Life sciences real estate companies have wrestled with a new reality after a dismal 2025. The largest of them all, Alexandria Real Estate Equities, reported deep losses despite healthy leasing volume and set future expectations for continued challenges.
ARE notched a nearly $1.1B operating loss in the fourth quarter of 2025, executives said Tuesday in the company’s earnings call. Leasing reached 1.2M SF, the best performance all year, but other metrics fell, such as rental rates and lease renewals.
Same property net operating income dropped 6%, and was down 3.5% year-over-year. And the aggressive plan to sell roughly $3B in assets over…