##### Table of Contents





UNITED STATES SECURITIES AND
    EXCHANGE COMMISSIONWashington, D.C.
    20549
      Form 10-K
   ANNUAL REPORT
    PURSUANT TO SECTION 13 OR 15(d)
    OF THE SECURITIES EXCHANGE ACT OF 1934
  For the fiscal year ended December 31, 2007
  Commission file
    number: 1-32261
   
  BIOMED REALTY TRUST,
    INC.
 (Exact name of registrant as
    specified in its charter)
  Maryland

20-1142292(State or other jurisdiction
    of

(I.R.S. Employer Identification
    No.)incorporation or
    organization)17190 Bernardo Center Drive

92128San Diego, California

(Zip Code)(Address of Principal Executive
    Offices)   (858) 485-9840
 (Registrants telephone
    number, including area code)
  Securities
    registered pursuant to Section 12(b) of the Act:
  Title of Each Class

Name of Each Exchange on Which RegisteredCommon Stock, $0.01 Par Value

New York Stock Exchange7.375% Series A Cumulative Redeemable Preferred Stock,
    $0.01 Par Value

New York Stock Exchange   Securities
    registered pursuant to Section 12(g) of the Act:
    None
  þ o
  o þ
  þ o
  Regulation S-K Form 10-K Form 10-K. o
  Rule 12b-2
  Large
    accelerated
    filer þ
    Accelerated
    filer o
    Non-accelerated
    filer o
    Smaller
    reporting
    company o   Rule 12b-2 o þ
      DOCUMENTS
    INCORPORATED BY REFERENCE




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##### 





BIOMED
    REALTY TRUST, INC.
  FORM 10-K 
    ANNUAL REPORT
    FOR THE YEAR ENDED DECEMBER 31, 2007
  TABLE OF
    CONTENTS
   
 PagePART IItem 1


Business


2Item 1A


Risk Factors


8Item 1B


Unresolved Staff Comments


25Item 2


Properties


25Item 3


Legal Proceedings


29Item 4


Submission of Matters to a Vote of Security
    Holders


29PART IIItem 5


Market for Registrants Common Equity,
    Related Stockholder Matters and Issuer Purchases of Equity
    Securities


30Item 6


Selected Financial Data


30Item 7


Managements Discussion and Analysis of
    Financial Condition and Results of Operations


32Item 7A


Quantitative and Qualitative Disclosures About
    Market Risk


50Item 8


Financial Statements and Supplementary Data


52Item 9


Changes in and Disagreements with Accountants on
    Accounting and Financial Disclosure


92Item 9A


Controls and Procedures


92Item 9B


Other Information


93PART IIIItem 10


Directors, Executive Officers and Corporate
    Governance


93Item 11


Executive Compensation


93Item 12


Security Ownership of Certain Beneficial Owners
    and Management and Related Stockholder Matters


93Item 13


Certain Relationships and Related Transactions,
    and Director Independence


93Item 14


Principal Accountant Fees and Services


94PART IVItem 15


Exhibits and Financial Statement Schedules


94EXHIBIT 12.1EXHIBIT 21.1EXHIBIT 23.1EXHIBIT 31.1EXHIBIT 31.2EXHIBIT 32.1   1




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##### Table of Contents



PART I  Item 1.
    Business  Forward-Looking
    Statements
    
    adverse economic or real estate developments in the life science
    industry or in our target markets,
    general economic conditions,
    our ability to compete effectively,
    defaults on or non-renewal of leases by tenants,
    increased interest rates and operating costs,
    our failure to obtain necessary outside financing,
    our ability to successfully complete real estate acquisitions,
    developments and dispositions,
    risks and uncertainties affecting property development and
    construction,
    our failure to successfully operate acquired properties and
    operations,
    our failure to maintain our status as a real estate investment
    trust, or REIT,
    government approvals, actions and initiatives, including the
    need for compliance with environmental requirements,
    financial market fluctuations, and
    changes in real estate and zoning laws and increases in real
    property tax rates.    General
   2




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(858) 485-9840. Form 10-K, Form 10-Q, Form 8-K
  2007
    Highlights
  15-year 15-year
       3




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RentableProperty

Acquisition Date

Square Feet


Purchase PriceTorreyana Road

March 22, 2007


81,204


$
33,0006114-6154
    Nancy Ridge Drive

May 2, 2007


112,000



50,1009920 Belward Campus Drive

May 8, 2007


51,181



15,000Pacific Center Boulevard

August 24, 2007


66,745



16,500Forbes Boulevard

September 5, 2007


237,984



32,500549,114


$
147,100     Subsequent
    Events
    Growth
    Strategy
      
    negotiating leases with contractual rental rate increases in
    order to provide predictable and consistent earnings growth, 4




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
    creating strong relationships with our tenants to enable us to
    identify and capitalize on opportunities to renew or extend
    existing leases or to provide expansion space,
    redeveloping currently owned non-laboratory space into higher
    yielding laboratory facilities, and
    developing new laboratory and office space on land we have
    acquired for development.    
    acquiring well-located properties leased to high-quality life
    science tenants with attractive in-place yields and long-term
    growth potential,
    investing in properties with leasing opportunities, capitalizing
    on our industry relationships to enter into new leases, and
    investing in redevelopment and development projects,
    capitalizing on our development platform that we believe will
    serve as an additional catalyst for future growth.  Target
    Markets
    Positive
    Life Science Industry Trends
    
    the aging of the U.S. population resulting from the
    transition of baby boomers to senior citizens, which has
    increased the demand for new drugs and health care treatment
    alternatives,
    the existing high level of, and continuing increase in, research
    and development expenditures, as represented by a Pharmaceutical
    Research and Manufacturers of America (PhRMA) survey indicating
    that research and development spending by its members climbed to
    a record $43.0 billion in 2006 from $39.9 billion in
    the prior year, and when combined with non-member companies,
    totaled a record $55.2 billion in 2006, and
    escalating health care costs, which drive the demand for better
    drugs, less expensive treatments and more services in an attempt
    to manage such costs.    Experienced
    Management
    Regulation
  General
   5




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Americans
    with Disabilities Act
    Environmental
    Matters
  clean-up clean-up clean-up
  and/or
   6




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Insurance
   7




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Competition
    
    our expertise in understanding the real estate needs of life
    science industry tenants,
    our ability to identify, acquire and develop properties with
    generic laboratory infrastructure that appeal to a wide range of
    life science industry tenants, and
    our expertise in identifying and evaluating life science
    industry tenants.    Foreign
    Operations
    Item 1A.
    Risk
    Factors    Risks
    Related to Our Properties, Our Business and Our Growth
    Strategy
  Because we lease our properties to a limited number of
    tenants, and to the extent we depend on a limited number of
    tenants in the future, the inability of any single tenant to
    make its lease payments could adversely affect our business and
    our ability to make distributions to our stockholders.
    We may be unable to acquire, develop or operate new
    properties successfully, which could harm our financial
    condition and ability to pay distributions to our
    stockholders.
 8




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
    changing market conditions, including competition from others,
    may diminish our opportunities for acquiring a desired property
    on favorable terms or at all. Even if we enter into agreements
    for the acquisition of properties, these agreements are subject
    to customary conditions to closing, including completion of due
    diligence investigations to our satisfaction,
    we may be unable to obtain financing on favorable terms (or at
    all),
    we may spend more time or money than we budget to improve or
    renovate acquired properties or to develop new properties,
    we may be unable to quickly and efficiently integrate new
    properties, particularly if we acquire portfolios of properties,
    into our existing operations,
    we may fail to obtain the financial results expected from the
    properties we acquire or develop, making them unprofitable or
    less profitable than we had expected,
    market and economic conditions may result in higher than
    expected vacancy rates and lower than expected rental rates,
    we may fail to retain tenants that have pre-leased our
    properties under development if we do not complete the
    construction of these properties in a timely manner or to the
    tenants specifications,
    we have a limited history in conducting
    ground-up
    construction activities,
    if we develop properties, we may encounter delays or refusals in
    obtaining all necessary zoning, land use, building, occupancy
    and other required governmental permits and authorizations,
    acquired and developed properties may have defects we do not
    discover through our inspection processes, including latent
    defects that may not reveal themselves until many years after we
    put a property in service, and
    we may acquire land, properties or entities owning properties,
    which are subject to liabilities and for which, in the case of
    unknown liabilities, we may have limited or no recourse.      Tenants in the life science industry face high levels of
    regulation, expense and uncertainty that may adversely affect
    their ability to pay us rent and consequently adversely affect
    our business.
    
    Our tenants require significant outlays of funds for the
    research and development and clinical testing of their products
    and technologies. If private investors, the government, public
    markets or other sources of funding are unavailable to support
    such development, a tenants business may fail. 9




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
    The research and development, clinical testing, manufacture and
    marketing of some of our tenants products require federal,
    state and foreign regulatory approvals. The approval process is
    typically long, expensive and uncertain. Even if our tenants
    have sufficient funds to seek approvals, one or all of their
    products may fail to obtain the required regulatory approvals on
    a timely basis or at all. Furthermore, our tenants may only have
    a small number of products under development. If one product
    fails to receive the required approvals at any stage of
    development, it could significantly adversely affect our
    tenants entire business and its ability to pay rent.
    Our tenants with marketable products may be adversely affected
    by health care reform efforts and the reimbursement policies of
    government or private health care payers.
    Our tenants may be unable to adequately protect their
    intellectual property under patent, copyright or trade secret
    laws. Failure to do so could jeopardize their ability to profit
    from their efforts and to protect their products from
    competition.
    Collaborative relationships with other life science entities may
    be crucial to the development, manufacturing, distribution or
    marketing of our tenants products. If these other entities
    fail to fulfill their obligations under these collaborative
    arrangements, our tenants businesses will suffer.    Because particular upgrades are required for life science
    tenants, improvements to our properties involve greater
    expenditures than traditional office space, which costs may not
    be covered by the rents our tenants pay.
    
    reinforced concrete floors,
    upgraded roof structures for greater load capacity,
    increased
    floor-to-ceiling
    clear heights,
    heavy-duty HVAC systems,
    enhanced environmental control technology,
    significantly upgraded electrical, gas and plumbing
    infrastructure, and
    laboratory benchwork.    Because of the unique and specific improvements required for
    our life science tenants, we may be required to incur
    substantial renovation costs to make our properties suitable for
    other life science tenants or other office tenants, which could
    adversely affect our operating performance.
   10




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The geographic concentration of our consolidated properties
    in Boston, Maryland and California makes our business
    particularly vulnerable to adverse conditions affecting these
    markets.
    Our tax indemnification and debt maintenance obligations
    require us to make payments if we sell certain properties or
    repay certain debt, which could limit our operating
    flexibility.
     11




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Our expansion strategy may not yield the returns expected,
    may result in disruptions to our business, may strain our
    management resources and may adversely affect our operations.
      Our success depends on key personnel with extensive
    experience dealing with the real estate needs of life science
    tenants, and the loss of these key personnel could threaten our
    ability to operate our business successfully.
    The bankruptcy of a tenant may adversely affect the income
    produced by and the value of our properties.
   12




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Future acts of terrorism or war or the risk of war may have a
    negative impact on our business.
    Risks
    Related to the Real Estate Industry
  Significant competition may decrease or prevent increases in
    our properties occupancy and rental rates and may reduce
    our investment opportunities.
    Uninsured and underinsured losses could adversely affect our
    operating results and our ability to make distributions to our
    stockholders.
     13




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Our performance and value are subject to risks associated
    with the ownership and operation of real estate assets and with
    factors affecting the real estate industry.
    
    local oversupply, increased competition or reduced demand for
    life science office and laboratory space,
    inability to collect rent from tenants,
    vacancies or our inability to rent space on favorable terms,
    increased operating costs, including insurance premiums,
    utilities and real estate taxes,
    the ongoing need for capital improvements, particularly in older
    structures,
    unanticipated delays in the completion of our development or
    redevelopment projects,
    costs of complying with changes in governmental regulations,
    including tax laws,
    the relative illiquidity of real estate investments,
    changing submarket demographics, and
    civil unrest, acts of war and natural disasters, including
    earthquakes, floods and fires, which may result in uninsured and
    underinsured losses.    
    periods of economic slowdown or recession,
    rising interest rates,
    declining demand for real estate, or
    the public perception that any of these events may occur.    Illiquidity of real estate investments may make it difficult
    for us to sell properties in response to market conditions and
    could harm our financial condition and ability to make
    distributions.
  triple-net
 14




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We may be unable to renew leases, lease vacant space or
    re-lease space as leases expire, which could adversely affect
    our business and our ability to pay distributions to our
    stockholders.
    We could incur significant costs related to government
    regulation and private litigation over environmental matters
    involving the presence, discharge or threat of discharge of
    hazardous or toxic substances, which could adversely affect our
    operations, the value of our properties, and our ability to make
    distributions to our stockholders.
    
    the owners knowledge of the contamination,
    the timing of the contamination,
    the cause of the contamination, or
    the party responsible for the contamination.     15




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
    may require the removal or upgrade of underground storage tanks,
    regulate the discharge of storm water, wastewater and other
    pollutants,
    regulate air pollutant emissions,
    regulate hazardous materials generation, management and
    disposal, and
    regulate workplace health and safety.    We could incur significant costs related to governmental
    regulation and private litigation over environmental matters
    involving asbestos-containing materials, which could adversely
    affect our operations, the value of our properties, and our
    ability to make distributions to our stockholders.
    Our properties may contain or develop harmful mold, which
    could lead to liability for adverse health effects and costs of
    remediating the problem, which could adversely affect the value
    of the affected property and our ability to make distributions
    to our stockholders.
    Compliance with the Americans with Disabilities Act and
    similar laws may require us to make significant unanticipated
    expenditures.
   16




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We may incur significant unexpected costs to comply with
    fire, safety and other regulations, which could adversely impact
    our financial condition, results of operations, and ability to
    make distributions.
    Risks
    Related to Our Capital Structure
  Debt obligations expose us to increased risk of property
    losses and may have adverse consequences on our business
    operations and our ability to make distributions.
    
    Required payments of principal and interest may be greater than
    our cash flow from operations.
    We may be forced to dispose of one or more of our properties,
    possibly on disadvantageous terms, to make payments on our debt.
    If we default on our debt obligations, the lenders or mortgagees
    may foreclose on our properties that secure those loans.
    Further, if we default under a mortgage loan, we will
    automatically be in default on any other loan that has
    cross-default provisions, and we may lose the properties
    securing all of these loans.
    A foreclosure on one of our properties will be treated as a sale
    of the property for a purchase price equal to the outstanding
    balance of the secured debt. If the outstanding balance of the
    secured debt exceeds our tax basis in the property, we would
    recognize taxable income on foreclosure without realizing any
    accompanying cash proceeds to pay the tax (or to make
    distributions based on REIT taxable income).
    We may not be able to refinance or extend our existing debt. If
    we cannot repay, refinance or extend our debt at maturity, in
    addition to our failure to repay our debt, we may be unable to
    make distributions to our stockholders at expected levels or at
    all.
    Even if we are able to refinance or extend our existing debt,
    the terms of any refinancing or extension may not be as
    favorable as the terms of our existing debt. If the refinancing
    involves a higher interest rate, it could adversely affect our
    cash flow and ability to make distributions to stockholders.  |
 17




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Recent disruptions in the financial markets could affect our
    ability to obtain debt financing on reasonable terms and have
    other adverse effects on us.
    Our credit facilities include restrictive covenants relating
    to our operations, which could limit our ability to respond to
    changing market conditions and our ability to make distributions
    to our stockholders.
    We have and may continue to engage in hedging transactions,
    which can limit our gains and increase exposure to losses.
    
