{"id":900756,"date":"2025-10-27T16:34:03","date_gmt":"2025-10-27T20:34:03","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share-diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share-diluted-as-adjusted-of-2-22\/"},"modified":"2025-10-27T16:34:03","modified_gmt":"2025-10-27T20:34:03","slug":"alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share-diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share-diluted-as-adjusted-of-2-22","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share-diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share-diluted-as-adjusted-of-2-22\/","title":{"rendered":"Alexandria Real Estate Equities, Inc. Reports: 3Q25 and YTD 3Q25 Net Loss per Share &#8211; Diluted of $(1.38) and $(2.09), respectively; and 3Q25 and YTD 3Q25 FFO per Share &#8211; Diluted, as Adjusted, of $2.22 and $6.85, respectively"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2080\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/2060728\/Alexandria_Real_Estate_Logo.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/2060728\/Alexandria_Real_Estate_Logo.jpg\" title=\"(PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" alt=\"(PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\n        <span class=\"legendSpanClass\"><br \/>\n          <span class=\"xn-location\">PASADENA, Calif.<\/span><br \/>\n        <\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Oct. 27, 2025<\/span><\/span> \/PRNewswire\/ &#8212; Alexandria Real Estate Equities, Inc. (NYSE: ARE) announced financial and operating results for the third quarter ended <span class=\"xn-chron\">September 30, 2025<\/span>.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder7981\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/2805406\/3Q25_EX_99_1_SUPP_Page_01.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/2805406\/3Q25_EX_99_1_SUPP_Page_01.jpg\" title=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" alt=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder8918\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/2805403\/3Q25_EX_99_1_SUPP_Page_02.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/2805403\/3Q25_EX_99_1_SUPP_Page_02.jpg\" title=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" alt=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder3797\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/2805405\/3Q25_EX_99_1_SUPP_Page_03.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/2805405\/3Q25_EX_99_1_SUPP_Page_03.jpg\" title=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" alt=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder9901\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/2805407\/3Q25_EX_99_1_SUPP_Page_04.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/2805407\/3Q25_EX_99_1_SUPP_Page_04.jpg\" title=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" alt=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder4060\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/2805404\/3Q25_EX_99_1_SUPP_Page_05.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/2805404\/3Q25_EX_99_1_SUPP_Page_05.jpg\" title=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" alt=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder6483\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/2805402\/3Q25_EX_99_1_SUPP_Page_06.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/2805402\/3Q25_EX_99_1_SUPP_Page_06.jpg\" title=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" alt=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder3901\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/2805400\/3Q25_EX_99_1_SUPP_Page_07.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/2805400\/3Q25_EX_99_1_SUPP_Page_07.jpg\" title=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" alt=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder7748\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/2805399\/3Q25_EX_99_1_SUPP_Page_08.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/2805399\/3Q25_EX_99_1_SUPP_Page_08.jpg\" title=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" alt=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder9875\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/2805398\/3Q25_EX_99_1_SUPP_Page_09.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/2805398\/3Q25_EX_99_1_SUPP_Page_09.jpg\" title=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" alt=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder4879\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/2805397\/3Q25_EX_99_1_SUPP_Page_10.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/2805397\/3Q25_EX_99_1_SUPP_Page_10.jpg\" title=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" alt=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder8311\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/2805395\/3Q25_EX_99_1_SUPP_Page_11.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/2805395\/3Q25_EX_99_1_SUPP_Page_11.jpg\" title=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" alt=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder3351\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/2805394\/3Q25_EX_99_1_SUPP_Page_12.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/2805394\/3Q25_EX_99_1_SUPP_Page_12.jpg\" title=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" alt=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder7901\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/2805393\/3Q25_EX_99_1_SUPP_Page_13.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/2805393\/3Q25_EX_99_1_SUPP_Page_13.jpg\" title=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" alt=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder7754\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/2805392\/3Q25_EX_99_1_SUPP_Page_14.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/2805392\/3Q25_EX_99_1_SUPP_Page_14.jpg\" title=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" alt=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1629\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/2805396\/3Q25_EX_99_1_SUPP_Page_15.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/2805396\/3Q25_EX_99_1_SUPP_Page_15.jpg\" title=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" alt=\"Alexandria Real Estate Equities, Inc. All Rights Reserved. \u00a92025 (PRNewsfoto\/Alexandria Real Estate Equities, Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <u>Key highlights<\/u><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"3\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">YTD<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <i><br \/>\n                    <u>Operating results<\/u><br \/>\n                  <\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3Q25<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3Q24<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3Q25<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prnpr2 prnpl2 prnvab prntac prncbts prnbbbs\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3Q24<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"9\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Net (loss) income attributable to Alexandria&#8217;s common stockholders \u2013 diluted:<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">\u00a0 In millions<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (234.9)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 164.7<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (356.1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 374.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">\u00a0 Per share<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0 \u00a0 \u00a0 \u00a0 \u00a0(1.38)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.96<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (2.09)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.18<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"8\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Funds from operations attributable to Alexandria&#8217;s common stockholders \u2013 diluted, as adjusted:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">\u00a0 In millions<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 377.8<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 407.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0 1,166.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0 1,217.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">\u00a0 Per share<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.22<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.37<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6.85<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 7.08<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <i><br \/>\n          <u>A sector-leading REIT with a high-quality, diverse tenant base, strong margins, and long lease terms<\/u><br \/>\n        <\/i>\n      <\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>(As of September\u00a030, 2025, unless stated otherwise)<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Occupancy of operating properties in North America<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">90.6\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Percentage of annual rental revenue in effect from Megacampus\u2122 platform<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">77\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Percentage of annual rental revenue in effect from investment-grade or publicly\u00a0traded large cap tenants<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">53\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Operating margin<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">68\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Adjusted EBITDA margin<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">71\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Percentage of leases containing annual rent escalations<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">97\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Weighted-average remaining lease term:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">\u00a0Top 20 tenants<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">years<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">\u00a0All tenants<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">7.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">years<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Strong 3Q25 tenant collections:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">\u00a0 3Q25 tenant rents and receivables collected as of October 27, 2025<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">99.9\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <i><br \/>\n          <u>Strong and flexible balance sheet with significant liquidity; top 15% credit rating ranking among all publicly traded U.S. REITs<\/u><br \/>\n        <\/i>\n      <\/p>\n<ul type=\"disc\">\n<li>\n          <span class=\"xn-money\">$27.8 billion<\/span> in total market capitalization.<\/li>\n<li>\n          <span class=\"xn-money\">$14.2 billion<\/span> in total equity capitalization.<\/li>\n<li>Net debt and preferred stock to Adjusted EBITDA of 6.1x and fixed-charge coverage ratio of 3.9x for 3Q25 annualized, with 4Q25 annualized targets of 5.5x to 6.0x and 3.6x to 4.1x, respectively.<\/li>\n<li>Significant liquidity of <span class=\"xn-money\">$4.2 billion<\/span>, or 4.2x our debt maturities through 2027.<\/li>\n<li>Only 7% of our total debt matures through 2027.<\/li>\n<li>11.6 years weighted-average remaining term of debt, longest among S&amp;P 500 REITs.<\/li>\n<li>Since 2021, our quarter-end fixed-rate debt has averaged 96.7%.<\/li>\n<li>Total debt and preferred stock to gross assets of 31%.<\/li>\n<li>\n          <span class=\"xn-money\">$166.9 million<\/span> of capital contribution commitments from existing real estate joint venture partners to fund construction from 4Q25 through 2027 and beyond.<\/li>\n<\/ul>\n<p>\n        <i><br \/>\n          <u>Solid leasing volume and rental rate increases<\/u><br \/>\n        <\/i>\n      <\/p>\n<ul type=\"disc\">\n<li>Leasing volume of 1.2 million RSF during 3Q25.\n<ul type=\"disc\">\n<li>Includes the largest life science lease in company history with a long-standing multinational pharmaceutical tenant for a 16-year build-to-suit lease expansion aggregating 466,598 RSF, located on the Campus Point by Alexandria Megacampus in our University Town Center submarket.<\/li>\n<li>Leasing of previously vacant space aggregating 256,633 RSF, up 40%, over the quarterly average over the last five quarters.<\/li>\n<\/ul>\n<\/li>\n<li>Rental rate increases on lease renewals and re-leasing of space of 15.2% and 6.1% (cash basis) for 3Q25 and 13.6% and 6.8% (cash basis) for YTD 3Q25.<\/li>\n<li>82% of our leasing activity during the last twelve months was generated from our existing tenant base.<\/li>\n<\/ul>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3Q25<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">YTD 3Q25<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Lease renewals and re-leasing of space:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">\u00a0 Rental rate increase<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">15.2\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">13.6\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">\u00a0 Rental rate increase (cash basis)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6.1\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6.8\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">\u00a0 RSF<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">354,367<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,722,184<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Leasing of previously vacant space \u2013 RSF<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">256,633<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">550,986<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Leasing of development and redevelopment space \u2013 RSF<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">560,344<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">698,542<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total leasing activity \u2013 RSF<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,171,344<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,971,712<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <i><br \/>\n          <u>Dividend strategy to share net cash flows from operating activities with stockholders while retaining a significant portion for reinvestment<\/u><br \/>\n        <\/i>\n      <\/p>\n<ul type=\"disc\">\n<li>Common stock dividend declared of <span class=\"xn-money\">$1.32<\/span> per share for 3Q25, aggregating <span class=\"xn-money\">$5.28<\/span> per common share for the twelve months ended <span class=\"xn-chron\">September 30, 2025<\/span>, up <span class=\"xn-money\">14 cents<\/span>, or 2.7%, over the twelve months ended <span class=\"xn-chron\">September 30, 2024<\/span>.<\/li>\n<li>Dividend yield of 6.3% as of <span class=\"xn-chron\">September 30, 2025<\/span> and dividend payout ratio of 60% for the three months ended <span class=\"xn-chron\">September 30, 2025<\/span>.<\/li>\n<li>Significant net cash flows provided by operating activities after dividends retained for reinvestment aggregating <span class=\"xn-money\">$2.3 billion<\/span> for the years ended <span class=\"xn-chron\">December 31, 2021<\/span> through 2024 and the midpoint of our 2025 guidance range.<\/li>\n<li>In addition, as described in the &#8220;2026 Considerations&#8221; section of guidance, in light of market and life science industry conditions and our continued focus on capital efficiency, our Board of Directors expects to carefully evaluate our 2026 dividend strategy.<\/li>\n<\/ul>\n<p>\n        <i><br \/>\n          <u>Ongoing execution of <span class=\"xn-location\">Alexandria&#8217;s<\/span> 2025 capital recycling strategy<\/u><br \/>\n        <\/i>\n      <\/p>\n<p>We expect to fund a significant portion of our capital requirements for the year ending <span class=\"xn-chron\">December 31, 2025<\/span> through dispositions of non-core assets, land, partial interest sales, and sales to owner\/users. We expect dispositions of land to represent 20%\u201330% of our total dispositions and sales of partial interests for 2025.<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>(dollars in millions)<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Sales Price<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total dispositions completed as of October 27, 2025<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 508<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Our share of pending transactions subject to non-refundable deposits, signed letters of<br \/>\u00a0 \u00a0 intent, and\/or purchase and sale agreement negotiations<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,032<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Our share of completed and pending 2025 dispositions and sales of partial interests<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,540<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(1)<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Excludes an exchange of partial interests of Pacific Technology Park and 199 East Blaine Street with nominal net cash proceeds. Refer to &#8220;Dispositions and exchange of partial interests&#8221; in the Earnings Press Release for additional details.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <i><br \/>\n          <u>Leasing progress on temporary vacancy<\/u><br \/>\n        <\/i>\n      <\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Operating occupancy as of June 30, 2025<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">90.8\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Assets with vacancy designated as held for sale during 3Q25 now excluded from <br \/>\u00a0 operating occupancy and expected to be sold primarily in 4Q25<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Reduction in occupancy, primarily from 3Q25 lease expirations<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1.1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(1)<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Operating occupancy as of September\u00a030, 2025<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">90.