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The Life Science sector is considered a newer REIT category that is somewhat of a hybrid between office and health care. The unique characteristics of the Life Science REITs revolve around the mission-critical nature of lab space and the stability of the leases driven by the limited availability of competing space.

There are only two "pure play" Life Science REITs today, and a few weeks ago, I wrote an article on Alexandria Real Estate Equities (ARE), and in this article, I plan to focus on the other pure play REIT: BioMed Realty Trust Inc. (BMR).

Before I start with BioMed, however, I want to provide some high-level insight into the Life Science Industry - a...

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