Alexandria Real Estate Equities, Inc. Announces Early Results and Upsizing of Cash Tender Offers

Rhea-AI Summary

Alexandria Real Estate Equities (NYSE: ARE) reported early results of cash tender offers for its 2050, 2051 and 2052 senior notes and has increased the Aggregate Maximum Tender Amount to accept all Notes validly tendered and not withdrawn as of the Early Tender Date (Feb 9, 2026).

As of 5:00 p.m. ET on Feb 9, 2026, holders tendered $497.602M of 3.000% notes due 2051, $524.594M of 3.550% notes due 2052 and $309.199M of 4.000% notes due 2050. Acceptance remains subject to financing conditions.

Positive

• Increased Aggregate Maximum Tender Amount to accept all early tenders
• 2051 Notes: $497.602M tendered
• 2052 Notes: $524.594M tendered
• 2050 Notes: $309.199M tendered

Negative

• Acceptance and payment remain subject to Financing Conditions
• Company does not expect to accept tenders after the Early Tender Date

Argus Feb 10 session

+1.17% close to close Open Argus

Details

News Market Reaction – ARE

On Feb 10, the day this news came out, ARE closed 1.17% above the previous close.

Data tracked by StockTitan Argus for the Feb 10 session.

Key Figures

2051 Notes outstanding: $850,000,000 2051 Notes tendered: $497,602,000 2052 Notes outstanding: $1,000,000,000 +5 more

2051 Notes outstanding

$850,000,000

Aggregate principal amount outstanding 3.000% Senior Notes due 2051

2051 Notes tendered

$497,602,000

Principal amount tendered by Early Tender Date for 2051 Notes

2052 Notes outstanding

$1,000,000,000

Aggregate principal amount outstanding 3.550% Senior Notes due 2052

2052 Notes tendered

$524,594,000

Principal amount tendered by Early Tender Date for 2052 Notes

2050 Notes outstanding

$700,000,000

Aggregate principal amount outstanding 4.000% Senior Notes due 2050

2050 Notes tendered

$309,199,000

Principal amount tendered by Early Tender Date for 2050 Notes

2051 coupon rate

3.000%

Interest rate on Senior Notes due 2051

2050 coupon rate

4.000%

Interest rate on Senior Notes due 2050

Historical Context

5 past events · Latest: Jan 27

5 events

1. Jan 27

   Debt tender launch

   24h Move

   +1.7%

   Announced cash tender offers for multiple long-dated senior notes up to set cap.

2. Jan 26

   Earnings and guidance

   24h Move

   -4.2%

   Reported net loss, cut dividend 45%, outlined 2025 metrics and 2026 FFO guidance.

3. Jan 23

   Tax distribution details

   24h Move

   +2.8%

   Provided tax breakdown of 2025 distributions across ordinary, qualified, and ROC buckets.

4. Jan 05

   Anniversary milestone

   24h Move

   +1.2%

   Highlighted 32-year track record, occupancy strength, tenant retention, and FDA-related impact.

5. Dec 09

   Earnings call notice

   24h Move

   +0.7%

   Scheduled fourth-quarter and year-end 2025 results call and provided access details.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

cash tender offers, senior notes, cusip number, aggregate maximum tender amount, +3 more

7 terms

cash tender offers financial

"announced the results to date of its previously announced cash tender offers"

A cash tender offer is when a company or investor offers to buy shares directly from shareholders for cash, usually at a price higher than the current market value. It’s a way to quickly acquire a large number of shares, often to gain control of a company or influence its decisions.

senior notes financial

"outstanding 3.000% Senior Notes due 2051, 3.550% Senior Notes due 2052"

Senior notes are a type of loan that a company borrows from investors, promising to pay it back with interest. They are called "senior" because in case the company faces financial trouble, these lenders are paid back before others. This makes senior notes safer for investors compared to other types of loans or bonds.

cusip number financial

"Title of Notes | CUSIP Number (1) | Aggregate Principal Amount Outstanding"

A CUSIP number is a nine-character code that uniquely identifies a specific U.S. or Canadian stock, bond, or other security, similar to a barcode or a social-security number for a financial instrument. It matters to investors because it removes confusion between similar securities, ensures trades and settlements are applied to the correct issue, and helps locate official documents and transaction records quickly.

aggregate maximum tender amount financial

"increasing the Aggregate Maximum Tender Amount in order to accept all of the Notes"

The aggregate maximum tender amount is the total dollar value or number of shares a buyer sets as the upper limit for a tender offer — essentially the biggest “bucket” of stock or cash the buyer is willing to accept. It matters to investors because it determines whether all shareholders who want to sell will be able to do so; if more shares are offered than that limit, the buyer will accept only part of each seller’s offer, meaning some shareholders may have only a portion of their sale executed.

total consideration financial

"The determination of the Total Consideration will occur at 10:00 a.m."

