Alexandria Real Estate Equities, Inc 8-K/A, filed Sep 28, 2022
Alexandria Real Estate Equities, Inc. (ARE)
8-K/A
2022-09-28
For: 2022-08-25
View Original
Added on
April 01, 2026
About this 8-K/A
Alexandria Real Estate Equities, Inc filed this 8-K/A on September 28, 2022, reporting on events of August 25, 2022.
Items reported
- Item 2.06: Material impairment
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
(Amendment No. 1)
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
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Item 2.06 Material Impairments
On August 31, 2022, Alexandria Real Estate Equities, Inc. (the “Company”) filed a Current Report on Form 8-K (the “Original 8-K”) related to impairments of certain assets of the Company in connection with the Company's decision to no longer proceed with a future development project aggregating over 600,000 RSF in one of the Company’s existing submarkets in California (the “Project”). At the time of filing the Original 8-K, the Company recognized an impairment charge of approximately $30 million, which represented the Company’s estimate of the impairment charge, including expected future cash expenditures related to the Project.
On September 22, 2022, the Company executed an agreement to settle disputes with the land owner that arose during September 2022. As consideration for the settlement, the Company agreed to make a payment of $10 million to the land owner, resulting in an updated total estimated impairment charge relating to the Project of $38 million.
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. | ||||||||
| September 28, 2022 | By: | /s/ Dean A. Shigenaga | ||||||
| Dean A. Shigenaga | ||||||||
| President and Chief Financial Officer | ||||||||