Pasadena’s Alexandria Real Estate Equities Marks 30 Years of Pioneering Life Science Real Estate – Pasadena Now

Today marks a significant milestone for Pasadena-based Alexandria Real Estate Equities, Inc. as it celebrates 30 years of operation. The company, which specializes in the development of life science, agtech, and advanced technology mega campuses, has played a pioneering role in transforming life science real estate into a mainstream asset class across the United States.

Headquartered on the corner of N. Euclid Ave. at E. Union St. kitty-corner to Pasadena City Hall, the company said Friday it had a total market capitalization of $28.3 billion and an asset base in North America of 75.1 million square feet of property as of September 30.

Over the past three decades, Alexandria has leveraged its first-mover advantage in top life science clusters, high-quality Labspace assets, and deep-rooted tenant relationships to generate a long-term total stockholder return (TSR) of 1,512%. This performance significantly outpaces major indices over the same period.

The company’s sustained performance is underpinned by a robust balance sheet, with no debt maturities prior to 2025, 99.0% of debt at fixed rates, and credit ratings that rank among the top 10% of all publicly traded U.S. REITs. As of September 30, 2023, the company reported significant liquidity of $5.9 billion.

Alexandria’s impact extends beyond financial performance. The company has been instrumental in delivering the complex laboratory infrastructure necessary to advance life-changing treatments and cures. Remarkably, half of all FDA-approved therapies since 2013 have originated from Alexandria’s tenants, underscoring the company’s significant contribution to human health.

Reflecting on the company’s journey, Joel S. Marcus, executive chairman and founder of Alexandria Real Estate Equities, Inc./Alexandria Venture Investments, said, “We are immensely proud to have achieved the three outputs that define a great company: Superior Results, Distinctive Impact, and Lasting Endurance. As we celebrate our 30th anniversary, we look forward to building upon these outputs as we transition the company into the next generation.”

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