• News
  • SAN DIEGO
  • Real Estate

BioMed hopes to raise $260M

BioMed Realty Trust Inc. (NYSE: BMR) has priced its public offering of 12.7 million shares of its common stock at $20.50 per share, bringing in approximately $260.4 million in gross proceeds. The offering is expected to close on or about Feb. 19.

The San Diego-based real estate investment trust (REIT) expects to use the net proceeds of the offering to fund a recently announced property acquisition, as well as a portion of the redemption of all 7,920,000 outstanding shares of its 7.375 percent Series A Cumulative Redeemable Preferred Stock. Proceeds will also go toward repaying a portion of the outstanding indebtedness under its unsecured line of credit and for other general corporate and working capital purposes. All of the shares are being sold by the company.

BioMed Realty has also granted the underwriters a 30-day option to purchase up to an additional 1,905,000 shares of its common stock. Morgan Stanley & Co. LLC, Raymond James & Associates Inc., UBS Securities LLC and Wells Fargo Securities LLC are the joint book-running managers for the offering.

RELATED ARTICLES:

Alexandria buys a lot, BioMed not so much

H&R REIT and KingSett increase Primaris REIT takeover offer

Solar costs to fall as REITs become funding source

Leave Your Comment

Comments are moderated by SDDT, in accordance with the SDDT Comment Policy, and may not appear on this commentary until they have been reviewed and deemed appropriate for posting. Also, due to the volume of comments we receive, not all comments will be posted.

SDDT Comment Policy: SDDT encourages you to add a comment to this discussion. You may not post any unlawful, threatening, defamatory, obscene, pornographic or other material that would violate the law. All comments should be relevant to the topic and remain respectful of other authors and commenters. You are solely responsible for your own comments, the consequences of posting those comments, and the consequences of any reliance by you on the comments of others. By submitting your comment, you hereby give SDDT the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying and other information you provide via all forms of media now known or hereafter devised, worldwide, in perpetuity. SDDT Privacy Statement.

User Response
0 UserComments

Leave Your Comment

Comments are moderated by SDDT, in accordance with the SDDT Comment Policy, and may not appear on this commentary until they have been reviewed and deemed appropriate for posting. Also, due to the volume of comments we receive, not all comments will be posted.

SDDT Comment Policy: SDDT encourages you to add a comment to this discussion. You may not post any unlawful, threatening, defamatory, obscene, pornographic or other material that would violate the law. All comments should be relevant to the topic and remain respectful of other authors and commenters. You are solely responsible for your own comments, the consequences of posting those comments, and the consequences of any reliance by you on the comments of others. By submitting your comment, you hereby give SDDT the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying and other information you provide via all forms of media now known or hereafter devised, worldwide, in perpetuity. SDDT Privacy Statement.