Item 7.01. Regulation FD Disclosure.

Alexandria Real Estate Equities, Inc. (the "Company") previously provided
guidance as of December 1, 2020 for, among other things, earnings per share
("EPS"), funds from operations ("FFO") per share, and key sources and uses of
capital, for the Company's fiscal year ending December 31, 2021, which guidance
was included in its Form 8-K, filed with the Securities and Exchange Commission
on December 1, 2020. The Company hereby updates its guidance for 2021, including
key assumptions and sources and uses of capital. The key changes to guidance for
2021 are attached hereto as Exhibit 99.1 and incorporated herein by reference.
The guidance included in Exhibit 99.1 shall be deemed "filed" for the purposes
of Section 18 of the Securities Exchange Act of 1934.


Item 8.01. Other Events.



Recent Developments



Key Pending Acquisition




In January 2021, we entered into a definitive agreement to acquire 401 Park
Drive, 201 Brookline Avenue, and one future development opportunity, located in
the heart of our Greater Boston life science cluster market, for a purchase
price of $1.52 billion. The campus, aggregating 1.8 million RSF, consists of the
following:

· 401 Park Drive (operating property with future redevelopment opportunity)

· Highly amenitized Class A office/R&D building aggregating 973,145 RSF,

currently 93% occupied with a weighted-average remaining lease term of 8.8


   years

· 50% of annual rental revenue generated from investment-grade tenants

· In-place rents are 38% below market; 30% of the RSF has a weighted average

remaining lease term of 3.3 years with rents approximately 41% below market

· Initial stabilized yields of 5.7% and 4.5% (cash basis)

· Future opportunity to convert up to 221,000 RSF, or 23% of the building, to


   office/laboratory space

· 201 Brookline Avenue (active development)

· Office/laboratory building undergoing ground-up development, aggregating


   510,116 RSF, targeting initial occupancy in 2022

· 17% pre-leased to high-quality tenants

· Future development opportunity for one office/laboratory building for which we

are pursuing net new entitlement rights totaling approximately 400,000 SF of

office/lab plus retail, and common spaces. Achievement of entitlement rights

greater than 305,000 SF will increase our purchase price by a maximum of $97.9


   million.




Completed acquisitions



During the three months ended December 31, 2020, we completed the acquisition of
16 properties in key submarkets aggregating 3.3 million SF, including 1.9
million RSF of future value-creation opportunities, 383,000 RSF of active
redevelopment, and 1.0 million of operating RSF that is 80% occupied, for an
aggregate purchase price of $580.7 million.  Of the 1.0 million operating RSF,
approximately 50% has future development or redevelopment opportunities upon
expiration of existing leases in the near-term, and the acquired vacancy
represents lease-up opportunities that will contribute to growth in cash flows.

The following table summarizes the vacancy in our North America markets, representing lease-up opportunities at properties recently acquired, including those acquired during the three months ended December 31, 2020:







                                                              Projected
                                                       As of December 31, 2020                     As of September 30, 2020
                                                   Vacant                                       Vacant
Property                    Submarket/Market         RSF              Occupancy Impact            RSF             Occupancy Impact
Alexandria Center® for      Research
Life Science - Durham       Triangle/
                            Research
                            Triangle                   251,465                      0.8 %           251,465                     0.8 %
601, 611, and 651 Gateway   South San
Boulevard                   Francisco/San
                            Francisco                  199,895                      0.6             202,871                     0.7
SD Tech by Alexandria       Sorrento
                            Mesa/San Diego              86,812                      0.3              76,639                     0.2

5505 Morehouse Drive(1) Sorrento


                            Mesa/San Diego                 N/A                      N/A              71,021                     0.2
Other acquisitions(2)       Various                    445,419                      1.4             257,483                     0.9
                                                       983,591                      3.1 %           859,479                     2.8 %

(1) We commenced redevelopment activities on this property during the three

months ended December 31, 2020.

(2) Increase in vacant RSF primarily from a $11.9 million acquisition during the


     three months ended December 31, 2020.




