Alexandria Real Estate Equities, a real estate investment trust based in Pasadena, Calif., has announced plans to offer 2.5 million shares of common stock.The office/laboratory REIT said the expected proceeds of approximately $240 million will be used to reduce the balance on its unsecured line of credit. Merrill Lynch, Pierce, Fenner & Smith Inc. and Banc of America Securities LLC are the joint book-running managers for the offering. The REIT has granted the underwriters an option to buy up to 375,000 additional shares to cover any overallotments.
REIT Plans Stock Offering
September 26, 2006, 2:00 p.m. EDT 1 Min Read
