Condensed consolidating financial information (Tables)

9 Months Ended

Sep. 30, 2014

Condensed Consolidated Financial Information [Abstract]

Condensed consolidating balance sheet

Consolidating Balance Sheet

as of September 30, 2014

(In thousands)

(Unaudited)

	Alexandria Real Estate Equities, Inc. (Issuer)		Alexandria Real Estate Equities, L.P. (Guarantor Subsidiary)		Combined Non- Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Investments in real estate	$	—	$	—	$	7,197,630	$	—		$	7,197,630
Cash and cash equivalents	21,455		—		45,568		—			67,023
Restricted cash	70		—		24,175		—			24,245
Tenant receivables	—		—		10,830		—			10,830
Deferred rent	—		—		225,506		—			225,506
Deferred leasing and financing costs	37,486		—		162,349		—			199,835
Investments	—		8,147		169,430		—			177,577
Investments in and advances to affiliates	6,812,172		6,291,506		129,268		(13,232,946		)	—
Other assets	19,244		—		98,424		—			117,668
Total assets	$	6,890,427	$	6,299,653	$	8,063,180	$	(13,232,946	)	$	8,020,314
Liabilities, Noncontrolling Interests, and Equity
Secured notes payable	$	—	$	—	$	636,825	$	—		$	636,825
Unsecured senior notes payable	1,747,290		—		—		—			1,747,290
Unsecured senior line of credit	142,000		—		—		—			142,000
Unsecured senior bank term loans	975,000		—		—		—			975,000
Accounts payable, accrued expenses, and tenant security deposits	93,679		—		410,856		—			504,535
Dividends payable	57,260		—		289		—			57,549
Total liabilities	3,015,229		—		1,047,970		—			4,063,199
Redeemable noncontrolling interests	—		—		14,348		—			14,348
Alexandria Real Estate Equities, Inc.’s stockholders’ equity	3,875,198		6,299,653		6,933,293		(13,232,946		)	3,875,198
Noncontrolling interests	—		—		67,569		—			67,569
Total equity	3,875,198		6,299,653		7,000,862		(13,232,946		)	3,942,767
Total liabilities, noncontrolling interests, and equity	$	6,890,427	$	6,299,653	$	8,063,180	$	(13,232,946	)	$	8,020,314

Condensed Consolidating Balance Sheet

as of December 31, 2013

(In thousands)

(Unaudited)

	Alexandria Real Estate Equities, Inc. (Issuer)		Alexandria Real Estate Equities, L.P. (Guarantor Subsidiary)		Combined Non- Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Investments in real estate	$	—	$	—	$	6,776,914	$	—		$	6,776,914
Cash and cash equivalents	14,790		—		42,906		—			57,696
Restricted cash	55		—		27,654		—			27,709
Tenant receivables	—		—		9,918		—			9,918
Deferred rent	—		—		190,425		—			190,425
Deferred leasing and financing costs	36,901		—		155,757		—			192,658
Investments	—		10,868		129,420		—			140,288
Investments in and advances to affiliates	6,299,551		5,823,058		119,421		(12,242,030		)	—
Other assets	20,226		—		113,930		—			134,156
Total assets	$	6,371,523	$	5,833,926	$	7,566,345	$	(12,242,030	)	$	7,529,764
Liabilities, Noncontrolling Interests, and Equity
Secured notes payable	$	—	$	—	$	708,831	$	—		$	708,831
Unsecured senior notes payable	1,048,230		—		—		—			1,048,230
Unsecured senior line of credit	204,000		—		—		—			204,000
Unsecured senior bank term loans	1,100,000		—		—		—			1,100,000
Accounts payable, accrued expenses, and tenant security deposits	48,373		—		386,969		—			435,342
Dividends payable	54,131		—		289		—			54,420
Total liabilities	2,454,734		—		1,096,089		—			3,550,823
Redeemable noncontrolling interests	—		—		14,444		—			14,444
Alexandria Real Estate Equities, Inc.’s stockholders’ equity	3,916,789		5,833,926		6,408,104		(12,242,030		)	3,916,789
Noncontrolling interests	—		—		47,708		—			47,708
Total equity	3,916,789		5,833,926		6,455,812		(12,242,030		)	3,964,497
Total liabilities, noncontrolling interests, and equity	$	6,371,523	$	5,833,926	$	7,566,345	$	(12,242,030	)	$	7,529,764

