PLYMOUTH MEETING, PA-Locally based Brandywine Realty Trust commences anunderwritten public offering of 2 million common shares. All are being soldby Brandywine and underwritten by Brooklyn-based Citigroup Global Markets Inc.

At the close of NYSE trading on Thursday, June 12, the day of theannouncement, shares of BDN traded at $24.84 a share. At that price, theoffering would add slightly less than $50 million to the company coffers. Citigroup has theoption to purchase up to an additional 300,000 shares to coverover-allotments, which could add approximately another $7.45 million.

The shares are being offered through a supplement prospectus underBrandywine’s existing shelf registration statement. Copies are availablefrom Citigroup.

The REIT will use the proceeds for general corporate purposes, includingrepayment of debt. In this year’s first quarter, there were about 35.3million common shares outstanding.

Brandywine has regional offices in Mt. Laurel, NJ and Richmond, VA. It owns,manages or has an ownership interest in 285 office and industrial propertiesencompassing 20.4 million sf.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.