Alexandria's
investment-grade credit ratings, which rank in the top 10% among
all publicly traded U.S. REITs, coupled with its
Labspace® market leadership and world-class brand,
position the company well to execute on its multifaceted,
mission-driven life science real estate platform
PASADENA, Calif., Oct. 5, 2023
/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 announced that Moody's Investors Service has
affirmed the company's credit ratings, including its issuer and
senior unsecured debt ratings, of Baa1. The rating outlook remains
stable.
![(PRNewsfoto/Alexandria Real Estate Equities, Inc.) (PRNewsfoto/Alexandria Real Estate Equities, Inc.)](https://mma.prnewswire.com/media/1930628/Alexandria_Real_Estate_Equities_Logo_v1.jpg)
"Moody's affirmations of our corporate credit ratings and
outlook, which come on the heels of S&P Global Ratings' recent
affirmation, further reinforce our exceptional credit profile,"
said Marc E. Binda, chief financial
officer and treasurer of Alexandria Real Estate Equities, Inc. "We
are very proud of our best-in-class team's disciplined and
strategic efforts to build and enhance a fortress balance sheet
that provides us flexibility to execute on our unique business
model and enable our tenants' tireless work to advance innovation
to improve human health."
These rating affirmations reflect Alexandria's consistently solid operating and
financial performance, excellent liquidity position with
$6.3 billion in liquidity as of
June 30, 2023 and REIT industry
position as a leading owner of laboratory infrastructure clustered
in key life science markets across the
United States. They also attest to Alexandria's Labspace® market
leadership, as supported by the excellent quality of its asset
base, its long track record of sustaining high occupancy levels and
its solid net operating income growth through various market
cycles.
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 $30.6 billion and
an asset base in North America of
74.9 million SF as of June 30, 2023,
which includes 41.1 million RSF of operating properties and 5.3
million RSF of Class A/A+ properties undergoing construction, 9.4
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. 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.