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BioMed Realty Trust Announces New Financing for Joint Venture With Prudential Real Estate Investors
Date:2/11/2009

SAN DIEGO, Feb. 11 /PRNewswire-FirstCall/ -- BioMed Realty Trust, Inc. (NYSE: BMR) announced today the completion of a refinancing of the secured acquisition and interim loan facility originally entered into in April 2007 by its joint venture with a fund managed by Prudential Real Estate Investors to acquire, among other properties, approximately 600,000 square feet of life science space in Cambridge, Massachusetts.

Proceeds from the refinancing were approximately $203 million, and were used to repay a portion of the outstanding indebtedness under the existing secured acquisition and interim loan facility. BioMed's share of the financed amount is approximately $41 million based on its 20% interest in the joint venture. BioMed repaid its remaining portion of the outstanding balance on the existing secured acquisition and interim loan facility by drawing on the company's $600 million unsecured line of credit. The term of the amended and restated secured acquisition and interim loan facility is two years, with an option to extend the maturity for an additional year. The facility is provided by a syndicate of lenders, for which KeyBank National Association is the administrative agent.

Commenting on the transaction, Kent Griffin, President and Chief Financial Officer of BioMed, said, "Completing the refinancing of the existing secured acquisition and interim loan facility with our partner PREI(R) represents the achievement of another milestone in managing our debt maturities. We are very pleased to have earned the support and commitment of our lending partners as demonstrated by this financing in an environment in which only the strongest sponsorships have access to credit."

About BioMed Realty Trust

BioMed Realty Trust, Inc. is a real estate investment trust (REIT) focused on Providing Real Estat
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SOURCE BioMed Realty Trust, Inc.
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