Healthpeak Properties, Inc. · NYSE:DOC
Healthpeak Properties — Investor Presentation (September 2023)
18 slides from Healthpeak Properties's investor presentation, Sep 12, 2023
Slide 1: Investor Presentation
Investor Presentation Healthpeak Properties September 2023 The Shore and The Towers South San Francisco, CA
Slide 2: Disclaimers
Disclaimers This Healthpeak Properties, Inc. (the “Company”) presentation is solely for your information, located and their affiliated healthcare systems to remain competitive or financially viable; our and completeness of such information are not guaranteed. Such data is often based on is subject t
Slide 3: Executive Summary
Executive Summary Strong YTD performance highlighted by prior increases to FFO as Adjusted(1) and AFFO(1) guidance mid-points +2 pennies and +3 pennies, respectively(2) 2023 Trending to higher end of most recent FFO as Adjusted and AFFO guidance ranges due to favorable recent operating activity Perf
Slide 4: Portfolio Concentrated in Core Biopharma and High-Growth Medical Markets
Portfolio Concentrated in Core Biopharma and High-Growth Medical Markets Portfolio Income by MSA(1) Top 10 Markets (ranked by Portfolio Income) Rank Market Square Feet Occupancy(2) % of Total PEAK (in millions) Portfolio Income 1 Bay Area(3) 5.4 97% 30% 2 Boston 2.8 97% 12% 3 San Diego 2.7 98% 8% 4
Slide 5: Consistent and Stable Portfolio Performance
Consistent and Stable Portfolio Performance Lab Outpatient Medical Combined Lab and Medical Portfolio 98.7% 96.8% 96.7% 96.6% 97.4% 92.5% 93.5% 93.5% 93.4% 93.7% 93.2% 92.4% 92.1% 91.5% 91.5% Same-Store Occupancy(1) 2019 2020 2021 2022 YTD YTD2023 23 2019 2020 2021 2022 YTD YTD2023 23 2019 2020 2021
Slide 6: Tenant Mix Focused on Healthcare Discovery and Delivery
Tenant Mix Focused on Healthcare Discovery and Delivery Other 4% Private Biotech 9% Health System Small Cap Biotech 29% 10% $1.1B Mid Cap Biotech ABR(1) 10% Large Cap Biopharma Medical Device / R&D / 15% University / Specialty Outpatient Services 10% Physician Group Practices 13% Well-diversified po
Slide 7: Lab and Outpatient Medical Top 20 Tenants
Lab and Outpatient Medical Top 20 Tenants(1) % of Total Rank Parent Name Classification Markets Market Cap ($M) PEAK Annualized Tenant Mix Summary Base Rent(2) 1 HCA Healthcare Health System National $83,587 12.2% Top tenants include HCA Healthcare, Amgen, 2 Amgen Large Cap Biopharma Bay Area $118,6
Slide 8: Fortress Balance Sheet
Fortress Balance Sheet Debt Metrics(1) Debt Maturity Profile(2) Baa1 / BBB+ 5.1x $4,000 Investment Grade $3,500 Net Debt / Ratings Adj. EBITDAre (Moody’s / S&P) $3,000 $2,500 $2,000 33.7% 2.0% $1,500 $1,324 Financial Leverage Secured Debt Ratio $1,000 $803 $750 $750 $750 $700 $650 $600 $500 $300 $88
Slide 9: Lab: Capital Raising Trends
Lab: Capital Raising Trends Transaction Activity Select Recent PEAK Tenant Capital Raises $ in billions $150 $141B Partnership(1) | $4B VC Funding | $10B $200M $230M Follow-on and IPOs | $15B Follow-On Equity Follow-On Equity +83% August 2023 July 2023 $77B $150M $85M Series B Funding Follow-On Equi
Slide 10: Lab: Leasing Activity
Lab: Leasing Activity PEAK Annual Lease Executions Significant Recent Leasing Activity Tenant Date Market SF Existing Tenant 2.6M Apr 23 Redwood City 143K Aug 23 Lexington 61K 1.7M 1.6M Mar 23 Torrey Pines 50K 1.4M Active Jun 23 South San Francisco 35K 1.2M Discussions(2) May 23 West Cambridge 23K A
Slide 11: Lab: Competitive New Supply
Lab: Competitive New Supply Headline new supply numbers include projects that we believe are not directly competitive due to a combination of submarket locations, inferior building design & capability, and / or sponsorship by developers with limited credibility and footprint Lab Inventory and New Su
Slide 12: Vision for Cambridge Lab Development
Project Rendering of Ground Floor Retail & Public Realm | Cambridge, MA Vision for Cambridge Lab Development Bringing a unique identity to Cambridge that incorporates the historic local heritage and its innovative future Building neighborhood character through design, programming and merchandising A
Slide 13: West Cambridge (Alewife) Development Opportunity
West Cambridge (Alewife) Development Opportunity A Cambridge destination for innovation creating an active public realm and world-class real estate including lab/R&D and multi-family residential Investor Presentation – September 2023 14
Slide 14: Outpatient Medical: PEAK Competitive Advantages
Outpatient Medical: PEAK Competitive Advantages Healthpeak’s Competitive Advantages(1) Same-Store Performance(4) 81% on-campus and 98% affiliated with a hospital or health system PEAK Outpatient Medical Peers 4.6% Strong relationships with leading local health systems including HCA, HonorHealth, Mem
Slide 15: Outpatient Medical: Leasing Activity
Outpatient Medical: Leasing Activity PEAK Annual Lease Executions Mark-to-Market on Renewals 4.7M 3.9% Active 1.5M Discussions(1) 2.8M 2.9% 3.2M Executed 5 -Year Average YTD 2023 5 -Year Average YTD 2023 Outpatient Medical demand remains strong; recent leasing volumes and rent mark-to-markets trendi
Slide 16: Medical City Dallas Campus
Medical City Dallas Campus Campus Summary Outpatient Medical Hospital Medical City Dallas (“MCD”) is a healthcare delivery campus consisting of a 900-bed hospital, 854,000 sq. ft. of outpatient space, and a 67,000 sq. ft. behavioral health hospital In August, PEAK executed a 20-year extension with H
Slide 17: Additional Trophy Medical Campuses
Additional Trophy Medical Campuses PEAK Outpatient Hospital Scale on profitable & growing hospital campuses creates pricing power and leasing flexibility as we partner with the host hospital to meet patient demand Swedish Medical Center | 610K SF | 6 Properties Tristar Centennial | 837K SF | 9 Prope
Slide 18: healthpeak.com
‘ill? Healthpeak PROPERTIES
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