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2 0 2 0 a N N U a L R E P O
QUALITY INNOVATION INTEGRITY COMMUNITY 2020 ANNUAL R EPO R T From top to bottom: penthouse at 1676 International, McLean, VA; rendering of Block A at Broadmoor, Austin, TX; façade 4040 Wilson, Metro D.C.; Team members connecting on Cira Green at Cira Centre South, Philadelphia, PA; the Schuylkill Yards sign atop the Bulletin Building, Philadelphia, PA; construction crew and Brandywine worker on site at Drexel Square, Philadelphia, PA; rendering of promenade at Broadmoor, Austin, TX QUALITY INNOVATION INTEGRITY COMMUNITY n most crises, there is both danger and opportunity. I From a global pandemic, to an economic shutdown and reopening, and a social reckoning with race and justice, 2020 challenged the foundational elements of many organizations. At Brandywine, we leaned into our bedrock—the core values we’ve lived out for over 25 years by prioritizing people, relationships and communities. Our teams rose to the occasion, taking swift action to cover the danger side, and then shifting focus forward to the opportunities. Early on, as the pandemic unfolded, we quickly implemented business-continuity plans and activated a crisis response team to protect the health and safety of our employees, tenants, and stakeholders. Our operational model allowed us to keep 100% of our buildings open while we made further investments in on-site health and safety measures. We maintained strong levels of rent collection while working collaboratively with our tenants on rent relief solutions where necessary. We made great efforts to be true workplace partners, providing our tenants with custom Return to the Workplace plans and a comprehensive Tenant Resource Toolkit. We remained committed to our brand promise and leveraged this period of uncertainty to deepen our relationships. -
March 31, 2021
Units Cost Market Value US Equity Index Fund US Equities 95.82% Domestic Common Stocks 10X GENOMICS INC 126 10,868 24,673 1LIFE HEALTHCARE INC 145 6,151 4,794 2U INC 101 5,298 4,209 3D SYSTEMS CORP 230 5,461 9,193 3M CO 1,076 182,991 213,726 8X8 INC 156 2,204 4,331 A O SMITH CORP 401 17,703 28,896 A10 NETWORKS INC 58 350 653 AAON INC 82 3,107 5,132 AARON'S CO INC/THE 43 636 1,376 ABBOTT LABORATORIES 3,285 156,764 380,830 ABBVIE INC 3,463 250,453 390,072 ABERCROMBIE & FITCH CO 88 2,520 4,086 ABIOMED INC 81 6,829 25,281 ABM INDUSTRIES INC 90 2,579 3,992 ACACIA RESEARCH CORP 105 1,779 710 ACADIA HEALTHCARE CO INC 158 8,583 9,915 ACADIA PHARMACEUTICALS INC 194 6,132 4,732 ACADIA REALTY TRUST 47 1,418 1,032 ACCELERATE DIAGNOSTICS INC 80 1,788 645 ACCELERON PHARMA INC 70 2,571 8,784 ACCO BRANDS CORP 187 1,685 1,614 ACCURAY INC 64 483 289 ACI WORLDWIDE INC 166 3,338 6,165 ACTIVISION BLIZZARD INC 1,394 52,457 133,043 ACUITY BRANDS INC 77 13,124 14,401 ACUSHNET HOLDINGS CORP 130 2,487 6,422 ADAPTHEALTH CORP 394 14,628 10,800 ADAPTIVE BIOTECHNOLOGIES CORP 245 11,342 10,011 ADOBE INC 891 82,407 521,805 ADT INC 117 716 1,262 ADTALEM GLOBAL EDUCATION INC 99 4,475 3,528 ADTRAN INC 102 2,202 2,106 ADVANCE AUTO PARTS INC 36 6,442 7,385 ADVANCED DRAINAGE SYSTEMS INC 116 3,153 13,522 ADVANCED ENERGY INDUSTRIES INC 64 1,704 7,213 ADVANCED MICRO DEVICES INC 2,228 43,435 209,276 ADVERUM BIOTECHNOLOGIES INC 439 8,321 1,537 AECOM 283 12,113 17,920 AERIE PHARMACEUTICALS INC 78 2,709 1,249 AERSALE CORP 2,551 30,599 31,785 AES CORP/THE 1,294 17,534 33,735 AFFILIATED -
03.031 Socc04 Final 2(R)
