River Place Boulevard)
Initial Cost
Encumbrances	0
Land	3,137
Buildings and Improvements	29,254
Net Improvements (Retirements) Since Acquisition	1,523
Gross Amount Which Carried
Land	3,137
Buildings and Improvements	30,777
Total	33,914
Accumulated Depreciation at December 31, 2024	5,084
Austin | River Place - Building 3 (6500 River Place Boulevard)
Initial Cost
Encumbrances	0
Land	3,064
Buildings and Improvements	26,705
Net Improvements (Retirements) Since Acquisition	1,204
Gross Amount Which Carried
Land	3,064
Buildings and Improvements	27,909
Total	30,973
Accumulated Depreciation at December 31, 2024	4,610
Austin | River Place - Building 4 (6500 River Place Boulevard
Initial Cost
Encumbrances	0
Land	2,273
Buildings and Improvements	18,617
Net Improvements (Retirements) Since Acquisition	1,119
Gross Amount Which Carried
Land	2,273
Buildings and Improvements	19,736
Total	22,009
Accumulated Depreciation at December 31, 2024	3,355
Austin | River Place - Building 5 (6500 River Place Boulevard)
Initial Cost
Encumbrances	0
Land	1,752
Buildings and Improvements	14,315
Net Improvements (Retirements) Since Acquisition	720
Gross Amount Which Carried
Land	1,752
Buildings and Improvements	15,035
Total	16,787
Accumulated Depreciation at December 31, 2024	2,774
Austin | River Place - Building 6 (6500 River Place Boulevard)
Initial Cost
Encumbrances	0
Land	1,598
Buildings and Improvements	12,945
Net Improvements (Retirements) Since Acquisition	689
Gross Amount Which Carried
Land	1,598
Buildings and Improvements	13,634
Total	15,232
Accumulated Depreciation at December 31, 2024	2,583
Austin | River Place - Building 7 (6500 River Place Boulevard)
Initial Cost
Encumbrances	0
Land	1,801
Buildings and Improvements	16,486
Net Improvements (Retirements) Since Acquisition	463
Gross Amount Which Carried
Land	1,801
Buildings and Improvements	16,949
Total	18,750
Accumulated Depreciation at December 31, 2024	2,810
Austin | Quarry Lake II (4516 Seton Center Parkway)
Initial Cost
Encumbrances	0
Land	3,970
Buildings and Improvements	30,546
Net Improvements (Retirements) Since Acquisition	2,042
Gross Amount Which Carried
Land	3,867
Buildings and Improvements	32,691
Total	36,558
Accumulated Depreciation at December 31, 2024	5,555
Other | 6600 Rockledge Drive
Initial Cost
Encumbrances	0
Land	0
Buildings and Improvements	37,421
Net Improvements (Retirements) Since Acquisition	(9,985)
Gross Amount Which Carried
Land	0
Buildings and Improvements	27,436
Total	27,436
Accumulated Depreciation at December 31, 2024	10,245
Other | 1676 International Drive
Initial Cost
Encumbrances	0
Land	18,437
Buildings and Improvements	97,538
Net Improvements (Retirements) Since Acquisition	(28,447)
Gross Amount Which Carried
Land	10,239
Buildings and Improvements	77,289
Total	87,528
Accumulated Depreciation at December 31, 2024	25,796
Other | 8260 Greensboro Drive
Initial Cost
Encumbrances	0
Land	7,952
Buildings and Improvements	33,964
Net Improvements (Retirements) Since Acquisition	11,210
Gross Amount Which Carried
Land	8,102
Buildings and Improvements	45,024
Total	53,126
Accumulated Depreciation at December 31, 2024	17,525
Other | 2340 Dulles Corner Boulevard
Initial Cost
Encumbrances	0
Land	16,345
Buildings and Improvements	65,379
Net Improvements (Retirements) Since Acquisition	(21,418)
Gross Amount Which Carried
Land	9,747
Buildings and Improvements	50,559
Total	60,306
Accumulated Depreciation at December 31, 2024	4,018
Other | Main Street - Plaza 1000
Initial Cost
Encumbrances	0
Land	2,732
Buildings and Improvements	10,942
Net Improvements (Retirements) Since Acquisition	324
Gross Amount Which Carried
Land	2,732
Buildings and Improvements	11,266
Total	13,998
Accumulated Depreciation at December 31, 2024	11,104
Other | Main Street - Piazza
Initial Cost
Encumbrances	0
Land	696
Buildings and Improvements	2,802
Net Improvements (Retirements) Since Acquisition	2,692
Gross Amount Which Carried
Land	704
Buildings and Improvements	5,486
Total	6,190
Accumulated Depreciation at December 31, 2024	4,257
Other | Main Street - Promenade
Initial Cost
Encumbrances	0
Land	532
Buildings and Improvements	2,052
Net Improvements (Retirements) Since Acquisition	188
Gross Amount Which Carried
Land	532
Buildings and Improvements	2,240
Total	2,772
Accumulated Depreciation at December 31, 2024	1,597
Other | 920 North King Street
Initial Cost
Encumbrances	0
Land	6,141
Buildings and Improvements	21,140
Net Improvements (Retirements) Since Acquisition	(23,053)
Gross Amount Which Carried
Land	331
Buildings and Improvements	3,897
Total	4,228
Accumulated Depreciation at December 31, 2024	1,240
Other | 300 Delaware Avenue
Initial Cost
Encumbrances	0
Land	6,369
Buildings and Improvements	13,739
Net Improvements (Retirements) Since Acquisition	2,044
Gross Amount Which Carried
Land	6,365
Buildings and Improvements	15,787
Total	22,152
Accumulated Depreciation at December 31, 2024	$ 11,479

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation - Reconciliations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the Beginning of the Year	$ 3,542,232	$ 3,617,240	$ 3,472,602
Additions:
Acquisitions		0	0
Capital expenditures and assets placed into service	149,172	210,226	212,874
Less:
Dispositions/impairments/placed into redevelopment	(282,315)	(251,190)	(32,951)
Retirements	(34,309)	(34,044)	(35,285)
Balance at the end of the year	3,374,780	3,542,232	3,617,240
Per consolidated balance sheet	3,374,780	3,542,232	3,617,240
Tax basis of assets, cost for income tax purposes	2,900,000	3,000,000
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the beginning of the year	1,131,792	1,063,060	957,450
Additions:
Depreciation expense	153,784	158,194	147,735
Less:
Dispositions/impairments/placed into redevelopment	(80,315)	(55,969)	(7,341)
Retirements	(33,458)	(33,493)	(34,784)
Balance at the end of the year	1,171,803	1,131,792	1,063,060
Per consolidated balance sheet	$ 1,171,803	$ 1,131,792	$ 1,063,060
Leashold Interest Land
Less:
Lease agreement term (in years)	99 years
Maximum
Less:
Useful life (in years)	55 years