Alexandria repurchases $125.7 million total 3.7% convertible notes

By Melissa Kory

Cleveland, Feb. 3 - Alexandria Real Estate Equities Inc. said it repurchased about $82.8 million of its 3.7% convertible notes for $84.6 million in cash during the fourth quarter of 2010 and an additional $42.9 million of the convertibles for $44.1 million in January.

Alexandria recognized a loss on early extinguishment of debt of $2.4 million from the privately negotiated transaction in the fourth quarter and a loss on early extinguishment of debt of $1.2 million from the repurchase in January.

As of Feb. 2, $259.1 million of the convertibles was outstanding.

Pasadena, Calif.-based Alexandria is a real estate investment trust that focuses on offices and laboratories that are leased to research entities and government agencies.

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