PASADENA, Calif., Feb. 10, 2026 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. ("Alexandria" or the "Company") (NYSE: ARE) today announced the pricing terms of its previously announced cash tender offers (the "Tender Offers") to purchase up to an aggregate principal amount of its outstanding 3.000% Senior Notes due 2051 (the "2051 Notes"), 3.550% Senior Notes due 2052 (the "2052 Notes") and 4.000% Senior Notes due 2050 (the "2050 Notes", and, together with the 2051 Notes and the 2052 Notes, the "Notes" and, each series, a "series of Notes"), upon the terms and subject to the conditions set forth in the Offer to Purchase, dated January 27, 2026 (the "Offer to Purchase"), that will not result in an Aggregate Maximum Tender Amount (as defined in the Offer to Purchase) that exceeds $952,202,784.40, in order to accept all of the Notes that were validly tendered and not validly withdrawn at or prior to the Early Tender Date (as defined below). The Notes are fully and unconditionally guaranteed by Alexandria Real Estate Equities, L.P. (the "Guarantor").
The "Total Consideration" for each per $1,000 principal amount of the Notes validly tendered and accepted for purchase pursuant to the Tender Offers was determined by reference to the applicable fixed spread over the yield to maturity based on the bid side price of the applicable U.S. Treasury Security, in each case set forth in the table below, and is payable to the registered holders ("Holders") of the Notes who validly tendered and did not validly withdraw their Notes at or before 5:00 p.m., New York City time, on February 9, 2026 ("Early Tender Date") and whose Notes are accepted for purchase by the Company. The applicable reference yields (as determined pursuant to the Offer to Purchase) listed in the table were determined at 10:00 a.m., New York City time, today, February 10, 2026, by the Lead Dealer Managers (as defined below). The Total Consideration for each of the Notes includes an early tender premium of $50.00 per $1,000 principal amount of Notes validly tendered and not validly withdrawn by such Holders and accepted for purchase by the Company (the "Early Tender Premium").
The following table sets forth certain information regarding the Notes and the Tender Offers:
| Title of Notes | CUSIP Number (1) | Acceptance Priority Level (2) | Reference U.S. Treasury Security | Reference Yield | Fixed Spread (basis points) | Total Consideration (3)(4) | Aggregate Principal Amount Tendered (5) | Aggregate Principal Amount Expected to be Accepted for Purchase |
| 3.000% Senior Notes due 2051 | 015271 AX7 | 1 | 4.750% UST due August 15, 2055 | 4.795 % | +75 | $656.22 | $497,602,000 | $497,602,000 |
| | | | | | | | | |
| 3.550% Senior Notes due 2052 | 015271 AZ2 | 2 | 4.750% UST due August 15, 2055 | 4.795 % | +75 | $726.53 | $524,594,000 | $524,594,000 |
| | | | | | | | | |
| 4.000% Senior Notes due 2050 | 015271 AS8 | 3 | 4.750% UST due August 15, 2055 | 4.795 % | +80 | $790.86 | $309,199,000 | $309,199,000 |
| _____________________________________ | |
| (1) | No representation is made as to the correctness or accuracy of the CUSIP Numbers listed in this press release or printed on the Notes. They are provided solely for the convenience of the Holders of the Notes. |
| (2) | Subject to the Aggregate Maximum Tender Amount and proration, the principal amount of each series of Notes that is purchased in the Tender Offers will be determined in accordance with the applicable Acceptance Priority Level (in numerical priority order with 1 being the highest Acceptance Priority Level and 3 being the lowest) specified in this column. |
| (3) | Includes the Early Tender Premium. |
| (4) | Per $1,000 principal amount of Notes validly tendered at or prior to the Early Tender Date (and not validly withdrawn) and accepted for purchase by the Company. |
| (5) | At the Early Tender Date. |
The Company will accept for payment all Notes purchased in connection with the Early Tender Date on the Early Settlement Date (as defined in the Offer to Purchase), which is expected to occur on February 12, 2026. All payments for Notes purchased in connection with the Early Tender Date will also include accrued and unpaid interest on the principal amount of the Notes purchased, from the last interest payment date with respect to those Notes to, but not including, the Early Settlement Date.
