Healthpeak Properties, Inc. (NYSE: DOC), a leading owner, operator, and developer of real estate for healthcare discovery and delivery, today announced results for the fourth quarter and year ended December 31, 2024.

FOURTH QUARTER 2024 FINANCIAL PERFORMANCE AND RECENT HIGHLIGHTS

• Net income of $0.01 per share, Nareit FFO of $0.44 per share, FFO as Adjusted of $0.46 per share, AFFO of $0.40 per share, and Total Same-Store Portfolio Cash (Adjusted) NOI growth of 5.4%
• Healthpeak’s Board of Directors declared a 1.7% increase in the Company’s quarterly common stock cash dividend to $0.305 per share
• Fourth quarter new and renewal lease executions totaled 1.5 million square feet:
  • Outpatient medical new and renewal lease executions totaled 879,000 square feet with 83% retention and +2% cash releasing spreads on renewals
  • Lab new and renewal lease executions totaled 652,000 square feet with +30% cash releasing spreads on renewals
• Originated loans and other investments totaling up to approximately $126 million during the fourth quarter 2024 and through January 2025
• Executive management promotions and leadership transitions:
  • Promoted Kelvin Moses to Executive Vice President – Investments and Portfolio Management, and Tracy Porter to Executive Vice President and General Counsel
  • Pursuant to our long-term executive succession planning, Jeff Miller and Tom Klaritch will each be departing the Company after a transition and consulting role through December 31, 2025, and Mark Theine will lead Healthpeak’s Outpatient Medical platform
• Extended maturity of $3 billion revolving credit facility to 2029
• Net Debt to Adjusted EBITDAre was 5.2x for the quarter ended December 31, 2024