XML 92 R29.htm IDEA: XBRL DOCUMENT v3.24.0.1

Schedule III - Consolidated Financial Statement Schedule of Rental Properties and Accumulated Depreciation (Notes)

12 Months Ended

Dec. 31, 2023

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III - Consolidated Financial Statement Schedule of Rental Properties and Accumulated Depreciation

Alexandria Real Estate Equities, Inc. and Subsidiaries

Schedule III

Consolidated Financial Statement Schedule of Real Estate and Accumulated Depreciation

December 31, 2023

(Dollars in thousands)

																		Initial Costs												Costs Capitalized Subsequent to Acquisitions						Total Costs
Property						Market						Encumbrances						Land						Buildings & Improvements						Buildings & Improvements						Land						Buildings & Improvements						Total(1)						Accumulated Depreciation(2)						Net Cost Basis						Date of Construction(3)						Date Acquired
Alexandria Center® at Kendall Square						Greater Boston						$	—					$	600,178					$	926,555					$	1,947,990					$	600,178					$	2,874,545					$	3,474,723					$	(503,555)					$	2,971,168					1981 - 2023						2005 - 2022
Alexandria Center® at One Kendall Square						Greater Boston						—						405,164						576,213						1,104,541						405,164						1,680,754						2,085,918						(223,051)						1,862,867						1985 - 2023						2016 - 2022
Alexandria Technology Square®						Greater Boston						—						—						619,658						294,655						—						914,313						914,313						(365,871)						548,442						2001 - 2012						2006
The Arsenal on the Charles						Greater Boston						—						191,797						354,611						651,853						191,797						1,006,464						1,198,261						(75,217)						1,123,044						2000 - 2022						2019 - 2021
480 Arsenal Way and 446, 458, 500, and 550 Arsenal Street						Greater Boston						—						121,533						24,464						133,339						121,533						157,803						279,336						(70,773)						208,563						1962 - 2009						2000 - 2022
99 Coolidge Avenue						Greater Boston						119,042						43,125						—						248,830						43,125						248,830						291,955						(6)						291,949						N/A						2020
Alexandria Center® for Life Science – Fenway						Greater Boston						—						912,016						617,552						534,106						912,016						1,151,658						2,063,674						(58,969)						2,004,705						2019 - 2022						2021
5, 10, and 15 Necco Street						Greater Boston						—						277,554						55,897						356,438						277,554						412,335						689,889						(7,416)						682,473						2019						2019
One Moderna Way						Greater Boston						—						67,329						301,000						54,546						67,329						355,546						422,875						(32,696)						390,179						1999 - 2015						2018 - 2021
Alexandria Center® for Life Science – Waltham						Greater Boston						—						141,629						513,901						242,869						141,629						756,770						898,399						(21,848)						876,551						1999 - 2010						2020 - 2022
19, 215, 225, and 235 Presidential Way						Greater Boston						—						32,136						118,391						27,603						32,136						145,994						178,130						(32,179)						145,951						1999 - 2001						2005 - 2022
Other						Greater Boston						—						171,265						208,319						70,844						171,265						279,163						450,428						(4,744)						445,684						Various						Various
Alexandria Center® for Science and Technology – Mission Bay						San Francisco						—						213,014						218,556						668,907						213,014						887,463						1,100,477						(233,274)						867,203						2007 - 2014						2004 - 2017
Alexandria Technology Center® – Gateway						San Francisco						—						193,004						364,078						702,904						193,004						1,066,982						1,259,986						(171,828)						1,088,158						1984 - 2023						2002 - 2020
Alexandria Center® for Life Science – Millbrae						San Francisco						—						69,989						—						311,759						69,989						311,759						381,748						—						381,748						N/A						2021 - 2022
Alexandria Center® for Advanced Technologies – South San Francisco						San Francisco						—						59,199						—						546,295						59,199						546,295						605,494						(135,948)						469,546						2008 - 2019						2004 - 2005
Alexandria Center® for Advanced Technologies – Tanforan						San Francisco						—						330,154						51,145						51,161						330,154						102,306						432,460						(11,051)						421,409						1971 - 2007						2021 - 2022
Alexandria Center® for Life Science – South San Francisco						San Francisco						—						32,245						1,287						480,347						32,245						481,634						513,879						(139,392)						374,487						2012 - 2022						2002 - 2017
500 Forbes Boulevard						San Francisco						—						35,596						69,091						22,148						35,596						91,239						126,835						(35,880)						90,955						2001						2007
Alexandria Center® for Life Science – San Carlos						San Francisco						—						433,634						28,323						717,671						433,634						745,994						1,179,628						(86,306)						1,093,322						1970 - 2022						2017 - 2021
3825 and 3875 Fabian Way						San Francisco						—						194,424						54,519						14,737						194,424						69,256						263,680						(11,583)						252,097						1969 - 2014						2019
Alexandria Stanford Life Science District						San Francisco						—						—						599,401						115,138						—						714,539						714,539						(62,305)						652,234						2002 - 2022						2003 - 2022

