Exhibit

No.

99.1

Unaudited pro forma consolidated balance sheets of Brandywine Realty Trust and Brandywine Operating Partnership, L.P. as of December 31, 2016 and unaudited pro forma consolidated statements of operations of Brandywine Realty Trust and Brandywine Operating Partnership, L.P. for the year ended December 31, 2016, including the notes thereto.

Property

No. of Buildings

Square Feet

200 Lake Drive East

1

76,352

210 Lake Drive East

1

60,604

220 Lake Drive East

1

78,509

Total

3

215,465

As Reported (A)

Properties Held for Sale (B)

Concord Properties Sale (C)

Woodland Falls Properties Sale (D)

Reported as Pro Forma

ASSETS

Real estate investments:

Operating properties

$

3,586,295

$

51,871

$

(51,871

)

$

(28,516

)

$

3,557,779

Accumulated depreciation

(852,476

)

(20,981

)

20,981

11,706

(840,770

)

Operating real estate investments, net

2,733,819

30,890

(30,890

)

(16,810

)

2,717,009

Construction-in-progress

297,462

-

-

(34

)

297,428

Land held for development

150,970

-

-

-

150,970

Total real estate investments, net

3,182,251

30,890

(30,890

)

(16,844

)

3,165,407

Assets held for sale, net

41,718

(30,890

)

-

-

10,828

Cash and cash equivalents

193,919

-

-

17,771

211,690

Accounts receivable, net

12,446

-

-

-

12,446

Accrued rent receivable, net

149,624

-

(506

)

(742

)

148,376

Investment in real estate ventures, equity method

281,331

-

-

-

281,331

Deferred costs, net

91,342

-

(513

)

(891

)

89,938

Intangible assets, net

72,478

-

-

-

72,478

Other assets

74,104

-

31,919

(47

)

105,976

Total assets

$

4,099,213

$

-

$

10

$

(753

)

$

4,098,470

LIABILITIES AND BENEFICIARIES' EQUITY

Mortgage notes payable, net

$

321,549

$

-

$

-

$

-

$

321,549

Unsecured term loans, net

248,099

-

-

-

248,099

Unsecured senior notes, net

1,443,464

-

-

-

1,443,464

Accounts payable and accrued expenses

103,404

-

-

-

103,404

Distributions payable

30,032

-

-

-

30,032

Deferred income, gains and rent

31,620

-

-

-

31,620

Acquired lease intangibles, net

18,119

-

-

-

18,119

Liabilities related to assets held for sale

81

(8

)

-

-

73

Other liabilities

19,408

8

-

-

19,416

Total liabilities

$

2,215,776

$

-

$

-

$

-

$

2,215,776

Commitments and contingencies

Brandywine Realty Trust's equity

Preferred shares (shares authorized - 20,000,000):

6.90% Series E preferred shares, $0.01 par value; issued and outstanding- 4,000,000

40

-

-

-

40

Common shares of Brandywine Realty Trust's beneficial interest, $0.01 par value; shares authorized 400,000,000; 175,140,760 issued and outstanding

1,752

-

-

-

1,752

Additional paid-in capital

3,258,870

-

-

-

3,258,870

Deferred compensation payable in common shares

13,684

-

-

-

13,684

Common shares in grantor trust

(13,684

)

-

-

-

(13,684

)

Cumulative earnings

539,319

-

10

(747

)

538,582

Accumulated other comprehensive loss

(1,745

)

-

-

-

(1,745

)

Cumulative distributions

(1,931,892

)

-

-

-

(1,931,892

)

Total Brandywine Realty Trust's equity

1,866,344

-

10

(747

)

1,865,607

Non-controlling interests

17,093

-

-

(6

)

17,087

Total beneficiaries' equity

1,883,437

-

10

(753

)

1,882,694

Total liabilities and beneficiaries' equity

$

4,099,213

$

-

$

10

$

(753

)

$

4,098,470

As Reported

(E)

Woodland Falls Properties Sale

(F)

Other

(G)

Pro Forma

Revenue

Rents

$

421,505

$

(2,694

)

$

(15,524

)

$

403,287

Tenant reimbursements

70,629

(2,105

)

(2,501

)

66,023

Termination fees

2,339

(35

)

(13

)

2,291

Third party management fees, labor reimbursement and leasing

26,674

-

444

27,118

Other

4,316

-

(229

)

4,087

Total revenue

525,463

(4,834

)

(17,823

)

502,806

Operating expenses:

Property operating expenses

152,926

(1,660

)

(8,020

)

143,246

Real estate taxes

46,252

(735

)

(1,141

)

44,376

Third party management expenses

10,270

-

-

10,270

Depreciation and amortization

189,676

(1,727

)

(3,590

)

184,359

General and administrative expenses

26,596

-

-

26,596

Provision for impairment

40,517

-

-

40,517

Total operating expenses

466,237

(4,122

)

(12,751

)

