BioMed Reports $87M Acquisition Agreement in Redwood City, CA

BioMed Realty Trust, Inc. has entered into an agreement to acquire an unidentified property in Redwood City, CA for $87.0 million in cash, excluding transaction costs.

The property is comprised of three buildings with an aggregate of approximately 256,000 square feet of laboratory and office space.

As of February 1, 2013, the property was 100% leased to five tenants.

This acquisition is still subject to due diligence and other customary closing conditions.