Healthpeak prices $500 million in senior unsecured notes due 2033

DENVER - Healthpeak Properties, Inc. (NYSE:DOC), a $12.19 billion market cap healthcare REIT, announced Tuesday that its operating company has priced a $500 million public offering of 4.750% senior unsecured notes due 2033. The notes were priced at 99.178% of the principal amount.

The healthcare real estate investment trust, which boasts a strong current ratio of 4.01 and has maintained dividend payments for 41 consecutive years according to InvestingPro, expects to generate approximately $492.8 million in net proceeds from the offering after deducting underwriting discounts but before other fees and expenses.

According to the company’s statement, proceeds will be used to repay borrowings under its commercial paper program and for general corporate purposes, which may include debt repayment, working capital, acquisitions, development activities, and capital expenditures. The company has demonstrated solid growth with revenue increasing 15.91% over the last twelve months.

The notes will be senior unsecured obligations of Healthpeak OP, LLC and fully guaranteed by Healthpeak Properties, DOC DR Holdco, LLC, and DOC DR, LLC.

PNC Capital Markets LLC, J.P. Morgan Securities LLC, Credit Agricole Securities (USA) Inc., Truist Securities, Inc., and U.S. Bancorp Investments, Inc. are serving as joint book-running managers for the offering.

The transaction is expected to close on August 14, 2025, subject to customary closing conditions.

Healthpeak Properties is a fully integrated real estate investment trust that owns, operates, and develops real estate focused on healthcare discovery and delivery. The company is a member of the S&P 500 index.

The information in this article is based on a press release statement issued by the company.

In other recent news, Healthpeak Properties reported its second-quarter 2025 earnings, revealing mixed results. The company’s earnings per share (EPS) fell short of expectations at $0.05, compared to the forecasted $0.064, a miss of 21.88%. However, Healthpeak’s revenue slightly surpassed projections, totaling $694.35 million against the anticipated $689.32 million. Scotiabank downgraded Healthpeak Properties from Sector Outperform to Sector Perform, citing weak leasing performance and growing laboratory credit risk concerns. Meanwhile, KeyBanc maintained its Sector Weight rating on the company, highlighting ongoing lab occupancy issues affecting the healthcare REIT’s performance. Healthpeak also updated its "United States Federal Income Tax Considerations" section in its prospectus, as filed with the Securities and Exchange Commission. These developments reflect the company’s current challenges and adjustments in the healthcare real estate sector.

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