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PASADENA, Calif., Jan. 5, 2021 /PRNewswire/ Alexandria Real Estate Equities, Inc. ( Alexandria or the Company ) (NYSE: ARE) today announced the pricing of its upsized public offering of 6,000,000 shares of the Company s common stock at a price of $164.00 per share in connection with the forward sale agreements described below. The Company also granted the underwriters a 30-day option to purchase up to 900,000 additional shares. The offering is expected to close on or about January 8, 2021, subject to customary closing conditions.
J.P. Morgan, BofA Securities, Citigroup, Goldman Sachs & Co. LLC and RBC Capital Markets are acting as joint book-running managers for the offering. BTIG, Mizuho Securities, Scotiabank, SMBC Nikko, Barclays, BNP PARIBAS and Truist Securities are acting as book-running managers for the offering. Baird, Evercore ISI, JMP Securities LLC, BBVA, Capital One Securities, Fifth Third Securities, PNC Capital Market
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From top: 355 Exterior Street in the Bronx, 55-15 Grand Avenue in Queens and 700 Atlantic Avenue in Brooklyn (Google Maps)
Planning a new development project in New York City is not for the faint of heart, but some builders remained undeterred in 2020 even in the face of the Covid-19 pandemic, as well as rising anti-development sentiment.
This year saw the defeat of the Industry City rezoning, which would have transformed Sunset Park, as well as the Olnick Organization’s Lenox Terrace expansion. There was a near-miss with the Special Flushing Waterfront District, which was ultimately approved, and in November, the highest court in the state rescued the Inwood rezoning from ruin.
Westlake Village BioPartners on Tuesday announced two new funds totaling $500 million to invest in life science startups and construct lab facilities for them.
The Westlake Village venture capital firm is working with Alexandria Real Estate Equities Inc. in Pasadena to build out laboratory and office space in Thousand Oaks for many of its portfolio startups.
So far, Alexandria has finished 30,000 square feet of space as part of a 130,000-square-foot, three-building campus in Thousand Oaks, according to Alexandria Chief Executive Joel Marcus. The space currently houses five Westlake startups from its 2018 fund, and will take on two more companies financed by the firm’s latest rounds.
Westlake Village BioPartners Launches Two Funds Totaling $500M
Westlake Village BioPartners has launched two new funds totaling $500m.
The new vehicles will enable the firm to build and invest in promising life sciences companies with transformative human therapeutic technologies.
The first fund, known as Opportunity 1, is $70m and allows Westlake to invest additional Series B or later-round capital into promising companies they incubated or invested in with their original fund, Westlake BioPartners 1 (WBP1).
The second fund, Westlake Village BioPartners 2 Fund (WBP2), is $430m and will focus on incubating and investing in approximately 12 Series A startups or co-lead Series A rounds with other investors, and will also allow for additional Series B or later-round investments in the most promising of these companies.