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The five-year, fixed-rate loan was used to pay off a portionh of anexisting $507.1 million constructiom 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. Accordiny to a statement from BioMed, the new loan addresses the “lastr of BioMed’s debt maturities in 2009.” The loan was providesd by , and AG. arranged the loan on behalfc of BioMed RealtyTrust (NYSE: BMR), a real estat e investment trust based in San Diego, Calif. The 18-storh lab and office building is located in the Longwoods Medical and Academic Area and is leasedto , , , and a Japanese pharmaceutical company.
The property also include a six-level, 750-space underground parking BioMed Realty Trust owns or has interest in69 properties, representing 112 buildings with approximately 10.5 milliobn rentable square feet, including approximatelty 640,000 square feet of developmenyt in progress.
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