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Healthpeak Properties, Inc. (PEAK) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

Healthpeak Properties, Inc.

CIK: 765880 Ticker: PEAK
Exhibit 99.1

 


Healthpeak PropertiesTM Reports Fourth Quarter and Year Ended 2019 Results
IRVINE, CA, February 11, 2020 -- Healthpeak Properties, Inc. (NYSE: PEAK) today announced results for the fourth quarter and full year ended December 31, 2019.
FOURTH QUARTER 2019 FINANCIAL PERFORMANCE AND RECENT HIGHLIGHTS
Net income of $0.09 per share, NAREIT FFO of $0.39 per share, FFO as Adjusted of $0.44 per share and blended Total Portfolio SPP Cash NOI growth of 3.6%
Executed a definitive agreement to acquire The Post, a 426,000 square foot life science property located within the Route 128 submarket of Boston, Massachusetts, for $320 million
Signed leases totaling 122,000 square feet at Healthpeak’s 75 Hayden development project in Boston, Massachusetts
Executed an agreement with Capital Senior Living ("CSU") to convert the six properties in the master lease maturing 2026 into a RIDEA structure and immediately market those properties for sale
Previously announced Life Science transactions:
In December 2019, closed on the $333 million acquisition of 35 CambridgePark Drive in the West Cambridge Boston submarket
Commenced construction on a $164 million life science development project, The Boardwalk, located in the Torrey Pines life science cluster in San Diego
Executed a long-term lease with Janssen BioPharma, Inc., part of the Johnson & Johnson Family of Companies, for approximately 60% of Phase II of The Shore at Sierra Point
Executed a lease amendment and extension with Amgen at Healthpeak's Britannia Oyster Point campus in South San Francisco
Previously announced Senior Housing transactions:
Entered into an agreement with Oakmont Senior Living (“Oakmont”) that provides Healthpeak the option to acquire up to 24 of Oakmont's senior housing development properties as completed and stabilized over the next four years
In January 2020, closed on the transactions with Brookdale Senior Living (“Brookdale”) related to the acquisition of Brookdale's 51% interest in 13 CCRCs for $641 million (which includes payment of a $100 million management termination fee) and the sale of the 18-property triple-net portfolio for $405 million
In December 2019, closed on a $790 million sovereign wealth fund senior housing joint venture ("SWF SH JV") in which Healthpeak sold a 46.5% interest in a 19-property senior housing operating portfolio managed by Brookdale to a sovereign wealth fund
In December 2019, closed on the sale of the remaining 49% interest in Healthpeak's U.K. holdings, which resulted in $91 million of net proceeds
Previously announced Medical Office transactions:
Added an on-campus medical office development in Nashville with a total estimated spend of $49 million to Healthpeak’s development program with HCA Healthcare (“HCA”)
Issued $750 million of 3.00% senior unsecured notes due 2030 and prepaid Healthpeak's $350 million 4.00% senior unsecured notes due 2022
Completed public offering of 15.6 million shares of common stock for gross proceeds of $547 million and sold 7.5 million shares of common stock under the ATM equity program, raising gross proceeds of $250 million
Appointed Sara Grootwassink Lewis as an independent director to Healthpeak’s Board of Directors
Welcomed Justin Hill to our team to lead Medical Office business development