																		Initial Costs												Costs Capitalized Subsequent to Acquisitions						Total Costs
Property						Market						Encumbrances						Land						Buildings & Improvements						Buildings & Improvements						Land						Buildings & Improvements						Total(1)						Accumulated Depreciation(2)						Net Cost Basis						Date of Construction(3)						Date Acquired
3412, 3420, 3440, 3450, and 3460 Hillview Avenue						San Francisco						$	—					$	—					$	304,318					$	88,966					$	—					$	393,284					$	393,284					$	(19,647)					$	373,637					1978 - 2018						2020 - 2021
2100, 2200, 2300, and 2400 Geng Road						San Francisco						—						72,859						53,309						35,856						72,859						89,165						162,024						(19,554)						142,470						1984 - 2019						2018
2475 and 2625/2627/2631 Hanover Street and 1450 Page Mill Road						San Francisco						—						—						187,472						12,988						—						200,460						200,460						(33,645)						166,815						2000 - 2017						1999 - 2021
2425 Garcia Avenue/2400/2450 Bayshore Parkway						San Francisco						619						1,512						21,323						26,281						1,512						47,604						49,116						(27,833)						21,283						2008						1999
3350 West Bayshore Road						San Francisco						—						4,800						6,693						45,079						4,800						51,772						56,572						(13,221)						43,351						1982						2005
901 California Avenue						San Francisco						—						—						—						16,419						—						16,419						16,419						—						16,419						N/A						2021
88 Bluxome Street						San Francisco						—						148,551						21,514						208,770						148,551						230,284						378,835						(23,098)						355,737						N/A						2017
Alexandria Center® for Life Science – New York City						New York City						—						—						—						1,102,566						—						1,102,566						1,102,566						(294,190)						808,376						2010 - 2016						2006
Alexandria Center® for Life Science – Long Island City						New York City						—						22,746						53,093						158,719						22,746						211,812						234,558						(7,486)						227,072						2022						2018
One Alexandria Square						San Diego						—						139,608						161,293						673,079						139,608						834,372						973,980						(236,264)						737,716						1995 - 2022						1994 - 2021
One Alexandria North						San Diego						—						103,937						1,354						37,971						103,937						39,325						143,262						(1,359)						141,903						1980 - 1990						2020
ARE Torrey Ridge						San Diego						—						22,124						152,840						85,391						22,124						238,231						260,355						(71,018)						189,337						2004 - 2021						2016
ARE Nautilus						San Diego						—						6,684						27,600						134,110						6,684						161,710						168,394						(70,628)						97,766						2009 - 2012						1994 - 1997
Campus Point by Alexandria						San Diego						—						200,556						396,739						703,166						200,556						1,099,905						1,300,461						(218,886)						1,081,575						1988 - 2019						2010 - 2022
5200 Illumina Way						San Diego						—						39,051						96,606						200,141						39,051						296,747						335,798						(81,880)						253,918						2004 - 2017						2010
ARE Esplanade						San Diego						—						9,682						29,991						117,777						9,682						147,768						157,450						(54,787)						102,663						1989 - 2016						1998 - 2011
ARE Towne Centre						San Diego						—						853						5,101						60,536						853						65,637						66,490						(48,747)						17,743						2000 - 2010						1999
9625 Towne Centre Drive						San Diego						—						7,686						14,586						65,762						7,686						80,348						88,034						(22,945)						65,089						2018						2014
Costa Verde by Alexandria						San Diego						—						124,070						—						26,487						124,070						26,487						150,557						(476)						150,081						1988 - 1989						2022
SD Tech by Alexandria						San Diego						—						81,428						254,069						438,643						81,428						692,712						774,140						(47,000)						727,140						1988 - 2022						2013 - 2020
Sequence District by Alexandria						San Diego						—						163,610						281,389						30,101						163,610						311,490						475,100						(19,262)						455,838						1997 - 2000						2020 - 2021
Pacific Technology Park						San Diego						—						96,796						66,660						27,088						96,796						93,748						190,544						(5,903)						184,641						1989 - 1991						2021
Summers Ridge Science Park						San Diego						—						21,154						102,046						4,782						21,154						106,828						127,982						(16,796)						111,186						2005						2018
Scripps Science Park by Alexandria						San Diego						—						79,451						59,343						98,047						79,451						157,390						236,841						(4,557)						232,284						2001 - 2022						2021 - 2022
ARE Portola						San Diego						—						6,991						25,153						41,147						6,991						66,300						73,291						(24,464)						48,827						2005 - 2012						2007
5810/5820 Nancy Ridge Drive						San Diego						—						3,492						18,285						33,468						3,492						51,753						55,245						(16,763)						38,482						2021						2004
9877 Waples Street						San Diego						—						5,092						11,908						13,289						5,092						25,197						30,289						(4,101)						26,188						2020						2020
5871 Oberlin Drive						San Diego						—						1,349						8,016						20,511						1,349						28,527						29,876						(5,174)						24,702						2021						2010
3911, 3931, 3985, 4025, 4031, 4045, and 4075 Sorrento Valley Boulevard						San Diego						—						18,177						42,723						38,176						18,177						80,899						99,076						(42,904)						56,172						2007 - 2015						2010 - 2019
11045 and 11055 Roselle Street						San Diego						—						1,386						4,288						33,803						1,386						38,091						39,477						(10,414)						29,063						2008 - 2014						2000 - 2013
Other						San Diego						—						104,737						70,212						65,226						104,737						135,438						240,175						(15,492)						224,683						Various						Various

