Schedule III - Consolidated Financial Statement Schedule of Rental Properties and Accumulated Depreciation (Notes)

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III - Consolidated Financial Statement Schedule of Rental Properties and Accumulated Depreciation

Alexandria Real Estate Equities, Inc. and Subsidiaries

Schedule III

Consolidated Financial Statement Schedule of Real Estate and Accumulated Depreciation

December 31, 2019

(Dollars in thousands)

				Initial Costs				Costs Capitalized Subsequent to Acquisitions		Total Costs
Property	Market	Encumbrances		Land		Buildings & Improvements		Buildings & Improvements		Land		Buildings & Improvements		Total(1)		Accumulated Depreciation(2)			Net Cost Basis		Date of Construction(3)	Date Acquired
Alexandria Center® at Kendall Square	Greater Boston	$	—	$	279,668	$	205,491	$	1,440,945	$	279,668	$	1,646,436	$	1,926,104	$	(241,801	)	$	1,684,303	2000 - 2017	2005 - 2015
Alexandria Technology Square®	Greater Boston	—		—		619,658		234,311		—		853,969		853,969		(251,017		)	602,952		2001 - 2012	2006
The Arsenal on the Charles	Greater Boston	—		181,797		354,611		1,464		181,797		356,075		537,872		—			537,872		2000 - 2017	2019
Alexandria Center® at One Kendall Square	Greater Boston	208,411		349,952		483,816		282,309		349,952		766,125		1,116,077		(80,606		)	1,035,471		1985 - 2019	2016 - 2017
480 and 500 Arsenal Street	Greater Boston	—		9,773		12,773		88,226		9,773		100,999		110,772		(40,689		)	70,083		2001 - 2003	2000 - 2001
640 Memorial Drive	Greater Boston	81,175		—		174,878		741		—		175,619		175,619		(36,598		)	139,021		2011	2015
780 and 790 Memorial Drive	Greater Boston	—		—		—		54,490		—		54,490		54,490		(24,387		)	30,103		2002	2001
167 Sidney Street and 99 Erie Street	Greater Boston	—		—		12,613		13,733		—		26,346		26,346		(7,383		)	18,963		2006 - 2012	2005 - 2006
79/96 13th Street (Charlestown Navy Yard)	Greater Boston	—		—		6,247		8,706		—		14,953		14,953		(5,661		)	9,292		2012	1998
5 Necco Street	Greater Boston	—		41,958		41,546		582		41,958		42,128		84,086		(250		)	83,836		2019	2019
10 Necco Street	Greater Boston	—		67,743		13,357		4,202		67,743		17,559		85,302		(255		)	85,047		N/A	2019
15 Necco Street	Greater Boston	—		—		—		172,114		—		172,114		172,114		—			172,114		N/A	2019
99 A Street	Greater Boston	—		31,671		878		9,306		31,671		10,184		41,855		(938		)	40,917		1968	2018
Alexandria Park at 128	Greater Boston	—		10,439		41,596		79,501		10,439		121,097		131,536		(44,353		)	87,183		1997 - 2010	1998 - 2008
225, 266, and 275 Second Avenue	Greater Boston	—		17,086		69,994		60,552		17,086		130,546		147,632		(19,074		)	128,558		2014 - 2018	2014 - 2017
100 Tech Drive	Greater Boston	—		11,977		85,620		235		11,977		85,855		97,832		(4,765		)	93,067		2015	2018
19 Presidential Way	Greater Boston	—		12,833		27,333		23,133		12,833		50,466		63,299		(17,114		)	46,185		1999	2005
100 Beaver Street	Greater Boston	—		1,466		9,046		22,201		1,466		31,247		32,713		(7,129		)	25,584		2006	2005
285 Bear Hill Road	Greater Boston	—		422		3,538		6,905		422		10,443		10,865		(2,417		)	8,448		2013	2011
111 and 130 Forbes Boulevard	Greater Boston	—		3,146		15,725		3,165		3,146		18,890		22,036		(6,284		)	15,752		2006	2006 - 2007
20 Walkup Drive	Greater Boston	—		2,261		7,099		9,029		2,261		16,128		18,389		(3,833		)	14,556		2012	2006
30 Bearfoot Road	Greater Boston	—		1,220		22,375		59		1,220		22,434		23,654		(21,533		)	2,121		2000	2005
Alexandria Center® for Science and Technology – Mission Bay	San Francisco	—		211,450		210,211		442,961		211,450		653,172		864,622		(145,182		)	719,440		2007 - 2014	2004 - 2017
510 Townsend Street	San Francisco	—		52,105		—		174,287		52,105		174,287		226,392		(12,754		)	213,638		2017	2014
945 Market Street	San Francisco	—		99,294		86,360		5,770		99,294		92,130		191,424		—			191,424		2016	2019
505 Brannan Street	San Francisco	—		31,710		2,540		107,671		31,710		110,211		141,921		(6,726		)	135,195		2017	2015
260 Townsend Street	San Francisco	27,561		26,392		33,921		471		26,392		34,392		60,784		(714		)	60,070		2017	2019
88 Bluxome Street	San Francisco	—		148,551		21,514		52,292		148,551		73,806		222,357		(7,951		)	214,406		N/A	2017
213, 249, 259, 269, and 279 East Grand Avenue	San Francisco	—		59,199		—		542,156		59,199		542,156		601,355		(47,537		)	553,818		2008 - 2019	2004

