SAN DIEGO—BioMed Realty Trust says its unique platform, anchored by a deep team of life science real estate professionals, delivered a new record for gross leasing in the quarter ended June 30, with 1.3 million square feet. The activities included new leases with Eli Lilly and Alnylam Pharmaceuticals in Cambridge, MA, Regeneron Pharmaceuticals in New York, and Illumina in Cambridge, UK, as well as leases to top tier research institutions Duke University and Wake Forest University.
The firm reported funds from operations (FFO) and core FFO (CFFO) per diluted share of $0.58 for the second quarter ended June 30, driven by the company's strong leasing, development deliveries, and investment activities over the past four quarters.
Total gross leasing in the second quarter resulted in approximately 218,400 square feet of positive net absorption in the operating portfolio and an additional 370,300 square feet of absorption across the company's development portfolio.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
