Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P
500® company, is a best-in-class, mission-driven life science
REIT making a positive and lasting impact on the world. As the pioneer of the
life science real estate niche since our founding in 1994, Alexandria is the
preeminent and longest-tenured owner, operator, and developer of collaborative
life science mega campuses in AAA innovation cluster locations, including
Greater Boston, the San Francisco Bay Area, San Diego, Seattle, Maryland,
Research Triangle, and New York City. Alexandria has a total market
capitalization of $34.4 billion and an asset base in North America of 74.1
million SF as of March 31, 2024, which includes 42.2 million RSF of operating
properties, 5.3 million RSF of Class A/A+ properties undergoing construction and
one near-term project expected to commence construction in the next two years,
2.5 million RSF of priority anticipated development and redevelopment projects,
and 24.1 million SF of future development projects. Alexandria has a
longstanding and proven track record of developing Class A/A+ properties
clustered in life science mega campuses that provide our innovative tenants with
highly dynamic and collaborative environments that enhance their ability to
successfully recruit and retain world-class talent and inspire productivity,
efficiency, creativity, and success. Alexandria also provides strategic capital
to transformative life science companies through our venture capital platform.
We believe our unique business model and diligent underwriting ensure a
high-quality and diverse tenant base that results in higher occupancy levels,
longer lease terms, higher rental income, higher returns, and greater long-term
asset value.
Highlights (as of March
31, 2024)
Strong and flexible balance sheet
- Significant
liquidity of $6.0 billion
- 32% of our
total debt matures in 2049 and beyond
- 13.4 years
weighted-average
remaining debt term
Operating asset base
- 42.2 million
RSF of operating
properties with solid occupancy across key
locations of 94.6%
Visible, multiyear, highly leased
value-creation
pipeline
- Delivered
incremental annual net operating income of
$26 million commencing during 1Q24 and will
drive future incremental annual net
operating income aggregating $480 million
Strong core operating metrics
- Favorable
triple net lease
structure with annual rent escalations
REIT industry-leading client base of
approximately 800 tenants
- High-quality
and diverse tenant mix drives stable,
resilient, and long-duration cash flows
Mission-critical infrastructure
-
Generic, reusable, re-leasable,
and valuable laboratory improvements
-
High barriers to exit given
significant investment by tenants coupled
with FDA requirements
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Financial Information
Alexandria Real Estate Equities is a Real Estate
Investment Trust
(REIT) with strong cash flow and an investment-grade
balance sheet
capitalizing on the long-term growth potential of
the life science
industry.
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