Alexandria Real Estate Equities Enters Material Agreement

TL;DR

ARE just signed a big financial deal, details TBD.

AI Summary

Alexandria Real Estate Equities, Inc. (ARE) entered into a material definitive agreement on July 18, 2024, related to a direct financial obligation. The filing does not specify the counterparty or the exact nature of the obligation, but it is a significant event for the company's financial standing.

Why It Matters

This filing indicates a new financial commitment or obligation for Alexandria Real Estate Equities, which could impact its balance sheet and future financial flexibility.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement and a direct financial obligation, suggesting a significant financial event that could carry inherent risks.

Key Players & Entities

• Alexandria Real Estate Equities, Inc. (company) — Registrant
• July 18, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $5 billion — d to provide for, among other things, a $5 billion unsecured senior revolving credit facil
• $1 billion — Credit Agreement by up to an additional $1 billion. Borrowings under the Revolving Credit

Filing Documents

• are-20240718.htm (8-K) — 28KB
• 0001035443-24-000204.txt ( ) — 150KB
• are-20240718.xsd (EX-101.SCH) — 2KB
• are-20240718_lab.xml (EX-101.LAB) — 21KB
• are-20240718_pre.xml (EX-101.PRE) — 12KB
• are-20240718_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement Escrow Agreement On July 18, 2024, Alexandria Real Estate Equities, Inc., a Maryland corporation (the "Company"), and its subsidiary, Alexandria Real Estate Equities, L.P., a Delaware limited partnership (the "Operating Partnership"), entered into an escrow agreement (the "Escrow Agreement") with Citibank, N.A., as administrative agent (the "Administrative Agent"), certain lenders (the "Lenders") and O'Melveny & Myers LLP, as escrow agent (the "Escrow Agent"), pursuant to which the Company, the Operating Partnership, the Administrative Agent, and the Lenders, intending to enter into a third amended and restated credit agreement in the form attached as an exhibit thereto (the "Third Amended Credit Agreement"), submitted their signature pages to the Third Amended Credit Agreement to be held by the Escrow Agent in escrow. Pursuant to the Escrow Agreement, the Escrow Agent will release the signatures to the Third Amended Credit Agreement and the Third Amended Credit Agreement will become effective upon satisfaction by the Company of certain conditions precedent to the effectiveness of the Third Amended Credit Agreement set forth in the Third Amended Credit Agreement. If the conditions are not satisfied by the Company on or prior to October 1, 2024, the Third Amended Credit Agreement signature pages will be deemed to have been revoked, the escrow arrangements under the Escrow Agreement will terminate, and the Third Amended Credit Agreement will not become effective. The conditions to be satisfied by the Company include the delivery of certain legal opinions and certificates, the termination of, and payment in full of the obligations under, the Second Amended and Restated Credit Agreement, dated as of June 28, 2023 (the "Existing Credit Agreement"), among the Company, the Operating Partnership, the other guarantors (if any) from time to time party thereto, each lender from time to time party thereto, each L/C iss

Forward-looking Statements

Forward-looking Statements This current report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may be identified by the use of words such as "believes," "expects," "may," "will," "should," "seeks," "intends," "plans," "estimates," or "anticipates," or the negative of these words or similar words, and include (without limitation) statements regarding the anticipated effectiveness and maturity date of the Credit Agreement and the expected satisfaction of the conditions to the Credit Agreement. Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in each such statement. A number of important factors could cause actual results to differ materially from those included within or contemplated by the forward-looking statements, including, but not limited to, the factors described in the Company's filings with the Securities and Exchange Commission, including the Company's most recent annual report on Form 10-K and any subsequent quarterly reports on Form 10-Q. The Company does not undertake any responsibility to update any of these factors or to announce publicly any revisions to any of the forward-looking statements contained in this or any other document, whether as a result of new information, future events, or otherwise.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ALEXANDRIA REAL ESTATE EQUITIES, INC. Date: July 18, 2024 By: /s/ Marc E. Binda Marc E. Binda Chief Financial Officer and Treasurer

View Full Filing

View this 8-K filing on SEC EDGAR