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BioMed Realty To Lease 204,900 Square Feet To Life Technologies At The Science Center at Oyster Point In South San Francisco
Date:3/20/2013

nounced 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
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SOURCE BioMed Realty Trust, Inc.
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