Brandywine Realty Trust, Plymouth Meeting, Pa., is selling 2.3 million shares of common stock to Bear, Stearns & Co. in an offering that is expected to bring in $60 million for the office and industrial real estate investment trust.The proceeds will be used to pay down drawings under its revolving credit facility that were used last December to fund the approximately $20 million acquisition of a 112,000-square-foot New Jersey office property and to partly fund a redemption of its 8.75% preferred shares, the REIT said. The underwriter of the offering has the option of purchasing an additional 345,000 shares to cover any overallotments.
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