Welcome!

News Feed Item

/C O R R E C T I O N -- BioMed Realty/

In the news release, BioMed Realty Invests In Life Science Research Facilities Leased To Yale University, Yale-New Haven Hospital And Alexion Pharmaceuticals, issued 07-Apr-2014 by BioMed Realty over PR Newswire, we are advised by the company that the 4th paragraph, 1st sentence, should read "...a global pharmaceutical company with a marketed product, Soliris®..." rather than, "...a global pharmaceutical company with a marketed product, Solaris®..." as originally issued inadvertently. The complete, corrected release follows:

BioMed Realty Invests In Life Science Research Facilities Leased To Yale University, Yale-New Haven Hospital And Alexion Pharmaceuticals

Two properties will aggregate over 1.0 million square feet upon completion

SAN DIEGO, April 7, 2014 /PRNewswire/ -- BioMed Realty Trust, Inc. (NYSE: BMR) today announced the investment in two properties, 300 George Street and 100 College Street, in the growing life science research community adjacent to the Yale School of Medicine in New Haven, Connecticut. 

BioMed Realty Trust Logo. (PRNewsFoto/BioMed Realty Trust)

The property at 300 George Street is a nine-story, 519,000 square foot laboratory and office building, which is anchored by long term leases to Yale University and the Yale-New Haven Hospital.  The second building at 100 College Street, currently under construction, will be a 14-story, fully leased 508,000 square foot laboratory and office project anchored by Alexion Pharmaceuticals, Inc.  Alexion was founded in New Haven in 1992, and will use the 100 College building as its new global headquarters. 

The total project investment, upon completion, is expected to be approximately $308 million including a continuing partnership interest of Winstanley Enterprises LLC, which will also continue to provide construction and property management services for the project. 

"This opportunity allows BioMed Realty and Wexford to work with and build upon the established relationships with world-renowned tenants like Yale University, Yale-New Haven Hospital and Alexion, a global pharmaceutical company with a marketed product, Soliris®, and a robust research pipeline," said Kent Griffin, President of BioMed Realty.  "We look forward to utilizing our expertise in the well-established life science community in New Haven."

"This is an exciting day for Winstanley Enterprises as we join with BioMed Realty and Wexford to continue the successful partnerships we have established with the City of New Haven, Yale University, and the local life sciences community," observed Carter Winstanley, Principal with Winstanley Enterprises. "We believe this venture will provide vibrant real estate solutions to facilitate continued innovation between public and private industry for many years to come."

"We are excited about this opportunity to expand our university-anchored, knowledge community platform – particularly with this high quality project supporting Yale University, Yale-New Haven Hospital and Alexion Pharmaceuticals," said James Berens, President of Wexford Science & Technology.  "We look forward to working closely with Carter Winstanley and his talented team supporting the increasingly vibrant New Haven market. Given the strong foundations which the local community and Yale University have created in concert with our partner, Winstanley Enterprises, we see New Haven as a center of excellence which will drive collaboration with top tier researchers from around the world."

Additional information regarding the investment is available under the Investor Relations section of BioMed Realty's website at http://phx.corporate-ir.net/phoenix.zhtml?c=182385&p=irol-IRHome.

About BioMed Realty Trust

BioMed Realty, with its trusted expertise and valuable relationships, delivers optimal real estate solutions for biotechnology and pharmaceutical companies, scientific research institutions, government agencies and other entities involved in the life science industry. BioMed Realty owns or has interests in properties comprising approximately 17.3 million rentable square feet.  Additional information is available at www.biomedrealty.com. Follow us on Twitter @biomedrealty.

About Wexford Science & Technology

Wexford Science & Technology, a subsidiary of BioMed Realty, is a real estate investment and development company specializing in facilities for for-profit and not-for-profit institutions, especially universities, university-related research parks and healthcare systems.  Wexford brings a unique approach of collaborating with clients to build knowledge communities which are vibrant, mixed-use, amenity-rich environments that foster innovation. 

About Winstanley Enterprises

Winstanley Enterprises LLC, based in Concord, Massachusetts, invests in and develops commercial real estate assets. Operating primarily in the Northeast United States, Winstanley invests across all commercial asset classes with a particular expertise in the laboratory and life sciences industry.  Winstanley provides a wide range of integrated development, tenant and investor services through its corporate staff and operating subsidiaries, Winstanley Property Management LLC and Winstanley Construction Management LLC.  Additional information is available at http://www.winent.com/.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, without limitation: failure to manage effectively BioMed Realty Trust, Inc.'s (the "company") growth and expansion into new markets, or to complete or integrate acquisitions and developments successfully, including the investments in 300 George Street and 100 College Street in New Haven, Connecticut; risks and uncertainties affecting property development and construction, including completion of construction of the 100 College Street property: general risks affecting the real estate industry (including, without limitation, the inability to enter into or renew leases, dependence on tenants' financial condition, and competition from other developers, owners and operators of real estate); adverse economic or real estate developments in the life science industry or the company's target markets; risks associated with the availability and terms of financing, the use of debt to fund acquisitions, developments and other investments, and the ability to refinance indebtedness as it comes due; failure to maintain the company's investment grade credit ratings with the ratings agencies; failure to manage effectively the company's growth and expansion into new markets, or to complete or integrate acquisitions and developments successfully; reductions in asset valuations and related impairment charges; risks and uncertainties affecting property development and construction; risks associated with tax credits, grants and other subsidies to fund development activities; risks associated with downturns in foreign, domestic and local economies, changes in interest rates and foreign currency exchange rates, and volatility in the securities markets; ownership of properties outside of the United States that subject the company to different and potentially greater risks than those associated with the company's domestic operations; risks associated with the company's investments in loans, including borrower defaults and potential principal losses; potential liability for uninsured losses and environmental contamination; risks associated with the company's potential failure to qualify as a REIT under the Internal Revenue Code of 1986, as amended, and possible adverse changes in tax and environmental laws; and risks associated with the company's dependence on key personnel whose continued service is not guaranteed. For a further list and description of such risks and uncertainties, see the reports filed by the company with the Securities and Exchange Commission, including the company's most recent annual report on Form 10-K and quarterly reports on Form 10-Q. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. 

