Brandywine sells stake in Plymouth Meeting apartment development with Toll Bros.

Radnor-based Brandywine Realty Trust has sold its 50 percent stake in its Parc at Plymouth residential-development venture with Toll Bros. for $100.5 million.

The ownership interest was sold to Horsham-based luxury home builder Toll and an unidentified "institutional partner," Brandywine chief executive Jerry Sweeney said in an email.

The Parc at Plymouth development, consisting of 398 high-end rental units, is located near the Pennsylvania Turnpike's junction with Interstate 476 in Plymouth Meeting.

Brandywine received net cash proceeds of $27.2 million after closing costs and related debt payoff in exchange for its ownership stake, the company said in a release.