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BALTIMORE-Ownership of two combination office and laboratory buildings totaling 168,800 sf has changed hands in a recent $25.4 million transaction. San Diego-based BioMed Realty Trust Inc. purchased the properties from Guilford Pharmaceuticals, which has agreed to lease the space from BioMed under a long-term sale/leaseback agreement.

The two offices carry the addresses of 6611 Tributary St. and 6411 Beckley St., and were developed in 1989 and 1999, respectively. Together, the properties have a total current assessed value of approximately $11.6 million.

The deal leaves Guilford with net proceeds of $19.4 million, which the company plans to use for general corporate purposes. As for BioMed, the purchase holds a great deal of significance. “This transaction represents the company’s entry into the Maryland market, the fifth largest life science market in the US,” BioMed vice president of acquisitions Matthew G. McDevitt notes.

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