{"id":3645,"date":"2021-08-09T21:32:22","date_gmt":"2021-08-10T02:32:22","guid":{"rendered":"https:\/\/1reason.com\/re\/brandywine-realty-trust-announces-second-quarter-results-and-narrows-2021-guidance\/3645\/"},"modified":"2021-08-10T16:32:22","modified_gmt":"2021-08-10T21:32:22","slug":"brandywine-realty-trust-announces-second-quarter-results-and-narrows-2021-guidance","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/brandywine-realty-trust-announces-second-quarter-results-and-narrows-2021-guidance\/3645\/","title":{"rendered":"Brandywine Realty Trust Announces Second Quarter Results\u00a0And Narrows 2021 Guidance"},"content":{"rendered":"
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Management Comments<\/u><\/em><\/strong><\/p>\n

\u201cWe are excited to see an increasing number of our tenants returning to the workplace. As physical building occupancy increases, we will continue to prioritize the safety of our employees, tenants and stakeholders,\u201d stated Gerard H. Sweeney, President and Chief Executive Officer for Brandywine Realty Trust. \u201cWe are making excellent progress on our 2021 business plan. We have narrowed our speculative revenue guidance range while increasing the midpoint by $0.5 million and we are now 98% complete at the revised midpoint. During the quarter, we continued to experience positive mark-to-market rents increasing 22% and 14% on an accrual and cash basis. Based on signed leases, we anticipate that during the second half of 2021, we will experience increased occupancy and higher same-store cash NOI growth. Our balance sheet and liquidity remained strong during the quarter and we continue to make excellent progress on our life science and other development initiatives. Based on our first quarter progress, we are narrowing our 2021 FFO guidance of $1.33 to $1.41 per share to $1.34 to $1.40 per share.\u201d<\/p>\n

Second Quarter Highlights<\/u><\/em><\/strong><\/p>\n

Financial Results<\/em><\/strong><\/p>\n