BioMed Realty Trust Acquires Two New Properties

Published: Wednesday, October 26, 2005 - 22:00

BioMed Realty Trust Inc. recently acquired two new properties, one in San Diego and one in the San Francisco area.The company’s new site in San Diego is it ninth in that area. It purchased the 28,704 square-foot facility for $8.5 million from Isis Pharmaceuticals Inc. Isis, a public biopharmaceutical company that exploits RNA-based drug discovery technologies, has entered into a 15-year lease on the property. The San Francisco-area property contains 88,000 rentable square feet, which is currently under redevelopment. It is BioMed Realty Trust’s sixth San Francisco-area property.

The acquisitions increase the company’s real estate portfolio to 35 properties, representing 58 buildings with approximately 4.4 million rentable square feet. The company focuses on acquiring, owning, developing, leasing and managing laboratory and office space for the life sciences and pharmaceutical industries.

“The acquisitions in San Diego and San Francisco further strengthen the company’s presence in these important life-science markets,” says Alan D. Gold, BioMed Realty Trust president and CEO. “They reflect BioMed’s commitment to our corporate mission of providing real estate to the life-science industry.”

For more information, visit www.biomedrealty.com.

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