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

12 Months Ended

Dec. 31, 2021

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, 2021

(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	$	—	$	511,875	$	822,706	$	1,470,329	$	511,875	$	2,293,035	$	2,804,910	$	(362,489)	$	2,442,421	1995 - 2017	2005 - 2021
Alexandria Center® at One Kendall Square	Greater Boston	196,529		349,952		483,816		509,540		349,952		993,356		1,343,308		(143,728)		1,199,580		1985 - 2019	2016 - 2017
Alexandria Technology Square®	Greater Boston	—		—		619,658		277,958		—		897,616		897,616		(306,522)		591,094		2001 - 2012	2006
The Arsenal on the Charles	Greater Boston	—		191,797		354,611		221,488		191,797		576,099		767,896		(16,705)		751,191		2000 - 2021	2019 - 2021
480 Arsenal Way and 500 and 550 Arsenal Street	Greater Boston	—		104,628		21,623		106,026		104,628		127,649		232,277		(48,239)		184,038		2001 - 2009	2000 - 2021
640 Memorial Drive	Greater Boston	—		—		174,878		1,390		—		176,268		176,268		(51,565)		124,703		2011	2015
780 and 790 Memorial Drive	Greater Boston	—		—		—		55,236		—		55,236		55,236		(27,307)		27,929		2002	2001
167 Sidney Street and 99 Erie Street	Greater Boston	—		—		12,613		13,909		—		26,522		26,522		(8,783)		17,739		2006 - 2012	2005 - 2006
79/96 13th Street (Charlestown Navy Yard)	Greater Boston	—		—		6,247		8,762		—		15,009		15,009		(6,817)		8,192		2012	1998
Alexandria Center® for Life Science – Fenway	Greater Boston	—		912,016		617,552		164,634		912,016		782,186		1,694,202		(11,927)		1,682,275		2019	2021
380 and 420 E Street	Greater Boston	—		156,355		9,229		7,418		156,355		16,647		173,002		(1,556)		171,446		2013	2020
5, 10, and 15 Necco Street	Greater Boston	—		277,554		55,897		73,345		277,554		129,242		406,796		(3,442)		403,354		2019	2019
99 A Street	Greater Boston	—		31,671		878		15,480		31,671		16,358		48,029		(938)		47,091		1968	2018
One Upland Road, 100 Tech Drive, and One Investors Way	Greater Boston	—		67,329		301,000		3,541		67,329		304,541		371,870		(16,100)		355,770		1999 - 2015	2018 - 2021
Reservoir Woods	Greater Boston	—		88,840		214,038		11,440		88,840		225,478		314,318		(7,139)		307,179		2009 - 2010	2020
275 Grove Street	Greater Boston	—		70,476		150,159		14,052		70,476		164,211		234,687		(6,713)		227,974		2000	2020
Alexandria Park at 128	Greater Boston	—		10,439		41,596		82,097		10,439		123,693		134,132		(52,060)		82,072		1997 - 2010	1998 - 2008
225, 266, and 275 Second Avenue	Greater Boston	—		17,086		69,994		84,475		17,086		154,469		171,555		(34,655)		136,900		2014 - 2018	2014 - 2017
19 Presidential Way	Greater Boston	—		12,833		27,333		25,230		12,833		52,563		65,396		(23,044)		42,352		1999	2005
840 Winter Street	Greater Boston	—		12,470		44,395		23,290		12,470		67,685		80,155		(1,362)		78,793		1999	2021
100 Beaver Street	Greater Boston	—		1,466		9,046		26,736		1,466		35,782		37,248		(10,453)		26,795		2006	2005
285 Bear Hill Road	Greater Boston	—		422		3,538		7,094		422		10,632		11,054		(2,926)		8,128		2013	2011
111 and 130 Forbes Boulevard	Greater Boston	—		3,146		15,725		4,574		3,146		20,299		23,445		(7,296)		16,149		2006	2006 - 2007
20 Walkup Drive	Greater Boston	—		2,261		7,099		9,029		2,261		16,128		18,389		(4,710)		13,679		2012	2006
Other	Greater Boston	7,991		92,156		137,831		46,099		92,156		183,930		276,086		(144)		275,942		Various	Various
Alexandria Center® for Science and Technology – Mission Bay	San Francisco	—		211,450		210,211		493,396		211,450		703,607		915,057		(184,410)		730,647		2007 - 2014	2004 - 2017
Alexandria Technology Center® – Gateway	San Francisco	$	—	$	193,004	$	364,078	$	303,215	$	193,004	$	667,293	$	860,297	$	(106,956)	$	753,341	1984 - 2021	2002 - 2020

