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Alexandria Real Estate Equities

Logo: https://www.are.com/, Non-free logo, via Wikipedia4

American real estate company

Alexandria Real Estate Equities, Inc. is a real estate investment trust based in Pasadena, California that invests in office buildings and laboratories leased to tenants in the life science and technology industries.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

Jan 1, 1994Founded1

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  • TickerARE on NYSE1
  • Industryreal estate investment trust1
  • HeadquartersPasadena1
  • Websitewww.are.com
  • Incorporated inMD5
  • Business address26 North Euclid Avenue, Pasadena, Ca 911015
  • Filer categoryLarge accelerated filer5

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Alexandria Real Estate Equities, Inc. is a real estate investment trust based in Pasadena, California that invests in office buildings and laboratories leased to tenants in the life science and technology industries. Properties are generally located near universities to attract tenants. The company owns several major technology/biotechnology office campuses including the 740,972 square foot Alexandria Center for Life Science in Manhattan, and the 2,365,487 square foot Alexandria Center at Kendall Square and the 1,181,635 square foot Technology Square (Cambridge, Massachusetts) in the Boston area.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-47.2%Net margin7
-2.9%Revenue growth, 20257
-9.2%Return on equity7
0.80×Debt to equity7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Income From Rentals brought in 49% of the revenue Alexandria Real Estate Equities broke down this way in fiscal 2025.

  1. Income From Rentals$2.9B749%down 3% from 2024
  2. Income from rentals$2.9B749%down 3% from 2024
  3. Product and Service, Other$81.4M71%up 22% from 2024
Products and services by year
Products and services202320242025
Income From Rentals$2.8B$3.0B$2.9B
Income from rentals$2.8B$3.0B$2.9B
Product and Service, Other$43.2M$66.7M$81.4M

Business segments

Reportable Segment, Aggregation before Other Operating brought in 94% of the revenue Alexandria Real Estate Equities broke down this way in fiscal 2025.

  1. Reportable Segment, Aggregation before Other Operating$2.8B794%down 3% from 2024
  2. Other Operating$191.3M76%up 1% from 2024
Business segments by year
Business segments202320242025
Reportable Segment, Aggregation before Other Operating$2.7B$2.9B$2.8B
Other Operating$179.3M$188.8M$191.3M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs93¢$2.8B
  • Interest7¢$226.7M

Out of $3.0B in revenue.7 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid64¢$911.5M
  • Share buybacks15¢$208.2M
  • Kept or used elsewhere21¢$294.4M

Out of $1.4B of cash from operations.7

Financial statements

Revenue8910117$3.0B in 2025+98% since 2019
0$1.0B$2.0B$3.0B$4.0B2019: $1.5B$1.5B20192020: $1.9B$1.9B2020+23%2021: $2.1B$2.1B2021+12%2022: $2.6B$2.6B2022+22%2023: $2.9B$2.9B2023+11%2024: $3.1B$3.1B2024+8%2025: $3.0B$3.0B2025−3%
Net income8910117-$1.4B in 2025
-$2.0B-$1.0B0$1.0B2019: $363.2M$363.2M20192020: $771.0M$771.0M2020+112%2021: $571.2M$571.2M2021−26%2022: $521.7M$521.7M2022−9%2023: $103.6M$103.6M2023−80%2024: $322.9M$322.9M2024+212%2025: -$1.4B-$1.4B2025

Every line of the income statement in the latest annual report, as filed.7

Period ending2025-12-312024-12-312023-12-31
Total revenues$3.0B$3.1B$2.9B
Rental operations$922.6M$909.3M$859.2M
General and administrative$117.0M$168.4M$199.4M
Interest$226.7M$185.8M$74.2M
Depreciation and amortization$1.4B$1.2B$1.1B
Impairment of real estate$2.2B$223.1M$461.1M
Loss on early extinguishment of debt$107.0K$0$0
Total expenses$4.8B$2.7B$2.7B
Equity in (losses) earnings of unconsolidated real estate joint ventures-$9.6M$7.1M$980.0K
Investment loss-$56.3M-$53.1M-$195.4M
Gain on sales of real estate$642.4M$129.3M$277.0M
Net (loss) income-$1.2B$510.7M$281.0M
Net income attributable to noncontrolling interests-$212.8M-$187.8M-$177.4M
Net (loss) income attributable to Alexandria Real Estate Equities, Inc.s stockholders-$1.4B$322.9M$103.6M
Net income attributable to unvested RSAs with nonforfeitable dividends-$8.4M-$13.4M-$11.2M
Net (loss) income attributable to Alexandria Real Estate Equities, Inc.s common stockholders-$1.4B$309.6M$92.4M
Earnings per share - basic (USD per share)-$8.44$1.80$0.54
Earnings per share - diluted (USD per share)-$8.44$1.80$0.54

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The story

Founded by Joel S. Marcus on Jan 1, 1994.1

In 1993, one of the partners of Jacobs Engineering Group, Jerry M. Sudarsky, was presented with a Business Plan written by Kendell R. Lang titled BioProperties Management Group, Inc., which was a plan to form a REIT dedicated to funding biotech properties. The initial business plan included founders Kendell Lang, Alan Gold, Gary Kreitzer, and Steven Stone as part of the initial management team. Jacobs approached Joel S. Marcus, a lawyer and CPA, with the idea of representing their interests in this company to oversee the management team who intended to provide laboratories and office space to biotech firms. Jacobs invested in the company with $5 million.

Its first purchase was of 4 buildings in San Diego which had been negotiated and structured by Kendell R. Lang.

In 1997, it became a public company via an initial public offering, raising $155 million.

From Wikipedia’s article on Alexandria Real Estate Equities, shared under CC BY-SA 4.0.6

Leadership

Who has led Alexandria Real Estate Equities, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Peter M. Moglia2018–now

Chair

  1. Joel S. Marcus1994–now
1995200020052010201520202025
Board members and other officers (8)

Former names

  • ALEXANDRIA REAL ESTATE EQUITIES, INC.Aug 12, 2019 to Oct 2, 20265
  • ALEXANDRIA REAL ESTATE EQUITIES INCMay 22, 1997 to Aug 9, 20195

Timeline

  1. Apr 2018New chief executive Peter M. Moglia becomes CEO1
  2. May 28, 1997Went public Listed on NYSE1
  3. Jan 1, 1994Founded Founded1

Recent filings

  1. Oct 2, 20264
  2. Oct 2, 20264
  3. Sep 24, 20268-K
  4. Sep 17, 20264
  5. Sep 17, 20264
  6. Sep 17, 20264
  7. Sep 17, 20264
  8. Sep 17, 20264
  9. Sep 17, 20264
  10. Sep 17, 20264
  11. Sep 17, 20264
  12. Sep 15, 20264
  13. Sep 15, 20264
  14. Sep 11, 2026144
  15. Sep 2, 20264

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2

Sources

The numbers on this page point here. Each one links to the record it came from.

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