Alexandria Real Estate Equities, Inc. Celebrates 30 Years at the Vanguard and Heart of the $5 Trillion Secularly Growing Life Science Industry
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
View original content to download multimedia:https://www.prnewswire.com/news-releases/alexandria-real-estate-equities-inc-celebrates-30-years-at-the-vanguard-and-heart-of-the-5-trillion-secularly-growing-life-science-industry-302026783.html
SOURCE Alexandria Real Estate Equities, Inc.
