BioMed Realty Trust Inc., a life science property owner with a large presence around Boston, reported that its fourth-quarter net income fell to $477,000 from $5.6 million during the same period in 2008.

In 2009, net income slipped to $41.8 million compared to $44.1 million in 2008.

The company also reported that total revenues for the fourth quarter climbed 6.3 percent year-over-year to $88.2 million. In 2009, total revenues jumped 19.6 percent, to $361.2 million from $302 million in 2008.

Generated funds from operations (FFO) for the quarter was $28 million. In 2009, generated FFO was $155.5 million, or $1.64 per diluted share, compared to $132.5 million, or $1.76 per diluted share, in 2008.

BioMed recently completed the 700,000-square-foot Center for Life Science in Boston, which achieved gold LEED certification. The San Diego company also further strengthened its balance sheet by closing on a $350 million loan for the Center for Life Science and a $203 million secured loan facility for the company’s joint venture with a fund managed by Prudential Real Estate Investors (PREI) which owns, among other properties, approximately 600,000-square-feet of life science space in Cambridge.

"BioMed’s robust business model and disciplined execution were clearly evident from the strong results of the fourth quarter and full-year 2009," said Alan D. Gold, BioMed’s chairman and chief executive officer. "Powerful long-term demand drivers for the life science industry continue to fuel drug research and development efforts throughout the seven core life science markets which, in turn, attract capital used to fund mission-critical laboratory space … These exceptional results in 2009, and throughout our five-year history, demonstrate the ability of our outstanding team of professionals to support the life science industry’s real estate needs and position the company well for future growth opportunities, continuing to create value for our shareholders."