Alexandria Real Estate Equities Enters Material Agreement

TL;DR

ARE just signed a big deal, creating a new financial obligation. Watch this space.

AI Summary

On September 19, 2024, Alexandria Real Estate Equities, Inc. (ARE) entered into a material definitive agreement, creating a direct financial obligation. The company, headquartered in Pasadena, California, filed this 8-K report with the SEC.

Why It Matters

This filing indicates a significant new financial commitment or obligation for Alexandria Real Estate Equities, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and creating financial obligations can introduce new risks related to debt, performance, or market conditions.

Key Numbers

• 0001035443-24-000271 — Accession Number (Unique identifier for the SEC filing)
• 1-12993 — Commission File Number (SEC file number for the registrant)

Key Players & Entities

• Alexandria Real Estate Equities, Inc. (company) — Registrant
• September 19, 2024 (date) — Date of earliest event reported
• Pasadena, California (location) — Principal executive offices
• 626-578-0777 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $5 billion — ent provides 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-20240919.htm (8-K) — 26KB
• 0001035443-24-000271.txt ( ) — 148KB
• are-20240919.xsd (EX-101.SCH) — 2KB
• are-20240919_lab.xml (EX-101.LAB) — 21KB
• are-20240919_pre.xml (EX-101.PRE) — 12KB
• are-20240919_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement The Credit 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. The terms and conditions of the Escrow Agreement were satisfied on September 19, 2024, and on that date the Third Amended Credit Agreement was deemed executed and became effective. The Third Amended Credit Agreement replaces the Company's Second Amended and Restated Credit Agreement, dated as of June 28, 2023. Citibank, N.A. serves as administrative agent; Citibank, N.A., BofA Securities, Inc., JPMorgan Chase Bank, N.A., Goldman Sachs Bank USA, RBC Capital Markets, The Bank of Nova Scotia, Mizuho Bank, Ltd., Barclays Bank PLC, Sumitomo Mitsui Banking Corporation, TD Bank, N.A., and U.S. Bank National Association serve as joint lead arrangers; and Citibank, N.A., BofA Securities, Inc., JPMorgan Chase Bank, N.A., Goldman Sachs Bank USA, and RBC Capital Markets serve as joint bookrunners under the Third Amended Credit Agreement. The Third Amended Credit Agreement provides for, among other things, a $5 billion unsecured senior revolving credit facility (the "Revolving Credit Facility") and an accordion option to increase aggregate commitments under the Third Amended Credit Agreement by up to

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: September 19, 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