BioMed Realty To Lease 204,900 Square Feet To Life Technologies At The Science Center at Oyster Point In South San Francisco

BioMed Realty To Lease 204,900 Square Feet To Life Technologies At The Science
                Center at Oyster Point In South San Francisco

Concurrently Agrees to Terminate Lease with Elan Corporation and Acquire
Foster City Campus from Life Technologies

PR Newswire

SAN DIEGO, March 20, 2013

SAN DIEGO, March 20, 2013 /PRNewswire/ --BioMed Realty Trust, Inc. (NYSE:
BMR) announced today the signing of two new leases for 15 years with Life
Technologies Corporation (NASDAQ: LIFE) 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.

Commenting on the new relationship with Life Technologies, BioMed Realty's
Chairman and Chief Executive Officer, Alan D. Gold, remarked, "We are
delighted to have the opportunity to serve the real estate needs of Life
Technologies, a pioneer and worldwide leader in biotechnology, in the Bay
Area. Their Polymerase Chain Reaction (PCR) technology was foundational to
mapping the human genome and theirrecent introduction of the Ion Torrent
semiconductor sequencing technology promises to revolutionize genetic
sequencing for scientists involved in every stage of discovery research. They
were recently ranked in the top ten on the list of the World's 50 Most
Innovative Companies by Fast Company magazine, and we look forward to
supporting their growth and innovation for years to come."

In addition, BioMed Realty announced that it acquired The Campus at Lincoln
Centre in Foster City, California from Life Technologies for approximately
$37.0 million, excluding closing costs. BioMed Realty intends to redevelop
the 19-acre site, currently encompassing seven buildings and approximately
280,000 square feet, which may be significantly expanded through the
redevelopment process.

According to Kent Griffin, President of BioMed Realty, "The redevelopment of
The Campus at Lincoln Centre provides the opportunity to expand our footprint
and presence on the peninsula in the San Francisco Bay area to deliver an
optimal environment for life science organizations and long-term value for our
stockholders."

As a result solely of the early lease termination income and the related
charge-off of accrued straight-line rents and lease intangibles from the Elan
lease, the company's 2013 net income and funds from operations (FFO) available
to common shares are expected to increase approximately $22 million and $35
million, respectively. Approximately 60% of these amounts are expected to be
recognized in the first quarter of 2013, with the balance expected to be
recognized in the second quarter of 2013.

FFO is a supplemental non-GAAP financial measure used in the real estate
industry to measure and compare the operating performance of real estate
companies. A complete reconciliation containing adjustments from GAAP net
income available to common stockholders to FFO for 2012 and definitions of
terms are included in BioMed Realty's earnings release issued on February 5,
2013 and available in the Investor Relations section of the company's website
at www.biomedrealty.com.

About BioMed Realty Trust

BioMed Realty delivers optimal real estate solutions for biotechnology and
pharmaceutical companies, scientific research institutions, government
agencies and other entities involved in the life science industry. BioMed
Realty owns or has interests in properties comprising approximately 13.2
million rentable square feet. The company's properties are located
predominantly in the major U.S. life science markets of Boston, San Francisco,
Maryland, San Diego, New York/New Jersey, Pennsylvania and Seattle, which have
well-established reputations as centers for scientific research. Additional
information is available at www.biomedrealty.com.

Forward-Looking Statements – BioMed Realty

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: failure to manage effectively
the company's growth and expansion into new markets, or to complete or
integrate acquisitions and developments successfully, including the
acquisition and redevelopment of The Campus at Lincoln Centre; 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, the use of debt to fund acquisitions,
developments and other investments, and the ability to refinance indebtedness
as it comes due; failure to maintain the company's investment grade credit
ratings with the ratings agencies; reductions in asset valuations and related
impairment charges; risks and uncertainties affecting property development and
construction; risks associated with downturns in foreign, domestic and local
economies, changes in interest rates and foreign currency exchange rates, and
volatility in the securities markets; ownership of properties outside of the
United States that subject the company to different and potentially greater
risks than those associated with the company's domestic operations; risks
associated with the company's investments in loans, including borrower
defaults and potential principal losses; 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.

Website: http://www.biomedrealty.com
Contact: Rick Howe, Senior Director, Corporate Communications, (858) 207-5859,
richard.howe@biomedrealty.com
 
Press spacebar to pause and continue. Press esc to stop.