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The Associated Press
BioMed Realty Celebrates 20 Years of Delivering Mission-Critical Life Science Real Estate
4 hours ago
(Graphic: Business Wire)
SAN DIEGO--(BUSINESS WIRE)--Aug 21, 2024--
BioMed Realty, a leading provider of real estate solutions to the life science and technology industries, today announced the celebration of the Company’s 20th anniversary.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240821100852/en/
(Graphic: Business Wire)
Founded in 2004, BioMed Realty was one of the first real estate companies to cater to the life science industry, delivering Class A, mission-critical lab space to the world’s greatest innovators. Since Blackstone Real Estate acquired BioMed Realty in 2016, the Company has grown significantly and is now the largest private operator of life science real estate, with a portfolio valued at more than $22 billion.
BioMed Realty operates 16 million square feet of life science infrastructure within core innovation hubs in the United States and the United Kingdom, including Boston/Cambridge, San Francisco, San Diego, Seattle, Boulder and Cambridge, U.K.
“Today marks a significant milestone for the BioMed Realty team, as well as for the companies, institutions and communities we serve every day in the United States and United Kingdom,” said BioMed Realty’s Chief Executive Officer Tim Schoen. “As we enter our third decade, our core mission has remained the same: to provide life science and technology companies with world-class innovation space, so they can continue to advance human health. Our team’s commitment to providing mission-critical infrastructure has helped our Company build many valuable tenant and community relationships. We look forward to the next 20 years of paving the way for human discovery as we continue to accelerate innovation.”
Key milestones from BioMed Realty’s first 20 years:
2004: BioMed Realty Trust, Inc. completes initial public offering.
2005: With a growing portfolio in several key life science markets, such as San Diego, Seattle, San Francisco and Boston, BioMed Realty acquires seven properties in Cambridge, MA.
2012: BioMed Realty enters the UK life science real estate market with the acquisition of Granta Park, a 120-acre campus in Cambridge.
2016: Blackstone acquires BioMed Realty for $8 billion to operate as a private company.
2020: Blackstone announces a $14.6 billion recapitalization of BioMed Realty.
2020: BioMed Realty supports Blackstone in adding 1.7 million square feet to its Boston-Cambridge portfolio with the acquisition of University Park and becomes the largest operator of life science properties in Cambridge, MA.
2022: BioMed Realty supports Blackstone in the acquisition of the largest life science and office campus in Boulder, CO - Flatiron Park - to anchor BioMed’s presence in the thriving Boulder innovation ecosystem. The campus consists of 23 buildings and 1.1 million square feet.
2023: BioMed Realty achieves a 5 Star Rating in the 2023 GRESB Real Estate Assessment. In addition, the Company achieved a #1 ranking within Technology/Science/Americas and a 4 Star Rating in the Development Benchmark.
Jacob Werner, Co-Head of Americas Acquisitions for Blackstone Real Estate, said, “Life sciences remains a high conviction investment theme driven by the accelerating pace of scientific discovery. Through our broader life sciences business, Blackstone helps fund products that address unmet medical needs and high-quality lab spaces are critical to bringing those medicines to market. We’re incredibly proud of BioMed Realty’s dedication to innovation and look forward to continuing to support its future growth.”
“At BioMed Realty, we don’t just manage real estate; we’re helping to shape the future of life science and technology innovation,” BioMed Realty Chief People Officer Charlie Piscitello said. “At the heart of our success are our dedicated, talented people who demonstrate their expertise in creating environments that foster innovation each and every day. As we look to the future, we are guided by our core values: Accountable, Collaborative, Capable, Inquisitive, and Courageous, to build on the Company’s past success while creating the foundation for our future.”
“The life science industry is constantly changing, and to best serve our tenants, we are dedicated to evolving alongside it,” said Bill Kane, BioMed Realty President, East Coast and UK Markets. “We are focused on building with the future in mind, to ensure that our tenants of all sizes can grow and thrive at our properties.”
Jonathan Bergschneider, BioMed Realty President, West Coast Markets, added: “From the development of our largest purpose-built campuses to our move-in ready Velocity lab space, these environments enable our clients to immediately begin R&D efforts upon moving in, with our goal to help accelerate therapies and treatments into the market. Additionally, we are determined to continue our responsible and sustainable development practices, and double down on ESG efforts that benefit the communities we operate in and the larger commercial real estate industry as a whole.”
To learn more about the range of BioMed Realty properties across the U.S. and U.K., visit https://www.biomedrealty.com/properties.
About BioMed Realty
BioMed Realty, a Blackstone Real Estate portfolio company, is a leading provider of real estate solutions to the life science and technology industries. As of June 30, 2024, BioMed Realty owns and operates high-quality life science real estate comprising 16 million square feet concentrated in leading innovation markets throughout the United States and the United Kingdom, including Boston/Cambridge, San Francisco, San Diego, Seattle, Boulder and Cambridge, U.K. In addition, BioMed Realty maintains a premier development platform with 2.7 million square feet of Class A properties in active construction to meet the demand of the life science and technology industries. To learn more about BioMed Realty, visit biomedrealty.com and follow the company on X @biomedrealty.
View source version on businesswire.com:https://www.businesswire.com/news/home/20240821100852/en/
CONTACT: Media:
Ivan Alber
Director of Corporate Communications, BioMed Realty
619-840-2181
Ivan.Alber@biomedrealty.com
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: ENVIRONMENTAL HEALTH TECHNOLOGY PROFESSIONAL SERVICES SCIENCE OTHER CONSTRUCTION & PROPERTY BIOTECHNOLOGY COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY HEALTH OTHER SCIENCE RESEARCH OTHER TECHNOLOGY SUSTAINABILITY BUILDING SYSTEMS OTHER HEALTH ENVIRONMENT CONSULTING
SOURCE: BioMed Realty
PUB: 08/21/2024 09:00 AM/DISC: 08/21/2024 09:00 AM
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