Jan 27 (Reuters) - Alexandria Real Estate Equities ( ARE )

posted a rise in its fourth-quarter funds from

operations on Monday, as the real estate investment trust

benefited from steady leasing demand from biotech clients and

technology-focused firms.

The Pasadena, California-based company operates and develops

life science laboratories, offices and technology campuses

across North America.

Its clients include Bristol Myers Squibb ( BMY ), Moderna ( MRNA )

and Eli Lilly ( LLY ), as well as agricultural tech

companies and research institutions.

Occupancy of Alexandria's operating properties held steady

at 94.6% as of Dec. 31, compared with the year earlier.

FFO, a key performance measure for REITs, came in at $411.8

million, or $2.39 per share, for the quarter, compared with

$389.8 million, or $2.28 per share, a year ago.

Its total revenue for the quarter rose 4.2% to $788.9

million.