Key Developments: BioMed Realty Trust Inc (BMR.N)
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Latest Key Developments (Source: Significant Developments)
BioMed Realty Trust Inc's BioMed Realty, L.P. Announces Acquisition Of Property-Form 8-K
BioMed Realty Trust Inc reported in its Form 8-K that on June 18, 2013, BioMed Realty, L.P. (Operating Partnership), the operating partnership subsidiary of BioMed Realty Trust, Inc. (Company), acquired the 320 Charles Street property in Cambridge, Massachusetts, a laboratory and office building comprising approximately 99,500 square feet of rentable space, in a transaction valued at $52.0 million, with approximately $8.0 million paid in cash and the remaining consideration paid through the issuance of 2,034,211 units of limited partnership interest in the Operating Partnership (OP Units). The OP Units will be redeemable after a period of twelve months following the closing for cash or, at the Company's option, an equivalent number of shares of the Company's common stock. The OP Units were issued in a private placement in reliance on Section 4(2) of the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. Full Article
BioMed Realty Trust Inc Declares Second Quarter 2013 Common Stock Dividend
BioMed Realty Trust Inc announced that Board Of Directors has declared a second quarter 2013 dividend of $0.235 per share of common stock. The dividend is equivalent to an annualized dividend of $0.94 per common share. The common stock dividend is payable on July 15, 2013 to stockholders of record at the close of business on June 28, 2013. Full Article
BioMed Realty Trust Inc And Wexford Science & Technology Complete Merger
BioMed Realty Trust Inc and Wexford Science & Technology, LLC announced that they have completed their previously announced merger. The Wexford Science & Technology platform will operate as a wholly owned subsidiary of BioMed Realty. The aggregate consideration for Wexford Science & Technology at the close of the transaction was approximately $672 million. Goldman, Sachs & Co. acted as financial advisor to the primary shareholder of Wexford Science & Technology. Morgan Stanley acted as financial advisor to BioMed Realty. Stifel acted as financial advisor to Wexford Science & Technology. Full Article
BioMed Realty Trust Inc Updates FY 2013 FFO Guidance To A Range In Line With Analysts' Estimates
BioMed Realty Trust Inc updated its fiscal 2013 guidance for net income per diluted share and FFO per diluted share. For fiscal 2013, the Company now expects net income per diluted share available to common stockholders in the range of $ $0.08-$0.16 and FFO per diluted share in the range of $1.41-$1.49. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report FFO per share of $1.46 for fiscal 2013. Full Article
BioMed Realty Trust Inc Announces 31,500 Square Foot Lease Expansion With Risk Management Solutions At Pacific Research Center
BioMed Realty Trust Inc announced that Risk Management Solutions, Inc. (RMS), a in risk modeling for businesses, has leased an additional 31,500 square feet at its Pacific Research Center in Newark, California. As a result of this lease expansion, RMS' occupancy at Pacific Research Center North will increase to approximately 134,000 square feet, all of which extends through December 31, 2020. With the signing of the RMS lease expansion, in addition to two recent new leasing transactions totaling approximately 50,800 square feet, BioMed Realty has executed over 82,000 square feet of new leases during 2013 at Pacific Research Center, which is now 72% leased. The Pacific Research Center campus is comprised of Pacific Research Center North, Pacific Research Center South and Pacific Industrial Center. Full Article
BioMed Realty Trust Inc Announces Exercise Of Option To Purchase Additional Shares Of Common Stock
BioMed Realty Trust Inc announced the full exercise of the underwriters' option to purchase additional shares of common stock in connection with BioMed Realty's previously announced follow-on offering that priced on March 27, 2013 . In total, the company sold 17,250,000 shares of common stock in the offering, raising gross offering proceeds of approximately $369.2 million. Morgan Stanley & Co. LLC, Raymond James & Associates, Inc., UBS Securities LLC, Wells Fargo Securities, LLC and KeyBanc Capital Markets Inc. are the joint book-running managers for the offering. Full Article
BioMed Realty Trust Inc Prices Public Offering Of 15,000,000 Shares Of Common Stock
