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Transactions: Healthpeak acquires a seven-MOB portfolio for $169M

Purchase is part of strategy focused on MOBs, life science, CCRCs; JLL brokered the deal

By John B. Mugford

One of the assets Healthpeak acquired was the 81,606 square foot Bolingbrook MOB at 396 Remington Blvd. in Bolingbrook, Ill., outside of Chicago. The price for the facility on the campus of AMITA Health Adventist Medical Center Bolingbrook was $30.68 million. (Photo courtesy of JLL)

As Irvine, Calif.-based Healthpeak Properties Inc. carries out a four-year-old strategy that involves selling much of its senior housing and senior housing operating portfolio (SHOP) properties, it continues to invest the proceeds from such sales into its targeted property types.

“We believe senior housing will remain a vital asset class in our society and will continue to serve the demand of the rapidly growing baby boomer demographic,” Thomas M. Herzog, Healthpeak’s CEO said during a recent third quarter (Q3) earnings call with equities analysts. “But we will be a seller at the right price. But we’re also fully prepared to play through and sell these assets over time if needed.

“Regardless, our focus going forward will be on growing in our three core businesses” of medical office buildings (MOBs), life science facilities and continuing care retirement communities (CCRCs).

As October came to a close,

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