San Diego Business Journal

Revenue, Net Income Rise at BioMed Realty Trust

By Lou Hirsh Thursday, February 6, 2014

San Diego-based BioMed Realty Trust Inc. saw revenue rise 14 percent from a year ago in its fourth quarter ending Dec. 31, topping $157.9 million.

The company reported net income available to common stockholders of $10.3 million for the quarter, up from $4.5 million in the year-ago quarter. Adjusted funds from operations, an industry recognized supplemental metric gauging the performance of real estate portfolios, came in at $65.4 million for the quarter, up from $55 million a year ago.

For the full-year 2013, revenue rose 23 percent, to $637.3 million. Net income available to common stockholders was $37.7 million, compared with a net loss of $2.8 million in 2012.

The year’s adjusted funds from operations available to common shareholders was $281.5 million, up from $216.4 million in 2012.

Company officials said BioMed added 63 new jobs in 2013, with 23 of those in San Diego. The real estate investment trust made a total of $856 million in investments during the year, comprising approximately 2.9 million square feet.

BioMed Realty Trust (NYSE: BMR), with headquarters in Rancho Bernardo, invests primarily in commercial properties tied to the life-sciences industry.