				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
213, 249, 259, 269, and 279 East Grand Avenue	San Francisco	$	—	$	59,199	$	—	$	545,037	$	59,199	$	545,037	$	604,236	$	(91,206)	$	513,030	2008 - 2019	2004
Alexandria Center® for Life Science – South San Francisco	San Francisco	—		32,245		1,287		458,833		32,245		460,120		492,365		(71,668)		420,697		2012	2002 - 2017
1122 and 1178 El Camino Real	San Francisco	—		231,707		5,224		4,370		231,707		9,594		241,301		(3)		241,298		1971 - 1972	2021
500 Forbes Boulevard	San Francisco	—		35,596		69,091		17,503		35,596		86,594		122,190		(31,522)		90,668		2001	2007
7000 Shoreline Court	San Francisco	—		7,038		39,704		27,993		7,038		67,697		74,735		(24,327)		50,408		2001	2004
341 and 343 Oyster Point Boulevard	San Francisco	—		7,038		—		44,189		7,038		44,189		51,227		(21,280)		29,947		2009 - 2013	2000
849/863 Mitten Road/866 Malcolm Road	San Francisco	—		3,211		8,665		30,162		3,211		38,827		42,038		(15,731)		26,307		2012	1998
Alexandria Center® for Life Science – San Carlos	San Francisco	—		433,634		28,323		601,498		433,634		629,821		1,063,455		(15,576)		1,047,879		1970 - 2021	2017 - 2021
3825 and 3875 Fabian Way	San Francisco	—		194,424		54,519		3,007		194,424		57,526		251,950		(6,175)		245,775		1969 - 2014	2019
Alexandria Stanford Life Science District	San Francisco	—		—		260,931		79,029		—		339,960		339,960		(22,084)		317,876		1998 - 2019	2003 - 2020
3330, 3412, 3420, 3440, 3450, and 3460 Hillview Avenue	San Francisco	—		—		332,257		9,730		—		341,987		341,987		(7,873)		334,114		1978 - 2018	2020 - 2021
Alexandria PARC	San Francisco	—		72,859		53,309		28,972		72,859		82,281		155,140		(9,575)		145,565		1984 - 2019	2018
2475 and 2625/2627/2631 Hanover Street	San Francisco	—		—		103,005		12,661		—		115,666		115,666		(13,257)		102,409		2000 - 2003	1999 - 2021
2425 Garcia Avenue/2400/2450 Bayshore Parkway	San Francisco	678		1,512		21,323		26,261		1,512		47,584		49,096		(25,242)		23,854		2008	1999
Shoreway Science Center	San Francisco	—		20,049		48,554		252		20,049		48,806		68,855		(3,828)		65,027		2016	2019
1450 Page Mill Road	San Francisco	—		—		84,467		110		—		84,577		84,577		(9,908)		74,669		2017	2017
3350 West Bayshore Road	San Francisco	—		4,800		6,693		38,494		4,800		45,187		49,987		(7,956)		42,031		1982	2005
901 California Avenue	San Francisco	—		—		—		3,797		—		3,797		3,797		—		3,797		N/A	2021
88 Bluxome Street	San Francisco	—		148,551		21,514		153,615		148,551		175,129		323,680		(23,098)		300,582		N/A	2017
Other	San Francisco	—		32,111		8,345		85,104		32,111		93,449		125,560		(5,989)		119,571		Various	Various
Alexandria Center® for Life Science – New York City	New York City	—		—		—		1,007,571		—		1,007,571		1,007,571		(229,709)		777,862		2010 - 2016	2006
219 East 42nd Street	New York City	—		141,266		63,312		3,363		141,266		66,675		207,941		(31,730)		176,211		1995	2018
Alexandria Center® for Life Science – Long Island City	New York City	—		47,746		53,093		112,855		47,746		165,948		213,694		(2,213)		211,481		1926 - 1942	2018 - 2019
One Alexandria Square	San Diego	—		247,423		192,755		500,972		247,423		693,727		941,150		(207,633)		733,517		1980 - 2021	1994 - 2021
ARE Torrey Ridge	San Diego	—		22,124		152,840		83,741		22,124		236,581		258,705		(52,130)		206,575		2004 - 2021	2016
ARE Nautilus	San Diego	—		6,684		27,600		124,705		6,684		152,305		158,989		(61,040)		97,949		2009 - 2012	1994 - 1997
Alexandria Point	San Diego	—		88,016		393,713		482,841		88,016		876,554		964,570		(159,767)		804,803		1988 - 2019	2010 - 2019
5200 Illumina Way	San Diego	—		38,340		96,606		196,915		38,340		293,521		331,861		(65,439)		266,422		2004 - 2017	2010
University District	San Diego	—		61,753		49,692		219,059		61,753		268,751		330,504		(104,500)		226,004		1989 - 2018	1998 - 2020
SD Tech by Alexandria	San Diego	$	—	$	81,428	$	254,069	$	192,032	$	81,428	$	446,101	$	527,529	$	(17,119)	$	510,410	1988 - 2015	2013 - 2020

