Healthpeak Properties, Inc. · NYSE:DOC
Healthpeak Properties — Merger or Acquisition (October 2023)
16 slides from Healthpeak Properties's merger presentation, Oct 30, 2023
Slide 1: All-Stock Merger of Equals
October 30, 2023 HonorHealth - Neuroscience Institute Scottsdale, AZ All-Stock Merger of Equals
Slide 2: Disclaimers
Disclaimers 2 FORWARD LOOKING STATEMENTS This communication may include “forward-looking statements,” including but not limited to those regarding the proposed transactions between Healthpeak Properties, Inc. (Healthpeak) and Physicians Realty Trust (Physicians Realty Trust), within the meaning of t
Slide 3: Transaction Overview
Transaction Overview 3 Transaction Detail All-stock merger of equals between Healthpeak Properties, Inc. (“Healthpeak”) and Physicians Realty Trust (“DOC”) DOC shareholders to receive 0.674 newly issued Healthpeak stock for each share of DOC stock Ownership of the Combined Company comprised of 77% f
Slide 4: Transaction Rationale
Transaction Rationale 4 Creates the pre-eminent owner, operator, and developer of real estate for healthcare discovery and delivery TRANSFORMATIVE SCALE Creates differentiated company that benefits from the secular growth in healthcare discovery and delivery 52M square foot (1) portfolio with one of
Slide 5: Strategically Curated Portfolio with Marquee Assets
Strategically Curated Portfolio with Marquee Assets 5 8 C1TY Blvd | Nashville, TN The Cove at Oyster Point | South San Francisco, CA CHI – St. Luke’s Springwoods Village | Houston, TX Cambridge Discovery Park | Cambridge, MA Sarah Cannon Cancer Center | Nashville, TN Investor Presentation Baylor Cha
Slide 6: Superior Platform for Healthcare Discovery and Delivery
Superior Platform for Healthcare Discovery and Delivery 6 Combined Company Enterprise Value (1) $16B $5B $21B Property Count (2) 475 278 753 Outpatient Medical Square Footage (2) 24M 16M 40M Lab Square Footage 12M n.a. 12M % Outpatient Medical Occupancy 90% 95% 92% % Lab Occupancy 98% n.a. 98% Annua
Slide 7: National Scale, Local Competitive Advantage, Attractive Diversification
National Scale, Local Competitive Advantage, Attractive Diversification 7 13 markets with footprints exceeding 1 million square feet to help drive local competitive advantage 1) The Combined Company does not own assets in downtown San Francisco. 2) Does not include Healthpeak’s CCRC / Senior Housing
Slide 8: Market Leading Relationships in Healthcare Discovery & Delivery
Market Leading Relationships in Healthcare Discovery & Delivery 8 Well-positioned with the leading biopharma, health systems, and physician groups for the secular growth in demand for improved health Healthcare Delivery Research and Discovery Investor Presentation More than 2,500 tenants in the comb
Slide 9: Combined Diversified Tenant Base
Combined Diversified Tenant Base 9 Unmatched, diversified roster of the world’s leading biopharma, health systems, and physician groups 1) Specialty outpatient services includes tenant types such as non-health system ambulatory surgical centers, cancer treatment and dialysis centers, imaging and rad
Slide 10: Unmatched Outpatient Medical Portfolio
Unmatched Outpatient Medical Portfolio 10 40M SF combined Outpatient Medical portfolio with concentration in high-growth markets, deepening competitive local advantage UF Health North Medical Building | Jacksonville, FL Top 10 Combined Outpatient Medical MSAs (Based on square footage in millions) (1
Slide 11: Concentrated Lab Clusters Across the Leading Markets
Concentrated Lab Clusters Across the Leading Markets 11 Supporting a deep base of researchers and innovators through a well-located portfolio of amenity-rich spaces for R&D and collaboration Embedded long-term growth opportunities from well-located, developable land sites across the leading lab subm
Slide 12: Roadmap to Accelerating Portfolio Income Growth
Roadmap to Accelerating Portfolio Income Growth 12 Complementary strengths of the Combined Company creates the leading integrated platform Investor Presentation Integrate top talent and complementary capabilities across a combined team with decades of experience and deep relationships Leveraging bes
Slide 13: Internalization Case Study: Phoenix
1) Based on the Combined Company’s portfolios in Phoenix as of 9/30/2023 and excludes DOC’s pro-rata share of unconsolidated joint venture assets. 13 Dominant Phoenix position for the Combined Company with ~1.8M total sq. ft. across 29 buildings (1) Expands Combined Company’s relationship with Honor
Slide 14: Fortress Pro Forma Balance Sheet is a Competitive Advantage
Fortress Pro Forma Balance Sheet is a Competitive Advantage Pro Forma Debt Maturities and Credit Metrics (1) (2) (4) ($ in billions) 14 1) Pro forma for the Combined Company as of 9/30/2023, and includes a $500M new unsecured term loan with a maturity in 2029, repayment of a portion of Healthpeak’s
Slide 15: Key Transaction Highlights
15 Transformative Scale Complementary Expertise Deeper Footprint & Diversification Accretive Financial Impact Key Transaction Highlights Investor Presentation Vantage Phase I Campus and Amenities View (Rendering) South San Francisco, CA 1 2 3 4
Slide 16: Callan Ridge San Diego, CA Healthpeak.com
Callan Ridge San Diego, CA Healthpeak.com
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