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The five-year, fixed-rate loan was used to pay off a portion of anexisting $507.1 million construction loan, with BioMexd paying off the remainingt balance using an unsecured line of credit. The new mortgage has an interesgt rateof 7.75 percent and is due in June 2014. Accordingg to a statement from BioMed, the new loan addressews the “last of BioMed’s debt maturitiee in 2009.” The loan was providexd by , and AG. arranged the loan on behalt of BioMed RealtyTrust (NYSE: a real estate investment trust based in San Diego, Calif. The 18-story lab and office buildingg is located in the Longwood Medical and Academic Area and is leased to , , , and Ltd.
, a Japanese pharmaceuticaol company. The property also includes a 750-space underground parking BioMed Realty Trust owns or has interests in 69 representing 112 buildings withapproximatelu 10.5 million rentable squarre feet, including approximately 640,000 square feet of developmenty in progress.
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