Alexandria Real Estate Equities, Inc.'s Pioneering Social Responsibility Initiatives Continue to Drive Unique, Disruptive and Highly Impactful Solutions to Tackle Society's Most Complex and Pressing Challenges
PASADENA, Calif., Oct. 13, 2020 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), the first, longest-tenured and pioneering owner, operator and developer uniquely focused on collaborative life science, technology and agtech campuses in AAA innovation cluster locations, is profoundly committed to driving forward significant collaborative and innovative solutions to address some of today's most urgent and widespread societal challenges, including the COVID-19 pandemic, the opioid crisis, poverty and disparities in educational opportunities. As a mission-driven company at the vanguard and heart of the life science ecosystem, Alexandria aligns every aspect of its multifaceted business model and visionary social responsibility efforts to support its mission to advance human health, as well as to make highly impactful, tangible and positive results in its local communities. Through the company's tireless work in innovating transformational approaches and building strategic relationships with non-profit organizations doing groundbreaking operational work, in addition to its robust philanthropy, vigorous fundraising, impactful volunteerism, and experience and expertise at the board and functional levels, Alexandria is catalyzing and leading the way for positive and productive societal change.
At the Vanguard and Heart of the Life Science Ecosystem That Is Crucial to Advancing Innovative Solutions for COVID-19
Since the innovation of its Labspace® real estate in 1994, Alexandria has grown this niche platform into an essential mission-critical sector responsible for advancing the health and wellness of society. Alexandria has successfully delivered its mission-critical infrastructure to support the innovative work of its tenants, and since the outset of the COVID-19 pandemic earlier this year, the company has enabled nearly 100 of its tenants to focus on COVID-related and other vitally important diagnostics, testing, therapies, and vaccines.
Alexandria's world-class frontline teams have maintained operations across its campuses, enabling notable life sciences tenants (which include Abbott Laboratories, Adaptive Biotechnologies, Color, Cue Health, Laboratory Corporation of America Holdings, Quest Diagnostics, Quidel, Roche, Thermo Fisher Scientific and Verily Life Sciences) to continue their essential on-site operations as part of the industry's collective efforts to improve the quality, capacity and turnaround time for COVID-19 testing. To further optimize its infrastructure, Alexandria leveraged its network of experts to focus on the health, safety and well-being of its tenants and their employees by increasing and improving their access to testing at critical locations, such as New York City and Cambridge. The company has also pioneered and implemented robust, cutting-edge initiatives for safer buildings, which have been reviewed and validated by its dedicated COVID-19 Advisory Board, along with building optimization measures and operational protocols that encompass a variety of focus areas. Research-backed initiatives include informational health and safety graphics, disinfectant cleaning guidelines, improved air filtration, effective health security communications and the implementation of building-specific guidelines and policies that call for active cooperation of building occupants and service providers, including social distancing, daily pre-screening of employees and visitors, and the use of face coverings. For these measures, Alexandria was recognized by the Center for Active Design (CfAD), the operator of Fitwel®, as the first-ever company to achieve a Fitwel Viral Response Certification with Distinction, the highest designation within the new Viral Response Module developed by the world's leading healthy building certification system. Alexandria's comprehensive and industry-leading COVID–19 prevention guidelines and practices, which expand upon its existing rigorous health and safety standards, contributed to its tremendous accomplishment.
In conjunction with the uninterrupted operations of infrastructure at the onset of the pandemic's spread in the United States, Alexandria also invested mission-critical resources to help sustain individuals and institutions on the front line. The company sourced over 54,000 pieces of personal protective equipment worldwide and donated these mission-critical supplies to protect and support healthcare workers in some of the nation's hardest-hit cities, including New York City, Boston, Seattle, Los Angeles, and San Diego. Additionally, Alexandria has donated more than $1 million to several highly impactful national and regional organizations supporting communities severely affected by the pandemic, including ROAR (Relief Opportunities for All Restaurants), which makes financial relief available to New York City's more than 1 million restaurant workers, and Robin Hood, New York City's largest poverty-fighting organization, of which Alexandria's executive chairman and founder, Joel S. Marcus, has served on the board of directors since 2016.
