HERNDON, Va., June 24, 2014 /PRNewswire-USNewswire/ -- NAIOP, the Commercial Real Estate Development Association, has selected Brandywine Realty Trust (NYSE: BDN) as the 2014 Developer of the Year – the association's highest honor.
Headquartered in Radnor, Pennsylvania, Brandywine is a full-service commercial real estate services firm structured as a real estate investment trust that owns, leases and manages 283 properties and over 33 million square feet throughout Philadelphia; Washington, D.C.; Austin, Texas; Northern and Southern California; Richmond, Virginia; New Jersey and Delaware.
"Every day, Brandywine looks for ways to improve our portfolio, expand our environmentally-friendly footprint and help generate positive economic changes through innovative development practices and strategic partnerships so that everyone benefits," said Gerard H. Sweeney, President and CEO, Brandywine Realty Trust.
Currently working on more than $600 million in new development and construction, Brandywine has strategically expanded its portfolio into transit-oriented locations as well as in multifamily, student housing and retail sectors while achieving nearly $5 billion in capitalization and managing a capital recycling program resulting in almost $350 million of non-core dispositions in 2013.
As an active participant in Philadelphia's ongoing renaissance, Brandywine is completing its 2.7 million square foot Cira Centre South development with the recent announcement of the 49-story FMC Tower at Cira Center South, the City's first vertical neighborhood. Brandywine is continuing its partnership with other key stakeholders to transform the University City neighborhood with the recently announced joint venture with Amtrak and Drexel University to develop a Joint Master Plan for Philadelphia's 30th Street Station Precinct that could add more than 7 million square feet of office, retail and educational buildings in one of the Northeast Corridor's most accessible mass transit location.
"Brandywine's unique ability to adapt to changing market conditions coupled with its financial stability, longstanding record of community engagement and dedication to industry service and leadership make it a company to emulate," said Thomas Bisacquino, NAIOP President and CEO.
The 2014 Developer of the Year award will be presented on Tuesday, October 28, at NAIOP's Development '14: The Meeting for Commercial Real Estate in Denver, Colorado.
NAIOP, the Commercial Real Estate Development Association is the leading organization for developers, owners, investors and related professionals in office, industrial, retail and mixed-use real estate.
SOURCE NAIOP