BioMed Realty knows its niche. A self-administered real estate investment trust (REIT), the firm acquires, develops, leases, and manages laboratory and office space for biotechnology and pharmaceutical companies, scientific research institutions, government agencies, and other life science tenants. BioMed owns more than 80 properties with around 185 buildings and more than 16 million sq. ft. of rentable space. The REIT's properties, which span about a dozen states, are often located near universities; its preferred markets include research and development hubs such as Boston, New York, San Diego, San Francisco, and Seattle. Private-equity giant Blackstone Group acquired BioMed for $4.8 billion in early 2016.