																		Initial Costs												Costs Capitalized Subsequent to Acquisitions						Total Costs
Property						Market						Encumbrances						Land						Buildings & Improvements						Buildings & Improvements						Land						Buildings & Improvements						Total(1)						Accumulated Depreciation(2)						Net Cost Basis						Date of Construction(3)						Date Acquired
The Eastlake Life Science Campus by Alexandria						Seattle						$	—					$	47,230					$	83,012					$	1,017,765					$	47,230					$	1,100,777					$	1,148,007					$	(235,838)					$	912,169					1997 - 2023						2002 - 2022
Alexandria Center® for Life Science – South Lake Union						Seattle						—						229,607						1,128						425,392						229,607						426,520						656,127						(51,917)						604,210						1984 - 2017						2007 - 2022
219 Terry Avenue North						Seattle						—						1,819						2,302						20,898						1,819						23,200						25,019						(9,827)						15,192						2012						2007
830 and 1010 4th Avenue South						Seattle						—						52,700						12,062						15,016						52,700						27,078						79,778						(1,073)						78,705						1995						2020
3000/3018 Western Avenue						Seattle						—						1,432						7,497						24,890						1,432						32,387						33,819						(28,629)						5,190						2000						1998
410 West Harrison Street and 410 Elliott Avenue West						Seattle						—						3,857						1,989						20,434						3,857						22,423						26,280						(10,200)						16,080						2006 - 2008						2004
Alexandria Center® for Advanced Technologies – Canyon Park						Seattle						—						117,302						182,213						26,146						117,302						208,359						325,661						(13,803)						311,858						1985 - 2007						2021 - 2022
Alexandria Center® for Advanced Technologies – Monte Villa Parkway						Seattle						—						52,464						64,753						80,630						52,464						145,383						197,847						(2,772)						195,075						1994 - 2023						2020
Other						Seattle						—						78,900						931						24,453						78,900						25,384						104,284						(942)						103,342						Various						Various
Alexandria Center® for Life Science – Shady Grove						Maryland						—						85,365						253,567						653,805						85,365						907,372						992,737						(148,111)						844,626						1998 - 2023						2004 - 2021
1330 Piccard Drive						Maryland						—						2,800						11,533						37,915						2,800						49,448						52,248						(25,154)						27,094						2005						1997
1405 Research Boulevard						Maryland						—						899						21,946						15,818						899						37,764						38,663						(19,356)						19,307						2006						1997
1500 and 1550 East Gude Drive						Maryland						—						1,523						7,731						10,709						1,523						18,440						19,963						(11,916)						8,047						1995 - 2003						1997
5 Research Place						Maryland						—						1,466						5,708						31,235						1,466						36,943						38,409						(19,450)						18,959						2010						2001
5 Research Court						Maryland						—						1,647						13,258						24,110						1,647						37,368						39,015						(18,805)						20,210						2007						2004
12301 Parklawn Drive						Maryland						—						1,476						7,267						1,734						1,476						9,001						10,477						(4,096)						6,381						2007						2004
Alexandria Technology Center® – Gaithersburg I						Maryland						—						20,980						121,952						56,847						20,980						178,799						199,779						(60,439)						139,340						1992 - 2019						1997 - 2019
Alexandria Technology Center® – Gaithersburg II						Maryland						—						17,134						67,825						108,021						17,134						175,846						192,980						(47,157)						145,823						2000 - 2021						1997 - 2020
20400 Century Boulevard						Maryland						—						3,641						4,759						26,397						3,641						31,156						34,797						(3,667)						31,130						2023						2021
401 Professional Drive						Maryland						—						1,129						6,941						11,666						1,129						18,607						19,736						(10,023)						9,713						2007						1996
950 Wind River Lane						Maryland						—						2,400						10,620						1,591						2,400						12,211						14,611						(4,473)						10,138						2009						2010
620 Professional Drive						Maryland						—						784						4,705						8,268						784						12,973						13,757						(8,531)						5,226						2012						2005
8000/9000/10000 Virginia Manor Road						Maryland						—						—						13,679						11,706						—						25,385						25,385						(13,423)						11,962						2003						1998
14225 Newbrook Drive						Maryland						—						4,800						27,639						22,773						4,800						50,412						55,212						(23,219)						31,993						2006						1997
Alexandria Center® for Life Science – Durham						Research Triangle						—						190,236						471,263						252,275						190,236						723,538						913,774						(52,766)						861,008						1985 - 2023						2020 - 2022
Alexandria Center® for Advanced Technologies – Research Triangle						Research Triangle						—						27,784						16,958						256,806						27,784						273,764						301,548						(25,537)						276,011						2007 - 2022						2012 - 2021
Alexandria Center® for AgTech						Research Triangle						—						2,801						6,756						208,994						2,801						215,750						218,551						(25,683)						192,868						2018 - 2022						2017 - 2018
Alexandria Center® for Sustainable Technologies						Research Triangle						—						54,908						18,849						123,255						54,908						142,104						197,012						(51,203)						145,809						1966 - 2022						1998 - 2022

