Brandywine Realty Considers Asset Sales

RADNOR, PA-Brandywine Realty Trust is looking at selling assets this year as a way to enhance liquidity as it did last year when it disposed of $512 million in properties. “Joint ventures and sales remain one of the more compelling sources of capital we can access,” said Gerard Sweeney, the office REIT’s president and chief executive officer, during its fourth-quarter conference call.

The company will known test the market and see what it can dispose of based on size, quality and location. “Our first wave of properties is on the market, and we should have more clarity on pricing and velocity over the next several months,” he said.

Meanwhile, the Brandywine will not pursue any new developments beyond its two developments and six redevelopments underway priced at $440.7 million. “Our major focus is on 2010,” Sweeney said.