Company Overview

Company Overview

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 committed 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

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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