Brandywine Realty Trust and Toll Brothers Announce Residential Joint Venture in Plymouth Meeting, PA

 Brandywine Realty Trust and Toll Brothers Announce Residential Joint Venture
                           in Plymouth Meeting, PA

PR Newswire

RADNOR, Pa., Sept. 11, 2012

RADNOR, Pa., Sept. 11, 2012 /PRNewswire/ --Brandywine Realty Trust (NYSE:
BDN)and Toll Brothers, Inc. (NYSE: TOL)announced today thatthey have formed
a joint venture to build 398 residential units in seven buildings at 134
Plymouth Road, Plymouth Meeting, PA. The project will feature a mix of one
and two bedroom luxury rental residenceslocated on a 20-acre site that will
have 45% open space. The project will have a first-class amenity package
including a 10,000 square foot club house, fitness center,resort-style pool,
dogpark and walking trail, and will incorporate many sustainability features
including rain gardens, white roofs, electric car chargers, drought-tolerant
landscaping, water saving fixturesand energy efficientdesign.

The property is in an excellent location with immediate access to the
mid-county interchange, the region's major highways and is just over 16 miles
from Center City Philadelphia. Area demographics are outstanding and the
project is located near suburban Philadelphia's largest employment base. All
essential shopping, dining, healthcare, lifestyle, and transportation needs
are located within one to three miles of the site.

Toll Brothers andBrandywinewill each own a50% interestin the Plymouth
Meeting complex, and will have joint decision making responsibility.
Brandywine and Toll Brothers have joint development responsibilities with Toll
Brothers providing property management and construction management services.
Brandywine will contribute its land parcel in connection with the venture and
Toll Brothers will contribute cash. Total project costs inclusive of land are
estimated to be $77.0 million. Site engineering, planning, and architecture
have begun and the groundbreaking is projected to occur in the first half of
2013.

"Brandywine is one of the most respected names in the real estate community
and we look forward to developing this project with them," stated Douglas C.
Yearley, Jr., Chief Executive Officer of Toll Brothers. "We are pleased to
bring to this partnership our residential experience and the Toll Brothers
luxury brand. We are very excited by this opportunity."

"We are delighted to commence this transaction withToll Brothers," stated
Gerard H. Sweeney, President and Chief Executive Officer of Brandywine Realty
Trust. "They are a premier developer of residential properties and we look
forward to continued expansion of our relationship. This transaction is
consistent with our business plan goal of monetizing up to 35% of our existing
land bank over the next several years and we are on track to achieve that
goal."

About Brandywine Realty Trust

Brandywine Realty Trust is one of the largest, publicly traded, full-service,
integrated real estate companies in the United States. Organized as a real
estate investment trust and operating in select markets, Brandywine owns,
leases and manages an urban, town center and suburban office portfolio
comprising 305 properties and 34.5 million square feet, including 230
properties and 24.9 million square feet owned on a consolidated basis
(including 11 properties and 0.5 million square feet held for sale) and 53
properties and 6.5 million square feet in 18 unconsolidated real estate
ventures as of June 30, 2012. For more information, please visit
www.brandywinerealty.com.

About Toll Brothers

Toll Brothers, Inc. is the nation's leading builder of luxury homes. The
Company began business in 1967 and became a public company in 1986. Its common
stock is listed on the New York Stock Exchange under the symbol "TOL." The
Company serves move-up, empty-nester, active-adult, and second-home buyers and
operates in 20 states: Arizona, California, Colorado, Connecticut, Delaware,
Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New
Jersey, New York, North Carolina, Pennsylvania, South Carolina, Texas,
Virginia, and Washington.

Toll Brothers builds an array of luxury residential communities, principally
on land it develops and improves: single-family detached and attached home
communities, master planned resort-style golf communities, and urban low-,
mid- and high-rise communities. The Company operates its own architectural,
engineering, mortgage, title, land development and land sale, golf course
development and management, home security, and landscape subsidiaries. The
Company also operates its own lumber distribution, house component assembly,
and manufacturing operations.The Company acquires and develops commercial
properties through Toll Commercial and its affiliate, Toll Brothers Realty
Trust, and purchases distressed loan and real estate asset portfolios through
its wholly owned subsidiary, Gibraltar Capital and Asset Management.

Toll Brothers is honored to have won the three most coveted awards in the
homebuilding industry: America's Best Builder from the National Association of
Home Builders, the National Housing Quality Award, and Builder of the
Year.Toll Brothers proudly supports the communities in which it builds; among
other philanthropic pursuits, the Company sponsors the Toll Brothers
Metropolitan Opera International Radio Network, bringing Met opera to
neighborhoods throughout the world. For more information, visit
www.tollbrothers.com.

Forward-Looking Statements

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, including our Form 10-K for the year ended December 31,
2011. The Company assumes no obligation to update or supplement
forward-looking statements that become untrue because of subsequent events.

SOURCE Brandywine Realty Trust

Website: http://www.brandywinerealty.com
Contact: Media / Investors, Marge Boccuti, Manager, Investor Relations,
+1-610-832-7702, marge.boccuti@bdnreit.com
 
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