    Available interest rate hedging may not correspond directly with
    the interest rate risk for which we seek protection.
    The duration of the hedge may not match the duration of the
    related liability.
    The party owing money in the hedging transaction may default on
    its obligation to pay.
    The credit quality of the party owing money on the hedge may be
    downgraded to such an extent that it impairs our ability to sell
    or assign our side of the hedging transaction.
    The value of derivatives used for hedging may be adjusted from
    time to time in accordance with accounting rules to reflect
    changes in fair value. Downward adjustments, or
    mark-to-market losses, would reduce our
    stockholders equity.   18




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|
  Increases in interest rates could increase the amount of our
    debt payments and adversely affect our ability to pay
    distributions to our stockholders.
    If we fail to obtain external sources of capital, which is
    outside of our control, we may be unable to make distributions
    to our stockholders, maintain our REIT qualification, or fund
    growth.
    
    general market conditions,
    the markets perception of our growth potential,
    with respect to acquisition financing, the markets
    perception of the value of the properties to be acquired,
    our current debt levels,
    our current and expected future earnings,
    our cash flow and cash distributions, and
    the market price per share of our common stock or preferred
    stock.   19




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Risks
    Related to Our Organizational Structure
  Our charter and Maryland law contain provisions that may
    delay, defer or prevent a change of control transaction and may
    prevent stockholders from receiving a premium for their
    shares.
  Our charter and the articles supplementary with respect to
    our preferred stock contain 9.8% ownership limits that may
    delay, defer or prevent a change of control
    transaction.
  We could authorize and issue stock without stockholder
    approval that may delay, defer or prevent a change of control
    transaction.
  Certain provisions of Maryland law could inhibit changes
    in control that may delay, defer or prevent a change of control
    transaction.
  
    business combination provisions that, subject to
    limitations, prohibit certain business combinations between us
    and an interested stockholder for certain periods.
    An interested stockholder is generally any person
    who beneficially owns 10% or more of the voting power of our
    shares or an affiliate or associate of ours who, at any time
    within the two-year period prior to the date in question, was
    the beneficial owner of 10% or more of the voting power of our
    then outstanding voting stock. A person is not an interested
    stockholder under the statute if the board of directors approved
    in advance the transaction by which he otherwise would have
    become an interested stockholder. The business combinations are
    prohibited for five years after the most recent date on which
    the stockholder becomes an interested stockholder. After that
    period, the MGCL imposes special voting requirements on such
    combinations, and
    control share provisions that provide that
    control shares of our company acquired in a
    control share acquisition have no voting rights
    unless holders of two-thirds of our voting stock (excluding
    interested shares) consent. Control shares are
    shares that, when aggregated with other shares controlled by the
    stockholder, entitle the stockholder to exercise one of three
    increasing ranges of voting power in electing directors. A
    control share acquisition is the direct or indirect
    acquisition of ownership or control of control
    shares.   20




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Our board of directors may amend our investing and financing
    policies without stockholder approval, and, accordingly, our
    stockholders would have limited control over changes in our
    policies that could increase the risk we default under our debt
    obligations or that could harm our business, results of
    operations and share price.
    We may invest in properties with other entities, and our lack
    of sole decision-making authority or reliance on a
    co-venturers financial condition could make these joint
    venture investments risky.
    
    might become bankrupt or fail to fund their share of required
    capital contributions,
    may have economic or other business interests or goals that are
    inconsistent with our business interests or goals, and
    may be in a position to take actions contrary to our policies or
    objectives.  and/or
  
    we structure a joint venture or conduct business in a manner
    that is deemed to be a general partnership with a third party,
    in which case we could be liable for the acts of that third
    party,
    third-party managers incur debt or other liabilities on behalf
    of a joint venture which the joint venture is unable to pay, and
    the joint venture agreement provides for capital calls, in which
    case we could be liable to make contributions as set forth in
    any such joint venture agreement, or
    we agree to cross-default provisions or to cross-collateralize
    our properties with the properties in a joint venture, in which
    case we could face liability if there is a default relating to
    those properties in the joint venture or the obligations
    relating to those properties. 21




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Risks
    Related to Our REIT Status
  Our failure to qualify as a REIT under the Code would result
    in significant adverse tax consequences to us and would
    adversely affect our business and the value of our stock.
      
    we would not be allowed to deduct distributions to stockholders
    in computing our taxable income and would be subject to federal
    income tax at regular corporate rates,
    we could also be subject to the federal alternative minimum tax
    and possibly increased state and local taxes, and
    unless we are entitled to relief under applicable statutory
    provisions, we could not elect to be taxed as a REIT for four
    taxable years following the year in which we were disqualified.    To maintain our REIT status, we may be forced to borrow funds
    during unfavorable market conditions to make distributions to
    our stockholders.
   22




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
    differences in timing between the actual receipt of cash and
    inclusion of income for federal income tax purposes,
    the effect of non-deductible capital expenditures,
    the creation of reserves, or
    required debt or amortization payments.    To maintain our REIT status, we may be forced to forego
    otherwise attractive opportunities.
    Risks
    Related to the Ownership of Our Stock
  The market price and trading volume of our common stock may
    be volatile.
      
    actual or anticipated variations in our quarterly operating
    results or dividends,
    changes in our funds from operations or earnings estimates,
    publication of research reports about us or the real estate
    industry,
    increases in market interest rates that lead purchasers of our
    shares to demand a higher yield,
    changes in market valuations of similar companies,
    adverse market reaction to any additional debt we incur or
    acquisitions we make in the future,
    additions or departures of key management personnel,
    actions by institutional stockholders,
    speculation in the press or investment community,
    the realization of any of the other risk factors presented in
    this report, and
    general market and economic conditions.  An increase in market interest rates may have an adverse
    effect on the market price of our securities.
   23




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Broad market fluctuations could negatively impact the market
    price of our common stock or preferred stock.
    Our distributions to stockholders may decline at any time.
    
    cash available for distribution,
    operating results,
    our financial condition, especially in relation to our
    anticipated future capital needs,
    then current expansion plans,
    the distribution requirements for REITs under the Code, and
    other factors our board deems relevant.  The number of shares of our common stock available for future
    sale could adversely affect the market price of our common
    stock.
        
    sales of substantial amounts of shares of our common stock in
    the public market, or the perception that such sales might occur,
    the exchange of units for common stock,
    the exercise of any options granted to certain directors,
    executive officers and other employees under our incentive award
    plan,
    issuances of preferred stock with liquidation or distribution
    preferences, and
    other issuances of our common stock. 24




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Item 1B.
    Unresolved
    Staff Comments    Item 2.
    Properties  Existing
    Portfolio
      Consolidated Portfolio


Unconsolidated Partnership Portfolio


Total PortfolioPercent of








Percent of








Percent ofRentable


Rentable





Rentable


Rentable





Rentable


RentableSquare


Square





Square


Square





Square


SquareProperties


Feet


Feet Leased


Properties


Feet


Feet Leased


Properties


Feet


Feet LeasedStabilized properties


40



5,472,851



99.2
%


4



257,308



100.0
%


44



5,730,159



99.2
%Lease up properties(1)


10



896,564



59.5
%


1



n/a



n/a



11



896,564



59.5
%Total operating portfolio


50



6,369,415



93.6
%


5



257,308



100.0
%


55



6,626,723



93.8
%Repositioning and redevelopment properties


7



1,828,546



17.8
%










n/a



7



1,828,546



17.8
%Total current portfolio


57



8,197,961



76.7
%


5



257,308



100.0
%


62



8,455,269



77.4
%Construction in progress(2)


3



1,241,000



72.0
%


2



700,000



16.1
%


5



1,941,000



51.8
%Land parcels


n/a



1,293,000



n/a











n/a







1,293,000



n/aTotal Portfolio/Weighted-Average(3)


60



10,731,961



76.1
%


7



957,308



38.6
%


67



11,689,269



73.0
%     (1)
    
    The unconsolidated partnership portfolio property within the
    lease up property category is the 301 Binney garage, which is
    not yet fully leased pending completion of development
    activities at the 301 Binney Street building.(2)
    
    We are currently developing a portion of our Landmark at
    Eastview property. However, we have not separated this
    previously undeveloped portion into a separate property for
    legal and accounting purposes. Therefore, we still classify the
    Landmark at Eastview property as a stabilized property on the
    above schedule although it is also included in our discussion of
    development properties.(3)
    
    Percent of rentable square feet leased excludes undeveloped land
    parcels. 25




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Percent











Annualizedof








Percent of


Base RentNumber


Rentable


Rentable





Annualized


Annualized


per Leasedof


Square


Square


Percent


Base Rent


Base Rent


Square FootMarket

Properties


Feet


Feet


Leased(1)


Current(2)


Current


Current(In thousands)Boston


12



1,297,166



15.4
%


97.3
%

$
48,876



24.6
%

$
38.71Maryland


5



1,144,968



13.5
%


100.0
%


44,336



22.3
%


38.72San Francisco


11



2,655,594



31.4
%


44.9
%


25,658



12.9
%


21.50San Diego


15



945,318



11.2
%


84.3
%


23,458



11.8
%


26.97New York/New Jersey


3



873,369



10.3
%


87.1
%


15,753



7.9
%


20.71Pennsylvania


7



778,251



9.2
%


92.7
%


14,920



7.5
%


20.69Seattle


4



253,788



3.0
%


62.0
%


5,740



3.0
%


36.46University Related  Other


3



249,507



3.0
%


100.0
%


7,349



3.8
%


29.46Total Consolidated Portfolio/Weighted-Average


60



8,197,961



97.0
%


76.7
%


186,090



93.8
%


29.60Unconsolidated Partnership Portfolio(3)


7



257,308



3.0
%


100.0
%


12,283



6.2
%


47.74Total Portfolio/Weighted-Average


67



8,455,269



100.0
%


77.4
%

$
198,373



100.0
%

$
30.31     (1)
    
    Percentage of leasable square footage in current portfolio
    subject to an existing lease.(2)
    
    In this and other tables, annualized current base rent is the
    monthly contractual rent under existing leases at
    December 31, 2007, multiplied by 12 months. Includes
    contractual amounts to be received pursuant to master lease
    agreements with the sellers on certain properties, which are not
    included in rental income for U.S. generally accepted accounting
    principles, or GAAP.(3)
    
    Includes a portfolio of properties in Cambridge, Massachusetts
    and the McKellar Court property in San Diego, California.
    We are a member of the unconsolidated limited liability
    companies that own a portfolio of properties in Cambridge,
    Massachusetts, and we are entitled to approximately 20% of the
    operating cash flows. We also own the general partnership
    interest in the unconsolidated limited partnership that owns the
    McKellar Court property, which entitles us to 75% of the gains
    upon a sale of the property and 21% of the operating cash flows.    Rentable


PercentSquare Feet


LeasedBostonAlbany Street


75,003



100.0
%Center for Life
    Science | Boston(1)






Charles Street


47,912



100.0
%Coolidge Avenue


37,400



100.0
%21 Erie Street


48,627



100.0
%40 Erie Street


100,854



100.0
%47 Erie Street Parking Structure


447 Stalls



n/aFresh Pond Research Park


90,702



78.7
%675 West Kendall Street (Kendall A)


302,919



96.7
%500 Kendall Street (Kendall D)


349,325



98.5
%Sidney Street


191,904



100.0
%Vassar Street


52,520



100.0
% 26




---



##### Table of Contents



Rentable


PercentSquare Feet


LeasedMarylandBeckley Street


77,225



100.0
%9911 Belward Campus Drive


289,912



100.0
%9920 Belward Campus Drive


51,181



100.0
%Shady Grove Road(2)


635,058



100.0
%Tributary Street


91,592



100.0
%San FranciscoArdentech Court(3)


55,588



100.0
%Ardenwood Venture(4)


72,500



0.0
%Bayshore Boulevard


183,344



100.0
%Bridgeview Technology Park I


212,673



93.1
%Bridgeview Technology Park II


50,400



100.0
%Dumbarton Circle


44,000



100.0
%Eccles Avenue


152,145



100.0
%Forbes Boulevard


237,984



100.0
%Industrial Road


169,490



100.0
%Kaiser Drive


87,953



0.0
%Pacific Research Center(3)


1,389,517



7.4
%San DiegoBalboa Avenue


35,344



100.0
%Bernardo Center Drive(5)


61,286



100.0
%Faraday Avenue


28,704



100.0
%John Hopkins Court(3)


69,946



0.0
%6114-6154
    Nancy Ridge Drive


112,000



100.0
%6828 Nancy Ridge Drive


42,138



100.0
%Pacific Center Boulevard


66,745



100.0
%Road to the Cure


67,998



43.3
%San Diego Science Center


105,364



73.9
%Science Center Drive


53,740



100.0
%Sorrento Valley Boulevard


54,924



86.3
%Torreyana Road


81,204



100.0
%9865 Towne Centre Drive(1)






9885 Towne Centre Drive


115,870



100.0
%Waples Street(6)


50,055



90.0
%New York/New JerseyGraphics Drive


72,300



44.3
%Landmark at Eastview(2)


751,648



97.0
%One Research Way(3)


49,421



0.0
%PennsylvaniaEisenhower Road


27,750



0.0
%George Patterson Boulevard


71,500



100.0
%King of Prussia


427,109



100.0
%Phoenixville Pike


104,400



74.2
%Spring Mill Drive


76,378



96.9
%900 Uniqema Boulevard(7)


11,293



100.0
%1000 Uniqema Boulevard(7)


59,821



100.0
% 27




---



##### Table of Contents



Rentable


PercentSquare Feet


LeasedSeattleElliott Avenue(5)


134,989



47.3
%Fairview Avenue(1)(8)






Monte Villa Parkway


51,000



100.0
%217th Place(5)


67,799



62.9
%University Related  OtherLucent Drive(9)


21,500



100.0
%Trade Centre Avenue(10)


78,023



100.0
%Walnut Street(11)


149,984



100.0
%Total Consolidated Portfolio/Weighted-Average


8,197,961



76.7
%Unconsolidated Portfolio:McKellar Court(12)


72,863



100.0
%320 Bent Street(13)


184,445



100.0
%301 Binney Street(1)(13)






301 Binney Garage(13)


503 Stalls



n/a650 E. Kendall Street (Kendall B)(1)(13)






350 E. Kendall Street Garage (Kendall F)(13)


1,409 Stalls



n/aKendall Crossing Apartments(13)


37 Apts.



n/aTotal Portfolio/Weighted-Average


8,455,269



77.4
%     (1)
    
    The entire property was under development at December 31,
    2007.(2)
    
    A previously undeveloped portion of the property was undergoing
    development at December 31, 2007.(3)
    
    The entire property was undergoing redevelopment at
    December 31, 2007.(4)
    
    We own an 87.5% membership interest in the limited liability
    company that owns this property.(5)
    
    A portion of the property was undergoing redevelopment at
    December 31, 2007.(6)
    
    We own 70% of the limited liability company that owns the Waples
    Street property, which entitles us to 90% of the cash flow from
    operations up to a 9.5% cumulative annual return, and then 75%
    of such distributions thereafter.(7)
    
    Located in New Castle, Delaware.(8)
    
    We own a 70% membership interest in the limited liability
    company that owns this property.(9)
    
    Located in Lebanon, New Hampshire.(10)
    
    Located in Longmont, Colorado.(11)
    
    Located in Boulder, Colorado.(12)
    
    We own the general partnership interest in the limited
    partnership that owns the McKellar Court property, which
    entitles us to 75% of the gains upon a sale of the property and
    21% of the operating cash flows. The property is located in
    San Diego, California.(13)
    
    We are a member of the limited liability companies that own a
    portfolio of properties in Cambridge, Massachusetts, which
    entitles us to approximately 20% of the operating cash flows.  Tenant
    Information
   28




---



##### Table of Contents



Annualized


Percent ofBase Rent


AnnualizedAnnualized


per Leased


Base Rent -


LeaseLeased


Base Rent


Square Foot


Current


ExpirationTenant

Square Feet


Current


Current


Total Portfolio


Date(s)(In thousands)Human Genome Sciences, Inc.


