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Alexandria Real Estate 4Q Strong

PASADENA, CA-Alexandria Real Estate Equities has reported a 13% increase in funds from operations fourth quarter 2001over the same period last year. The company says that it signed a total of 19 leases during the fourth quarter for approximately 145,000 sf of space.

By Peter Landau | Updated on February 11, 2002

PASADENA, CA-Alexandria Real Estate Equities has reported a 13% increase in funds from operations fourth quarter 2001 over the same period last year.

For the fourth quarter, Alexandria reported FFO of $15.4 million on total revenues of $33.6 million compared to FFO of $12.9 million on total revenues of $29.5 million for the fourth quarter of 2000. Comparing the fourth quarter of 2001 to the fourth quarter of 2000, total revenues increased 14%, FFO increased 19% and FFO per share (diluted) increased 13%.

The company says that it had signed a total of 19 leases during the fourth quarter for approximately 145,000 sf of space at 13 different properties. Of this total, approximately 90,000 sf was for previously vacant space at nine properties, which included leasing approximately 70,000 sf at six properties in the company’s redevelopment program.

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