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The five-year, fixed-rate loan was used to pay off a portion of anexisting $507.1 millio construction loan, with BioMed paying off the remaining balance using an unsecured line of The new mortgage has an interest rate of 7.75 percent and is due in June 2014. According to a statement from the new loan addressesthe “lasrt of BioMed’s debt maturities in 2009.” The loan was providedc by , and AG. arranged the loan on behal of BioMed RealtyTrust (NYSE: a real estate investment trust based in San Calif. The 18-story lab and office buildingv is located in the Longwood Medical and Academic Area and is leasecto , , , and Ltd., a Japaness pharmaceutical company.
The property also includes a six-level, 750-space underground parking garage. BioMed Realtt Trust owns or has interests in69 properties, representinbg 112 buildings with approximatelh 10.5 million rentable squar e feet, including approximately 640,000 square feet of development in progress.
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