"Joel and the entire Alexandria team have been instrumental partners and ardent supporters of Robin Hood and our mission to elevate New Yorkers out of poverty by funding non-profits focused on providing food, housing, education, legal services, workforce development and more to New Yorkers in need," said Wes Moore, CEO of Robin Hood. "New Yorkers living in poverty are among those hardest hit nationally by the COVID-19 pandemic, and Robin Hood's aid is more in demand than ever. As COVID-19 quickly struck New York City, Alexandria immediately answered our call to action with a significant donation to the Robin Hood COVID–19 Relief Fund, providing emergency financial assistance to individuals and families in need. As a member of our board of directors, it has been an honor and privilege to work hand in hand with Joel and witness an altruistic spirit that permeates throughout the entire Alexandria organization."
Pioneering a Fully Integrated Ecosystem to Reverse the Trajectory of the Opioid Epidemic and Support Addiction Recovery
Determined to reverse the trajectory of the U.S. opioid crisis, which is one of the most pervasive public health challenges in our nation's history and has resulted in more American lives lost each year since 2016 than lost in combat during the entire Vietnam War, Alexandria, in partnership with Verily, envisioned an innovative, non-profit healthcare ecosystem dedicated to the full and sustained recovery of people living with addiction, regardless of their health insurance status. To realize this collaborative vision, Alexandria and Verily pioneered a fully integrated campus strategy to house an evidence-based comprehensive treatment model encompassing a full continuum of care with dedicated facilities and services for treatment, residential housing, group therapy, family reunification, workforce development programs, job placement and community transition. As the strategic real estate partner in this mission-critical initiative, Alexandria catalyzed the vision for and led the design and development of the 4.3-acre, 59,000 RSF campus in Dayton, Ohio, aimed at revolutionizing the way addiction is treated. Alexandria and Verily subsequently brought in Kettering Health Network, Premier Health, state and local government and numerous community organizations. Since opening its Outpatient Clinic in the fall of 2019 and its Crisis Stabilization Unit in the winter of 2020, OneFifteen's integrated, evidence-based care model has served more than 1,500 patients and carried out more than 2,000 virtual visits. In September 2020, Alexandria delivered OneFifteen Living, a three-story residential housing facility that serves as a safe place for patients to live as they access on-campus treatment services.
"We are profoundly grateful to the Alexandria team for their outstanding work in leading the vision for and creating the OneFifteen campus, including the recent delivery of OneFifteen Living, which is an integral component to the success of our comprehensive model of care," said Marti Taylor, president and CEO of OneFifteen. "We would not exist today without Alexandria's passionate and meaningful vision and support of our mission to help people live healthy, addiction-free lives. It is an honor and privilege to work with an organization that is wholly dedicated to helping tackle the opioid epidemic and revitalizing our local communities."
As overdose deaths rise dramatically against the backdrop of the COVID-19 pandemic, Alexandria is committed to addressing this public health crisis and developing effective, scalable solutions that address it. It is Alexandria's hope that OneFifteen's groundbreaking, evidence-based, comprehensive treatment strategy will drive superior health outcomes and serve as a model of recovery for the rest of the country to replicate.
Empowering Students Through Educational Opportunities That Build Foundations and Pave Paths for Long-Term Success
Alexandria is deeply committed to driving educational opportunities and providing the support and resources needed to build the foundations for underprivileged students to succeed and become engaged, leading members of society. Understanding that education is one of the most fundamental foundations for a safe, healthy and good life and essential for opportunity and economic mobility, Alexandria has forged deep partnerships in its communities with highly impactful organizations that provide holistic educational resources to underserved populations.
In Durham, North Carolina, Alexandria works closely with the Emily Krzyzewski Center, a non-profit organization that paves a path to success in higher education for academically focused, low-income K–12 students. Through programs that build and accelerate students' scholastic skills, the center has supported exceptional achievement throughout the students' years in high school and higher education and in their careers. Students receive holistic support that encompasses academic skills development, personal management and leadership training, college planning and career exploration. Of those who have completed Emily K's Scholars to College program, 100% are accepted to college each year.