			Initial Costs		Costs Capitalized Subsequent to Acquisitions	Total Costs
Property	Market	Encumbrances	Land	Buildings & Improvements	Buildings & Improvements	Land	Buildings & Improvements	Total(1)	Accumulated Depreciation(2)		Net Cost Basis	Date of Construction(3)	Date Acquired
Alexandria Technology Center® – Gateway	San Francisco	—	71,005	168,894	101,122	71,005	270,016	341,021	(65,979	)	275,042	1998 - 2019	2002 - 2017
201 Haskins Way	San Francisco	—	32,245	1,287	118,801	32,245	120,088	152,333	(1,445	)	150,888	N/A	2017
400 and 450 East Jamie Court	San Francisco	—	—	—	117,282	—	117,282	117,282	(47,091	)	70,191	2012	2002
500 Forbes Boulevard	San Francisco	—	35,596	69,091	17,503	35,596	86,594	122,190	(27,166	)	95,024	2001	2007
7000 Shoreline Court	San Francisco	—	7,038	39,704	19,454	7,038	59,158	66,196	(19,317	)	46,879	2001	2004
341 and 343 Oyster Point Boulevard	San Francisco	—	7,038	—	43,433	7,038	43,433	50,471	(17,640	)	32,831	2009 - 2013	2000
849/863 Mitten Road/866 Malcolm Road	San Francisco	—	3,211	8,665	24,070	3,211	32,735	35,946	(13,318	)	22,628	2012	1998
Alexandria District for Science and Technology	San Francisco	—	87,566	—	190,881	87,566	190,881	278,447	—		278,447	N/A	2017
3825 and 3875 Fabian Way	San Francisco	—	194,424	54,519	872	194,424	55,391	249,815	(119	)	249,696	1969 - 2014	2019
Alexandria Stanford Life Science District	San Francisco	—	—	152,437	5,536	—	157,973	157,973	(11,248	)	146,725	1998 - 2017	2003 - 2019
Alexandria PARC	San Francisco	—	72,859	53,309	16,637	72,859	69,946	142,805	(3,265	)	139,540	1984 - 2019	2018
960 Industrial Road	San Francisco	—	79,969	5,558	19,589	79,969	25,147	105,116	(4,852	)	100,264	N/A	2017
2425 Garcia Avenue & 2400/2450 Bayshore Parkway	San Francisco	728	1,512	21,323	26,261	1,512	47,584	49,096	(22,637	)	26,459	2008	1999
Shoreway Science Center	San Francisco	—	20,049	48,554	152	20,049	48,706	68,755	(1,262	)	67,493	2016	2019
1450 Page Mill Road	San Francisco	—	—	84,467	104	—	84,571	84,571	(5,590	)	78,981	2017	2017
3350 West Bayshore Road	San Francisco	—	4,800	6,693	20,325	4,800	27,018	31,818	(5,726	)	26,092	1982	2005
2625/2627/2631 Hanover Street	San Francisco	—	—	6,628	11,910	—	18,538	18,538	(10,424	)	8,114	2000	1999
Alexandria Center® for Life Science	New York City	—	—	—	848,102	—	848,102	848,102	(170,156	)	677,946	2010 - 2016	2006
219 East 42nd Street	New York City	—	141,266	63,312	2,149	141,266	65,461	206,727	(13,573	)	193,154	1995	2018
47-50 30th Street	New York City	—	25,000	—	2,120	25,000	2,120	27,120	—		27,120	1942	2019
Alexandria Center® – Long Island City	New York City	—	22,746	53,093	13,283	22,746	66,376	89,122	(369	)	88,753	N/A	2018
ARE Spectrum	San Diego	—	32,361	80,957	203,705	32,361	284,662	317,023	(55,306	)	261,717	2008 - 2017	2007 - 2017
ARE Torrey Ridge	San Diego	—	22,124	152,840	52,470	22,124	205,310	227,434	(32,702	)	194,732	2003 - 2004	2016
ARE Sunrise	San Diego	—	6,118	17,947	82,874	6,118	100,821	106,939	(51,853	)	55,086	2000 - 2015	1994 - 2004
ARE Nautilus	San Diego	—	6,684	27,600	123,685	6,684	151,285	157,969	(44,910	)	113,059	2009 - 2012	1994 - 1997
3545 Cray Court	San Diego	31,477	7,056	53,944	11,537	7,056	65,481	72,537	(40,636	)	31,901	1998	2014
11119 North Torrey Pines Road	San Diego	—	9,994	37,099	34,147	9,994	71,246	81,240	(20,799	)	60,441	2012	2007
Campus Pointe by Alexandria	San Diego	—	88,016	393,713	441,342	88,016	835,055	923,071	(110,603	)	812,468	1988 - 2019	2010 - 2019
5200 Illumina Way	San Diego	—	38,340	96,606	195,156	38,340	291,762	330,102	(49,000	)	281,102	2004 - 2017	2010
University District	San Diego	—	18,221	48,840	203,245	18,221	252,085	270,306	(82,398	)	187,908	1989 - 2018	1998 - 2014
SD Tech by Alexandria	San Diego	—	54,648	169,485	4,835	54,648	174,320	228,968	(563	)	228,405	2014	2019
Summers Ridge Science Park	San Diego	—	21,154	102,046	3,491	21,154	105,537	126,691	(5,277	)	121,414	2005	2018
10121 and 10151 Barnes Canyon Road	San Diego	—	4,608	5,100	19,110	4,608	24,210	28,818	(4,103	)	24,715	1988 - 2014	2013

