ALEXANDRIA EXECUTES LARGEST LIFE SCIENCE LEASE IN COMPANY HISTORY WITH A LONG-STANDING MULTINATIONAL PHARMACEUTICAL TENANT IN JULY FOR A466,598 RSF BUILD-TO-SUIT RESEARCH HUB AT OUR CAMPUS POINT BY ALEXANDRIA MEGACAMPUS ™ IN SAN DIEGO HIGHLIGHTS • 16-year lease term with a credit tenant • Underscores uniquely targeted demand for our leading life science destination in San Diego • R&D hub embedded in an amenity-rich Megacampus ecosystem that enables tenants to recruit and retain top talent Table of Contents ...

Core Insights - Alexandria Real Estate Equities, Inc. reported total revenues of $762 million for 2Q25, a slight decrease from $766.7 million in 2Q24, and $1.52 billion for 1H25, down from $1.54 billion in 1H24 [1][2] - The company experienced a net loss attributable to common stockholders of $109.6 million in 2Q25, compared to a profit of $42.9 million in 2Q24, resulting in a diluted loss per share of $0.64 [1][2] - Funds from operations (FFO) attributable to common stockholders were $396.4 million in 2Q25, slightly down from $405.5 million in 2Q24, with adjusted FFO per share at $2.33 [1][2] Operating Results - Occupancy rate of operating properties in North America stood at 90.8% as of June 30, 2025, reflecting temporary vacancies of 668,795 RSF [1][8] - The company reported a strong operating margin of 71% and an adjusted EBITDA margin of 71% [1] - Tenant collections remained robust, with 99.4% of July 2025 rents collected as of July 21, 2025 [1] Leasing Activity - Total leasing activity for 2Q25 reached 769,815 RSF, with a rental rate increase of 5.5% [2][3] - Lease renewals and re-leasing of space accounted for 483,409 RSF, with a cash basis rental rate increase of 6.1% [2][3] - The company executed the largest life science lease in its history in July 2025, totaling 466,598 RSF for a 16-year expansion [3][18] Financial Position - Alexandria maintains a strong balance sheet with significant liquidity of $4.6 billion and a net debt to adjusted EBITDA ratio of 5.9x [3][11] - Only 9% of total debt matures through 2027, with a weighted-average remaining term of debt at 12.0 years [3][11] - The company declared a common stock dividend of $1.32 per share for 2Q25, representing an 18-cent increase or 3.5% from the previous year [4] Capital Recycling Strategy - Alexandria plans to fund a significant portion of its capital requirements for 2025 through dispositions of non-core assets, with expected total dispositions and sales of partial interests in the range of $1.45 billion to $2.45 billion [2][5] - The company anticipates $139 million of incremental annual net operating income from its development and redevelopment pipeline by 4Q26 [5][6] Corporate Responsibility and Awards - Alexandria was recognized with the 2025 BOMA International TOBY Award in the Life Science category for its facility at 8 Davis Drive [18] - The company released its 2024 Corporate Responsibility Report, highlighting a reduction in operational greenhouse gas emissions intensity by 18% from 2022 to 2024 [18]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission file number 1-12993 ALEXANDRIA REAL ESTATE EQUITIES, INC. (Exact name of registrant as specified in its charter) Maryla ...

Core Insights - The article discusses the investment landscape in the real estate sector, particularly focusing on the performance and potential of various real estate investment trusts (REITs) and housing-related companies [2][3]. Group 1: Company Insights - Hoya Capital Research & Index Innovations is affiliated with Hoya Capital Real Estate, providing investment advisory services and market commentary focused on publicly traded securities in the real estate industry [2]. - The commentary emphasizes that it is for informational and educational purposes only, and does not constitute investment, tax, or legal advice [2]. Group 2: Industry Insights - The real estate industry is highlighted as having unique risks associated with investments in real estate companies and housing industry companies, as well as investments in ETFs [2]. - The article notes that past performance of market data does not guarantee future results, indicating the inherent volatility and unpredictability of the real estate market [3].

Something just happened at Alexandria Real Estate Equities, Inc. ( ARE )… and I think we should talk about it. Let’s dive right in.Analyst’s Disclosure:I/we have a beneficial long position in the shares of ARE either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha ...

