Brandywine Realty Trust Completes Documentation and Escrow Funding Related to $256.5...

Brandywine Realty Trust Completes Documentation and Escrow Funding Related to
$256.5 Million of Forward Financing Commitments on the 30th Street Post Office
and Cira South Garage Projects

RADNOR, Pa., June 29 /PRNewswire-FirstCall/ -- Brandywine Realty Trust (NYSE:
BDN) announced today that it has completed definitive agreements for $256.5
million of aggregate forward financing commitments on the 30th Street Post
Office and Cira South Garage projects. The 30th Street Post Office project in
Philadelphia, Pennsylvania is a $260.5 million historic rehabilitation of an
862,692 square foot office building which is 100% pre-leased to the Internal
Revenue Service (IRS) for a twenty-year term. The $95.0 million Cira South
Garage project is located across the street from the 30th Street Post Office
and consists of a 1,662-car parking structure which will be up to 94%
pre-leased to the IRS. As of March 31, 2009, $257.2 million remained to be
funded of $355.5 million of aggregate project costs.

In conjunction with the finalization of this previously announced financing,
the individual project loans were increased to $209,700,000 from $209,340,000
and to $46,800,000 from $46,735,000 for the Post Office and Garage,
respectively. The $256.5 million of aggregate proceeds has been funded by the
underlying lenders and has been deposited along with our gross forward
commitment fee of approximately $17.7 million into an escrow account to be
administered by The Bank of New York Mellon, as trustee. Upon investment of
the escrow account in a portfolio of US Treasury securities, the forward
commitment fee will be reduced to approximately $16.2 million which will be
used together with the interest earned on the escrow account to pay the
interest costs of the loans through August 26, 2010, the anticipated
completion date of the projects and the date on which the then remaining
escrow balance of $256.5 million is expected to be released to us. We plan to
use the $256.5 million of aggregate proceeds to reduce borrowings under our
credit facility and for general corporate purposes.

The loans bear interest at 5.93% (versus the initial indication of 5.95%) with
interest-only through September 10, 2010 following which they will amortize
monthly over a twenty-year period beginning with the October 10, 2010 debt
service payment. The loans will be non-recourse and will be secured by
mortgages on the Post Office and Garage and by the leases of space at those
facilities upon completion of the projects by us and their acceptance by the
IRS for occupancy along with other customary conditions, all expected to occur
on or about August 26, 2010.

"We are extremely pleased to finalize the terms of the forward financings and
have the full loan proceeds of $256.5 million escrowed and available to be
disbursed in August 2010 upon delivery of the projects," stated Howard
Sipzner, Executive Vice President and Chief Financial Officer of Brandywine
Realty Trust. "These financings reflect the high quality of the Post Office
and Garage projects along with the attractiveness of the Internal Revenue
Service tenancy, and upon funding in 2010, will provide significant liquidity
for Brandywine and become key components of our long-term capital structure."

Brandywine was advised on the structuring and placement of the forward
financing commitments by CTL Capital, LLC which was advised by the law firm of
Duane Morris LLP, and by FBR Capital Markets & Co. The law firm of DLA Piper
and the accounting firm of Reznick Group, P.C. provided additional transaction
support to Brandywine.

About Brandywine Realty Trust
Brandywine Realty Trust is one of the largest, publicly traded, full-service,
integrated real estate companies in the United States. Organized as a real
estate investment trust and operating in select markets, Brandywine owns,
develops and manages a primarily Class A, suburban and urban office portfolio
aggregating approximately 37.3 million square feet, including 26.1 million
square feet which it owns on a consolidated basis.

Forward-Looking Statements
Estimates of future earnings per share, FFO per share, common share dividend
distributions and certain other statements in this release constitute
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements involve known
and unknown risks, uncertainties and other factors that may cause our and our
affiliates' actual results, performance, achievements or transactions to be
materially different from any future results, performance, achievements or
transactions expressed or implied by such forward-looking statements. Such
risks, uncertainties and other factors relate to, among others: our ability to
lease vacant space and to renew or relet space under expiring leases at
expected levels; competition with other real estate companies for tenants; the
potential loss or bankruptcy of major tenants; interest rate levels; the
availability of debt, equity or other financing; risks of acquisitions,
dispositions and developments, including the cost of construction delays and
cost overruns; unanticipated operating and capital costs; our ability to
obtain adequate insurance, including coverage for terrorist acts; dependence
upon certain geographic markets; and general and local economic and real
estate conditions, including the extent and duration of adverse changes that
affect the industries in which our tenants operate. Additional information on
factors which could impact us and the forward-looking statements contained
herein are included in our filings with the Securities and Exchange
Commission, including our Form 10-K for the year ended December 31, 2008.

SOURCE Brandywine Realty Trust

Investor-Press Contact, Marge Boccuti, Manager, Investor Relations,
+1-610-832-7702, marge.boccuti@bdnreit.com, or Company Contact, Howard M.
Sipzner, EVP & CFO, +1-610-832-4907, howard.sipzner@bdnreit.com, both of
Brandywine Realty Trust