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Key vacant space leased with future delivery<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(2)<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Operating occupancy as of September\u00a030, 2025, including leased but not yet <br \/>\u00a0 \u00a0delivered space<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">92.2\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Comprises the following: (i) 0.3% related to lease expirations that became vacant in 3Q25 and have been re-leased with a future delivery upon completion of construction (and is included in item 2 below); (ii) 0.2% vacancy at one asset in our Greater Stanford submarket, which was recently acquired with the intent to redevelop office to laboratory space but for which we are now evaluating options to reposition for advanced technologies use; and (iii) 0.6% of other occupancy declines, primarily from space that became vacant during 3Q25 which we are currently marketing. These lease expirations resulting in the 1.1% decline in occupancy previously generated annual rental revenue aggregating approximately $29.0 million and had a weighted-average lease expiration date at the end of July 2025.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Represents temporary vacancies as of September 30, 2025 aggregating 617,458 RSF, primarily in the Greater Boston, San Francisco Bay Area, San Diego, and Seattle markets, that are leased and expected to be occupied upon completion of building and\/or tenant improvements. The weighted-average expected delivery date is approximately May\u00a01, 2026 and the expected annual rental revenue is approximately $46 million.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <i><br \/>\n          <u>Key operating metrics<\/u><br \/>\n        <\/i>\n      <\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Operating metrics<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3Q25<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">YTD 3Q25<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>(dollars in millions)<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Net operating income (cash basis) \u2013 annualized<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0 1,928<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(1)<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0 1,975<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">(Decline)\/Increase compared to 3Q24 and YTD 3Q24, annualized<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(5.8)\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(2)<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.3\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(2)<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Same property performance:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Net operating income changes<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(6.0)\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3.1)\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Net operating income changes (cash basis) <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3.1)\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3.0\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Occupancy \u2013 current-period average<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">91.4\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">92.6\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Occupancy \u2013 same-period prior-year average<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">94.8\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">94.6\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen28\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Quarter annualized.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Decrease in net operating income (cash basis) includes the impact of operating properties disposed of after January 1, 2024. Excluding these dispositions, net operating income (cash basis) \u2013 annualized for the three months ended September 30, 2025 would have decreased by 1.2%, and for the nine months ended September 30, 2025 would have increased by 7.3%, compared to the corresponding periods in 2024.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<ul type=\"disc\">\n<li>General and administrative expenses of <span class=\"xn-money\">$89.0 million<\/span> for YTD 3Q25, representing cost reductions of <span class=\"xn-money\">$46.6 million<\/span> or 34%, compared to YTD 3Q24, primarily the result of cost-control and efficiency initiatives related to reducing personnel-related costs and streamlining business processes. Given that some of these cost savings are expected to be temporary in nature, we anticipate approximately half of the cost reduction expected to be achieved in 2025 will continue in 2026.\n<ul type=\"disc\">\n<li>As a percentage of net operating income, our general and administrative expenses for the trailing twelve months ended <span class=\"xn-chron\">September 30, 2025<\/span> were 5.7% \u2014 the lowest level in the past ten years and approximately half the average of other S&amp;P 500 REITs.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>\n        <i><br \/>\n          <u><br \/>\n            <span class=\"xn-location\">Alexandria&#8217;s<\/span> development and redevelopment pipeline delivered incremental annual net operating income of <span class=\"xn-money\">$16 million<\/span> commencing during 3Q25, with an additional <span class=\"xn-money\">$111 million<\/span> of incremental annual net operating income anticipated to deliver by 4Q26 primarily from projects that are 80% leased\/negotiating<\/u><br \/>\n        <\/i>\n      <\/p>\n<ul type=\"disc\">\n<li>During 3Q25, we placed into service development projects aggregating 185,517 RSF that are 89% occupied across multiple submarkets and delivered incremental annual net operating income of <span class=\"xn-money\">$16 million<\/span>.\n<ul type=\"disc\">\n<li>A significant 3Q25 delivery consisted of 122,302 RSF at 10935, 10945, and 10955 Alexandria Way on the One Alexandria Square Megacampus in our <span class=\"xn-location\">Torrey Pines<\/span> submarket.<\/li>\n<\/ul>\n<\/li>\n<li>Annual net operating income (cash basis) from recently delivered projects is expected to increase by <span class=\"xn-money\">$50 million<\/span> upon the burn-off of initial free rent, which has a weighted-average remaining period of approximately three months.<\/li>\n<li>During 1Q25\u20134Q26, we expect to deliver annual net operating income representing nearly 8% growth in total net operating income from 2024 from projects that are 85% leased.<\/li>\n<li>76% of the RSF in our total development and redevelopment pipeline is within our Megacampus ecosystems.<\/li>\n<\/ul>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Development and Redevelopment Projects<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Incremental <\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Annual Net<br \/>Operating Income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RSF<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Occupied\/<br \/>Leased\/<br \/>Negotiating<\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Percentage<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>(dollars in millions)<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen29\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen29\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Placed into service:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">\u00a01H25<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 52<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">527,268<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">96\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">\u00a03Q25<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">16<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">185,517<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">89<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Placed into service in YTD 3Q25<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 68<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(1)<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">712,785<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">94\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Expected to be placed into service:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">\u00a04Q25 through 4Q26<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 111<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(2)<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">969,524<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(3)<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">80\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(4)<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Excludes future incremental annual net operating income from recently delivered spaces aggregating 42,449 RSF that were vacant and\/or unleased at delivery.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Includes expected partial deliveries through 4Q26 from projects expected to stabilize in 2027 and beyond, including speculative future leasing that is not yet fully committed. Refer to the initial and stabilized occupancy years under &#8220;New Class A\/A+ development and redevelopment properties: current projects&#8221; in the Supplemental Information for additional details.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Represents the RSF related to projects expected to stabilize by 4Q26. Does not include RSF for partial deliveries through 4Q26 from projects expected to stabilize in 2027 and beyond.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(4)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Represents the current leased\/negotiating percentage of development and redevelopment projects that are expected to stabilize during 4Q25 through 4Q26.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b><br \/>\n          <u>Strong and flexible balance sheet<\/u><br \/>\n        <\/b>\n      <\/p>\n<p>\n        <i><br \/>\n          <u>Key capital events<\/u><br \/>\n        <\/i>\n      <\/p>\n<ul type=\"disc\">\n<li>In <span class=\"xn-chron\">August 2025<\/span>, we repaid a secured construction loan aggregating <span class=\"xn-money\">$154.6 million<\/span> with an interest rate of 7.18%, which was secured by our development project at 99 Coolidge Avenue in our <span class=\"xn-location\">Cambridge<\/span>\/Inner Suburbs submarket. The project is currently 81% leased\/negotiating and is expected to be delivered in 4Q26. In connection with the repayment, we recognized a loss on early extinguishment of debt of <span class=\"xn-money\">$107 thousand<\/span> for the write-off of unamortized deferred financing costs in 3Q25.<\/li>\n<\/ul>\n<p>\n        <i><br \/>\n          <u>Investments<\/u><br \/>\n        <\/i>\n      <\/p>\n<ul type=\"disc\">\n<li>As of <span class=\"xn-chron\">September 30, 2025<\/span>:\n<ul type=\"disc\">\n<li>Our non-real estate investments aggregated <span class=\"xn-money\">$1.5 billion<\/span>.<\/li>\n<li>Unrealized gains presented in our consolidated balance sheet were <span class=\"xn-money\">$28.3 million<\/span>, comprising gross unrealized gains and losses aggregating <span class=\"xn-money\">$180.4 million<\/span> and <span class=\"xn-money\">$152.1 million<\/span>, respectively.<\/li>\n<\/ul>\n<\/li>\n<li>Investment income of <span class=\"xn-money\">$28.2 million<\/span> for 3Q25 presented in our consolidated statement of operations consisted of <span class=\"xn-money\">$34.8 million<\/span> of realized gains, <span class=\"xn-money\">$18.5 million<\/span> of unrealized gains, and <span class=\"xn-money\">$25.1 million<\/span> of impairment charges.<\/li>\n<\/ul>\n<p>\n        <b><br \/>\n          <u>Other key highlights<\/u><br \/>\n        <\/b>\n      <\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen17\" colspan=\"16\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <i><br \/>\n                    <u>Key items included in net income attributable to Alexandria&#8217;s common stockholders:<\/u><br \/>\n                  <\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">YTD<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3Q25<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3Q24<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3Q25<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3Q24<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3Q25<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3Q24<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3Q25<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3Q24<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>(in millions, except per share amounts)<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen35\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Amount<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Per Share \u2013 <br \/>Diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Amount<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Per Share \u2013<br \/>Diluted<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Unrealized gains (losses) on<br \/>\u00a0non-real estate investments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0 18.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0 2.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0 0.11<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0 0.02<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$ (71.6)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen37\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$ (32.5)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$ (0.42)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen37\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$ (0.19)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Gain on sales of real estate<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">27.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.06<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.16<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">22.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">27.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.13<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.16<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Impairment of non-real<br \/>\u00a0estate investments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(25.1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(10.3)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.15)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.06)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(75.5)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(37.8)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.45)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.22)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Impairment of real estate<sup>(1)<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(323.9)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(5.7)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1.90)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.03)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(485.6)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(36.5)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2.85)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.22)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Loss on early extinguishment of debt<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Increase in provision for <br \/>\u00a0expected credit losses on <br \/>\u00a0financial instruments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.3)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0 (321.2)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0 13.7<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$ (1.88)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0 0.09<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0 (610.6)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$ (79.3)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$ (3.59)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$ (0.47)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"16\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\" colspan=\"16\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1)\u00a0\u00a0\u00a0\u00a0 Refer to &#8220;Funds from operations and funds from operations per share&#8221; in the Earnings Press Release for additional details.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b><br \/>\n          <u>Subsequent event<\/u><br \/>\n        <\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>In <span class=\"xn-chron\">October 2025<\/span>, we completed dispositions aggregating <span class=\"xn-money\">$167.4 million<\/span> across three submarkets and recognized a gain on sales of real estate of <span class=\"xn-money\">$4.4 million<\/span>. Refer to &#8220;Dispositions and exchange of partial interests&#8221; in the Earnings Press Release for additional details.