RADNOR, Pa., July 24, 2012 /PRNewswire/ -- Brandywine Realty Trust (NYSE: BDN) announced today that it has completed the sale of Oaklands Corporate Center, an eleven-building portfolio totaling 466,719 square feet, located 35 miles west of Philadelphia in Exton, Pennsylvania for $52.7 million on July 18, 2012. The portfolio consists of ten single-story and one two-story flex/office buildings which are currently 81.6% leased and have a weighted average age of 21 years.
The net sale proceeds of this transaction after customary pro-rations and closing costs will be used for general corporate purposes.
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, leases and manages an urban, town center and suburban office portfolio comprising 306 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 as of March 31, 2012. 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. SOURCE Brandywine Realty Trust