			Initial Costs		Costs Capitalized Subsequent to Acquisitions		Total Costs
Property	Market	Encumbrances	Land	Buildings & Improvements	Buildings & Improvements		Land	Buildings & Improvements	Total(1)	Accumulated Depreciation(2)		Net Cost Basis	Date of Construction(3)	Date Acquired
ARE Portola	San Diego	—	6,991	25,153	39,893		6,991	65,046	72,037	(12,389	)	59,648	2005 - 2012	2007
5810/5820 Nancy Ridge Drive	San Diego	—	5,476	28,682	(52	)	5,476	28,630	34,106	(10,137	)	23,969	2000 - 2001	2003 - 2004
7330 Carroll Road	San Diego	—	2,650	19,878	1,912		2,650	21,790	24,440	(5,860	)	18,580	2007	2010
5871 Oberlin Drive	San Diego	—	1,349	8,016	6,019		1,349	14,035	15,384	(2,232	)	13,152	2004	2010
Vista Wateridge I & II	San Diego	—	3,286	—	735		3,286	735	4,021	—		4,021	N/A	2017
3911, 3931, 3985, 4025, 4031, 4045, and 4075 Sorrento Valley Boulevard	San Diego	—	18,177	35,178	31,920		18,177	67,098	85,275	(24,580	)	60,695	2007 - 2015	2010 - 2019
11025, 11035, 11045, 11055, 11065, and 11075 Roselle Street	San Diego	—	4,156	11,571	42,744		4,156	54,315	58,471	(12,252	)	46,219	2006 - 2014	1997 - 2014
13112 Evening Creek Drive	San Diego	—	7,393	27,950	232		7,393	28,182	35,575	(13,055	)	22,520	2007	2007
Townsgate by Alexandria	San Diego	—	16,416	—	3,620		16,416	3,620	20,036	—		20,036	N/A	2018
The Eastlake Life Science Campus by Alexandria - North Campus	Seattle	—	24,205	35,296	391,761		24,205	427,057	451,262	(85,863	)	365,399	2007 - 2019	2003 - 2015
The Eastlake Life Science Campus by Alexandria - South Campus	Seattle	—	22,987	47,149	100,758		22,987	147,907	170,894	(45,301	)	125,593	1997	2002 - 2008
400 Dexter Avenue North	Seattle	—	11,342	—	211,045		11,342	211,045	222,387	(20,303	)	202,084	2017	2007
2301 5th Avenue	Seattle	—	6,543	76,180	1,130		6,543	77,310	83,853	(2,980	)	80,873	2002	2018
219 Terry Avenue North	Seattle	—	1,819	2,302	19,892		1,819	22,194	24,013	(7,143	)	16,870	2012	2007
601 Dexter Avenue North	Seattle	—	29,412	408	1,541		29,412	1,949	31,361	—		31,361	1985	2019
701 Dexter Avenue North	Seattle	—	35,316	719	6,149		35,316	6,868	42,184	(340	)	41,844	1984	2018
3000/3018 Western Avenue	Seattle	—	1,432	7,497	24,181		1,432	31,678	33,110	(16,287	)	16,823	2000	1998
410 West Harrison/410 Elliott Avenue West	Seattle	—	3,857	1,989	11,266		3,857	13,255	17,112	(5,707	)	11,405	2006 - 2008	2004
9800, 9900, 9920 and 9950 Medical Center Drive	Maryland	—	20,219	112,543	180,483		20,219	293,026	313,245	(76,214	)	237,031	1985 - 2018	2004 - 2017
9704, 9708, 9712, and 9714 Medical Center Drive	Maryland	—	10,258	74,173	766		10,258	74,939	85,197	(3,229	)	81,968	2015	2018
1330 Piccard Drive	Maryland	—	2,800	11,533	34,933		2,800	46,466	49,266	(18,830	)	30,436	2005	1997
1500 and 1550 East Gude Drive	Maryland	—	1,523	7,731	6,445		1,523	14,176	15,699	(8,979	)	6,720	1995 - 2003	1997
14920 and 15010 Broschart Road	Maryland	—	4,904	15,846	5,471		4,904	21,317	26,221	(5,979	)	20,242	1998 - 1999	2004 - 2010
1405 Research Boulevard	Maryland	—	899	21,946	14,363		899	36,309	37,208	(14,621	)	22,587	2006	1997
5 Research Place	Maryland	—	1,466	5,708	28,981		1,466	34,689	36,155	(14,768	)	21,387	2010	2001
5 Research Court	Maryland	—	1,647	13,258	24,060		1,647	37,318	38,965	(14,379	)	24,586	2007	2004
9920 Belward Campus Drive	Maryland	—	2,732	12,308	76		2,732	12,384	15,116	(527	)	14,589	2007	2018
12301 Parklawn Drive	Maryland	—	1,476	7,267	1,184		1,476	8,451	9,927	(2,949	)	6,978	2007	2004
14200 Shady Grove Road	Maryland	—	25,000	—	903		25,000	903	25,903	—		25,903	N/A	2019
Alexandria Technology Center® – Gaithersburg I	Maryland	—	20,980	121,952	39,799		20,980	161,751	182,731	(36,204	)	146,527	1992 - 2019	1997 - 2019
Alexandria Technology Center® – Gaithersburg II	Maryland	—	6,938	34,685	33,085		6,938	67,770	74,708	(27,742	)	46,966	2000 - 2015	1997 - 2018

