SAN DIEGO, April 15 /PRNewswire-FirstCall/ -- BioMed Realty Trust, Inc. (NYSE: BMR) today announced that Mark Riedy will retire from its board of directors concurrently with the company's annual meeting of stockholders, scheduled for May 21, 2008.
Dr. Riedy, the Ernest W. Hahn Professor of Real Estate Finance and Executive Director of the Burnham-Moores Center for Real Estate at the University of San Diego, has been a member of the company's board of directors since its initial public offering in 2004, and also served as a member of the board's compensation committee and as past chair and current member of the board's audit committee.
"We are thankful for all of Mark's valuable contributions to BioMed over the past four years," said Alan Gold, President and Chief Executive Officer of BioMed Realty Trust. "During his tenure, BioMed has grown from 13 properties, representing an aggregate of 2.3 million rentable square feet, at its initial public offering in 2004 to 68 properties, representing 8.5 million rentable square feet and 1.9 million square feet of development in progress, which are positioned in some of the country's most sought-after locations for life science space. His insight and experience have helped advance BioMed to where it is today, with the solid financial and operational foundation upon which we will continue to execute on our mission of being the leading provider of real estate to the life science industry."
About BioMed Realty Trust
BioMed Realty Trust, Inc. is a real estate investment trust (REIT) focused on Providing Real Estate to the Life Science Industry(R). The company's tenants primarily include biotechnology and pharmaceutical companies, scientific research institutions, government agencies and other entities involved in the life science industry. BioMed Realty Trust owns or has interests in 68 properties, representing 104 buildings with approximately 8.5 million rentable square feet, as well as approximately 1.9 million square feet of development in progress. These properties are located predominantly in the major U.S. life science markets of Boston, San Diego, San Francisco, Seattle, Maryland, Pennsylvania and New York/New Jersey, which have well-established reputations as centers for scientific research. Additional information is available at http://www.biomedrealty.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: 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 and the use of debt to fund acquisitions and developments; failure to manage effectively the company's growth and expansion into new markets, or to complete or integrate acquisitions and developments successfully; risks and uncertainties affecting property development and construction; risks associated with downturns in the national and local economies, increases in interest rates, and volatility in the securities markets; 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.
SOURCE BioMed Realty Trust, Inc.