Alexandria Real Estate Equities Inc, a real estate investment trust focused on collaborative life science and technology campuses in AAA innovation cluster locations, has named Marc E. Binda as treasurer. His appointment becomes effective April 23, 2018. Binda joined the firm in 2005.
PASADENA, Calif., April 10, 2018 /PRNewswire/ — Alexandria Real Estate Equities, Inc. (NYSE: ARE), an urban office REIT uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, today announced that it has appointed Marc E. Binda, senior vice president of finance, to the additional role of treasurer, effective April 23, 2018. Replacing Dean A. Shigenaga as treasurer, Mr. Binda will assume expanded responsibilities related to the corporate treasury function, including liquidity, financial planning, credit enhancement and risk management related to financial activities. He will continue to report to Mr. Shigenaga, Alexandria’s chief financial officer.
“We are pleased to recognize Marc’s valuable contributions to our strong operational and financial performance with his appointment to treasurer,” said Mr. Shigenaga. “He is a trusted member of the senior management team, and his diversified financial experience and deep knowledge of the REIT industry make him a tremendous asset to the company and our treasury strategies for managing risk and supporting our future growth.”
Mr. Binda joined Alexandria in 2005 and has served in a variety of positions of increasing responsibility within the finance and accounting functions. He is a certified public accountant with over 19 years of accounting, finance and commercial real estate experience. In his current role, Mr. Binda’s responsibilities include oversight of the company’s financial projections, capital planning, debt financing and other capital market transactions, as well as involvement in numerous accounting and financial reporting matters. During his tenure at Alexandria, he has played a key role in Alexandria’s disciplined allocation of capital and the prudent management of its balance sheet, which is in an excellent position of strength and flexibility.
Additionally, Mr. Binda is involved with the company’s rating agency relations and has been a key contributor to the significant enhancement in its credit profile, including S&P Global Ratings’ most recent improvement of Alexandria’s corporate credit rating to BBB with a positive outlook.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500® company, is an urban office REIT uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, with a total market capitalization of $17.9 billion and an asset base in North America of 29.6 million SF as of December 31, 2017. The asset base in North America includes 22.0 million RSF of operating properties, including 1.7 million RSF of development and redevelopment of new Class A properties currently undergoing construction. Additionally, the asset base in North America includes 7.6 million SF of future development projects, including 1.6 million SF of near-term projects undergoing marketing for lease and pre-construction activities and 3.8 million SF of intermediate-term development projects.
Founded in 1994, Alexandria pioneered this niche and has since established a significant market presence in key locations, including Greater Boston, San Francisco, New York City, San Diego, Seattle, Maryland and Research Triangle Park. Alexandria has a longstanding and proven track record of developing Class A properties clustered in urban life science and technology campuses that provide its innovative tenants with highly dynamic and collaborative environments that enhance their ability to successfully recruit and retain world-class talent and inspire productivity, efficiency, creativity and success. Alexandria also provides strategic risk capital to transformative life science and technology companies through its venture capital arm. We believe our unique business model and diligent underwriting ensure a high-quality and diverse tenant base that results in higher occupancy levels, longer lease terms, higher rental income, higher returns and greater long-term asset value. For additional information on Alexandria, please visit www.are.com.