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Brandywine Realty Trust Announces Commencement Of Public Offering Of Series E Cumulative Redeemable Preferred Shares

Stocks in this article: BDN





RADNOR, Pa., April 2, 2012 /PRNewswire/ -- Brandywine Realty Trust (the "Company") (NYSE: BDN) announced today that it has commenced a public offering of its Series E Cumulative Redeemable Preferred Shares. The shares will have a liquidation preference of $25.00 per share. The Company expects to grant to the underwriters for the public offering a 30-day option to purchase additional shares of Series E Cumulative Redeemable Preferred Shares to cover over-allotments, if any. The Company intends to file an application to list the Series E Cumulative Redeemable Preferred Shares on the New York Stock Exchange. If the listing is approved, trading of the Series E Cumulative Redeemable Preferred Shares on the New York Stock Exchange is expected to begin within 30 days after the initial issuance of the Series E Cumulative Redeemable Preferred Shares.

The net proceeds from this offering will be used for working capital, capital expenditures or other general corporate purposes, which may include acquisitions, real estate development activities, redemption of outstanding preferred shares, and repurchases or redemption of debt.

Merrill Lynch, Pierce, Fenner & Smith Incorporated and Citigroup are acting as the joint book-running managers of the offering.

This offering is being made pursuant to an effective shelf registration statement and related prospectus and preliminary prospectus supplement filed by the Company with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

When available, copies of the prospectus and preliminary prospectus supplement for this offering may be obtained by contacting Merrill Lynch, Pierce, Fenner & Smith Incorporated, 100 West 33 rd Street, 3 rd Floor, New York, NY 10001, Attention: Prospectus Department, by telephone at (800) 294-1322 or by email at dg.prospectus_requests@baml.com; or Citigroup Global Markets Inc., Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, Attention: Prospectus Department, telephone: (800) 831-9146 or email: batprospectusdept@citi.com.

About Brandywine Realty Trust

Brandywine Realty Trust is one of the largest, publicly traded, full-service, integrated real estate companies in the United States.  Organized as a real estate investment trust and operating in select markets, Brandywine owns, develops, manages and has ownership interests in a primarily Class A, suburban and urban office portfolio comprising 305 properties and 34.6 million square feet, including 231 properties and 25.1 million square feet owned on a consolidated basis and 52 properties and 6.5 million square feet in 18 unconsolidated real estate ventures. For more information, please visit www.brandywinerealty.com.

Forward-Looking Statements

Certain statements in this release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, achievements or transactions of the Company and its affiliates or industry results to be materially different from any future results, performance, achievements or transactions expressed or implied by such forward-looking statements.  Such risks, uncertainties and other factors relate to, among others, the Company's ability to lease vacant space and to renew or relet space under expiring leases at expected levels, the potential loss of major tenants, interest rate levels, the availability and terms of debt and equity financing, competition with other real estate companies for tenants and acquisitions, risks of real estate acquisitions, dispositions and developments, including cost overruns and construction delays, unanticipated operating costs and the effects of general and local economic and real estate conditions.  Additional information or factors which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission, including our Form 10-K for the year ended December 31, 2011.  The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.



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