SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Filed pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 18, 2003
BRANDYWINE REALTY TRUST
(Exact name of registrant as specified in its charter)
MARYLAND 1-9106 23-2413352
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) file number) Identification Number)
401 Plymouth Road, Plymouth Meeting, Pennsylvania 19462
(Address of principal executive offices)
(610) 325-5600
(Registrant's telephone number, including area code)
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Item 5. Other Events.
Brandywine Realty Trust (the "Company") is filing updated financial
statements to reflect additional properties as discontinued operations under the
provisions of Statement of Financial Accounting Standards No. 144, Accounting
for the Impairment or Disposal of Long-Lived Assets ("SFAS 144") and to reflect
the adoption of Statement of Financial Accounting Standards No. 145, Rescission
of FASB Statements No. 4, 44, and 64, Amendment of FASB Statement No. 13, and
Technical Corrections ("SFAS 145").
During the six months ended June 30, 2003, the Company sold certain
properties and in accordance with SFAS 144 has reported revenue, expenses and
gain on sale from these properties as discontinued operations for the periods
presented in its quarterly report on Form 10-Q filed on August 13, 2003 for the
three- and six-month periods ended June 30, 2003. This reclassification has no
effect on the Company's reported net income or net income per share.
As of January 1, 2003, the Company adopted the provisions of SFAS 145
which requires the Company to reclassify an amount previously classified as an
extraordinary item, related to the write-off of unamortized deferred financing
costs in 2001, as interest expense. This reclassification has no effect on the
Company's reported net income or net income per share.
This Current Report on Form 8-K updates Items 6, 7 and 15(a)1 and 2 of
the Company's Form 10-K for the year ended December 31, 2002 and reflects those
properties sold and classified as held-for-sale during the six months ended June
30, 2003 as discontinued operations. All other Items of the Form 10-K remain
unchanged.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
BRANDYWINE REALTY TRUST
By: /s/ Gerard H. Sweeney
------------------------------------
Title: President and Chief Executive
Officer
Date: September 18, 2003
EXHIBIT INDEX
EXHIBIT NO. DOCUMENT DESCRIPTION
23.1 Consent of Independent Accountants
99.1 Selected Financial Data
Management's Discussion and Analysis of Financial Condition and
Results of Operations
Financial Statements and Schedules
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