449,364

Operating income

59,226

(712

)

(5,072

)

53,442

Other income (expense):

Interest income

1,236

-

-

1,236

Interest expense

(84,708

)

-

(380

)

(85,088

)

Interest expense - amortization of deferred financing costs

(2,696

)

-

(91

)

(2,787

)

Interest expense - financing obligation

(679

)

-

-

(679

)

Equity in loss of real estate ventures

(11,503

)

-

(2,005

)

(13,508

)

Net gain on disposition of real estate

116,983

-

-

116,983

Net gain on sale of undepreciated real estate

9,232

-

-

9,232

Net gain on real estate venture transactions

20,000

-

-

20,000

Loss on early extinguishment of debt

(66,590

)

-

-

(66,590

)

Net income

40,501

(712

)

(7,548

)

32,241

Net income attributable to non-controlling interests

(310

)

6

63

(241

)

Net income attributable to Brandywine Realty Trust

40,191

(706

)

(7,485

)

32,000

Distribution to preferred shareholders

(6,900

)

-

-

(6,900

)

Nonforfeitable dividends allocated to unvested restricted

   shareholders

(341

)

-

-

(341

)

Net income attributable to common shareholders of

   Brandywine Realty Trust

$

32,950

$

(706

)

$

(7,485

)

$

24,759

Basic earnings per common share:

Continuing operations

$

0.19

$

0.14

Diluted earnings per common share

Continuing operations

$

0.19

$

0.14

Basic weighted average shares outstanding

175,018,163

175,018,163

Diluted weighted average shares outstanding

176,010,814

176,010,814

As Reported (A)

Properties Held for Sale (B)

Concord Properties Sale (C)

Woodland Falls Properties Sale (D)

Reported as Pro Forma

ASSETS

Real estate investments:

Operating properties

$

3,586,295

$

51,871

$

(51,871

)

$

(28,516

)

$

3,557,779

Accumulated depreciation

(852,476

)

(20,981

)

20,981

11,706

(840,770

)

Operating real estate investments, net

2,733,819

30,890

(30,890

)

(16,810

)

2,717,009

Construction-in-progress

297,462

-

-

(34

)

297,428

Land held for development

150,970

-

-

-

150,970

Total real estate investments, net

3,182,251

30,890

(30,890

)

(16,844

)

3,165,407

Assets held for sale, net

41,718

(30,890

)

-

-

10,828

Cash and cash equivalents

193,919

-

-

17,771

211,690

Accounts receivable, net

12,446

-

-

-

12,446

Accrued rent receivable, net

149,624

-

(506

)

(742

)

148,376

Investment in real estate ventures, equity method

281,331

-

-

-

281,331

Deferred costs, net

91,342

-

(513

)

(891

)

89,938

Intangible assets, net

72,478

-

-

-

72,478

Other assets

74,104

-

31,919

(47

)

105,976

Total assets

$

4,099,213

$

-

$

10

$

(753

)

$

4,098,470

LIABILITIES AND BENEFICIARIES' EQUITY

Mortgage notes payable, net

$

321,549

$

-

$

-

$

-

$

321,549

Unsecured term loans, net

248,099

-

-

-

248,099

Unsecured senior notes, net

1,443,464

-

-

-

1,443,464

Accounts payable and accrued expenses

103,404

-

-

-

103,404

Distributions payable

30,032

-

-

-

30,032

Deferred income, gains and rent

31,620

-

-

-

31,620

Acquired lease intangibles, net

18,119

-

-

-

18,119

Liabilities related to assets held for sale

81

(8

)

-

-

73

Other liabilities

19,408

8

-

-

19,416

Total liabilities

$

2,215,776

$

-

$

-

$

-

$

2,215,776

Commitments and contingencies

Redeemable limited partnership units at redemption value; 1,479,799 issued and outstanding

23,795

-

-

-

23,795

Brandywine Operating Partnership, L.P.'s equity:

6.90% Series E-Linked Preferred Mirror Units; issued and outstanding- 4,000,000

96,850

-

-

-

96,850

General Partnership Capital; 175,140,760 units issued and outstanding

1,762,764

-

10

(753

)

1,762,021

Accumulated other comprehensive loss

(2,122

)

-

-

-

(2,122

)

Total Brandywine Operating Partnership, L.P.'s equity

1,857,492

-

10

(753

)

1,856,749

Non-controlling interest - consolidated real estate ventures

2,150

-

-

-

2,150

Total partners' equity

1,859,642

-

10

(753

)

1,858,899

Total liabilities and partners' equity

$

4,099,213

$

-

$

10

$

(753

)

$

4,098,470

As Reported

(E)

Woodland Falls Properties Sale

(F)

Other

(G)

Pro Forma

Revenue

Rents

$

421,505

$

(2,694

)

$

(15,524

)

$

403,287

Tenant reimbursements

70,629

(2,105

)

(2,501

)

66,023

Termination fees

2,339

(35

)

(13

)