Condensed consolidating statements of income

Condensed Consolidating Statement of Income

for the Three Months Ended September 30, 2014

(In thousands)

(Unaudited)

	Alexandria Real Estate Equities, Inc. (Issuer)			Alexandria Real Estate Equities, L.P. (Guarantor Subsidiary)			Combined Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Rental	$	—		$	—		$	137,718		$	—		$	137,718
Tenant recoveries	—			—			45,572			—			45,572
Other income	2,797			(1,264		)	4,369			(3,577		)	2,325
Total revenues	2,797			(1,264		)	187,659			(3,577		)	185,615
Expenses:
Rental operations	—			—			57,423			—			57,423
General and administrative	11,369			—			4,817			(3,577		)	12,609
Interest	15,307			—			5,248			—			20,555
Depreciation and amortization	1,408			—			56,980			—			58,388
Loss on early extinguishment of debt	525			—			—			—			525
Total expenses	28,609			—			124,468			(3,577		)	149,500
(Loss) income from continuing operations before equity in earnings of affiliates	(25,812		)	(1,264		)	63,191			—			36,115
Equity in earnings of affiliates	60,415			58,381			1,127			(119,923		)	—
Income from continuing operations	34,603			57,117			64,318			(119,923		)	36,115
Loss from discontinued operations	—			—			(180		)	—			(180		)
Gain on sales of land parcels	—			—			8			—			8
Net income	34,603			57,117			64,146			(119,923		)	35,943
Dividends on preferred stock	(6,471		)	—			—			—			(6,471		)
Net income attributable to noncontrolling interests	—			—			(1,340		)	—			(1,340		)
Net income attributable to unvested restricted stock awards	(506		)	—			—			—			(506		)
Net income attributable to Alexandria Real Estate Equities, Inc.’s common stockholders	$	27,626		$	57,117		$	62,806		$	(119,923	)	$	27,626

Condensed Consolidating Statement of Income

for the Three Months Ended September 30, 2013

(In thousands)

(Unaudited)

	Alexandria Real Estate Equities, Inc. (Issuer)			Alexandria Real Estate Equities, L.P. (Guarantor Subsidiary)			Combined Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Rental	$	—		$	—		$	116,052		$	—		$	116,052
Tenant recoveries	—			—			38,691			—			38,691
Other income	2,802			(1		)	3,966			(3,195		)	3,572
Total revenues	2,802			(1		)	158,709			(3,195		)	158,315
Expenses:
Rental operations	—			—			47,684			—			47,684
General and administrative	10,140			—			4,721			(3,195		)	11,666
Interest	10,238			—			5,933			—			16,171
Depreciation and amortization	1,473			—			47,393			—			48,866
Loss on early extinguishment of debt	1,432			—			—			—			1,432
Total expenses	23,283			—			105,731			(3,195		)	125,819
(Loss) income from continuing operations before equity in earnings of affiliates	(20,481		)	(1		)	52,978			—			32,496
Equity in earnings of affiliates	51,975			48,477			959			(101,411		)	—
Income from continuing operations	31,494			48,476			53,937			(101,411		)	32,496
Loss from discontinued operations	(1		)	—			(42		)	—			(43		)
Net income	31,493			48,476			53,895			(101,411		)	32,453
Dividends on preferred stock	(6,472		)	—			—			—			(6,472		)
Net income attributable to noncontrolling interests	—			—			(960		)	—			(960		)
Net income attributable to unvested restricted stock awards	(442		)	—			—			—			(442		)
Net income attributable to Alexandria Real Estate Equities, Inc.’s common stockholders	$	24,579		$	48,476		$	52,935		$	(101,411	)	$	24,579

Condensed Consolidating Statement of Income

for the Nine Months Ended September 30, 2014

(In thousands)

