Alexandria Real Estate Equities, Inc 8-K, filed Aug 31, 2022
Alexandria Real Estate Equities, Inc. (ARE)
8-K
2022-08-31
For: 2022-08-25
View Original
Added on
April 01, 2026
About this 8-K
Alexandria Real Estate Equities, Inc filed this 8-K on August 31, 2022, reporting on events of August 25, 2022.
Items reported
- Item 2.06: Material impairment
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 25, 2022
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
(Address of principal executive offices) (Zip code)
Registrant’s telephone number, including area code: (626 ) 578-0777
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Exchange Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.06 Material Impairments
During the second quarter of 2021, Alexandria Real Estate Equities, Inc. (the “Company") made an initial investment in a future development project aggregating over 600,000 RSF in one of the Company’s existing submarkets in California (the “Project”).
Since the Company's initial investment, the macroeconomic environment has deteriorated and negatively impacted the financial outlook for this Project. On August 25, 2022, the Company concluded a real estate impairment charge of approximately $30 million was required under generally accepted accounting principles to write off its entire investment in the Project. In its decision to recognize an impairment charge, the Company considered the financial outlook for this Project, the recoverability of its investment, and its decision to no longer proceed with this Project. The Company does not expect additional future payments in connection with this Project.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit Number | Exhibit Title | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
Forward-Looking Statements
This current report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act, and Section 21E of the Exchange Act. These statements may include words such as “forecast,” “projects,” “estimates,” “anticipates,” “goals,” “believes,” “expects,” “intends,” “may,” “plans,” “seeks,” “should,” or “will,” or the negative of these words or similar words. Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in each such statement. A number of important factors could cause actual results to differ materially from those included within or contemplated by the forward-looking statements, including, but not limited to, the factors described in the Company’s filings with the Securities and Exchange Commission, including the Company’s most recent annual report on Form 10-K and any subsequent quarterly reports on Form 10-Q. The Company does not undertake any responsibility to update any of these factors or to announce publicly any revisions to any of the forward-looking statements contained in this or any other document, whether as a result of new information, future events, or otherwise.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ALEXANDRIA REAL ESTATE EQUITIES, INC. | ||||||||
| August 31, 2022 | By: | /s/ Dean A. Shigenaga | ||||||
| Dean A. Shigenaga | ||||||||
| President and Chief Financial Officer | ||||||||