focuses on acquiring, owning, leasing, managing, and developing laboratory and office space for lease to life science tenants, including biotechnology and pharmaceutical companies, scientific research institutes, government agencies, and other entities involved in the life science industry.
It targets properties located in certain markets with established reputations as centers for scientific research, including San Diego, San Francisco, Seattle, Maryland, Pennsylvania, New York/New Jersey, and Boston.
BioMed Realty owned 30 buildings with an aggregate of 2.
4 million rentable square feet of life science and laboratory real estate, which were 94.
7% leased, as of March 31, 2004.
The company intends to elect to be taxed as a real estate investment trust (REIT) commencing with its taxable year ending December 31, 2004.
As a REIT, the company would not be subject to federal income tax on REIT taxable income it distributes to its stockholders.
BioMed Realty was formed as a Maryland corporation in April 2004 under the name BioMed Property Trust, Inc.
and subsequently changed its name to BioMed Realty Trust, Inc.
in June 2004.
The company is based in San Diego, California.
