Navigation Links
BioMed Realty Trust Receives Commitments to Expand Unsecured Line of Credit to $665 Million
Date:11/9/2009

SAN DIEGO, Nov. 9 /PRNewswire-FirstCall/ -- BioMed Realty Trust, Inc. (NYSE: BMR) announced today that the company has received commitments from lenders to increase the borrowing capacity on its unsecured line of credit by $65 million to an aggregate of $665 million, with no other changes to the terms of the facility. The weighted-average effective interest rate of the unsecured line of credit was 1.35% as of September 30, 2009. The maturity date remains August 1, 2011, which may be extended to August 1, 2012 after satisfying certain conditions and paying an extension fee.

"We are very pleased with the sustained support we have received from our team of lenders and their commitment to increasing the availability under our unsecured line of credit," said Kent Griffin, BioMed's President and Chief Financial Officer. "Since inception, BioMed has consistently worked proactively and aggressively in successfully managing our balance sheet to maximize financial flexibility. We expect this additional borrowing capacity to contribute to our ongoing success as we continue to execute on our business plan, and this expansion puts us in an even stronger position to take advantage of future growth opportunities."

The increase in borrowing capacity under the company's unsecured line of credit is subject to the execution of definitive agreements and the satisfaction of closing conditions, and the company can offer no assurances that the transaction will close with the commitments as described above, or at all.

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®. 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 owns or has interests in 69 properties, representing 114 buildings with approximately 10.5 million rentable square feet. The company's properties are located predominantly in the major U.S. life science markets of Boston, San Diego, San Francisco, Seattle, Maryland, Pennsylvania and New York/New Jersey, 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: 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 and developments, and the ability to refinance indebtedness as it comes due; failure to manage effectively the company's growth and expansion into new markets, or to complete or integrate acquisitions and developments successfully; risks and uncertainties affecting property development and construction; risks associated with downturns in the national and local economies, increases in interest rates, and volatility in the securities markets; 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.


'/>"/>
SOURCE BioMed Realty Trust, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. 40 Years on the Leading Edge: Case Western Reserve Universitys Biomedical Engineering Department Commemorates Achievement, Looks to Future
2. Regeneron Pharmaceuticals and BioMed Realty Trust Host Ribbon-Cutting Ceremony at the Landmark at Eastview
3. Healthnostics Unveils Biomedical Content Strategy for Medbioworld.com
4. Peptimmune to Collaborate on Dengue Virus Vaccine and Point-Of-Care Diagnostic With Two DOD Biomedical Research Facilities
5. Biomedical Research Organization Launches Groundbreaking National TV Campaign
6. HUYA Bioscience Establishes First-Look Agreement With Guangzhou Institutes of Biomedicine and Health, Chinese Academy of Sciences (GIBH)
7. Nova Biomedical and CCS Medical Reach Definitive Agreement for a Subsidiary of Nova Biomedical to Acquire Assets of CCS Medicals Subsidiary, Sanvita Inc.
8. Johnson & Johnson Honors 2009 Recipient of The Dr. Paul Janssen Award for Biomedical Research
9. Environmental Tectonics Corporations BioMedical Systems Division Announces the Sale of a Monoplace Hyperbaric Chamber
10. ETC Biomedical Announces Chamber Sale in India
11. KTA Capital Advises SpringTree Global Investors on an AU$25.5 Million Investment in Prima BioMed Ltd
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/25/2016)... ... May 25, 2016 , ... Founder ... double board-certified in surgery and surgery of the hand by the National Board ... stranger to going above and beyond in his pursuit of providing the most ...
(Date:5/25/2016)... LAKE CITY, UTAH. (PRWEB) , ... May 25, 2016 , ... ... efficiencies in healthcare information exchange, today announced that Charles W. Stellar has been named ... as WEDI’s interim CEO since January 2016. As an executive leader with more than ...
(Date:5/24/2016)... ... 24, 2016 , ... Cell therapies for a range of ... research at Worcester Polytechnic Institute (WPI) that yielded a newly patented method of ... The novel method, developed by WPI faculty members Raymond Page, PhD, professor of ...
(Date:5/24/2016)... ... May 24, 2016 , ... Media Cybernetics, ... new Media Cybernetics corporate branding reflects a results-driven revitalization for a company with ... The re-branding components include a crisp, refreshed logo and a new web presence. ...
Breaking Biology Technology:
(Date:5/20/2016)... 2016  VoiceIt is excited to announce its ... By working together, VoiceIt and VoicePass will ... VoicePass take slightly different approaches to voice biometrics, ... and usability. ... partnership. "This marketing and technology partnership ...
(Date:5/3/2016)...  Neurotechnology, a provider of high-precision biometric identification ... Identification System (ABIS) , a complete system for ... can process multiple complex biometric transactions with high ... face or iris biometrics. It leverages the core ... MegaMatcher Accelerator , which have been used in ...
(Date:4/26/2016)... Research and Markets has announced ... 2016-2020"  report to their offering.  , ,     (Logo: ... analysts forecast the global multimodal biometrics market to ... period 2016-2020.  Multimodal biometrics is being ... the healthcare, BFSI, transportation, automotive, and government for ...
Breaking Biology News(10 mins):