SAN DIEGO, April 13 /PRNewswire-FirstCall/ -- BioMed Realty Trust, Inc. today announced that Alan D. Gold, its President and Chief Executive Officer, will commemorate the placement of the final steel beam on the top of the Center for Life Science | Boston, a key milestone in the construction of this state-of-the-art life science research facility. The ceremony will take place today at 11:00 a.m. in front of the Center at 3 Blackfan Circle in the Longwood Medical Area of Boston. Additional honored guest speakers will include James C. Greenwood, President and CEO of the Biotechnology Industry Organization (BIO), and Dr. Bruce Zetter, Ph.D., Vice President for Research and Chief Scientific Officer at Children's Hospital Boston.
Commenting on this milestone, City of Boston Mayor Thomas M. Menino said, "When completed, this facility will be a testament to Boston's leadership in life science research and development. Our many hospitals, life science companies and academic institutions throughout the city work tirelessly to find new cures to life-threatening diseases. The new Center for Life Science | Boston will house researchers from some of the finest institutions in Longwood and beyond. I applaud the efforts of everyone who is making this vision into a reality and all those who will use this Center to improve the quality of life throughout the world."
"I am extremely proud that BioMed Realty Trust has become the leading real estate provider to this thriving medical research community," added Mr. Gold. "We believe this property is one of the best-located life science research facilities in the nation, directly surrounded on all sides by brilliant researchers from Beth Israel Deaconess Medical Center, Children's Hospital Boston, Merck and Harvard Medical School. When completed, the facility will accommodate some of the greatest medical minds in the world and enable life-saving research and scientific innovation extending well beyond this community."
The Center for Life Science | Boston offers 703,000 square feet of laboratory and office space that is currently 80 percent leased to Beth Israel Deaconess Medical Center, Dana-Farber Cancer Institute, Children's Hospital Boston and the CBR Institute for Biomedical Research. Most of the remaining 130,000 square feet of available space in the project rises above any existing structure in the Longwood Medical Area. The building, designed by local architect Tsoi/Kobus & Associates, Inc., incorporates numerous energy-efficient and environmentally advanced features, and is expected to qualify for a Leadership in Energy and Environmental Design (LEED) rating for sustainable buildings. The Center is being built by construction manager William A. Berry & Son, Inc. and is scheduled for delivery in 2008.
BioMed Realty Trust acquired the Center for Life Science | Boston in November 2006. When added to BioMed's nearly 1.3 million square feet in Cambridge, the Center for Life Science | Boston establishes BioMed Realty Trust as the leading provider of real estate to the life science industry in Boston. Other premier assets owned by BioMed in the Boston area include 500 Kendall Street, 675 West Kendall Street, 270 Albany Street, 200 Sidney Street and 40 Erie Street. These properties are leased to some of the area's most prestigious life science companies, including Genzyme Corporation, Vertex Pharmaceuticals Incorporated and sanofi-aventis.
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. BioMed Realty Trust owns or has interests in 66 properties, representing 99 buildings with approximately 8.4 million rentable square feet, located predominantly in the major U.S. life science markets of Boston, San Diego, San Francisco, Seattle, Maryland, Pennsylvania and New York/New Jersey, which have well-established reputations as centers for scientific research. 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.
BioMed Realty Trust, Inc.CONTACT: Kent Griffin, Chief Financial Officer of BioMed Realty Trust,Inc., +1-858-485-9840
Web site: http://www.biomedrealty.com/
