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Healthpeak Properties, Inc. (PEAK) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

Healthpeak Properties, Inc.

CIK: 765880 Ticker: PEAK
Exhibit 99.1



Healthpeak PropertiesTM Reports Second Quarter 2020 Results
IRVINE, CA, August 4, 2020 -- Healthpeak Properties, Inc. (NYSE: PEAK) today announced results for the second quarter ended June 30, 2020.
For the quarter, we generated net income of $0.09 per share, NAREIT FFO of $0.34 per share, FFO as Adjusted of $0.40 per share and blended Total Same-Store Portfolio Cash NOI results of (2.2%).
SECOND QUARTER 2020 FINANCIAL PERFORMANCE AND RECENT HIGHLIGHTS
The COVID-19 pandemic continues to evolve rapidly. In order to provide more up-to-date information about the impact of COVID-19 on Healthpeak, we have included certain key operating metrics through July 2020 in this release.
Balance sheet and liquidity:
In June 2020, issued $600 million of 2.875% senior unsecured notes due 2031 and used proceeds to redeem all of Healthpeak’s outstanding $300 million 3.150% senior unsecured notes due August 2022 and to repurchase $250 million of Healthpeak’s 4.250% senior unsecured notes due November 2023, pursuant to a tender offer completed in June 2020. Healthpeak incurred losses on debt extinguishment of $26 million in June and approximately $18 million in July in connection with the refinancings. Following these transactions, Healthpeak has no material scheduled debt maturities until November 2023.
As of July 31, 2020, had $2.85 billion of liquidity including full availability on Healthpeak’s $2.5 billion revolving credit facility and approximately $350 million of cash and cash equivalents.
Transactions:
In June 2020, closed on the previously announced sale of the three Frost Street medical office buildings in San Diego, CA, generating proceeds of approximately $106 million, representing a cash capitalization rate of 6.0%.
In April 2020, closed on the previously announced $320 million life science acquisition of The Post, a 426,000 square foot life science property located within the Route 128 submarket of Boston, Massachusetts. The stabilized cash and GAAP capitalization rates are 5.1% and 6.5%, respectively.
Development completion:
Delivered a 52,000 square foot, three-story Class A medical office building, located on HCA's campus of Lee's Summit Medical Center, in Lee's Summit, Missouri. The development was 51% leased to HCA upon delivery.
Development leasing:
In July 2020, signed two leases totaling 60,000 square feet, with a weighted average lease term of 8.5 years, bringing the 75 Hayden Avenue development to 100% leased. The project is expected to be completed and delivered in the third quarter of 2021.
In June 2020, signed a 17-year lease with a full-building user totaling 74,000 square feet at our Boardwalk development project in San Diego, California. The 190,000 square foot Class A, three-building development is now 39% pre-leased.
Declared quarterly common stock cash dividend of $0.37 per share to be paid on August 25, 2020, to stockholders of record as of the close of business on August 14, 2020.
Published 9th annual ESG Report covering 2019 environmental, social and governance (ESG) initiatives and progress; and named to Corporate Responsibility Magazine's 100 Best Corporate Citizens List for the second consecutive year.




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The following information was filed by Healthpeak Properties, Inc. (PEAK) on Tuesday, August 4, 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-Q Quarterly 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-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly 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 (Details)
Debt
Debt (Tables)
Debt - Bank Line Of Credit And Term Loans (Details)
Debt - Commercial Paper Program (Details)
Debt - Debt Maturities (Details)
Debt - Mortgage Debt (Details)
Debt - Senior Unsecured Notes (Details)
Derivative Financial Instruments
Derivative Financial Instruments (Tables)
Derivative Financial Instruments - Narrative (Details)
Derivative Financial Instruments - Schedule Of Derivative Instruments (Details)
Earnings Per Common Share
Earnings Per Common Share (Tables)
Earnings Per Common Share - Narrative (Details)
Earnings Per Common Share - Schedule Of Computation Of Basic And Diluted Earnings Per Share (Details)
Equity
Equity (Tables)
Equity - Additional Information (Details)
Equity - Aoci (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Intangibles
Intangibles (Tables)
Intangibles - Additional Information (Details)
Intangibles - Intangibles Lease Assets (Details)
Intangibles - Intangibles Lease Liabilities (Details)
Investments In And Advances To Unconsolidated Joint Ventures
Investments In And Advances To Unconsolidated Joint Ventures (Details)
Investments In And Advances To Unconsolidated Joint Ventures (Tables)
Leases
Leases (Tables)
Leases - Direct Financing Lease Sale And Conversion (Details)
Leases - Direct Financing Leases (Details)
Leases - Lease Costs (Details)
Leases - Lease Income (Details)
Leases - Rent Deferrals (Details)
Loans Receivable
Loans Receivable (Tables)
Loans Receivable - Narrative (Details)
Loans Receivable - Schedule Of Loans Receivable (Details)
Loans Receivable - Schedule Of Loans Receivable By Origination Year (Details)
Loans Receivable - Schedule Of Reserve For Loan Losses (Details)
Master Transactions And Cooperation Agreement With Brookdale
Master Transactions And Cooperation Agreement With Brookdale (Details)
Real Estate Transactions
Real Estate Transactions - Development Activities (Details)
Real Estate Transactions - Dispositions Of Real Estate (Details)
Real Estate Transactions - Held For Sale (Details)
Real Estate Transactions - Impairments Of Real Estate (Details)
Real Estate Transactions - Real Estate Investments (Details)
Segment Disclosures
Segment Disclosures (Tables)
Segment Disclosures - Revenues By Segment (Details)
Segment Disclosures - Summary Information For The Reportable Segments (Details)
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 - Schedule Of Cash, Cash Equivalents And Restricted Cash (Details)
Supplemental Cash Flow Information - Supplemental Cash Flow Information (Details)
Variable Interest Entities
Variable Interest Entities (Tables)
Variable Interest Entities - Consolidated Assets And Liabilities Of Vies (Details)
Variable Interest Entities - Narrative (Details)
Variable Interest Entities - Schedule Of Variable Interest Entities (Details)

Material Contracts, Statements, Certifications & more

Healthpeak Properties, Inc. provided additional information to their SEC Filing as exhibits

Ticker: PEAK
CIK: 765880
Form Type: 10-Q Quarterly Report
Accession Number: 0001628280-20-011794
Submitted to the SEC: Wed Aug 05 2020 4:19:28 PM EST
Accepted by the SEC: Wed Aug 05 2020
Period: Tuesday, June 30, 2020
Industry: Real Estate Investment Trusts

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