Exhibit 99.1

 

 

Contact:

Joel S. Marcus

 

Chairman/Chief Executive Officer

 

Alexandria Real Estate Equities, Inc.

 

(626) 578-9693

 

ALEXANDRIA REAL ESTATE EQUITIES, INC.

REPORTS FOURTH QUARTER AND YEAR ENDED DECEMBER 31, 2009

FINANCIAL AND OPERATING RESULTS

 

Highlights

 

Fourth Quarter 2009:

·             Fourth Quarter 2009 Funds from Operations Per Share (Diluted) Attributable to Alexandria Real Estate Equities, Inc.’s Common Stockholders of $1.09

·             Fourth Quarter 2009 Earnings Per Share (Diluted) Attributable to Alexandria Real Estate Equities, Inc.’s Common Stockholders of $0.49

·             Fourth Quarter 2009 GAAP Same Property Revenues Less Operating Expenses Up 1.1%

·             Executed 40 Leases for 489,000 Rentable Square Feet

·    Fourth Quarter 2009 GAAP Rental Rate Increase of 1.5% on Renewed/Released Space

·             Fourth Quarter 2009 Occupancy Remains Relatively Steady at 94%

·             Closed 10-Year Secured Loan for $120 Million

·             Sold One Property Aggregating 47,558 Rentable Square Feet Previously Classified as “Held For Sale” to a Life Science User

·             As of December 31, 2009, Three Properties Aggregating 221,638 Rentable Square Feet Under Contract, LOI or Under Negotiation and Classified as “Held for Sale”

 

Year Ended December 31, 2009:

·             Total Return Performance of 456% from May 28, 1997 to December 31, 2009, Assuming Reinvestment of All Dividends

·             Positive GAAP Year-to-Year Lease Rolls for 11 Consecutive Years

·             Average December 31 Occupancy Percentage of 95% from December 31, 1998 to December 31, 2009

·             Positive GAAP Same Property Growth Quarter-to-Quarter for 46 Consecutive Quarters

·             2009 Funds from Operations Per Share (Diluted) Attributable to Alexandria Real Estate Equities, Inc.’s Common Stockholders of $5.52

·             2009 Earnings Per Share (Diluted) Attributable to Alexandria Real Estate Equities, Inc.’s Common Stockholders of $2.72

·             Operating Margins Steady at 74%

·             GAAP Same Property Revenues Less Operating Expenses up 2.8%

·             Executed 142 Leases for 1,864,000 Rentable Square Feet

·             GAAP Rental Rate Increase of 3.5% on Renewed/Released Space

·             Entered into 15-Year Lease Aggregating 100,000 Rentable Square Feet with Eli Lilly and Company as Anchor Tenant at Alexandria CenterTM for Life Science – New York City

·             Leased 310,000 Rentable Square Feet of Redevelopment and Development Space

·             Completed Ground-Up Development of Property at Mission Bay, San Francisco Aggregating 102,000 Rentable Square Feet Pursuant to a 15-Year Lease with Pfizer Inc.

·             Completed Redevelopment of Multiple Spaces at 10 Properties Aggregating 227,000 Rentable Square Feet; 72% Leased

·             Reduced Principal Balances of Secured Notes Payable by $267 Million

·             Extended Maturities or Refinanced Secured Notes Payable Aggregating $159 Million

·             Closed 10-Year Secured Loan for $120 Million

·             Sold Four Properties Aggregating 111,776 Rentable Square Feet to Life Science Users

·             Closed Two Follow-on Common Stock Offerings with Aggregate Net Proceeds of $488 Million

·             Closed Private Offering of 8.00% Unsecured Convertible Notes with Net Proceeds of $233 Million

·             Repurchased, in Privately Negotiated Transactions, $75 Million (Par Value) of Our 3.70% Unsecured Convertible Notes

 

Other:

·              Received LEED® Gold Certification for Building in San Diego Market in 2009 and LEED Silver Certifications for Two Buildings in San Francisco Bay Market in January 2010

·              Completed Ground-Up Development of One Property in Seattle, Washington Aggregating 115,000 Rentable Square Feet Pursuant to a 10-Year Lease with Gilead Sciences Inc. in February 2010

 

(more)

 


The following information was filed by Alexandria Real Estate Equities Inc (ARE) on Thursday, February 11, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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