Connect with us

Hi, what are you looking for?

Jewish Business News


Blackstone to buy BioMed in $8 Billion transaction



Blackstone Group LP agreed to buy BioMed Realty Trust Inc, a supplier of office space to health care companies, in a deal valued at $8 billion, adding to the private equity firm’s huge real estate portfolio.

BioMed’s shares were up 8.6 per cent at $23.45 in premarket trading, just shy of the offer price of $23.75.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

Real estate has become Blackstone’s most high-profile and lucrative business, and the company has been snapping up commercial properties across the United States and Europe.

The all-cash offer, by Blackstone’s real estate arm, of $23.75 per share represents a premium of 10 per cent to BioMed’s close of $21.59 on Wednesday.

The offer represents a premium of 24 per cent to BioMed’s closing price on Sept. 22, when Bloomberg first reported of Blackstone’s interest.

LAB, OFFICE SPACE DEMAND The biotech and pharma industry has experienced robust growth in recent years due to an ageing population and faster FDA approvals.

Analysts say this in turn has driven demand for additional lab and office space for such companies.

BioMed, which owns office buildings catering to health care companies, has interests in properties comprising about 18.8 million rentable square feet.

The company’s shares have been trading at a discount, affected by volatile earnings and a lower-quality portfolio than its closest peer Alexandria Real Estate Equities Inc, BMO Capital Market analysts said in a note in September.

Demand for high-quality, institutional real estate to support the unprecedented growth of the life science industry is at historic levels, BioMed Chief Executive Alan Gold said.

The deal is expected to close in the first quarter of 2016.

Morgan Stanley & Co is lead financial adviser to BioMed Realty. Citigroup Global Markets Inc, J.P. Morgan Securities and Bank of America Merrill Lynch are advising Blackstone.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.