About BioMed Realty
BioMed Realty Trust (BMR) was born out of Bernardo Property Advisors in 2004. The company was founded by Gary A. Kreitzer and Alan D. Gold and is headquartered in San Diego, California. The company is structured as an REIT (real estate investment trust) and completed an initial public offering in 2004. The company is now the fifth-largest publicly traded office REIT in the United States and is a part of the S&P 400 Index. In October 2015, Blackstone Group entered into an agreement to buy BioMed Realty.
A brief business overview
BioMed Realty (BMR) is a fully integrated, self-administered, and self-managed REIT. The company is one of the largest and leading REIT focused on life science properties. The company is primarily engaged in the ownership, operations, development, redevelopment, acquisitions, and management of laboratory and office space for the life science industry.
BioMed Realty’s competitors and ETF exposure
BioMed Realty is one of the largest office REIT companies in the US, with a market capitalization of $4.8 billion. The company competes with a number of other owners and operators of office, laboratory, and tech office properties for rental space. Some of these properties are located very close to BioMed Realty’s laboratory space.
In addition, the competition also comes from other real estate companies, healthcare REITs, suburban office property REITs, private real estate funds, financial institutions, pension trusts, among others. The competition for leasing space is mainly driven by factors such as the quality of properties and services provided to tenants, attractiveness of leasing terms, location, and reputation of a company operating office properties.
Major competitors of BioMed Realty in the office REIT space includes Boston Properties (BXP), SL Green Realty (SLG), Kilroy Realty Corporation (KRC), Alexandria Real Estate Equities (ARE), Douglas Emmett (DEI), Highwoods Properties (HIW), Paramount Group (PGRE), Equity Commonwealth (EQC), and Columbia Property Trust (CXP). The SPDR DJ Wilshire REIT ETF (RWR) invests approximately 0.8% of its portfolio in BioMed Realty.
In this series, we’ll be covering the following topics:
- An Investor’s Introduction to BioMed Realty Trust
- An Overview of BioMed Realty’s Specialized Property Portfolio
- Sizing up BioMed Realty’s Geographic Coverage
- BioMed Realty’s Quality Tenant Base and Triple Net Leases Ensure Steady Cash Flows
- BioMed Realty’s Strategy: Adding Value through Property Development and Redevelopment
- BioMed Realty’s Property Acquisitions Have Been Enhancing Its Portfolio Quality
- BioMed Realty’s Other Strategy: Generating Sustainable Growth
- Hold up—So Why Is Blackstone Acquiring BioMed Realty?
- Higher Demand Likely to Drive BioMed Realty’s Occupancy in 2016
- Can BioMed Realty Continue Its Revenue Growth Momentum in 2016?
- BioMed Realty’s EBITDA Margin Moving Forward: What’s on the Horizon?
- Evaluating BioMed Realty’s Funds from Operations and Net Operating Income
- Analyzing BioMed Realty’s Higher FFO Payout Ratio
- What’s Funding BioMed Realty’s Acquisitions?
- BioMed Realty Is Trading at a Discount Compared to Peers—For Now
- Interpreting BioMed Realty’s EV-to-EBITDA Multiple
- Investing in BioMed Realty through ETFs
Now let’s take a look at BioMed Reality’s portfolio.