Alexandria Real Estate prices $750 million senior notes offering

Alexandria Real Estate Equities Inc. (NYSE: ARE) announced it has priced a public offering of $750 million aggregate principal amount of 5.25% senior notes due 2036.

The notes were priced at 99.679% of the principal amount with a yield to maturity of 5.291%. The notes will be unsecured obligations of the company and fully guaranteed by Alexandria Real Estate Equities, L.P., an indirectly 100% owned subsidiary. The closing of the sale is expected to occur on or about February 25, 2026, subject to customary closing conditions.

The company plans to use the net proceeds to repay a portion of borrowings under its commercial paper program incurred in connection with the repurchase or redemption of certain series of its outstanding senior unsecured notes pursuant to its previously announced cash tender offer. The tender offer involves a purchase price of $952.2 million excluding accrued interest.

Citigroup Global Markets Inc., BofA Securities Inc., and J.P. Morgan Securities LLC are serving as joint book-running managers for the offering, along with Scotia Capital (USA) Inc. and TD Securities (USA) LLC. Additional firms including Barclays Capital Inc., Goldman Sachs & Co. LLC, and RBC Capital Markets LLC are acting as co-managers.

The notes are being offered pursuant to an effective registration statement on Form S-3 previously filed with the Securities and Exchange Commission. The completion of the notes offering is not conditioned on the completion of the tender offer.

Alexandria Real Estate Equities is a life science real estate investment trust that owns and operates properties in locations including Greater Boston, the San Francisco Bay Area, San Diego, Seattle, Maryland, Research Triangle, and New York City.

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