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BioMed Realty Trust Announces the Acquisition of Two Properties in the Pennsylvania Market

SAN DIEGO, Oct. 31 /PRNewswire-FirstCall/ -- BioMed Realty Trust, Inc. (NYSE: BMR) today announced that it has acquired two properties, a research laboratory facility located in Bristol, Pennsylvania, as well as the U.S. corporate headquarters of Uniqema in New Castle, Delaware.

The 71,500 square-foot facility located in the Bridge Business Center in Bristol was purchased for approximately $14.9 million in cash, and is fully leased to Rhodia, Inc., a public global specialty chemicals company. The 59,800 square-foot Uniqema property, located at 1000 Uniqema Boulevard in New Castle, was acquired for approximately $15.5 million in cash and is fully leased to Uniqema, a subsidiary of publicly traded Imperial Chemical Industries plc, focused on developing technologies to improve the performance and value of consumer products.

BioMed also entered into an agreement to acquire the adjacent property located at 900 Uniqema Boulevard, consisting of an approximately 11,200 square-foot laboratory facility that is fully leased to Uniqema. The acquisition, which is expected to close during the fourth quarter, remains subject to customary closing conditions, including the assumption of an existing mortgage loan on the property.

"These transactions further exemplify our focus on providing real estate to the life science industry, and our stated growth strategy. We are gaining both a stronger footprint in the important Pennsylvania market and adding two solid global companies to our tenant base. We continue to execute on acquisitions within our targeted range of 9 to 11 percent cap rates, and are encouraged by the healthy pipeline that we have exposure to," said Alan D. Gold, president and chief executive officer of BioMed Realty Trust.

The acquisitions of the Bridge Business Center building and 1000 Uniqema Boulevard increase BioMed's real estate portfolio to 37 properties, representing 60 buildings with approximately 4.5 million rentable square feet in all of the major life science markets in the United States.

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. The company's tenants include biotechnology and pharmaceutical companies, scientific research institutions, government agencies and other entities involved in the life science industry, and its 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 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 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.
10/31/2005
CONTACT: John F. Wilson, II, Chief Financial Officer of BioMed Realty Trust, Inc., +1-858-485-9840
Web site: http://www.biomedrealty.com
(BMR)
10/31/2005 05:00 EDT http://www.prnewswire.com