Brandywine Realty Trust, a major U.S. real estate trust, has confirmed a cyber attack in which data was stolen from its network.
Philadelphia-based Brandywine said in a regulatory filing Tuesday that the cybersecurity incident was unauthorized access to its internal IT systems and “deployment of encryption,” consistent with a ransomware attack. explained.
Brandywine said the cyberattack disrupted the company's business applications that support its operations and corporate functions, including its financial reporting systems.
The company said it believed it had shut down some of its systems and contained the activity. The company confirmed that the hackers exfiltrated files from its systems, but is still investigating whether any confidential or personal information was exfiltrated.
Brandywine is one of the largest real estate trusts (REITs) in the United States, with a portfolio of approximately 70 properties across Austin, Philadelphia, and Washington, D.C., as of its last earnings report in April.
The company's largest tenants reportedly include IBM, Spark Therapeutics, and Comcast.
Since the introduction of new rules in December, publicly traded U.S. companies are required to disclose to investors cybersecurity events that could have a material impact on their business. At the time of the filing, Brandywine said it did not believe the incident was “likely to have a material impact” on its business.