STATEOF CENTER CITY 2008 Prepared by Center City District & Central Philadelphia Development Corporation May 2008 STATEOF CENTER CITY 2008 Center City District & Central Philadelphia Development Corporation 660 Chestnut Street Philadelphia PA, 19106 215.440.5500 www.CenterCityPhila.org TABLEOFCONTENTSCONTENTS INTRODUCTION 1 OFFICE MARKET 2 HEALTHCARE & EDUCATION 6 HOSPITALITY & TOURISM 10 ARTS & CULTURE 14 RETAIL MARKET 18 EMPLOYMENT 22 TRANSPORTATION & ACCESS 28 RESIDENTIAL MARKET 32 PARKS & RECREATION 36 CENTER CITY DISTRICT PERFORMANCE 38 CENTER CITY DEVELOPMENTS 44 ACKNOWLEDGEMENTS 48 Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org INTRODUCTION CENTER CITY PHILADELPHIA 2007 was a year of positive change in Center City. Even with the new Comcast Tower topping out at 975 feet, overall office occupancy still climbed to 89%, as the expansion of existing firms and several new arrivals downtown pushed Class A rents up 14%. For the first time in 15 years, Center City increased its share of regional office space. Healthcare and educational institutions continued to attract students, patients and research dollars to downtown, while elementary schools experienced strong demand from the growing number of families in Center City with children. The Pennsylvania Convention Center expansion commenced and plans advanced for new hotels, as occupancy and room rates steadily climbed. On Independence Mall, the National Museum of American Jewish History started construction, while the Barnes Foundation retained designers for a new home on the Benjamin Franklin Parkway. Housing prices remained strong, rents steadily climbed and rental vacancy rates dropped to 4.6%, as new residents continued to flock to Center City. While the average condo sold for $428,596, 115 units sold in 2007 for more than $1 million, double the number in 2006. -
Current and Future Market Conditions Q4 2017
Current and Future Market Conditions Q4 2017 Current and Future Market Conditions Q4 2017 Philadelphia’s CBD rallied with 250,000 SF of positive absorption during Q4, largely resulting from Jefferson HealthCare’s remarkable expansion. Absorption for the year was positive at 300,000 SF despite three relatively stagnant quarters to begin the year. The vacancy rate at year‐end is 8% with 3.2 million SF still available. New Leases: Jefferson Healthcare signed a new lease for 250,000 SF at 1101 Market Street. The healthcare group will initially lease 150,000 SF plus an additional total of 100,000 SF divided into 50,000 SF segments to be leased in two and four years, respectively. This new long‐term lease successfully backfills Aramark's departure, which will relocate to 2400 Walnut Street. Jefferson Healthcare’s explosive growth is a welcome addition to the city as it seeks to consolidate suburban mergers and acquisitions into its CBD portfolio. Additionally, Jefferson signed various lease term extensions ranging from 5‐10 years on 200,000 SF at 833 Chestnut Street. Hussian School of Art will relocate 20,000 SF from The Bourse Building to 1500 Spring Garden Street. The school entered a long‐term lease. Baker Tilly extended lease term at One Liberty Place for 11 years on the 44th and 45th floors. Simon & Simon will upgrade their image and location when they vacate 1515 Market Street to begin a new 5‐year, 30,000 SF lease on the 20th floor at 1818 Market Street. The law firm will backfill the space formerly occupied by Five Below. -
Pennsylvania ENERGY STAR Fact Sheet
