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BioMed Realty Trust Acquires San Francisco Property and Agrees to Acquire Colorado Properties for a Total of $80 Million

SAN DIEGO, June 22, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- BioMed Realty Trust, Inc. (NYSE: BMR) today announced that it has closed on the acquisition of a fully-leased office and laboratory facility located in the San Francisco Bay Area. BioMed also announced it has entered into agreements to acquire Array BioPharma Inc.'s life science campuses located in Boulder and Longmont, Colorado.

The San Francisco property is located at 34175 Ardenwood Boulevard in Fremont, California, in close proximity to BioMed's Ardentech Court, Dumbarton Circle and Kaiser Drive properties. The company purchased an 87.5% joint venture interest in the property for approximately $14.5 million. The property contains 72,500 rentable square feet of office and laboratory space that is fully leased to Baxter Biosciences, a division of Baxter International, a publicly traded global healthcare company that assists healthcare professionals and their patients with treatment of complex medical conditions including hemophilia, immune disorders, kidney disease, cancer, trauma and other conditions.

The company entered into an agreement to acquire Array BioPharma's approximately 150,000 square-foot, four-building life science campus in Boulder, Colorado for approximately $45.0 million. BioMed also entered into an agreement to acquire an additional Array BioPharma facility in the growing submarket of Longmont, Colorado for approximately $20.8 million. The Longmont property consists of two buildings totaling approximately 78,000 square feet of office and laboratory space. Array BioPharma, a public biopharmaceutical company focused on the discovery, development and commercialization of orally active drugs in cancer and inflammatory disease, will fully lease both of the properties under new ten-year triple-net leases. The acquisitions of the Boulder and Longmont properties are expected to close in the third quarter of 2006, and are subject to customary closing conditions.

"The Ardenwood Boulevard acquisition, in conjunction with our recently announced Sun Microsystems transaction, further strengthens our already significant presence in the important San Francisco market. We also are particularly pleased to announce the agreements to acquire Array BioPharma's Boulder and Longmont campuses, as it not only allows us to opportunistically expand our university research park real estate in dynamically growing markets, but also, in keeping with our existing tenant profile, to partner with a solid company," said Alan D. Gold, President and Chief Executive Officer of BioMed Realty Trust.

About Array BioPharma

Array BioPharma Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule drugs to treat life threatening and debilitating diseases. Its proprietary drug development pipeline is focused on the treatment of cancer and inflammatory disease and includes clinical candidates that are designed to regulate therapeutically important targets. In addition, leading pharmaceutical and biotechnology companies collaborate with Array to discover and develop drug candidates across a broad range of therapeutic areas. For more information on Array, please go to

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(TM). The company's tenants primarily include biotechnology and pharmaceutical companies, scientific research institutions, government agencies and other entities involved in the life science industry, and its properties and primary acquisition targets are generally 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. BioMed's real estate portfolio consists of 47 properties, representing 71 buildings with approximately 5.9 million rentable square feet in each of the major life science markets in the United States. 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 company's target markets; 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.

Kent Griffin, Chief Financial Officer of BioMed Realty Trust, Inc., +1-858-485-9840