Institute to Remain on Campus via 10 Year Renewable Sale-Leaseback
ROCKVILLE, Md., May 4 /PRNewswire-USNewswire/ -- The J. Craig Venter Institute (JCVI) announced today the sale of their Rockville, MD campus, which includes five buildings, to BioMed Realty Trust, Inc. (NYSE: BMR) for $53 million. The JCVI will continue to conduct research on this campus indefinitely and will lease back their headquarters building in a 10 year renewable term from BioMed.
"We are pleased to be working with BioMed as a real estate partner as it will enable us to remain financially sound for the foreseeable future, and ensure that we can continue our groundbreaking genomic science," said J. Craig Venter, Ph.D., Founder and President, JCVI.
Dr. Venter added, "JCVI and its legacy organizations have a long history in the Rockville, Maryland area as it is a wonderful environment to do science. With our more than 300 scientists and staff here in Rockville, along with our team of nearly 100 in San Diego, California we look forward to a long and prosperous future conducting the research that will positively change the world."
Commenting on the company's latest acquisition in Maryland, Alan D. Gold, BioMed's Chairman and Chief Executive Officer, said, "We are very excited about forging this new relationship with the Venter Institute through this acquisition. Dr. Venter and his research teams are truly pioneers in genomic science and are conducting some of the most promising research to enhance the quality of life. Acquiring and operating this state-of-the-art life science campus in one of our core markets, with the campus anchored by a world-renowned research institution, is an excellent illustration of our execution on BioMed's growth strategy. We look forward to supporting the Venter Institute's goals of advancing the science of genomics for many years to come."
About the J. Craig Venter Institute
The JCVI is a not-for-profit research institute in Rockville, MD and San Diego, CA dedicated to the advancement of the science of genomics; the understanding of its implications for society; and communication of those results to the scientific community, the public, and policymakers. Founded by J. Craig Venter, Ph.D., JCVI is home to approximately 400 scientists and staff with expertise in human and evolutionary biology, genetics, bioinformatics/informatics, information technology, high-throughput DNA sequencing, genomic and environmental policy research, and public education in science and science policy. The legacy organizations of the JCVI are: The Institute for Genomic Research (TIGR), The Center for the Advancement of Genomics (TCAG), the Institute for Biological Energy Alternatives (IBEA), the Joint Technology Center (JTC), and the J. Craig Venter Science Foundation. The JCVI is a 501 (c)(3) organization. For additional information, please visit http://www.JCVI.org.
About BioMed Realty Trust
BioMed Realty Trust, Inc. is a real estate investment trust (REIT) focused on Providing Real Estate to the Life Science Industry®. The company's tenants primarily include biotechnology and pharmaceutical companies, scientific research institutions, government agencies and other entities involved in the life science industry. BioMed owns or has interests in 72 properties, representing 119 buildings with approximately 11.0 million rentable square feet. The company's properties are located predominantly in the major U.S. life science markets of Boston, San Diego, San Francisco, Seattle, Maryland, Pennsylvania and New York/New Jersey, which have well-established reputations as centers for scientific research.
SOURCE J. Craig Venter Institute