Exhibit 99.1
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HCP Announces Results for the Fourth Quarter and Year Ended 2017
IRVINE, CA, February 13, 2018 -- HCP (NYSE:HCP) announced results for the fourth quarter and full year ended December 31, 2017.
FOURTH QUARTER 2017 FINANCIAL PERFORMANCE AND RECENT HIGHLIGHTS
Net loss, FFO and FFO as adjusted applicable to common shares were $(0.13), $0.11 and $0.48 per share, respectively
Commenced Phase I of Sierra Point, our next major life science development in South San Francisco
Entered into a $115 million participating development financing agreement for a high-rise senior living development in downtown Seattle
Acquired an 11-asset portfolio of medical office buildings for $151 million
Closed on the previously announced $228 million acquisition of the Hayden Research Campus in the Boston life science market
As previously announced, closed on a new $2.0 billion unsecured revolving credit facility
Recognized an $84 million impairment on our Tandem debt investment
Announced Mike McKee to step down from his role as Executive Chairman and retire from HCP's Board of Directors at the upcoming Annual Meeting
Named as a 2017 ENERGY STAR Partner of the Year for outstanding efforts to improve our properties' energy efficiency
FULL YEAR 2017 HIGHLIGHTS
Net income, FFO and FFO as adjusted applicable to common shares were $0.88, $1.41 and $1.95 per share, respectively
Achieved year-over-year Total SPP Cash NOI growth of 3.4%
Significantly lowered our Brookdale Senior Living, Inc. ("Brookdale") tenant concentration with $1.6 billion of closed dispositions and entered into additional strategic transactions which, when combined, result in a more diversified senior housing operator portfolio, improved triple-net lease coverage, and a stronger balance sheet
Closed $562 million of acquisitions, including our entry into the Boston life science market
Enhanced our financial position with $1.4 billion of debt repayments
Substantially exited our high-risk mezzanine debt investments, generating proceeds of $500 million
Launched sales process for our remaining U.K. investments
Executed 4.1 million square feet of leasing across our medical office and life science portfolios
Recognized for our continued leadership and performance by several prominent Environmental, Social and Governance ("ESG") benchmarking institutions
Enhanced corporate governance by opting out of provisions of the Maryland Unsolicited Takeover Act ("MUTA") and adopting majority-vote standard for stockholder bylaw amendments

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The following information was filed by Hcp, Inc. (HCP) on Tuesday, February 13, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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