BioMed Realty Trust Inc. Announces Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2015; Reports Impairment Loss for the Second Quarter of 2015; Provides Earnings and Impairment Guidance for the Year 2015
Jul 28 15
BioMed Realty Trust Inc. announced unaudited consolidated financial results for the second quarter and six months ended June 30, 2015. For the quarter, the company’s total revenues were $157,974,000 compared to $171,161,000 a year ago. Income from operations was $27,801,000 compared to $41,212,000 a year ago. Net income was $37,575,000 compared to $19,098,000 a year ago. Net income attributable to the company was $23,578,000 compared to $18,636,000 a year ago. Basic and diluted net income per share attributable to common stockholders was $0.11 compared to $0.10 for the same period a year ago. Diluted FFO available to common shares and units was $120,811,000 or $0.58 per share compared to $83,378,000 or $0.40 per share a year ago. AFFO available to common shares and units was $100,218,000 or $0.48 per share compared to $67,741,000 or $0.84 per share a year ago. Diluted CFFO available to common shares and units was $121,911,000 or $0.58 per share compared to $84,512,000 or $0.40 per share a year ago.
For the six month, the company’s total revenues were $335,984,000 compared to $340,037,000 a year ago. Income from operations was $56,940,000 compared to $81,964,000 a year ago. Net income was $58,356,000 compared to $39,865,000 a year ago. Net income attributable to the company was $40,923,000 compared to $37,469,000 a year ago. Basic and diluted net income per share attributable to common stockholders was $0.20 compared to $0.19 for the same period a year ago. Diluted FFO available to common shares and units was $206,070,000 or $0.99 per share compared to $166,760,000 or $0.81 per share a year ago. AFFO available to common shares and units was $175,992,000 or $0.84 per diluted share compared to $147,493,000 or $0.71 per diluted share a year ago. Diluted CFFO available to common shares and units was $207,634,000 or $0.99 per share compared to $169,144,000 or $0.80 per share a year ago.
In the quarter, the company recorded an impairment loss of $35.1 million, primarily as a result of the sale of its King of Prussia property in Radnor, Pennsylvania for approximately $35.2 million in gross proceeds.
For the year 2015, the company projected net income per diluted share available to common stockholders between $0.36 to $0.42, FFO per diluted share between $1.74 to $1.80 and project CFFO per diluted share in between $1.75 to $1.81. The company expects real estate depreciation and amortization of $1.21 and impairment of real estate, net of 0.16. The company's 2015 FFO and CFFO estimates reflect the impact of previously announced new investments and dispositions. The foregoing estimates also include the impact of: (i) lease terminations recorded through the six months ended June 30, 2015, aggregating $16.2 million, or $0.08 per diluted share, (ii) investment gains and losses, net of an allocation of income attributable to noncontrolling interests, estimated for the full year 2015 to be approximately $76.7 million, or $0.37 per diluted share, and (iii) the impact of the new development
project in Providence, Rhode Island. These estimates also do not include the effect of any other lease termination revenue or investment gains or losses.
BioMed Realty Trust, Inc. and Illumina Signs 20-Year Lease for New and Innovative Scientific Research Building in Cambridge, England
Jun 25 15
BioMed Realty Trust Inc. announced that Illumina Inc. has signed a 20-year lease for a 155,000 square foot new and innovative scientific research building in Cambridge, England. The project will provide Illumina a collaborative environment and access to the highly skilled workforce in the dynamic research cluster anchored by Cambridge University. The project advances design, with plans to be able to seamlessly expand by 70,000 square feet into a 225,000 square foot building. BioMed Realty acquired the land for the project from The Welding Institute under a long term ground lease, enlarging BioMed Realty'sGranta Park campus in Cambridge, England.