---
schema_version: "secwatch.filing_event.v1"
accession: "0000790816-26-000014"
form_type: "8-K"
ticker: null
cik: "0001060386"
company_name: "BRANDYWINE OPERATING PARTNERSHIP, L.P."
filed_at: "2026-04-23T23:59:59+00:00"
generated_at: "2026-05-15T04:24:22.633138+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Brandywine Realty Q1 net loss widens to $48.9M; FFO $0.11/shr; narrows 2026 FFO guidance

## Summary
- Net loss $(48.9)M ($0.28/shr) vs $(27.4)M ($0.16/shr) prior year; includes $11.9M impairment.
- FFO available to common shareholders $20.0M ($0.11/shr) down from $24.7M ($0.14/shr) in Q1 2025.
- Core portfolio 88.3% occupied, 89.9% leased; leased 268k sq ft in wholly-owned portfolio.
- 2026 FFO guidance narrowed to $0.52-$0.58 from $0.51-$0.59; EPS loss guidance widened to $(0.76)-(0.70).
- Disposition target $290M; $305M under agreement or due diligence; Avira financing up to $100M.

## SEC filing metadata
- accession: 0000790816-26-000014
- form_type: 8-K
- cik: 0001060386
- company_name: BRANDYWINE OPERATING PARTNERSHIP, L.P.
- filed_at: 2026-04-23T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1060386/000079081626000014/0000790816-26-000014-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/790816/000079081626000014/bdn-20260422.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000790816-26-000014
- JSON: https://secwatch.observer/filing/0000790816-26-000014.json
- Plain text: https://secwatch.observer/filing/0000790816-26-000014.txt

## Key facts
- Earnings Releases
  BRANDYWINE OPERATING PARTNERSHIP, L.P. reported first quarter 2026 (three months ended March 31, 2026) results: net income $(48.9) million, EPS $(0.28) per share.
  - Period: first quarter 2026 (three months ended March 31, 2026)
  - Net income: $(48.9) million
  - EPS: $(0.28) per share
  - Result: reported results
  source text: Net loss attributable to common shareholders: $(48.9) million, or $(0.28) per share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1060386/000079081626000014/0000790816-26-000014-index.htm
- Earnings Releases
  BRANDYWINE OPERATING PARTNERSHIP, L.P. reported fiscal year 2026 results: EPS loss per diluted share guidance adjusted from $(0.66)-$(0.58) to $(0.76)-$(0.70); FFO per diluted share guidance narrowe. Guidance reaffirmed.
  - Period: fiscal year 2026
  - EPS: loss per diluted share guidance adjusted from $(0.66)-$(0.58) to $(0.76)-$(0.70); FFO per diluted share guidance narrowe
  - Guidance: reaffirmed
  - Result: guidance update
  source text: Based on current plans and assumptions and subject to the risks and uncertainties more fully described in our Securities and Exchange Commission filings, we are adjusting our 2026 loss per share guidance from $(0.66) - $(0.58) per share to $(0.76) – $(0.70) per share and 2026 FFO guidance from $0.51 - $0.59 per diluted share to $0.52 - $0.58 per diluted share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1060386/000079081626000014/0000790816-26-000014-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.