Alexandria Real Estate Equities (ARE), a top-performing S&P 500 REIT, is the leader in owning, operating, and developing life science, technology, and agtech campuses in the top urban innovation clusters in North America.
The ARE portfolio consists of many iconic, modern, and high-value assets that are not adequately represented in a traditional spreadsheet-based insurance statement of values (SOV). For example, many of its earthquake-exposed properties have been designed and constructed not only to modern building codes, but also with special structural seismic detailing. The properties reflect the latest technologies and best practices to ensure the resiliency of the properties given consistent with the occupancies and expectations of ARE’s top-tier tenants.
In addition, ARE commissions 3rd-party Property Condition Assessments (PCA) for its acquisitions in California and the Pacific Northwest that include reviews by licensed structural engineers specializing in earthquake-resistant design. And, as a major developer of many of its campuses, ARE also has extensive internal expertise on construction costs and forecasting which are used to update its replacement values annually.
These differentiations - in the resiliency of its structures to earthquake and climate hazards, the rigor of its risk management and property maintenance practices, and the quality of its data - could not be adequately represented in a traditional SOV. On Archipelago, ARE is not only able to source and extract a richer set of data about its properties, but it is also able to securely share these data-driven insights via the platform and do so in a way its insurers can readily use and credit, including with the evidence links that engender trust.