Brandywine Realty Trust Completes Sale of One and Two Barton Skyway in Austin, TX Yielding Net Proceeds in Excess of $100 Million
Brandywine Realty Trust (BDN)
Last brandywine realty trust earnings: 4/22 06:02 pm
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Source: GlobeNewswire
PHILADELPHIA, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Brandywine Realty Trust (NYSE: BDN) today announced the closing of the sale of One and Two Barton Skyway, located at 1501 and 1601 South MoPac Expressway in Southwest Austin, to the City of Austin. The 386,000-square-foot facility, sold for $107.6 million, or $275 per square foot, will serve as a consolidated public safety headquarters. “This transaction is consistent with our capital recycling and portfolio management objectives. This sale both strengthens our balance sheet and positions us to seize high-quality, strategic investment opportunities,” said Jerry Sweeney, President & CEO of Brandywine Realty Trust. “At the same time, we remain deeply committed to Austin, exemplified by our development of 405 Colorado and Uptown ATX, our 66-acre master-planned development that is a cornerstone of Austin’s emerging second downtown.” The Barton Skyway office park, situated on 35 acres in Southwest Austin, comprises four office buildings.
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BDN
Earnings
- 10/22/24 - Miss
BDN
Sec Filings
- 10/23/24 - Form 8-K
- BDN's page on the SEC website