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Alexandria Real Estate Equities (NYSE:ARE) is currently embroiled in an investor lawsuit alleging misrepresentation of property metrics in Long Island City. Simultaneously, the REIT is undertaking a significant debt refinancing initiative, including upsizing a tender offer for existing notes. The company has also issued new $750 million senior notes at 5.25% due 2036. These new notes primarily aim to replace short-term commercial paper, seeking to optimize its debt structure. These financial maneuvers and legal challenges follow a substantial decline in ARE's share price. The dual pressures highlight ongoing complexities for the company amidst market scrutiny and balance sheet management.
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