Life science real estate specialist BioMed Realty Trust, Inc (NYSE: BMR) today celebrated with an on-site event for the first anniversary of its aquisition of Granta Park, the state-of-the-art life science park located in the heart of the Cambridge Science Cluster.
BioMed Realty celebrates one year anniversary of Granta Park acquisition
Granta Park, a 472,000 square feet, eleven building campus, was purchased by BioMed Realty in June 2012 for approximately £126.8 million, marking the Company’s entry into the European market in one of the largest investment deals for a single asset outside of London. The Park is fully leased to eleven leading life sciences tenants, including Pfizer, MedImmune and One Nucleus, with an average remaining lease term of more than eight years.
Douglass Cuff, Director of Granta Park, said: “This has been an exciting year for us as we have used our expertise to cement Granta Park’s reputation as high quality campus, capable of attracting and retaining some of the biggest names in the life science industry. The foundation of our proven business model is built on the opportunity to serve the unique needs of the life science industry. The acquisition of Granta Park marked our entry into the United Kingdom and Europe where we look forward to growing by leveraging our trusted expertise and valuable relationships.”
BioMed Realty is the only specialist investor and manager of life sciences real estate in the UK. The company has invested over $6 billion in life science real estate throughout the core centres of scientific excellence in the U.S. and U.K. BioMed Realty was also the first life science real estate investment trust to receive an investment grade corporate credit rating. The Company is able to deploy capital to fund tenant improvement works and to capitalise on growth opportunities, providing tenants with competitive and flexible financial packages.
About BioMed Realty
BioMed Realty delivers optimal real estate solutions for biotechnology and pharmaceutical companies, scientific research institutions, government agencies and other entities involved in the life science industry. BioMed Realty owns or has interests in properties comprising approximately 16.1 million rentable square feet including the properties of Wexford Science & Technology, a wholly-owned subsidiary of BioMed Realty, which meet the growing and specialized facilities needs of for-profit and not-for-profit institutions, including universities, university-related research parks and healthcare systems. The company’s properties are located across the major U.S. life science markets of Boston, San Francisco, Maryland, San Diego, and New York/New Jersey and in Cambridge, United Kingdom, which have well-established reputations as centres for scientific research. Additional information is available at www.biomedrealty.com and www.wexfordscitech.com.
For more information about BioMed Realty please contact:
Nneka Opara, FTI Consulting
0207 269 9357
07730 092 458
Stephanie Cuthbert, FTI Consulting
0203 077 0458
07738 198 934
BioMed Realty has been part of Cambridge's world-class life science community since the acquisition of Granta Park in 2012. Granta Park is a 477,230 square foot business estate in one of the most reconised areas for science success globally and is home to leading companies, including Sosei Heptares, Astrazeneca, Illumina, PPD Global, and One Nucleus.