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Healthpeak Properties, Inc. (PEAK) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

SEC Filings

Healthpeak Properties, Inc.

CIK: 765880 Ticker: PEAK
Exhibit 99.1
    



Healthpeak Reports Fourth Quarter and Year Ended 2021 Results
DENVER, February 8, 2022 - Healthpeak Properties, Inc. (NYSE: PEAK) today announced results for the fourth quarter and full year ended December 31, 2021.
FOURTH QUARTER 2021 FINANCIAL PERFORMANCE AND RECENT HIGHLIGHTS
Net income of $0.05 per share, Nareit FFO of $0.41 per share, FFO as Adjusted of $0.41 per share, and blended Total Same-Store Portfolio Cash (Adjusted) NOI growth of 2.7%
Life Science and MOB Same-Store Portfolio Cash (Adjusted) NOI growth of 5.4% and 3.6%, respectively
Total pro forma Same-Store Portfolio Cash (Adjusted) NOI growth of 4.0% excluding government grants received under the CARES Act at our CCRC properties
Life science development leasing:
Pre-leased all 148,000 square feet at Nexus on Grand in South San Francisco
Active life science developments 76% pre-leased as of the end of the fourth quarter
Additional life science development pipeline opportunities:
Acquired a combined ten acre parcel in the Sorrento Mesa submarket of San Diego
Acquired a joint venture interest in a nine acre land parcel located in the Needham submarket of Boston
Balance sheet:
In November, issued $500 million of 2.125% senior unsecured notes in a green bond offering
Pro forma net debt to adjusted EBITDAre of 5.3x as of December 31, 2021, including $316 million of net proceeds from the future expected settlement of shares sold under equity forward contracts through the Company's ATM program during the third quarter of 2021
Promoted Scott Bohn to Executive Vice President – Co-Head of Life Science
The Board of Directors declared a quarterly common stock cash dividend of $0.30 per share to be paid on February 22, 2022, to stockholders of record as of the close of business on February 11, 2022
Recent ESG recognitions include being named to the CDP Leadership band for the ninth consecutive year; included in the S&P Global Sustainability Yearbook for the seventh consecutive year and Bloomberg Gender-Equality Index for the third consecutive year; and named a Top-Rated Industry Performer and Top-Rated Regional Performer by Sustainalytics for the first time

FULL YEAR 2021 HIGHLIGHTS
Net income of $0.93 per share, Nareit FFO of $1.12 per share, FFO as Adjusted of $1.61 per share, and blended Total Same-Store Portfolio Cash (Adjusted) NOI growth of 4.4%
Life Science and MOB Same-Store Portfolio Cash (Adjusted) NOI growth of 7.2% and 3.1%, respectively
Total pro forma Same-Store Portfolio Cash (Adjusted) NOI growth of 4.9% excluding government grants received under the CARES Act at our CCRC properties
Closed $1.5 billion of acquisitions including:
$658 million of life science acquisitions
$834 million of medical office acquisitions
Development:
Commenced four life science development projects totaling approximately 839,000 square feet, representing $812 million of estimated total spend
Signed 729,000 square feet of life science and MOB development leasing during 2021
Closed $3.3 billion of dispositions including:
$3 billion of senior housing sales and loan repayments, bringing total senior housing dispositions to approximately $4 billion since July 2020
Page 1

The following information was filed by Healthpeak Properties, Inc. (PEAK) on Tuesday, February 8, 2022 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

Audit Information
Cover
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Equity And Redeemable Noncontrolling Interests
Consolidated Statements Of Equity And Redeemable Noncontrolling Interests (Parenthetical)
Consolidated Statements Of Operations
Accounts Payable, Accrued Liabilities, And Other Liabilities
Accounts Payable, Accrued Liabilities, And Other Liabilities (Details)
Accounts Payable, Accrued Liabilities, And Other Liabilities (Tables)
Business
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Credit Enhancement Guarantee (Details)
Commitments And Contingencies - Downreit Llcs (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)
Dispositions Of Real Estate And Discontinued Operations
Dispositions Of Real Estate And Discontinued Operations (Tables)
Dispositions Of Real Estate And Discontinued Operations - 2019 Dispositions Of Real Estate (Details)
Dispositions Of Real Estate And Discontinued Operations - 2020 Dispositions Of Real Estate (Details)
Dispositions Of Real Estate And Discontinued Operations - 2021 Dispositions Of Real Estate (Details)
Dispositions Of Real Estate And Discontinued Operations - Assets And Liabilities For Discontinued Operations (Details)
Dispositions Of Real Estate And Discontinued Operations - Schedule Of Results Of Discontinued Operations (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 And Redeemable Noncontrolling Interests
Equity And Redeemable Noncontrolling Interests (Tables)
Equity And Redeemable Noncontrolling Interests - Atm Program (Details)
Equity And Redeemable Noncontrolling Interests - Dividends (Details)
Equity And Redeemable Noncontrolling Interests - Forward Equity Offering (Details)
Equity And Redeemable Noncontrolling Interests - Noncontrolling Interests Narrative (Details)
Equity And Redeemable Noncontrolling Interests - Schedule Of Accumulated Other Comprehensive Income (Loss) (Details)
Equity And Redeemable Noncontrolling Interests - Schedule Of Other Common Stock Activities (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Impairments Of Real Estate
Impairments Of Real Estate (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 - 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 - Covid Rent Deferrals (Details)
Leases - Depreciation Expense (Details)
Leases - Future Lease Obligations (Details)
Leases - Future Minimum Rents (Details)
Leases - Future Minimum Rents, 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 - 2020 Loans Receivable Transactions (Details)
Loans Receivable - 2021 Loans Receivable Transactions (Details)
Loans Receivable - Loan Losses (Details)
Loans Receivable - Schedule Of Loans Receivable (Details)
Loans Receivable - Schedule Of Loans Receivable By Origination Year (Details)
Loans Receivable - Shop Seller Financing (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 - 2020 Real Estate Investments (Details)
Real Estate Transactions - 2021 Real Estate Investment Acquisitions (Details)
Real Estate Transactions - Construction, Tenant, And Other Capital Improvements (Details)
Real Estate Transactions - Development Activities (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
Schedule Iv: Mortgage Loans On Real Estate (Details)
Schedule Iv: Mortgage Loans On Real Estate - Reconciliation Of Mortgage Loans (Details)
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 (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Adjustment To Additional Paid-In Capital And Redeemable Noncontrolling Interests (Details)
Summary Of Significant Accounting Policies - Narrative (Details)
Summary Of Significant Accounting Policies - Schedule Of Government Grant Receivables Cares Act (Details)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (Tables)
Supplemental Cash Flow Information - Summary Of Cash Equivalents And Restricted Cash (Details)
Supplemental Cash Flow Information - Summary Of Cash Flow Information Discontinued Operations (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: 0001628280-22-002117
Submitted to the SEC: Wed Feb 09 2022 4:47:28 PM EST
Accepted by the SEC: Wed Feb 09 2022
Period: Friday, December 31, 2021
Industry: Real Estate Investment Trusts

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