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 of primarily urban, town center and suburban office space throughout Philadelphia; Washington, D.C.; Austin, Texas; Northern and Southern California; Richmond, Virginia; New Jersey and Delaware.
“Every day in the communities in which we live and work, 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 – including shareholders, employees, residents, businesses and local governments – benefit,” said Gerard H. Sweeney, President and CEO, Brandywine Realty Trust. “Being named NAIOP’s 2014 Developer of the Year is a great honor and validates the passion and dedication of our employees and the success of our development efforts.”
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 in the process of 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 also 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.
Demonstrating its ability to adapt to changing market conditions, Brandywine, Philadelphia’s third largest private parking owner, developed The Lift – Philadelphia’s first fully-automated and eco-friendly parking garage – which utilizes world-class technology reducing carbon emissions up to 83 percent and volatile organic compound (VOC) emissions up to 68 percent and preserves more open space due to its location on smaller land parcels.
“Brandywine’s unique ability to adapt to changing market conditions coupled with its financial stability, longstanding record of community engagement, commitment to the environment by establishing an award-winning sustainability program and dedication to industry service and leadership make it ‘the’ company to emulate across our industry and one in which we are proud to recognize as the 2014 Developer of the Year,” said Thomas J. Bisacquino, NAIOP President and CEO.
About the Award
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.
Brandywine was selected from an impressive slate of nominees and was evaluated by a team of seasoned developers on the following criteria: outstanding quality of projects and services; active support of the industry through NAIOP; financial consistency and stability; ability to adapt to market conditions; and support of the local community.
Since 1979, the Developer of the Year award has been presented to a development company that best exemplifies leadership and innovation. Past recipients include Vulcan Real Estate, The JBG Companies, CenterPoint Properties, Alter Group, Highwoods Properties, Liberty Property Trust, Ryan Companies, Bentall Capital, Prologis, Colonial Properties Trust and Lowe Enterprises.
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About NAIOP: NAIOP, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial, retail and mixed-use real estate. NAIOP comprises 19,000 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit naiop.org.