Brandywine Realty Trust Closes Rehabilitation Tax Credit Transaction With US Bancorp

Brandywine Realty Trust a real estate investment trust focused on the ownership, management and development of Class A, suburban and urban office properties in the mid-Atlantic region and other selected markets throughout the United States, announced today that it has closed a transaction with US Bancorp related to the historic rehabilitation of the 30th Street Post Office in Philadelphia, Pennsylvania, an 862,692 square foot office building which is 100% pre-leased to the Internal Revenue Service. US Bancorp has agreed to contribute approximately $67.9 million of project costs and has advanced $10.2 million of that contemporaneously with this closing. The remaining funds will be advanced in 2009 and 2010 subject to Brandywine’s achievement of certain construction milestones and its compliance with the federal rehabilitation regulations. In return for the investment, US Bancorp will, upon completion of the project in 2010, receive substantially all of the rehabilitation credits available under section 47 of the Internal Revenue Code.

Brandywine was advised on this transaction by the accounting firm of Reznick Group, P.C. and the law firm of DLA Piper LLC. US Bancorp was advised by the law firm of Nixon Peabody LLP.

About US Bancorp

US Bancorp is the holding company of US Bank N.A, the 6th largest commercial bank in the country with assets of $260 billion. US Bank operates 2,498 banking offices and 4,837 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment products to consumers, businesses and institutions. For more information, visit US Bank’s website at www.usbank.com.

About Brandywine Realty Trust

Brandywine Realty Trust is one of the largest, publicly-traded, full-service real estate investment trusts in the United States. Brandywine manages a primarily Class A, suburban and urban office portfolio aggregating approximately 39.8 million square feet, including 26.5 million square feet which it owns on a consolidated basis. For more information, visit Brandywine’s website at www.brandywinerealty.com.