<\/li>\n<\/ul>\n<p>\n        <b>2025 Guidance <\/b><br \/>\n        <br \/>September\u00a030, 2025 <br \/><i>(Dollars in millions, except per share amounts) <\/i><\/p>\n<p>Guidance for 2025 has been updated to reflect our current view of existing market conditions and assumptions for the year ending <span class=\"xn-chron\">December 31, 2025<\/span>. There can be no assurance that actual amounts will not be materially higher or lower than these expectations. Our guidance for 2025 is subject to a number of variables and uncertainties, including actions and changes in policy by the current U.S. administration related to the regulatory environment, life science funding, the U.S. Food and Drug Administration and National Institutes of Health, trade, and other areas. For additional discussion relating to risks and uncertainties that could cause actual results to differ materially from those anticipated, refer to our discussion of &#8220;forward-looking statements&#8221; on page 8 of the Earnings Press Release as well as our SEC filings, including our most recent annual report on Form 10-K and any subsequent quarterly reports on Form 10-Q.<\/p>\n<p>Key changes to our 2025 guidance include the following:<\/p>\n<p>1)\u00a0\u00a0\u00a0\u00a0 The midpoint of our guidance range for 2025 net (loss) income per share was reduced by <span class=\"xn-money\">$3.44<\/span> from <span class=\"xn-money\">$0.50<\/span> to <span class=\"xn-money\">$(2.94)<\/span>. In addition to the items discussed in item 2 below, the update to our guidance range for 2025 net (loss) income per share includes the following:<\/p>\n<ul type=\"disc\">\n<li>Potential additional impairments of real estate (including impairments on stabilized and non-stabilized properties and land) that may be recognized in 4Q25 ranging from <span class=\"xn-money\">$0<\/span> to <span class=\"xn-money\">$685 million<\/span>, related to assets that could potentially be sold in 4Q25 or 2026, and if such assets meet the held for sale criteria in 4Q25, considering market factors, buyer ability to perform, our desire to proceed with a sale at a particular price, and other factors.<\/li>\n<li>Potential additional gain on sales of real estate that may be recognized in 4Q25 ranging from <span class=\"xn-money\">$0<\/span> to <span class=\"xn-money\">$240 million<\/span> related to assets that may be sold in 4Q25.<\/li>\n<li>These potential impairments and gains on sales of real estate will not impact our funds from operations per share pursuant to the Nareit definition of funds from operations.<\/li>\n<\/ul>\n<p>2)\u00a0\u00a0\u00a0\u00a0 The midpoint of our guidance range for 2025 funds from operations per share \u2013 diluted, as adjusted, was reduced by <span class=\"xn-money\">25 cents<\/span>, from <span class=\"xn-money\">$9.26<\/span> to <span class=\"xn-money\">$9.01<\/span>. The primary drivers of the change include the following:<\/p>\n<ul type=\"disc\">\n<li>A 1.0% reduction in projected 2025 same property net operating income and a 0.9% reduction in our projected operating occupancy percentage in <span class=\"xn-location\">North America<\/span> as of <span class=\"xn-chron\">December 31, 2025<\/span> (at the midpoints of our guidance ranges), primarily due to slower than anticipated re-leasing of expiring spaces and lease-up of vacancy in our operating portfolio, reflecting reduced demand across the life science industry.<\/li>\n<li>A reduction in projected 2025 realized gains on non-real estate investments. The midpoint of our revised guidance range for 2025 realized gains on non-real estate investments assumes approximately <span class=\"xn-money\">$15 million<\/span> in 4Q25, compared to the quarterly average realized gains of approximately <span class=\"xn-money\">$32 million<\/span> per quarter for the nine months ended <span class=\"xn-chron\">September 30, 2025<\/span>.<\/li>\n<\/ul>\n<p>3)\u00a0\u00a0\u00a0\u00a0 Our guidance range for net debt and preferred stock Adjusted EBITDA \u2013 4Q25 annualized increased from less than or equal to 5.2x to a range of 5.5x to 6.0x. The primary drivers of the change include the following:<\/p>\n<ul type=\"disc\">\n<li>A <span class=\"xn-money\">$450 million<\/span> reduction in the midpoint of our guidance range for 2025 dispositions and sales of partial interests. This includes expected delays in the closing of certain dispositions that are now anticipated to be completed in 1H26.<\/li>\n<li>A reduction in projected Adjusted EBITDA in 4Q25 related to the changes in same property performance (net operating income) and realized gains on non-real estate investments as described above.<\/li>\n<\/ul>\n<p>Refer to &#8220;Key assumptions&#8221; and &#8220;Key sources and uses of capital&#8221;.<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen4\" colspan=\"11\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Projected 2025 Earnings per Share and Funds From Operations per Share Attributable to Alexandria&#8217;s Common Stockholders \u2013 Diluted<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As of 10\/27\/25<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As of 7\/21\/25<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Key Changes to Midpoint<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Net (loss) income per share<sup>(1)<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$(5.68) to $(0.20)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$0.40 to $0.60<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen40\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(2)<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Depreciation and amortization of real estate assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">7.05<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">7.05<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Gain on sales of real estate<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.14) to (1.54)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.08)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen40\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(2)<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Impairment of real estate \u2013 rental properties and land<sup>(3)<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6.69 to 2.67<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.77<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen40\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(2)<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Allocation to unvested restricted stock awards<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.03)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen42\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.03)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen42\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Funds from operations per share<sup>(4)<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$7.89 to $7.95<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$8.11 to $8.31<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Unrealized losses on non-real estate investments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.42<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.53<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Impairment of non-real estate investments<sup>(3)<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.45<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.30<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Impairment of real estate<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.23<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.23<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Allocation to unvested restricted stock awards<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.01)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.01)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Funds from operations per share, as adjusted<sup>(4)<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen43\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$8.98 to $9.04<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen43\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$9.16 to $9.36<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Midpoint<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$9.01<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$9.26<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Reduction of 25 cents<sup>(2)<\/sup><\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Key Credit Metrics Targets<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As of 10\/27\/25<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As of 7\/21\/25<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Key Changes<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Net debt and preferred stock to Adjusted EBITDA \u2013 4Q25 annualized <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">5.5x to 6.0x<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Less than or equal to 5.2x<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.6x increase<sup>(2)<\/sup><\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Fixed-charge coverage ratio \u2013 4Q25 annualized<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3.6x to 4.1x<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.0x to 4.5x<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.4x reduction<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen28\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Excludes unrealized gains or losses on non-real estate investments after September 30, 2025 that are required to be recognized in earnings and are excluded from funds from operations per share, as adjusted.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Refer to the discussion regarding key changes to our 2025 guidance above for additional details.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Refer to &#8220;Funds from operations and funds from operations per share&#8221; in the Earnings Press Release for additional details.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(4)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Refer to &#8220;Funds from operations and funds from operations, as adjusted, attributable to Alexandria&#8217;s common stockholders&#8221; under &#8220;Definitions and reconciliations&#8221; in the Supplemental Information for additional details.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As of 10\/27\/25<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As of 7\/21\/25<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Key Changes<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>to Midpoint<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Key Assumptions<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Low<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen29\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen44\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>High<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Low<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen29\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen44\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>High<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Operating occupancy percentage in North America as of December\u00a031, 2025<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">90.0\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">91.6\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(1)<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">90.9\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">92.5\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">90 bps reduction<\/span>\n              <\/p>\n<\/td>\n<td class=\"prnpr10 prnpl2 prnvab prntac prncbts prnrbrb1 prnsbbb1 prnsblb1\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Lease renewals and re-leasing of space:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Rental rate changes<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">7.0\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">15.0\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9.0\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">17.0\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">200 bps reduction<sup>(2)<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Rental rate changes (cash basis)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.5\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">8.5\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.5\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">8.5\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">No change<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Same property performance:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Net operating income changes<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(4.7)\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2.7)\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3.7)\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1.7)\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">100 bps reduction<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Net operating income changes (cash basis)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1.2)\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.8\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1.2)\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.8\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">No change<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Straight-line rent revenue<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 75<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 95<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 96<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 116<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$21 million reduction<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">General and administrative expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 112<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 127<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 112<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 127<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prnpr2 prnpl2 prnvam prntac prnsbtb1 prnrbrb1 prnbbbs prnbsbls\" colspan=\"1\" rowspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">No Change<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Capitalization of interest<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 320<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 350<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 320<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 350<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Interest expense<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 195<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 225<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 185<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 215<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$10 million increase<sup>(3)<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Realized gains on non-real estate investments<sup>(4)<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 100<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 120<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 100<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 130<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$5 million reduction<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Our guidance assumes an approximate 1% benefit related to a range of assets with vacancy that could potentially qualify for classification as held for sale in 4Q25 that have not yet reached the criteria for held for sale designation as of 3Q25.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">In October 2025, we executed a one-year lease extension aggregating 247,743 RSF with an investment-grade rated government institution tenant at a recently acquired office property in our Canada market. At acquisition, this building was originally targeted for a future change in use, but we instead renewed the existing tenant through the beginning of 2027, with no incremental capital investment. We continue to evaluate options to convert this space, subject to market conditions. The impact from this renewal on our 2025 rental rate changes is anticipated to result in a reduction of approximately 2.0%.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">The increase in the midpoint of our guidance range for 2025 interest expense is primarily due to the $450 million reduction to the midpoint of our guidance range for 2025 dispositions and sales of partial interests, which includes expected delays in the closing of certain dispositions that are now anticipated to be completed in 1H26.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(4)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Represents realized gains and losses included in funds from operations per share \u2013 diluted, as adjusted, and excludes significant impairments realized on non-real estate investments, if any. The midpoint of our revised guidance range for 2025 realized gains on non-real estate investments assumes approximately $15 million in 4Q25, compared to the quarterly average realized gains of approximately $32 million per quarter for the nine months ended September 30, 2025. Refer to &#8220;Investments&#8221; in the Supplemental Information for additional details.