924,970


$
40,290


$
43.56



20.3
%

May 2026Vertex Pharmaceuticals


685,286



25,948



37.86



13.1
%

Multiple(1)Genzyme Corporation


343,000



15,457



45.06



7.8
%

July 2018Centocor, Inc. (Johnson & Johnson)


374,387



8,387



22.40



4.2
%

March 2014Schering Corporation(2)


136,067



7,609



55.92



3.8
%

August 2016Array BioPharma, Inc.


228,007



6,801



29.83



3.4
%

Multiple(3)Nektar Therapeutics


100,040



4,533



45.32



2.3
%

October 2016Arena Pharmaceuticals, Inc.


112,000



4,513



40.30



2.3
%

May 2027Regeneron Pharmaceuticals, Inc.


230,911



4,355



18.86



2.2
%

Multiple(4)Illumina, Inc.


109,270



4,178



38.24



2.1
%

October 2023Total/Weighted-Average(5)


3,243,938


$
122,071


$
37.63



61.5
%     (1)
    
    191,904 square feet expires August 2010,
    100,854 square feet expires December 2010,
    20,608 square feet expires May 2012, 81,204 square
    feet expires September 2013, and 290,716 square feet
    expires April 2018.(2)
    
    We own 20% of the limited liability company that owns the
    property that this tenant occupies.(3)
    
    149,984 square feet expires July 2016 and
    78,023 square feet expires August 2016.(4)
    
    203,890 square feet expires March 2009, which will be
    replaced with a
    15-year
    230,000 square foot lease at the new buildings to be
    constructed at the Landmark at Eastview property, and
    27,021 square feet expires March 2024.(5)
    
    Without regard to any lease terminations and/or renewal options.  Lease
    Distribution
  triple-net. Triple-net
  Item 3.
    Legal
    Proceedings    Item 4.
    Submission
    of Matters to a Vote of Security Holders   29




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##### Table of Contents



PART II  Item 5.
    Market
    for Registrants Common Equity, Related Stockholder Matters
    and Issuer Purchases of Equity Securities    Cash DividendPeriod

High


Low


Last


per Common ShareFirst Quarter 2006

$
29.86


$
23.75


$
29.64


$
0.29Second Quarter 2006

$
29.94


$
25.95


$
29.94


$
0.29Third Quarter 2006

$
31.99


$
28.28


$
30.34


$
0.29Fourth Quarter 2006

$
32.41


$
27.71


$
28.60


$
0.29First Quarter 2007

$
31.20


$
25.59


$
26.30


$
0.31Second Quarter 2007

$
29.94


$
24.13


$
25.12


$
0.31Third Quarter 2007

$
26.20


$
21.00


$
24.10


$
0.31Fourth Quarter 2007

$
26.25


$
20.89


$
23.17


$
0.31         Form 10-K.
  Item 6.
    Selected
    Financial Data   30




---



##### Table of Contents



BIOMED
    REALTY TRUST, INC. AND BIOMED REALTY TRUST, INC. PREDECESSOR
    (Dollars in thousands, except per share data)
  BioMed Realty Trust, Inc.


PredecessorPeriod


PeriodAugust 11,


January 1,2004 through


2004 throughYear Ended December 31,


December 31,


August 17,2007


2006


2005


2004


2004


2003Statements of Income:Revenues:Total revenues

$
266,109


$
218,735


$
138,784


$
28,654


$
3,714


$
7,019Expenses:Rental operations and real estate taxes


71,142



60,999



46,358



11,619



353



830Depreciation and amortization


72,202



65,063



39,378



7,853



600



955General and administrative


21,870



18,085



13,278



3,130







Total expenses


165,214



144,147



99,014



22,602



953



1,785Income from operations


100,895



74,588



39,770



6,052



2,761



5,234Equity in net (loss)/income of unconsolidated partnerships


(893
)


83



119



(11
)






Interest income


990



1,102



1,333



190







1Interest expense


(27,654
)


(40,672
)


(23,226
)


(1,180
)


(1,760
)


(2,901
)Income from continuing operations before minority interests


73,338



35,101



17,996



5,051



1,001



2,334Minority interests in continuing operations of consolidated
    partnerships


(45
)


137



267



145







Minority interests in continuing operations of operating
    partnership


(2,412
)


(1,670
)


(1,271
)


(414
)






Income from continuing operations


70,881



33,568



16,992



4,782



1,001



2,334Income from discontinued operations before gain on sale of
    assets and minority interests


639



1,542



57











Gain on sale of real estate assets


1,087



















Minority interests attributable to discontinued operations


(74
)


(77
)


(3
)










Income from discontinued operations


1,652



1,465



54











Net income


72,533



35,033



17,046



4,782



1,001



2,334Preferred stock dividends


(16,868
)


















Net income available to common stockholders

$
55,665


$
35,033


$
17,046


$
4,782


$
1,001


$
2,334Income from continuing operations per share available to common
    stockholders:Basic earnings per share

$
0.83


$
0.60


$
0.44


$
0.15







Diluted earnings per share

$
0.83


$
0.60


$
0.43


$
0.15







Net income per share available to common stockholders:Basic earnings per share

$
0.85


$
0.63


$
0.44


$
0.15







Diluted earnings per share

$
0.85


$
0.62


$
0.44


$
0.15







Weighted-average common shares outstanding:Basic


65,302,794



55,928,595



38,913,103



30,965,178







Diluted


68,269,985



59,018,004



42,091,195



33,767,575







Cash dividends declared per common share

$
1.24


$
1.16


$
1.08


$
0.4197







Cash dividends declared per preferred share

$
1.83



















Balance Sheet Data (at period end):Investments in real estate, net

$
2,805,983


$
2,457,538


$
1,129,371


$
468,530






$
47,025Total assets


3,057,268



2,692,642



1,337,310



581,723







50,056Total indebtedness


1,500,787



1,343,356



513,233



102,236







37,208Total liabilities


1,653,052



1,458,610



586,162



137,639







37,597Minority interests


17,280



19,319



20,673



22,267







Stockholders equity and partners capital


1,386,936



1,214,713



730,475



421,817







12,459Other Data:Cash flows from/(used in):(1)Operating activities


114,843



101,535



54,762



14,497







2,416Investing activities


(409,300
)


(1,339,463
)


(601,805
)


(457,218
)






(105
)Financing activities


282,273



1,243,280



539,486



470,433







(2,666
)     (1)
    
    Cash flow information for 2004 is combined for BioMed Realty
    Trust, Inc. and our predecessor. 31




---



##### Table of Contents



Item 7.
    Managements
    Discussion and Analysis of Financial Condition and Results of
    Operations  The following discussion should be read in conjunction with
    the financial statements and notes thereto appearing elsewhere
    in this report. We make statements in this section that are
    forward-looking statements within the meaning of the federal
    securities laws. For a complete discussion of forward-looking
    statements, see the section above entitled Item 1.
    Business  Forward-Looking Statements. Certain
    risk factors may cause our actual results, performance or
    achievements to differ materially from those expressed or
    implied by the following discussion. For a discussion of such
    risk factors, see the section above entitled Item 1A.
    Risk Factors.
  Overview
        Factors
    Which May Influence Future Operations
    Redevelopment/Development
    Properties
   32




---



##### Table of Contents



Total Property


Percent


EstimatedRentable


Leased or


In-ServiceProperty

Square Feet


Pre-Leased


Date(1)Ardentech Court


55,588



100.0
%


Q1 2008Bernardo Center Drive(2)


61,286



100.0
%


Q1 2008Elliott Avenue(3)


134,989



47.3
%


Q4 2009John Hopkins Court


69,946



0.0
%


Q3 2008One Research Way


49,421



0.0
%


Q2 2008Pacific Research Center


1,389,517



7.4
%


Q2 2009217th Place


67,799



62.9
%


Q3 2008Total/Weighted-Average


1,828,546



17.8
%     (1)
    
    Our estimate of the time in which redevelopment will be
    substantially complete. A project is considered substantially
    complete and held available for its intended use upon the
    completion of tenant improvements, but no later than one year
    from the cessation of major construction activities. We
    currently estimate that we will invest up to an additional
    $185.0 million before the redevelopment on these properties
    is substantially complete.(2)
    
    Includes 51,980 square feet leased to our Operating
    Partnership for use as our corporate headquarters. No revenue
    will be recognized with respect to this related party lease.(3)
    
    We anticipate that the property will be vacant upon the
    expiration of the remaining lease in the first quarter of 2008.    Estimated








Estimated


EstimatedRentable


Percent


Investment


Total


In-ServiceProperty

Square Feet


Pre-Leased


to Date


Investment


Date(1)(Dollars in thousands)Center for Life
    Science | Boston


703,000



81.1
%

$
664,000


$
730,000



Q1 2009Fairview Avenue(2)


94,000



17.9
%


20,700



44,000



Q1 2009Landmark at Eastview(3)


360,000



63.8
%


42,000



145,000



Q2 20099865 Towne Centre Drive


84,000



100.0
%


13,800



30,000



Q3 2008Total/Weighted-Average


1,241,000



72.0
%

$
740,500


$
949,000     (1)
    
    Our estimate of the time in which development will be
    substantially complete. A project is considered substantially
    complete and held available for its intended use upon the
    completion of tenant improvements, but no later than one year
    from the cessation of major construction activities.(2)
    
    We own a 70% membership interest in the limited liability
    company that owns this property.(3)
    
    We are currently developing a portion of our Landmark at
    Eastview property. However, we have not separated this
    previously undeveloped portion into a separate property for
    legal and accounting purposes. Therefore, we still classify the
    Landmark at Eastview property as a stabilized property although
    it is also included in our discussion of development properties. 33




---



##### Table of Contents



Lease
    Expirations
    Rentable


Percent of








AnnualizedSquare


Total Rentable





Percent of


Base RentFeet of


Square Feet of


Annualized


Annualized


per LeasedExpiring


Expiring


Base Rent


Base Rent


Square FootYear of Lease Expiration

Leases


Leases


Current


Current


Current(In thousands)2008(1)


358,248



5.6
%

$
8,195



4.2
%

$
22.872009


366,332



5.6
%


6,987



3.5
%


19.072010


753,846



11.5
%


16,979



8.6
%


22.522011


360,856



5.5
%


12,519



6.3
%


34.692012


407,964



6.2
%


9,116



4.6
%


22.342013


507,067



7.7
%


9,930



5.0
%


19.582014


562,771



8.6
%


12,211



6.2
%


21.702015


84,157



1.3
%


2,671



1.3
%


31.732016


603,067



9.2
%


22,295



11.2
%


36.972017


147,266



2.3
%


2,424



1.2
%


16.46Thereafter


2,392,453



36.5
%


95,047



47.9
%


39.73Total Portfolio/Weighted-Average


6,544,027



100.0
%

$
198,374



100.0
%

$
30.31     (1)
    
    Includes current month-to-month leases.    Critical
    Accounting Policies
   34




---



##### Table of Contents



Investments
    in Real Estate
    Buildings and improvements

15-40 yearsGround lease

Term of the related leaseTenant improvements

Shorter of the useful lives or the terms of the related leasesFurniture, fixtures, and equipment

3 to 5 yearsAcquired in-place leases

Non-cancelable term of the related leaseAcquired management agreements

Non-cancelable term of the related agreement     lease-up lease-up
  lease-up lease-up
     35




---



##### Table of Contents



Revenue
    Recognition
    
    whether the lease stipulates how and on what a tenant
    improvement allowance may be spent;
    whether the tenant or landlord retain legal title to the
    improvements;
    the uniqueness of the improvements;
    the expected economic life of the tenant improvements relative
    to the length of the lease;
    the responsible party for construction cost overruns; and
    who constructs or directs the construction of the improvements.     36




---



##### Table of Contents



No. 99-19, Reporting Revenue Gross as a Principal versus Net as an Agent (EITF 99-19). EITF 99-19
      EITF 85-27, Recognition of Receipts from
    Made-Up
    Rental Shortfalls.
  Investments
    in Partnerships
  Consolidation of Variable Interest Entities Consolidated Financial
    Statements
  No. 04-5, Determining Whether a General Partner, or the General
    Partners as a Group, Controls a Limited Partnership or Similar
    Entity When the Limited Partners Have Certain Rights (EITF 04-5), EITF 04-5 states EITF 04-5
 37




---



##### Table of Contents



EITF 04-5,
    Derivative
    Instruments
       38




---



##### Table of Contents



Results
    of Operations
    Comparison
    of the Year Ended December 31, 2007 to the Year Ended
    December 31, 2006
    Redevelopment/DevelopmentSame Properties


Properties


New Properties2007


2006


2007


2006


2007


2006Rental

$
109,485


$
107,367


$
16,957


$
21,944


$
69,554


$
35,176Tenant recoveries


48,992



46,798



6,837



5,317



5,906



2,045Other income


1,194



84



7,184



4







Total revenues

$
159,671


$
154,249


$
30,978


$
27,265


$
75,460


$
37,221Rental operations

$
42,457


$
37,356


$
5,236


$
2,596


$
3,096


$
671Real estate taxes


13,417



15,288



2,896



3,494



4,040



1,594Depreciation and amortization


43,465



44,233



10,446



11,929



18,291



8,901Total expenses

$
99,339


$
96,877


$
18,578


$
18,019


$
25,427


$
11,166   Rental Revenues.
  Tenant Recoveries.
  Other Income.
  Rental Operations Expense.
 39




---



##### Table of Contents



Real Estate Tax Expense.
  Depreciation and Amortization
    Expense.
  General and Administrative Expenses.
  Equity in Net (Loss)/Income of Unconsolidated
    Partnerships.
  Interest Expense. |
  Minority Interests.
  Discontinued Operations.
 40




---



##### Table of Contents



Comparison
    of the Year Ended December 31, 2006 to the Year Ended
    December 31, 2005
    Redevelopment/DevelopmentSame Properties


Properties


New Properties2006


2005


2006


2005


2006


2005Rental

$
58,087


$
58,092


$
7,959


$
33


$
98,441


$
34,465Tenant recoveries


29,448



31,963



2,358



4



22,354



10,253Other income


23



3,712











65



262Total revenues

$
87,558


$
93,767


$
10,317


$
37


$
120,860


$
44,980Rental operations

$
27,973


$
29,410


$
615


$
5


$
12,035


$
5,081Real estate taxes


6,970



6,520



1,970







11,436



5,342Depreciation and amortization


26,198



25,132



3,740







35,125



14,246Total expenses

$
61,141


$
61,062


$
6,325


$
5


$
58,596


$
24,669   Rental Revenues.
  Tenant Recoveries.
  Other Income.
  Rental Operations Expense.
  Real Estate Tax Expense.
  Depreciation and Amortization
    Expense.
 41