Logo - http://photos.prnewswire.com/prnh/20091005/BIOMEDLOGO

 

SOURCE BioMed Realty

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
When growing capacity and power in the data center, the architectural trade-offs between server scale-up vs. scale-out continue to be debated. Both approaches are valid: scale-out adds multiple, smaller servers running in a distributed computing model, while scale-up adds fewer, more powerful servers that are capable of running larger workloads. It’s worth noting that there are additional, unique advantages that scale-up architectures offer. One big advantage is large memory and compute capacity...
Both SaaS vendors and SaaS buyers are going “all-in” to hyperscale IaaS platforms such as AWS, which is disrupting the SaaS value proposition. Why should the enterprise SaaS consumer pay for the SaaS service if their data is resident in adjacent AWS S3 buckets? If both SaaS sellers and buyers are using the same cloud tools, automation and pay-per-transaction model offered by IaaS platforms, then why not host the “shrink-wrapped” software in the customers’ cloud? Further, serverless computing, cl...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
The taxi industry never saw Uber coming. Startups are a threat to incumbents like never before, and a major enabler for startups is that they are instantly “cloud ready.” If innovation moves at the pace of IT, then your company is in trouble. Why? Because your data center will not keep up with frenetic pace AWS, Microsoft and Google are rolling out new capabilities. In his session at 20th Cloud Expo, Don Browning, VP of Cloud Architecture at Turner, posited that disruption is inevitable for comp...
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
IoT solutions exploit operational data generated by Internet-connected smart “things” for the purpose of gaining operational insight and producing “better outcomes” (for example, create new business models, eliminate unscheduled maintenance, etc.). The explosive proliferation of IoT solutions will result in an exponential growth in the volume of IoT data, precipitating significant Information Governance issues: who owns the IoT data, what are the rights/duties of IoT solutions adopters towards t...
It is ironic, but perhaps not unexpected, that many organizations who want the benefits of using an Agile approach to deliver software use a waterfall approach to adopting Agile practices: they form plans, they set milestones, and they measure progress by how many teams they have engaged. Old habits die hard, but like most waterfall software projects, most waterfall-style Agile adoption efforts fail to produce the results desired. The problem is that to get the results they want, they have to ch...
Wooed by the promise of faster innovation, lower TCO, and greater agility, businesses of every shape and size have embraced the cloud at every layer of the IT stack – from apps to file sharing to infrastructure. The typical organization currently uses more than a dozen sanctioned cloud apps and will shift more than half of all workloads to the cloud by 2018. Such cloud investments have delivered measurable benefits. But they’ve also resulted in some unintended side-effects: complexity and risk. ...
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, discussed some of the security challenges of the IoT infrastructure and related how these aspects impact Smart Living. The material was delivered interac...
No hype cycles or predictions of zillions of things here. IoT is big. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, Associate Partner at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He discussed the evaluation of communication standards and IoT messaging protocols, data analytics considerations, edge-to-cloud tec...
The Internet giants are fully embracing AI. All the services they offer to their customers are aimed at drawing a map of the world with the data they get. The AIs from these companies are used to build disruptive approaches that cannot be used by established enterprises, which are threatened by these disruptions. However, most leaders underestimate the effect this will have on their businesses. In his session at 21st Cloud Expo, Rene Buest, Director Market Research & Technology Evangelism at Ara...
"When we talk about cloud without compromise what we're talking about is that when people think about 'I need the flexibility of the cloud' - it's the ability to create applications and run them in a cloud environment that's far more flexible,” explained Matthew Finnie, CTO of Interoute, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
A look across the tech landscape at the disruptive technologies that are increasing in prominence and speculate as to which will be most impactful for communications – namely, AI and Cloud Computing. In his session at 20th Cloud Expo, Curtis Peterson, VP of Operations at RingCentral, highlighted the current challenges of these transformative technologies and shared strategies for preparing your organization for these changes. This “view from the top” outlined the latest trends and developments i...
Artificial intelligence, machine learning, neural networks. We’re in the midst of a wave of excitement around AI such as hasn’t been seen for a few decades. But those previous periods of inflated expectations led to troughs of disappointment. Will this time be different? Most likely. Applications of AI such as predictive analytics are already decreasing costs and improving reliability of industrial machinery. Furthermore, the funding and research going into AI now comes from a wide range of com...
Cloud Expo, Inc. has announced today that Andi Mann and Aruna Ravichandran have been named Co-Chairs of @DevOpsSummit at Cloud Expo Silicon Valley which will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. "DevOps is at the intersection of technology and business-optimizing tools, organizations and processes to bring measurable improvements in productivity and profitability," said Aruna Ravichandran, vice president, DevOps product and solutions marketing...