PENNSYLVANIA April 2017 ® Families and businesses are saving with the help of ENERGY STAR Pennsylvania is home to more than 519 businesses and organizations participating in the U.S. Environmental Protection Agency’s ENERGY STAR program: 81 manufacturers of ENERGY STAR certified products 32 companies supporting independent certification of ENERGY STAR products and homes 83 companies building ENERGY STAR certified homes, three of which are committed to building 100% ENERGY STAR as well as many businesses, school districts, governments, and faith-based groups using ENERGY STAR resources to reduce energy waste in their facilities. Across the state of Pennsylvania 5,654,291 customers are served by ENERGY STAR utility partners U.S. Steel Tower, Pittsburgh, PA. 22,107 homes have earned the ENERGY STAR ENERGY STAR Certified in 2016. 19,501 buildings (nearly 1.8 billion square feet) have been benchmarked using EPA’s ENERGY STAR Portfolio Manager State Spotlights 1,033 buildings have earned the ENERGY STAR for superior efficiency, including 284 schools, 16 hotels, 7 hospitals, Air King America offers one of the most complete lines of 274 office buildings, and 4 industrial plants ENERGY STAR qualified ventilation products on the market including Bathroom Exhaust Fans, Continuous Operation Exhaust Fans, Inline Exhaust, Under Cabinet and Chimney Recent Partner of the Year Winners Range Hoods. Air King America Brandywine Realty Trust “It’s an honor to be recognized again by the EPA for our EnergyCAP Inc innovative energy efficiency solutions that are helping our Liberty Property Trust customers save energy and money every day.” – Craig North Penn School District Adams, President and CEO, PECO PECO PPL Electric SEPTA's Headquarters in Center City Philadelphia, built in Ricoh USA, Inc. -
Last Updated 1/3/2017 Name Address Phone/Fax Committee Assignment Samantha Banks Schnader, Harrison Segal & Lewis W
Last updated 1/3/2017 Name Address Phone/Fax Committee Assignment Samantha Banks Schnader, Harrison Segal & Lewis w. 215-751-2287 Litigation 2017 1600 Market St #3600 c. 215-751-2205 Board Observer Philadelphia, PA 19103 [email protected] Keelin Boyle Morgan, Lewis & Bokius, LLP w. 215- 963-5928 Communications/ 2017 1701 Market St. c. 302-547-2088 video event planning Board Observer Philadelphia, PA 19103-2921 [email protected] David Caputo YOUMAN & CAPUTO, LLC p. 215-302-1999 Litigation 2014-2017 1650 Market Street 36th Floor c. 215-990-8518 Co-chair, Events 1st Term Philadelphia, PA 19103 [email protected] Thomas M. Chapin Mill Creek Capital Advisors, LLC p. 610-941-9795 Audit-finance—Co- 2016-2019 Eight Tower Bridge c. 610-945-5569 Chair 2d Term 161 Washington Street, Ste 1500 5 year plan task force- Conshohocken, PA 19428 co-Chair [email protected] Nicholas E. Chimicles Chimicles & Tikellis p. 610-642-8500 Audit-Finance 2014-2017 One Haverford Centre f. 610-649-3633 3rd Term 361 West Lancaster Avenue, 5 year plan task force P.O. Box 100 Haverford, PA 19041-0100 [email protected] Secretary: Sandy Schwartz Lisa W. Clark Duane Morris p. 215 979-1833 Co-Chair-Governance 2016-2019 30 South 17th Street f. 215 689-1941 1st Term Philadelphia, PA 19103-4196 [email protected] Abbi L. Cohen Dechert LLP p. 215-994-2352 Personnel-co-chair 2014-2017 Cira Center f. 215-994-2222 1st Term 2929 Arch Street Governance Philadelphia, PA 19104-2808 [email protected] Rochelle Fedullo Wilson Elser p. -
Supplemental Information Package
