Healthpeak Announces Transaction Activity Amounting $925 Million

Core Insights - Healthpeak Properties, Inc. announced transaction activity totaling approximately $925 million, highlighting progress in its capital allocation strategy [1][8] Acquisition Details - In December 2025 and January 2026, Healthpeak acquired a 1.4-million square-foot campus on Gateway Boulevard in South San Francisco for $600 million, which is currently about 60% occupied and has significant density potential [2][8] - This acquisition expands Healthpeak's footprint in South San Francisco to roughly 6.5 million square feet across 210 acres, reinforcing its leadership in the biotechnology submarket [2] Dispositions and Future Transactions - During Q4 2025, Healthpeak completed outpatient medical dispositions totaling about $325 million, covering approximately 834,000 square feet of fully stabilized assets [3][8] - The company is in various stages of negotiations for additional outpatient medical sales, recapitalizations, and loan repayments, which could yield proceeds of about $700 million or more [4] Strategic Focus - Healthpeak's strategy involves capitalizing on strong demand for outpatient medical real estate by selling fully stabilized assets at low-6% cap rates and reinvesting in strategic life science assets with low-6% going-in yields [4] - This approach allows the company to acquire irreplaceable assets at a significant discount to replacement cost while enhancing its submarket positioning [4]