BioMed Realty Trust, Inc., a self-managed real estate investment trust (REIT), announced that it would purchase two Rockville laboratory and office buildings for $26.2 million. The two buildings at 9900/9901 Belward Drive in Rockville, Maryland are under contract and comprise 106,500 square feet of space. According to a press release of the company's first quarter financial results, the properties will be approximately 93% leased at the time of closing, scheduled for the second quarter and subject to customary closing conditions.
BioMed will assume loans secured by mortgages on the two buildings with an aggregate principal balance of approximately $24.1 million, a weighted-average interest rate of approximately 5.64% and maturity dates in June 2017. Located near the Shady Grove Life Sciences Center in Montgomery County, the properties are part of the Belward Office Park developed by Foulger-Pratt of Rockville.
For more news and information visit Blumberg Capital Partners.
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