Healthpeak Properties
Corporate brand
UnclaimedHealthpeak Properties is a U.S. real estate investment trust focused on senior housing, life science facilities, and medical office properties.
Last updated August 26, 2026
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Overview
Healthpeak Properties, Inc. is an American real estate investment trust whose portfolio is centered on specialized properties used by the health-care and life-science sectors. Its principal investment areas are senior housing, life science laboratories, and medical office buildings. Rather than operating as a conventional consumer-facing brand, Healthpeak functions as an institutional real-estate platform: it owns or holds interests in properties, forms joint ventures with operating and financial partners, and seeks rental income and long-term asset appreciation from facilities linked to demographic, clinical, and research demand. The company was established in May 1985 under the name Health Care Property Investors, Inc. It became publicly traded through an initial public offering during the same year. Its early identity was tied closely to health-care real estate, particularly properties serving care providers and senior populations. In September 2007, the company adopted the shorter corporate name HCP, Inc., reflecting a broader and more modernized corporate identity while retaining its specialization in health-care property investment. A significant portfolio change occurred in October 2016, when the company completed the spin-off of Quality Care Properties. The transaction separated a group of assets associated with post-acute and long-term-care real estate from the parent company, allowing the remaining business to concentrate more directly on its selected health-care property segments. The company also used joint ventures and portfolio transactions to reshape its exposure to senior housing. In October 2019, it restructured a joint venture with Brookdale Senior Living: HCP acquired Brookdale's 51 percent interest in 12 properties for $510 million, while Brookdale acquired 18 properties from HCP for $405 million. The exchange changed ownership and operating relationships across the portfolio rather than representing a simple one-way acquisition. In November 2019, HCP changed its name to Healthpeak Properties, Inc. The new name emphasized a broader platform spanning health-care real estate, life sciences, and medical offices rather than a narrower association with a historical corporate name. In November 2020, the company announced plans to relocate its headquarters from California to Denver, reflecting an evolution in its corporate footprint. Healthpeak continued to expand through mergers and asset-level investments. In March 2024, it acquired Physicians Realty Trust, strengthening its medical office platform and increasing its exposure to outpatient health-care facilities. The company also pursued development and partnership activity in life-science and medical-office real estate. Reference material identifies plans announced in March 2026 for a mixed-use development in Cambridge, Massachusetts, as well as a July 2026 transaction involving the sale of a 49 percent interest in a portfolio of outpatient medical buildings to Brookfield Asset Management. These transactions illustrate Healthpeak's use of joint ownership and capital recycling to manage large property portfolios. As of December 31, 2025, the company was reported to own interests in 689 properties. Its current positioning is therefore that of a focused health-care real estate owner and capital partner, with business exposure to senior housing, laboratory and research space, and outpatient medical facilities. Its performance depends on property occupancy, tenant and operator strength, health-care demand, development execution, financing conditions, interest rates, and the value of specialized real estate.
History
Healthpeak Properties traces its origins to May 1985, when it was established as Health Care Property Investors, Inc. The company entered the public markets through an initial public offering in the same year. Its original business was built around health-care real estate, an investment category that allowed institutional capital to participate in properties used by care providers, senior populations, and other health-related tenants. In September 2007, the company changed its name to HCP, Inc. The renaming marked a transition away from its longer founding name while preserving its health-care real estate orientation. HCP subsequently adjusted its portfolio through corporate separations, joint ventures, and property transactions. In October 2016, it completed the spin-off of Quality Care Properties, separating a portion of the portfolio and allowing the remaining company to focus its capital and operating strategy on selected health-care property segments. The company’s senior-housing exposure was reshaped through a 2019 transaction with Brookdale Senior Living. In October of that year, HCP acquired Brookdale’s 51 percent interest in 12 properties for $510 million, while Brookdale acquired 18 properties from HCP for $405 million. The arrangement changed the ownership structure of multiple assets and demonstrated the company’s use of negotiated portfolio exchanges and joint-venture restructuring. In November 2019, HCP adopted the name Healthpeak Properties, Inc. The new identity was intended to represent a platform extending across senior housing, life-science laboratories, and medical office buildings. In November 2020, Healthpeak announced plans to relocate its headquarters from California to Denver. The company continued developing its medical-office presence and in March 2024 acquired Physicians Realty Trust. This transaction strengthened its position in outpatient and physician-oriented medical real estate. Healthpeak’s broader strategy also includes development, ownership interests, and partnerships rather than only wholly owned stabilized properties. Life-science campuses and medical-office portfolios provide exposure to research, clinical, and outpatient trends, while senior housing links the company to aging demographics and the need for residential care services. Reference material describes additional activity in 2026. In March, Healthpeak sold a minority interest in Janus Senior Living and began plans for a reported $4.5 billion, 4.6-million-square-foot mixed-use development in Cambridge, Massachusetts. In July, it sold a 49 percent interest in a reported $2.1 billion portfolio of outpatient medical buildings to Brookfield Asset Management. These transactions indicate continued use of capital recycling, minority partnerships, and large-scale development to manage risk and expand the platform. As of December 31, 2025, Healthpeak was reported to own interests in 689 properties. The company’s history is therefore characterized by specialization in health-care real estate, periodic corporate rebranding, portfolio separation, acquisitions, joint-venture restructuring, and a gradual broadening into life-science and outpatient medical facilities.
- 2026
Cambridge development and Janus transaction
[1]The company sold a minority interest in Janus Senior Living and began planning a large mixed-use development in Cambridge, Massachusetts.
- 2026
Brookfield outpatient portfolio transaction
[1]Healthpeak sold Brookfield Asset Management a 49 percent interest in a portfolio of outpatient medical buildings.
- 2025
Portfolio reported at 689 properties
[1]As of December 31, Healthpeak was reported to own interests in 689 properties.
- 2024
Physicians Realty Trust acquisition
[1]Healthpeak acquired Physicians Realty Trust, expanding its medical-office and outpatient real estate holdings.
- 2020
Headquarters relocation announced
[1]Healthpeak announced a move of its headquarters from California to Denver.
- 2019
Brookdale portfolio restructuring
[1]HCP and Brookdale exchanged interests in multiple senior-housing properties and restructured their joint venture.
- 2019
Healthpeak name adopted
[1]HCP changed its name to Healthpeak Properties, Inc.
- 2016
Quality Care Properties spin-off
[1]The company completed the spin-off of Quality Care Properties.
- 2007
Name changed to HCP, Inc.
[1]The company adopted the shorter HCP, Inc. name.
- 1985
Company founded and listed
[1]Health Care Property Investors, Inc. was founded in May and became a public company through an initial public offering during the year.
Products and positioning
A specialized U.S. health-care real estate investment trust focused on owning, developing, and partnering around properties that support senior living, medical care, outpatient services, and life-science research.
Senior housing real estate
Senior housing properties
Healthpeak invests in real estate used for senior living and related care services. Its exposure may be held directly or through partnerships with senior-housing operators. The segment connects the company to aging-population trends, operator performance, occupancy levels, and the changing mix of independent living, assisted living, and care-oriented uses.
Life-science real estate
Life science laboratories
The life-science platform consists of laboratory, research, and related campus space used by biotechnology, pharmaceutical, medical-research, and adjacent organizations. These properties are specialized assets requiring appropriate technical infrastructure and locations near research institutions, making development quality, tenant demand, and market concentration important aspects of the offering.
Medical office real estate
Medical office buildings
Healthpeak owns and invests in medical office buildings occupied by physicians, health systems, and other outpatient providers. These facilities support clinical services outside traditional acute-care hospitals and can provide recurring rental income from health-care tenants. The company expanded this platform through its acquisition of Physicians Realty Trust in 2024.
Outpatient health-care real estate
Outpatient medical facilities
Outpatient properties form a major part of Healthpeak’s medical-office strategy. They include facilities designed for scheduled procedures, physician services, diagnostics, and other ambulatory care. The company can own these properties outright or use minority interests and joint ventures, including the reported 2026 transaction involving a portfolio sold in part to Brookfield Asset Management.
Brand decisions
2026
Cambridge mixed-use development plansStrategyBackground
Healthpeak identified Cambridge, Massachusetts, as a location for a large-scale mixed-use project connected to its specialized real estate strategy.
Action taken
The company began plans for a reported 4.6-million-square-foot development with an estimated value of $4.5 billion.
Aftermath
The project represented a significant prospective expansion of the company's development pipeline.
Estimated development value and size. $4.5 billion and 4.6 million square feet (March 2026)
2026
Sale of minority interest in Janus Senior LivingM&ABackground
Healthpeak continued to adjust its senior-housing ownership interests and recycle capital.
Action taken
It sold a minority interest in Janus Senior Living in March 2026.
Aftermath
The transaction reduced Healthpeak's ownership exposure to the investment while retaining no stated level of control in the available material.
2026
Sale of minority interest in outpatient medical buildingsM&ABackground
Healthpeak used a partnership transaction to share ownership and capital requirements associated with a large outpatient medical-building portfolio.
Action taken
It sold Brookfield Asset Management a 49 percent interest in a reported $2.1 billion portfolio in July 2026.
Aftermath
The transaction created a shared-ownership structure for the portfolio and released part of the capital previously tied to the assets.
Portfolio value and interest sold. 49 percent interest in a reported $2.1 billion portfolio (July 2026)
2024
Acquisition of Physicians Realty TrustM&ABackground
Healthpeak pursued greater scale and exposure in medical-office and outpatient health-care real estate.
Action taken
It acquired Physicians Realty Trust in March 2024.
Aftermath
The acquisition expanded Healthpeak's medical-office platform.
2019
Brookdale joint-venture restructuringM&ABackground
HCP and Brookdale Senior Living adjusted their ownership positions across a group of senior-housing properties.
Action taken
HCP acquired Brookdale’s 51 percent interest in 12 properties for $510 million, while Brookdale acquired 18 properties from HCP for $405 million.
Aftermath
The exchange revised the ownership and partnership structure of the senior-housing portfolio.
Property transaction consideration. $510 million paid by HCP for Brookdale's interest in 12 properties; $405 million paid by Brookdale for 18 properties (October 2019)
2019
Corporate rebrand to Healthpeak PropertiesStrategyBackground
The historical HCP name was narrower than the company's expanding focus across health-care, life-science, and medical-office real estate.
Action taken
The company changed its name to Healthpeak Properties, Inc. in November 2019.
Aftermath
The Healthpeak identity became the public-facing name for the broader specialized real estate platform.
2016
Spin-off of Quality Care PropertiesStrategyBackground
The company sought to separate a portion of its health-care real estate portfolio and clarify the assets retained by the parent.
Action taken
It completed the spin-off of Quality Care Properties in October 2016.
Aftermath
The transaction left the remaining company with a more focused portfolio and investment strategy.
Recent events
Reported
Healthpeak appoints Sara Grootwassink Lewis to its board[2]
Healthpeak announced Sara Grootwassink Lewis’s appointment as an independent director to its board, effective immediately.
Reported
Healthpeak announces leadership promotions[3]
Healthpeak announced leadership promotions, including Scott Brinker to President and Chief Investment Officer, effective January 1, 2020, and additional promotions with varying effective dates.
Reported
HCP changes its name to Healthpeak Properties[3]
HCP, Inc. announced that it had changed its name to Healthpeak Properties, Inc., effective October 30, 2019. Its stock was expected to begin trading under the new name and ticker on November 5, 2019.
Reported
Brookdale agrees to acquire 18 communities from HCP[4]
Brookdale Senior Living agreed to acquire 18 triple-net leased communities from HCP for $405 million. The transaction was announced but was expected to close in the first quarter of the following year.
Reported
Brookdale agrees to sell its interest in a joint venture to HCP[4]
HCP agreed to buy Brookdale's interest in a joint venture holding 12 entry-fee continuing care retirement communities for $277 million in net proceeds. The transaction was announced but was expected to close in the first quarter of the following year.
Sources4 sources
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