Healthpeak Properties Inc
F:HC5
Healthpeak Properties Inc
Healthpeak Properties Inc. stands as a testament to strategic healthcare real estate investing. Originally founded in 1985, this real estate investment trust (REIT) has intricately woven its operations into the fabric of the American healthcare landscape. With an astute focus on three primary segments—life science, medical office, and senior housing—Healthpeak has carved a niche as a powerhouse, aligning its portfolio with national healthcare trends. Life science assets often see collaborations with research institutions and biotech firms, while its medical office properties support outpatient services across the country. Within senior housing, Healthpeak addresses the growing demand from an aging population, choosing investments that reflect both demographic shifts and the evolution of senior care solutions.
The company’s revenue streams are as diversified as its portfolio, which notably reduces risk while maximizing revenue potential. As a REIT, Healthpeak primarily derives income from leasing space within its properties to healthcare operators and providers. This model benefits from stable, long-term lease agreements that often feature built-in rent escalators, providing predictable cash flows. Additionally, Healthpeak frequently engages in selective development and redevelopment initiatives, bolstered by its in-depth industry research. This strategy not only enhances the value of its existing assets but also positions the company to capture future growth opportunities. By leveraging these comprehensive strategies, Healthpeak Properties not only sustains its financial health but fortifies its position as a leader in healthcare real estate.
Healthpeak Properties Inc. stands as a testament to strategic healthcare real estate investing. Originally founded in 1985, this real estate investment trust (REIT) has intricately woven its operations into the fabric of the American healthcare landscape. With an astute focus on three primary segments—life science, medical office, and senior housing—Healthpeak has carved a niche as a powerhouse, aligning its portfolio with national healthcare trends. Life science assets often see collaborations with research institutions and biotech firms, while its medical office properties support outpatient services across the country. Within senior housing, Healthpeak addresses the growing demand from an aging population, choosing investments that reflect both demographic shifts and the evolution of senior care solutions.
The company’s revenue streams are as diversified as its portfolio, which notably reduces risk while maximizing revenue potential. As a REIT, Healthpeak primarily derives income from leasing space within its properties to healthcare operators and providers. This model benefits from stable, long-term lease agreements that often feature built-in rent escalators, providing predictable cash flows. Additionally, Healthpeak frequently engages in selective development and redevelopment initiatives, bolstered by its in-depth industry research. This strategy not only enhances the value of its existing assets but also positions the company to capture future growth opportunities. By leveraging these comprehensive strategies, Healthpeak Properties not only sustains its financial health but fortifies its position as a leader in healthcare real estate.
2025 Results: Healthpeak finished 2025 with earnings in line with original guidance, supported by strong outpatient medical and senior housing performance.
Lab Headwinds: Life science (lab) segment saw occupancy drop, pulling down earnings, but management sees early signs of recovery and expects occupancy to improve in 2026.
Outpatient Strength: Outpatient medical segment benefited from sector tailwinds and the Physicians Realty Trust merger, delivering record new leasing and strong asset sale prices.
Senior Housing IPO: Healthpeak will spin out all senior housing assets into Janus Living via a planned IPO, aiming for a higher multiple and future growth participation.
2026 Guidance: FFO guidance set at $1.70–$1.74 per share, with total same-store NOI growth ranging from down 1% to up 1%, reflecting lab challenges and strong outpatient/senior housing.
Transaction Activity: Over $464 million in acquisitions so far in 2026, including full ownership of 19 senior housing communities and the Gateway lab campus.
Capital Recycling: Plans for $1 billion or more in asset sales and recapitalizations in 2026 to fund growth and acquisitions.
Balance Sheet: Ended 2025 with 5.2x net debt to EBITDA and $2.4 billion in liquidity, with $1.1 billion in refinancing scheduled for 2026.