Alexandria Sells Stakes In Megacampuses To Weather Life Sciences Downturn
Alexandria Real Estate Equities (ARE) sold stakes in its life sciences campuses, including a 29% stake in Campus Point (San Diego) for $475M, due to market downturn. The company reported a $638.5M Q3 loss, declining rents, and forecast lease expirations. ARE raised $1B in debt and expects to meet sales targets. Occupancy slightly improved to 87.1%.



