ALEXANDRIA REAL ESTATE EQUITIES, INC. PASADENA, Calif., April 2, 2024 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), the first, preeminent, longest-tenured and pioneering owner, operator and developer of collaborative life science mega campuses in AAA innovation cluster locations, today announced that it has been named one of Newsweek's Most Trustworthy Companies in America for the second consecutive year. Alexandria was selected for this prestigious annual list based on the analysis of an extensive independent survey compiled in collaboration with the publication's market research partner Statista, in which 25,000 U.S. residents rated companies on three touchpoints of trust: customer trust, investor trust and employee trust. On the 2024 list, Alexandria holds the top ranking among the three S&P 500 REITs recognized in the real estate and housing category.
"Guided by Alexandria's core values of integrity, mutual respect, egoless leadership, humility, transparency, teamwork and trust, we have established ourselves at the vanguard and heart of the $5 trillion secularly growing life science industry," said Joel S. Marcus, executive chairman and founder of Alexandria Real Estate Equities, Inc. and Alexandria Venture Investments. "We are honored that Newsweek has again recognized us with this important award, which is a testament to our company's values and to the trust that our tenants, investors and employees have in our one-of-a-kind brand. As Jim Collins has said, 'Alexandria has achieved the three outputs that define a great company: Superior Results, Distinctive Impact and Lasting Endurance.' We remain unwavering in our efforts to build upon these outputs and to continue to maintain our stellar reputation as the most trusted brand for life science real estate."
Over more than three decades, Alexandria has cultivated longstanding strategic tenant relationships with leading life science companies, like Eli Lilly, Bristol Myers Squibb, Takeda and AstraZeneca, which require its essential, integrated laboratory and nontechnical infrastructure to enable their critical efforts to discover, develop and deliver life-changing therapies for patients worldwide and to help safeguard billions of dollars of mission-critical equipment and scientific research. Reflecting the value of these trusted relationships, 76% of Alexandria's leasing activity in 2023 was generated from its existing tenants. To help its tenants recruit and retain top talent and provide them with a visible path for growth, Alexandria remains focused on aggregating its high-quality assets into desirable, well-located mega campuses that feature creative amenities, curated placemaking and inspiring design.
Creating value for Alexandria's investors is a primary and critical objective for the company. Alexandria's execution of its multifaceted platform of internal and external growth continues to drive outstanding long-term total shareholder return (TSR). From its initial public offering in May 1997 through December 31, 2023, Alexandria has generated a TSR of 1,512%, substantially outperforming major indices over the same period, including the FTSE Nareit Equity Health Care Index's TSR of 980% and the MSCI US REIT Index's TSR of 792% (assuming reinvestment of dividends). Additionally, Alexandria has been consistently recognized for delivering transparent, high-quality and efficient disclosures to the investment community. The company's premier reporting practices have earned it eight Nareit Investor CARE (Communications and Reporting Excellence) Awards, including a record seven Gold Awards — the most Gold Awards by any equity REIT. In 2023, Alexandria was also awarded its sixth consecutive GRESB "A" disclosure score with a perfect score of 100 and a #1 ranking for transparency regarding its sustainability practices and reporting.
Alexandria places a significant focus on building loyalty and trusted relationships with its employees. The company provides an industry-leading total rewards package that focuses on prioritizing the physical, mental and financial well-being of its employees and their families. This comprehensive program includes highly competitive compensation and retirement benefits; performance bonuses and rewards; and work-life balance support, including wellness reimbursements, generous paid time off and company holidays, and 100% company-paid therapy and life coaching. Alexandria provides a top-tier health plan, for which it covers 100% of the premiums for its employees and their eligible family members — a truly exceptional practice that distinguishes the company from the 96% of U.S. employers who require an employee contribution for individual coverage and the 99% who require it for family coverage, as reported in Mercer's 2023 annual benefits survey. Alexandria also offers its team members excellent career advancement opportunities, personalized professional development and training programs, and volunteer programs to foster a collaborative, mission-driven culture.
Alexandria's dedication to making a positive and lasting impact on human health and society is core to enhancing stakeholder trust. Through its pioneering social responsibility pillars, Alexandria has worked steadfastly to develop and implement scalable long-term solutions to some of the most prevalent and pressing societal challenges, including disease and other threats to human health, hunger and food insecurity, deficiencies in support services for the military and their families, disparities in educational opportunities, addiction and mental health. The meaningful tangible impact of Alexandria's action-oriented social responsibility initiatives is exemplified through its leadership in pioneering OneFifteen, a one-of-a-kind model encompassing a full continuum of care for addiction recovery. Since it opened its doors in 2019, OneFifteen has treated over 7,500 patients living with opioid addiction and other substance use disorders. Alexandria has also actively enabled the Navy SEAL Foundation's vital work to address the unique physical and mental health needs of our nation's elite warriors since 2010, including through the company's central role in the establishment and launch of the foundation's Warrior Fitness Program West Coast facility in San Diego in November 2023.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500® company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche since our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator and developer of collaborative life science mega campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland and Research Triangle. Alexandria has a total market capitalization of $33.1 billion and an asset base in North America of 73.5 million SF as of December 31, 2023, which includes 42.0 million RSF of operating properties, 5.5 million RSF of Class A/A+ properties undergoing construction and one near-term project expected to commence construction in the next two years, 2.1 million RSF of priority anticipated development and redevelopment projects and 23.9 million SF of future development projects. Alexandria has a longstanding and proven track record of developing Class A/A+ properties clustered in life science mega campuses that provide our innovative tenants with highly dynamic and collaborative environments that enhance their ability to successfully recruit and retain world-class talent and inspire productivity, efficiency, creativity and success. Alexandria also provides strategic capital to transformative life science companies through our venture capital platform. We believe our unique business model and diligent underwriting ensure a high-quality and diverse tenant base that results in higher occupancy levels, longer lease terms, higher rental income, higher returns and greater long-term asset value. For more information on Alexandria, please visit www.are.com.
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 Alexandria's sustainability and social responsibility initiatives, practices, investments and progress, and the potential impacts of such activities on Alexandria's business and the companies and non-profit organizations in which Alexandria invests or with which Alexandria has strategic relationships. These forward-looking statements are based on Alexandria'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 Alexandria'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 Alexandria 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 Alexandria's forward-looking statements, and risks and uncertainties to Alexandria's business in general, please refer to Alexandria'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 S. Marcus, Executive Chairman & Founder, (626) 578-9693, jmarcus@are.com
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