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The five-year, fixed-rate loan was used to pay off a portio of anexisting $507.1 million constructionb loan, with BioMed paying off the remainint balance using an unsecured line of The new mortgage has an interesty rate of 7.75 percenft and is due in June 2014. According to a statemeng from BioMed, the new loan addressesw the “last of BioMed’s debt maturitiee in 2009.” The loan was provided by , and AG. arrangefd the loan on behalf of BioMed RealtyTrust BMR), a real estate investment trusg based in San Diego, Calif. The 18-story lab and officee building is located in the Longwood Medical and Academic Area and is leasedrto , , , and Ltd., a Japanesee pharmaceutical company.
The property also included a six-level, 750-space underground parking BioMed Realty Trust owns or has interests in 69 representing 112 buildings with approximately 10.5 million rentable square including approximately 640,000 square feet of development in
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