Brandywine Realty Trust (BDN) Presents at Citi's Miami Global Property CEO Conference 2026 Transcript

SA Transcripts158.77K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call Brandywine Realty Trust (BDN) Citi's Miami Global Property CEO Conference 2026 March 3, 2026 7:30 AM EST Company Participants Jerry Sweeney - President, CEO & Trustee Conference Call Participants Seth Bergey - Citigroup Inc., Research Division Presentation Seth BergeyCitigroup Inc., Research Division Welcome to Day 2 of Citi's 2026 Global Property CEO Conference. I'm Seth Bergey with Citi Research, and we are pleased to have with us Brandywine and CEO, Jerry Sweeney. This session is for Citi clients only and disclosures have been made available at the corporate access desk. To ask a question, you can raise your hand or go to liveqa.com and enter code GPC26 to submit questions. Jerry, we will now turn it over to you to introduce your company and team, provide any opening remarks and tell the audience the top reasons an investor should buy your stock today, and then we can dive into Q&A. Jerry SweeneyPresident, CEO & Trustee Good morning, Seth. Good morning, everyone. Thanks for joining. With me today is Tom Wirth, who is our Executive Vice President and Chief Financial Officer. I think the -- to start off, I mean, I think the top reasons to own Brandywine stock today are a high-quality operating portfolio in ever-improving markets, our relative valuation and our balance sheet improvement program, which will be implemented this year as far as our balance sheet simplification goes. I think just in terms of overview comments, look, operationally, the company is on very solid footing with room to accelerate leasing as conditions continue to improve. Our 2026 business plan anticipates our occupancy levels will be improved from '25 by about 120 basis points. We expect to have positive absorption in 2026. We continue to have a positive GAAP mark-to-market company-wide of 5% to 7% in our core markets of Philadelphia and the Pennsylvania suburbs, which