---



##### Table of Contents



General and Administrative Expenses.
  Equity in Net (Loss)/Income of Unconsolidated
    Partnerships.
  Interest Expense. |
  Minority Interests.
  Discontinued Operations.
  Cash
    Flows
    Year Ended December 31,2007


2006


2005Net cash provided by operating activities

$
114,843


$
101,535


$
54,762Net cash used in investing activities


(409,300
)


(1,339,463
)


(601,805
)Net cash provided by financing activities


282,273



1,243,280



539,486Ending cash and cash equivalents balance


13,479



25,664



20,312   Comparison
    of the Year Ended December 31, 2007 to the Year Ended
    December 31, 2006
   42




---



##### Table of Contents



Comparison
    of the Year Ended December 31, 2006 to the Year Ended
    December 31, 2005
        Liquidity
    and Capital Resources
         43




---



##### Table of Contents



AggregatePrincipalShares/Units


Amount orat December 31,


Dollar Value


Percent of Total2007


Equivalent


Capitalization(In thousands)Debt:Mortgage notes payable(1)





$
379,680



11.4
%Secured construction loan






425,160



12.8
%Secured term loan






250,000



7.5
%Exchangeable notes






175,000



5.3
%Unsecured line of credit






270,947



8.1
%Total debt






1,500,787



45.1
%Equity:Common shares outstanding(2)


65,571,304



1,519,287



45.7
%7.375% Series A Preferred shares outstanding(3)


9,200,000



230,000



6.9
%Operating partnership units outstanding(4)


2,863,564



66,349



2.0
%LTIP units outstanding(4)


454,716



10,536



0.3
%Total equity






1,826,172



54.9
%Total capitalization





$
3,326,959



100.0
%     (1)
    
    Amount includes debt premiums of $10.9 million recorded
    upon the assumption of the outstanding indebtedness in
    connection with our purchase of the corresponding properties.(2)
    
    Based on the market closing price of our common stock of $23.17
    per share on the last trading day of the year (December 31,
    2007).(3)
    
    Based on the liquidation preference of $25.00 per share for our
    7.375% Series A preferred stock.(4)
    
    Our partnership and LTIP units are each individually convertible
    into one share of common stock at the market closing price of
    our common stock of $23.17 per share on the last trading day of
    the year (December 31, 2007).     44




---



##### Table of Contents



45




---



##### Table of Contents



Effective


Principal BalanceStated Fixed


Interest


December 31,Interest Rate


Rate


2007


2006


Maturity DateArdentech Court


7.25
%


5.06
%

$
4,564


$
4,658


July 1, 2012Bayshore Boulevard


4.55
%


4.55
%


15,335



15,730


January 1, 2010Bridgeview Technology Park I


8.07
%


5.04
%


11,508



11,625


January 1, 2011Eisenhower Road


5.80
%


4.63
%


2,113



2,164


May 5, 2008Elliott Avenue


7.38
%


4.63
%






16,020


November 24, 200740 Erie Street


7.34
%


4.90
%


17,625



18,676


August 1, 2008500 Kendall Street (Kendall D)


6.38
%


5.45
%


69,437



70,963


December 1, 2018Lucent Drive


5.50
%


5.50
%


5,543



5,733


January 21, 2015Monte Villa Parkway


4.55
%


4.55
%


9,336



9,576


January 1, 20106828 Nancy Ridge Drive


7.15
%


5.38
%


6,785



6,872


September 1, 2012Road to the Cure


6.70
%


5.78
%


15,427



15,657


January 31, 2014Science Center Drive


7.65
%


5.04
%


11,301



11,444


July 1, 2011Shady Grove Road


5.97
%


5.97
%


147,000



147,000


September 1, 2016Sidney Street


7.23
%


5.11
%


29,986



30,732


June 1, 20129885 Towne Centre Drive


4.55
%


4.55
%


21,323



21,872


January 1, 2010900 Uniqema Boulevard


8.61
%


5.61
%


1,509



1,648


May 1, 2015368,792



390,370Unamortized premiums










10,888



13,466$
379,680


$
403,836       2008

$
24,4542009


430,1862010


47,4462011


297,1672012


291,421Thereafter


399,225$
1,489,899   |
 46




---



##### Table of Contents



47




---



##### Table of Contents



Obligation

2008


2009-2010


2011-2012


Thereafter


Total(In thousands)Mortgage notes payable(1)

$
24,454


$
52,472


$
67,641


$
224,225


$
368,792Secured term loan










250,000







250,000Secured construction loan(2)






425,160











425,160Exchangeable senior notes














175,000



175,000Unsecured line of credit(3)










270,947







270,947Share of debt of unconsolidated partnerships(4)


83,314



2,174











85,488Interest payments on debt obligations(5)


97,037



151,402



87,833



161,463



497,735Construction projects


77,166















77,166Tenant obligations(6)


84,257



31,248



866







116,371Lease commissions


6,792



962











7,754Total

$
373,020


$
663,418


$
677,287


$
560,688


$
2,274,413     (1)
    
    Balance excludes $10.9 million of unamortized debt premium.(2)
    
    The secured construction loan matures on November 16, 2009,
    but we may extend the maturity date to November 16, 2010
    after satisfying certain conditions and paying an additional fee.(3)
    
    The unsecured line of credit matures on August 1, 2011, but
    we may extend the maturity date of the unsecured line of credit
    to August 1, 2012 after satisfying certain conditions and
    paying an extension fee based on the then current facility
    commitment.(4)
    
    The maturity date of the secured acquisition and interim loan
    held by the PREI limited liability companies was extended by one
    year to April 3, 2009 in February 2008.(5)
    
    Interest payments reflect cash payments that are based on the
    interest rates in effect and debt balances outstanding on
    December 31, 2007, excluding the effect of the interest
    rate swaps on the underlying debt.(6)
    
    Committed tenant-related obligations based on executed leases as
    of December 31, 2007.  Funds
    from Operations
   48




---



##### Table of Contents



Year Ended December 31,2007


2006Net income available to common stockholders

$
55,665


$
35,033Adjustments:Minority interests in operating partnership


2,486



1,747Gain on sale of real estate assets


(1,087
)


Depreciation and amortization  unconsolidated
    partnerships


1,139



80Depreciation and amortization  consolidated
    entities-discontinued operations


228



550Depreciation and amortization  consolidated
    entities-continuing operations


72,202



65,060Depreciation and amortization  allocable to minority
    interest of consolidated joint ventures


(285
)


Funds from operations available to common shares and partnership
    and LTIP units

$
130,348


$
102,470Funds from operations per share  diluted

$
1.91


$
1.74Weighted-average common shares outstanding  diluted


68,269,985



59,018,004   Off
    Balance Sheet Arrangements
      EITF 04-5
 49




---



##### Table of Contents



Principal Amount(1)Ownership


Interest


December 31,


December 31,Name

Percentage


Rate(2)


2007


2006


Maturity DatePREI I LLC and PREI II LLC(3)


20
%


6.04


$
83,285


$



April 3, 2008McKellar Court partnership(4)


21
%


4.63
%


2,203



2,230


January 1, 2010Total









$
85,488


$
2,230     (1)
    
    Amount represents our proportionate share of the total
    outstanding indebtedness for each of the unconsolidated
    partnerships.(2)
    
    Effective or weighted-average interest rate of the outstanding
    indebtedness as of December 31, 2007.(3)
    
    Amount represents our proportionate share of the total draws
    outstanding under a secured acquisition and interim loan
    facility, which bears interest at a LIBOR-indexed variable rate.
    The secured acquisition and interim loan facility was utilized
    by both PREI I LLC and PREI II LLC to acquire a portfolio of
    properties (initial borrowings of approximately
    $427.0 million) on April 4, 2007 (see Note 10 in
    the accompanying consolidated financial statements). The
    remaining balance will be utilized to fund future construction
    costs at certain properties currently under development. On
    February 19, 2008, the maturity date was extended to
    April 3, 2009.(4)
    
    Amount represents our proportionate share of the principal
    balance outstanding on a mortgage note payable, which is secured
    by the McKellar Court property (excluding $186,000 of
    unamortized debt premium).    Inflation
      Item 7A.
    Quantitative
    and Qualitative Disclosures About Market Risk   50




---



##### Table of Contents



EffectiveInterestPercent of


Rate atPrincipal Balance


Total Debt


12/31/07Fixed interest rate(1)

$
554,680



37.0
%


5.16
%Variable interest rate(2)


946,107



63.0
%


5.92
%Total/weighted-average effective interest rate

$
1,500,787



100.0
%


5.64
%     (1)
    
    Includes 15 mortgage notes payable secured by certain of our
    properties (including $10.9 million of unamortized premium)
    and our exchangeable senior notes.(2)
    
    Includes our unsecured line of credit, secured term loan, and
    secured construction loan, which bear interest based on a
    LIBOR-indexed variable interest rate, plus a credit spread.
    However, we have entered into four interest rate swaps, which
    were intended to have the effect of initially fixing the
    interest rates on $205.0 million of our unsecured line of
    credit and $330.0 million of our secured construction loan
    at 5.9% and 6.1%, respectively. We have entered into an interest
    rate swap agreement that effectively fixes the interest rate on
    the entire $250.0 million outstanding balance of the
    secured term loan at a rate of 5.8% until the interest rate swap
    expires in 2010. We have also entered into four forward starting
    swap agreements, which will have the effect of fixing the
    interest rate on $450.0 million of forecasted debt issuance
    (after retirement of the secured construction loan) at
    approximately 5.2%.       51




---



##### 



Item 8.
    Financial
    Statements and Supplementary Data  INDEX TO
    CONSOLIDATED FINANCIAL STATEMENTS
   
 PageReport of Independent Registered Public
    Accounting Firm


53Consolidated Balance Sheets as of
    December 31, 2007 and 2006


55Consolidated Statements of Income for the years
    ended December 31, 2007, 2006, and 2005


56Consolidated Statements of Stockholders
    Equity for the years ended December 31, 2007, 2006, and
    2005


57Consolidated Statements of Comprehensive Income
    for the years ended December 31, 2007, 2006, and 2005


58Consolidated Statements of Cash Flows for the
    years ended December 31, 2007, 2006, and 2005


59Notes to Consolidated Financial Statements


61Financial Statement 
    Schedule III


89   52




---



##### Table of Contents



REPORT OF
    INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM            53




---



##### Table of Contents



54




---



##### Table of Contents



BIOMED
    REALTY TRUST, INC.



CONSOLIDATED
    BALANCE SHEETS

(In
    thousands, except share data)  December 31,2007


2006ASSETSInvestments in real estate, net

$
2,805,983


$
2,457,538Investment in unconsolidated partnerships


22,588



2,436Cash and cash equivalents


13,479



25,664Restricted cash


8,867



6,426Accounts receivable, net


4,457



5,985Accrued straight-line rents, net


36,415



20,446Acquired above-market leases, net


5,745



7,551Deferred leasing costs, net


116,491



129,322Deferred loan costs, net


15,567



17,608Other assets


27,676



19,666Total assets

$
3,057,268


$
2,692,642LIABILITIES AND STOCKHOLDERS EQUITYMortgage notes payable, net

$
379,680


$
403,836Secured construction loan


425,160



286,355Secured term loan


250,000



250,000Exchangeable senior notes


175,000



175,000Unsecured line of credit


270,947



228,165Security deposits


7,090



7,704Dividends and distributions payable


25,596



19,847Accounts payable, accrued expenses and other liabilities


95,871



62,602Acquired below-market leases, net


23,708



25,101Total liabilities


1,653,052



1,458,610Minority interests


17,280



19,319Stockholders equity:Preferred stock, $.01 par value, 15,000,000 shares
    authorized: 7.375% Series A cumulative redeemable preferred
    stock, $230,000,000 liquidation preference ($25.00 per share),
    9,200,000 shares issued and outstanding at
    December 31, 2007


222,413



Common stock, $.01 par value, 100,000,000 shares
    authorized, 65,571,304 and 65,425,598 shares issued and
    outstanding at December 31, 2007 and 2006, respectively


656



654Additional paid-in capital


1,277,770



1,272,243Accumulated other comprehensive (loss)/income


(21,762
)


8,417Dividends in excess of earnings


(92,141
)


(66,601
)Total stockholders equity


1,386,936



1,214,713Total liabilities and stockholders equity

$
3,057,268


$
2,692,642    55




---



##### Table of Contents



BIOMED
    REALTY TRUST, INC.



CONSOLIDATED
    STATEMENTS OF INCOME

(In
    thousands, except share data)  Year Ended December 31,2007


2006


2005Revenues:Rental

$
195,996


$
164,487


$
92,590Tenant recoveries


61,735



54,160



42,220Other income


8,378



88



3,974Total revenues


266,109



218,735



138,784Expenses:Rental operations


50,789



40,623



34,496Real estate taxes


20,353



20,376



11,862Depreciation and amortization


72,202



65,063



39,378General and administrative


21,870



18,085



13,278Total expenses


165,214



144,147



99,014Income from operations


100,895



74,588



39,770Equity in net (loss)/income of unconsolidated partnerships


(893
)


83



119Interest income


990



1,102



1,333Interest expense


(27,654
)


(40,672
)


(23,226
)Income from continuing operations before minority interests


73,338



35,101



17,996Minority interests in continuing operations of consolidated
    partnerships


(45
)


137



267Minority interests in continuing operations of operating
    partnership


(2,412
)


(1,670
)


(1,271
)Income from continuing operations


70,881



33,568



16,992Income from discontinued operations before gain on sale of
    assets and minority interests


639



1,542



57Gain on sale of real estate assets


1,087







Minority interests attributable to discontinued operations


(74
)


(77
)


(3
)Income from discontinued operations


1,652



1,465



54Net income


72,533



35,033



17,046Preferred stock dividends


(16,868
)






Net income available to common stockholders

$
55,665


$
35,033


$
17,046Income from continuing operations per share available to common
    stockholders:Basic earnings per share

$
0.83


$
0.60


$
0.44Diluted earnings per share

$
0.83


$
0.60


$
0.43Income from discontinued operations per share:Basic earnings per share

$
0.02


$
0.03


$
Diluted earnings per share

$
0.02


$
0.02


$
0.01Net income per share available to common stockholders:Basic earnings per share

$
0.85


$
0.63


$
0.44Diluted earnings per share

$
0.85


$
0.62


$
0.44Weighted-average common shares outstanding:Basic


65,302,794



55,928,595



38,913,103Diluted


68,269,985



59,018,004



42,091,195    56




---



##### Table of Contents



BIOMED
    REALTY TRUST, INC.