Although the Tender Offers are scheduled to expire at 5:00 p.m., New York City time, on February 25, 2026, because the aggregate principal amount of all Notes validly tendered and not validly withdrawn by the Early Tender Date is equal to the Aggregate Maximum Tender Amount, the Company does not expect to accept for purchase any tenders of Notes after the Early Tender Date. Any Notes tendered after the Early Tender Date will be promptly credited to the account of the Holders of such Notes maintained at the Depository Trust Company and otherwise returned in accordance with the Offer to Purchase.
Full details of the terms and conditions of the Tender Offers are described in the Offer to Purchase, which was sent by the Company to Holders of the Notes. Holders of the Notes are encouraged to read the Offer to Purchase as it contains important information regarding the Tender Offers. The Company's obligation to accept for purchase, and to pay for, the Notes validly tendered pursuant to the Tender Offers is subject to, and conditioned upon, among other things, the satisfaction or waiver of the Financing Conditions (as defined in the Offer to Purchase).
The Company has retained Citigroup Global Markets Inc., Barclays Capital Inc. and J.P. Morgan Securities LLC to serve as Lead Dealer Managers for the Tender Offers and Goldman Sachs & Co. LLC, RBC Capital Markets, LLC, Mizuho Securities USA LLC, SMBC Nikko Securities America, Inc., U.S. Bancorp Investments, Inc. and BofA Securities, Inc. as Co-Dealer Managers for the Tender Offers. Global Bondholder Services Corporation has been retained to serve as the Depositary and Information Agent for the Tender Offers. Questions regarding the Tender Offers may be directed to Citigroup Global Markets Inc. at 388 Greenwich Street, New York, New York 10013, (800) 558-3745, Barclays Capital Inc. at 745 Seventh Avenue, 5th Floor, New York, New York 10019, (800) 438-3242, and J.P. Morgan Securities LLC, 270 Park Avenue, New York, New York 10017, (866) 834-4666. Requests for the Offer to Purchase may be directed to Global Bondholder Services Corporation at 65 Broadway – Suite 404, New York, New York 10006, Attn: Corporate Actions, (212) 430-3774 (for banks and brokers) or (855) 654-2014 (for all others). The Company is making the Tender Offers only by, and pursuant to, the terms of the Offer to Purchase. None of the Company, the Guarantor, the Lead Dealer Managers, the Co-Dealer Managers or the Depositary and Information Agent make any recommendation as to whether Holders should tender or refrain from tendering their Notes. Holders must consult their own investment and tax advisors and make their own decisions as to whether to tender their Notes and, if so, the principal amount of the Notes to tender. The Tender Offers are not being made to holders of the Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the Tender Offers to be made by a licensed broker or dealer, the Tender Offers will be deemed to be made on behalf of the Company by the Lead Dealer Managers, or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About Alexandria Real Estate Equities, Inc.
Alexandria, an S&P 500® company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. With our founding in 1994, Alexandria pioneered the life science real estate niche. Alexandria is the preeminent and longest-tenured owner, operator, and developer of collaborative Megacampus™ ecosystems in AAA life science innovation cluster locations, including Greater Boston, the San Francisco Bay Area, San Diego, Seattle, Maryland, Research Triangle and New York City.
Forward-Looking Statements
This press release includes "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. Such forward-looking statements include, without limitation, statements regarding timing and consummation of the purchase of the Notes, risks and uncertainties related to the satisfaction of the Financing Condition and other conditions related to the purchase of the Notes. These forward-looking statements are based on the Company's present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by the Company's forward-looking statements as a result of a variety of factors, including, without limitation, the risks and uncertainties detailed in its filings with the Securities and Exchange Commission. All forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update this information. For more discussion relating to risks and uncertainties that could cause actual results to differ materially from those anticipated in the Company's forward-looking statements, and risks and uncertainties to the Company's business in general, please refer to the Company's filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and any subsequently filed quarterly reports on Form 10-Q.
Contact: Joel Marcus, Executive Chairman & Founder, (626) 578-0777, jmarcus@are.com
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SOURCE Alexandria Real Estate Equities, Inc.
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