Alexandria Real Estate Equities reported a $638.5 million third-quarter net loss attributable to common stockholders, including $637.9 million in real estate impairment charges tied to assets held for sale.
The life sciences property company reported a loss of $3.74 per diluted share, compared with $1.38 a year earlier, in its October 26 earnings release.
Adjusted funds from operations fell to $1.54 per diluted share from $2.22 in the third quarter of 2025. FFO is a supplemental real estate operating measure, not net income under generally accepted accounting principles.
Alexandria also disclosed that it completed the sale of an approximately 29% noncontrolling interest in its Campus Point by Alexandria Megacampus in October for $475 million to a new joint venture partner. That sale and $242 million of non-core property and land dispositions brought completed capital-recycling transactions to $717 million as of October 26.
Leasing volume reached approximately 1.24 million rentable square feet in the quarter, the company’s highest quarterly total since the fourth quarter of 2024. That included 450,961 square feet of previously vacant space. Rental rates on renewals and re-leased space declined 2.4%, or 3.3% on a cash basis.
Occupancy at operating properties was 87.1% at September 30. Including signed leases for space that tenants have not yet occupied, the figure was 90.8%. The company said it had collected 99.9% of third-quarter rents and receivables by October 26.
Alexandria reported $4.56 billion of liquidity and said it had extended its $5 billion unsecured senior credit line to 2032. The weighted-average remaining lease term across its tenant base was 7.7 years.
JBizNews Desk | Pasadena, California
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