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

ured term loan, with a weighted-average effective interest rate of 4.1% at quarter-end; $175 million aggregate principal amount of 4.50% exchangeable senior notes due 2026; $266.7 million in outstanding borrowings under the company's $600 million unsecured revolving line of credit, with a weighted-average effective interest rate of 3.8% at quarter-end; and $501.0 million in outstanding borrowings under the company's acquisition and construction loan secured by the Center for Life Science | Boston property, with a weighted-average effective interest rate of 4.4% at quarter-end. The company's debt to total capitalization ratio was 41.0% at September 30, 2008.

After the quarter ended, on October 6, 2008, the company completed the sale of 8,625,000 shares of common stock, raising net proceeds of approximately $212.4 million after deducting underwriter discounts and commissions and estimated expenses. The net proceeds were utilized to repay a portion of the outstanding borrowings on our $600 million unsecured line of credit and for other general corporate and working capital purposes.

"We have maintained our consistently conservative approach to managing our balance sheet and we were pleased to be able to further fortify our balance sheet through our October 2008 common stock offering. We appreciate the consistent support we have received from our shareholders and lenders," commented Kent Griffin, Chief Financial Officer of BioMed Realty Trust.

Portfolio Update

As of September 30, 2008, BioMed Realty Trust owned or had interests in 112 buildings, located predominantly in the major U.S. life science markets of Boston, San Diego, San Francisco, Seattle, Maryland, Pennsylvania and New York/New Jersey. The company's portfolio was comprised of the following, with its operating portfolio 89.0% leased to 115 tenants, as of September 30, 2008:

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SOURCE BioMed Realty Trust, Inc.
Copyright©2008 PR Newswire.
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