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, 2010

FINANCIAL AND OPERATING RESULTS

 

Highlights

 

Fourth Quarter 2010:

·             Fourth Quarter 2010 Funds from Operations Per Share (Diluted) Attributable to Alexandria Real Estate Equities, Inc.’s Common Stockholders of $1.11, Before Losses on Early Extinguishment of Debt and Gain on Sales of Property

·             Fourth Quarter 2010 Earnings Per Share (Diluted) Attributable to Alexandria Real Estate Equities, Inc.’s Common Stockholders of $1.52

·             Earnings Guidance Range for FFO per Share (Diluted) for the Year Ended December 31, 2011 of $4.58-$4.68, up 2 Cents Before January 2011 Losses on Early Extinguishment of Debt

·             Increased Quarterly Dividend to $0.45, up 29%, per Common Share for Fourth Quarter 2010

·             Executed 40 Leases for 1,074,000 Rentable Square Feet, Including a 347,000 Rentable Square Foot Campus Lease in San Diego, California and 275,000 Rentable Square Feet of Redevelopment and Development Space; Highest Single Quarter of Leasing Activity in Company History

·             Fourth Quarter 2010 GAAP Rental Rate Increase of 4.3% on Renewed/Released Space

·             GAAP Same Property Revenues Less Operating Expenses up 1.3%

·             Fourth Quarter 2010 Occupancy of Operating Properties Remains Steady at 94%; Fourth Quarter 2010 Occupancy of Operating and Redevelopment Properties at 89%

·             Repaid Three Secured Loans Approximating $63 Million and Repurchased, in Privately Negotiated Transactions, $83 Million  of 3.7% Unsecured Convertible Notes

·             Completed Ground-up Development of Alexandria Center™ for Life Science – New York City; 92% Occupancy and 96% Leased; LEED Gold Certified

·             Acquired Five Properties in Various Markets Aggregating Approximately 866,000 Rentable Square Feet for an Aggregate Purchase Price of $282 Million, Including Two Life Science Campuses Aggregating 720,000 Rentable Square Feet

·             Completed Sales of Land Parcels in Mission Bay, San Francisco for Aggregate Sales Price of $278 Million at a Gain of $59 Million

 

Year Ended December 31, 2010:

·             Total Return Performance of 547% from May 28, 1997 to December 31, 2010, Assuming Reinvestment of All Dividends

·             Positive GAAP Rental Rate Increases on Renewed/Released Space for 12 Consecutive Years

·             Average December 31 Occupancy Percentage for Operating Properties of 95% and Occupancy Percentage for Operating and Redevelopment Properties of 89% from December 31, 1998 to December 31, 2010

·             Positive GAAP Same Property Growth Quarter-to-Quarter for 50 Consecutive Quarters

·             2010 Funds from Operations Per Share (Diluted) Attributable to Alexandria Real Estate Equities, Inc.’s Common Stockholders of $4.40, Before Losses on Early Extinguishment of Debt and Gain on Sales of Property

·             2010 Earnings Per Share (Diluted) Attributable to Alexandria Real Estate Equities, Inc.’s Common Stockholders of $2.19

·             Executed 142 Leases for 2,744,000 Rentable Square Feet, Including 712,000 Rentable Square Feet of Redevelopment and Development Space; Highest Year of Leasing Activity in Company History

·             GAAP Rental Rate Increase of 4.9% on Renewed/Released Space

·             GAAP Same Property Revenues Less Operating Expenses up 0.4%

·             Repaid Eight Secured Loans Approximating $119 Million, Retired Substantially All $240 Million of 8% Unsecured Convertible Notes, and Repurchased $83 Million of 3.7% Unsecured Convertible Notes

·             Acquired Seven Properties in Various Markets Aggregating Approximately 980,000 Rentable Square Feet for an Aggregate Purchase Price of $318 Million

·             Sold One Property and Land Parcels for an Aggregate Sales Price of $290 Million at an Aggregate Gain of $59 Million

·             Completed Redevelopment of Multiple Spaces at Nine Properties Aggregating 303,000 Rentable Square Feet

·             Completed Ground-Up Development of Three Properties Aggregating 553,000 Rentable Square Feet

·             Commenced Ground-Up Development of Two Fully Leased Properties Aggregating 220,000 Rentable Square Feet Pursuant to Long Term Leases

·             Obtained Final Zoning Approval for Alexandria Center™ at Kendall Square Located in East Cambridge, Massachusetts, an 11.3-Acre Development with 1.9 Million Rentable Square Feet of Life Science and Other Space

 

(more)

 


The following information was filed by Alexandria Real Estate Equities Inc (ARE) on Thursday, February 3, 2011 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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