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"10\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As of 10\/27\/25<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As of 7\/21\/25 <br \/>Midpoint<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Key Changes<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>to Midpoint<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Key Sources and Uses of Capital<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"4\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Range<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prnpr4 prnpl2 prnvab prntar prncbts prnbbbs\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen44\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Midpoint<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Certain Completed Items<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>Sources of capital:<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prnpr4 prnpl2 prnvab prntac prncbts prnrbrb1 prnsbbb1 prnsblb1\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Increase in debt<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">60<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">260<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">160<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">See below<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (290)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$450 million increase<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Net cash provided by operating activities after dividends<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">425<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">525<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">475<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">475<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Dispositions and sales of partial interests <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,100<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,900<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,500<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(1)<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,950<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$450 million decrease<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total sources of capital<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,585<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,685<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,135<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2,135<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>Uses of capital:<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Construction<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,450<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,050<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,750<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,750<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Acquisitions and other opportunistic uses of capital<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">500<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">250<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 208 <sup>(2)<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">250<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Ground lease prepayment<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">135<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">135<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">135<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">135<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">135<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total uses of capital<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,585<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,685<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,135<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2,135<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>Increase in debt (included above):<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Issuance of unsecured senior notes payable<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">550<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">550<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">550<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">550<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 550<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Repayment of unsecured note payable<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(600)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(600)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(600)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(600)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(600)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Repayment of secured note payable<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(154)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(154)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(154)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 \u00a0(154) <sup>(3)<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(154)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Unsecured senior line of credit, commercial paper, and other<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">264<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">464<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">364<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(86)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Increase in debt<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">60<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">260<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">160<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (290)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$450 million increase<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">As of October 27, 2025, completed dispositions aggregated $508.3 million and our share of pending transactions subject to non-refundable deposits, signed letters of intent, or purchase and sale agreement negotiations aggregated $1.0 billion. We expect to achieve a weighted-average capitalization rate on our projected 2025 dispositions and sales of partial interests (excluding land and including stabilized and non-stabilized operating properties) in the 7.5%\u20138.5% range. We expect dispositions of land to represent 20%\u201330% of our total dispositions and sales of partial interest sales for the year ending December 31, 2025. Refer to &#8220;Dispositions and exchange of partial interests&#8221; in the Earnings Press Release for additional details.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Under our common stock repurchase program authorized in December 2024, we may repurchase up to $500 million of our common stock through December 31, 2025. During 3Q25, we did not repurchase any shares of common stock.\u00a0 As of October 27, 2025, the approximate value of shares authorized and remaining under this program was $241.8 million. Subject to market conditions, we may consider repurchasing additional shares of our common stock.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">In August 2025, we repaid a secured construction loan held by our development project at 99 Coolidge Avenue in our Cambridge\/Inner Suburbs submarket. Refer to &#8220;Key capital events&#8221; in the Earnings Press Release for additional details.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>2026 Considerations<\/b>\n      <\/p>\n<p>\n        <b>Summary of Key Items That May Impact 2026 Results<\/b>\n      <\/p>\n<p>We expect to introduce 2026 guidance on <span class=\"xn-chron\">December 3, 2025<\/span> at our Investor Day. The following is an initial summary of key items that are expected to impact 2026 results:<\/p>\n<ul type=\"disc\">\n<li>\n          <i>Core operations <\/i>\u2013 Slower demand across the life science sector and increased supply for life science real estate could negatively impact future occupancy. Additional considerations include the following:<\/p>\n<ul type=\"disc\">\n<li>Same property net operating income decrease for 3Q25 compared to 3Q24 of 6.0% reflects a decline relative to the first half of 2025. Refer to &#8220;Same property performance&#8221; in the Supplemental Information for additional details.<\/li>\n<li>Operating occupancy has decreased four consecutive quarters from 94.7% as of <span class=\"xn-chron\">September 30, 2024<\/span> to 90.6% as of <span class=\"xn-chron\">September 30, 2025<\/span>.<\/li>\n<li>Before the benefit of excluding assets designated as held for sale which contained vacancy, 3Q25 occupancy declined 1.1% compared to 2Q25, primarily related to 3Q25 lease expirations. These lease expirations resulting in the 1.1% decline in occupancy previously generated annual rental revenue aggregating approximately <span class=\"xn-money\">$29.0 million<\/span> and had a weighted-average lease expiration date at the end of <span class=\"xn-chron\">July 2025<\/span>. We are currently marketing these spaces.<\/li>\n<li>Our guidance for operating occupancy percentage in <span class=\"xn-location\">North America<\/span> as of <span class=\"xn-chron\">December 31, 2025<\/span> assumes an approximate 1% benefit related to a range of assets with vacancy that could potentially qualify for designation as held for sale by <span class=\"xn-chron\">December 31, 2025<\/span>, but that have not yet qualified as of <span class=\"xn-chron\">September 30, 2025<\/span>. After considering this potential adjustment, the midpoint of our guidance range for occupancy as of <span class=\"xn-chron\">December 31, 2025<\/span> implies an 80 bps decline in operating occupancy percentage during 4Q25.<\/li>\n<li>There are key lease expirations primarily located in the <span class=\"xn-location\">Greater Boston<\/span>, <span class=\"xn-location\">San Francisco Bay Area<\/span>, and <span class=\"xn-location\">San Diego<\/span> markets aggregating 1.2 million RSF with a weighted-average lease expiration date of <span class=\"xn-chron\">March 19, 2026<\/span> and annual rental revenue aggregating <span class=\"xn-money\">$81 million<\/span>, which are expected to become vacant upon lease expiration. We expect downtime on these spaces ranging from 6 to 24 months on a weighted-average basis. Refer to &#8220;Contractual lease expirations&#8221; in the Supplemental Information for additional details.\n<\/li>\n<\/ul>\n<\/li>\n<li>\n          <i>Capitalized interest<\/i> \u2013 There is approximately <span class=\"xn-money\">$4.2 billion<\/span> of average real estate basis capitalized during YTD 3Q25 related to future pipeline projects undergoing critical pre-construction activities, including various phases of entitlement, design, site work, and other activities necessary to begin aboveground vertical construction. We expect these projects to reach anticipated pre-construction milestones on <span class=\"xn-chron\">April 14, 2026<\/span>, on a weighted-average real estate investment basis. We will evaluate, on an asset-by-asset basis, whether to (i) proceed with additional pre-construction and\/or construction activities based on leasing demand and\/or market conditions, (ii) pause future investments, or (iii) consider the potential dispositions of these real estate assets. If we cease activities necessary to prepare a project for its intended use, costs related to such project, including interest, payroll, property taxes, insurance, and other costs directly related and essential to the construction of Class A\/A+ properties, will be expensed as incurred. Refer to &#8220;Capitalization of interest&#8221; in the Supplemental Information for additional details.<\/p>\n<\/li>\n<li>\n          <i>Realized gains on non-real estate investments <\/i>\u2013 The midpoint of our revised guidance range for 2025 realized gains on non-real estate investments assumes approximately <span class=\"xn-money\">$15 million<\/span> in 4Q25, compared to the quarterly average realized gains of approximately <span class=\"xn-money\">$32 million<\/span> per quarter for the nine months ended <span class=\"xn-chron\">September 30, 2025<\/span>. Refer to &#8220;Investments&#8221; in the Supplemental Information for additional details.<\/p>\n<\/li>\n<li>\n          <i>General and administrative expenses <\/i>\u2013 Over the past several years, we have implemented\u00a0comprehensive measures to reduce our expenditures across our organization, including our general and administrative expenses. These initiatives are expected to generate a reduction in general and administrative expenses of approximately <span class=\"xn-money\">$49 million<\/span>, or 29%, during the year ending <span class=\"xn-chron\">December 31, 2025<\/span> (at the midpoint of our 2025 guidance range) compared to the year ended <span class=\"xn-chron\">December 31, 2024<\/span>. Given that some of these costs savings are expected to be temporary in nature, we anticipate approximately half of the cost reductions expected to be achieved in 2025 will continue in 2026.<\/p>\n<\/li>\n<li>\n          <i>Dispositions and equity-type capital<\/i><\/p>\n<ul type=\"disc\">\n<li>As of <span class=\"xn-chron\">October 27, 2025<\/span>, our share of pending dispositions subject to non-refundable deposits, signed letters of intent, and\/or purchase and sale agreement negotiations aggregated <span class=\"xn-money\">$1.0 billion<\/span>. We expect these dispositions to close in late 4Q25; therefore, the corresponding reduction in EBITDA is expected to impact 1Q26. Refer to &#8220;Dispositions and exchange of partial interests&#8221; in the Earnings Press Release for additional details.<\/li>\n<li>We expect construction spending in 2026 to be similar or slightly higher than the <span class=\"xn-money\">$1.75 billion<\/span> midpoint of our guidance range for 2025 construction in order to complete our active construction projects and significant revenue- and non-revenue-enhancing capital expenditures necessary to lease vacant space. Given the factors previously described that could negatively impact EBITDA, we may require significant equity-type capital to manage our leverage profile.<\/li>\n<li>We expect a significant source of funding to come from the sale of non-core assets in 2026. We anticipate an end to our large-scale non-core asset sales program in 2026 or early 2027. As of <span class=\"xn-chron\">September 30, 2025<\/span>, 77% of our annual rental revenue is from our Megacampus\u2122 platform, and we expect this percentage to continue to grow over time.\n<\/li>\n<\/ul>\n<\/li>\n<li>\n          <i>Dividends and net cash provided by operating activities after dividends<\/i><\/p>\n<ul type=\"disc\">\n<li>From 2013 to 2025, dividends per share and funds from operations per share, as adjusted have been highly correlated, with cumulative increases of 102% and 105%, respectively.<\/li>\n<li>The factors previously described could lead to a reduction in funds from operations per share, as adjusted and net cash provided by operating activities. At the current dividend rate, the amount of net cash provided by operating activities after payment of dividends available to recycle and address our 2026 capital needs could be reduced. As a result, we expect our Board of Directors to carefully evaluate our 2026 dividend strategy.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen17\" colspan=\"16\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Dispositions and Exchange of Partial Interests<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">September 30, 2025<\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <i><br \/>\n                    <span class=\"prnews_span\">(Dollars in thousands)<\/span><br \/>\n                  <\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Interest <br \/><\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sold\/<br \/>Acquired<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Square Footage<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Gain on <br \/>Sales of Real<br \/>Estate<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Property<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Submarket\/Market<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Date of <br \/>Transaction<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen44\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Operating<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen29\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen44\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Future <br \/>Development <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Price<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <i>Dispositions<\/i><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen29\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Completed in 1H25<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 260,639<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 13,165<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Completed in 3Q25:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">\u00a0 5505 Morehouse Drive<sup>(1)<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Sorrento Mesa\/San Diego <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">8\/26\/25<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">100\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">79,945<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">45,000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">\u00a0 Other <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Various<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">35,232<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">76<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total dispositions completed in 3Q25<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">80,232<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(2)<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">76<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(3)<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Completed in October 2025: <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">\u00a0 550 Arsenal Street<sup>(4)<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Cambridge\/Inner Suburbs\/Greater Boston<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">10\/15\/25<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">100\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">249,275<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">281,592<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">99,250<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">\u00a0 