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BioMed Realty Trust Joint Venture Enters Into New $245 Million Construction Loan and Extends Term of Existing Loan Facility
Date:2/20/2008

mony to the quality of the project and the sound sponsorship by BioMed and PREI."

The construction loan initially bears interest at a floating rate equal to reserve adjusted LIBOR plus a spread of 150 basis points. The construction loan has a maturity date of August 13, 2010 and is secured by the 650 East Kendall Street property and related collateral.

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(R). 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 Realty Trust owns or has interests in 68 properties, representing 104 buildings with approximately 8.5 million rentable square feet, as well as approximately 1.9 million square feet of development in progress. These 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 http://www.biomedrealty.com.

About PREI

PREI is the real estate investment management business of Prudential Financial, Inc. (NYSE: PRU). PREI's specialized operating units offer a broad range of investment opportunities and investment management services in the United States, Europe, Asia, and Latin America. The company's fund management operations, located in Parsippany, New Jersey; Atlanta, Georgia; Munich; London; Mexico City; and Singapore, are supported by
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SOURCE BioMed Realty Trust, Inc.
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