About the Company
Alexandria Real Estate Equities, Inc. is an investment trust headquartered in Pasadena, California that primarily invests in laboratories leased to tenants in technological or life science industries and office buildings. It also umbrellas Alexandria Venture Investments, a venture capitalist firm that invests in life science-related businesses.
ARE began its journey as a garage start-up in 1994, with the aim to create a real estate company that solely focuses on the life science industry. Its name “Alexandria” was coined after the Egyptian city with the same name, owing to its connection with science.
As of 2020, it is one of the industry leaders in terms of developing, operating and owning life science, AgTech, and technology campuses that are both dynamic and collaborative. The cluster locations where these properties are located are all key urban areas, contributing to the development of these campuses.
These locations include Seattle, Greater Boston, San Diego, Maryland, Research Triangle, San Francisco Bay Area and New York City. By the end of 2019, Alexandria had invested or owned 290 properties and development projects, summing up to a total of 39.2 million square feet.
The company’s first purchase was in San Diego, where it bought four buildings, and within three years from that, became public by listing under the New York Stock Exchange under the symbol ARE. It managed to raise $155 million with its debut, and on 31st July 2020, Alexandria share prices reached $177.55, their highest ever.
In 2002, the company launched its first proprietary product designed for science companies in their nascent stage called Science Hotel. Over the course of next eight years, the company co-found Alexandria Corporations, purchased premier technology and life science campus in Cambridge, acquired Veralliance Properties’ key personnel and strategic facilities and started Alexandria Centre, New York’s first and only life science theme park.
In April 2011, ARE hosted its first-ever Alexandria Summit, and in July was rated Baa2/BBB- by two major rating agencies. It won the Nareit Investment CARE (Communication and Reporting Excellence) Gold Awards for two consecutive years (2015 and 2016) under the Large Cap Equity REIT category. The company got enlisted in the S&P 500 index in 2017, and two years after that was named the 2019 NAOPA of the year.
Among its acquisitions, the two that stand out are an office building leased to Amazon.com in Seattle, and the headquarter of Pfizer in 219 East 42nd Street in a leaseback transaction.;
Organisation | Alexandria Real Estate Equities Inc |
Industry | REIT—Office |
HeadQuarters | Pasadena, CA |