An Investor’s Introduction to BioMed Realty Trust

BioMed Realty is now the fifth-largest publicly traded office REIT in the United States and is a part of the S&P 400 Index.

Peter Barnes - Author

Jan. 4 2016, Published 3:44 p.m. ET

An Investor’s Introduction to BioMed Realty Trust

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.

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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.


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