**Healthpeak Properties Reports Year-End Financial Results and Strategic Updates**

Healthpeak Properties, Inc., a S&P 500 company focused on healthcare real estate, reported its financial results for the year ended December 31, 2025. The company's adjusted net operating income (NOI) for its outpatient medical segment was $795.8 million, while the lab segment generated $567.4 million in adjusted NOI. The senior housing segment contributed $176.7 million in adjusted NOI. The company's portfolio of investments at the end of 2025 included 507 outpatient medical properties, 145 lab properties, and 34 senior housing properties.

Compared to the previous fiscal year, Healthpeak experienced several significant changes. Net income applicable to common shares decreased, primarily due to other-than-temporary impairment charges on certain lab unconsolidated joint ventures and a decrease in gain on sales of real estate. This was partially offset by an increase in adjusted NOI from the outpatient medical and lab segments, driven by acquisitions and development projects. The company also noted an increase in adjusted NOI from its senior housing segment, attributed to increased rates for resident fees and higher occupancy.

Strategic developments during the year included the completion of the Gateway Crossing acquisition, expanding the company's lab portfolio in South San Francisco. Healthpeak also continued its development and redevelopment activities, placing several projects in service across its outpatient medical and lab segments. In terms of financing, the company issued $500 million in senior unsecured notes due 2035 and another $500 million in senior unsecured notes due 2033, while also repaying $348 million and $452 million in senior unsecured notes at maturity. The company repurchased 5.09 million shares of its common stock for $94 million.

Key operational developments included average occupancy rates of 92% for outpatient medical, 95% for lab, and 87% for senior housing. Average annual rent per square foot increased to $38 for outpatient medical and $90 for lab properties. The company also highlighted its ongoing commitment to sustainability and corporate impact initiatives, including achieving new LEED and ENERGY STAR certifications. As of December 31, 2025, Healthpeak employed 411 full-time employees and emphasized its focus on human capital management, including inclusion, engagement, training, and wellness programs.

Looking ahead, Healthpeak is planning to spin off its senior housing portfolio into a new REIT, Janus Living, Inc., with an initial public offering expected in the first half of 2026, subject to market conditions and regulatory approvals. The company expects to retain a substantial majority interest in Janus Living and serve as its external manager. This strategic move is aimed at optimizing the value of Healthpeak's assets and focusing on its core healthcare discovery and delivery segments.

About HEALTHPEAK PROPERTIES, INC.

Healthpeak Properties, Inc. is a real estate investment trust specializing in healthcare properties, including outpatient medical buildings, laboratories, and senior living communities. It owns, operates, and develops high-quality assets across the U.S., serving healthcare providers, biotech firms, and senior residents. The company leverages long-term leases, strategic partnerships, and a diversified portfolio to deliver risk-adjusted returns and support healthcare discovery and delivery.

This description was generated via AI from an annual report. Updated 8 months ago.

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