(Unaudited)

	Alexandria Real Estate Equities, Inc. (Issuer)			Alexandria Real Estate Equities, L.P. (Guarantor Subsidiary)			Combined Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Rental	$	—		$	—		$	403,280		$	—		$	403,280
Tenant recoveries	—			—			128,198			—			128,198
Other income	8,632			(2,799		)	11,534			(10,642		)	6,725
Total revenues	8,632			(2,799		)	543,012			(10,642		)	538,203
Expenses:
Rental operations	—			—			162,283			—			162,283
General and administrative	33,735			—			16,576			(10,642		)	39,669
Interest	41,339			—			15,772			—			57,111
Depreciation and amortization	4,335			—			161,788			—			166,123
Loss on early extinguishment of debt	525			—			—			—			525
Total expenses	79,934			—			356,419			(10,642		)	425,711
(Loss) income from continuing operations before equity in earnings of affiliates	(71,302		)	(2,799		)	186,593			—			112,492
Equity in earnings of affiliates	180,275			172,989			3,356			(356,620		)	—
Income from continuing operations	108,973			170,190			189,949			(356,620		)	112,492
Loss from discontinued operations	(7		)	—			(482		)	—			(489		)
Gain on sales of land parcels	—			—			805			—			805
Net income	108,966			170,190			190,272			(356,620		)	112,808
Dividends on preferred stock	(19,414		)	—			—			—			(19,414		)
Net income attributable to noncontrolling interests	—			—			(3,842		)	—			(3,842		)
Net income attributable to unvested restricted stock awards	(1,285		)	—			—			—			(1,285		)
Net income attributable to Alexandria Real Estate Equities, Inc.’s common stockholders	$	88,267		$	170,190		$	186,430		$	(356,620	)	$	88,267

Condensed Consolidating Statement of Income

for the Nine Months Ended September 30, 2013

(In thousands)

(Unaudited)

	Alexandria Real Estate Equities, Inc. (Issuer)			Alexandria Real Estate Equities, L.P. (Guarantor Subsidiary)			Combined Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Rental	$	—		$	—		$	342,071		$	—		$	342,071
Tenant recoveries	—			—			110,125			—			110,125
Other income	8,071			(142		)	11,635			(9,432		)	10,132
Total revenues	8,071			(142		)	463,831			(9,432		)	462,328
Expenses:
Rental operations	—			—			139,147			—			139,147
General and administrative	32,573			—			12,628			(9,432		)	35,769
Interest	32,048			—			18,121			—			50,169
Depreciation and amortization	4,394			—			136,645			—			141,039
Loss on early extinguishment of debt	1,992			—			—			—			1,992
Total expenses	71,007			—			306,541			(9,432		)	368,116
(Loss) income from continuing operations before equity in earnings of affiliates	(62,936		)	(142		)	157,290			—			94,212
Equity in earnings of affiliates	155,694			144,660			2,858			(303,212		)	—
Income from continuing operations	92,758			144,518			160,148			(303,212		)	94,212
Income from discontinued operations	347			—			696			—			1,043
Gain on sales of land parcels	—			—			772			—			772
Net income	93,105			144,518			161,616			(303,212		)	96,027
Dividends on preferred stock	(19,414		)	—			—			—			(19,414		)
Net income attributable to noncontrolling interests	—			—			(2,922		)	—			(2,922		)
Net income attributable to unvested restricted stock awards	(1,187		)	—			—			—			(1,187		)
Net income attributable to Alexandria Real Estate Equities, Inc.’s common stockholders	$	72,504		$	144,518		$	158,694		$	(303,212	)	$	72,504

Condensed consolidating statement comprehensive income

Condensed Consolidating Statement of Comprehensive Income

for the Three Months Ended September 30, 2014

(In thousands)

(Unaudited)