Page 1

The following information was filed by Healthpeak Properties, Inc. (PEAK) on Tuesday, February 11, 2020 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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Inside Healthpeak Properties, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Equity
Consolidated Statements Of Equity (Parenthetical)
Consolidated Statements Of Operations
Business
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Credit Enhancement Guarantee (Details)
Commitments And Contingencies - Downreit Llcs (Details)
Commitments And Contingencies - Legal Proceedings (Details)
Commitments And Contingencies - Schedule Of Contractual Obligation (Details)
Compensation Plans
Compensation Plans (Tables)
Compensation Plans - Restricted Stock Awards Narrative (Details)
Compensation Plans - Schedule Of Restricted Stock And Rsus Activity (Details)
Compensation Plans - Stock Based Compensation (Details)
Compensation Plans - Stock Options (Details)
Concentration Of Credit Risk
Concentration Of Credit Risk (Tables)
Concentration Of Credit Risk - Schedule Of Geographical Concentration Of Credit Risk (Details)
Debt
Debt (Tables)
Debt - Bank Line Of Credit And Term Loans (Details)
Debt - Commercial Paper Program (Details)
Debt - Mortgage Debt (Details)
Debt - Schedule Of Debt Maturities (Details)
Debt - Senior Unsecured Notes (Details)
Derivative Financial Instruments
Derivative Financial Instruments (Tables)
Derivative Financial Instruments - Financial Instruments (Details)
Derivative Financial Instruments - Narrative (Details)
Earnings Per Common Share
Earnings Per Common Share (Tables)
Earnings Per Common Share - Additional Information (Details)
Earnings Per Common Share - Computation Of Eps (Details)
Equity
Equity (Tables)
Equity - Atm Program (Details)
Equity - Dividends (Details)
Equity - Forward Equity Offering (Details)
Equity - Noncontrolling Interests Narrative (Details)
Equity - Schedule Of Accumulated Other Comprehensive Loss (Details)
Equity - Schedule Of Other Common Stock Activities (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Impairments
Impairments (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Narrative (Details)
Income Taxes - Schedule Of Common Stock Distribution (Details)
Income Taxes - Schedule Of Deferred Tax Assets And Liabilities (Details)
Income Taxes - Schedule Of Income Tax Expense (Benefit) (Details)
Income Taxes - Schedule Of Income Tax Expense (Benefit) Reconciliation (Details)
Income Taxes - Unrecognized Tax Benefits (Details)
Intangibles
Intangibles (Tables)
Intangibles - Amortization Of Deferred Leasing Costs And Acquisition Related Intangibles (Details)
Intangibles - Estimated Aggregate Amortization Of Intangible Assets And Liabilities (Details)
Intangibles - Narrative (Details)
Intangibles - Schedule Of Intangible Lease Liabilities (Details)
Intangibles - Schedule Of Intangibles Lease Assets (Details)
Investments In And Advances To Unconsolidated Joint Ventures
Investments In And Advances To Unconsolidated Joint Ventures (Tables)
Investments In And Advances To Unconsolidated Joint Ventures - Balance Sheet Disclosures (Details)
Investments In And Advances To Unconsolidated Joint Ventures - Income Statement Disclosures (Details)
Investments In And Advances To Unconsolidated Joint Ventures - Narrative (Details)
Investments In And Advances To Unconsolidated Joint Ventures - Schedule Of Equity Method Investments (Details)
Leases
Leases (Tables)
Leases - Components Of Net Investment In Dfls (Details)
Leases - Depreciation Expense (Details)
Leases - Direct Financing Lease Sale (Details)
Leases - Future Lease Obligations (Details)
Leases - Future Minimum Rents (Details)
Leases - Future Minimum Rents, Dfls (Details)
Leases - Internal Ratings For Net Investment, Dfls (Details)
Leases - Lease Costs (Details)
Leases - Lease Income (Details)
Leases - Narrative (Details)
Leases - Tenant Purchase Options (Details)
Loans Receivable
Loans Receivable (Tables)
Loans Receivable - Four Seasons Health Care (Details)
Loans Receivable - Internal Ratings For Loans Receivable (Details)
Loans Receivable - Loans Receivable Secured By Real Estate (Details)
Loans Receivable - Schedule Of Loans Receivable (Details)
Loans Receivable - Tandem Health Care Loan (Details)
Loans Receivable - U.K. Bridge Loan (Details)
Master Transactions And Cooperation Agreement With Brookdale
Master Transactions And Cooperation Agreement With Brookdale (Details)
Real Estate Transactions
Real Estate Transactions (Tables)
Real Estate Transactions - 2017 Dispositions (Details)
Real Estate Transactions - 2018 Other Dispositions (Details)
Real Estate Transactions - 2019 Dispositions (Details)
Real Estate Transactions - 2019 Real Estate Investments (Details)
Real Estate Transactions - Brookdale Mtca Disposition (Details)
Real Estate Transactions - Construction, Tenant, And Other Capital Improvements (Details)
Real Estate Transactions - Held For Sale (Details)
Real Estate Transactions - Life Science Jv Interest Purchase (Details)
Real Estate Transactions - Msrei Mob Jv (Details)
Real Estate Transactions - Other Real Estate Acquisitions (Details)
Real Estate Transactions - Ridea Ii Sale Transaction (Details)
Real Estate Transactions - Shoreline Technology Center (Details)
Real Estate Transactions - U.K. Portfolio (Details)
Schedule Ii: Valuation And Qualifying Accounts
Schedule Ii: Valuation And Qualifying Accounts (Details)
Schedule Iii: Real Estate And Accumulated Depreciation
Schedule Iii: Real Estate And Accumulated Depreciation - Amount That Tax Basis Of Net Real Estate Assets Less Than The Reported Amounts (Details)
Schedule Iii: Real Estate And Accumulated Depreciation - Details Of Real Estate And Accumulated Depreciation (Details)
Schedule Iii: Real Estate And Accumulated Depreciation - Summary Of Activity For Real Estate And Accumulated Depreciation (Details)
Schedule Iv: Mortgage Loans On Real Estate (Details)
Schedule Iv: Mortgage Loans On Real Estate - Reconciliation Of Mortgage Loans (Details)
Schedule Iv: Mortgage Loans On Real Estate Schedule Iv: Mortgage Loans On Real Estate
Segment Disclosures
Segment Disclosures (Tables)
Segment Disclosures - Narrative (Details)
Segment Disclosures - Revenues And Assets By Segment (Details)
Segment Disclosures - Summary Information For The Reportable Segments (Details)
Selected Quarterly Financial Data (Unaudited)
Selected Quarterly Financial Data (Unaudited) (Details)
Selected Quarterly Financial Data (Unaudited) (Tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (Tables)
Supplemental Cash Flow Information - Cash, Cash Equivalents And Restricted Cash (Details)
Supplemental Cash Flow Information - Summary Of Supplemental (Details)
Variable Interest Entities
Variable Interest Entities (Tables)
Variable Interest Entities - Balance Sheet Disclosures (Details)
Variable Interest Entities - Narrative (Details)
Variable Interest Entities - Schedule Of Variable Interest Entities (Details)
Ticker: PEAK
CIK: 765880
Form Type: 10-K Annual Report
Accession Number: 0001628280-20-001456
Submitted to the SEC: Wed Feb 12 2020 7:02:04 PM EST
Accepted by the SEC: Thu Feb 13 2020
Period: Tuesday, December 31, 2019
Industry: Real Estate Investment Trusts

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