BioMed Realty To Develop 297,000 Square Feet In New York Fully Leased To Regeneron Pharmaceuticals

   BioMed Realty To Develop 297,000 Square Feet In New York Fully Leased To
                          Regeneron Pharmaceuticals

PR Newswire

SAN DIEGO, April 4, 2013

SAN DIEGO, April 4, 2013 /PRNewswire/ --BioMed Realty Trust, Inc. (NYSE: BMR)
announced today that it will commence construction on two new buildings
comprising approximately 297,000 square feet and a parking structure at The
Landmark at Eastview in Tarrytown, New York, expanding the campus to
approximately 1.4 million square feet. The to-be-built laboratory and office
space is 100% pre-leased for a 15-year lease term to Regeneron
Pharmaceuticals, Inc. (NASDAQ: REGN). Regeneron, a fully integrated
biopharmaceutical company with three marketed products in the United States,
will use the new facilities for its research and development activities.
BioMed Realty estimates that the new buildings will be occupied by Regeneron
in late 2015.

"Our recently approved drugs and our robust development pipeline have
transformed Regeneron into one of the largest and fastest-growing
biopharmaceutical companies in the United States," said Leonard S. Schleifer,
M.D., Ph.D., President and Chief Executive Officer. "In March 2013, we hired
our 2,000^th employee, we expect to continue to hire over the next several
years, and these new buildings will support our continued growth. We are
grateful to Governor Cuomo for the New York State financial support for this
newest expansion and to BioMed Realty, our longtime landlord, for structuring
a mutually beneficial real estate transaction."

Concurrently with the new lease, Regeneron executed an early renewal of
approximately 360,500 square feet of space that it leases at Landmark into
2029. Regeneron also continues to lease approximately 312,500 square feet of
space into 2024. Having started with four employees when it opened its
research laboratories at The Landmark at Eastview in 1989, Regeneron now has
over 1,300 employees working at the campus.

Commenting on the latest expansion with Regeneron, Alan D. Gold, Chairman and
Chief Executive Officer of BioMed Realty, said, "Over the past nine years, we
have had the privilege of supporting Regeneron's groundbreaking scientific
achievements and truly remarkable growth, especially since their successful
recent launches of EYLEA ^ ® (aflibercept) Injection and ZALTRAP ^ ®
(ziv-aflibercept). This latest expansion of our valued, long-term relationship
with Len Schleifer and his team provides BioMed Realty with yet another
opportunity to deploy the most knowledgeable professionals in the life science
real estate industry for build-to-suit construction of new facilities that
willsupport Regeneron's continued success."

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 13.5
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.

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: risks and uncertainties
affecting property development and construction, including the development
project at The Landmark at Eastview campus for Regeneron Pharmaceuticals;
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; failure to manage effectively
the company's growth and expansion into new markets, or to complete or
integrate acquisitions and developments successfully; reductions in asset
valuations and related impairment charges; 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
 
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