Blackstone Group acquired BioMed Realty Trust, which invests in the highest quality institutional real estate to meet the needs of the growing demand across the life science industry, for $8bn. Commenting on the acquisition, Alan D. Gold, Chairman, President and Chief Executive Officer of BioMed Realty said, "Demand for high-quality, institutional real estate to support the unprecedented growth of the life science industry is at historic levels as demand is outpacing supply in all of our core innovation districts. However, we believe that the public markets are not adequately valuing our assets and proven business model. Entering into this transaction with Blackstone fulfills our Board of Directors' mission to maximize stockholder value."