BioMed Realty
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BioMed Realty is a REIT focused on real estate for the life science industry -- that is, pharmaceutical and biotechnology companies, government agencies and research institutions. These types of organizations have specific building-design needs, because of the nature of the work they do, and therefore it's helpful to them to rent from a landlord that understands their technical requirements.
BioMED Realty Properties for Life Science Industry
Because of these requirements, which include systems redundancy, 100% outside air HVAC systems and extensive electrical equipment, capital costs for life sciences real estate is typically three times normal, creating a high barrier to entry. Also, many such organizations want to be near high quality academic institutions.
The New York Stock Exchange symbol of this real estate investment trust is BMR. They currently own or have an interest in 69 properties. That is a total of 112 buildings with 10.4 million square feet of office and laboratory space, including 1.9 million square feet currently being developed. They also own some adjacent land waiting for development and expansion.
They were formed in April 2004 from Bernardo Property Advisors, Inc and affiliates. They operate as a fully integrated, self-administered and self-managed REIT, providing leasing, management and development services to its target market the life science field.
They currently own properties in San Diego California, Bostom Massachusets, San Francisco California, Seattle Washington, and in Maryland, Pennsylvania, New York, New Hampshire, Colorado, Delaware and New Jersey. They 100% own all of their properties, except for 10 in which other parties also have some ownership interest.
BMR does have a dividend reinvestment plan for investors to reinvest dividends without the need of paying a broker's commission.
One of their properties was certified Platinum (highest possible rating) by the U.S. Green Building Council´s Leadership in Energy and Environmental Design Green Building Rating System™ (LEED®), the nationally accepted benchmark for the design, construction and operation of environmentally friendly, green’ buildings. That building is 500 Kendall Street in Cambridge, Massachusetts, the 13-story headquarters for Genzyme Corporation. The property was completed in 2003 and was also a recipient of the AIA 2004 Excellence in Sustainable Design Award and the AIA COTE 2004 Top Ten Green Projects Award.
Other green building properties they own include the Fairview Research Center in Seattle, and others are under construction.
Other properties they own include Science Center Drive, San Diego Science Center, Road to the Cure, Pacific Research Center, Fresh Pond Research Park, Center for Life Science and Fairview Research Center.
Obviously, the fate of the REIT BioMed Realty is closely tied to that of its biotechnology tenants. However, biology and its practical applications is a rapidly growing field that is bound to see many breakthroughs in the coming years.
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