Brandywine Realty Trust of Radnor, which owned 261 properties as of the end of last year, plans to sell $250 million worth of notes maturing in 2017, according to a filing today with the Securities & Exchange Commission.
The debt will be sold though Brandywine Operating Partnership LP, which the trust controls. Bank of America Corp., JPMorgan Chase & Co, and Wachovia Corp. are the joint managers for the sale.
Brandywine said it will use the proceeds to reduce borrowings under its revolving credit facility, the company said. As of Dec. 31, Brandywine and its subsidiaries had debt of about $2.3 billion.
Shares of Brandywine were down 16 cents just after noon at $33.63 on the New York Stock Exchange.