PASADENA, Calif., Jan. 5, 2024
/PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE),
the first, preeminent, longest-tenured and pioneering owner,
operator and developer of collaborative life science, agtech and
advanced technology mega campuses in AAA innovation cluster
locations, today celebrates the 30th anniversary of its
one-of-a-kind, once-in-a-generation company. Alexandria pioneered the novel
Labspace® niche and created the first-ever REIT uniquely
focused on the critically important life science industry with its
founding on January 5, 1994. Over the
past three decades, the company has transformed life science real
estate from a specialty niche to a compelling mainstream asset
class, and it remains the only publicly traded pure-play life
science REIT.
"We are grateful and humbled to celebrate the 30th anniversary
of Alexandria's founding — a truly
monumental milestone that is a testament to our stellar family
team's operational excellence and dedication to our mission-driven
business. It is remarkable to reflect on our astounding growth,
from our start in basement offices at Jacobs Engineering to our
success in creating an irreplaceable life science real estate
platform that dominates the asset class we pioneered," said
Joel S. Marcus, executive chairman
and founder of Alexandria Real Estate Equities, Inc./Alexandria
Venture Investments. "Thirty years ago, we saw the remarkable early
potential of the life science industry, and today we are honored to
be the trusted partner to leaders in this secularly growing
industry who rely on our essential Labspace assets to advance and
help safeguard their mission-critical work on truly groundbreaking
therapies and cures. With over 10,000 diseases known to humankind,
nearly 90% of which have no approved treatments, the incredible
innovation taking place within our Labspace facilities is and will
remain a national imperative. We are immensely proud, as
Jim Collins has said, to have
'achieved the three outputs that define a great company: Superior
Results, Distinctive Impact and Lasting Endurance,' and we will
continue to build upon these outputs to transition the company into
the next generation."
Alexandria's superior results
have been accelerated by its first-mover advantage in the top life
science clusters, high-quality Labspace assets aggregated in
desirable mega campuses, longstanding tenant relationships and
highly experienced team with deep life science expertise. The
company's execution of its multifaceted platform of internal and
external growth continues to generate outstanding long-term total
stockholder return (TSR). From its IPO in May 1997 through December
31, 2023, Alexandria has
generated a TSR of 1,512%, significantly outperforming major
indices over the same period, including the FTSE Nareit Equity
Health Care Index's TSR of 980% and the MSCI US REIT Index's TSR of
792% (assuming reinvestment of dividends). Additionally,
Alexandria's growth and sustained
performance are supported by its fortress balance sheet with no
debt maturities prior to 2025, 99.0% of debt at fixed rates, credit
ratings ranking among the top 10% of all publicly traded U.S. REITs
and significant liquidity of $5.9
billion as of September 30,
2023.
For 30 years, Alexandria has
been making a distinctive impact as the leader in delivering the
complex laboratory infrastructure and fostering the holistic
ecosystems needed to enable innovation to advance life-changing
treatments and cures. Half of all FDA-approved therapies since 2013
have come from Alexandria's
tenants, demonstrating the company's meaningful impact on human
health. Alexandria is committed to
partnering on endeavors that aim to better manage disease and
reduce its economic burden on society, including by addressing two
of the country's most prevalent and complex public health issues —
addiction and mental health — through its social responsibility
pillars. According to CDC data, more than 110,000 people died from
drug overdoses in the United
States in 2022, and suicide deaths reached an all-time high
of nearly 49,500. In the face of the opioid epidemic in 2017,
Alexandria partnered with Verily
to pioneer OneFifteen, a personalized, data-driven care model for
treating addiction, in Dayton,
Ohio — a city with one of the highest per capita overdose
death rates in the nation that year. Alexandria designed and
developed a state-of-the-art campus with a full continuum of care,
including medication-assisted treatment, residential housing, peer
support and job placement. OneFifteen has treated over 7,500
patients since opening four years ago. Alexandria has also been partnering with the
Navy SEAL Foundation since 2010, enabling the foundation to address
the increasing need for specialized physical and mental health
programs for Naval Special Warfare personnel and their families.
Alexandria is supporting the
foundation's new, cutting-edge Warrior Fitness Program West Coast
facility in San Diego. The
holistic facility provides Navy SEAL warriors and veterans with
evidence-based support, advanced technology resources and expert
personnel to help them physically and mentally recover and rebuild
from injuries and trauma, as well as transition to civilian
life.
Alexandria was founded on the
belief that life science companies are most successful when
positioned in the epicenter of top innovation ecosystems proximate
to world-renowned academic medical institutions, deep specialized
talent and ample risk capital. This belief shaped its cluster
model, which it has applied to the life science industry in a
disciplined manner to drive the company's lasting endurance. Since
1994, Alexandria has strategically
and methodically created the highest-quality life science asset
base primarily concentrated in high-barrier-to-entry markets and
built the leading life science infrastructure platform. As of
September 30, 2023, Alexandria has the strategic optionality to
almost double the size of its asset base from 41.5 million RSF of
operating properties to 75.1 million SF with assets on balance
sheet to continue to meet the unique needs of the vital and
secularly growing life science industry.
About Alexandria Real Estate
Equities, Inc.
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, agtech and advanced technology mega
campuses in AAA innovation cluster locations, including
Greater Boston, the San Francisco Bay Area, New York City, San
Diego, Seattle,
Maryland and Research Triangle.
Alexandria has a total market
capitalization of $28.3 billion and
an asset base in North America of
75.1 million SF as of September 30,
2023, which includes 41.5 million RSF of operating
properties and 5.6 million RSF of Class A/A+ properties undergoing
construction, 8.9 million RSF of near-term and intermediate-term
development and redevelopment projects and 19.1 million SF of
future development projects. Alexandria has a longstanding and proven track
record of developing Class A/A+ properties clustered in life
science, agtech and advanced technology 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,
agrifoodtech, climate innovation and technology 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. For more information on Alexandria, please visit www.are.com.
Forward-Looking Statements
This press release includes "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Such forward-looking statements include, without limitation,
statements regarding the impact of Alexandria's facilities on the advancement of
medicines and treatments; Alexandria's achievement of superior results,
distinctive impact and lasting endurance; Alexandria's growth, sustained performance and
generation of long-term total stockholder return; the impact of
Alexandria's social responsibility
initiatives, practices, investments and partnerships on societal
issues; the likelihood of continued efforts by Alexandria with respect to such initiatives;
and the ability of Alexandria to
meet the needs of the life science industry. These forward-looking
statements are based on Alexandria's present intent, beliefs or
expectations, but forward-looking statements are not guaranteed to
occur and may not occur. Actual results may differ materially from
those contained in or implied by Alexandria's forward-looking statements as a
result of a variety of factors, including, without limitation, the
risks and uncertainties detailed in its filings with the Securities
and Exchange Commission. All forward-looking statements are made as
of the date of this press release, and Alexandria assumes no obligation to update
this information. For more discussion relating to risks and
uncertainties that could cause actual results to differ materially
from those anticipated in Alexandria's forward-looking statements, and
risks and uncertainties to Alexandria's business in general, please refer
to Alexandria's filings with the
Securities and Exchange Commission, including its most recent
annual report on Form 10-K and any subsequently filed quarterly
reports on Form 10-Q.
CONTACT: Sara Kabakoff, Senior Vice
President – Chief Content Officer, (626) 788-5578,
skabakoff@are.com
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SOURCE Alexandria Real Estate Equities, Inc.