NEW YORK, July 13, 2012 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), the largest and leading owner, operator and developer of high-quality, sustainable real estate for the broad and diverse life science industry in key innovation clusters, announced that it will ring The Closing Bell at the NYSE today, Friday, July 13, 2012, to commemorate the Company's 15th anniversary as a publicly traded company.
The board of directors and members of Alexandria's executive management team will join Joel S. Marcus, Chairman, Chief Executive Officer and Founder of Alexandria, as he rings The Closing Bell at 4:00 p.m. EDT. A live webcast of the ceremony will be available beginning at 3:59 p.m. EDT at the NYSE's website, www.nyse.com. Photos and video of the NYSE Bell Ringing Ceremony will also be available, courtesy of the NYSE, on Facebook (NYSE Euronext-Official Site), Twitter (@NYSE_Euronext) and YouTube (nysetv1).
"We are honored that the NYSE has invited us to ring The Closing Bell as we celebrate 15 years as a publicly traded company," said Mr. Marcus. "This milestone achievement and Alexandria's record of long-term success are a result of our world-class employees, investors, life science network and client tenant partners who continue to position Alexandria as the leader in life science real estate."
Alexandria was founded in 1994 by Mr. Marcus and Dr. Jerry Sudarsky as the first real estate investment trust (REIT) to identify and specialize in the life science niche. From its origination as a garage start-up, the Company went public on the NYSE in May 1997. Since that date, the Company has generated a total return of approximately 570% through June 30, 2012, assuming the reinvestment of all dividends. In July 2011, Alexandria received investment-grade ratings, which reflect the Company's continued leadership of the life science real estate niche; the strength of its credit profile and business; the size and quality of its real estate holdings; its consistent operating and leasing performance; its unmatched life science and real estate experience and expertise; the importance of its key cluster locations; stable net operating income from high-credit client tenants; and its continued focus on maintaining a conservative balance sheet. This is also a testament to the Company's high-credit life science industry client tenant base, a defining and unique characteristic of Alexandria. As of June 30, 2012, investment-grade client tenants represented approximately 47% of Alexandria's annualized base rent and included Novartis AG, Eli Lilly and Company, Roche Holding Ltd, Pfizer Inc., Biogen Idec Inc., The Regents of the University of California, and Bristol-Myers Squibb Company.
About Alexandria Real Estate Equities, Inc. Alexandria Real Estate Equities, Inc. (NYSE: ARE) is the largest and leading investment-grade real estate investment trust focused principally on owning, operating, and developing high-quality, sustainable real estate for the broad and diverse life science industry. Founded in 1994, Alexandria has the first-mover advantage in every core life science cluster location, including Greater Boston, San Francisco Bay, San Diego, New York City, Seattle, Suburban Washington, D.C., and Research Triangle Park. Alexandria's high-credit client tenants span the life science industry, including renowned academic and medical institutions, multinational pharmaceutical companies, public and private biotechnology entities, U.S. government research agencies, medical device companies, clean technology companies, venture capitalists, and life science product and service companies. As the recognized real estate partner of the life science industry, Alexandria has a superior track record in driving client tenant productivity and innovation through its best-in-class laboratory and office space, collaborative locations proximate to leading research institutions, unparalleled life science real estate expertise and services, and longstanding and expansive network in the life science community. For additional information on Alexandria Real Estate Equities, Inc., please visit www.are.com.
This press release contains forward-looking statements within the meaning of the federal securities laws. Actual results may differ materially from those projected in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained in our Annual Report on Form 10-K and our other periodic reports filed with the Securities and Exchange Commission.
SOURCE Alexandria Real Estate Equities, Inc.