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BioMed Realty Trust Announces Acquisition of Two Additional Properties for a Total of $44.9 Million

SAN DIEGO, Jan. 5 /PRNewswire-FirstCall/ -- BioMed Realty Trust, Inc. (NYSE: BMR) today announced that it has closed on the acquisition of two properties, a fully-leased, specialty healthcare property located in South San Francisco and the sale-leaseback of a research laboratory located in the University of Utah Research Park.

The 152,145 square-foot facility in South San Francisco was purchased for approximately $25.9 million in cash. The property, located at 475 Eccles Avenue, is fully leased to The Cooper Companies, Inc., a public company focused on the manufacture and marketing of specialty healthcare products. Upon completion of the tenant's lease term in December 2007, BioMed intends to redevelop the property into a Class "A" 260,000 square-foot laboratory and office building for the life science industry.

The 93,650 square-foot property, located at 383 Colorow Drive in Salt Lake City, was acquired for approximately $19.0 million in cash. NPS Pharmaceuticals, Inc., which will leaseback the fully-occupied property pursuant to a 15-year, triple-net lease, is a public company engaged in the discovery, development and commercialization of small molecule drugs and recombinant proteins to treat bone and mineral disorders, osteoporosis, gastrointestinal disorders and central nervous system disorders.

"Our South San Francisco acquisition brings our number of properties in the area to seven, and marks our entry into this important submarket, which is considered to be the primary life science location for the Greater Bay Area. The property's close proximity to the corporate headquarters of Genentech, as well as a number of other biotechnology and pharmaceutical companies such as Amgen, Elan and Cell Genesys, provides an excellent growth opportunity for BioMed."

"We see the sale-leaseback with NPS Pharmaceuticals as an attractive opportunity, signifying our expansion into University research park-related real estate. The University of Utah is ranked among the top 30 public research universities in the nation, with particular distinction in medicine, genetics and engineering. In addition, NPS is a strong public company that fits well with our existing tenant profile," said Alan D. Gold, president and chief executive officer of BioMed Realty Trust.

The acquisitions of these properties increase BioMed's real estate portfolio to 39 properties, representing 62 buildings with approximately 4.7 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

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:
01/05/2006 05:00 EST