Alexandria Real Estate Equities, Inc. (NYSE: ARE) has elected Sheila K. McGrath as an independent director to its board of directors. McGrath will also serve as a Life Science, Agtech & Advanced Technologies Committee member. The board has confirmed her status as an independent director in line with New York Stock Exchange listing standards and Securities and Exchange Commission rules. McGrath's term will run until the company's 2024 annual stockholder meeting.
Sheila K. McGrath, a highly respected and experienced veteran in the REIT industry, has over 25 years of experience as a leading specialist in real estate investment trusts, and she brings significant financial expertise to the table. The company looks forward to gaining valuable perspectives and insights from Ms. McGrath as it pursues its disciplined investment and portfolio management approach to enhance long-term stockholder value.
With strong financial skills and a nearly three-decade track record as a distinguished equity research analyst covering the REIT sector, Sheila will add significant value to Alexandria and for our stockholders.Joel S. Marcus, executive chairman and founder of Alexandria Real Estate Equities, Inc. and Alexandria Venture Investments
Sheila K. McGrath was senior managing director at Evercore ISI, specialising in U.S. equity REITs, real estate operating companies, and Mexican real estate investment vehicles from 2012 to 2022. Before her tenure at Evercore, she served as a managing director and sector head for REIT research at Keefe, Bruyette & Woods for five years, during which she was also a member of the firm's Research Review Committee and Leadership Committee. Before this, from 1994 to 2007, Ms. McGrath worked as an equity research analyst covering REITs and real estate operating companies at various firms, including Smith Barney and UBS. Her career commenced as a commercial real estate appraiser, where she assessed different commercial real estate properties across multiple sectors and conducted feasibility studies for new development projects.
McGrath's involvement extends beyond her professional roles, as she currently holds positions on the boards of Alexandria and Granite Point Mortgage Trust Inc. She is an active member of Nareit, serving on the Advisory Board of Governors and the Real Estate Investment Advisory Council and previously on the Best Financial Practices Council. Additionally, Ms. McGrath is a board member of the Rutgers Business School's Center for Women in Business and played a pivotal role as a founding member. Her academic achievements include a Bachelor of Arts degree in Economics from Lafayette College and a Master of Business Administration degree in Finance from Rutgers University.