Healthpeak Properties, Inc. · NYSE:DOC
Healthpeak Properties — HCP — Bank of America 38th Annual Investment Conference 2008
14 slides from Healthpeak Properties's conference presentation, Sep 17, 2008
Slide 1: Bank of America 38th Annual Investment Conference September 2008
Bank of America 38th Annual Investment Conference September 2008 South San Francisco, CA Dallas, TX Sugar Land, TX Walnut Creek, CA
Slide 2: Forward-looking Statements
1 Forward-looking Statements Some of the statements in this presentation may be “forward-looking statements” and HCP intends such forward-looking statements to be covered by the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. Investors are cautioned that, wh
Slide 3: Company Overview and 2008 Performance
2 Achieved de-levering commitment Over $500 million from asset dispositions $1.3 billion from capital markets(2) Executing life science lease-up and development Tenet hospital portfolio restructured Repositioning Sunrise portfolio Solid financial metrics 2008 FFO payout ratio: 80% - 85%(3) 47% lever
Slide 4: HCP's Strategic Transformation
3 (1) Amounts are reflected as originally reported. (2) As of and for the six months ended June 30, 2008, unless it is otherwise indicated. (3) Based on the historical cost of real estate owned by HCP, the carrying amount of mortgage loans and 100% of the cost of real estate owned by unconsolidated
Slide 5: Younger Assets in More Attractive Sectors
4 Younger Assets in More Attractive Sectors Comparatively Younger Assets Predominantly Private Pay Acuity Lower Higher MOB A/L CCRC I/L State Gov’t Reimbursement Risk Higher Lower Life Science Portfolio Quality Mix at 90% 83% of HCP portfolio Asset Age Younger Older 09/30/02 SEUSA 08/01/07 CRP 10/05
Slide 6: Diversified Portfolio - $13 Billion of Assets Under Management
5 Other Senior Housing 23% Sunrise Senior Housing 17% MOB 22% Life Science 21% Hospital 8% Skilled Nursing 9% HCP Portfolio Diversification (1) Represents the historical cost of real estate owned by HCP, the carrying amount of debt investments and 100% of the cost of real estate owned by unconsolida
Slide 7: HCP's "5 x 5" Business Model
6 HCP’s “5 x 5” Business Model Unique Investment Model Creates New Growth Drivers and Flexible Capital Deployment (1) Represents the historical cost of real estate owned by HCP, the carrying amount of debt investments and 100% of the cost of real estate owned by unconsolidated joint ventures as of J
Slide 8: Demographics Driving Healthcare Real Estate Demand
7 Demographics Driving Healthcare Real Estate Demand 0% 5% 10% 15% 20% 25% 1980 1990 2000 2010 2020 2030 2040 2050 % of Total U.S. Population 0 20 40 60 80 100 Populations in Millions % 65-74 % 75-84 % 85+ 65+ Population 10% 13% 16% 19% 22% 1990 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 % of
Slide 9: HCP: Premier Partner for Healthcare Real Estate
8 HCP: Premier Partner for Healthcare Real Estate Currently Outstanding $2 billion Institutional Joint Ventures Medical City Dallas $ 350 million Medical Office 390 million Senior Housing 260 million Total $1 billion DownREIT Transactions Note: Amounts for downREIT transactions represent the investm
Slide 10: Appendix
i | HCP Appendix
Slide 11: Reconciliation of Net Income and Funds From Operations (FFO)
10 Reconciliation of Net Income and Funds From Operations (“FFO”) (Dollars in thousands except per share data) Six months ended Year ended June 30, 2008 December 31, 2002 Net income applicable to common shares $ 272,141 $ 112,480 Real estate depreciation and amortization 162,046 75,722 (Gain) loss o
Slide 12: Reporting Definitions
11 Reporting Definitions Annualized Revenues. The most recent monthly base rent due to HCP as of period end annualized for twelve months plus additional rents received by HCP over the most recent twelve month period as of period end. The Company uses Annualized Revenues for purposes of measuring rel
Slide 13: Reporting Definitions (cont'd)
12 Reporting Definitions (cont’d) Financial Leverage. Total Debt divided by Total Gross Assets. The Company believes that its Financial Leverage is a meaningful supplemental measure of its financial position, which enables both management and investors to analyze its leverage and to compare its leve
Slide 14: Reporting Definitions (cont'd)
13 Reporting Definitions (cont’d) FFO Payout Ratio per Common Share. Dividends declared per common share divided by Diluted FFO per common share for a given period. The Company believes the FFO Payout Ratio per Common Share provides investors relevant and useful information because it measures the p
HCP — Bank of America 38th Annual Investment Conference 2008 on 6ix