Pasadena-Based Alexandria Real Estate Equities President Resigns

Dean A. Shigenaga, President and Chief Financial Officer of $2.5 billion in annual revenue, Pasadena-based Alexandria Real Estate Equities, Inc., has resigned from all of his positions with the company for “important personal family health reasons,” the company announced in a filing with the Securities and Exchange Commission earlier this month. 

Shigenaga had been president since January 2001 and CFO since December 2004.

The resignation was also reported in the company’s second-quarter earnings report released during the last week of July. 

Shigenaga’s resignation becomes effective on Sept. 15, the filing said. It added Shigenaga is expected to continue to “assist the company with transitional matters” and will serve as a strategic consultant.

“The board of directors of the Company thanks Mr. Shigenaga for his many years of valuable and strategic leadership and service to the Company and looks forward to continuing the long-term relationship in a new strategic role as a consultant,” according to the filing. 

The SEC filing also said the ARE Equities, Inc. board, on Aug. 17, elected former Executive Vice President for Finance and Treasurer Marc E. Binda to serve as Chief Financial Officer and Treasurer effective Sept. 15. 

Binda, 47, has served as EVP Finance and Treasurer since June 2019. He was Senior VP for Finance and Treasurer, SVP for Finance, and has served in other capacities with the company from January 2005 to April 2012. Currently, he oversees the company’s treasury strategies and risk management, balance sheet management, financial projections, capital planning, debt financing, and other capital market transactions. He also provides business and technical advice on various company transactions. 

Before joining ARE Equities, Inc., Binda was a financial reporting manager at Watt Centro Management JV, and before that was a manager in Ernst & Young LLP’s Real Estate Advisory Business Services group. 

Binda is a CPA and received his BS degree in Accounting from California Lutheran University.

Alexandria Real Estate Equities, Inc. specializes in owning and leasing office buildings and laboratories for life science and technology tenants. Founded in 1994 by Joel S. Marcus and Jerry M. Sudarsky, the company is listed on the New York Stock Exchange as part of the S&P 500 index. 

In 2022, the company reported a revenue of $2.588 billion. Alexandria also has a venture capital arm, Alexandria Venture Investments, that supports life sciences firms. The company’s name reflects its admiration for Alexandria, Egypt, a historical center of science.

For more information, visit www.are.com.