Alexandria Real Estate to reduce line of credit balance via new notes

By Sarah Lizee

Olympia, Wash., March 12 – Alexandria Real Estate Equities, Inc. plans to reduce the outstanding balance under its unsecured line of credit using proceeds from a new offering of senior notes in three tranches, according to a press release.

Remaining proceeds will be allocated to recently completed and future eligible green projects, repayment of a secured note payable related to a recently completed class A development property and general corporate purposes.

Alexandria is a Pasadena, Calif.-based owner and operator of real estate and technical infrastructure for the life science industry.

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