Healthpeak Properties Enters Material Definitive Agreement

TL;DR

Healthpeak Properties just signed a big deal, could be debt or something else.

AI Summary

On December 9, 2024, Healthpeak Properties, Inc. entered into a material definitive agreement related to a financial obligation. The company, formerly known as HCP, Inc. and Health Care Property Investors Inc., is a real estate investment trust based in Denver, Colorado.

Why It Matters

This filing indicates a significant financial transaction or commitment by Healthpeak Properties, which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements can involve significant financial commitments or obligations, the details of which are not fully disclosed in this initial filing.

Key Players & Entities

• Healthpeak Properties, Inc. (company) — Registrant
• HCP, Inc. (company) — Former Company Name
• Health Care Property Investors Inc (company) — Former Company Name
• December 9, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $1.00 — nge on which registered Common Stock, $1.00 par value DOC New York Stock Exchange
• $3.0 billion — rtain other amendments to the Company's $3.0 billion senior unsecured revolving credit facil
• $3.75 billion — ased, at the Company's option, to up to $3.75 billion by increasing the amount of the Revolvi
• $100 million — reement includes sublimits of (i) up to $100 million for letters of credit issued under the
• $1.0 billion — nder the Revolving Facility, (ii) up to $1.0 billion for loans and other extensions of credi
• $7.7 b — imum Consolidated Tangible Net Worth of $7.7 billion, in each case, tested on a quarte

Filing Documents

• tm2430417d1_8k.htm (8-K) — 44KB
• tm2430417d1_ex10-1.htm (EX-10.1) — 1089KB
• tm2430417d1_ex10-2.htm (EX-10.2) — 977KB
• tm2430417d1_ex10-3.htm (EX-10.3) — 972KB
• tm2430417d1_ex99-1.htm (EX-99.1) — 4KB
• tm2430417d1_ex99-1img001.jpg (GRAPHIC) — 6KB
• 0001104659-24-126775.txt ( ) — 3892KB
• hcp-20241209.xsd (EX-101.SCH) — 3KB
• hcp-20241209_lab.xml (EX-101.LAB) — 33KB
• hcp-20241209_pre.xml (EX-101.PRE) — 22KB
• tm2430417d1_8k_htm.xml (XML) — 4KB

01

Item 1.01 Entry into a Material Definitive Agreement Recast of Revolving Facility On December 9, 2024 (the "Closing Date"), Healthpeak Properties, Inc., a Maryland corporation ("Healthpeak") announced that its operating company, Healthpeak OP, LLC, a Maryland limited liability company ("Healthpeak OP," and together with Healthpeak, the "Company") entered into a Third Amended and Restated Credit Agreement (the "Amended Revolving Credit Agreement"), by and among Healthpeak OP, as borrower, Healthpeak, as the parent company guarantor, DOC DR Holdco, LLC, a Maryland limited liability company and subsidiary of Healthpeak OP ("DOC Holdco") and DOC DR, LLC, a Maryland limited liability company and indirect subsidiary of Healthpeak OP ("DOC DR"), each as subsidiary guarantors, the lenders referred to therein, and Bank of America, N.A., as administrative agent (the "Administrative Agent"). The Amended Revolving Credit Agreement extends the maturity of and makes certain other amendments to the Company's $3.0 billion senior unsecured revolving credit facility (such facility, as amended, the "Revolving Facility"). The Amended Revolving Credit Agreement amends and restates in its entirety that certain Second Amended and Restated Credit Agreement, dated as of September 20, 2021 (as amended or otherwise modified from time to time prior to the Closing Date) by and among the Company, DOC Holdco, DOC DR, the lenders referred to therein and the Administrative Agent (the "Existing Revolving Credit Agreement"). Consistent with the Existing Revolving Credit Agreement, aggregate borrowing capacity under the Amended Revolving Credit Agreement may be increased, at the Company's option, to up to $3.75 billion by increasing the amount of the Revolving Facility and/or by incurring one or more term loans, in each case, so long as no default or event of default exists and other customary conditions have been satisfied. Any such increase will be syndicated on a best efforts basis and no len

03

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information included in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

01

Item 7.01 Regulation FD Disclosure. On December 9, 2024, the Company issued a press release announcing the closing of the Amended Credit Agreements. The text of the press release is furnished herewith as Exhibit 99.1 and is incorporated by reference into this Item 7.01. The information set forth in this Item 7.01 and the related information in Exhibit 99.1 attached hereto are being furnished, and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section and shall not be incorporated by reference in any filing with the U.S. Securities and Exchange Commission under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference therein.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits . No. Description 10.1* Third Amended and Restated Credit Agreement, dated as of December 9, 2024, by and among Healthpeak OP, as borrower, Healthpeak, DOC Holdco and DOC DR, as guarantors, the lenders referred to therein, and Bank of America, N.A., as administrative agent. 10.2* Amendment No. 3 to Term Loan Agreement, dated as of December 9, 2024, by and among Healthpeak OP, as borrower, Healthpeak, DOC Holdco and DOC DR, as guarantors, the lenders referred to therein, and Bank of America, N.A., as administrative agent. 10.3* Fourth Amendment to Third Amended and Restated Credit Agreement, dated as of December 9, 2024, by and among DOC DR, as borrower, Healthpeak, Healthpeak OP and DOC Holdco, as guarantors, the lenders referred to therein, and KeyBank National Association, as administrative agent. 99.1 Press Release dated December 9, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). *Certain schedules and exhibits have been omitted from this filing pursuant to Item 601(a)(5) of Regulation S-K. The Company agrees to furnish supplementally a copy of any omitted schedule or exhibit to the Securities and Exchange Commission upon request. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: December 9, 2024 Healthpeak Properties, Inc. By: /s/ Peter A. Scott Peter A. Scott Chief Financial Officer

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View this 8-K filing on SEC EDGAR