布兰迪维因房地产信托 2025年度报告

(Mark One) ☒Annual Report Pursuant to Section13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2025OR Transition Report Pursuant to Section13 or 15(d) of the Securities Exchange Act of 1934 For the transition period fromtoBrandywine Realty TrustBrandywine Operating Partnership, L.P.(Exact name of registrant as specified in its charter) Maryland(Brandywine Realty Trust) 001-9106 2929 Arch StreetSuite 1800Philadelphia, PA 19104(Address of principal executive offices) (Zip Code) (610) 325-5600(Registrant’s telephone number, including area code) Securities registered pursuant to section 12(b) of the Act: Name of each exchange on which registered Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act. Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section 15(d) of the Act. Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past90days. Yes☒No☐Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of RegulationS-T(§232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required to submit such files). Yes☒No☐Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growthcompany. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule12b-2 of theExchange Act: Brandywine Realty Trust: Large accelerated filer☒Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐ Brandywine Operating Partnership, L.P.: Large accelerated filer☐Accelerated filer☐Non-accelerated filer☒Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Brandywine Realty TrustBrandywine Operating Partnership, L.P. Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control overfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. Brandywine Realty TrustYes☒No☐Brandywine Operating Partnership, L.P.Yes☒No☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect thecorrection of an error to previously issued financial statements. Brandywine Realty TrustBrandywine Operating Partnership, L.P. Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of theregistrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b) Brandywine Realty TrustBrandywine Operating Partnership, L.P. Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Brandywine Realty TrustYes☐No☒Brandywine Operating Partnership, L.P.Yes☐No☒ As of June30, 2025, the aggregate market value of the Common Shares of Beneficial Interest held by non-affiliates of Brandywine Realty Trust was $710,790,280based upon the last reported sale price of $4.29 per share on the New York Stock Exchange on June30, 2025. An aggregate of 173,711,848 Common Shares ofBeneficial Interest was outstanding as of February18, 2026. As of June30, 2025, the aggregate market value of the 515,595 common units of limited partnership (“Units”) held by non-affiliates of Brandywine OperatingPartnership, L.P. was $2,211,903 based upon the last reported sale price of $4.29 per share on the New York Stock Exchange on June30, 2025 of the Common Shares ofBeneficial Interest of Brandywine Realty Trust, the sole general partner of Brandywine Operating Partnership, L.P. (For this computation, the Registrant has excludedthe market value of all Units beneficially owned by Brandywine Realty Trust.) Documents Incorporated By Reference EXPLANATORY NOTE This report combines the annual reports on Form 10-K for the year ended December31, 2025 of Brandywine Realty Trust (the “ParentCompany”) and Brandywine Operating Partnership, L.P. (the “Operating Partners