Other<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Various<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">68,129<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4,362<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">167,379<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(2)<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4,362<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total dispositions as of October 27, 2025<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">508,250<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 17,603<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Our share of pending dispositions subject to non-refundable deposits, signed letters of intent, and\/or purchase and sale agreement negotiations<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,032,495<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Completed and pending YTD 2025 dispositions, excluding exchange of partial interests (see below)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0 1,540,745<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2025 guidance range for dispositions and sales of partial interests<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$1,100,000 \u2013 $1,900,000\u00a0 \u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2025 guidance midpoint for dispositions and sales of partial interests<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0 1,500,000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <i>Exchange of partial interests<span class=\"prnews_span\"><sup>(5)<\/sup><\/span><\/i><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">\u00a0Disposition of Pacific Technology Park<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Sorrento Mesa\/San Diego<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9\/9\/25<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">50\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">544,352<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 96,000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 9,290<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">\u00a0Acquisition of 199 East Blaine Street<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Lake Union\/Seattle<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9\/9\/25<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">70\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">115,084<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(94,430)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Difference in sales price received in cash<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,570<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen45\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen31\" colspan=\"3\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Refer to &#8220;Definitions and\u00a0reconciliations&#8221; in the Supplemental Information for additional details.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prnpr4 prnpl2 prnvat prnsbtb1 prnrbrb1 prnsbbb1 prnsblb1\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Represents a laboratory property with significant near-term lease expirations.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Dispositions completed during the three months ended September 30, 2025 had annual net operating income of $4.3 million (based on 2Q25 annualized) with a weighted-average disposition date of September 2, 2025. Additionally, October 2025 dispositions had annual net operating income of $13.0 million (based on 3Q25 annualized) with a weighted-average disposition date of October 13, 2025.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Excludes a gain on sale of interest related to an unconsolidated real estate joint venture of $458 thousand, which is classified as equity in earnings of unconsolidated real estate joint ventures in our consolidated statement of operations.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(4)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Represents a retail shopping center with future development opportunity. We originally acquired the property in 2021 with the intent to demolish the retail center and develop it into laboratory space. However, due to the project&#8217;s financial outlook and the substantial capital that development would have required, we decided to recycle the capital generated by the disposition into our development and redevelopment pipeline. The capitalization rates of the disposition were 6.1% and 5.4% (cash basis) based upon net operating income and net operating income (cash basis), respectively, for 3Q25 annualized.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(5)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">In September 2025, we completed an exchange of partial interests in two consolidated joint ventures, Pacific Technology Park and 199 East Blaine Street, with one joint venture partner, resulting in a sales price received by cash of $1.6 million:<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2022<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">We sold our 50% controlling interest in Pacific Technology Park, a\u00a0non-Megacampus comprising five non-laboratory properties that were 93% occupied, at capitalization rates of\u00a04.9% and 5.0% (cash basis). The disposition had consolidated annual net operating income of $9.4 million based on 2Q25 annualized (at 100%). As of September 30, 2025, we no longer have any ownership interest in Pacific Technology Park, and the consolidated net operating income is no longer included in our statement of operations following the sale.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2022<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">We acquired our partner&#8217;s 70% noncontrolling interest at 199 East Blaine Street, a fully occupied laboratory building located in our Alexandria Center<sup>\u00ae<\/sup> for Life Science \u2013 Eastlake Megacampus, with a weighted-average remaining lease term of 1.3 years. The purchase price exceeded the book value of the noncontrolling interest by $66.3 million, which was recognized in additional paid-in capital.\u00a0As of September 30, 2025, we own 100% of 199 East Blaine Street.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Earnings Call Information and About the Company<br \/><\/b><br \/>\n        <span class=\"xn-chron\">September 30, 2025<\/span>\n      <\/p>\n<p>We will host a conference call on <span class=\"xn-chron\">Tuesday, October 28, 2025<\/span>, at <span class=\"xn-chron\">2:00 p.m. Eastern Time<\/span> (&#8220;ET&#8221;)\/<span class=\"xn-chron\">11:00 a.m. Pacific Time<\/span> (&#8220;PT&#8221;), which is open to the general public, to discuss our financial and operating results for the third quarter ended <span class=\"xn-chron\">September 30, 2025<\/span>. To participate in this conference call, dial (833) 366-1125 or (412) 902-6738 shortly before <span class=\"xn-chron\">2:00 p.m. ET<\/span>\/<span class=\"xn-chron\">11:00 a.m. PT<\/span> and ask the operator to join the call for Alexandria Real Estate Equities, Inc. The audio webcast can be accessed at\u00a0<a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4541559-1&amp;h=2516870078&amp;u=https%3A%2F%2Fwww.are.com%2F&amp;a=www.are.com\" target=\"_blank\" rel=\"nofollow\">www.are.com<\/a> in the &#8220;For Investors&#8221; section. A replay of the call will be available for a limited time from <span class=\"xn-chron\">4:00 p.m. ET<\/span>\/1:00 p.m. PT on <span class=\"xn-chron\">Tuesday, October 28, 2025<\/span>. The replay number is (877) 344-7529 or (412) 317-0088, and the access code is 6086829.<\/p>\n<p>Additionally, a copy of this Earnings Press Release and Supplemental Information for the third quarter ended September\u00a030, 2025 is available in the &#8220;For Investors&#8221; section of our website at <a href=\"http:\/\/www.are.com\" rel=\"nofollow\">www.are.com<\/a> or by following this link: <a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4541559-1&amp;h=4175750599&amp;u=https%3A%2F%2Fwww.are.com%2Ffs%2F2025q3.pdf&amp;a=https%3A%2F%2Fwww.are.com%2Ffs%2F2025q3.pdf\" target=\"_blank\" rel=\"nofollow\">https:\/\/www.are.com\/fs\/2025q3.pdf<\/a>.\u00a0<\/p>\n<p>For any questions, please contact <a href=\"mailto:corporateinformation@are.com\" target=\"_blank\" rel=\"nofollow\">corporateinformation@are.com<\/a>; <span class=\"xn-person\">Joel S. Marcus<\/span>, executive chairman and founder; Peter M.\u00a0Moglia, chief executive officer and chief investment officer; <span class=\"xn-person\">Marc E. Binda<\/span>, chief financial officer and treasurer; or <span class=\"xn-person\">Paula Schwartz<\/span>, managing director of Rx Communications Group, at (917) 633-7790.<\/p>\n<p>\n        <b>About the Company<\/b>\n      <\/p>\n<p>Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&amp;P 500<sup>\u00ae<\/sup> company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. With our founding in 1994, <span class=\"xn-location\">Alexandria<\/span> pioneered the life science real estate niche. <span class=\"xn-location\">Alexandria<\/span> is the preeminent and longest-tenured owner, operator, and developer of collaborative Megacampus\u2122 ecosystems in AAA life science innovation cluster locations, including <span class=\"xn-location\">Greater Boston<\/span>, the <span class=\"xn-location\">San Francisco Bay Area<\/span>, <span class=\"xn-location\">San Diego<\/span>, <span class=\"xn-location\">Seattle<\/span>, <span class=\"xn-location\">Maryland<\/span>, Research Triangle, and <span class=\"xn-location\">New York City<\/span>. \u00a0As of September\u00a030, 2025, <span class=\"xn-location\">Alexandria<\/span> has a total market capitalization of <span class=\"xn-money\">$27<\/span>.8\u00a0billion and an asset base in <span class=\"xn-location\">North America<\/span> that includes 39.1 million RSF of operating properties and 4.2 million RSF of Class A\/A+ properties undergoing construction and one 100% pre-leased committed near-term project expected to commence construction in the next year. <span class=\"xn-location\">Alexandria<\/span> has a long-standing and proven track record of developing Class A\/A+ properties clustered in highly dynamic and collaborative Megacampus environments that enhance our tenants&#8217; ability to successfully recruit and retain world-class talent and inspire productivity, efficiency, creativity, and success. <span class=\"xn-location\">Alexandria<\/span> also provides strategic capital to transformative life science 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 <span class=\"xn-location\">Alexandria<\/span>, please visit <a href=\"http:\/\/www.are.com\" rel=\"nofollow\">www.are.com<\/a>.<\/p>\n<p>\n        <b>Forward-Looking Statements<\/b>\n      <\/p>\n<p>This document includes &#8220;forward-looking statements&#8221; 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 our projected 2025 earnings per share, projected 2025 funds from operations per share, projected 2025 funds from operations per share, as adjusted, projected net operating income, and our projected sources and uses of capital. You can identify the forward-looking statements by their use of forward-looking words, such as &#8220;forecast,&#8221; &#8220;guidance,&#8221; &#8220;goals,&#8221; &#8220;projects,&#8221; &#8220;estimates,&#8221; &#8220;anticipates,&#8221; &#8220;believes,&#8221; &#8220;expects,&#8221; &#8220;intends,&#8221; &#8220;may,&#8221; &#8220;plans,&#8221; &#8220;seeks,&#8221; &#8220;should,&#8221; &#8220;targets,&#8221; or &#8220;will,&#8221; or the negative of those words or similar words. These forward-looking statements are based on our current expectations, beliefs, projections, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts, as well as a number of assumptions concerning future events. There can be no assurance that actual results will not be materially higher or lower than these expectations. These statements are subject to risks, uncertainties, assumptions, and other important factors that could cause actual results to differ materially from the results discussed in the forward-looking statements. Factors that might cause such a difference include, without limitation, our failure to obtain capital (debt, construction financing, and\/or equity) or refinance debt maturities, lower than expected yields, increased interest rates and operating costs, adverse economic or real estate developments in our markets, our failure to successfully place into service and lease any properties undergoing development or redevelopment and our existing space held for future development or redevelopment (including new properties acquired for that purpose), our failure to successfully operate or lease acquired properties, decreased rental rates, increased vacancy rates or failure to renew or replace expiring leases, defaults on or non-renewal of leases by tenants, adverse general and local economic conditions, an unfavorable capital market environment, decreased leasing activity or lease renewals, failure to obtain LEED and other healthy building certifications and efficiencies, and other risks and uncertainties detailed in our filings with the Securities and Exchange Commission (&#8220;SEC&#8221;). Accordingly, you are cautioned not to place undue reliance on such forward-looking statements. All forward-looking statements are made as of the date of this Earnings Press Release and Supplemental Information, and unless otherwise stated, we assume no obligation to update this information and expressly disclaim any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. For more discussion relating to risks and uncertainties that could cause actual results to differ materially from those anticipated in our forward-looking statements, and risks to our business in general, please refer to our SEC filings, including our most recent annual report on Form 10-K and any subsequent quarterly reports on Form 10-Q.<\/p>\n<p>This document is not an offer to sell or a solicitation to buy securities of Alexandria Real Estate Equities, Inc. Any offers to sell or solicitations to buy our securities shall be made only by means of a prospectus approved for that purpose. Unless otherwise indicated, the &#8220;Company,&#8221; &#8220;<span class=\"xn-location\">Alexandria<\/span>,&#8221; &#8220;ARE,&#8221; &#8220;we,&#8221; &#8220;us,&#8221; and &#8220;our&#8221; refer to Alexandria Real Estate Equities, Inc. and our consolidated subsidiaries. <span class=\"xn-location\">Alexandria<\/span><sup>\u00ae<\/sup>, Lighthouse Design<sup>\u00ae<\/sup> logo, Building the Future of Life-Changing Innovation<sup>\u00ae<\/sup>, That&#8217;s What&#8217;s in Our DNA<sup>\u00ae<\/sup>, Megacampus\u2122, At the Vanguard and Heart of the Life Science Ecosystem\u2122, Alexandria Center<sup>\u00ae<\/sup>, Alexandria Technology Square<sup>\u00ae<\/sup>, Alexandria Technology Center<sup>\u00ae<\/sup>, and Alexandria Innovation Center<sup>\u00ae<\/sup> are copyrights and trademarks of Alexandria Real Estate Equities, Inc. All other company names, trademarks, and logos referenced herein are the property of their respective owners.<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen17\" colspan=\"15\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Consolidated Statements of Operations<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">September 30, 2025<\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <i><br \/>\n                    <span class=\"prnews_span\">(Dollars in thousands, except per share amounts)<\/span><br \/>\n                  <\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"9\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Three Months Ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Nine Months Ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>9\/30\/25<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen44\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>6\/30\/25<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen44\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>3\/31\/25<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen44\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>12\/31\/24<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen44\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>9\/30\/24<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>9\/30\/25<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen44\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>9\/30\/24<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Revenues:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">\u00a0Income from rentals<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 735,849<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 737,279<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 743,175<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 763,249<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 775,744<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0 2,216,303<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0 2,286,457<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">\u00a0Other income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">16,095<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">24,761<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">14,983<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">25,696<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">15,863<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">55,839<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">40,992<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total revenues<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">751,944<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">762,040<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">758,158<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">788,945<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">791,607<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,272,142<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,327,449<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Expenses:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">\u00a0Rental