	Alexandria Real Estate Equities, Inc. (Issuer)		Alexandria Real Estate Equities, L.P. (Guarantor Subsidiary)			Combined Non- Guarantor Subsidiaries			Eliminations			Consolidated
Net income	$	34,603	$	57,117		$	64,146		$	(119,923	)	$	35,943
Other comprehensive income (loss):
Unrealized losses on marketable securities:
Unrealized holding losses arising during the period	—		(310		)	(2,144		)	—			(2,454		)
Reclassification adjustment for losses included in net income	—		—			111			—			111
Unrealized losses on marketable securities, net	—		(310		)	(2,033		)	—			(2,343		)
Unrealized gains on interest rate swap agreements:
Unrealized interest rate swap gains arising during the period	1,206		—			—			—			1,206
Reclassification adjustment for amortization of interest expense included in net income	1,129		—			—			—			1,129
Unrealized gains on interest rate swap agreements, net	2,335		—			—			—			2,335
Unrealized losses on foreign currency translation:
Unrealized foreign currency translation losses during the period	—		—			(12,259		)	—			(12,259		)
Reclassification adjustment for gains included in net income	—		—			(199		)	—			(199		)
Unrealized losses on foreign currency translation, net	—		—			(12,458		)	—			(12,458		)
Total other comprehensive income (loss)	2,335		(310		)	(14,491		)	—			(12,466		)
Comprehensive income	36,938		56,807			49,655			(119,923		)	23,477
Less: comprehensive income attributable to noncontrolling interests	—		—			(1,340		)	—			(1,340		)
Comprehensive income attributable to Alexandria’s common stockholders	$	36,938	$	56,807		$	48,315		$	(119,923	)	$	22,137

Condensed Consolidating Statement of Comprehensive Income

for the Three Months Ended September 30, 2013

(In thousands)

(Unaudited)

	Alexandria Real Estate Equities, Inc. (Issuer)			Alexandria Real Estate Equities, L.P. (Guarantor Subsidiary)			Combined Non- Guarantor Subsidiaries			Eliminations			Consolidated
Net income	$	31,493		$	48,476		$	53,895		$	(101,411	)	$	32,453
Other comprehensive income (loss):
Unrealized losses on marketable securities:
Unrealized holding (losses) gains arising during the period	—			(796		)	759			—			(37		)
Reclassification adjustment for losses (gains) included in net income	—			519			(769		)	—			(250		)
Unrealized losses on marketable securities, net	—			(277		)	(10		)	—			(287		)
Unrealized gains on interest rate swap agreements:
Unrealized interest rate swap losses arising during the period	(676		)	—			—			—			(676		)
Reclassification adjustment for amortization of interest expense included in net income	3,904			—			—			—			3,904
Unrealized gains on interest rate swap agreements, net	3,228			—			—			—			3,228
Foreign currency translation losses	—			—			(3,404		)	—			(3,404		)
Total other comprehensive income (loss)	3,228			(277		)	(3,414		)	—			(463		)
Comprehensive income	34,721			48,199			50,481			(101,411		)	31,990
Less: comprehensive income attributable to noncontrolling interests	—			—			(933		)	—			(933		)
Comprehensive income attributable to Alexandria’s common stockholders	$	34,721		$	48,199		$	49,548		$	(101,411	)	$	31,057

Condensed Consolidating Statement of Comprehensive Income

for the Nine Months Ended September 30, 2014

(In thousands)

(Unaudited)

	Alexandria Real Estate Equities, Inc. (Issuer)			Alexandria Real Estate Equities, L.P. (Guarantor Subsidiary)		Combined Non- Guarantor Subsidiaries			Eliminations			Consolidated
Net income	$	108,966		$	170,190	$	190,272		$	(356,620	)	$	112,808
Other comprehensive income:
Unrealized gains on marketable securities:
Unrealized holding gains arising during the period	—			—		13,591			—			13,591
Reclassification adjustment for losses included in net income	—			—		517			—			517
Unrealized gains on marketable securities, net	—			—		14,108			—			14,108
Unrealized gains on interest rate swap agreements:
Unrealized interest rate swap losses arising during the period	(2,708		)	—		—			—			(2,708		)
Reclassification adjustment for amortization of interest expense included in net income	5,742			—		—			—			5,742
Unrealized gains on interest rate swap agreements, net	3,034			—		—			—			3,034
Unrealized losses on foreign currency translation:
Unrealized foreign currency translation losses during the period	—			—		(9,450		)	—			(9,450		)
Reclassification adjustment for gains included in net income	—			—		(199		)	—			(199		)
Unrealized losses on foreign currency translation, net	—			—		(9,649		)	—			(9,649		)
Total other comprehensive income	3,034			—		4,459			—			7,493
Comprehensive income	112,000			170,190		194,731			(356,620		)	120,301
Less: comprehensive income attributable to noncontrolling interests	—			—		(3,842		)	—			(3,842		)
Comprehensive income attributable to Alexandria’s common stockholders	$	112,000		$	170,190	$	190,889		$	(356,620	)	$	116,459

