SAN DIEGO, June 22 /PRNewswire-FirstCall/ -- BioMed Realty Trust, Inc.
(NYSE: BMR) announced today the closing of a new $18 million loan secured by
the company's 9865 Towne Centre Drive property in San Diego.
Construction of 9865 Towne Centre Drive, a state-of-the-art laboratory and
office facility, was completed in the second quarter of 2008, and the building
has since received LEED(R) Silver certification for Core and Shell from the
U.S. Green Building Council. The facility was built for, and is fully leased
to, Illumina, Inc., one of San Diego's largest biotechnology companies, which
is focused on developing, manufacturing and marketing next-generation tools
for the large-scale analysis of genetic variation and biological function.
Illumina leases a total of approximately 193,000 square feet through October
2023 at the Towne Centre Drive campus in San Diego.
Kent Griffin, BioMed's President and Chief Financial Officer, commented,
"We are pleased with our continued support from Washington Capital Management,
Inc. and the successful completion of this financing, which was negotiated and
completed in the midst of an extremely challenging global credit market
environment. Our ability to secure funding for this property is further
testament to BioMed's proven business strategy of developing, owning and
operating world-class research facilities in the core life science markets for
premier biotechnology and pharmaceutical companies."
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 10.5
million rentable square feet, including approximately 640,000 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.
The Leadership in Energy and Environmental Design (LEED(R)) Green Building
Rating System(TM) encourages and accelerates global adoption of sustainable
green building and development practices through the creation and
implementation of universally understood and accepted tools and performance
criteria. LEED(R) is a third-party certification program and the nationally
accepted benchmark for the design, construction and operation of high
performance green buildings. LEED(R) gives building owners and operators the
tools they need to have an immediate and measurable impact on their buildings'
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, the use of debt to fund acquisitions and developments, and the
ability to refinance indebtedness as it comes due; 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.
Rick Howe, Director, Corporate Communications of BioMed Realty
Web Site: http://www.biomedrealty.com