Total consideration is the full amount of value exchanged in a transaction, including all payments, assets, or benefits involved. It represents what is given up or received in a deal, much like the total price paid when buying a house, covering both the purchase price and any additional costs or benefits. For investors, understanding total consideration helps assess the true scale and value of a transaction.

financing conditions financial

"subject to, and conditioned upon, among other things, the satisfaction or waiver of the Financing Conditions"

Financing conditions are the practical terms and environment that determine how a company can raise money — how easy it is to borrow or sell shares, how much it will cost, and what rules come with the funds. Like borrowing from a bank versus a friend, tighter conditions mean higher cost or tougher rules and can slow growth, increase risk, or dilute existing shareholders, so investors watch them to judge future funding and value.

depository trust company financial

"credited to the account of the registered holder of such Notes maintained at the Depository Trust Company"

A central securities depository that holds stocks, bonds and other securities in electronic form and handles the transfer and finalizing of trades between brokerages. For investors it acts like a secure electronic vault and central bookkeeping hub that speeds transactions, reduces the chance of lost or duplicated certificates, and determines whether holdings are eligible for trading, dividends and other corporate actions through your broker.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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PASADENA, Calif., Feb. 10, 2026 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. ("Alexandria" or the "Company") (NYSE: ARE) today announced the results to date of its previously announced cash tender offers (the "Tender Offers") to purchase a portion of the Company's 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").  The Notes are fully and unconditionally guaranteed by Alexandria Real Estate Equities, L.P. (the "Guarantor").  The Company also announced that it is increasing the Aggregate Maximum Tender Amount (as defined in the Offer to Purchase) 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). 

According to information received from Global Bondholder Services Corporation, the depositary and information agent for the Tender Offers, as of 5:00 p.m., New York City time, on February 9, 2026 (the "Early Tender Date"), the Company had received valid tenders from the registered holders (the "Holders") of the Notes that were not validly withdrawn as set forth in the table below.

Title of Notes	CUSIP Number (1)	Aggregate Principal Amount Outstanding (2)	Acceptance Priority Level (3)	Aggregate Principal Amount Tendered at the Early Tender Date
3.000% Senior Notes due 2051	015271 AX7	$850,000,000	1	$497,602,000
3.550% Senior Notes due 2052	015271 AZ2	$1,000,000,000	2	$524,594,000
4.000% Senior Notes due 2050	015271 AS8	$700,000,000	3	$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)	As of January 27, 2026.
(3)	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.

The determination of the Total Consideration (as defined in the Offer to Purchase) will occur at 10:00 a.m., New York City time, on February 10, 2026.

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 registered holder 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, 5^th 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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did ARE (NYSE: ARE) announce on February 10, 2026 about its tender offers?

Alexandria announced early tender results and an upsized Aggregate Maximum Tender Amount to accept all early tenders. According to the company, as of Feb 9, 2026 holders tendered $497.602M (2051), $524.594M (2052) and $309.199M (2050) in principal.

How much principal was tendered for ARE's 3.000% senior notes due 2051 by the Early Tender Date?

Holders tendered $497.602 million of the 3.000% notes due 2051 by the Early Tender Date. According to the company, that figure is measured against $850.0 million aggregate principal outstanding as of Jan 27, 2026.

Will ARE accept notes tendered after the Early Tender Date for its Feb 2026 offers?

The company does not expect to accept tenders submitted after the Early Tender Date because early tenders equaled the Aggregate Maximum Tender Amount. According to the company, any late tenders will be returned to holders via the Depository Trust Company process.

Are Alexandria's tender offers for the 2050–2052 notes guaranteed to close after early acceptance?

No — acceptance and payment are conditioned on satisfaction or waiver of Financing Conditions. According to the company, the obligation to accept and pay for tendered notes remains subject to those financing conditions and other terms in the Offer to Purchase.

Who are the lead dealer managers and how can holders get more information about ARE's tender offers?

Lead Dealer Managers are Citigroup, Barclays and J.P. Morgan; additional co-dealers and the depositary are listed in the offer documents. According to the company, holders may contact the dealer managers or Global Bondholder Services for the Offer to Purchase and procedural questions.