CONSOLIDATED
    STATEMENTS OF STOCKHOLDERS EQUITY

(In
    thousands, except share data)  AccumulatedSeries A








Additional


Other


Dividends inPreferred


Common Stock


Paid-In


Comprehensive


Excess ofStock


Shares


Amount


Capital


(Loss)/Income


Earnings


TotalBalance at December 31, 2004

$




31,386,333


$
314


$
429,893


$



$
(8,390
)

$
421,817Net proceeds from sale of common stock






15,122,500



151



323,869











324,020Net issuances of unvested restricted common stock






125,599



1



(1
)










Vesting of share-based awards














3,830











3,830Common stock dividends






















(42,160
)


(42,160
)Net income






















17,046



17,046Unrealized gain on cash flow hedge


















5,922







5,922Balance at December 31, 2005






46,634,432



466



757,591



5,922



(33,504
)


730,475Net proceeds from sale of common stock






18,428,750



184



506,587











506,771Net proceeds from exercise of warrant






270,000



3



4,047











4,050Net issuances of unvested restricted common stock






92,416



1



(1
)










Vesting of share-based awards














4,019











4,019Common stock dividends






















(68,130
)


(68,130
)Net income






















35,033



35,033Unrealized gain on cash flow hedges


















2,495







2,495Balance at December 31, 2006






65,425,598



654



1,272,243



8,417



(66,601
)


1,214,713Net proceeds from sale of preferred stock


222,413























222,413Net issuances of unvested restricted common stock






145,706



2



(2
)










Vesting of share-based awards














5,529











5,529Common stock dividends






















(81,205
)


(81,205
)Net income






















72,533



72,533Preferred stock dividends






















(16,868
)


(16,868
)Unrealized loss on cash flow hedges


















(30,179
)






(30,179
)Balance at December 31, 2007

$
222,413



65,571,304


$
656


$
1,277,770


$
(21,762
)

$
(92,141
)

$
1,386,936    57




---



##### Table of Contents



BIOMED
    REALTY TRUST, INC.



CONSOLIDATED
    STATEMENTS OF COMPREHENSIVE INCOME

(In
    thousands)  Year Ended December 31,2007


2006


2005Net income

$
72,533


$
35,033


$
17,046Preferred stock dividends


(16,868
)






Net income available to common stockholders


55,665


$
35,033



17,046Other comprehensive income:Unrealized (loss)/gain on cash flow hedges


(30,179
)


2,495



5,922Comprehensive income

$
25,486


$
37,528


$
22,968    58




---



##### Table of Contents



BIOMED
    REALTY TRUST, INC.



CONSOLIDATED
    STATEMENTS OF CASH FLOWS

(In
    thousands)  Year Ended December 31,2007


2006


2005Operating activities:Net income

$
72,533


$
35,033


$
17,046Adjustments to reconcile net income to net cash provided by
    operating activities:Gain on sale of real estate assets


(1,087
)






Depreciation and amortization


72,429



65,610



39,378Minority interests in consolidated partnerships


45



(137
)


(267
)Minority interests in operating partnership


2,486



1,747



1,274Allowance for doubtful accounts


232



193



257Revenue reduction attributable to acquired above-market leases


2,451



2,471



1,524Revenue recognized related to acquired below-market leases


(5,859
)


(4,811
)


(3,332
)Compensation expense related to restricted common stock and LTIP
    units


6,229



4,019



3,830Amortization of deferred loan costs


3,195



1,925



1,002Write off of deferred loan costs due to repayment and
    extinguishment of debt










2,002Amortization of debt premium on mortgage notes payable


(827
)


(2,148
)


(1,761
)Loss/(income) from unconsolidated partnerships


893



(83
)


(119
)Distributions received from unconsolidated partnerships


357



130



106Distributions to minority interest in consolidated partnerships


(108
)






Changes in operating assets and liabilities:Restricted cash


(2,441
)


(939
)


(3,017
)Accounts receivable


1,296



3,695



(8,293
)Accrued straight-line rents


(15,969
)


(11,715
)


(5,425
)Deferred leasing costs


(9,664
)


(3,070
)


(1,196
)Other assets


(2,231
)


(3,620
)


187Due to affiliates










(53
)Security deposits


(587
)


79



1,000Accounts payable, accrued expenses and other liabilities


(8,530
)


13,156



10,619Net cash provided by operating activities


114,843



101,535



54,762Investing activities:Purchases of interests in and additions to investments in real
    estate and related intangible assets


(394,504
)


(1,340,204
)


(604,462
)Purchases of interests in unconsolidated partnerships


(21,402
)






Proceeds from sale of real estate assets, net of selling costs


19,389







Minority interest investment in consolidated partnerships


205



449



594Receipts of master lease payments


928



726



2,025Security deposits received from prior owners of rental properties






720



1,074Redemption of operating partnership units for cash










(173
)Funds held in escrow for acquisitions


(12,900
)






(200
)Additions to non-real estate assets


(1,017
)


(1,154
)


(663
)Net cash used in investing activities


(409,301
)


(1,339,463
)


(601,805
) 59




---



##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  CONSOLIDATED
    STATEMENTS OF CASH FLOWS  (Continued)
  Year Ended December 31,2007


2006


2005Financing activities:Proceeds from common stock offering






528,783



340,257Proceeds from exercise of stock warrant






4,050



Proceeds from preferred stock offering


230,000







Payment of common stock offering costs






(21,989
)


(16,678
)Payment of preferred stock offering costs


(7,587
)






Payment of deferred loan costs


(3,856
)


(14,675
)


(6,192
)Unsecured line of credit proceeds


286,237



620,476



244,175Unsecured line of credit repayments


(243,455
)


(409,311
)


(227,175
)Secured term loan proceeds










250,000Unsecured term loan proceeds










100,000Unsecured term loan payments










(100,000
)Secured bridge loan proceeds






150,000



Secured bridge loan payments






(150,000
)


Exchangeable senior notes proceeds






175,000



Secured construction loan proceeds


138,805



286,355



Mortgage notes proceeds






147,000



Principal payments on mortgage notes payable


(21,579
)


(5,401
)


(3,759
)Tenant improvement loan






(2,000
)


Tenant improvement loan repayments


122



53



Distributions to operating partnership unit holders


(3,936
)


(3,312
)


(3,098
)Dividends paid to common stockholders


(79,851
)


(61,749
)


(38,044
)Dividends paid to preferred stockholders


(12,627
)






Net cash provided by financing activities


282,273



1,243,280



539,486Net (decrease)/increase in cash and cash equivalents


(12,185
)


5,352



(7,557
)Cash and cash equivalents at beginning of year


25,664



20,312



27,869Cash and cash equivalents at end of year

$
13,479


$
25,664


$
20,312Supplemental disclosure of cash flow information:Cash paid for interest (net of amounts capitalized of $56,699,
    $7,614, and $708, respectively)

$
25,154


$
33,965


$
20,291Supplemental disclosure of non-cash investing and financing
    activities:Accrual for common stock dividends declared


20,326



18,973



12,591Accrual for preferred stock dividends declared


4,241







Accrual for distributions declared for operating partnership
    unit and LTIP unit holders


1,029



874



773Mortgage loans assumed (includes premium of $0, $1,037, and
    $11,312, respectively)






18,460



149,517Accrued additions to real estate and related intangible assets


46,783



29,680



4,812    60




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##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL STATEMENTS
  1.
    Organization
    and Description of Business        2.
    Basis of
    Presentation and Summary of Significant Accounting
    Policies  Principles
    of Consolidation
    Investments
    in Partnerships
  Consolidation of Variable Interest
    Entities Consolidated
    Financial Statements
  No. 04-5, Determining Whether a General Partner, or the General
    Partners as a Group, Controls a Limited Partnership or Similar
    Entity When the Limited
 61




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##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
  Partners Have Certain Rights (EITF 04-5), EITF 04-5 states EITF 04-5
  EITF 04-5,
    Investments
    in Real Estate
    Buildings and improvements

15-40 yearsGround lease

Term of the related leaseTenant improvements

Shorter of the useful lives or the terms of the related leasesFurniture, fixtures, and equipment (other assets)

3 to 5 yearsAcquired in-place leases

Non-cancelable term of the related leaseAcquired management agreements

Non-cancelable term of the related agreement     December 31,2007


2006Land

$
313,685


$
270,286Ground lease(1)






14,210Land under development


103,743



85,362Buildings and improvements


1,675,530



1,598,384Construction in progress


750,460



497,971Tenant improvements


67,009



51,9042,910,427



2,518,117Accumulated depreciation


(104,444
)


(60,579
)$
2,805,983


$
2,457,538  62




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##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
    (1)
    
    During 2007, the Company acquired a fee simple interest in the
    land at its Landmark at Eastview property. The balance of
    $14.2 million was subsequently reclassified from ground
    lease to land.  lease-up lease-up
  lease-up lease-up
      Impairment
    of Long-Lived Assets and Long-Lived Assets to be
    Disposed
   63




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##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
    Cash
    and Cash Equivalents
    Restricted
    Cash
    Deferred
    Leasing Costs
      Balance at


AccumulatedDecember 31, 2007


Amortization


NetAcquired in-place leases

$
167,664


$
(71,412
)

$
96,252Acquired management agreements


12,921



(6,603
)


6,318Deferred leasing and other direct costs


15,541



(1,620
)


13,921$
196,126


$
(79,635
)

$
116,491     Balance at


AccumulatedDecember 31, 2006


Amortization


NetAcquired in-place leases

$
162,935


$
(47,066
)

$
115,869Acquired management agreements


12,601



(4,574
)


8,027Deferred leasing and other direct costs


6,122



(696
)


5,426$
181,658


$
(52,336
)

$
129,322  64




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##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
    2008





$
23,7602009






20,6802010






14,0932011






10,6182012






9,578Thereafter






37,762$
116,491   Deferred
    Loan Costs
    Revenue
    Recognition
    
    whether the lease stipulates how and on what a tenant
    improvement allowance may be spent;
    whether the tenant or landlord retain legal title to the
    improvements;
    the uniqueness of the improvements;
    the expected economic life of the tenant improvements relative
    to the length of the lease;
    the responsible party for construction cost overruns; and
    who constructs or directs the construction of the improvements.   65




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##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
        2008





$
196,9142009






221,8152010






220,8002011






210,4272012






206,368Thereafter






1,801,485$
2,857,809     December 31,2007


2006Acquired above-market leases

$
12,729


$
12,084Accumulated amortization


(6,984
)


(4,533
)$
5,745


$
7,551     December 31,2007


2006Acquired below-market leases

$
37,961


$
33,495Accumulated amortization


(14,253
)


(8,394
)$
23,708


$
25,101  66




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##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
    2008


2009


2010


2011


2012


Thereafter


TotalAmortization of:Acquired above-market leases

$
(1,416
)

$
(1,282
)

$
(1,222
)

$
(581
)

$
(314
)

$
(930
)

$
(5,745
)Acquired below-market leases


5,800



5,220



4,167



1,618



1,618



5,285



23,708Net rental revenues  increase

$
4,384


$
3,938


$
2,945


$
1,037


$
1,304


$
4,355


$
17,963   EITF 99-19, Reporting Revenue Gross as a Principal versus Net as an Agent (EITF 99-19). EITF 99-19
    EITF 85-27, Recognition of Receipts from
    Made-Up
    Rental Shortfalls.
  Allowance
    for Doubtful Accounts
    Share-Based
    Payments
  Share-Based
    Payment
 67




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##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
    Derivative
    Instruments
        Equity
    Offering Costs
    Income
    Taxes
     68




---



##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
  Dividends
    and Distributions
      For the Year Ended December 31,2007


2006


2005Per Share


%


Per Share


%


Per Share


%Common stock:Ordinary income

$
0.98



80.52
%

$
1.06



99.07
%

$
1.01



100.00
%Capital gain


0.02



1.38
%






0.00
%






0.00
%Return of capital


0.22



18.10
%


0.01



0.93
%






0.00
%Total

$
1.22



100.00
%

$
1.07



100.00
%

$
1.01



100.00
%Preferred stock:Ordinary income

$
1.35



98.54
%

$




0.00
%

$




0.00
%Capital gain


0.02



1.46
%






0.00
%






0.00
%Return of capital






0.00
%






0.00
%






0.00
%Total

$
1.37



100.00
%

$




0.00
%

$




0.00
%   Managements
    Estimates
     69




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##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
  Segment
    Information
  triple-net Disclosures about
    Segments of an Enterprise and Related Information
  Reclassifications
    3.
    Minority
    Interests      For the Year Ended December 31,2007


2006Partnership Units


Percentage of


Partnership Units


Percentage ofand LTIP Units


Total


and LTIP Units


TotalBioMed Realty Trust


65,308,702



95.7
%


65,151,884



95.8
%Minority interest consisting of:Partnership and LTIP units held by employees and related parties


2,726,172



4.0
%


2,673,172



3.9
%Partnership units held by third parties


190,392



0.3
%


190,392



0.3
%Total


68,225,266



100.0
%


68,015,448



100.0
%    70




---



##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
    4.
    Stockholders
    Equity      Common
    Stock, Partnership Units and LTIP Units
    7.375%
    Series A Cumulative Redeemable Preferred
    Stock
   71




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##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
    Dividends
    and Distributions
    Dividend and

Dividend andAmount Per




Distribution

Distribution AmountDeclaration Date

Securities Class

Share/Unit


Period Covered

Payable Date

(In thousands)March 15, 2007

Common stock and partnership and LTIP units

$
0.31000


January 1, 2007 to March 31, 2007

April 16, 2007

$
21,309March 15, 2007

Series A preferred stock

$
0.45582


January 18, 2007 to April 16, 2007

April 16, 2007

$
4,193June 15, 2007

Common stock and partnership and LTIP units

$
0.31000


April 1, 2007 to June 30, 2007

July 16, 2007

$
21,315June 15, 2007

Series A preferred stock

$
0.45582


April 17, 2007 to July 15, 2007

July 16, 2007

$
4,194September 14, 2007

Common stock and partnership and LTIP units

$
0.31000


July 1, 2007 to September 30, 2007

October 15, 2007

$
21,316September 14, 2007

Series A preferred stock

$
0.46094


July 16, 2007 to October 15, 2007

October 15, 2007

$
4,240December 12, 2007

Common stock and partnership and LTIP units

$
0.31000


October 1, 2007 to December 31, 2007

January 15, 2008

$
21,355December 12, 2007

Series A preferred stock

$
0.46094


October 16, 2007 to January 15, 2007

January 15, 2008

$
4,241     Common stock, partnership units, and LTIP units

$
85,295Series A preferred stock


16,868$
102,163  72




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##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
  5.
    Mortgage
    Notes Payable    Effective


Principal BalanceStated Fixed


Interest


December 31,Interest Rate


Rate


2007


2006


Maturity DateArdentech Court


7.25
%


5.06
%

$
4,564


$
4,658


July 1, 2012Bayshore Boulevard


4.55
%


4.55
%


15,335



15,730


January 1, 2010Bridgeview Technology Park I


8.07
%


5.04
%


11,508



11,625


January 1, 2011Eisenhower Road


5.80
%


4.63
%


2,113



2,164


May 5, 2008Elliott Avenue


7.38
%


4.63
%






16,020


November 24, 200740 Erie Street


7.34
%


4.90
%


17,625



18,676


August 1, 2008500 Kendall Street (Kendall D)


6.38
%


5.45
%


69,437



70,963


December 1, 2018Lucent Drive


5.50
%


5.50
%


5,543



5,733


January 21, 2015Monte Villa Parkway


4.55
%


4.55
%


9,336



9,576


January 1, 20106828 Nancy Ridge Drive


7.15
%


5.38
%


6,785



6,872


September 1, 2012Road to the Cure


6.70
%


5.78
%


15,427



15,657


January 31, 2014Science Center Drive


7.65
%


5.04
%


11,301



11,444


July 1, 2011Shady Grove Road


5.97
%


5.97
%


147,000



147,000


September 1, 2016Sidney Street


7.23
%


5.11
%


29,986



30,732


June 1, 20129885 Towne Centre Drive


4.55
%


4.55
%


21,323



21,872


January 1, 2010900 Uniqema Boulevard


8.61
%


5.61
%


1,509



1,648


May 1, 2015368,792



390,370Unamortized premiums










10,888



13,466$
379,680


$
403,836       6.  Credit
    Facilities, Exchangeable Notes, and Other Debt
    Instruments
  Unsecured
    Line of Credit
   73