BioMed Realty Trust Inc announced that the pricing of public offering of 15,000,000 shares of its common stock at $21.40 per share. The offering is expected to close on or about April 2, 2013. The gross proceeds from the offering will be approximately $321.0 million. BioMed Realty expects to use the net proceeds of the offering to fund a portion of the purchase price for the recently announced, pending acquisition of Wexford Science & Technology, LLC, to repay a portion of the outstanding indebtedness under unsecured line of credit and for other general corporate and working capital purposes. The acquisition of Wexford Science & Technology is subject to the receipt of lender, ground lessor and other third-party consents, waivers of rights of first offer and customary closing conditions, and there can be no assurances that the acquisition will close on the terms described, or at all. All of the shares are being sold by the Company. BioMed Realty has also granted the underwriters a 30-day option to purchase up to an additional 2,250,000 shares of common stock. Morgan Stanley & Co. LLC, Raymond James & Associates, Inc., UBS Securities LLC, Wells Fargo Securities, LLC and KeyBanc Capital Markets Inc. are the joint book-running managers for the offering. Full Article
BioMed Realty Trust Inc Announces Public Offering Of 15,000,000 Shares Of Common Stock
BioMed Realty Trust Inc announced that it has commenced a public offering of 15,000,000 shares of its common stock pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission. BioMed Realty expects to use the net proceeds of the offering to fund a portion of the purchase price for the recently announced, pending acquisition of Wexford Science & Technology, LLC, to repay a portion of the outstanding indebtedness under its unsecured line of credit and for other general corporate and working capital purposes. The acquisition of Wexford Science & Technology is subject to the receipt of lender, ground lessor and other third-party consents, waivers of rights of first offer and customary closing conditions, and there can be no assurances that the acquisition will close on the terms described, or at all. All of the shares will be offered by the Company. BioMed Realty also expects to grant the underwriters a 30-day option to purchase up to an additional 2,250,000 shares of its common stock. Morgan Stanley & Co. LLC, Raymond James & Associates, Inc., UBS Securities LLC, Wells Fargo Securities, LLC and KeyBanc Capital Markets Inc. are the joint book-running managers for the offering. Full Article
BioMed Realty Trust Inc To Merge With Wexford Equities LLC's Wexford Science & Technology LLC
BioMed Realty Trust Inc announced that it has entered into a definitive agreement to merge with Wexford Science & Technology, LLC, a subsidiary of Wexford Equities, LLC, furthering BioMed Realty's position as the provider of real estate to the life science industry. Wexford Science & Technology is a private real estate investment and development company that owns and develops institutional quality life science real estate for academic and medical research organizations, and that boasts well-regarded skills for urban development and redevelopment of life science real estate. The aggregate consideration for Wexford Science & Technology is approximately $640 million, excluding transaction costs and subject to adjustment based on working capital levels and construction and development costs incurred prior to closing. Wexford Science & Technology will operate as a wholly owned subsidiary of BioMed Realty. Approximately $551 million of the initial consideration is for Wexford Science & Technology's operating portfolio which includes approximately 1.6 million rentable square feet of newly developed, state-of-the-art research facilities in high-barrier sites located on or immediately adjacent to leading academic, medical system and research institution campuses and in close proximity to the local market demand drivers. Full Article
BioMed Realty Trust Inc To Lease 204,900 Square Feet To Life Technologies At The Science Center at Oyster Point In South San Francisco
BioMed Realty Trust Inc announced the signing of two new leases for 15 years with Life Technologies Corporation at its Science Center at Oyster Point property in the heart of the South San Francisco, California life science submarket. Life Technologies, a global biotechnology company, will fully occupy 200 and 180 Oyster Point Boulevard, comprising approximately 204,900 square feet of laboratory and office space. Concurrently, the company also announced that it has reached agreement with Elan Corporation, the current tenant at The Science Center at Oyster Point, on an early lease termination at The Science Center at Oyster Point which will be effective simultaneously with the Life Technologies leases. Pursuant to the agreement, Elan will pay BioMed Realty an early lease termination fee of $46.5 million. Full Article

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