Healthpeak Properties, Inc. · NYSE:DOC
Healthpeak Properties — Corporate Update (April 2020)
13 slides from Healthpeak Properties's corporate update, Apr 7, 2020
Slide 1: Perspectives and Observations on COVID-19 Impact
Perspectives and Observations on COVID - 19 Impact April 7, 2020 35 CambridgePark Drive Boston, MA
Slide 2: Introduction
Introduction ■ The COVID - 19 pandemic and global economic crisis continue to evolve rapidly. The purpose of this presentation is to provide our current observations and perspectives on each of our three core business segments, along with an update on development and our balance sheet and liquidity.
Slide 3: Life Science – Portfolio Observations
Life Science (31% of NOI) (1) – Portfolio Observations 3 ■ Acquisition: On April 1, closed on the previously announced $320M acquisition of The Post, a 426K sq. ft. life science and innovation asse t in the Route 128 submarket of Boston, which expands our life science holdings in the Boston region.
Slide 4: Medical Office – Portfolio Observations
Medical Office (29% of NOI) – Portfolio Observations 4 ■ Impact on operations varies by market: □ Many physician practices have discontinued nonessential surgeries and procedures, which has negatively impacted their cash fl ows . Accordingly, we have received requests for rent relief from many of ou
Slide 5: Senior Housing – Portfolio Observations
Senior Housing (34% of NOI) – Portfolio Observations 5 ■ Occupancy: Total blended occupancy in our SHOP and CCRC portfolio was 83.8% on February 29, 83.7% on March 15, and 83.4% on March 31. Move - ins were in line with our expectations through mid - March. Thereafter , move - ins declined in respon
Slide 6: Senior Housing – Potential Future Impact
Senior Housing – Potential Future COVID - 19 Impact 6 SHOP (15% of NOI) CCRC (12% of NOI ) NNN (7% of NOI ) Improving Performance / Declining Performance ■ Lower occupancy and higher expenses will reduce EBITDAR coverages ■ In limited circumstances we may defer certain operator rent payments ■ Occup
Slide 7: Development Update
Development Update 7 ■ General Healthpeak overview : We expect 2020 construction spend to decline versus previous expectations due to delays in projects from slowdowns in permitting, inspections and mandated construction shutdowns which vary by jurisdiction . □ In general, under “ Shelter in Place”
Slide 8: Unsecured Credit Facility Overview
Leverage Ratio: 38% (maximum 60%) Secured Debt Ratio: 4% (maximum 40%) Fixed Charge Coverage Ratio: 4.0x (minimum 1.5x) Unsecured Leverage Ratio: 42% (maximum 60%) Consolidated Tangible Net Worth: $10B (minimum $7B ) Unsecured Credit Facility Overview (“Revolver”) 8 ■ As of March 31, 2020, and pro f
Slide 9: Balance Sheet and Transaction Activity Update
Balance Sheet and Transaction Activity Update (1) Excludes sale of 18 NNN assets related to the Brookdale Transaction. (2) Primarily consists of The Post which closed on 4/1/20 for $320M. Excludes purchase of 51% interest in 13 CCRCs related to the Brookdale Transaction, which closed in January 2020
Slide 10: Appendix
Appendix Medical City Dallas Dallas, TX
Slide 11: Pro-Forma Portfolio Income (NOI)
Pro - Forma Portfolio Income (“NOI”) Fourth Quarter 2019 Portfolio Income 11 (1) Portfolio Income is presented by business line. For a Regulation G reconciliation of Portfolio Income, see our fourth quarter 2019 Discussion and Reconciliation of Non - GAAP Financi al Measures, which is available on o
Slide 12: Disclaimers
Disclaimers This Healthpeak Properties, Inc . (the “Company”) presentation is solely for your information, is subject to change and speaks only as of the date hereof . This presentation is not complete and is only a summary of the more detailed information included elsewhere, including in our Securi
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