SAN DIEGO—Shareholders in BioMed Realty Trust on Thursday the Blackstone Group’s $8-billion privatization of the life sciences REIT. BMR expects the deal to close this coming Tuesday, after which its shares will cease trading on the New York Stock Exchange.

When the deal with affiliates of Blackstone Real Estate Partners VIII was announced this past October, BMR’s chairman, president and CEO, Alan Gold, commented that although “demand for high-quality, institutional real estate to support the unprecedented growth of the life science industry is at historic levels,” the company believed “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.”

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