Alexandria Real Estate Equities, Inc., in Partnership With Verily, Delivers OneFifteen Living, a Residential Housing Component of OneFifteen's One-of-a-Kind Campus Dedicated to Reversing the Trajectory of the Opioid Epidemic and Overcoming Addiction

Rhea-AI Summary

On September 18, 2020, Alexandria Real Estate Equities (NYSE: ARE) announced the delivery of OneFifteen Living, a residential facility in Dayton, Ohio, aimed at addressing the opioid crisis. This 26,304 square foot building will support recovery through residential treatment and family reunification. The facility complements OneFifteen's existing outpatient clinic and crisis stabilization unit. Alexandria's mission-driven approach is underscored by its collaboration with Verily, focusing on innovative addiction treatment and a holistic recovery ecosystem.

Positive

• Delivery of OneFifteen Living enhances existing treatment facilities.
• The project is a strategic response to the opioid epidemic, addressing rising overdose deaths.
• Collaboration with Verily to improve treatment through a learning health system.

Negative

• The opioid crisis continues to escalate, with overdose deaths increasing dramatically.
• COVID-19 has intensified addiction issues and overdose rates.

PASADENA, Calif., Sept. 18, 2020 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), an urban office REIT and the first, longest-tenured and pioneering owner, operator and developer uniquely focused on collaborative life science, technology and agtech campuses in AAA innovation cluster locations, in partnership with Verily, an Alphabet company, today celebrates the delivery of OneFifteen Living, the residential housing component of the OneFifteen campus in Dayton, Ohio. This critical physical element will enable and facilitate residential treatment and family reunification, both of which are crucial to the recovery process. Alexandria previously delivered OneFifteen's Outpatient Clinic and Crisis Stabilization Unit, which opened to patients in fall 2019 and winter 2020, respectively. The event will be streamed live on OneFifteen's website at 11:00 a.m. Eastern Time (ET) on Friday, September 18, and will feature a virtual tour of the innovative new residential facility. Highlighting the significance of the latest phase of this mission-critical endeavor, the celebration will be attended in person and virtually by key partners, government officials and community stakeholders, including Marti Taylor, president and CEO of OneFifteen; Joel S. Marcus, executive chairman and founder of Alexandria Real Estate Equities, Inc. and Alexandria Venture Investments; Andy Conrad, CEO of Verily; Mayor Nan Whaley of Dayton; Commissioner Judy Dodge of Montgomery County; Senator Robert Portman of Ohio; Congressman Mike Turner of Ohio; Helen Jones-Kelley, Executive Director of the Montgomery County ADAMHS Board; Gwen Buchanan, president of Carillon Civic Council; Senator Sherrod Brown of Ohio; and Robert Califf, MD, MACC, advisor of Verily and former FDA Commissioner.

"The U.S. opioid epidemic is one of the most pervasive public health challenges in our nation's history," said Joel S. Marcus. "The recent and dramatic rise in overdose deaths underscores the importance of OneFifteen's vision to reverse the trajectory of the opioid crisis and heal people suffering from the disease of addiction. As a mission-driven company at the vanguard and heart of the life science ecosystem and dedicated to creating campuses that enable the advancement of human health, Alexandria's passion and commitment to help people live healthy, addiction-free lives has never been greater. It is our sincere hope that OneFifteen's groundbreaking, comprehensive treatment strategy encompassing recovery, residential housing, family reunification, job training and placement will drive superior outcomes and ultimately enable our project in Dayton to be a model for the rest of the country to replicate."

Compelled by the vision to create an innovative non-profit healthcare ecosystem dedicated to the full and sustained recovery of people living with addiction, Alexandria led the design and development of and pioneered the vision of the 4.3-acre, 59,000 RSF holistic campus environment aimed at revolutionizing the way addiction is treated. Vital to OneFifteen's unique model of care, Verily is developing a learning health system that will utilize data to continuously improve its treatment model. Since opening in the fall of 2019, OneFifteen has seen more than 1,500 patients and carried out more than 2,000 virtual visits. OneFifteen Living, a three-story residential facility, was designed to serve as a safe place where patients can live while accessing on-campus treatment services and represents the expansion and culmination of the initial launch to the full array of treatment services on the Dayton campus. The 26,304 square foot building will house residents with separate living spaces for women and men. To support the mental health and well-being of residents the building features ample natural light, a fitness center, a meditation room, and beautiful outdoor space. The design philosophy for OneFifteen Living and the entire campus is centered on the fundamental belief that the physical environment is an essential factor in recovery.

