Alexandria Real Estate (ARE) prices $700 million senior note offering.

Alexandria Real Estate Equities, Inc. (ARE) announced today that has priced a public offering of $700 million 4.90% senior unsecured notes due 2030.  Citigroup, BofA Securities, Goldman Sachs, and J.P. Morgan are acting as joint book-running managers.  The company said that proceeds from the note offering would be used to reduce revolving credit and commercial paper borrowings.

Founded in 1974, Alexandria Real Estate Equities, Inc. (ARE) is an office REIT specializing in the management and development of Class-A life science and technology properties in urban locations.  ARE has an undepreciated book value of approximately $19.7 billion and is a member of the S&P 500.