Deal Details
Follow-On Offering
Summary
Baird served as a co-manager on this offering.
About
Alexandria Real Estate Equities, Inc. (“Alexandria” or the “Company”) (NYSE: ARE) recently completed a follow-on offering of 7,475,000 shares of common stock for total estimated gross proceeds of approximately $755.0 million, including the exercise of the over-allotment option. Alexandria intends to use the net proceeds from the offering to fund property acquisitions, fund development projects, and for general corporate purposes.Alexandria is a real estate investment trust focused principally on the ownership, operation, management, acquisition, conversion, retrofit, expansion and selective development and redevelopment of properties containing office/laboratory space. These properties are designed and improved for lease primarily to pharmaceutical, biotechnology, diagnostic, product and service companies, not-for-profit scientific research institutions, universities, related government agencies and technology enterprises (all primarily related to fields of the life science industry). The current portfolio and future capital projects are concentrated and will focus on primary life science cluster markets including San Diego, Boston/Cambridge, San Francisco and Seattle. The Company is headquartered in Pasadena, California.
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- Date
- July 2016
- Company
- Alexandria Real Estate Equities, Inc.
- Transaction
- M&A
- Sectors
- Real Estate
- Target Geography
- North America
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