S U PPL E M E N TA L I N F O R M ATIO N P A C K A G E 2019 THIRD Q U A R T E R Table of Contents Page Executive Summary 3 2019 Business Plan Trend Line 5 Investor Day 2018 - 2021 Forward Guidance Ranges 6 2020 Business Plan Highlights 7 Sources and Uses of Cash and Cash Equivalents 8 Regional Property Overviews 9 Net Operating Income Composition 12 Development Activity 13 Land Inventory 17 Property Activity 18 Leasing Activity 20 Lease Expiration Analysis 22 Top Twenty Tenants 24 Portfolio Tenant Mix 25 Income Statements 26 Same Store Net Operating Income Comparison 27 EBITDA and EBITDA Coverage Ratios 29 Funds from Operations and Cash Available for Distribution 30 Balance Sheets and Related Information 32 Above: Schuylkill Yards, Philadelphia, PA Debt Schedules 35 Cover (from L to R): 650 Park Avenue, King of Prussia, PA; 1676 International Drive, Unconsolidated Real Estate Ventures 40 Metro D.C.; 500 North Gulph Road, King of Prussia, PA; 4040 Wilson, Metro D.C.; Drexel Square, Philadelphia, PA; 405 Colorado Street, Austin, Texas Analyst and Company Information 43 Disclaimers and Other Information 44 Q3 2019 Executive Summary (unaudited in millions, except square footage and acreage) BRANDYWINE REALTY TRUST | Page 3 Transaction Highlights 155 King of Prussia Rd | Radnor, PA Broadmoor, Block A | Austin, TX 650 Park Avenue Rendering | King of Prussia, PA Dispositions On September 11, 2019, we completed the sale of an office building located at 1900 Gallows Road in Vienna, Virginia, containing 210,632 square feet, for a gross sales price of $36.4 million. -
BNYM Investment Port:Midcap Stock Port (Unaudited) As of Date: 09/30/2020 Common Stocks
BNYM Investment Port:MidCap Stock Port (Unaudited) As of date: 09/30/2020 Common Stocks Identifier Security Description Shares Market Value ($) 002535300 Aaron's 7,450 422,043 00404A109 Acadia Healthcare 5,480 161,550 004498101 ACI Worldwide 13,250 346,223 00508Y102 Acuity Brands 9,470 969,255 BD845X2 Adient 12,480 216,278 00737L103 Adtalem Global Education 6,800 166,872 00766T100 AECOM 4,170 174,473 018581108 Alliance Data Systems 7,130 299,317 01973R101 Allison Transmission Holdings 7,110 249,845 00164V103 AMC Networks 10,710 264,644 023436108 Amedisys 2,760 652,547 025932104 American Financial Group 3,310 221,704 03073E105 AmerisourceBergen 2,220 215,162 042735100 Arrow Electronics 5,620 442,069 04280A100 Arrowhead Pharmaceuticals 5,670 244,150 045487105 Associated Banc-Corp 47,940 605,003 05329W102 Autonation 6,980 369,451 05368V106 Avient 23,030 609,374 053774105 Avis Budget Group 10,600 278,992 05464C101 Axon Enterprise 2,410 218,587 062540109 Bank of Hawaii 4,830 244,012 06417N103 Bank OZK 6,630 141,352 090572207 Bio-Rad Laboratories 1,480 762,881 09073M104 Bio-Techne 880 218,002 05550J101 BJs Wholesale Club Holdings 11,270 468,269 09227Q100 Blackbaud 3,750 209,363 103304101 Boyd Gaming 18,350 563,162 105368203 Brandywine Realty Trust 93,500 966,790 11120U105 Brixmor Property Group 6,300 73,647 117043109 Brunswick 8,150 480,117 12685J105 Cable One 300 565,629 127190304 CACI International, Cl. A 3,980 848,377 12769G100 Caesars Entertainment 11,890 666,553 133131102 Camden Property Trust 11,390 1,013,482 134429109 Campbell Soup 4,440 -
View Annual Report
