PHILADELPHIA, PA — Brandywine Realty Trust (NYSE: BDN) has released its financial and operational results for the first quarter of 2025, showing strides in leasing activity even as the company works to address broader financial challenges.
The real estate investment trust reported a net loss of $27.4 million, or $0.16 per share, compared to a $16.7 million loss during the same period last year. Funds from operations (FFO), a key industry metric, totaled $24.7 million, or $0.14 per share, down from $41.2 million in Q1 2024. Despite this, Brandywine continues to make progress on its 2025 business plan, narrowing its FFO guidance to a range of $0.61 to $0.71 per share.
Operationally, the company executed approximately 306,000 square feet of forward leases, marking its best quarter for new leasing in nearly three years. First-quarter leasing activity totaled 235,000 square feet, contributing to an 8.9% increase in rental rates on an accrual basis. Brandywine’s Schuylkill Yards residential development project, Avira, is now 96% leased, with stabilization expected later this quarter.
“During the first quarter, we made excellent progress on our 2025 business plan,” said Jerry Sweeney, President and CEO. “We continue to experience positive mark-to-market rental rate increases… and remain in an excellent liquidity position.”
Brandywine reinforced its liquidity by repaying a $70 million term loan and maintaining a low balance of $65 million on its $600 million credit line. The company also declared a quarterly cash dividend of $0.15 per share, reflecting its commitment to shareholder returns.
With a core portfolio occupancy rate of 86.6% and leasing momentum in place, Brandywine Realty Trust is positioning itself for steady growth despite economic headwinds.
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