San Diego Business Journal

Third Quarter Revenue Up at BioMed Realty Trust

Thursday, November 7, 2013

BioMed Realty Trust saw revenue rise 18.4 percent from a year ago in its third quarter ending Sept. 30, reaching $159.2 million.

The San Diego-based company, which invests in life-sciences properties, reported $4.2 million in net income available to common stockholders, up from $2.8 million in the year-ago quarter.

Adjusted funds from operations, an industry-recognized supplemental metric gauging the performance of real estate portfolios, was $60.7 million for the quarter, up from $55.6 million a year ago.

The real estate investment trust executed 37 leasing transactions during the quarter totaling 340,100 square feet, including 24 new leases. Its portfolio was approximately 90.7 percent leased as of Sept. 30.

BioMed Realty Trust (NYSE: BMR), with headquarters in Rancho Bernardo, owns a total of approximately 16.3 million rentable square feet nationwide, with an additional 4.3 million square feet available for future development.

— SDBJ Staff Report