"Alexandria's immense support of the Emily K Center has had a significant and positive impact on the lives of countless students in our programs," said Mike "Coach K" Krzyzewski, founder of the Emily K Center and head coach of Duke Men's Basketball. "Since joining the Center's Board of Directors in 2018, Joel has been a tremendous asset in helping us optimize and expand our programming, which now serves more than 2,000 students annually. We are grateful to work alongside partners like Joel and Alexandria who share our mission of propelling academically focused students from low-income backgrounds toward success in college."
Alexandria, through its long-term, hands-on partnership with Computer Science for All (CS4ALL), is helping ensure that all of New York City's 1.1 million public school students, 72.8% of whom are considered low income, have access to high-quality computer science coursework throughout their K–12 education.
"As both a founding and sustaining donor to CS4ALL, Alexandria has been an integral part of the program's success since its launch in 2015," said Fred Wilson, founder, chair emeritus and vice-chair of CS4ALL and partner at Union Square Ventures. "Alexandria shares our belief that STEM education not only ensures a new generation of great innovators and problem solvers, but also that it is integral to preparing young people for academic success, the 21st-century job market and beyond. We are grateful to Alexandria for their passionate support of the CS4ALL initiative and working alongside them to provide computer science education to our public school students."
During this historic time marked by a global pandemic, an exacerbated opioid crisis, expanding poverty and widening educational disparities, the significance of Alexandria's vision and commitment to advance human health and improve the quality of people's lives in its communities has never been more relevant and more important. Alexandria continues to pioneer innovative, mission-driven solutions and partner with leading local and national non-profit organizations, medical research institutions, municipalities, dedicated partners, tenants and team members to drive scientific and technological breakthroughs that are key to advancing life-changing treatments for the world's most devastating diseases, enhancing underserved communities, heavily investing in educational resources to empower the next generation of innovators, and contributing to a more constructive and prosperous society for all.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500® urban office REIT, is the first, longest-tenured and pioneering owner, operator and developer uniquely focused on collaborative life science, technology and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $27.7 billion as of June 30, 2020, and an asset base in North America of 43.0 million SF. The asset base in North America includes 28.8 million RSF of operating properties and 2.3 million RSF of Class A properties undergoing construction, 6.6 million RSF of near-term and intermediate-term development and redevelopment projects and 5.3 million SF of future development projects. Founded in 1994, Alexandria pioneered this niche and has since established a significant market presence in key locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland and Research Triangle. Alexandria has a longstanding and proven track record of developing Class A properties clustered in urban life science, technology and agtech campuses that provide our innovative tenants with highly dynamic and collaborative environments that enhance their ability to successfully recruit and retain world-class talent and inspire productivity, efficiency, creativity and success. Alexandria also provides strategic capital to transformative life science, technology and agtech companies through our venture capital platform. We believe our unique business model and diligent underwriting ensure a high-quality and diverse tenant base that results in higher occupancy levels, longer lease terms, higher rental income, higher returns and greater long-term asset value. For more information on Alexandria, please visit www.are.com.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, without limitation, statements regarding the potential impacts of the COVID-19 pandemic, including its exacerbation of the opioid crisis, the potential effectiveness of any treatment approach to the opioid crisis or addiction, and effectiveness or performance of Alexandria's socially responsible initiatives, programs, policies, practices and investments. These forward-looking statements are based on Alexandria's present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by Alexandria's forward-looking statements as a result of a variety of factors. All forward-looking statements are made as of the date of this press release, and Alexandria assumes no obligation to update this information. For more discussion relating to risks and uncertainties that could cause actual results to differ materially from those anticipated in the company's forward-looking statements, and risks and uncertainties to the company's business in general, please refer to the company's filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and any subsequently filed quarterly reports on Form 10-Q.
CONTACT: Sara Kabakoff, Vice President – Corporate Communications, (626) 788-5578, skabakoff@are.com
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