Alexandria Real Estate Equities, a real estate investment trust based in Pasadena, Calif., has announced plans to offer 1.2 million shares of common stock.The office/laboratory REIT said the expected proceeds of approximately $97.2 million will be used to reduce the balance on its $500 million unsecured line of credit and for general corporate purposes. A.G. Edwards & Sons Inc. is the sole book-running manager for the offering. The REIT has granted the underwriter an option to buy up to 180,000 additional shares to cover any overallotments.
REIT Plans Stock Offering
September 21, 2005, 2:00 p.m. EDT 1 Min Read