Condensed Consolidating Statement of Comprehensive Income

for the Nine Months Ended September 30, 2013

(In thousands)

(Unaudited)

	Alexandria Real Estate Equities, Inc. (Issuer)			Alexandria Real Estate Equities, L.P. (Guarantor Subsidiary)			Combined Non- Guarantor Subsidiaries			Eliminations			Consolidated
Net income	$	93,105		$	144,518		$	161,616		$	(303,212	)	$	96,027
Other comprehensive income (loss):
Unrealized (losses) gains on marketable securities:
Unrealized holding (losses) gains arising during the period	—			(391		)	714			—			323
Reclassification adjustment for losses (gains) included in net income	—			144			(624		)	—			(480		)
Unrealized (losses) gains on marketable securities, net	—			(247		)	90			—			(157		)
Unrealized gains on interest rate swap agreements:
Unrealized interest rate swap losses arising during the period	(704		)	—			—			—			(704		)
Reclassification adjustment for amortization of interest expense included in net income	12,046			—			—			—			12,046
Unrealized gains on interest rate swap agreements, net	11,342			—			—			—			11,342
Foreign currency translation losses	—			—			(26,461		)	—			(26,461		)
Total other comprehensive income (loss)	11,342			(247		)	(26,371		)	—			(15,276		)
Comprehensive income	104,447			144,271			135,245			(303,212		)	80,751
Less: comprehensive income attributable to noncontrolling interests	—			—			(2,839		)	—			(2,839		)
Comprehensive income attributable to Alexandria’s common stockholders	$	104,447		$	144,271		$	132,406		$	(303,212	)	$	77,912

Condensed consolidating statement cash flows

Condensed Consolidating Statement of Cash Flows

for the Nine Months Ended September 30, 2014

(In thousands)

(Unaudited)

	Alexandria Real Estate Equities, Inc. (Issuer)			Alexandria Real Estate Equities, L.P. (Guarantor Subsidiary)			Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
Operating Activities
Net income	$	108,966		$	170,190		$	190,272		$	(356,620	)	$	112,808
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	4,335			—			161,788			—			166,123
Loss on early extinguishment of debt	525			—			—			—			525
Gain on sale of land parcel	—			—			(805		)	—			(805		)
Amortization of loan fees and costs	5,424			—			2,666			—			8,090
Amortization of debt premiums/discounts	152			—			(52		)	—			100
Amortization of acquired above and below market leases	—			—			(2,191		)	—			(2,191		)
Deferred rent	—			—			(35,511		)	—			(35,511		)
Stock compensation expense	9,372			—			—			—			9,372
Equity in income related to subsidiaries	(180,275		)	(172,989		)	(3,356		)	356,620			—
Investment gains	—			(3		)	(9,478		)	—			(9,481		)
Investment losses	—			2,802			5,923			—			8,725
Changes in operating assets and liabilities:
Restricted cash	(15		)	—			15			—			—
Tenant receivables	—			—			(939		)	—			(939		)
Deferred leasing costs	(80		)	—			(25,830		)	—			(25,910		)
Other assets	(5,263		)	—			(6,965		)	—			(12,228		)
Accounts payable, accrued expenses, and tenant security deposits	50,210			—			(13,764		)	—			36,446
Net cash (used in) provided by operating activities	(6,649		)	—			261,773			—			255,124
Investing Activities
Proceeds from sale of properties	—			—			28,378			—			28,378
Additions to properties	—			—			(345,074		)	—			(345,074		)
Purchase of properties	—			—			(97,785		)	—			(97,785		)
Deposits for property acquisitions	—			—			(7,292		)	—			(7,292		)
Change in restricted cash related to construction projects	—			—			6,694			—			6,694
Investment in unconsolidated real estate entity	—			—			(67,525		)	—			(67,525		)
Investments in subsidiaries	(322,228		)	(291,300		)	(12,150		)	625,678			—
Additions to investments	—			—			(35,484		)	—			(35,484		)
Proceeds from sales of investments	—			—			13,883			—			13,883
Proceeds from repayment of notes receivable	—			—			29,866			—			29,866
Net cash used in investing activities	$	(322,228	)	$	(291,300	)	$	(486,489	)	$	625,678		$	(474,339	)

