SAN DIEGO, Oct. 1 /PRNewswire-FirstCall/ -- BioMed Realty Trust, Inc.
(NYSE: BMR) today announced an underwritten public offering of 7,500,000
shares of its common stock. The last reported sale price of BioMed's common
stock on the New York Stock Exchange on September 30, 2008 was $26.45. The
offering is expected to close on or about October 6, 2008, subject to
customary closing conditions. BioMed expects to use the net proceeds of the
offering to repay a portion of the outstanding indebtedness under its
$600.0 million unsecured line of credit and for other general corporate and
working capital purposes. All of the shares are being sold by the company.
UBS Investment Bank is acting as the sole underwriter for the offering.
BioMed has also granted the underwriter a 30-day option to purchase up to an
additional 1,125,000 shares to cover over-allotments, if any.
The registration statement relating to these securities has become
effective by rule of the Securities and Exchange Commission. This press
release shall not constitute an offer to sell or the solicitation of an offer
to buy any of BioMed's common stock, nor shall there be any sale of such
common stock in any state or jurisdiction in which such offer, solicitation,
or sale would be unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction.
A prospectus supplement and accompanying prospectus describing the terms
of the offering will be filed with the Securities and Exchange Commission.
When available, copies of the prospectus supplement and the accompanying
prospectus may be obtained from
UBS Investment Bank
299 Park Avenue
New York, NY 10171
or by telephone toll free at 888-827-7275, extension 3884.
About BioMed Realty Trust
BioMed Realty Trust, Inc. is a real estate investment trust (REIT) focused
on Providing Real Estate to the Life Science Industry(R). The company's
tenants primarily include biotechnology and pharmaceutical companies,
scientific research institutions, government agencies and other entities
involved in the life science industry. BioMed Realty Trust owns or has
interests in 69 properties, representing 112 buildings with approximately
10.4 million rentable square feet, including approximately 1.9 million square
feet of development in progress. The company also owns undeveloped land
parcels adjacent to existing properties that it estimates can support up to
1.4 million rentable square feet. The company's properties are located
predominantly in the major U.S. life science markets of Boston, San Diego, San
Francisco, Seattle, Maryland, Pennsylvania and New York/New Jersey, which have
well-established reputations as centers for scientific research. Additional
information is available at http://www.biomedrealty.com.
This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995 based on current
expectations, forecasts and assumptions that involve risks and uncertainties
that could cause actual outcomes and results to differ materially. These risks
and uncertainties include, without limitation: general risks affecting the
real estate industry (including, without limitation, the inability to enter
into or renew leases, dependence on tenants' financial condition, and
competition from other developers, owners and operators of real estate);
adverse economic or real estate developments in the life science industry or
the company's target markets; risks associated with the availability and terms
of financing and the use of debt to fund acquisitions and developments;
failure to manage effectively the company's growth and expansion into new
markets, or to complete or integrate acquisitions and developments
successfully; risks and uncertainties affecting property development and
construction; risks associated with downturns in the national and local
economies, increases in interest rates, and volatility in the securities
markets; potential liability for uninsured losses and environmental
contamination; risks associated with the company's potential failure to
qualify as a REIT under the Internal Revenue Code of 1986, as amended, and
possible adverse changes in tax and environmental laws; and risks associated
with the company's dependence on key personnel whose continued service is not
guaranteed. For a further list and description of such risks and
uncertainties, see the reports filed by the company with the Securities and
Exchange Commission, including the company's most recent annual report on Form
10-K and quarterly reports on Form 10-Q. The company disclaims any intention
or obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
SOURCE BioMed Realty Trust, Inc.