operations<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">239,234<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">224,433<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">226,395<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">240,432<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">233,265<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">690,062<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">668,833<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">\u00a0General and administrative<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">29,224<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">29,128<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">30,675<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">32,730<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">43,945<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">89,027<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">135,629<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">\u00a0Interest<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">54,852<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">55,296<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">50,876<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">55,659<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">43,550<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">161,024<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">130,179<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">\u00a0Depreciation and amortization<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">340,230<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">346,123<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">342,062<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">330,108<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">293,998<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,028,415<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">872,272<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">\u00a0Impairment of real estate<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">323,870<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(1)<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">129,606<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">32,154<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">186,564<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">5,741<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">485,630<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">36,504<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">\u00a0Loss on early extinguishment of debt<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">107<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">107<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">987,517<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">784,586<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">682,162<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">845,493<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">620,499<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,454,265<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,843,417<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Equity in earnings (losses) of unconsolidated real estate joint ventures<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">201<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(9,021)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(507)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6,635<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">139<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(9,327)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">424<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Investment income (loss)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">28,161<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(30,622)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(49,992)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(67,988)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">15,242<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(52,453)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">14,866<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Gain on sales of real estate<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9,366<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">13,165<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">101,806<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">27,114<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">22,531<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">27,506<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Net (loss) income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(197,845)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(62,189)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">38,662<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(16,095)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">213,603<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(221,372)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">526,828<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Net income attributable to noncontrolling interests<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(34,909)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(44,813)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(47,601)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(46,150)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(45,656)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(127,323)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(141,634)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Net (loss) income attributable to Alexandria Real Estate Equities, Inc.&#8217;s<br \/>\u00a0 \u00a0 stockholders<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(232,754)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(107,002)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(8,939)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(62,245)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">167,947<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(348,695)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">385,194<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Net income attributable to unvested restricted stock awards<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2,183)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2,609)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2,660)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2,677)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3,273)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(7,452)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(10,717)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Net (loss) income attributable to Alexandria Real Estate Equities, Inc.&#8217;s<br \/>\u00a0 \u00a0 common stockholders<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0 (234,937)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0 (109,611)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (11,599)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (64,922)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 164,674<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0 (356,147)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 374,477<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Net (loss) income per share attributable to Alexandria Real Estate Equities,<br \/>\u00a0 \u00a0 Inc.&#8217;s common stockholders:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Basic<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (1.38)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.64)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.07)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.38)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.96<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (2.09)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.18<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (1.38)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.64)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.07)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.38)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.96<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (2.09)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.18<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Weighted-average shares of common stock outstanding:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Basic<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">170,181<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">170,135<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">170,522<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">172,262<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">172,058<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">170,278<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">172,007<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">170,181<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">170,135<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">170,522<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">172,262<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">172,058<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">170,278<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">172,007<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Dividends declared per share of common stock<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.32<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.32<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.32<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.32<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.30<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3.96<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3.87<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen53\" colspan=\"15\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"15\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1)\u00a0 \u00a0Refer to footnote 2 in &#8220;Funds from operations and funds from operations per share&#8221; in the Earnings Press Release for additional details.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"11\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Consolidated Balance Sheets<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">September 30, 2025<\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <i><br \/>\n                    <span class=\"prnews_span\">(In thousands)<\/span><br \/>\n                  <\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"11\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>9\/30\/25<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>6\/30\/25<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>3\/31\/25<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>12\/31\/24<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>9\/30\/24<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Investments in real estate<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0 31,743,917<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0 32,160,600<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0 32,121,712<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0 32,110,039<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$ 32,951,777<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Investments in unconsolidated real estate joint ventures<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">39,601<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">40,234<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">50,086<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">39,873<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">40,170<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Cash and cash equivalents<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">579,474<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">520,545<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">476,430<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">552,146<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">562,606<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Restricted cash<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4,705<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">7,403<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">7,324<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">7,701<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">17,031<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Tenant receivables<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6,409<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6,267<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6,875<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6,409<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6,980<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Deferred rent<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,257,378<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,232,719<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,210,584<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,187,031<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,216,176<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Deferred leasing costs<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">505,241<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">491,074<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">489,287<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">485,959<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">516,872<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Investments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,537,638<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,476,696<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,479,688<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,476,985<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,519,327<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Other assets <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,700,785<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,688,091<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,758,442<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,661,306<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,657,189<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0 37,375,148<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0 37,623,629<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0 37,600,428<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0 37,527,449<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$ 38,488,128<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Liabilities, Noncontrolling Interests, and Equity<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Secured notes payable<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 153,500<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 150,807<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 149,909<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 145,000<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Unsecured senior notes payable<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">12,044,999<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">12,042,607<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">12,640,144<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">12,094,465<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">12,092,012<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Unsecured senior line of credit and commercial paper<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,548,542<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,097,993<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">299,883<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">454,589<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Accounts payable, accrued expenses, and other liabilities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,432,726<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,360,840<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,281,414<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,654,351<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,865,886<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Dividends payable<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">230,603<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">229,686<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">228,622<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">230,263<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">227,191<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total liabilities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">16,256,870<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">15,884,626<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">15,600,870<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">15,128,988<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">15,784,678<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Commitments and contingencies<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Redeemable noncontrolling interests<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">58,662<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9,612<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9,612<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">19,972<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">16,510<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Alexandria Real Estate Equities, Inc.