BRANDYWINE OPERATING PARTNERSHIP, L.P. Form 8-K — Oct 22, 2026
Brandywine Realty Trust reported a Q3 2026 net loss of $22.3 million ($(0.13)/share) with Core FFO of $24.6 million ($0.14/diluted share), down from $0.16 a year ago. Results included a $29.1 million impairment, $55.7 million in disposition gains, and a $15.4 million loss on early debt extinguishment. The company executed aggressively on its capital markets plan, completing $681 million of sales versus a $305 million target and cutting combined debt by $390 million, driving Net Debt/EBITDA down to 7.6x from 9.0x. It also repurchased $140 million of high-coupon 2028/2029 bonds and 4.7 million common shares at $3.19 average.
Key figures
- Guidance
- 2026 loss per share $(0.64)-$(0.62); Core FFO $0.54-$0.56 per diluted share (excluding $15.4M, or $0.09/share, loss on early extinguishment of debt)
- Cash Position
- 313000000
- Dividend
- $0.08 per share quarterly
- Q3 revenue
- 125638000
- Core ffo q3
- $24.6 million or $0.14 per diluted share
- Core ffo 9mo
- $68.2 million or $0.38 per diluted share
- Impairment q3
- $29.1 million
- Share buyback
- 4.7 million shares at avg $3.19, totaling $14.9 million
- Core occupancy
- 89.0% occupied, 90.5% leased
- Debt reduction
- $390 million
- Bond repurchase
- $140 million at weighted-average 8.67%
- Net debt ebitda
- 7.6x vs 9.0x prior quarter
- Tenant retention
- 50%
- Core ffo q3 prior year
- $28.0 million or $0.16 per diluted share
- Sales executed vs plan
- $681 million vs $305 million target
- Credit facility balance
- $137 million on $600 million facility
AI analysis
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