BioMed Realty Trust begins 13.5 million share sale; to help cover acquisitions, debt payments

BioMed to sell 13.5M shares to fund acquisitions

SAN DIEGO — BioMed Realty Trust Inc. on Wednesday said it is selling 13.5 million shares of common stock.

The real estate investment trust, which focuses on locations for biotechnology and pharmaceutical companies and scientific research facilities, said it plans to use the proceeds of the offering to partly fund recently announced acquisitions and repay debt.

BioMed expects to grant the underwriters a 30-day option to purchase an additional 2 million shares to cover over-allotments, if any.

Wells Fargo Securities, Raymond James & Assoc., Morgan Stanley and UBS Securities are the joint book-running managers, and Deutsche Bank Securities and KeyBanc Capital Markets are co-lead managers for the offering.

In aftermarket electronic trading, BioMed shares fell 70 cents, or 3.8 percent, to $17.73, from their close in Wednesday’s regular session at $18.43.