				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
Sequence District by Alexandria	San Diego	$	—	$	163,610	$	281,389	$	9,270	$	163,610	$	290,659	$	454,269	$	(4,941)	$	449,328	1997 - 2000	2020 - 2021
Pacific Technology Park	San Diego	—		96,796		66,660		22,112		96,796		88,772		185,568		(1,205)		184,363		1989 - 1991	2021
Summers Ridge Science Park	San Diego	—		21,154		102,046		3,685		21,154		105,731		126,885		(11,016)		115,869		2005	2018
ARE Portola	San Diego	—		6,991		25,153		40,038		6,991		65,191		72,182		(18,338)		53,844		2005 - 2012	2007
7330 and 7360 Carroll Road	San Diego	—		4,674		24,012		2,125		4,674		26,137		30,811		(9,978)		20,833		1983 - 2007	2010 - 2021
5810/5820 Nancy Ridge Drive	San Diego	—		3,492		18,285		32,750		3,492		51,035		54,527		(11,990)		42,537		2021	2004
9877 Waples Street	San Diego	—		5,092		11,908		12,080		5,092		23,988		29,080		(1,180)		27,900		2020	2020
5871 Oberlin Drive	San Diego	—		1,349		8,016		20,320		1,349		28,336		29,685		(3,103)		26,582		2021	2010
3911, 3931, 3985, 4025, 4031, 4045, and 4075 Sorrento Valley Boulevard	San Diego	—		18,177		42,723		28,584		18,177		71,307		89,484		(37,143)		52,341		2007 - 2015	2010 - 2019
11025, 11035, 11045, 11055, 11065, and 11075 Roselle Street	San Diego	—		4,156		11,571		46,247		4,156		57,818		61,974		(16,879)		45,095		2006 - 2014	1997 - 2014
Other	San Diego	—		117,866		155,803		79,722		117,866		235,525		353,391		(28,341)		325,050		Various	Various
The Eastlake Life Science Campus by Alexandria	Seattle	—		51,750		83,012		707,183		51,750		790,195		841,945		(175,538)		666,407		1997 - 2021	2002 - 2020
Alexandria Center® at South Lake Union	Seattle	—		76,070		1,128		288,917		76,070		290,045		366,115		(38,986)		327,129		1984 - 2017	2007 - 2019
219 Terry Avenue North	Seattle	—		1,819		2,302		20,166		1,819		22,468		24,287		(8,686)		15,601		2012	2007
830 4th Avenue South	Seattle	—		6,500		12,062		1,656		6,500		13,718		20,218		(358)		19,860		1995	2020