				Initial Costs				Costs Capitalized Subsequent to Acquisitions		Total Costs
Property	Market	Encumbrances		Land		Buildings & Improvements		Buildings & Improvements		Land		Buildings & Improvements		Total(1)		Accumulated Depreciation(2)			Net Cost Basis		Date of Construction(3)	Date Acquired
401 Professional Drive	Maryland	—		1,129		6,941		10,125		1,129		17,066		18,195		(7,192		)	11,003		2007	1996
950 Wind River Lane	Maryland	—		2,400		10,620		1,050		2,400		11,670		14,070		(3,348		)	10,722		2009	2010
620 Professional Drive	Maryland	—		784		4,705		7,353		784		12,058		12,842		(5,490		)	7,352		2012	2005
8000/9000/10000 Virginia Manor Road	Maryland	—		—		13,679		7,189		—		20,868		20,868		(10,460		)	10,408		2003	1998
14225 Newbrook Drive	Maryland	—		4,800		27,639		11,562		4,800		39,201		44,001		(17,364		)	26,637		2006	1997
Alexandria Technology Center® – Alston	Research Triangle	—		1,430		17,482		31,096		1,430		48,578		50,008		(23,693		)	26,315		1985 - 2009	1998
Alexandria Center® for AgTech, Phase I – Research Triangle	Research Triangle	—		2,000		6,756		69,863		2,000		76,619		78,619		(1,562		)	77,057		2018	2017
Alexandria Center® for AgTech, Phase II – Research Triangle	Research Triangle	—		800		—		9,663		800		9,663		10,463		—			10,463		N/A	2018
108/110/112/114 TW Alexander Drive	Research Triangle	—		—		376		43,195		—		43,571		43,571		(19,650		)	23,921		2000	1999
Alexandria Innovation Center® – Research Triangle	Research Triangle	—		1,065		21,218		30,249		1,065		51,467		52,532		(18,709		)	33,823		2005 - 2008	2000
6 Davis Drive	Research Triangle	—		9,029		10,712		20,318		9,029		31,030		40,059		(12,914		)	27,145		2012	2012
7 Triangle Drive	Research Triangle	—		701		—		32,502		701		32,502		33,203		(7,289		)	25,914		2011	2005
2525 East NC Highway 54	Research Triangle	—		713		12,827		20,751		713		33,578		34,291		(9,480		)	24,811		1995	2004
407 Davis Drive	Research Triangle	—		1,229		17,733		712		1,229		18,445		19,674		(3,449		)	16,225		1998	2013
601 Keystone Park Drive	Research Triangle	—		785		11,546		7,103		785		18,649		19,434		(6,034		)	13,400		2009	2006
6040 George Watts Hill Drive	Research Triangle	—		—		—		26,344		—		26,344		26,344		(3,127		)	23,217		2015	2014
5 Triangle Drive	Research Triangle	—		161		3,409		7,933		161		11,342		11,503		(5,248		)	6,255		1981	1998
6101 Quadrangle Drive	Research Triangle	—		951		3,982		11,146		951		15,128		16,079		(3,281		)	12,798		2012	2008
Canada	Canada	—		10,350		43,884		15,208		10,350		59,092		69,442		(22,245		)	47,197		2004 - 2012	2005 - 2007
Various	Various	—		64,176		115,107		217,354		64,176		332,461		396,637		(58,994		)	337,643		Various	Various
Total – North America		349,352		3,173,913		5,681,985		8,662,711		3,173,913		14,344,696		17,518,609		(2,704,657		)	14,813,952
Asia		—		—		—		34,347		—		34,347		34,347		(4,261		)	30,086		2015	2008
		$	349,352	$	3,173,913	$	5,681,985	$	8,697,058	$	3,173,913	$	14,379,043	$	17,552,956	$	(2,708,918	)	$	14,844,038

