Brandewijn Real Estate (BDN) Trust announced the completion of two significant sales within the joint venture portfolio: 4040 Wilson, a mixed-use development in Arlington, VA, and the Dabney and Brittons Hill portfolio in Richmond, VA. These transactions generated combined gross sales proceeds of $265.8 million, furthering Brandywine’s strategic objectives to improve competitiveness, reduce future capital obligations and generate incremental liquidity for future investments. 4040 Wilson, located in Arlington’s Ballston submarket, sold for $190.5 million. The property features 405,000 square feet of office, retail and residential space, as well as 494 parking spaces. 4040 Wilson was 96% leased and 94% rented at the time of sale. The Dabney and Brittons Hill portfolio, which represents 14 industrial/flex buildings totaling 643,000 square feet, sold for $66.8 million, generating approximately $15.5 million in net proceeds to Brandywine for its 50% ownership interest. In connection with the sale, Brandywine sold an 11-acre parcel with a long-term parking lease valued at $8.5 million. At closing, the assets were fully leased. Together with the previously disclosed asset sales, the company generated gross sales proceeds of approximately $310 million and $191 million in net cash proceeds. Proceeds from these transactions will further strengthen Brandywine’s balance sheet and support reinvestments in strategic initiatives that align with the company’s vision and go-to-market strategy.
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