We are a self-administered and self-managed real estate investment trust (“REIT”) engaged in the acquisition, development, redevelopment, ownership, management, and operation of a portfolio of office, life science/lab, residential and mixed-use properties.
−Removed: During the twelve months ended December 31, 2024, we owned and managed properties within four markets:
+Added: During the twelve months ended December 31, 2025, we owned and managed properties within four segments:
(1) Philadelphia Central Business District (“Philadelphia CBD”), (2) Pennsylvania Suburbs, (3) Austin, Texas, and (4) Other.
3 unchanged sentences
The Other segment includes properties in Washington, D.C., Northern Virginia, Southern Maryland, Camden County, New Jersey and New Castle County, Delaware.
−Removed: In addition to our four geographic markets, our corporate group is responsible for cash and investment management, development/redevelopment of certain real estate properties during the construction period, and certain other general support functions.
+Added: In addition to our four segments, our corporate group is responsible for cash and investment management, development/redevelopment of certain real estate properties during the construction period, and certain other general support functions.
See Note 1 “Organization of the Parent Company and the Operating Partnership,” to our Consolidated Financial Statements for our property portfolio, management services and land holdings.
60 unchanged sentences
We currently expect to continue to operate in markets where we have a concentration advantage due to economies of scale.
−Removed: We believe that where possible, it is best to operate with a strong base of properties in order to benefit from the personnel
−Removed: allocation and the market strength associated with managing multiple properties in the same market.
+Added: We believe that where possible, it is best to operate with a strong base of properties in order to benefit from the personnel allocation and the market strength associated with managing multiple properties in the same market.
We also intend to selectively dispose of properties and redeploy capital if we determine a property cannot meet our long-term earnings growth expectations.
43 unchanged sentences
We face risks associated with breaches of our information technology systems, including through cyber attacks and cyber intrusions, which could result in significant disruptions of our information technology networks and related systems and unauthorized access to our information and information of our tenants and personnel.
−Removed: As we previously disclosed, in April 2024, we detected unauthorized occurrences by a third party on portions of our information technology systems.
−Removed: Upon detecting the unauthorized occurrences, we promptly initiated our previously established response protocols and took steps to contain and remediate the incident.
−Removed: As part of our remediation activities, we strengthened our surveillance of cybersecurity threats and our information backup systems.
The Audit Committee of our Board (the “Audit Committee”) receives and reviews periodic reports on cybersecurity matters from our Chief Technology and Innovation Officer, including reports on documented incidents or violations of our IT and security policies.
3 unchanged sentences
Human Capital Resources
−Removed: As of December 31, 2024, we had approximately 285 full-time employees and five part-time employees and one intern.
−Removed: We seek to maintain a challenging, enriching, respectful, diverse, inclusive, collaborative and rewarding work environment for
−Removed: our employees whom we consider to be among our most valuable assets.
+Added: As of December 31, 2025, we had approximately 268 full-time employees and ten part-time employees.
+Added: We seek to maintain a challenging, enriching, respectful, inclusive, collaborative and rewarding work environment for our employees whom we
+Added: consider to be among our most valuable assets.
We maintain policies and programs that we believe reflect our continued commitment to our employees, including:
1 unchanged sentence
• operational protocols which prioritize employee health, safety and well-being;
−Removed: • promotion of diversity and inclusion in our hiring practices;
−Removed: ◦ In 2024, approximately 46% of all new hires were females and approximately 46% of all new hires were ethnic minorities.
• training and career development opportunities and a tuition reimbursement program;
• regular assessment of the engagement, satisfaction and retention of our employees.
−Removed: Environmental, Social, and Corporate Governance
−Removed: We are committed to to implementing and maintaining environmental, social, and governance (“ESG”) standards while driving value through continual improvement of our operations, portfolio performance, and community impact.
−Removed: Our reduction targets for energy, greenhouse gas emissions and water aim to reduce consumption by 15% compared to our 2018 baseline by 2025.
−Removed: We have reached the following levels as of December 31, 2024:
−Removed: a 35% like-for-like intensity use reduction from baseline for energy, a 29% like-for-like intensity use reduction from baseline for water and a 43% like-for-like intensity use reduction from baseline for greenhouse gas emissions, thus achieving our reduction targets a year early.
−Removed: In 2024, we received our tenth annual Global Real Estate Sustainability Benchmark (“GRESB”) Green Star ranking.
−Removed: We achieved Green Lease Leaders Platinum recognition in the category’s inaugural year, recognizing our collaboration with tenants to equitably align financial and environmental benefits.
−Removed: We remain committed to energy efficiency in our buildings.
+Added: Sustainability, Social Responsibility and Corporate Governance
+Added: We are committed to implementing and maintaining sustainability, social responsibility, and corporate governance standards while driving value through continual improvement of our operations, portfolio performance, and community impact.
+Added: In 2025, we received our eleventh annual Global Real Estate Sustainability Benchmark (“GRESB”) Green Star ranking.
+Added: We achieved Green Lease Leaders Platinum recognition in the category’s inaugural year, recognizing our collaboration with tenants to equitably align financial and environmental benefits and renewed this certification in 2025 for an additional three years.
+Added: We remain committed to energy efficiency throughout our portfolio.
We remain committed to supporting our employees and the communities where we operate.
−Removed: We promote diversity, equity, and inclusion through board diversity and employee engagement.
+Added: We promote meritocracy through employee engagement.
Employees are given access to mentorship and tuition reimbursement opportunities as well as numerous programs to promote health and wellness.
−Removed: Brandywine maintains and encourages the use of over 74 acres of green space for community engagement including a focus on
−Removed: biodiversity through our onsite, honey generating, beekeeping habitats.
+Added: Brandywine maintains and encourages the use of over 74 acres of green space for community engagement including a focus on biodiversity through our onsite, honey generating, beekeeping habitats and on-site micro farms.
For further information regarding our environmental, social, and governance strategies and policies, please visit the “Responsibility” section of our website.
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.