Brandywine Realty (BDN) Trust announced the completion of two significant sales within joint venture portfolio: 4040 Wilson, a mixed-use development in Arlington, VA, and the Dabney and Brittons Hill portfolio in Richmond, VA. These transactions yielded combined gross sale proceeds of $265.8M, advancing Brandywine’s strategic objectives to improve its competitive position, reduce forward capital commitments, and generate incremental liquidity for future investments. 4040 Wilson, located in Arlington’s Ballston submarket, was sold for $190.5M. The property has 405,000 square feet of office, retail, and residential space, as well as 494 parking spaces. 4040 Wilson was 96% leased and 94% leased at the time of sale. The Dabney and Brittons Hill portfolio, representing 14 industrial/flex buildings totaling 643,000 square feet, was sold for $66.8M, generating approximately $15.5M of net proceeds to Brandywine for its 50% ownership interest. In connection with the sale, Brandywine sold an 11-acre land parcel operating under a long-term parking lease valued at $8.5M. The assets were fully leased at closing. Together with previously disclosed asset sales, the Company has generated gross sales proceeds of approximately $310M and $191M of net cash proceeds. The proceeds from these transactions will further strengthen Brandywine’s balance sheet and support reinvestment in strategic initiatives that align with the company’s vision and market strategy.
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