																		Initial Costs												Costs Capitalized Subsequent to Acquisitions						Total Costs
Property						Market						Encumbrances						Land						Buildings & Improvements						Buildings & Improvements						Land						Buildings & Improvements						Total(1)						Accumulated Depreciation(2)						Net Cost Basis						Date of Construction(3)						Date Acquired
Alexandria Technology Center® – Alston						Research Triangle						$	—					$	1,430					$	17,482					$	34,099					$	1,430					$	51,581					$	53,011					$	(28,919)					$	24,092					1985 - 2009						1998
6040 George Watts Hill Drive						Research Triangle						—						—						—						88,166						—						88,166						88,166						(6,806)						81,360						2015 - 2023						2014 - 2022
Alexandria Innovation Center® – Research Triangle						Research Triangle						—						1,065						21,218						31,979						1,065						53,197						54,262						(25,398)						28,864						2005 - 2008						2000
2525 East NC Highway 54						Research Triangle						—						713						12,827						20,750						713						33,577						34,290						(17,078)						17,212						1995						2004
601 Keystone Park Drive						Research Triangle						—						785						11,546						15,846						785						27,392						28,177						(8,861)						19,316						2009						2006
6101 Quadrangle Drive						Research Triangle						—						951						3,982						12,261						951						16,243						17,194						(5,064)						12,130						2012						2008
Alexandria Center® for NextGen Medicines						Research Triangle						—						94,184						—						10,358						94,184						10,358						104,542						—						104,542						N/A						2021
Intersection Campus						Texas						—						159,310						440,295						39,352						159,310						479,647						638,957						(23,934)						615,023						2000 - 2019						2021 - 2022
1001 Trinity Street and 1020 Red River Street						Texas						—						66,451						61,732						1,333						66,451						63,065						129,516						(1,942)						127,574						1987 - 1990						2022
Alexandria Center® for Advanced Technologies at The Woodlands						Texas						—						2,116						9,784						122,047						2,116						131,831						133,947						(669)						133,278						2002 - 2023						2020
Other						Texas						—						110,867						219						22,793						110,867						23,012						133,879						(122)						133,757						Various						Various
Canada						Canada						—						77,005						167,405						97,403						77,005						264,808						341,813						(34,320)						307,493						1989 - 2023						2005 - 2023
Various						Various						—						340,160						229,903						173,747						340,160						403,650						743,810						(157,298)						586,512						Various						Various
North America												119,661						7,875,488						10,606,121						18,132,709						7,875,488						28,738,830						36,614,318						(4,980,807)						31,633,511
Asia												—						—						—						4,212						—						4,212						4,212						(4,212)						—						2015						2008
												$	119,661					$	7,875,488					$	10,606,121					$	18,136,921					$	7,875,488					$	28,743,042					$	36,618,530					$	(4,985,019)					$	31,633,511

