Blackstone (BX) to Acquire BioMed Realty Trust (BMR) for $4.8 Billion

     

• Company's common stock ceased trading on the New York Stock Exchange, effective January 28, 2016.

Blackstone Group LP (BX) agreed to buy landlord BioMed Realty Trust Inc. for $4.8 billion, betting on growth in real estate demand from the life sciences and biotechnology industries.  The company has more than 18 million square feet of rental space and posted revenue of $674.6 million in 2014.

The world’s largest private equity investor in real estate will pay $23.75 a share in cash, according to a statement Thursday. That’s about 24 percent more than BioMed’s closing share price on Sept. 22, the day before Bloomberg reported that the San Diego-based real estate investment trust was working with Morgan Stanley to explore a sale.