Brandywine Actual Property (BDN) Belief introduced the completion of two important gross sales inside the three way partnership portfolio: 4040 Wilson, a mixed-use growth in Arlington, Virginia, and the Dabney and Brittons Hill portfolio in Richmond, Virginia. These transactions generated mixed product sales proceeds of $265.8 million, advancing Brandywine’s strategic targets to enhance its aggressive place, cut back ahead capital commitments and generate extra liquidity for future investments . 4040 Wilson, situated within the Ballston submarket of Arlington, bought for $190.5 million. The property has 405,000 sq. ft of workplace, retail and residential area, in addition to 494 parking areas. 4040 Wilson was 96% leased and 94% leased on the time of sale. The Dabney and Brittons Hill portfolio, representing 14 industrial/flex buildings totaling 643,000 sq. ft, was bought for $66.8 million, producing roughly $15.5 million in internet proceeds to Brandywine for its 50% curiosity. As a part of the sale, Brandywine bought an 11-acre parcel of land operated below a long-term parking lease valued at $8.5 million. The belongings had been absolutely leased at closing. Along with the beforehand disclosed asset gross sales, the Firm generated product sales proceeds of roughly $310 million and internet money proceeds of $191 million. Proceeds from these transactions will additional strengthen Brandywine’s steadiness sheet and help reinvestment in strategic initiatives that align with the corporate’s imaginative and prescient and market technique.
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