Deal Details
Alexandria Completes $1.1 Billion Follow-On Offering
Summary
Alexandria Real Estate Equities, Inc. (“Alexandria” or the “Company”) (NYSE: ARE) recently completed an upsized follow-on offering of 6,900,000 shares of common stock at a price of $164.00 per share, generating gross proceeds of approximately $1.1 billion. The Company expects to use the net proceeds to fund pending acquisitions, including 401 Park Drive, 201 Brookline Avenue and a related future development opportunity in the heart of the Company’s Greater Boston life science cluster market. Any remaining proceeds are expected to be used for general working capital and other corporate purposes, which may include the reduction of the outstanding balance, if any, on the Company’s unsecured senior line of credit and the outstanding indebtedness, if any, under the Company’s commercial paper program.
Baird served as a co-manager on this offering.
About
Alexandria, an S&P 500® urban office real estate investment trust, is the first, longest-tenured and pioneering owner, operator and developer uniquely focused on collaborative life science, technology and agtech campuses in AAA innovation cluster locations. Founded in 1994, Alexandria pioneered this niche and has since established a significant market presence in key locations, including Greater Boston, San Francisco, New York City, San Diego, Seattle, Maryland and Research Triangle.CONTACT US TO LEARN MORE
- Date
- January 2021
- Company
- Alexandria Real Estate Equities, Inc.
- Transaction
- Equity Capital Markets
- Sectors
- Real Estate
- Target Geography
- North America
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