&#8217;s stockholders&#8217; equity:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">\u00a0 Common stock<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,703<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,701<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,701<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,722<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,722<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">\u00a0 Additional paid-in capital<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">16,669,802<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">17,200,949<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">17,509,148<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">17,933,572<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">18,238,438<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">\u00a0 Accumulated other comprehensive loss<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(32,203)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(27,415)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(46,202)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(46,252)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(22,529)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Alexandria Real Estate Equities, Inc.&#8217;s stockholders&#8217; equity<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">16,639,302<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">17,175,235<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">17,464,647<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">17,889,042<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">18,217,631<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Noncontrolling interests<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4,420,314<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4,554,156<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4,525,299<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4,489,447<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4,469,309<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total equity<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">21,059,616<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">21,729,391<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">21,989,946<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">22,378,489<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">22,686,940<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total liabilities, noncontrolling interests, and equity<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0 37,375,148<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0 37,623,629<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0 37,600,428<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0 37,527,449<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$ 38,488,128<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Funds From Operations and Funds From Operations per Share<\/b><br \/>\n                  <br \/>September 30, 2025<br \/><i><span class=\"prnews_span\">(In thousands)<\/span><\/i><\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">The following table presents a reconciliation of net income (loss) attributable to Alexandria&#8217;s common stockholders, the most directly comparable financial measure presented in accordance with U.S. generally accepted accounting principles (&#8220;GAAP&#8221;), including our share of amounts from consolidated and unconsolidated real estate joint ventures, to funds from operations attributable to Alexandria&#8217;s common stockholders \u2013 diluted, and funds from operations attributable to Alexandria&#8217;s common stockholders \u2013 diluted, as adjusted, for the periods below:<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\">\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"9\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Three Months Ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Nine Months Ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>9\/30\/25<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>6\/30\/25<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>3\/31\/25<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>12\/31\/24<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>9\/30\/24<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>9\/30\/25<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>9\/30\/24<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net (loss) income attributable to Alexandria&#8217;s common stockholders \u2013 basic<br \/>\u00a0 \u00a0 and diluted<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$ (234,937)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$ (109,611)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$\u00a0\u00a0 (11,599)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$\u00a0\u00a0 (64,922)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$\u00a0\u00a0 164,674<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$ (356,147)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$\u00a0\u00a0 374,477<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Depreciation and amortization of real estate assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">338,182<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">343,729<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">339,381<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">327,198<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">291,258<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,021,292<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">864,326<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Noncontrolling share of depreciation and amortization from consolidated real <br \/>\u00a0 \u00a0 estate JVs<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(45,327)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(36,047)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(33,411)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(34,986)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(32,457)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(114,785)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(94,725)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Our share of depreciation and amortization from unconsolidated real estate JVs<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">852<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">942<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,054<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,061<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,075<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,848<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,177<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Gain on sales of real estate<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(9,824)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prnpr2 prnpl2 prnvat prntal prnsbtb0 prnrbrb0 prnsbbb0 prnsblb0\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(1)<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(13,165)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(100,109)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(27,114)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(22,989)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(27,506)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Impairment of real estate \u2013 rental properties and land<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">323,870<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(2)<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">131,090<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">184,532<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">5,741<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">454,960<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">7,923<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Allocation to unvested restricted stock awards <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,648)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,222)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(686)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,182)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2,908)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3,590)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(7,657)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Funds from operations attributable to Alexandria&#8217;s common stockholders \u2013 <br \/>\u00a0 \u00a0 diluted<span class=\"prnews_span\"><sup>(3)<\/sup><\/span><\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>371,168<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>328,881<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>281,574<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>311,592<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>400,269<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>981,589<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,120,015<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Unrealized (gains) losses on non-real estate investments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(18,515)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">21,938<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">68,145<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">79,776<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2,610)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">71,568<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">32,470<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Impairment of non-real estate investments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">25,139<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(4)<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">39,216<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">11,180<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">20,266<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">10,338<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">75,535<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">37,824<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Impairment of real estate<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">7,189<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">32,154<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,032<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">39,343<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">28,581<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Loss on early extinguishment of debt<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">107<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">107<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Increase (decrease) in provision for expected credit losses on financial instruments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">285<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(434)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">285<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Allocation to unvested restricted stock awards<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(74)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(794)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,329)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,407)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(125)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2,156)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,640)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Funds from operations attributable to Alexandria&#8217;s common stockholders \u2013 <br \/>\u00a0 \u00a0 diluted, as adjusted<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$\u00a0\u00a0 377,825<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$\u00a0\u00a0 396,430<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$\u00a0\u00a0 392,009<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$\u00a0\u00a0 411,825<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$\u00a0\u00a0 407,872<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$\u00a0 1,166,271<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$\u00a0 1,217,250<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen53\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Refer to &#8220;Definitions and\u00a0reconciliations&#8221;\u00a0in the Supplemental Information for additional details.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Includes our share of a gain on sale of real estate asset by an unconsolidated real estate joint venture of $458 thousand, which is classified as equity in earnings of unconsolidated real estate joint ventures in our consolidated statements of operations.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Primarily represents impairment charges to reduce the carrying amount of our investments in real estate assets to their respective estimated fair values less costs to sell upon their classification as held for sale in 3Q25, including (i) $206.2 million related to our only property located in Long Island City, in our New York City market, which was a full building conversion to laboratory\/office space and is currently 52% occupied, (ii) $43.4 million related to a retail shopping center at 550 Arsenal Street that was originally intended to be a life science development in our Cambridge\/Inner Suburbs\u00a0submarket that was sold in October 2025, (iii) $31.8 million related to a vacant property that would require significant re-leasing capital in our Research Triangle submarket, and (iv) $27.8 million related to land parcels in our Sorrento Mesa submarket.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Calculated in accordance with standards established by the Nareit Board of Governors.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(4)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Primarily related to four non-real estate investments in privately held entities that do not report NAV.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">The following table presents a reconciliation of net income (loss) per share attributable to Alexandria&#8217;s common stockholders, the most directly comparable financial measure presented in accordance with GAAP, including our share of amounts from consolidated and unconsolidated real estate joint ventures, to funds from operations per share attributable to Alexandria&#8217;s common stockholders \u2013 diluted, and funds from operations per share attributable to Alexandria&#8217;s common stockholders \u2013 diluted, as adjusted, for the periods below. Per share amounts may not add due to rounding.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"9\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Three Months Ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Nine Months Ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>9\/30\/25<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen44\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>6\/30\/25<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen44\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>3\/31\/25<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen44\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>12\/31\/24<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen44\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>9\/30\/24<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>9\/30\/25<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen44\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>9\/30\/24<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net (loss) income per share attributable to Alexandria&#8217;s common stockholders \u2013 <br \/>\u00a0 \u00a0diluted<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (1.38)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.64)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.07)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.38)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.96<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (2.09)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.18<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Depreciation and amortization of real estate assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.73<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.81<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.80<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.70<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.51<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">5.34<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.49<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Gain on sales of real estate<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.06)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.08)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.58)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.16)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.14)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.16)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Impairment of real estate \u2013 rental properties and land<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.90<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.77<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.07<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.03<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.67<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.05<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Allocation to unvested restricted stock awards<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.01)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.01)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.01)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.02)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.05)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Funds