Alexandria Real Estate Equities, Inc.

Consolidated Financial Statement Schedule of Rental Properties and Accumulated Depreciation

December 31, 2023

(Dollars in thousands)

(1)As of December 31, 2023, the total cost of our real estate assets aggregated $36.6 billion, which exceeded the cost of real estate for federal income tax purposes aggregating $36.1 billion by approximately $483.2 million.

(2)The depreciable life ranges up to 40 years for buildings and improvements, up to 20 years for land improvements, and the term of the respective lease for tenant improvements.

(3)Represents the later of the date of original construction or the date of the latest renovation.

Alexandria Real Estate Equities, Inc.

Consolidated Financial Statement Schedule of Real Estate and Accumulated Depreciation

December 31, 2023

(In thousands)

    A summary of activity of consolidated investments in real estate and accumulated depreciation is as follows:

						December 31,
Real Estate						2023						2022						2021
Balance at beginning of period						$	34,299,503					$	28,751,910					$	21,274,810
Acquisitions (including real estate, land, and joint venture consolidation)						296,694						2,722,214						5,405,569
Additions to real estate						3,107,612						3,388,478						2,267,848
Deductions (including dispositions and direct financing leases)						(1,085,279)						(563,099)						(196,317)
Balance at end of period						$	36,618,530					$	34,299,503					$	28,751,910
						December 31,
Accumulated Depreciation						2023						2022						2021
Balance at beginning of period						$	4,354,063					$	3,771,241					$	3,182,438
Depreciation expense on properties						841,893						751,584						607,927
Sale of properties						(210,937)						(168,762)						(19,124)
Balance at end of period						$	4,985,019					$	4,354,063					$	3,771,241

X

- References

No definition available.

+ Details

Name:	srt_RealEstateAndAccumulatedDepreciationDisclosureAbstract
Namespace Prefix:	srt_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure of real estate investments and associated accumulated depreciation for entities with a significant portion of their business acquiring and holding investment real estate.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 28
-Publisher SEC

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 970
-SubTopic 360
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-28)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479438/970-360-S99-1

+ Details

Name:	srt_RealEstateAndAccumulatedDepreciationDisclosureTextBlock
Namespace Prefix:	srt_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration