# Healthpeak Properties

**Source:** https://geo.sig.ai/brands/healthpeak-properties  
**Vertical:** Real Estate & Property Tech  
**Subcategory:** Enterprise  
**Tier:** Leader  
**Website:** healthpeak-properties.com  
**Last Updated:** 2026-04-14

## Summary

Denver healthcare REIT (NYSE: DOC) $21B combined; Healthpeak + Physicians Realty Trust merger Mar 2024, life science labs (SF/SD/Boston) + 300+ MOBs, competing with Alexandria Real Estate and Ventas.

## Company Overview

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.

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.

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.

## Frequently Asked Questions

### What does Healthpeak Properties do?
Healthpeak Properties is a fully integrated real estate investment trust (REIT) and S&P 500 company that owns, operates, and develops high-quality healthcare real estate focused on discovery and delivery. The company manages a diversified portfolio of approximately 700 properties totaling nearly 50 million square feet across three core asset classes: outpatient medical buildings, life science facilities, and continuing care retirement communities.

### When was Healthpeak Properties founded?
Healthpeak Properties was founded in March 1985 as Health Care Property Investors, Inc., a real estate investment trust organized in Maryland. The company went public through an IPO in 1985 with an initial portfolio of two acute care hospitals and 22 skilled nursing facilities. It has undergone several rebrandings, becoming HCP in 2007, Healthpeak Properties in 2019, and adopting the ticker symbol DOC in 2024 following its merger with Physicians Realty Trust.

### Where is Healthpeak Properties headquartered?
Healthpeak Properties is headquartered in Denver, Colorado, a location the company selected in November 2020. The company also maintains offices in Irvine, California; Nashville, Tennessee; and San Francisco, California to support its nationwide portfolio of healthcare properties.

### Who are Healthpeak Properties' customers?
Healthpeak's customers include a wide range of healthcare sector participants: healthcare providers and hospital systems leasing outpatient medical buildings, biotechnology companies, medical device manufacturers, pharmaceutical companies, scientific research institutions, government agencies utilizing life science facilities, and senior living operators managing continuing care retirement communities. The company serves tenants through long-term triple-net leases.

### What was the significance of the Physicians Realty Trust merger?
In March 2024, Healthpeak completed an all-stock merger with Physicians Realty Trust valued at approximately $21 billion, creating one of the largest healthcare REITs in the United States. The merger combined portfolios to create nearly 50 million square feet of healthcare properties, generated approximately $50 million in merger-related synergies in 2024, expanded the Board from 8 to 13 directors, and led to a ticker symbol change from PEAK to DOC, emphasizing the company's healthcare focus.

### What makes Healthpeak Properties different from other REITs?
Healthpeak distinguishes itself through its exclusive focus on healthcare real estate, strategic concentration in three high-growth segments (outpatient medical, life science, and senior housing), scale advantages with approximately 700 properties and unique relationships with major healthcare systems, aggressive internalization of property management to enhance operations, strong financial performance with $2.7 billion in 2024 revenue (23.82% growth), and record leasing activity exceeding 8 million square feet in 2024.

### What is Healthpeak Properties' market position?
Healthpeak Properties is a S&P 500 company and one of the largest healthcare-focused REITs in the United States with a market capitalization of approximately $14.9 billion as of late 2024. Following its merger with Physicians Realty Trust, Healthpeak became one of the largest owners and operators of medical office buildings nationwide, with a portfolio of approximately 700 properties totaling nearly 50 million square feet.

### How does Healthpeak Properties generate revenue?
Healthpeak generates revenue primarily through long-term triple-net leases with healthcare providers, research institutions, and life science companies. Under these lease structures, tenants are responsible for most operating expenses including property taxes, insurance, and maintenance, providing Healthpeak with stable, predictable cash flows. The company also generates income through development loans, property management services, and strategic value-added services to healthcare tenants.

### What are Healthpeak Properties' recent financial results?
For full-year 2024, Healthpeak reported annual revenue of $2.7 billion, representing a 23.82% increase from 2023. The company achieved Total Same-Store Portfolio Cash NOI growth of 5.4%, fourth quarter Nareit FFO of $0.44 per share, FFO as Adjusted of $0.46 per share, and AFFO of $0.40 per share. In February 2025, the Board declared a 1.7% dividend increase to $0.305 per share quarterly.

### Is Healthpeak Properties hiring?
Healthpeak Properties maintains a team of 387 employees and periodically hires for roles in property management, asset management, finance, development, leasing, and corporate functions. The company is Great Place To Work certified and has been recognized on the Bloomberg Gender-Equality Index for four consecutive years. Career opportunities can be found on the company's website or through major job boards.

### What is Healthpeak Properties' growth strategy?
Healthpeak's growth strategy focuses on strategic acquisitions in high-quality healthcare markets, aggressive internalization of property management (nearly 20 million square feet in 2024 with plans for 14 million more in 2025), active development and redevelopment pipeline, strategic partnerships like the Hines collaboration for Cambridge Point residential development, and disciplined capital allocation balanced with consistent dividend growth to deliver shareholder value.

### How can I contact Healthpeak Properties?
Healthpeak Properties can be reached through its headquarters in Denver, Colorado, or via the company website at healthpeak.com. For investor relations inquiries, the company maintains a dedicated investor relations team accessible through their website at ir.healthpeak.com. The company also has offices in Irvine, Nashville, and San Francisco to support its nationwide operations.

## Tags

b2b, north-america, proptech, public, saas

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*Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*