SAN DIEGO, April 2 /PRNewswire-FirstCall/ -- BioMed Realty Trust, Inc.
(NYSE: BMR) today announced that it has promoted Karen A. Sztraicher to the
position of Vice President, Finance and Treasurer, effective April 2, 2007.
Ms. Sztraicher has served as Vice President - Chief Accounting Officer of the
company since March 2005, and previously as Senior Controller since the
company's inception in August 2004. BioMed also announced that Greg Lubushkin
will join the company as Vice President - Chief Accounting Officer, effective
April 2, 2007.
Commenting on the promotion, Alan Gold, Chief Executive Officer of BioMed
Realty Trust, stated, "Dating back to before our initial public offering in
2004, Karen has been a key senior team member and her contributions have been
central to the success and growth of our company. As Vice President - Chief
Accounting Officer, Karen has overseen all aspects of the company's accounting
functions, in addition to making significant contributions to the finance and
operating teams. During her tenure with the company, BioMed has grown from 13
properties and approximately $520 million in assets at the time of its initial
public offering to 57 properties and over $2.7 billion in assets. In her new
role as Vice President, Finance and Treasurer, Karen will be able to focus her
full time and attention on managing the company's financing, budgeting and
treasury activities, in addition to assisting in overall strategic and capital
planning. I am looking forward to the continued contributions Karen will make
to BioMed in these important areas."
"We also are very pleased to announce that Greg Lubushkin is joining
BioMed as our Vice President - Chief Accounting Officer. Greg has substantial
real estate industry experience, previously serving as an Audit Partner with
PricewaterhouseCoopers LLP, and most recently as Chief Accounting Officer of
ECC Capital Corporation, a publicly traded mortgage real estate investment
trust (REIT). Greg's expertise and leadership skills will be well-utilized
within our rapidly expanding company - and he is an excellent addition to our
premier management team," concluded Mr. Gold.
Mr. Lubushkin, age 54, has been Chief Accounting Officer of ECC Capital
Corporation, a publicly traded mortgage REIT that invests in residential
mortgage loans, since November 2004. Prior to joining ECC Capital, Mr.
Lubushkin served as an Audit Partner with PricewaterhouseCoopers LLP since
1988 and on the staff at PricewaterhouseCoopers in various capacities since
1977. Mr. Lubushkin received a Bachelor of Science Degree in Business
Administration (Accounting and Finance emphasis) from the University of
California at Berkeley. Mr. Lubushkin is a Certified Public Accountant and a
member of the American Institute of Certified Public Accountants and the
California Society of Certified Public Accountants.
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 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 57 properties, representing 93 buildings with approximately 7.9 million
rentable square feet in the major life science markets in the United States.
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 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 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.
CONTACT: Kent Griffin, Chief Financial Officer of BioMed Realty Trust,
Web site: http://www.biomedrealty.com