from operations per share attributable to Alexandria&#8217;s common <br \/>\u00a0 \u00a0stockholders \u2013 diluted<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2.18<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1.93<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1.65<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1.81<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2.33<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>5.76<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>6.51<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Unrealized (gains) losses on non-real estate investments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.11)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.13<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.40<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.46<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.02)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.42<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.19<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Impairment of non-real estate investments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.15<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.23<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.07<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.12<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.06<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.45<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.22<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Impairment of real estate<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.04<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.19<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.01<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.23<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.17<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Allocation to unvested restricted stock awards<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.01)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.01)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.01)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.01)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Funds from operations per share attributable to Alexandria&#8217;s common <br \/>\u00a0 \u00a0stockholders \u2013 diluted, as adjusted<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.22<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.33<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.30<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.39<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.37<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6.85<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 7.08<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Weighted-average shares of common stock outstanding \u2013 diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Earnings per share \u2013 diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">170,181<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">170,135<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">170,522<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">172,262<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">172,058<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">170,278<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">172,007<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Funds from operations \u2013 diluted, per share<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">170,305<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">170,192<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">170,599<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">172,262<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">172,058<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">170,351<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">172,007<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Funds from operations \u2013 diluted, as adjusted, per share<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">170,305<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">170,192<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">170,599<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">172,262<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">172,058<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">170,351<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">172,007<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen53\" colspan=\"7\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"7\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Refer to &#8220;Definitions and reconciliations&#8221;\u00a0in the Supplemental Information for additional details.<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder0\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/edge.prnewswire.com\/c\/img\/favicon.png?sn=NY07085&amp;sd=2025-10-27\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share--diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share--diluted-as-adjusted-of-2-22-and-6-85--respectively-302595588.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share&#8211;diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share&#8211;diluted-as-adjusted-of-2-22-and-6-85&#8211;respectively-302595588.html<\/a><\/p>\n<p>SOURCE  Alexandria Real Estate Equities, Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=NY07085&amp;Transmission_Id=202510271610PR_NEWS_USPR_____NY07085&amp;DateId=20251027\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire PASADENA, Calif. , Oct. 27, 2025 \/PRNewswire\/ &#8212; Alexandria Real Estate Equities, Inc. (NYSE: ARE) announced financial and operating results for the third quarter ended September 30, 2025. \u00a0 Key highlights YTD Operating results 3Q25 3Q24 3Q25 3Q24 Net (loss) income attributable to Alexandria&#8217;s common stockholders \u2013 diluted: \u00a0 In millions $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (234.9) $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 164.7 $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (356.1) $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 374.5 \u00a0 Per share $\u00a0 \u00a0 \u00a0 \u00a0 \u00a0(1.38) $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.96 $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (2.09) $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.18 Funds from operations attributable to Alexandria&#8217;s common stockholders \u2013 diluted, as adjusted: \u00a0 In millions $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 377.8 $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 407.9 $\u00a0\u00a0\u00a0\u00a0\u00a0 1,166.3 $\u00a0\u00a0\u00a0\u00a0\u00a0 1,217.3 \u00a0 Per share $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.22 $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.37 $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6.85 $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 7.08 A sector-leading REIT with a high-quality, diverse tenant base, strong margins, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share-diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share-diluted-as-adjusted-of-2-22\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Alexandria Real Estate Equities, Inc. Reports: 3Q25 and YTD 3Q25 Net Loss per Share &#8211; Diluted of $(1.38) and $(2.09), respectively; and 3Q25 and YTD 3Q25 FFO per Share &#8211; Diluted, as Adjusted, of $2.22 and $6.85, respectively&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-900756","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Alexandria Real Estate Equities, Inc. Reports: 3Q25 and YTD 3Q25 Net Loss per Share - Diluted of $(1.38) and $(2.09), respectively; and 3Q25 and YTD 3Q25 FFO per Share - Diluted, as Adjusted, of $2.22 and $6.85, respectively - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share-diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share-diluted-as-adjusted-of-2-22\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alexandria Real Estate Equities, Inc. Reports: 3Q25 and YTD 3Q25 Net Loss per Share - Diluted of $(1.38) and $(2.09), respectively; and 3Q25 and YTD 3Q25 FFO per Share - Diluted, as Adjusted, of $2.22 and $6.85, respectively - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire PASADENA, Calif. , Oct. 27, 2025 \/PRNewswire\/ &#8212; Alexandria Real Estate Equities, Inc. (NYSE: ARE) announced financial and operating results for the third quarter ended September 30, 2025. \u00a0 Key highlights YTD Operating results 3Q25 3Q24 3Q25 3Q24 Net (loss) income attributable to Alexandria&#8217;s common stockholders \u2013 diluted: \u00a0 In millions $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (234.9) $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 164.7 $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (356.1) $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 374.5 \u00a0 Per share $\u00a0 \u00a0 \u00a0 \u00a0 \u00a0(1.38) $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.96 $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (2.09) $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.18 Funds from operations attributable to Alexandria&#8217;s common stockholders \u2013 diluted, as adjusted: \u00a0 In millions $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 377.8 $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 407.9 $\u00a0\u00a0\u00a0\u00a0\u00a0 1,166.3 $\u00a0\u00a0\u00a0\u00a0\u00a0 1,217.3 \u00a0 Per share $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.22 $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.37 $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6.85 $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 7.08 A sector-leading REIT with a high-quality, diverse tenant base, strong margins, &hellip; Continue reading &quot;Alexandria Real Estate Equities, Inc. Reports: 3Q25 and YTD 3Q25 Net Loss per Share &#8211; Diluted of $(1.38) and $(2.09), respectively; and 3Q25 and YTD 3Q25 FFO per Share &#8211; Diluted, as Adjusted, of $2.22 and $6.85, respectively&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share-diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share-diluted-as-adjusted-of-2-22\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-10-27T20:34:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/2060728\/Alexandria_Real_Estate_Logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"33 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share-diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share-diluted-as-adjusted-of-2-22\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share-diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share-diluted-as-adjusted-of-2-22\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Alexandria Real Estate Equities, Inc. Reports: 3Q25 and YTD 3Q25 Net Loss per Share &#8211; Diluted of $(1.38) and $(2.09), respectively; and 3Q25 and YTD 3Q25 FFO per Share &#8211; Diluted, as Adjusted, of $2.22 and $6.85, respectively\",\"datePublished\":\"2025-10-27T20:34:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share-diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share-diluted-as-adjusted-of-2-22\\\/\"},\"wordCount\":6554,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share-diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share-diluted-as-adjusted-of-2-22\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/2060728\\\/Alexandria_Real_Estate_Logo.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share-diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share-diluted-as-adjusted-of-2-22\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share-diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share-diluted-as-adjusted-of-2-22\\\/\",\"name\":\"Alexandria Real Estate Equities, Inc. 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Reports: 3Q25 and YTD 3Q25 Net Loss per Share - Diluted of $(1.38) and $(2.09), respectively; and 3Q25 and YTD 3Q25 FFO per Share - Diluted, as Adjusted, of $2.22 and $6.85, respectively - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share-diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share-diluted-as-adjusted-of-2-22\/","og_locale":"en_US","og_type":"article","og_title":"Alexandria Real Estate Equities, Inc. Reports: 3Q25 and YTD 3Q25 Net Loss per Share - Diluted of $(1.38) and $(2.09), respectively; and 3Q25 and YTD 3Q25 FFO per Share - Diluted, as Adjusted, of $2.22 and $6.85, respectively - Market Newsdesk","og_description":"PR Newswire PASADENA, Calif. , Oct. 27, 2025 \/PRNewswire\/ &#8212; Alexandria Real Estate Equities, Inc. (NYSE: ARE) announced financial and operating results for the third quarter ended September 30, 2025. \u00a0 Key highlights YTD Operating results 3Q25 3Q24 3Q25 3Q24 Net (loss) income attributable to Alexandria&#8217;s common stockholders \u2013 diluted: \u00a0 In millions $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (234.9) $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 164.7 $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (356.1) $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 374.5 \u00a0 Per share $\u00a0 \u00a0 \u00a0 \u00a0 \u00a0(1.38) $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.96 $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (2.09) $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.18 Funds from operations attributable to Alexandria&#8217;s common stockholders \u2013 diluted, as adjusted: \u00a0 In millions $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 377.8 $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 407.9 $\u00a0\u00a0\u00a0\u00a0\u00a0 1,166.3 $\u00a0\u00a0\u00a0\u00a0\u00a0 1,217.3 \u00a0 Per share $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.22 $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.37 $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6.85 $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 7.08 A sector-leading REIT with a high-quality, diverse tenant base, strong margins, &hellip; Continue reading \"Alexandria Real Estate Equities, Inc. Reports: 3Q25 and YTD 3Q25 Net Loss per Share &#8211; Diluted of $(1.38) and $(2.09), respectively; and 3Q25 and YTD 3Q25 FFO per Share &#8211; Diluted, as Adjusted, of $2.22 and $6.85, respectively\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share-diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share-diluted-as-adjusted-of-2-22\/","og_site_name":"Market Newsdesk","article_published_time":"2025-10-27T20:34:03+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/2060728\/Alexandria_Real_Estate_Logo.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"33 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share-diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share-diluted-as-adjusted-of-2-22\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share-diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share-diluted-as-adjusted-of-2-22\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Alexandria Real Estate Equities, Inc. Reports: 3Q25 and YTD 3Q25 Net Loss per Share &#8211; Diluted of $(1.38) and $(2.09), respectively; and 3Q25 and YTD 3Q25 FFO per Share &#8211; Diluted, as Adjusted, of $2.22 and $6.85, respectively","datePublished":"2025-10-27T20:34:03+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share-diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share-diluted-as-adjusted-of-2-22\/"},"wordCount":6554,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share-diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share-diluted-as-adjusted-of-2-22\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/2060728\/Alexandria_Real_Estate_Logo.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share-diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share-diluted-as-adjusted-of-2-22\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share-diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share-diluted-as-adjusted-of-2-22\/","name":"Alexandria Real Estate Equities, Inc. Reports: 3Q25 and YTD 3Q25 Net Loss per Share - Diluted of $(1.38) and $(2.09), respectively; and 3Q25 and YTD 3Q25 FFO per Share - Diluted, as Adjusted, of $2.22 and $6.85, respectively - Market Newsdesk","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share-diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share-diluted-as-adjusted-of-2-22\/#primaryimage"},"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share-diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share-diluted-as-adjusted-of-2-22\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/2060728\/Alexandria_Real_Estate_Logo.jpg","datePublished":"2025-10-27T20:34:03+00:00","author":{"@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"breadcrumb":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share-diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share-diluted-as-adjusted-of-2-22\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.marketnewsdesk.com\/index.php\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share-diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share-diluted-as-adjusted-of-2-22\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share-diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share-diluted-as-adjusted-of-2-22\/#primaryimage","url":"https:\/\/mma.prnewswire.com\/media\/2060728\/Alexandria_Real_Estate_Logo.jpg","contentUrl":"https:\/\/mma.prnewswire.com\/media\/2060728\/Alexandria_Real_Estate_Logo.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/alexandria-real-estate-equities-inc-reports-3q25-and-ytd-3q25-net-loss-per-share-diluted-of-1-38-and-2-09-respectively-and-3q25-and-ytd-3q25-ffo-per-share-diluted-as-adjusted-of-2-22\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.marketnewsdesk.com\/"},{"@type":"ListItem","position":2,"name":"Alexandria Real Estate Equities, Inc. 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