Wexford Science & Technology to Merge with BioMed Realty Trust

BioMed Realty Trust, Inc. (NYSE: BMR) has recently announced that it has entered into a definitive agreement to merge with Wexford Science & Technology, LLC, a subsidiary of Wexford Equities, LLC, furthering BioMed Realty’s position as the leading provider of real estate to the life science industry. Wexford Science & Technology is a private real estate investment and development company that owns and develops institutional quality life science real estate for academic and medical research organizations, and that boasts well-regarded skills for urban development and redevelopment of life science real estate. The aggregate consideration for Wexford Science & Technology is approximately $640 million, excluding transaction costs and subject to adjustment based on working capital levels and construction and development costs incurred prior to closing. Wexford Science & Technology will operate as a wholly owned subsidiary of BioMed Realty.

“The combination of BioMed Realty and Wexford Science & Technology further expands our footprint into the university markets with high-quality assets, credit tenants and long-term leases,” said BioMed Realty’s Chairman and Chief Executive Officer, Alan D. Gold. “In addition, it accelerates our growth as the leading provider of real estate to the life science industry.”

“This is truly a merger of two companies with complimentary approaches, outstanding capabilities, premier projects, world-class partners and unparalleled opportunities,” said Jim Berens, Wexford Chairman and BRDG Park board member.  “The financial strength of BioMed Realty broadens our capabilities and enables us to accelerate implementation of our knowledge community vision to the benefit of our academic and research partners, tenants, communities and stakeholders.”

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