PASADENA, Calif., Sept. 12, 2019 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), an urban office REIT and the first and longest-tenured owner, operator and developer uniquely focused on collaborative life science, technology and agtech campuses in AAA innovation cluster locations, today announced that it has achieved a Global Real Estate Sustainability Benchmark (GRESB) 5 Star Rating, receiving 5 out of 5 stars—the highest rating within the benchmark. Alexandria also maintained its "A" disclosure score for the second straight year and earned its third consecutive "Green Star" designation. GRESB is the leading global environmental, social and governance (ESG) benchmark for real estate and infrastructure investments across the world.
In continuing its strategic collaboration with GRESB, this afternoon Alexandria will host the 2019 GRESB Real Estate Results Launch for North America to bring together the global real estate community for a unique and engaging forum at the world-class Alexandria Center® for Life Science – New York City. The program will feature a 2019 GRESB assessment results presentation and panel discussions with leading investors and industry professionals on emerging trends and the current state of sustainability in real estate. Alexandria will moderate the panel discussion on key sustainability and real estate trends that have the potential to impact the next 10 years.
"We are honored to receive these prestigious recognitions from GRESB, which reinforce our continued dedication to and execution on our industry-leading ESG initiatives," said Dean A. Shigenaga, co-president and chief financial officer of Alexandria Real Estate Equities, Inc. "We are also proud to partner with GRESB to raise awareness about the importance and benefits of sustainability performance disclosure and reporting. As a mission-driven REIT focused on creating vibrant environments to support innovation and advance human health, we remain steadfast in our commitment to making a positive and meaningful impact on the communities in which we live and work, and on the world at large."
Alexandria's "A" disclosure score and "Green Star" designation from GRESB reflect its strong ESG policies, practices and performance across its approximately 24 million RSF of operating properties, including its proactive approach to addressing impacts of climate change as well as its longstanding leadership in promoting health and wellness. The company's key sustainability programs, goals for 2025 and accomplishments across the ESG realms to date are showcased in its 2018 Corporate Responsibility Report, which incorporates guidelines from the Global Reporting Initiative (GRI) and the Task Force on Climate-related Financial Disclosures (TCFD). Notable achievements include reducing its like-for-like carbon pollution by 14.5% since 2015, receiving the inaugural Best in Building Health Company Award from Fitwel and achieving two LEED® Platinum certifications while meeting its target to achieve LEED® Gold or Platinum certification on all new ground-up developments delivered in 2018.
Alexandria's noteworthy GRESB results follow its announcements in June 2019 that it had received its fourth Nareit Gold Investor CARE (Communications & Reporting Excellence) Award in the Large Cap Equity REIT category for superior shareholder communications and reporting excellence and that it released its inaugural Green Bond Allocation Report, which focuses on the company's progress in allocating its green bond proceeds and provides related environmental impact metrics. Since June 2018, the company has issued $1 billion in green bonds.
To learn more about Alexandria's corporate responsibility program, please visit www.are.com/corporate-responsibility.html.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE:ARE), an S&P 500® urban office REIT, is the first and longest-tenured owner, operator and developer uniquely focused on collaborative life science, technology and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $22.2 billion as of June 30, 2019, and an asset base in North America of 34.3 million SF. The asset base in North America includes 23.6 million RSF of operating properties; 1.5 million RSF undergoing construction with projected initial occupancy in 2019, which is 90% leased; and 9.2 million SF of near-term, intermediate-term and future development and redevelopment projects. Founded in 1994, Alexandria pioneered this niche and has since established a significant market presence in key locations, including Greater Boston, San Francisco, New York City, San Diego, Seattle, Maryland and Research Triangle. Alexandria has a longstanding and proven track record of developing Class A properties clustered in urban life science, technology and agtech 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, technology and agtech companies through our venture capital arm. 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, please visit www.are.com.
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 ESG policies, practices and performance, its 2025 sustainability goals and its LEED and healthy building certifications. 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. All forward-looking statements are made as of the date of this press release, and Alexandria assumes no obligation to update this information.
CONTACT: Sara Kabakoff, Assistant Vice President – Corporate Communications, Alexandria Real Estate Equities, Inc., (626) 788-5578
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