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##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
    Secured
    Term Loan
      Exchangeable
    Senior Notes
   74




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##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
    Secured
    Construction Loan
  | |
    2008

$
24,4542009


430,1862010


47,4462011


297,1672012


291,421Thereafter


399,225$
1,489,899   7.
    Earnings
    Per Share   75




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##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
  Earnings per Share
  Year Ended December 31,2007


2006


2005Income from continuing operations and net income available
    for common stockholders (basic earnings per share):Income from continuing operations

$
70,881


$
33,568


$
16,992Preferred stock dividends


(16,868
)






Income from continuing operations available to common
    stockholders


54,013



33,568



16,992Income from discontinued operations


1,652



1,465



54Net income available to common stockholders

$
55,665


$
35,033


$
17,046Income from continuing operations and net income available
    for common stockholders (diluted earnings per share):Income from continuing operations available to common
    stockholders

$
54,013


$
33,568


$
16,992Minority interests in continuing operations of operating
    partnership


2,412



1,670



1,271Income from continuing operations available to common
    stockholders before minority interests in continuing operations


56,425



35,238



18,263Income from discontinued operations


1,652



1,465



54Minority interest in discontinued operations of operating
    partnership


74



77



3Net income available to common stockholders before minority
    interests

$
58,151


$
36,780


$
18,320Weighted-average common shares outstanding:Basic


65,302,794



55,928,595



38,913,103Incremental shares from assumed conversion/exercise:Stock warrant






94,155



92,488Unvested restricted stock and LTIP units using the treasury
    method


50,869



131,690



215,078Operating partnership and LTIP units


2,916,322



2,863,564



2,870,526Diluted


68,269,985



59,018,004



42,091,195Basic and diluted earnings per share:Income per share  basic:Income per share from continuing operations available to common
    stockholders

$
0.83


$
0.60


$
0.44Income per share from discontinued operations


0.02



0.03



Net income per share available to common stockholders

$
0.85


$
0.63


$
0.44Income per share  diluted:Income per share from continuing operations available to common
    stockholders

$
0.83


$
0.60


$
0.43Income per share from discontinued operations


0.02



0.02



0.01Net income per share available to common stockholders

$
0.85


$
0.62


$
0.44  76




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##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
  8.
    Fair-Value
    of Financial Instruments  Disclosure about Fair-value of
    Financial Instruments
      Accounting for Derivative Investment
    and Hedging Activities
    9.
    Incentive
    Award Plan     77




---



##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
  lock-up lock-up
      WeightedUnvested Restricted


Average Grant-Shares/LTIP Units


Date Fair-ValueBalance at December 31, 2004


336,333


$
15.03Granted


129,674



22.31Vested


(117,440
)


15.02Forfeited


(4,075
)


20.99Balance at December 31, 2005


344,492



17.70Granted


243,232



27.75Vested


(163,194
)


16.82Forfeited


(150
)


26.70Balance at December 31, 2006


424,380



23.79Granted


458,015



28.14Vested


(209,818
)


20.37Forfeited


(8,259
)


28.17Balance at December 31, 2007


664,318


$
27.81  78




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##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
  10.
    Investment
    in Unconsolidated Partnerships  EITF 04-5
  Companys


CompanysOwnership


Economic




AcquisitionName

Partner

Interest


Interest


Date Acquired

Price(1)PREI I(2)

PREI


20
%


20%


April 4, 2007

$
466,252PREI II(3)

PREI


20
%


20%


April 4, 2007


40,472McKellar Court(4)

Quidel Corporation


21
%


21%(5
)

September 30, 2004


2,058     (1)
    
    The acquisition price represents the total purchase price for
    the properties acquired by each partnership, excluding closing
    costs.(2)
    
    PREI I LLC acquired a portfolio of properties in Cambridge,
    Massachusetts comprised of a stabilized laboratory/building
    totaling 184,445 square feet located at 320 Bent Street, a
    37-unit
    apartment building, an operating garage facility on Rogers
    Street with 503 spaces, an operating below grade garage facility
    at Kendall Square with approximately 1,400 spaces, and two
    buildings currently under construction at 301 Binney Street and
    650 East Kendall Street that the Company believes can support up
    to 700,000 rentable square feet of laboratory and office
    space. The 650 East Kendall Street site will also include a
    below grade parking facility that the Company estimates can
    support up to 560 spaces upon completion.Each of the PREI operating agreements includes a put/call option
    whereby either member can cause the limited liability company to
    sell certain properties in which it holds leasehold interests to
    the Company at any time after the fifth anniversary and before
    the seventh anniversary of the acquisition date. However, the
    put/call option may be terminated prior to exercise under
    certain circumstances. The put/call option purchase price is
    based on a predetermined return on capital invested by PREI. If
    the put/call option is exercised, the Company believes that it
    would have adequate resources to fund the purchase price.The PREI limited liability companies jointly entered into a
    secured acquisition and interim loan facility with KeyBank in
    which the partnerships utilized approximately
    $427.0 million to fund a portion of the purchase price for
    the properties acquired in April 2007. The remaining funds
    available will be utilized to fund future construction costs at
    certain properties currently under development. Pursuant to the
    loan facility, the Company executed guaranty agreements in which
    it guaranteed the full completion of the construction at the 301
    Binney Street property if PREI I LLC is unable or unwilling to
    complete the project.(3)
    
    PREI II LLC acquired a portfolio of properties comprised of a
    development parcel in Houston, Texas; a laboratory/office
    building totaling 259,706 rentable square feet and fee
    simple and leasehold interests in surrounding land parcels
    located at the Science Park at Yale in New Haven, Connecticut;
    and 25,000 rentable square feet of retail space and
    additional pad sites for future development in Cambridge,
    Massachusetts. On 79




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##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
  August 2, 2007, PREI II LLC completed the disposition of
    the 25,000 square feet of retail and additional pad sites
    in Cambridge, Massachusetts. The total sale price included
    approximately $4.0 million contingently payable in June
    2012 pursuant to a put/call option, exercisable on the earlier
    of the extinguishment or expiration of development restrictions
    placed on a portion of the development rights included in the
    disposition. On September 28, 2007, PREI II LLC completed
    the disposition of the laboratory/office building and the fee
    simple and leasehold interests in surrounding land parcels in
    New Haven, Connecticut. On December 28, 2007, PREI II LLC
    completed the disposition of the development parcel in Houston,
    Texas. None of the sales resulted in the recognition of a
    material gain or loss. The Companys remaining investment
    in PREI II LLC (maximum exposure to losses) was approximately
    $809,000 at December 31, 2007.(4)
    
    The McKellar Court partnership holds a property comprised of a
    two-story laboratory/office building totaling
    72,863 rentable square feet located in San Diego,
    California. The Companys investment in the McKellar Court
    partnership (maximum exposure to losses) was approximately
    $2.4 million at December 31, 2007.(5)
    
    The Companys economic interest in the McKellar Court
    partnership entitles it to 75% of the gains upon a sale of the
    property and 21% of the operating cash flows.      December 31,2007


2006Assets:Investments in real estate, net

$
522,277


$
15,061Cash and cash equivalents (including restricted cash)


8,430



605Intangible assets, net


17,552



Other assets


8,488



1,078Total assets

$
556,747


$
16,744Liabilities and members equity:Mortgage notes payable and secured loan

$
426,914


$
10,619Other liabilities


23,215



285Members equity


106,618



5,840Total liabilities and equity

$
556,747


$
16,744Companys net investment in unconsolidated partnerships

$
22,588


$
2,436    80




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##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
    Year Ended December 31,2007


2006


2005Total revenues

$
18,945


$
1,911


$
1,907Rental operations expenses and real estate taxes


8,854



197



199Depreciation and amortization


5,674



381



236Interest expense, net of interest income


8,946



928



894Total expenses


23,474



1,506



1,329Net (loss)/income

$
(4,529
)

$
405


$
578Companys equity in net (loss)/income of unconsolidated
    partnerships

$
(893
)

$
83


$
119   11.
    Discontinued
    Operations    OriginalProperty

Date of Sale


Acquisition Date


Sales Price


Gain on SaleColorow Drive


May 30, 2007



December 22, 2005


$
20,000


$
1,087     Year Ended December 31,2007


2006


2005Total revenues

$
1,111


$
2,675


$
72Total expenses


472



1,133



15Income before minority interests and gain on sale


639



1,542



57Gain on sale of real estate assets


1,087







Minority interests attributable to discontinued operations


(74
)


(77
)


(3
)Income from discontinued operations

$
1,652


$
1,465


$
54   12.
    Derivative
    and Other Financial Instruments     81




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##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
    fair-values,
  Current









Fair-ValueNotional









December 31,


December 31,Amount


Strike Rate


Effective Date

Expiration Date

2007


2006$
250,000



4.157
%

June 1, 2005

June 1, 2010

$
(2,830
)

$
6,263150,000



5.162
%

December 30, 2008

December 30, 2018


(4,254
)


70450,000



5.167
%

December 30, 2008

December 30, 2018


(1,437
)


217100,000



5.167
%

December 30, 2008

December 30, 2018


(2,874
)


434150,000



5.152
%

December 30, 2008

December 30, 2018


(4,139
)


808115,000



4.673
%

October 1, 2007

August 1, 2011


(3,261
)


35,000



4.700
%

October 10, 2007

August 1, 2011


(1,019
)


330,000



4.825
%

September 25, 2007

September 25, 2008


(1,700
)


55,000



4.760
%

September 20, 2007

September 20, 2008


(254
)


$
1,235,000










$
(21,768
)

$
8,426          82




---



##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
        13.
    Commitments
    and Contingencies  Concentration
    of Credit Risk
      Construction
    and Other Related Commitments
   83




---



##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
  Insurance
    Environmental
    Matters
    Repurchase
    Agreements
      Other
    Agreements
  |
 84




---



##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
    Tax
    Indemnification Agreements and Minimum Debt
    Requirements
    Legal
    Proceedings
    14.
    Property
    Acquisitions    Acquired


Deferred Leasing


AcquiredAbove


Costs


BelowAcquisition


Investment in


Market


In-Place


Management


Market


Total CashProperty

Date


Real Estate


Lease


Lease


Fee


Lease


ConsiderationTorreyana Road


3/22/2007


$
32,128


$



$
1,937


$
57


$
(1,082
)

$
33,0406114-6154
    Nancy Ridge Drive


5/2/2007



37,711



645











(126
)


38,2309920 Belward Campus Drive


5/8/2007



15,141







1,282



145



(1,483
)


15,085Pacific Center Boulevard


8/24/2007



16,893







623



118



(855
)


16,779Forbes Boulevard


9/5/2007



32,584







886







(919
)


32,551$
134,457


$
645


$
4,728


$
320


$
(4,465
)

$
135,685Weighted-average intangible amortization life (in months)










241



42



58



54



  85




---



##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
    Deferred Leasing


AcquiredAcquired


Costs


Below


Mortgage


MortgageAcquisition


Investment in


Above Market


In-Place


Management


Market


Note


Note


Total CashProperty

Date


Real Estate


Lease


Lease


Fee


Lease


Assumed


Premium


ConsiderationArdenwood Venture


6/14/2006


$
14,153


$



$
313


$
10


$
(74
)

$



$



$
14,402Belward Campus Drive


5/24/2006



200,974



























200,974Center for Life
    Science | Boston


11/17/2006



467,417







4,155



1,370















472,942Charles Street


4/7/2006



12,033



327



1,043







(178
)










13,225Fairview Avenue


1/12/2006



2,703



























2,703John Hopkins Court


8/16/2006



23,086



























23,086One Research Way


5/31/2006



8,267



























8,267Pacific Research Center


7/11/2006



214,900



























214,900Road to the Cure


12/14/2006



23,559



145



462



54







(15,657
)


(801
)


7,762Shady Grove Road


5/24/2006



226,149



























226,149Sorrento Valley Boulevard


12/7/2006



19,174



19



1,055



91















20,339Spring Mill Drive


7/20/2006



9,022



13



704



87



(12
)










9,814Trade Centre Avenue


8/9/2006



18,679







1,947



92















20,718900 Uniqema Boulevard


1/13/2006



4,096



700



310











(1,766
)


(236
)


3,104Walnut Street


7/7/2006



41,268







3,634



180















45,082217th Place


11/21/2006



10,654



























10,654$
1,296,134


$
1,204


$
13,623


$
1,884


$
(264
)

$
(17,423
)

$
(1,037
)

$
1,294,121Weighted-average intangible amortization life (in months)










74



113



150



20







92



     15.
    Newly
    Issued Accounting Pronouncements  Accounting for Uncertainty in Income Taxes, an Interpretation
    of FASB Statement No. 109
  Fair-Value Measurements
 86




---



##### Table of Contents



BIOMED
    REALTY TRUST, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
    The
    Fair-Value Option for Financial Assets and Financial Liabilities Accounting for Derivative Instruments
    and Hedging Activities
  Business Combinations
  Noncontrolling Interests in Consolidated Financial Statements
 87




---



##### Table of Contents



16.
    Subsequent
    Events    17.
    Quarterly
    Financial Information (unaudited)    2007 Quarter EndedDecember 31


September 30


June 30


March 31Total revenues

$
64,050


$
64,832


$
68,429


$
68,798Income from continuing operations before minority interests


18,044



16,951



17,773



20,571Minority interests


(574
)


(494
)


(690
)


(699
)Income from continuing operations


17,470



16,457



17,083



19,872(Loss)/income from discontinued operations






(1
)


1,283



371Net income


17,470



16,456



18,366



20,243Net income available to common stockholders

$
13,229


$
12,215


$
14,172


$
16,049Income from continuing operations per share available to common
    stockholders  basic and diluted(1)

$
0.20


$
0.19


$
0.20


$
0.24Net income per share available to common
    stockholders  basic and diluted(1)

$
0.20


$
0.19


$
0.22


$
0.25   2006 Quarter EndedDecember 31


September 30


June 30


March 31Total revenues

$
62,978


$
63,837


$
48,790


$
43,130Income from continuing operations before minority interests


12,736



10,928



7,128



4,310Minority interests


(517
)


(482
)


(335
)


(200
)Income from continuing operations


12,219



10,446



6,793



4,110Income from discontinued operations


370



366



365



364Net income


12,589



10,812



7,158



4,474Income from continuing operations per share available to common
    stockholders  basic and diluted(1)

$
0.19


$
0.17


$
0.13


$
0.09Net income per share available to common
    stockholders  basic and diluted(1)

$
0.19


$
0.18


$
0.14


$
0.10     (1)
    
    The sum of quarterly financial data may vary from the annual
    data due to rounding.  Form 10-Q
 88




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##### Table of Contents





SCHEDULE III 
    REAL ESTATE AND ACCUMULATED DEPRECIATIONAs of December 31, 2007
    (In thousands) Gross amount carried at December 31,Initial Cost


Costs


2007Year











Buildings


Capitalized





BuildingsBuilt/








Ground


and


Subsequent





and





AccumulatedProperty

Renovated


Encumbrances


Land


Lease


Improvements


to Acquisition


Land


Improvements


Total


Depreciation


Net(1)




