Based on the changes in the acquired vacancy noted in the table above, we expect
operating occupancy in North America as of December 31, 2020 to be in a range
from 94.5% to 95.0%.

Completed and pending dispositions

During the three months ended December 31, 2020, we completed dispositions and sales of partial interest aggregating $884.9 million.

In December 2020, we committed to a plan to sell three office buildings aggregating 146,842 RSF, located in submarkets without significant nearby laboratory properties for a total estimated sales price of $78.1 million, including the buyer's assumption of a $28.2 million secured note payable. Upon our decision to sell these buildings, we recognized impairment charges aggregating $25.2 million. We expect to complete these sales in 2021.





Common Equity Transactions

During the three months ended December 31, 2020:

• We issued 1.8 million shares of common stock to settle our remaining forward

equity sales agreements that were outstanding at the beginning of the quarter

and received proceeds of $267.1 million.

• We issued 1.5 million shares of common stock under our ATM program at a price

of $159.09 per share (before underwriting discounts) and received proceeds of

$235.0 million.

• We sold 0.4 million shares under forward equity sales agreements that remain

outstanding under our ATM program at a price of $159.09 per share (before

underwriting discounts). We expect to settle these forward equity sales


     agreements in 2021.

As of December 31, 2020, the remaining aggregate amount available under our ATM program for future sales of common stock is $547.3 million.

Extinguishment of Secured Notes Payables

In December 2020, we extinguished two secured notes payable aggregating $108.2 million, due in 2023 with a weighted-average interest rate of 3.67%, and recognized losses on early extinguishment of debt of $7.3 million.

As a result of these extinguishments, we have no debt maturing until 2024.

Collection of Tenant Receivables

As of December 31, 2020, we have collected 99.6% of our December 2020 rents and tenant recoveries.

Updated Guidance as of January 5, 2021

We have updated key components of our 2021 guidance that was introduced on December 1, 2020 as follows:

• Key updates to sources and uses of capital ranges related to the pending

acquisition of 401 Park Drive, 201 Brookline Avenue and one future development


   opportunity:

• Acquisitions: $2.45 to $2.95 billion; $1.55 billion increase at midpoint


 • Construction: $1.6 to $1.9 billion; $90 million increase at midpoint

• Real estate dispositions, partial interest sales, and common equity: $3.1 to

$3.5 billion; $1.4 billion increase at midpoint

• Incremental debt: $605 to $865 million; $240 million increase at midpoint






•    Occupancy

• Decrease in operating occupancy as of December 31, 2021 of 60 basis points to

range from 95.6% to 96.2%, related to vacancy at recently acquired properties

during the three months ended December 31, 2020, and the pending acquisition

of 401 Park Drive and 201 Brookline Avenue. Vacancy at recently acquired


    properties represent opportunities for future growth in cash flows.

• See discussion of occupancy as of December 31, 2020 in the "Completed


   Acquisitions" section above




•    Interest expense and capitalized interest

• Capitalization of interest: $167 to $177 million; $21 million increase at


   midpoint

• Interest expense: $133 to $143 million; $16 million decrease at midpoint

Other than as updated above, there are no changes to our 2021 guidance that was introduced on December 1, 2020.

Item 9.01. Financial Statements and Exhibits.



(d) Exhibits



  99.1        Key Updates to 2021 Guidance issued by Alexandria Real Estate
            Equities, Inc. on January 5, 2021.
104         Cover Page Interactive Data File (embedded within the Inline XBRL
            document).


The exhibit referenced herein provides key assumptions included in our guidance
for the year ending December 31, 2021. Our expected sources and uses of capital
are subject to a number of variables and uncertainties, including those
discussed under the "Forward-looking statements" section under Part I and the
"Risk Factors" section under Item 1A of our Annual Report on Form 10-K for the
year ended December 31, 2019 and in our Quarterly Report on Form 10-Q for the
quarter ended September 30, 2020. We expect to update our forecast of sources
and uses of capital on a quarterly basis.

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