2,291

Third party management fees, labor reimbursement and leasing

26,674

-

444

27,118

Other

4,316

-

(229

)

4,087

Total revenue

525,463

(4,834

)

(17,823

)

502,806

Operating expenses:

Property operating expenses

152,926

(1,660

)

(8,020

)

143,246

Real estate taxes

46,252

(735

)

(1,141

)

44,376

Third party management expenses

10,270

-

-

10,270

Depreciation and amortization

189,676

(1,727

)

(3,590

)

184,359

General and administrative expenses

26,596

-

-

26,596

Provision for impairment

40,517

-

-

40,517

Total operating expenses

466,237

(4,122

)

(12,751

)

449,364

Operating income

59,226

(712

)

(5,072

)

53,442

Other income (expense):

Interest income

1,236

-

-

1,236

Interest expense

(84,708

)

-

(380

)

(85,088

)

Interest expense - amortization of deferred financing costs

(2,696

)

-

(91

)

(2,787

)

Interest expense - financing obligation

(679

)

-

-

(679

)

Equity in loss of real estate ventures

(11,503

)

-

(2,005

)

(13,508

)

Net gain on disposition of real estate

116,983

-

-

116,983

Net gain on sale of undepreciated real estate

9,232

-

-

9,232

Net gain on real estate venture transactions

20,000

-

-

20,000

Loss on early extinguishment of debt

(66,590

)

-

-

(66,590

)

Net income

40,501

(712

)

(7,548

)

32,241

Net income from continuing operations attributable to non-controlling interests-consolidated real estate ventures

(15

)

-

-

(15

)

Net income attributable to Brandywine Operating

   Partnership

40,486

(712

)

(7,548

)

32,226

Distribution to preferred unitholders

(6,900

)

-

-

(6,900

)

Amounts allocated to unvested restricted unitholders

(341

)

-

-

(341

)

Net income attributable to Common Partnership Unitholders of

   Brandywine Operating Partnership, L.P.

$

33,245

$

(712

)

$

(7,548

)

$

24,985

Basic income per Common Partnership Unit:

Continuing operations

$

0.19

$

0.14

Diluted income per Common Partnership Unit:

Continuing operations

$

0.19

$

0.14

Basic weighted average common partnership units outstanding

176,523,800

176,523,800

Diluted weighted average common partnership units

   outstanding

177,516,451

177,516,451

(A)

Reflects the Company's consolidated balance sheet as of December 31, 2016, as contained in the historical financial statements and notes thereto presented in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016.

(B)

Represents the reversal of the held for sale classification of two office properties, located in Concord, California, (“Concord Properties”), which were classified as held for sale as of December 31, 2016 and sold on February 2, 2017.

(C)

Represents the elimination of the Concord Properties. See Exhibit 99.1 to the Form 8-K, filed on February 7, 2017, for further details related to this transaction.

(D)

The following table represents the estimated loss on the disposition of the Woodland Falls Properties as if the disposition occurred as of December 31, 2016 (in thousands):  

Sale price of the Woodland Falls Properties

$

19,000

    Less: Actual closing costs and prorations

(1,229

)

Net proceeds

$

17,771

    Less: Basis of Woodland Falls Properties as of December 31, 2016

(18,524

)

Estimated loss on disposition (i)

$

(753

)

    Less: Estimated loss on disposition attributable to non-controlling interest

6

Estimated loss on disposition attributable to shareholders

$

(747

)

(i)

During the fourth quarter of 2016, the Company recorded a provision for impairment of $7.3 million on the Woodland Falls Properties. The Company expects to record a $0.3 million loss on sale during the first quarter of 2017.

(E)

Reflects the consolidated results of operations for the Company for the year ended December 31, 2016, as contained in the financial statements contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2016.

(F)

Represents revenues and expenses of the operations of the Woodland Falls Properties for the year ended December 31, 2016.

(G)

Represents the elimination of the actual historical results of operations of the other dispositions, as well as certain pro forma adjustments from the formation of an unconsolidated real estate venture, occurring during 2016 for transactions that were significant under Regulation S-X as if the transactions occurred on January 1, 2016, which includes:

•

the sale of our equity interests in a property located in Philadelphia, Pennsylvania commonly known as 30^th Street Main Post Office on February 5, 2016 (previously furnished as an exhibit to the Form 8-K filed on February 10, 2016 and incorporated by reference herein);

•

the contribution of 58 properties located in the Pennsylvania Suburbs, New Jersey/Delaware, Metropolitan Washington, D.C. and Richmond, Virginia to an unconsolidated real estate venture in a transaction referred to by the Company as the Och-Ziff Sale (previously furnished as an exhibit to the Form 8-K filed on February 10, 2016 and incorporated by reference herein); and

•

the sale of a two property portfolio located in Concord, California on February 2, 2017 (previously furnished as an exhibit to the Form 8-K filed on February 7, 2017 and incorporated by reference herein).