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Alexandria Real Estate Equities, Inc. (NYSE:ARE ) Q1 2025 Earnings Conference Call April 29, 2025 3:00 PM ET Company Participants Paula Schwartz - Investor Relations Joel Marcus - Executive Chairman and Founder Hallie Kuhn - Senior Vice President, Science and Technology and Capital Markets Peter Moglia - Chief Executive Officer & Co-Chief Investment Officer Marc Binda - Chief Financial Officer and Treasurer Conference Call Participants Farrell Granath - BofA Securities Nick Joseph - Citigroup Inc. Anthony Paolone - JPMorgan Chase & Co Richard Anderson - Wedbush Securities Inc. Omotayo Okusanya - Deutsche Bank AG Vikram Malhotra - Mizuho Securities USA Michael Carroll - RBC Capital Markets Dylan Burzinski - Green Street Advisors Peter Abramowitz - Jefferies James Kammert - Evercore ISI Institutional Equities Operator Good day and welcome to the Alexandria Real Estate Equities First Quarter 2025 Conference Call. All participants will be in the listen-only mode.