PASADENA, Calif., Feb. 2, 2023
/PRNewswire/ -- Alexandria Real Estate Equities, Inc.
("Alexandria" or the "Company")
(NYSE: ARE) today announced that it is commencing an underwritten
public offering, subject to market conditions, of two tranches of
senior notes (the "notes"). Goldman Sachs & Co. LLC, BofA
Securities, Inc., Citigroup Global Markets Inc. and RBC Capital
Markets, LLC will act as joint book-running managers in connection
with the public offering. The notes will be unsecured obligations
of the Company and fully and unconditionally guaranteed by
Alexandria Real Estate Equities, L.P., an indirectly 100% owned
subsidiary of the Company.
The Company expects the net proceeds from the first tranche in
this offering will be used initially for general corporate
purposes, which may include the reduction of the outstanding
balance, if any, on the Company's unsecured senior line of credit,
the reduction of the outstanding indebtedness, if any, under the
Company's commercial paper program, the repayment of other debt and
the selective development, redevelopment or acquisition of
properties. In addition, following the initial allocation of the
net proceeds described above, the Company intends to allocate an
amount equal to the net proceeds from the first tranche to fund, in
whole or in part, recently completed and future eligible green
projects, which are defined as certain development, redevelopment
or tenant improvement projects that have received or are expected
to receive Gold or Platinum LEED certification, including the
development and redevelopment of such projects. The net proceeds
from the second tranche in this offering will be used for general
working capital and other general corporate purposes, which may
include the reduction of the outstanding balance, if any, on the
Company's unsecured senior line of credit, the reduction of the
outstanding indebtedness, if any, under the Company's commercial
paper program, the repayment of other debt and the selective
development, redevelopment or acquisition of properties.
The notes are being offered pursuant to an effective
registration statement on Form S-3 that was previously filed with
the Securities and Exchange Commission. This press release does not
constitute an offer to sell or the solicitation of an offer to buy
any of the Company's notes, nor shall there be any sale of the
notes in any state in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the
securities laws of any such state.
Copies of the prospectus supplement relating to this offering,
when available, may be obtained by contacting: Goldman Sachs &
Co. LLC, Attn: Prospectus Department, at 200 West Street,
New York, NY 10282, by telephone
at (866) 471-2526, by fax at (212) 902-9316 or by email at
prospectus-ny@ny.email.gs.com; BofA Securities, Inc.,
NC1-004-03-43, Attn: Prospectus Department, at 200 North College
Street, 3rd Floor, Charlotte, NC
28255-0001 or by email at dg.prospectus_requests@bofa.com;
Citigroup Global Markets Inc., Attn: Broadridge Financial
Solutions, at 1155 Long Island Avenue, Edgewood, NY 11717, by toll-free telephone at
(800) 831-9146 or by email at prospectus@citi.com; or RBC Capital
Markets, LLC, Attn: Syndicate Operations, at 200 Vesey Street, 8th
Floor, New York, NY 10281, by
toll-free telephone at (866) 375-6829, by fax at (212) 428-6308 or
by email at rbcnyfixedincomeprospectus@rbccm.com.
Alexandria, 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
its founding in 1994, Alexandria
is the preeminent and longest-tenured owner, operator, and
developer of collaborative life science, agtech and technology
campuses in AAA innovation cluster locations, including
Greater Boston, the San Francisco Bay Area, New York City, San
Diego, Seattle,
Maryland and Research
Triangle.
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 Company's offering of the
notes and its intended use of the proceeds. These forward-looking
statements are based on the Company'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 the Company'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 the
Company 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 the
Company's forward-looking statements, and risks and uncertainties
to the Company's business in general, please refer to the Company'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, Vice President – Strategic Communications, (626)
788-5578, skabakoff@are.com
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SOURCE Alexandria Real Estate Equities, Inc.