BioMed buys $132.9 million in real estate properties

Local REIT believes life-science sector offers strong potential in a sluggish commercial market

By Roger Showley, UNION-TRIBUNE
Thursday, September 9, 2010 at noon

In a vote for the strength of the local life-sciences real estate sector, Rancho Bernardo-based BioMed Realty Trust Inc. has announced its pending purchase of 14 buildings in Sorrento Valley, Torrey Pines Mesa and the University Towne Centre area for $132.9 million. The deals are expected to close in three transactions; the sellers and cooperating brokers have not yet been disclosed.

“We are excited about these investment opportunities, which serve as prime examples of our consistently disciplined focus and our ability to execute on our strategy of acquiring high-quality properties, well located within the core life-science markets,â€