Condensed Consolidating Statement of Cash Flows (continued)

for the Nine Months Ended September 30, 2014

(In thousands)

(Unaudited)

	Alexandria Real Estate Equities, Inc. (Issuer)			Alexandria Real Estate Equities, L.P. (Guarantor Subsidiary)		Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
Financing Activities
Borrowings from secured notes payable	$	—		$	—	$	108,626		$	—		$	108,626
Repayments of borrowings from secured notes payable	—			—		(228,909		)	—			(228,909		)
Proceeds from issuance of unsecured senior notes payable	698,908			—		—			—			698,908
Principal borrowings from unsecured senior line of credit	890,000			—		—			—			890,000
Repayments of borrowings from unsecured senior line of credit	(952,000		)	—		—			—			(952,000		)
Repayment of unsecured senior bank term loan	(125,000		)	—		—			—			(125,000		)
Transfer to/from parent company	103			291,300		334,275			(625,678		)	—
Change in restricted cash related to financings	—			—		375			—			375
Deferred financing costs paid	(6,515		)	—		(1,474		)	—			(7,989		)
Dividends paid on common stock	(150,540		)	—		—			—			(150,540		)
Dividends paid on preferred stock	(19,414		)	—		—			—			(19,414		)
Contributions by noncontrolling interests	—			—		19,410			—			19,410
Distributions to noncontrolling interests	—			—		(2,594		)	—			(2,594		)
Distributions to redeemable noncontrolling interests	—			—		(893		)	—			(893		)
Net cash provided by financing activities	335,542			291,300		228,816			(625,678		)	229,980
Effect of foreign exchange rate changes on cash and cash equivalents	—			—		(1,438		)	—			(1,438		)
Net increase in cash and cash equivalents	6,665			—		2,662			—			9,327
Cash and cash equivalents at beginning of period	14,790			—		42,906			—			57,696
Cash and cash equivalents at end of period	$	21,455		$	—	$	45,568		$	—		$	67,023
Supplemental Disclosure of Cash Flow Information
Cash paid during the period for interest, net of interest capitalized	$	20,089		$	—	$	13,694		$	—		$	33,783
Non-Cash Investing Activities
Assumption of secured notes payable in connection with purchase of properties	$	—		$	—	$	(48,329	)	$	—		$	(48,329	)

Condensed Consolidating Statement of Cash Flows

for the Nine Months Ended September 30, 2013

(In thousands)

(Unaudited)