BrandywineRealtyTrust | 2006 ANNUAL REPORT Brandywine Realty Trust (NYSE: BDN), with headquarters in Radnor, PA, is one of the largest full-service, completely integrated real estate companies in the nation. Organized as a real estate investment trust (REIT), Brandywine has a $6 billion market capitalization and develops, owns, leases, acquires, manages or has ownership interest in office and industrial properties aggregating 43 million square feet. Regional offices are located in Philadelphia, PA; Metropolitan Washington D.C.; Richmond, VA; Mt. Laurel and Lawrenceville, New Jersey; Oakland and San Diego CA; and Austin and Dallas, TX. To our shareholders: 2006 was an extraordinary year for BrandywineRealtyTrust. Our $2.7 billion merger with Prentiss Properties Trust in January effectively doubled the size of our company to $5.5 billion of total assets. As the year progressed, we executed a comprehensive integration process in which the best practices of each company were identified, refined and implemented across the combined company. Our integration process was collaborative, disciplined and incorporated every aspect of our business, and has resulted in a stronger and deeper platform for our future real estate activities. Throughout 2006, we sustained the momentum of our successful Prentiss merger with a series of value-oriented initiatives, including: Focused Developments: We made significant progress on six ground-up development projects and three major redevelopments aggregating 1.4 million square feet, and are actively marketing the associated office space to prospective tenants. During the year, we completed and leased $215.4 million of prior office developments at attractive yields, including the 99% lease-up of our award-winning, Cira Centre® office tower development. -
Usef-I Q2 2021
Units Cost Market Value U.S. EQUITY FUND-I U.S. Equities 88.35% Domestic Common Stocks 10X GENOMICS INC 5,585 868,056 1,093,655 1ST SOURCE CORP 249 9,322 11,569 2U INC 301 10,632 12,543 3D SYSTEMS CORP 128 1,079 5,116 3M CO 11,516 2,040,779 2,287,423 A O SMITH CORP 6,897 407,294 496,998 AARON'S CO INC/THE 472 8,022 15,099 ABBOTT LABORATORIES 24,799 2,007,619 2,874,948 ABBVIE INC 17,604 1,588,697 1,982,915 ABERCROMBIE & FITCH CO 1,021 19,690 47,405 ABIOMED INC 9,158 2,800,138 2,858,303 ABM INDUSTRIES INC 1,126 40,076 49,938 ACACIA RESEARCH CORP 1,223 7,498 8,267 ACADEMY SPORTS & OUTDOORS INC 1,036 35,982 42,725 ACADIA HEALTHCARE CO INC 2,181 67,154 136,858 ACADIA REALTY TRUST 1,390 24,572 30,524 ACCO BRANDS CORP 1,709 11,329 14,749 ACI WORLDWIDE INC 6,138 169,838 227,965 ACTIVISION BLIZZARD INC 13,175 839,968 1,257,422 ACUITY BRANDS INC 1,404 132,535 262,590 ACUSHNET HOLDINGS CORP 466 15,677 23,020 ADAPTHEALTH CORP 1,320 39,475 36,181 ADAPTIVE BIOTECHNOLOGIES CORP 18,687 644,897 763,551 ADDUS HOMECARE CORP 148 13,034 12,912 ADOBE INC 5,047 1,447,216 2,955,725 ADT INC 3,049 22,268 32,899 ADTALEM GLOBAL EDUCATION INC 846 31,161 30,151 ADTRAN INC 892 10,257 18,420 ADVANCE AUTO PARTS INC 216 34,544 44,310 ADVANCED DRAINAGE SYSTEMS INC 12,295 298,154 1,433,228 ADVANCED MICRO DEVICES INC 14,280 895,664 1,341,320 ADVANSIX INC 674 15,459 20,126 ADVANTAGE SOLUTIONS INC 1,279 14,497 13,800 ADVERUM BIOTECHNOLOGIES INC 1,840 7,030 6,440 AECOM 5,145 227,453 325,781 AEGLEA BIOTHERAPEUTICS INC 287 1,770 1,998 AEMETIS INC 498 6,023 5,563 AERSALE CORP -
State of Center City Philadelphia 2021
