First Quarter 2016 and Recent Highlights
- FFO as adjusted and FAD per share were $0.69 and $0.66, respectively; FFO per share and EPS were $0.68 and $0.25, respectively
- Announced a plan to spin off HCRMC real estate portfolio into an independent publicly-traded REIT
- Conference call at 5:30am PDT, See Company Information Section for Details
- Completed and announced $554 million of investment transactions, including the commencement of Phase II of The Cove life science development, representing up to 230,000 sq. ft., and the acquisition of 12 private pay senior housing communities
- Announced $1.3 billion of capital recycling and financing activities to fund acquisitions and pay down corporate debt, including $740 million of proceeds from the anticipated sale of half of our 80% ownership interest in our RIDEA II senior housing joint venture and placement of third party mortgage debt
- Leased 689,000 sq. ft. in our life science and medical office portfolios, bringing occupancy to 98% and 91%, respectively
- Achieved year-over-year three-month cash NOI SPP growth of 3.2%, excluding HCRMC
- Expands and strengthens leadership team: Michael D. McKee elected Executive Chairman; Justin Hutchens promoted to Chief Investment Officer; Kai Hsiao joining HCP as EVP – Senior Housing Asset Management
Link to Full First Quarter 2016 Results
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