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BioMed Realty Trust Reports Third Quarter 2008 Financial Results
Date:10/29/2008

s on the operating front, combined with our conservative approach to our capital structure, have enabled us to maintain our focus throughout these extremely turbulent, challenging times, and position us well to take advantage of the opportunities we see in our business. We remain confident in the fundamental long-term demand drivers for the life science industry, and in turn for life science real estate," commented Alan D. Gold, President and Chief Executive Officer of BioMed Realty Trust.

Third Quarter 2008 Financial Results

Rental revenues for the quarter were $59.4 million, representing a 20.2% increase versus the third quarter of 2007. Same property net operating income increased 7.3% on a cash basis for the third quarter of 2008 compared to the third quarter of 2007.

Total revenues for the quarter were $80.8 million, compared to $64.8 million in the third quarter of 2007. Net income available to common stockholders for the quarter was $13.0 million, or $0.18 per diluted share, compared to $12.2 million, or $0.19 per diluted share, in the third quarter of 2007.

FFO during the quarter was $35.6 million, representing a 15.5% increase versus the third quarter of 2007. FFO per diluted share was $0.48 for the third quarter of 2008 versus $0.45 in the third quarter of 2007.

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 and a definition of FFO are included at the end of this release.

Financing Activity

As of September 30, 2008, the company's consolidated debt included fixed-rate mortgage indebtedness with an aggregate outstanding principal amount of $354.8 million, including $9.3 million of debt premium, and a weighted-average effective interest rate of 5.5% at quarter-end; the company's $250 million sec
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SOURCE BioMed Realty Trust, Inc.
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