Courtesy Alexandria Real Estate Equities

After reducing its construction spending plans at the outset of the COVID-19 pandemic, life science developer Alexandria Real Estate Equities is ramping up more aggressive plans for the remainder of 2020.

The Pasadena, California-based REIT said it’s estimating construction spending for the year of $1.35 billion, up from the previous guidance of $960 million. And it’s planning up to $1.3 billion in acquisitions that are expected to close in the second half of 2020.

In April, Alexandria said it was scaling back its development pipeline because of financial uncertainties, but life science real estate has proven resilient amid the search for a COVID-19 vaccine and the industry’s insulation from work-from-home models.

Alexandria tenants, including AstraZeneca, Johnson & Johnson, Moderna and Pfizer, have received federal grants for COVID-19 research, while others, including Quest Diagnostics and Thermo Fisher Scientific, are active in the virus testing market.

In its second-quarter financial report issued Tuesday, Alexandria reported total revenues of $437 million, up nearly 17 percent from the previous year, and funds from operations of $225 million, or $1.81 per share.

The Pasadena-based REIT owns 66 properties totaling nearly 7.6 million square feet in Greater Boston, which account for 35 percent of its $1.3 billion in annual rental revenues. It has another 206,000 square feet in future redevelopment projects in the Boston area.

Alexandria acquired the 630,000-square-foot Arsenal on the Charles property in Watertown in December for $525 million and has followed that up with purchases of the 510,000-square-foot Riverside Center at 275 Grove St. in Newton for a potential office-to-lab conversion. And the firm recently partnered with Newton-based National Development to buy the 6-acre former Mount Auburn Club  property in Watertown for redevelopment.

Alexandria’s Greater Boston portfolio was 98.2 percent occupied as of June 30.