(2)


(3)Albany Street


1922/1998


$



$
1,942


$



$
31,293


$
48


$
1,942


$
31,341


$
33,283


$
(2,035
)

$
31,248Ardentech Court(4)


1997/2001



4,564



2,742







5,379



4,782



2,742



10,161



12,903



(420
)


12,483Ardenwood Venture


1985







3,550







10,603







3,550



10,603



14,153



(469
)


13,684Balboa Avenue


1968/2000







1,316







9,493



134



1,316



9,627



10,943



(843
)


10,100Bayshore Boulevard


2000



15,335



3,667







22,593



7,353



3,667



29,946



33,613



(2,943
)


30,670Beckley Street


1999







1,480







17,590







1,480



17,590



19,070



(1,337
)


17,733Bernardo Center Drive


1974/1992







2,580







13,714



4,209



2,580



17,923



20,503



(1,012
)


19,4919911 Belward Campus Drive


2001







4,160







196,814







4,160



196,814



200,974



(8,205
)


192,7699920 Belward Campus Drive


2000







3,935







11,206







3,935



11,206



15,141



(235
)


14,906Center for Life
    Science |Boston(4)






425,160



60,000







407,747



196,129



60,000



603,876



663,876







663,876Bridgeview Technology Park I


1977/2002



11,508



1,315







14,716



4,051



2,494



17,588



20,082



(1,502
)


18,580Bridgeview Technology Park II


1977/2002







1,522







13,066







1,522



13,066



14,588



(911
)


13,677Charles Street


1986







5,000







7,033







5,000



7,033



12,033



(384
)


11,649Coolidge Avenue


1962/1999







2,760







7,102







2,760



7,102



9,862



(480
)


9,382Dumbarton Circle


1990







2,723







5,096



93



2,723



5,189



7,912



(1,041
)


6,871Eccles Avenue


1965/1995







21,257







608



570



21,257



1,178



22,435



(608
)


21,827Eisenhower Road


1973/2000



2,113



416







2,614



62



416



2,676



3,092



(221
)


2,871Elliott Avenue


1925/2004







10,124







38,911



4,583



10,124



43,494



53,618



(2,770
)


50,84821 Erie Street


1925/2004







3,366







18,372



59



3,366



18,431



21,797



(1,195
)


20,60240 Erie Street


1996



17,625



7,593







33,765



121



7,593



33,886



41,479



(2,190
)


39,289Fairview Avenue(4)










2,703







694



17,321



2,703



18,015



20,718







20,718Faraday Avenue


1986







1,370







7,201







1,370



7,201



8,571



(410
)


8,161Forbes Boulevard


1978







19,250







13,334







19,250



13,334



32,584



(111
)


32,473Fresh Pond Research Park


1948/2002







3,500







18,322



279



3,500



18,601



22,101



(1,273
)


20,828George Patterson Boulevard


1996/2005







1,575







11,029



276



1,575



11,305



12,880



(605
)


12,275Graphics Drive


1992/2007







800







6,577



5,067



800



11,644



12,444



(825
)


11,619Industrial Road


2001/2005







12,000







41,718



14,081



12,000



55,799



67,799



(7,393
)


60,406John Hopkins Court(4)


1991







3,560







19,526



4,464



3,560



23,990



27,550







27,550Kaiser Drive


1990







3,430







6,093



1,119



3,430



7,212



10,642



(204
)


10,438500 Kendall Street (Kendall D)


2002



69,437



3,572







166,308



572



3,572



166,880



170,452



(10,829
)


159,623King of Prussia Road


1954/2004







12,813







66,525



325



12,813



66,850



79,663



(5,686
)


73,977Landmark at Eastview(5)


1958/1999











14,210



61,996



47,102



14,345



108,963



123,308



(6,761
)


116,547Lucent Drive


2004



5,543



265







5,888







265



5,888



6,153



(380
)


5,773Monte Villa Parkway


1996/2002



9,336



1,020







10,711







1,020



10,711



11,731



(904
)


10,8276114-6154
    Nancy Ridge Drive


1994







10,100







27,611







10,100



27,611



37,711



(479
)


37,2326828 Nancy Ridge Drive


1983/2001



6,785



2,344







9,611



484



2,344



10,095



12,439



(790
)


11,649One Research Way(4)


1980







1,813







6,454



2,047



1,813



8,501



10,314







10,314 89




---



##### Table of Contents



Gross amount carried at December 31,Initial Cost


Costs


2007Year











Buildings


Capitalized





BuildingsBuilt/








Ground


and


Subsequent





and





AccumulatedProperty

Renovated


Encumbrances


Land


Lease


Improvements


to Acquisition


Land


Improvements


Total


Depreciation


Net(1)




















(2)


(3)Pacific Center Boulevard


1991







5,400







11,493



221



5,400



11,714



17,114



(108
)


17,006Pacific Research Center(4)


2000







74,147







142,437



20,720



74,147



163,157



237,304



(3,983
)


233,321Phoenixville Pike


1989







1,204







10,879



5,429



1,204



16,308



17,512



(1,002
)


16,510Road to the Cure


1977



15,427



4,430







19,129



615



4,430



19,744



24,174



(195
)


23,979San Diego Science Center


1973/2002







3,871







21,875



251



3,871



22,126



25,997



(1,776
)


24,221Science Center Drive


1995



11,301



2,630







16,440







2,630



16,440



19,070



(1,350
)


17,720Shady Grove Road


2003



147,000



28,601







197,548



1,290



28,639



198,800



227,439



(8,364
)


219,075Sidney Street


2000



29,986



7,580







50,459



29



7,580



50,488



58,068



(3,267
)


54,801Sorrento Valley Boulevard


1982







4,140







15,034







4,140



15,034



19,174



(518
)


18,656Spring Mill Drive


1988







1,074







7,948



139



1,074



8,087



9,161



(426
)


8,735Trade Centre Avenue


1997







3,275







15,404







3,275



15,404



18,679



(670
)


18,009Torreyana Road


1980/1997







7,660







24,468







7,660



24,468



32,128



(511
)


31,6179865 Towne Centre Drive(4)










5,738







2,991



10,684



5,738



13,675



19,413



(252
)


19,1619885 Towne Centre Drive


2001



21,323



4,982







28,513







4,982



28,513



33,495



(2,406
)


31,089Tributary Street


1983/1998







2,060







10,597







2,060



10,597



12,657



(806
)


11,851900 Uniqema Boulevard


2000



1,509



404







3,692







404



3,692



4,096



(196
)


3,9001000 Uniqema Boulevard


1999







1,350







13,229







1,350



13,229



14,579



(744
)


13,835Vassar Street


1950/1998







2,040







13,841







2,040



13,841



15,881



(894
)


14,987Waples Street


1983/2005







2,470







2,907



9,820



2,470



12,727



15,197



(2,055
)


13,142Walnut Street


2004







5,200







36,068







5,200



36,068



41,268



(1,606
)


39,662675 West Kendall Street (Kendall A)


2002







4,922







121,182







4,922



121,182



126,104



(7,826
)


118,278217th Place


1987/2007







7,125







3,529



12,846



7,125



16,375



23,500



(38
)


23,462Total





$
793,952


$
401,866


$
14,210


$
2,116,976


$
377,375


$
417,428


$
2,492,999


$
2,910,427


$
(104,444
)

$
2,805,983     (1)
    
    Includes secured construction loan secured by the Center for
    Life Science | Boston
    property, but excludes unamortized debt premium of $10,888.(2)
    
    The aggregate gross cost of the Companys rental property
    for federal income tax purposes approximated $3.0 billion
    as of December 31, 2007 (unaudited).(3)
    
    Depreciation of building and improvements is recorded on a
    straight-line basis over the estimated useful lives ranging from
    15 years to 40 years.(4)
    
    The entire property was under development or redevelopment as of
    December 31, 2007.(5)
    
    During 2007, the Company acquired a fee simple interest in the
    land at its Landmark at Eastview property. The balance of
    $14.2 million was subsequently reclassified from ground
    lease to land. 90




---



##### Table of Contents





Year Ended December 31,2007


2006


2005Investment in real estate:Balance at beginning of year

$
2,518,117


$
1,151,275


$
471,799Property acquisitions


134,457



1,296,134



650,642Improvements


257,853



70,708



28,834Balance at end of year

$
2,910,427


$
2,518,117


$
1,151,275Accumulated Depreciation:Balance at beginning of year

$
(60,579
)

$
(21,904
)

$
(3,269
)Depreciation expense


(43,865
)


(38,675
)


(18,635
)Balance at end of year

$
(104,444
)

$
(60,579
)

$
(21,904
)    91




---



##### Table of Contents



Item 9.
    Changes
    in and Disagreements with Accountants on Accounting and
    Financial Disclosure    Item 9A.
    Controls
    and Procedures  Evaluation
    of Disclosure Controls and Procedures
  Rule 13a-15(b)
  Managements
    Report on Internal Control Over Financial Reporting
      Rule 13a-15(f)
 92




---



##### Table of Contents



Changes
    in Internal Control over Financial Reporting
    Item 9B.
    Other
    Information   PART III  Item 10.
    Directors,
    Executive Officers and Corporate Governance  Form 10-K,
    Form 10-K,
  Form 10-K,
  Item 11.
    Executive
    Compensation    Item 12.
    Security
    Ownership of Certain Beneficial Owners and Management and
    Related Stockholder Matters    Item 13.
    Certain
    Relationships and Related Transactions, and Director
    Independence   93




---



##### Table of Contents



Item 14.
    Principal
    Accountant Fees and Services    Item 15.
    Exhibits
    and Financial Statement Schedules  (b)
    Exhibits  ExhibitNumber

Description3.1

Articles of Amendment and Restatement of BioMed Realty Trust,
    Inc.(1)3.2

Amended and Restated Bylaws of BioMed Realty Trust, Inc.(1)3.3

Articles Supplementary Classifying BioMed Realty Trust,
    Inc.s 7.375% Series A Cumulative Redeemable Preferred
    Stock.(2)4.1

Form of Certificate for Common Stock of BioMed Realty Trust,
    Inc.(3)4.2

Form of Certificate for 7.375% Series A Cumulative
    Redeemable Preferred Stock of BioMed Realty Trust, Inc.(2)4.3

Indenture, dated September 25, 2006, among BioMed Realty,
    L.P., BioMed Realty Trust, Inc. and U.S. Bank National
    Association, as trustee, including the form of 4.50%
    Exchangeable Senior Notes due 2026.(4)10.1

Fourth Amended and Restated Agreement of Limited Partnership of
    BioMed Realty, L.P. dated as of January 18, 2007.(5)10.2

Registration Rights Agreement dated as of August 13, 2004
    among BioMed Realty Trust, Inc. and the persons named therein.(1)10.3

2004 Incentive Award Plan, as amended.(6)10.4

Form of Restricted Stock Award Agreement under the 2004
    Incentive Award Plan.(7)10.5

Form of Long Term Incentive Plan Unit Award Agreement.(6)10.6

Form of Indemnification Agreement between BioMed Realty Trust,
    Inc. and each of its directors and officers.(3)10.7

Amended and Restated Employment Agreement dated as of
    December 14, 2007 between BioMed Realty Trust, Inc. and
    Alan D. Gold.(8)10.8

Amended and Restated Employment Agreement dated as of
    December 14, 2007 between BioMed Realty Trust, Inc. and
    Gary A. Kreitzer.(8)10.9

Amended and Restated Employment Agreement dated as of
    December 14, 2007 between BioMed Realty Trust, Inc. and R.
    Kent Griffin, Jr.(8)10.10

Amended and Restated Employment Agreement dated as of
    December 14, 2007 between BioMed Realty Trust, Inc. and
    John F. Wilson, II.(8)10.11

Amended and Restated Employment Agreement dated as of
    December 14, 2007 between BioMed Realty Trust, Inc. and
    Matthew G. McDevitt.(8)10.12

Contribution Agreement between Alan D. Gold and BioMed Realty,
    L.P. dated as of May 4, 2004.(3)10.13

Contribution Agreement between Gary A. Kreitzer and BioMed
    Realty, L.P. dated as of May 4, 2004.(3)10.14

Contribution Agreement between John F. Wilson, II and
    BioMed Realty, L.P. dated as of May 4, 2004.(3)10.15

Contribution Agreement between Matthew G. McDevitt and BioMed
    Realty, L.P. dated as of May 4, 2004.(3)10.16

Form of Contribution Agreement between the additional
    contributors and BioMed Realty, L.P. dated as of May 4,
    2004.(3)10.17

BioMed Realty 401(k) Retirement Savings Plan.(7)10.18

First Amendment to the BioMed Realty 401(k) Retirement Savings
    Plan.(7)10.19

Second Amendment to the BioMed Realty 401(k) Retirement Savings
    Plan.(7)10.20

Good Faith Amendment to the BioMed Realty 401(k) Retirement
    Savings Plan.(9) 94




---



##### Table of Contents



ExhibitNumber

Description10.21

Third Amendment to the BioMed Realty 401(k) Retirement Savings
    Plan.(9)10.22

Amendment to the BioMed Realty 401(k) Retirement Savings Plan.(5)10.23

Agreement for Purchase of Real Estate, dated as of
    April 15, 2005, between BioMed Realty, L.P. and The Lyme
    Timber Company.(10)10.24

Form of Secured Term Loan Note.(11)10.25

First Amended and Restated Secured Term Loan Agreement, dated as
    of August 1, 2007, by and among BioMed Realty, L.P.,
    KeyBank National Association, as Administrative Agent, and
    certain lenders party thereto.(12)10.26

Form of Line Note under Unsecured Credit Agreement.(11)10.27

Form of Term Note under Unsecured Credit Agreement.(11)10.28

Second Amended and Restated Unsecured Credit Agreement, dated as
    of August 1, 2007, by and among BioMed Realty, L.P.,
    KeyBank National Association, as Administrative Agent, and
    certain lenders party thereto.(12)10.29

Assumption, Consent and Loan Modification Agreement, dated as of
    May 31, 2005, by and among KS Parcel D, LLC, The Lyme
    Timber Company, BioMed Realty Trust, Inc., BMR-500 Kendall
    Street LLC and The Variable Annuity Life Insurance Company.(11)10.30

Promissory Note, dated as of November 21, 2003, to The
    Variable Annuity Life Insurance Company.(11)10.31

Mortgage, Security Agreement, Fixture Filing, Financing
    Statement and Assignment of Leases and Rents, dated as of
    November 21, 2003, in favor of The Variable Annuity Life
    Insurance Company.(11)10.32

Lease, dated as of January 18, 2001, by and between Kendall
    Square, LLC and Vertex Pharmaceuticals Incorporated.(11)10.33

First Amendment to Lease, dated as of May 9, 2002, by and
    between Kendall Square, LLC and Vertex Pharmaceuticals
    Incorporated.(11)10.34

Second Amendment to Lease, dated as of September 16, 2003,
    by and between KS Parcel A, LLC, as successor to Kendall Square,
    LLC, and Vertex Pharmaceuticals Incorporated.(11)10.35

Third Amendment to Lease, dated as of December 22, 2003, by
    and between KS Parcel A, LLC, as successor to Kendall Square,
    LLC, and Vertex Pharmaceuticals Incorporated.(11)10.36

