Existing BioMed investors completed the acquisition of BioMed Realty, a self-advised real estate investment trust, from Blackstone Real Estate Partners, a provider of investment management and advisory services, for $14.6bn. The recapitalization is expected to close within five business days of the conclusion of the “go-shop” process. “Together with Blackstone, we have created a coveted portfolio in one of the most sought-after real estate asset classes. Our sector continues to prove its resiliency, and now is the logical time to seek long-term capital. This partnership structure and Blackstone’s ongoing support enable us to advance our mission, which is to make concentrated investments in core markets to support the growth of the life science and technology industries," Tim Schoen, BioMed Realty President and CEO.