Commercial, Commercial, Solar  -  October 26, 2023

BioMed Realty Increases RE, Energy Efficiency Projects

BioMed Realty, a provider of real estate solutions to the life science and technology industries, increased renewable electricity across the company's operating portfolio, including onsite hosted solar power that will supply renewable electricity across some California assets in the Bay Area and San Diego markets with commercial operation beginning in 2025.

The company also implemented 175 energy-efficiency projects since 2016, including replacing HVAC cooling towers and implementing LED retrofits. These projects have saved over 38.7 million kWh of electricity.

BioMed Realty also collaborated with tenants to pursue sustainable development, including Takeda Pharmaceuticals to target Leadership in Energy and Environmental Design (LEED) Gold and WELL Gold certifications at 585 Kendall in Cambridge, Massachusetts — an asset under development which is fully leased to Takeda.

Within BioMed Realty’s U.S. operating portfolio of 15.2 million square feet as of June 30, 2023, 32 percent is LEED-certified. Of the 18.3 million square feet across the company’s operating portfolio and in-process developments in the U.S., 42 percent will be LEED certified.

BioMed Realty is a portfolio company within Blackstone’s Core+ Life Sciences Real Estate strategy, which achieved a 5 Star Rating in the 2023 GRESB Real Estate Assessment. The GRESB Real Estate Assessment is an ESG benchmark for real estate and infrastructure investments.

“The GRESB 5 Star Rating reflects BioMed Realty’s commitment to maintaining assets that cater to the needs of our tenants and local communities both now and in the future,” said Tim Schoen, CEO of BioMed Realty, in a statement. “Investors and tenants are increasingly demonstrating a preference for sustainable buildings, and BioMed Realty’s ESG initiatives will continue to set our portfolio and Company apart. We are honored to be recognized as an ESG leader in our industry.”

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