Brandywine Nabs 2 Philly Office Towers For $331M

Law360, Philadelphia (September 5, 2013, 2:18 PM EDT) -- Brandywine Realty Trust announced Wednesday that it was making a $331.8 million play to acquire a pair of 41-story downtown Philadelphia office towers in a deal that would see the company acquire two mortgages on the buildings from Thomas Properties Group Inc.

The deal, which expands Brandywine’s already extensive holdings in Center City, comes as the Florida-based Parkway Properties Inc. executes its acquisition of Thomas in a stock-for-stock deal valued at approximately $1.2 billion.

“This transaction enables us to acquire two of Philadelphia’s trophy-class [commercial business...
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