Healthpeak Properties Files 2024 10-K

TL;DR

Healthpeak Properties (PEAK) filed its 2024 10-K. All systems go.

AI Summary

Healthpeak Properties, Inc. filed its 2024 10-K on February 4, 2025, detailing its real estate investment trust operations. The company, formerly known as HCP, Inc. and Health Care Property Investors Inc., is headquartered in Denver, Colorado. The filing covers the fiscal year ending December 31, 2024.

Why It Matters

This filing provides a comprehensive overview of Healthpeak Properties' financial health and operational performance for the past fiscal year, crucial for investors and stakeholders to assess the company's current standing and future prospects.

Risk Assessment

Risk Level: low — This is a standard annual financial filing for a publicly traded company, providing routine disclosures.

Key Numbers

• 2024 — Fiscal Year (Reporting period for the 10-K filing.)
• 1231 — Fiscal Year End (Indicates the end date of the reporting period.)
• 20250204 — Filing Date (Date the 10-K was officially submitted to the SEC.)

Key Players & Entities

• HEALTHPEAK PROPERTIES, INC. (company) — Filer
• HCP, INC. (company) — Former Company Name
• HEALTH CARE PROPERTY INVESTORS INC (company) — Former Company Name
• DENVER (location) — Business Address City
• 0000765880 (company_id) — Central Index Key
• 20241231 (date) — Fiscal Year End
• 20250204 (date) — Filing Date

FAQ

Key Financial Figures

• $1.00 — ange on which registered Common Stock, $1.00 par value DOC New York Stock Exchange

Filing Documents

• peak-20241231.htm (10-K) — 8639KB
• ex41512312024.htm (EX-4.15) — 72KB
• ex1012712312024.htm (EX-10.12 7) — 61KB
• ex19112312024.htm (EX-19.1) — 117KB
• ex21112312024.htm (EX-21.1) — 701KB
• ex22112312024.htm (EX-22.1) — 5KB
• ex23112312024.htm (EX-23.1) — 4KB
• ex31112312024.htm (EX-31.1) — 11KB
• ex31212312024.htm (EX-31.2) — 11KB
• ex32112312024.htm (EX-32.1) — 6KB
• ex32212312024.htm (EX-32.2) — 6KB
• image_0.jpg (GRAPHIC) — 22KB
• peak-20241231_g1.jpg (GRAPHIC) — 104KB
• 0001628280-25-003748.txt ( ) — 42010KB
• peak-20241231.xsd (EX-101.SCH) — 308KB
• peak-20241231_cal.xml (EX-101.CAL) — 205KB
• peak-20241231_def.xml (EX-101.DEF) — 1248KB
• peak-20241231_lab.xml (EX-101.LAB) — 2285KB
• peak-20241231_pre.xml (EX-101.PRE) — 1674KB
• peak-20241231_htm.xml (XML) — 8986KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 14 Item 1B. Unresolved Staff Comments 38 Item 1C. Cybersecurity 38 Item 2.

Properties

Properties 39 Item 3.

Legal Proceedings

Legal Proceedings 42 Item 4. Mine Safety Disclosures 42 Part II 43 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 43 Item 6. [Reserved] 46 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 46 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 65 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 67 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 142 Item 9A.

Controls and Procedures

Controls and Procedures 142 Item 9B. Other Information 144 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 144 Part III 145 Item 10. Directors, Executive Officers and Corporate Governance 145 Item 11.

Executive Compensation

Executive Compensation 145 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 145 Item 13. Certain Relationships and Related Transactions, and Director Independence 145 Item 14. Principal Accountant Fees and Services 145 Part IV 146 Item 15. Exhibits and Financial Statement Schedules 146 Item 16. Form 10-K Summary 151

Signatures

Signatures 152 Table of Contents All references in this report to "Healthpeak," the "Company," "we," "us," or "our" mean Healthpeak Properties, Inc., together with its consolidated subsidiaries. Unless the context suggests otherwise, references to "Healthpeak Properties, Inc." mean the parent company without its subsidiaries. Cautionary Language Regarding Forward-Looking Statements Forward-looking statements are based on certain assumptions and analysis made in light of our experience and perception of historical trends, current conditions and expected future developments as well as other factors that we believe are appropriate under the circumstances. While forward-looking statements reflect our good faith belief

Business

ITEM 1. Business General Overview Healthpeak Properties, Inc. is a Standard & Poor's ("S&P") 500 company that owns, operates, and develops high-quality real estate focused on healthcare discovery and delivery in the United States ("U.S."). Our company was originally founded in 1985. In 2023, we completed our corporate reorganization (the "Reorganization") into an umbrella partnership REIT ("UPREIT"). We hold substantially all of our assets and conduct our operations through our operating subsidiary, Healthpeak OP, a consolidated subsidiary of which we are the managing member. We are a Maryland corporation and qualify as a self-administered REIT. We are headquartered in Denver, Colorado, with additional corporate offices in California, Tennessee, Wisconsin, and Massachusetts and property management offices in several locations throughout the U.S. We have a diversified portfolio of high-quality healthcare properties across three core asset classes of outpatient medical, lab, and continuing care retirement community ("CCRC") real estate. Under the outpatient medical and lab segments, we own, operate, and develop outpatient medical buildings, hospitals, and lab buildings. Under the CCRC segment, our properties are operated through RIDEA structures. We have other non-reportable segments that are comprised primarily of: (i) an interest in an unconsolidated joint venture that owns 19 senior housing assets (our "SWF SH JV") and (ii) loans receivable. These non-reportable segments have been p resented on a combined basis herein. The Merger On March 1, 2024 (the "Closing Date"), pursuant to the Agreement and Plan of Merger dated October 29, 2023 (the "Merger Agreement"), by and among us, DOC DR Holdco, LLC, one of our wholly owned subsidiaries ("DOC DR Holdco"), DOC DR, LLC, a wholly owned subsidiary of Healthpeak OP ("DOC DR OP Sub"), Physicians Realty Trust, Physicians Realty L.P. (the "Physicians Partnership"): (i) Physicians Realty Trust merged with and into DOC DR

View Full Filing

View this 10-K filing on SEC EDGAR