fwp
 

Filed Pursuant to Rule 433
Registration No. 333-131255
(BRANDYWINE OPERATING PARTNERSHIP LOGO)   PRICING TERM SHEET, dated April 24, 2007
$300,000,000 5.700% Guaranteed Notes Due 2017
         
Issuer:
   Brandywine Operating Partnership, L.P.    
 
        
Guarantor:
   Brandywine Realty Trust    
 
        
Size:
   $300,000,000    
 
        
Maturity:
   May 1, 2017    
 
        
Coupon (Interest Rate):
   5.700%    
 
        
Yield to Maturity:
   5.722%    
 
        
Spread to Benchmark Treasury:
   1.10%; T + 110 basis points    
 
        
Benchmark Treasury:
   4.625% due February 2017    
 
        
Benchmark Treasury Price and Yield:
   100-00+; 4.622%    
 
        
Interest Payment Dates:
   May 1 and November 1, commencing on November 1, 2007
 
        
Day Count Convention:
   30 / 360    
 
        
Redemption Provision:
   Make-whole call at T + 20 basis points    
 
        
Price to Public:
   99.834%    
 
        
Gross Proceeds:
   $299,502,000    
 
        
Settlement Date:
   T+4; April 30, 2007    
 
        
Denominations:
   $5,000 x $1,000    
 
        
CUSIP:
   105340AJ2    
 
        
Joint Book-Running Managers:
       Underwriting
 
        
 
   Banc of America Securities LLC   $88,000,000
 
        
 
   J.P. Morgan Securities Inc.   $88,000,000
 
        
 
   Wachovia Capital Markets, LLC   $88,000,000
 
        
Co-Managers:
        
 
        
 
   BMO Capital Markets Corp.   $4,500,000
 
        
 
   BNY Capital Markets Inc.   $4,500,000
 
        
 
   Citigroup Global Markets, Inc.   $4,500,000
 
        
 
   Deutsche Bank Securities Inc.   $4,500,000
 
        
 
   Greenwich Capital Markets, Inc.   $4,500,000
 
        
 
   Morgan Keegan & Company, Inc.   $4,500,000
 
        
 
   Piper Jaffrey & Co.   $4,500,000
 
        
 
   RBC Capital Markets Corporation   $4,500,000
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Investor Relations, 610-325-5600 or emailing [email protected] at Brandywine Realty Trust.
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