3000/3018 Western Avenue	Seattle	—		1,432		7,497		24,583		1,432		32,080		33,512		(22,314)		11,198		2000	1998
410 West Harrison Street and 410 Elliott Avenue West	Seattle	—		3,857		1,989		17,559		3,857		19,548		23,405		(6,765)		16,640		2006 - 2008	2004
1010 4th Avenue	Seattle	—		46,200		—		5,195		46,200		5,195		51,395		—		51,395		N/A	2020
Other	Seattle	—		245,754		224,600		18,153		245,754		242,753		488,507		(4,120)		484,387		Various	Various
Alexandria Center® for Life Science – Shady Grove	Maryland	—		88,157		261,626		311,686		88,157		573,312		661,469		(113,427)		548,042		1985 - 2021	2004 - 2021
1330 Piccard Drive	Maryland	—		2,800		11,533		36,302		2,800		47,835		50,635		(22,015)		28,620		2005	1997
1405 and 1450 Research Boulevard	Maryland	—		2,788		24,507		10,988		2,788		35,495		38,283		(17,324)		20,959		1980 - 2006	1997 - 2021
1500 and 1550 East Gude Drive	Maryland	—		1,523		7,731		10,485		1,523		18,216		19,739		(10,247)		9,492		1995 - 2003	1997
5 Research Place	Maryland	—		1,466		5,708		30,706		1,466		36,414		37,880		(17,079)		20,801		2010	2001
5 Research Court	Maryland	—		1,647		13,258		24,099		1,647		37,357		39,004		(16,591)		22,413		2007	2004
12301 Parklawn Drive	Maryland	—		1,476		7,267		1,697		1,476		8,964		10,440		(3,388)		7,052		2007	2004
Alexandria Technology Center® – Gaithersburg I	Maryland	—		20,980		121,952		49,525		20,980		171,477		192,457		(49,941)		142,516		1992 - 2019	1997 - 2019
Alexandria Technology Center® – Gaithersburg II	Maryland	—		17,134		67,825		101,016		17,134		168,841		185,975		(36,064)		149,911		2000 - 2021	1997 - 2020
20400 Century Boulevard	Maryland	—		3,641		4,759		7,817		3,641		12,576		16,217		—		16,217		2017	2021
401 Professional Drive	Maryland	—		1,129		6,941		11,130		1,129		18,071		19,200		(8,602)		10,598		2007	1996
950 Wind River Lane	Maryland	$	—	$	2,400	$	10,620	$	1,050	$	2,400	$	11,670	$	14,070	$	(3,919)	$	10,151	2009	2010