Fourth Amendment to Lease, dated as of September 30, 2004,
    by and between KS Parcel A, LLC, as successor to Kendall Square,
    LLC, and Vertex Pharmaceuticals Incorporated.(11)10.37

Fifth Amendment to Lease, dated as of April 15, 2005, by
    and between KS Parcel A, LLC, as successor to Kendall Square,
    LLC, and Vertex Pharmaceuticals Incorporated.(11)10.38

Sixth Amendment to Lease, dated as of September 23, 2005,
    by and between BMR-675 West Kendall Street LLC, as
    successor to Kendall Square, LLC, and Vertex Pharmaceuticals
    Incorporated.(13)10.39

Seventh Amendment to Lease, dated as of January 23, 2006,
    by and between BMR-675 West Kendall Street LLC, as
    successor to Kendall Square, LLC, and Vertex Pharmaceuticals
    Incorporated.(9)10.40

Lease, dated as of September 17, 1999, by and between
    Trustees of Fort Washington Realty Trust and Vertex
    Pharmaceuticals Incorporated.(11)10.41

Lease, dated March 3, 1995, by and between
    Fort Washington Limited Partnership and Vertex
    Pharmaceuticals Incorporated.(11)10.42

First Amendment to Lease, dated as of December 1996, by and
    between David E. Clem and David M. Roby, as Trustees of
    Fort Washington Realty Trust, and Vertex Pharmaceuticals
    Incorporated.(11)10.43

Second Amendment to Lease, dated as of June 13, 1997, by
    and between David E. Clem and David M. Roby, as Trustees of
    Fort Washington Realty Trust, and Vertex Pharmaceuticals
    Incorporated.(11)10.44

Third Amendment to Lease, dated as of October 1, 1998, by
    and between David E. Clem and David M. Roby, as Trustees of
    Fort Washington Realty Trust, and Vertex Pharmaceuticals
    Incorporated.(11)10.45

Fourth Amendment to Lease, dated as of February 22, 2000,
    by and between David E. Clem and David M. Roby, as Trustees of
    Fort Washington Realty Trust, and Vertex Pharmaceuticals
    Incorporated.(11) 95




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ExhibitNumber

Description10.46

Fifth Amendment to Lease, dated as of May 1, 1999, by and
    between David E. Clem and David M. Roby, as Trustees of
    Fort Washington Realty Trust, and Vertex Pharmaceuticals
    Incorporated.(11)10.47

Sixth Amendment to Lease, dated as of April 6, 2005, by and
    between David E. Clem and David M. Roby, as Trustees of
    Fort Washington Realty Trust, and Vertex Pharmaceuticals
    Incorporated.(11)10.48

Seventh Amendment to Lease, dated as of October 15, 2007,
    by and between BMR-40 Erie Street LLC, as successor to
    Fort Washington Limited Partnership, and Vertex
    Pharmaceuticals Incorporated.(14)10.49

Lease, dated November 14, 2006, between BMR-21 Erie Street
    LLC and Vertex Pharmaceuticals Incorporated.(15)10.50

First Amendment to Lease, dated as of February 28, 2007, by
    and between BMR-21 Erie Street LLC and Vertex Pharmaceuticals
    Incorporated.(14)10.51

Multi-Tenant Industrial Lease, dated as of April 7, 1997,
    by and between AEW/LBA Acquisition Co. II, LLC and Aurora
    Biosciences Corporation.(14)10.52

First Amendment to Multi-Tenant Industrial Lease, dated as of
    September 1, 1997, by and between AEW/LBA Acquisition Co.
    II, LLC and Aurora Biosciences Corporation.(14)10.53

Second Amendment to Multi-Tenant Industrial Lease, dated as of
    August 21, 2007, by and between BMR-Torreyana LLC, as
    successor to AEW/LBA Acquisition Co. II, LLC, and Vertex
    Pharmaceuticals (San Diego) LLC, as successor to Aurora
    Biosciences Corporation.(14)10.54

Agreement of Purchase and Sale, dated as of May 2, 2006,
    between Human Genome Sciences, Inc. and BioMed Realty, L.P.(16)10.55

Lease Agreement, dated as of May 24, 2006, between
    BMR-Belward Campus Drive LSM LLC and Human Genome Sciences,
    Inc.(17)10.56

Lease Agreement, dated as of May 24, 2006, between
    BMR-Shady Grove Road HQ LLC and Human Genome Sciences, Inc.(17)10.57

Secured Bridge Loan Agreement, dated as of May 24, 2006, by
    and among BioMed Realty, L.P., KeyBank National Association, as
    Administrative Agent, and certain lenders party thereto.(17)10.58

Form of Note under Secured Bridge Loan Agreement.(17)10.59

First Amendment to Secured Bridge Loan Agreement, dated as of
    July 5, 2006, by and among BioMed Realty, L.P. and KeyBank
    National Association, individually and as Administrative
    Agent.(18)10.60

Purchase and Sale Agreement, dated as of June 7, 2006,
    between Sun Microsystems, Inc. and BioMed Realty, L.P.(19)10.61

First Amendment to Purchase and Sale Agreement, dated as of
    June 22, 2006, between Sun Microsystems, Inc. and BioMed
    Realty, L.P.(19)10.62

Second Amendment to Purchase and Sale Agreement, dated as of
    June 23, 2006, between Sun Microsystems, Inc. and BioMed
    Realty, L.P.(19)10.63

Registration Rights Agreement, dated September 25, 2006,
    among BioMed Realty Trust, Inc., BioMed Realty, L.P., Credit
    Suisse Securities (USA) LLC and Morgan Stanley & Co.
    Incorporated.(4)10.64

Promissory Note, dated August 23, 2006, by BMR-Shady Grove
    B LLC in favor of KeyBank National Association.(20)10.65

Indemnity Deed of Trust, Assignment of Leases and Rents,
    Security Agreement, and Fixture Filing, dated August 23,
    2006, by BMR-Shady Grove Road HQ LLC in favor of KeyBank
    National Association.(20)10.66

Real Estate Purchase and Sale Agreement, dated as of
    October 20, 2006, among BioMed Realty, L.P., CLSB I,
    LLC and CLSB II, LLC.(21)10.67

First Amendment to Real Estate Purchase and Sale Agreement,
    dated as of November 2, 2006, among BioMed Realty, L.P.,
    CLSB I, LLC and CLSB II, LLC.(22)10.68

Secured Acquisition and Construction Loan Agreement, dated as of
    November 17, 2006, among BMR-Blackfan Circle LLC, KeyBank
    National Association, as Administrative Agent, and certain other
    lenders party thereto.(15)10.69

Promissory Note, dated November 17, 2006, by BMR-Blackfan
    Circle LLC in favor of KeyBank National Association.(15) 96




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ExhibitNumber

Description10.70

Amended and Restated Secured Acquisition and Construction Loan
    Agreement, dated as of December 21, 2006, among
    BMR-Blackfan Circle LLC, KeyBank National Association, as
    Administrative Agent, and certain other lenders party
    thereto.(23)10.71

Purchase and Sale Agreement, dated as of January 29, 2007,
    among Rogers Street, LLC, Lyme/Houston Development I, LP,
    Kendall Square LLC and BioMed Realty, L.P.(5)10.72

First Amendment to Real Estate Purchase and Sale Agreement,
    dated as of February 16, 2007, among Rogers Street, LLC,
    Lyme/Houston Development I, LP, Kendall Square LLC and
    BioMed Realty, L.P.(5)10.73

Purchase and Sale Agreement, dated as of January 29, 2007,
    among SP-K Development, LLC, SP-B1 Development, LLC, SP-A
    Development, LLC, SP-B2 Development, LLC, SP-D Development, LLC,
    SP-E
    Development, LLC, SP-J Development, LLC, 110 Munson Street, LLC,
    SP-C Development, LLC, Lyme Properties LLC and BioMed Realty,
    L.P.(5)10.74

First Amendment to Real Estate Purchase and Sale Agreement,
    dated as of February 16, 2007, among
    SP-K
    Development, LLC, SP-B1 Development, LLC, SP-A Development, LLC,
    SP-B2 Development, LLC, SP-D Development, LLC, SP-E Development,
    LLC, SP-J Development, LLC, 110 Munson Street, LLC, SP-C
    Development, LLC, Lyme Properties LLC and BioMed Realty, L.P.(5)10.75

Second Amendment to Real Estate Purchase and Sale Agreement,
    dated as of April 3, 2007, among SP-K Development, LLC,
    SP-B1 Development, LLC, SP-A Development, LLC, SP-B2
    Development, LLC, SP-D Development, LLC, SP-E Development, LLC,
    SP-J Development, LLC, 110 Munson Street, LLC, SP-C Development,
    LLC, Lyme Properties LLC and BioMed Realty, L.P.(24)10.77

Director Compensation Policy.(25)10.78

Dividend Reinvestment and Stock Purchase Plan.(26)12.1

Ratio of Earnings to Fixed Charges.(27)21.1

List of Subsidiaries of BioMed Realty Trust, Inc.(27)23.1

Consent of KPMG LLP.(27)31.1

Certification of Chief Executive Officer pursuant to
    Section 302 of the Sarbanes-Oxley Act of 2002.(27)31.2

Certification of Chief Financial Officer pursuant to
    Section 302 of the Sarbanes-Oxley Act of 2002.(27)32.1

Certifications of Chief Executive Officer and Chief Financial
    Officer pursuant to 18 U.S.C. Section 1350, as adopted
    pursuant to Section 906 of the Sarbanes-Oxley Act of
    2002.(27)     (1)
    
    Incorporated herein by reference to BioMed Realty Trust,
    Inc.s Quarterly Report on
    Form 10-Q
    filed with the Securities and Exchange Commission on
    September 20, 2004.(2)
    
    Incorporated herein by reference to BioMed Realty Trust,
    Inc.s Registration Statement on
    Form 8-A
    filed with the Securities and Exchange Commission on
    January 17, 2007.(3)
    
    Incorporated herein by reference to BioMed Realty Trust,
    Inc.s Registration Statement of
    Form S-11,
    as amended (File No.
    333-115204),
    filed with the Securities and Exchange Commission on May 5,
    2004.(4)
    
    Incorporated herein by reference to BioMed Realty Trust,
    Inc.s Current Report on
    Form 8-K
    filed with the Securities and Exchange Commission on
    September 26, 2006.(5)
    
    Incorporated herein by reference to BioMed Realty Trust,
    Inc.s Annual Report on
    Form 10-K
    filed with the Securities and Exchange Commission on
    February 28, 2007.(6)
    
    Incorporated herein by reference to BioMed Realty Trust,
    Inc.s Current Report on
    Form 8-K
    filed with the Securities and Exchange Commission on
    January 5, 2007.(7)
    
    Incorporated herein by reference to BioMed Realty Trust,
    Inc.s Current Report on
    Form 8-K
    filed with the Securities and Exchange Commission on
    January 14, 2005.(8)
    
    Incorporated by reference to BioMed Realty Trust, Inc.s
    Current Report on
    Form 8-K
    filed with the Securities and Exchange Commission on
    December 18, 2007.(9)
    
    Incorporated herein by reference to BioMed Realty Trust,
    Inc.s Annual Report on
    Form 10-K
    filed with the Securities and Exchange Commission on
    March 15, 2006. 97




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##### Table of Contents



(10)
    
    Incorporated herein by reference to BioMed Realty Trust,
    Inc.s Current Report on
    Form 8-K
    filed with the Securities and Exchange Commission on
    April 19, 2005.(11)
    
    Incorporated herein by reference to BioMed Realty Trust,
    Inc.s Current Report on
    Form 8-K
    filed with the Securities and Exchange Commission on
    June 3, 2005.(12)
    
    Incorporated by reference to BioMed Realty Trust, Inc.s
    Current Report on
    Form 8-K
    filed with the Securities and Exchange Commission on
    August 7, 2007.(13)
    
    Incorporated herein by reference to BioMed Realty Trust,
    Inc.s Current Report on
    Form 8-K
    filed with the Securities and Exchange Commission on
    September 29, 2005.(14)
    
    Incorporated herein by reference to BioMed Realty Trust,
    Inc.s Quarterly Report on
    Form 10-Q
    filed with the Securities and Exchange Commission on
    November 8, 2007.(15)
    
    Incorporated herein by reference to BioMed Realty Trust,
    Inc.s Current Report on
    Form 8-K
    filed with the Securities and Exchange Commission on
    November 20, 2006.(16)
    
    Incorporated herein by reference to BioMed Realty Trust,
    Inc.s Current Report on
    Form 8-K
    filed with the Securities and Exchange Commission on May 5,
    2006.(17)
    
    Incorporated herein by reference to BioMed Realty Trust,
    Inc.s Current Report on
    Form 8-K
    filed with the Securities and Exchange Commission on
    May 26, 2006.(18)
    
    Incorporated herein by reference to BioMed Realty Trust,
    Inc.s Quarterly Report on
    Form 10-Q
    filed with the Securities and Exchange Commission on
    August 8, 2006.(19)
    
    Incorporated herein by reference to BioMed Realty Trust,
    Inc.s Current Report on
    Form 8-K
    filed with the Securities and Exchange Commission on
    July 17, 2006.(20)
    
    Incorporated herein by reference to BioMed Realty Trust,
    Inc.s Current Report on
    Form 8-K
    filed with the Securities and Exchange Commission on
    August 28, 2006.(21)
    
    Incorporated herein by reference to BioMed Realty Trust,
    Inc.s Current Report on
    Form 8-K
    filed with the Securities and Exchange Commission on
    October 24, 2006.(22)
    
    Incorporated herein by reference to BioMed Realty Trust,
    Inc.s Quarterly Report on
    Form 10-Q
    filed with the Securities and Exchange Commission on
    November 8, 2006.(23)
    
    Incorporated herein by reference to BioMed Realty Trust,
    Inc.s Current Report on
    Form 8-K
    filed with the Securities and Exchange Commission on
    December 28, 2006.(24)
    
    Incorporated herein by reference to BioMed Realty Trust,
    Inc.s Quarterly Report on
    Form 10-Q
    filed with the Securities and Exchange Commission on May 4,
    2007.(25)
    
    Incorporated by reference to BioMed Realty Trust, Inc.s
    Current Report on
    Form 8-K
    filed with the Securities and Exchange Commission on
    February 6, 2007.(26)
    
    Incorporated herein by reference to BioMed Realty Trust,
    Inc.s Registration Statement on
    Form S-3
    (File
    No. 333-143658),
    filed with the Securities and Exchange Commission on
    June 11, 2007.(27)
    
    Filed herewith. 98




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SIGNATURES
      /s/  ALAN
    D. GOLD       KENT
    GRIFFIN
      GREG
    N. LUBUSHKIN
          Signature

Title

Date/s/  BARBARA
    R. CAMBONBarbara
    R. Cambon

Director

February 28, 2008/s/  EDWARD
    A. DENNISEdward
    A. Dennis

Director

February 28, 2008/s/  RICHARD
    I. GILCHRISTRichard
    I. Gilchrist

Director

February 28, 2008/s/  GARY
    A. KREITZERGary
    A. Kreitzer

Executive Vice President, General Counsel, Secretary and Director

February 28, 2008/s/  MARK
    J. RIEDYMark
    J. Riedy

Director

February 28, 2008/s/  THEODORE
    D. ROTHTheodore
    D. Roth

Director

February 28, 2008/s/  M.
    FAYE WILSONM.
    Faye Wilson

Director

February 28, 2008  99