Brandywine Realty Trust Closes on $600 Million Acquisition of the Rubenstein Company; Brandywine Solidifies Leadership Position Throughout Region.

PLYMOUTH MEETING, Pa. -- Brandywine Realty Trust (NYSE:BDN) announced today that the company has closed on its $600 million acquisition of The Rubenstein Company, L.P., acquiring approximately 3.5 million square feet of Class A office space located in Brandywine's existing core markets of Philadelphia, the Philadelphia suburbs and Wilmington, Delaware. Brandywine financed the transaction consistent with its previously announced capital structure using net proceeds from the Company's recently completed common share offering with Citigroup Global Markets, Inc., proceeds from two term loan facilities provided by Bear, Stearns & Co. Inc. and J.P. Morgan Securities, Inc., issuance of $10 million of operating partnership units and the assumption of $74 million of existing indebtedness.

Gerard H. Sweeney, President & CEO of Brandywine Realty Trust, stated, "We are absolutely delighted to have closed on this milestone acquisition and to welcome the Rubenstein portfolio of outstanding people and office product to Brandywine. This transaction is a perfect fit for our long-term strategic plan and further strengthens Brandywine's penetration in our core markets. Our team did an excellent job closing this transaction and we are proud to have successfully integrated the Rubenstein portfolio into Brandywine's operations."

With this transaction, Brandywine now commands a leading position in the affluent western suburb of Radnor Township with the addition of Radnor Corporate Center (5 buildings, 733,000 square feet) and Radnor Financial Center (5 buildings, 967,000 square feet) to its portfolio. Located in the heart of the "Main Line", these assets total 1.7 million square feet and represent the majority of Class A office space in this market. The Radnor Corporate Center is a stabilized asset, currently 90% leased, while Radnor Financial Center presents an opportunity for significant growth.

In addition, Brandywine acquires One and Two Logan Square located in the Philadelphia central business district. Representing approximately 1.3 million square feet, the buildings are considered two of the finest trophy office towers. With occupancy of 99% and 93%, respectively, the assets are stabilized with long-term leases, minimal rollover, and offer spectacular views of the Philadelphia skyline as well as first-class amenities to its tenants. These buildings effectively complement Cira Centre, Brandywine's landmark project under development in University City.

Located in Wilmington, DE, One Rodney Square and 300 Delaware Avenue, represent approximately 520,000 square feet with current occupancies of 99% and 86%, respectively. These properties are in close proximity to Brandywine's Christina Gateway Project and provide an effective blend of stability and growth. This transaction further solidifies Brandywine as the largest office landlord in Delaware with nearly two million square feet of Class A office space.

This portfolio includes such notable tenants as Marsh USA, Wachovia, Morgan Stanley, PNC Bank, Pepper Hamilton, Bearing Point, TV Guide and Skadden Arps.

About Brandywine Realty Trust

Brandywine Realty Trust, with headquarters in Plymouth Meeting, PA and regional offices in Mt. Laurel, NJ and Richmond, VA, is one of the Mid-Atlantic region's largest full service real estate companies. Brandywine owns, manages or has an ownership interest in 293 office and industrial properties, aggregating 23.8 million square feet.

For more information, visit Brandywine's website at www.brandywinerealty.com.

Note: Certain statements in this release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, achievements or transactions of the Company and its affiliates or industry results to be materially different from any future results, performance, achievements or transactions expressed or implied by such forward-looking statements. Such risks, uncertainties and other factors relate to, among others, the Company's ability to lease vacant space and to renew or relet space under expiring leases at expected levels, the potential loss of major tenants, interest rate levels, the availability and terms of debt and equity financing, competition with other real estate companies for tenants and acquisitions, risks of real estate acquisitions, dispositions and developments, including cost overruns and construction delays, unanticipated operating costs and the effects of general and local economic and real estate conditions. Additional information or factors which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.