	Alexandria Real Estate Equities, Inc. (Issuer)			Alexandria Real Estate Equities, L.P. (Guarantor Subsidiary)			Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
Operating Activities
Net income	$	93,105		$	144,518		$	161,616		$	(303,212	)	$	96,027
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	4,393			—			138,284			—			142,677
Loss on early extinguishment of debt	1,992			—			—			—			1,992
Gain on sale of land parcel	—			—			(772		)	—			(772		)
Loss on sale of real estate	—			—			121			—			121
Amortization of loan fees and costs	5,148			—			2,152			—			7,300
Amortization of debt premiums/discounts	75			—			308			—			383
Amortization of acquired above and below market leases	—			—			(2,490		)	—			(2,490		)
Deferred rent	—			—			(20,007		)	—			(20,007		)
Stock compensation expense	11,541			—			—			—			11,541
Equity in income related to subsidiaries	(155,694		)	(144,660		)	(2,858		)	303,212			—
Investment gains	—			(152		)	(4,564		)	—			(4,716		)
Investment losses	—			298			231			—			529
Changes in operating assets and liabilities:
Restricted cash	(8		)	—			1,251			—			1,243
Tenant receivables	1			—			(272		)	—			(271		)
Deferred leasing costs	2,421			—			(39,611		)	—			(37,190		)
Other assets	(5,570		)	—			(5,858		)	—			(11,428		)
Intercompany receivables and payables	3,021			—			(3,021		)	—			—
Accounts payable, accrued expenses, and tenant security deposits	(9,599		)	—			61,036			—			51,437
Net cash (used in) provided by operating activities	(49,174		)	4			285,546			—			236,376
Investing Activities
Proceeds from sale of properties	10,796			—			91,019			—			101,815
Additions to properties	3,539			—			(453,679		)	—			(450,140		)
Purchase of properties	—			—			(24,537		)	—			(24,537		)
Change in restricted cash related to construction projects	—			—			5,711			—			5,711
Investment in unconsolidated real estate entity	—			—			(13,881		)	—			(13,881		)
Investments in subsidiaries	(126,967		)	(170,033		)	(3,045		)	300,045			—
Additions to investments	—			—			(22,835		)	—			(22,835		)
Proceeds from sales of investments	—			1,594			11,156			—			12,750
Net cash used in investing activities	$	(112,632	)	$	(168,439	)	$	(410,091	)	$	300,045		$	(391,117	)

Condensed Consolidating Statement of Cash Flows (continued)

for the Nine Months Ended September 30, 2013

(In thousands)

(Unaudited)

	Alexandria Real Estate Equities, Inc. (Issuer)			Alexandria Real Estate Equities, L.P. (Guarantor Subsidiary)			Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
Financing Activities
Borrowings from secured notes payable	$	—		$	—		$	26,319		$	—		$	26,319
Repayments of borrowings from secured notes payable	—			—			(34,120		)	—			(34,120		)
Proceeds from issuance of senior notes payable	498,561			—			—			—			498,561
Principal borrowings from unsecured senior line of credit	319,000			—			—			—			319,000
Repayments of borrowings from unsecured senior line of credit	(871,000		)	—			—			—			(871,000		)
Repayments of unsecured senior bank term loans	(250,000		)	—			—			—			(250,000		)
Repurchase of unsecured senior convertible notes	(384		)	—			—			—			(384		)
Transfer to/from parent company	—			166,522			133,523			(300,045		)	—
Change in restricted cash related to financings	(1		)	—			924			—			923
Deferred financing costs paid	(14,175		)	—			(2,072		)	—			(16,247		)
Proceeds from common stock offerings	535,686			—			—			—			535,686
Dividends paid on common stock	(120,367		)	—			—			—			(120,367		)
Dividends paid on preferred stock	(19,414		)	—			—			—			(19,414		)
Distributions to noncontrolling interests	—			—			(2,100		)	—			(2,100		)
Net cash provided by financing activities	77,906			166,522			122,474			(300,045		)	66,857
Effect of foreign exchange rate changes on cash and cash equivalents	—			—			752			—			752
Net decrease in cash and cash equivalents	(83,900		)	(1,913		)	(1,319		)	—			(87,132		)
Cash and cash equivalents at beginning of period	98,567			1,913			40,491			—			140,971
Cash and cash equivalents at end of period	$	14,667		$	—		$	39,172		$	—		$	53,839
Supplemental Disclosure of Cash Flow Information
Cash paid during the period for interest, net of interest capitalized	$	16,569		$	—		$	17,712		$	—		$	34,281
Non-Cash Investing Activities
Note receivable issued in connection with sale of real estate	$	29,820		$	—		$	9,000		$	—		$	38,820