Healthpeak acquires $1.3b of senior housing properties

Healthpeak Properties has acquired 24 of Oakmont Senior Living’s housing development properties.

The properties are concentrated in California and are worth an estimated $1.3 billion.

“We are pleased to announce several important transactions that will be funded primarily through our recent forward-equity offering and senior housing joint venture proceeds,” said Tom Herzog, Healthpeak’s CEO. “Our portfolio repositioning included $4.5 billion of noncore senior housing sales over the last few years in order to achieve our desired portfolio quality and mix. We are now able to focus on investing accretively in new, high-quality properties across all three of our core asset classes.”

The acquisition options are expected to be offered in tranches between 2020 and 2023, including communities worth approximately $200 million in the first half of next year.

Once offered, Healthpeak has the option to acquire each applicable tranche of the development pr