SAN DIEGO, Dec. 7 /PRNewswire-FirstCall/ -- BioMed Realty Trust, Inc. (NYSE: BMR) announced today that the company has increased the borrowing capacity on its unsecured line of credit by an additional $55 million. With the $65 million increase in availability announced last month, BioMed has raised the aggregate capacity under its unsecured line of credit by $120 million to $720 million, with no other material changes to the terms of the facility.
Kent Griffin, BioMed's President and Chief Financial Officer, remarked, "We are pleased with the commitments made by our existing lending partners and three new lenders to our expanded credit facility, further enhancing our liquidity profile. The quality and depth of our lending team, and their strong, consistent support of BioMed as a sponsor in a challenging credit environment, exemplifies our focus on maintaining long-term financing relationships and being prudent stewards of our capital."
Deutsche Bank Trust Company Americas, Morgan Stanley Bank, N.A. and UBS Loan Finance LLC have joined as additional lenders under the credit facility. In addition, the company obtained increased lending commitments from certain existing lenders under the credit facility, including Credit Suisse AG, Cayman Islands Branch, KeyBank National Association, Raymond James Bank, FSB, RBS Citizens, N.A., d/b/a Charter One, and Royal Bank of Canada.
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®. 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 owns or has interests in 69 properties, representing 114 buildings with approximately 10.5 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 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, 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 Trust, Inc., +1-858-207-5859, firstname.lastname@example.org