The company said, “Changes to our guidance for 2024 key sources and uses of capital include a $150M increase to the midpoint of our guidance range for dispositions, sales of partial interests, and common equity primarily to fund the first $135M installment of the ground lease prepayment at our Alexandria Technology Square mega campus aggregating 1.2M RSF in our Cambridge submarket due in the fourth quarter of 2024 in connection with an amendment of our existing ground lease agreement to extend the term of the lease by 24 years from January 1, 2065 to December 31, 2088. Refer to “Subsequent event” in the Earnings Press Release for additional information.”
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Read More on ARE:
- Alexandria Real Estate Equities, Inc. Reports: 2Q24 and 1H24 Net Income per Share – Diluted of $0.25 and $1.22, respectively; and 2Q24 and 1H24 FFO per Share – Diluted, as Adjusted, of $2.36 and $4.71, respectively
- Is ARE a Buy, Before Earnings?
- Alexandria Real Estate price target raised to $133 from $132 at Evercore ISI
- Alexandria Real Estate announces long-term 127,382 RSF lease
- Alexandria Real Estate increases quarterly dividend 3c to $1.30 per share
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