Company Overview
About Healthpeak Properties
Healthpeak Properties, Inc. is a Denver, Colorado-based healthcare real estate investment trust — publicly traded on the New York Stock Exchange (NYSE: DOC) as an S&P 500 Real Estate component — owning, operating, and developing healthcare-focused real estate including life science laboratory buildings (biopharmaceutical R&D facilities in South San Francisco, San Diego, Boston), medical office buildings (outpatient care facilities adjacent to major hospital campuses), and continuing care retirement communities through approximately 400 employees. In March 2024, Healthpeak Properties (then trading as HCP/PEAK) completed its $21 billion merger of equals with Physicians Realty Trust (DOC — medical office REIT with 300+ medical outpatient buildings in 30+ states) — adopting Physicians Realty Trust's ticker symbol "DOC" and creating a $21 billion combined healthcare REIT with 60+ million square feet of life science labs, 18+ million square feet of medical office, and the most diversified healthcare real estate portfolio among public healthcare REITs. CEO Scott Brinker leads the combined company's strategy of capitalizing on the structural demand drivers for healthcare real estate: life science lab demand driven by NIH funding, private biopharma venture investment, and drug approval tailwinds — and medical office demand driven by the shift of healthcare delivery from hospital inpatient settings to outpatient ambulatory care facilities that require real estate closer to patient populations. Healthpeak's life science portfolio in the three dominant biotech clusters (San Francisco Bay Area, San Diego's Torrey Pines/UTC corridor, Boston's Kendall Square/Route 128 corridor) positions it in the markets where biopharma and biotech tenants require Class A laboratory space for drug discovery and development.
Business Model & Competitive Advantage
Healthpeak's healthcare real estate model creates competitive advantages through the specialized laboratory design requirements and campus cluster effects of life science real estate: a biopharmaceutical company leasing 50,000 square feet of Healthpeak lab space in South San Francisco requires: clean room laboratory infrastructure (HVAC systems for BSL-2 containment, exhausted fume hoods, high-power electrical for imaging equipment), secure access control, and proximity to mission-critical talent and institutional partners (UCSF, Stanford) — specifications that a standard commercial office building cannot provide without $200-400/square foot of tenant improvement investment above standard office build-out costs. The life science cluster effect (Genentech, Roche, AstraZeneca, Merck, Pfizer, and 500+ smaller biotechs all concentrated in South San Francisco's Gateway campus and Oyster Point waterfront within 1 mile of Healthpeak's properties) creates proximity value that isolated laboratory buildings cannot match — scientists and business development professionals value walking distance to neighboring company offices for collaboration, talent recruitment, and partnership discussions. Healthpeak's medical office portfolio (outpatient facilities leased to health systems including HCA Healthcare, Ascension, and Banner Health adjacent to acute care hospitals) provides stable, long-term lease income (10-20 year initial terms) from healthcare providers who require real estate solutions adjacent to their hospital networks for procedural capacity and specialist physician office space.
Competitive Landscape 2025–2026
In 2025, Healthpeak competes in life science and medical office real estate against Alexandria Real Estate Equities (NYSE: ARE, the largest publicly traded life science REIT by square footage in the three major biotech clusters), Ventas (NYSE: VTR, senior housing and medical office REIT), and Welltower (NYSE: WELL, senior housing and outpatient medical) for life science tenant lease renewals and expansions, medical office building acquisition from health system sale-leaseback transactions, and new development leasing in biotech cluster markets. The life science real estate market underwent significant correction in 2023-2024: biotech venture funding decline (from $35B peak in 2021 to $20B in 2023) reduced new laboratory demand, leaving Healthpeak (and Alexandria) with elevated vacancy in some markets, particularly suburban clusters outside the core San Francisco/San Diego/Boston trio. The medical office segment provides earnings stability during life science market correction — long-term health system leases providing predictable NOI that offsets life science vacancy risk. The 2025 strategy focuses on Physicians Realty Trust merger integration synergy capture, life science portfolio occupancy recovery as biotech funding normalizes, and medical office acquisition from health system capital recycling programs.
The Healthpeak Properties Story
Founders
Company Timeline
Major milestones in Healthpeak Properties's journey
Leadership Team
Meet the leaders behind Healthpeak Properties
Scott Brinker
Scott Brinker serves as President and Chief Executive Officer of Healthpeak Properties, leading the company's strategic vision and operations. He has been instrumental in guiding the company through its transformation, including the landmark 2024 merger with Physicians Realty Trust that created a $21 billion combined entity and repositioned Healthpeak as one of the largest healthcare REITs in the United States.
Kathy Sandstrom
Ms. Kathy Sandstrom has served as Chairman of Healthpeak Properties since 2023, bringing extensive board governance experience and strategic oversight to the company. She provides leadership to the Board of Directors during a period of significant transformation and growth for Healthpeak.
John T. Thomas
Mr. John T. Thomas has been the Vice Chairman of Healthpeak Properties since 2024, supporting the Board's governance and strategic initiatives. His appointment coincided with the expansion of the Board from 8 to 13 directors following the Physicians Realty Trust merger.
Peter Scott
Peter Scott served as Healthpeak's Chief Financial Officer through early 2025, overseeing the company's financial strategy during a period of significant growth and the transformative merger with Physicians Realty Trust. He departed in April 2025 to assume the CEO role at Healthcare Realty Trust Incorporated, with Healthpeak naming an internal successor.
Shawn G. Johnston
Shawn G. Johnston serves as Executive Vice President and Chief Accounting Officer, responsible for Healthpeak's accounting operations, financial reporting, and compliance. He plays a critical role in maintaining the financial integrity and transparency of the company's operations.
Open Positions
Reddit Discussions
Key Differentiators
Market Leader
Healthpeak Properties is recognized as a market leader in the Real Estate & Property Tech sector, demonstrating strong industry presence and customer trust.
Enterprise Scale
With $21000M in revenue, Healthpeak Properties operates at enterprise scale with proven market validation.
Frequently Asked Questions
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