BioMed Realty Trust Inc., a life science property owner with a large presence around Boston, has reported a 21.6 percent year-over-year jump in total revenues for the second quarter, to $86.1 million, driven primarily by leasing success and deliveries from the company’s development pipeline.
The trust reported second-quarter net income of $23.1 million, compared to $18.6 million in the same period last year – a 24.2 percent increase.
The trust also executed 17 leasing transactions during the quarter, representing approximately 250,000 square feet.
The trust secured a new $350 million loan for the Center for Life Science in Boston, the company’s newly constructed approximately 700,000-square-foot, state-of-the-art research facility that recently received Gold LEED certification from the U.S. Green Building Council.
Funds from operations (FFO) increased for the quarter to $44 million, compared to $34.1 million, for the same period in 2008. Excluding the impact of debt extinguishment associated with the repurchase of exchangeable senior notes, FFO for the quarter was $41.4 million.
