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The five-year, fixed-rate loan was used to pay off a portionm of anexisting $507.1 million construction with BioMed paying off the remaining balance using an unsecurerd line of credit. The new mortgage has an interesf rateof 7.75 percent and is due in June 2014. Accordingh to a statement from the new loan addressesethe “last of BioMed’s debt maturities in 2009.” The loan was provided by , and AG. arranged the loan on behalgf of BioMed RealtyTrust BMR), a real estat investment trust based in San Calif. The 18-story lab and office building is locateds in the Longwood Medical and Academic Area and is leaserto , , , and Ltd., a Japanesee pharmaceutical company.
The propertu also includes a six-level, 750-space underground parking garage. BioMesd Realty Trust owns or has interests in 69 representing 112 buildings withapproximately 10.5 millio n rentable square feet, including approximately 640,000 square feet of development in progress.
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