News
National Commercial Real Estate

Money Talks: Blackstone to Acquire BioMed in $8B Deal

The Blackstone Group has announced an agreement to acquire BioMed Realty Trust for roughly $8B, including debt.

Blackstone Real Estate Partners VIII affiliates will pay $23.75 a share in cash for the life science office space provider.

The transaction represents a 10% premium to BioMed's closing price on Wednesday, and a 24% premium to its closing price on Sept. 22, the day before news of a possible acquisition broke.

BioMed Realty has more than 18M SF of rental space in key markets like Boston-Cambridge, San Francisco, Seattle, and its home base, San Diego. Its revenue in 2014 was $674.6M.

The company's Board of Directors has unanimously approved the deal, which is expected to close in Q1 '16. [NYT]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

These 15 Lenders Are Leading The $1.3T Data Center Debt Surge

Largest U.S. Grid Threatens Power Cuts To Data Centers That Don't Bring Their Own

Fermi Subpoenaed For Project Matador, Former Management Records

Avison Young Plans Second Major Recapitalization Since 2024

Rexford To Sell $1.2B Industrial Portfolio As Part Of Plan To Increase Dispositions

Goldman Sachs To Buy Sale-Leaseback Specialist LCN For Up To $410M

How To Streamline Operations And Accelerate Receipt Of Capital On Construction Projects

Judge Approves $70M Sale Of Philly's Largest Office Complex

Kidder Mathews Establishes First Texas Office In DFW, Adds 6 New Brokers

EXCLUSIVE: Building On Former Denver Johnson & Wales Campus To Sell For $11M

Bally's Debt Obligations Raise Doubts Over Casino Operator's Future

Vivmark Details Merged Entity, Becomes Largest U.S. Apartment REIT By Far