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BioMed Realty Trust Acquires San Diego Property From Isis Pharmaceuticals in Sale-Leaseback Transaction; Adds Sixth Property in San Francisco

SAN DIEGO, Sept. 22 /PRNewswire-FirstCall/ -- BioMed Realty Trust, Inc. (NYSE: BMR) today announced that it has acquired its ninth property in San Diego for approximately $8.5 million in cash. The 28,704 square foot property, located on Faraday Avenue in the Carlsbad submarket, was acquired from Isis Pharmaceuticals, Inc. Isis, which will leaseback the property pursuant to a 15-year, triple-net lease, is a public biopharmaceutical company exploiting proprietary RNA-based drug discovery technologies to identify and commercialize novel drugs to treat important diseases.

BioMed also announced it has acquired its sixth property in the San Francisco Bay area for approximately $9.5 million in cash. The property is located on Kaiser Drive near the company's Ardentech Court and Dumbarton Circle properties. The Kaiser Drive property contains approximately 88,000 rentable square feet of space, which is currently under redevelopment.

The acquisitions increase BioMed's real estate portfolio to 35 properties, representing 58 buildings with approximately 4.4 million rentable square feet in all of the major life science markets in the United States.

"The acquisitions in San Diego and San Francisco further strengthen the company's presence in these important life science markets, and reflect BioMed's commitment to our corporate mission of providing real estate to the life science industry," said Alan D. Gold, president and chief executive officer of BioMed Realty Trust.

About BioMed Realty Trust

BioMed Realty Trust, Inc. is a real estate investment trust (REIT) focused on acquiring, developing, owning, leasing and managing laboratory and office space for the life science industry. Our tenants include biotechnology and pharmaceutical companies, scientific research institutions, government agencies and other entities involved in the life science industry. The company's current properties and primary acquisition targets are located in markets with well established reputations as centers for scientific research, including Boston, San Diego, San Francisco, Seattle, Maryland, Pennsylvania and New York/New Jersey. Additional information is available at

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 Boston or California regions; 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 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. 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.
CONTACT: John F. Wilson, II, Chief Financial Officer of BioMed Realty Trust, Inc., +1-858-485-9840
Web site:
09/22/2005 07:30 EDT