Brandywine closes $240M sale of 3151 Market Street office building; nets $233.7M after $60.2M C-PACE payoff

BRANDYWINE OPERATING PARTNERSHIP, L.P.

Completed Sept 30, 2026 sale of 441,000 sq ft office building at 3151 Market Street, Philadelphia to an unrelated third party for $240.0M.
Net proceeds ~$233.7M; repaid $60.2M to retire the $57.3M C-PACE loan encumbering the property, leaving pro forma cash at $211.3M vs $37.9M historical.
Pro forma June 30, 2026 balance sheet: total assets $3.44B vs $3.54B; secured debt falls to $88.2M from $144.3M; total equity $666.0M vs $695.9M.
Pro forma six months ended June 30, 2026 net loss attributable to common shareholders improves to $74.7M ($0.43/sh) from $80.6M ($0.46/sh) after removing the property's results.
FY2025 pro forma net loss attributable to common shareholders widens to $203.3M ($1.17/sh) from $179.5M ($1.03/sh) on a $23.6M impairment and $6.3M loss on early debt extinguishment.

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