				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
620 Professional Drive	Maryland	$	—	$	784	$	4,705	$	8,235	$	784	$	12,940	$	13,724	$	(7,165)	$	6,559	2012	2005
8000/9000/10000 Virginia Manor Road	Maryland	—		—		13,679		10,238		—		23,917		23,917		(11,662)		12,255		2003	1998
14225 Newbrook Drive	Maryland	—		4,800		27,639		22,535		4,800		50,174		54,974		(19,918)		35,056		2006	1997
Alexandria Center® for Life Science – Durham	Research Triangle	—		90,686		471,263		128,949		90,686		600,212		690,898		(14,556)		676,342		1985 - 2021	2020 - 2021
Alexandria Center® for Advanced Technologies	Research Triangle	—		27,784		16,958		138,532		27,784		155,490		183,274		(14,375)		168,899		2007 - 2012	2012 - 2021
Alexandria Center® for AgTech	Research Triangle	—		2,801		6,756		180,881		2,801		187,637		190,438		(9,807)		180,631		2018	2017 - 2018
Alexandria Technology Center® – Alston	Research Triangle	—		1,430		17,482		32,662		1,430		50,144		51,574		(26,489)		25,085		1985 - 2009	1998
108/110/112/114 TW Alexander Drive	Research Triangle	—		—		376		44,943		—		45,319		45,319		(22,969)		22,350		2000	1999
Alexandria Innovation Center® – Research Triangle	Research Triangle	—		1,065		21,218		30,583		1,065		51,801		52,866		(22,564)		30,302		2005 - 2008	2000
7 Triangle Drive	Research Triangle	—		701		—		32,612		701		32,612		33,313		(9,084)		24,229		2011	2005
2525 East NC Highway 54	Research Triangle	—		713		12,827		20,700		713		33,527		34,240		(13,280)		20,960		1995	2004
407 Davis Drive	Research Triangle	—		1,229		17,733		1,028		1,229		18,761		19,990		(4,609)		15,381		1998	2013
601 Keystone Park Drive	Research Triangle	—		785		11,546		7,314		785		18,860		19,645		(7,211)		12,434		2009	2006
6040 George Watts Hill Drive	Research Triangle	—		—		—		27,900		—		27,900		27,900		(4,725)		23,175		2015	2014
5 Triangle Drive	Research Triangle	—		161		3,409		12,678		161		16,087		16,248		(7,230)		9,018		1981	1998
6101 Quadrangle Drive	Research Triangle	—		951		3,982		11,419		951		15,401		16,352		(4,161)		12,191		2012	2008
Alexandria Center® for NextGen Medicines	Research Triangle	—		94,184		—		1,872		94,184		1,872		96,056		—		96,056		N/A	2021
Canada	Canada	—		22,801		99,693		15,410		22,801		115,103		137,904		(29,408)		108,496		1998 - 2020	2005 - 2021
Various	Various	—		200,590		265,065		237,136		200,590		502,201		702,791		(52,503)		650,288		Various	Various
Total – North America		205,198		6,811,325		9,824,856		12,096,927		6,811,325		21,921,783		28,733,108		(3,766,758)		24,966,350
Asia		—		—		—		18,802		—		18,802		18,802		(4,483)		14,319		2015	2008
		$	205,198	$	6,811,325	$	9,824,856	$	12,115,729	$	6,811,325	$	21,940,585	$	28,751,910	$	(3,771,241)	$	24,980,669

Alexandria Real Estate Equities, Inc.

Consolidated Financial Statement Schedule of Rental Properties and Accumulated Depreciation

December 31, 2021

(Dollars in thousands)

(1)As of December 31, 2021, the total cost of our real estate assets aggregated $28.8 billion, which was less than the cost of real estate for federal income tax purposes aggregating $29.3 billion by approximately $578.4 million.

(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, 2021

(In thousands)

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

	December 31,
Real Estate	2021		2020		2019
Balance at beginning of period	$	21,274,810	$	17,552,956	$	14,181,780
Acquisitions (including real estate, land, and joint venture consolidation)	5,405,569		2,825,537		2,240,376
Additions to real estate	2,267,848		1,505,152		1,143,035
Deductions (including dispositions and direct financing leases)	(196,317)		(608,835)		(12,235)
Balance at end of period	$	28,751,910	$	21,274,810	$	17,552,956
	December 31,
Accumulated Depreciation	2021		2020		2019
Balance at beginning of period	$	3,182,438	$	2,708,918	$	2,268,087
Depreciation expense on properties	607,927		530,226		448,661
Sale of properties	(19,124)		(56,706)		(7,830)
Balance at end of period	$	3,771,241	$	3,182,438	$	2,708,918