SAN DIEGO, June 22 /PRNewswire-FirstCall/ -- BioMed Realty Trust, Inc. (NYSE: BMR) announced today the closing of a new $18 million loan secured by the company's 9865 Towne Centre Drive property in San Diego.
Construction of 9865 Towne Centre Drive, a state-of-the-art laboratory and office facility, was completed in the second quarter of 2008, and the building has since received LEED(R) Silver certification for Core and Shell from the U.S. Green Building Council. The facility was built for, and is fully leased to, Illumina, Inc., one of San Diego's largest biotechnology companies, which is focused on developing, manufacturing and marketing next-generation tools for the large-scale analysis of genetic variation and biological function. Illumina leases a total of approximately 193,000 square feet through October 2023 at the Towne Centre Drive campus in San Diego.
Kent Griffin, BioMed's President and Chief Financial Officer, commented, 'We are pleased with our continued support from Washington Capital Management, Inc. and the successful completion of this financing, which was negotiated and completed in the midst of an extremely challenging global credit market environment. Our ability to secure funding for this property is further testament to BioMed's proven business strategy of developing, owning and operating world-class research facilities in the core life science markets for premier biotechnology and pharmaceutical companies.'
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(R). 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 69 properties, representing 112 buildings with approximately 10.5 million rentable square feet, including approximately 640,000 square feet of development in progress. The company also owns undeveloped land parcels adjacent to existing properties that it estimates can support up to 1.4 million rentable square feet. The company's properties are located predominantly in the major U.S.