STATE OF CENTER CITY PHILADELPHIA 2021 Restoring | Returning | Reanimating Contents Introduction 1 Office 12 Health Care & Higher Education 18 Conventions, Tourism & Hotels 23 Arts & Culture 27 Retail 30 Employment 37 Transportation & Access 47 Downtown Living 53 Developments 62 Acknowledgements 64 Center City District & Central Philadelphia Development Corporation CENTERCITYPHILA.ORG Chapter Name| 1 Reanimating the City District | Center Center of the City Park Dilworth The global pandemic, local stay-at-home mandates and civil boarded-up storefronts and installed new artwork on many. We unrest created extraordinary challenges for all cities. In Center commissioned 200 decorative banners created by Philadelphia City, pedestrian volumes initially plummeted by 72%, as office artists. Our landscape teams planted street trees, filled park workers, hotel guests, regional shoppers, students, theater and flowerbeds with tens of thousands of bulbs and upgraded street restaurant patrons disappeared. At night, streets were devoid of lighting. We continued to provide fee-for-service cleaning for five cars, sidewalks were empty. From the very start in March 2020, adjacent residential neighborhoods. we had all of our on-street and park employees designated To enhance safety, we deployed new bike patrols and security “essential workers.” The central lesson from the Center City vans in afternoons and seven evenings per week, supplement- District’s founding 30 years ago suddenly had renewed reso- ing the role of our Community Service Representatives (CSRs). nance: the revival of economic activity and vitality depends upon In 2020, CSRs had more than 177,000 sustained conversations confidence in a public environment that is clean, safe with pedestrians seeking directions, responding to inquiries and attractive. -
Developments Introduction 1
2019 CENTER CITY PHILADELPHIA DEVELOPMENTS INTRODUCTION 1 DEVELOPMENTS MAP 4 6 COMMERCIAL/MIXED USE CULTURAL 9 GOVERNMENT & NONPROFIT INSTITUTIONS 10 HEALTH CARE & EDUCATION 11 HOSPITALITY 12 PUBLIC SPACE 15 RESIDENTIAL/MIXED USE 18 PROPOSED PROJECTS 29 ACKNOWLEDGMENTS 39 CENTER CITY DISTRICT & CENTRAL PHILADELPHIA DEVELOPMENT CORPORATION | CENTERCITYPHILA.ORG | Philly By Drone By | Philly W / Element Hotel W / Element INTRODUCTION Building upon a decade-long, sustained national economic Two large projects east of Broad Street are transforming Phila- expansion, 23 development projects totaling $2.8 billion were delphia’s former department store district. National Real Estate completed in Center City between Fairmount and Washington Development has completed another phase of East Market avenues, river to river, in the period from January 1, 2018 to adding more than 125,000 square feet of retail to their initial August 31, 2019. Eighteen projects totaling $3 billion in new office renovation and construction of two residential towers. A investment were under construction as of September 1, 2019. hotel in the historic Stephen Girard Building is currently under Another 21 projects with a total estimated development value of construction, while work is getting started on the final Chest- $1 billion are in the planning or proposal phase. nut Street phase of this full-block redevelopment. One block to the east, The Fashion District is opening in phases throughout The biggest of the completed projects is the largest develop- the fall of 2019, offering nearly 1 million square feet of shops, ment in Philadelphia’s history: the Comcast Technology Center, restaurants and a multiplex movie theater, designed to connect home to the Four Seasons Hotel, two restaurants, two local directly with public transit while animating both Market and broadcasting networks, an innovation hub and 4,000 Comcast Filbert streets.