Core Viewpoint - Alexandria Real Estate Equities Inc. (ARE) is expected to report a decline in revenues and funds from operations (FFO) per share for the second quarter of 2025, with results reflecting challenges in leasing and occupancy levels [1][9]. Financial Performance - In the last reported quarter, ARE beat the Zacks Consensus Estimate for adjusted FFO per share by 2 cents, driven by decent leasing activity and rental rate growth, although lower occupancy and higher interest expenses negatively impacted results [2][3]. - The Zacks Consensus Estimate for Alexandria's quarterly revenues is currently $750.7 million, indicating a 2.1% decrease from the prior-year period [4]. - For Q2 2025, rental income is projected to decline by 1.7%, and same-store net operating income is expected to decrease by 13% year over year [5][9]. Market Position and Risks - Alexandria owns a premium portfolio of Class A/A+ properties in high-barrier-to-entry markets in the U.S., but faces risks related to slow re-leasing of expiring spaces and lease-up vacancies, which may adversely affect occupancy levels [3][4]. - The company currently has an Earnings ESP of 0.00% and a Zacks Rank of 5 (Strong Sell), indicating a lack of confidence among analysts regarding a surprise in FFO per share this quarter [6][7]. Comparative Analysis - Other REITs such as Digital Realty Trust (DLR) and Highwoods Properties (HIW) are highlighted as potential investment opportunities, with both showing positive Earnings ESP and favorable Zacks Ranks [8][10].

Core Insights - BAD BEAT Investing, led by Quad 7 Capital, has been providing investment opportunities for nearly 12 years, with a notable call in February 2020 to sell everything and go short, maintaining an average position of 95% long and 5% short since May 2020 [1] Group 1 - The team consists of 7 analysts with diverse expertise in business, policy, economics, mathematics, game theory, and sciences [1] - BAD BEAT Investing focuses on short- and medium-term investments, income generation, special situations, and momentum trades [1] - The company emphasizes teaching investors to become proficient traders through a structured playbook, aiming to save time by providing in-depth, high-quality research with clear entry and exit targets [1] Group 2 - Benefits of BAD BEAT Investing include understanding market dynamics, executing well-researched trade ideas weekly, access to 4 chat rooms, and receiving daily analyst upgrade/downgrade summaries [2] - The program also offers education in basic options trading and provides extensive trading tools to enhance investor capabilities [2]

Core Insights - Alexandria Real Estate Equities, Inc. has received the 2025 International TOBY Award in the Life Science category for its property 8 Davis Drive, marking its first international recognition in this category [1][2] - The award highlights Alexandria's commitment to excellence in building management and operations, showcasing its long-standing track record in design and innovation [1][3] Company Overview - Alexandria Real Estate Equities, Inc. is a leading life science REIT with a market capitalization of $25.7 billion as of June 30, 2025, and an asset base of 39.7 million RSF of operating properties [6] - The company specializes in developing collaborative Megacampus ecosystems in key life science innovation clusters across North America, including Research Triangle, Greater Boston, and San Francisco Bay Area [6] Megacampus Ecosystem - The Alexandria Center for Advanced Technologies Megacampus in Research Triangle is designed to foster innovation in R&D and biomanufacturing, housing a diverse mix of tenants focused on advanced scientific modalities [2][5] - The Megacampus features amenities such as a locally sourced eatery, fitness center, event space, and landscaped areas, aimed at enhancing tenant productivity and attracting top talent [2][3] Strategic Vision - The company has transformed a 50-acre site into a dynamic Megacampus since its acquisition in 2012, emphasizing the importance of design and placemaking in creating a vibrant innovation ecosystem [2][5] - Alexandria's approach includes providing strategic capital to life science companies, ensuring a high-quality tenant base and fostering long-term asset value [6]

Core Insights - Green bond issuance by US equity real estate investment trusts (REITs) decreased in the first half of 2025 according to an analysis by S&P Global Market Intelligence [2] - Equinix Inc. (EQIX), a datacenter REIT, was the only issuer of green bonds during this period [2]

Core Insights - Alexandria Real Estate Equities, Inc. (ARE) has signed a 16-year lease for 466,598 rentable square feet (RSF), marking the largest life science lease in its 31-year history [1][10] - The lease is with a long-term multinational pharmaceutical tenant and is part of a build-to-suit research hub located at Campus Point in San Diego [1][10] Group 1: Lease and Development - The new research hub aims for 100% electrification and is targeting LEED Gold Core & Shell and Fitwel certifications, with construction set to begin in 2026 and completion expected in 2028 [3][10] - Campus Point currently has 1.3 million RSF in operation, with a 98.8% occupancy rate, and has potential for future development to expand to approximately 2.6 million RSF, representing a 420% growth since its initial acquisition [5][10] Group 2: Market Position and Strategy - Alexandria has established itself as a leader in life science real estate since its founding in 1994, focusing on creating a unique Megacampus ecosystem that supports a diverse tenant base [4][7] - The company caters to a wide range of high-quality tenants, including multinational pharmaceutical firms and biotechnology companies, although it remains sensitive to changes in the life science and technology sectors [8] Group 3: Future Outlook - The active development and redevelopment pipeline is seen as a positive for long-term growth, but it also presents challenges such as rising construction costs and lease-up concerns amid macroeconomic uncertainty [9]