In 2019, with the goal to revolutionize the way addiction is treated, and in understanding the enormity and urgency of the opioid crisis and the devastation it has caused to countless families and communities, Alexandria and its partners Kettering Health Network, Premier Health and Verily launched OneFifteen, whose name was chosen to shed light on the 115 daily deaths in the United States from opioid overdoses in 2017. Drug overdose deaths showed a slight decline in 2018 but rose to record numbers the following year with nearly 72,000 people dying from overdoses, representing more deaths than all U.S. casualties during the entire Vietnam War. The COVID-19 pandemic has intensified the crisis, exacerbated by massive job losses, immense stress and extreme isolation that have destabilized people struggling with addiction. Nationally, monthly drug overdoses have increased dramatically during the pandemic, up 42% in May 2020. In Montgomery County alone, where the OneFifteen campus is located, overdose deaths have increased 25% year-to-date, compared with the same period the year before. These startling numbers highlight the importance of OneFifteen's unique non-profit model of care, which is accessible to anyone in need of treatment, regardless of insurance status.

About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500^® urban office REIT, is the first, longest-tenured and pioneering owner, operator and developer uniquely focused on collaborative life science, technology and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $27.7 billion as of June 30, 2020, and an asset base in North America of 43.0 million SF. The asset base in North America includes 28.8 million RSF of operating properties and 2.3 million RSF of Class A properties undergoing construction, 6.6 million RSF of near-term and intermediate-term development and redevelopment projects and 5.3 million SF of future development projects. Founded in 1994, Alexandria pioneered this niche and has since established a significant market presence in key locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland and Research Triangle. Alexandria has a longstanding and proven track record of developing Class A properties clustered in urban life science, technology and agtech campuses that provide our innovative tenants with highly dynamic and collaborative environments that enhance their ability to successfully recruit and retain world-class talent and inspire productivity, efficiency, creativity and success. Alexandria also provides strategic capital to transformative life science, technology and agtech companies through our venture capital platform. We believe our unique business model and diligent underwriting ensure a high-quality and diverse tenant base that results in higher occupancy levels, longer lease terms, higher rental income, higher returns and greater long-term asset value.

Forward-Looking Statements 
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, without limitation, statements regarding the potential impacts of the COVID-19 pandemic, including its exacerbation of the opioid crisis, and the potential effectiveness of any treatment approach to the opioid crisis or addiction. These forward-looking statements are based on Alexandria's present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by Alexandria's forward-looking statements as a result of a variety of factors. All forward-looking statements are made as of the date of this press release, and Alexandria assumes no obligation to update this information. For more discussion relating to risks and uncertainties that could cause actual results to differ materially from those anticipated in the Company's forward-looking statements, and risks and uncertainties to the Company's business in general, please refer to the Company's filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and any subsequently filed quarterly reports on Form 10-Q. 

CONTACT: Sara Kabakoff, Vice President – Corporate Communications, (626) 788-5578, skabakoff@are.com

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SOURCE Alexandria Real Estate Equities, Inc.

FAQ

What is OneFifteen Living?

OneFifteen Living is a residential facility delivered by Alexandria Real Estate Equities aimed at supporting recovery from addiction.

How does Alexandria Real Estate Equities contribute to addressing the opioid crisis?

Through its OneFifteen campus, Alexandria is delivering innovative treatment solutions and residential services to combat the opioid epidemic.

When was OneFifteen Living delivered?

OneFifteen Living was delivered on September 18, 2020.

What is the significance of the OneFifteen project?

OneFifteen aims to revolutionize addiction treatment and reduce the impact of the opioid epidemic through its comprehensive care model.

How big is the OneFifteen Living facility?

The OneFifteen Living facility is 26,304 square feet, designed to provide a safe living environment for patients.