Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Brandywine Realty Trust First Quarter 2026 Earnings Call. [Operator Instructions]. Please be advised that today's conference is being recorded.

I would now like to turn the conference over to Jerry Sweeney, President and CEO. Please go ahead.

Jerry Sweeney
President, CEO & Trustee

Michelle, thank you very much. Good morning, everyone. Thank you for participating in our first quarter '26 earnings call. On today's call with me are Dan Palazzo, our Senior Vice President and Chief Accounting Officer; and Tom Wirth, our Executive Vice President and Chief Financial Officer.

Prior to beginning, certain information discussed on the call today may constitute forward-looking statements within the meaning of the Federal Securities Law. Although we believe the estimates reflected in these statements are based on reasonable assumptions, we cannot give assurance that the anticipated results will be achieved. For further information on factors that could impact our anticipated results, please reference our press release as well as our most recent annual and quarterly reports that we file with the SEC.

During our prepared comments today, Tom and I will briefly review first quarter results and frame out the key assumptions driving our '26 guidance. After that, Dan, Tom and I are available for any questions.

So to move into our presentation, from an operating portfolio management and liquidity standpoint, the first quarter produced results very much in line with our business plan. As