Alexandria Real Estate (ARE) prices $1.8 billion senior note offering.

Alexandria Real Estate Equities, Inc. (ARE) said that it has priced a $1.8 billion two-part offering of senior unsecured notes.  The offering included:

• • • • $800 million 2.950% senior unsecured notes due 2034.  The notes were priced to yield 2.980% or +120 basis points to the treasury curve.
      • $1.0 billion 3.550% senior unsecured notes due 2052.  The notes were priced to yield 3.573% or +145 basis points to the treasury curve.

Founded in 1994, Alexandria specializes in the management and development of Class-A life science and technology properties in urban locations. The company's largest markets include the Boston metro region (36%), San Francisco (24%), San Diego (16%), Seattle (6%), and Maryland (6%).  As of December 31, 2021, the portfolio included 414 properties with 43.7 million square feet and was 94.0% occupied. ARE has a total market capitalization of approximately $44 billion and is a member of the S&P 500.

02/03/2022