Alexandria Real Estate Equities, Inc.

Consolidated Financial Statement Schedule of Rental Properties and Accumulated Depreciation

December 31, 2019

(Dollars in thousands)

(1) The aggregate cost of real estate for federal income tax purposes is not materially different from the cost basis under GAAP (unaudited).

(2) The depreciable life ranges up to 40 years for buildings and improvements, up to 20 years for land improvements, and the term of the respective lease for tenant improvements.

(3) Represents the later of the date of original construction or the date of the latest renovation.

Alexandria Real Estate Equities, Inc.

Consolidated Financial Statement Schedule of Real Estate and Accumulated Depreciation

December 31, 2019

(In thousands)

A summary of activity of consolidated investments in real estate and accumulated depreciation is as follows:

	December 31,
Real Estate	2019			2018			2017
Balance at beginning of period	$	14,181,780		$	12,178,255		$	10,632,518
Acquisitions (including real estate, land, and joint venture consolidation)	2,240,376			1,057,036			707,522
Additions to real estate	1,143,035			959,410			881,463
Deductions (including dispositions and direct financing leases)	(12,235		)	(12,921		)	(43,248		)
Balance at end of period	$	17,552,956		$	14,181,780		$	12,178,255
	December 31,
Accumulated Depreciation	2019			2018			2017
Balance at beginning of period	$	2,268,087		$	1,880,236		$	1,554,546
Depreciation expense on properties	448,661			390,471			348,064
Sale of properties	(7,830		)	(2,620		)	(22,374		)
Balance at end of period	$	2,708,918		$	2,268,087		$	1,880,236