Healthpeak Properties and Brookfield Asset Management have formed a long-term strategic capital partnership through a joint venture involving a portfolio of outpatient medical buildings across the United States.
The portfolio contributed by Healthpeak comprises 86 properties totaling approximately 5.6 million square feet, valued at approximately $2.1 billion. The portfolio is diversified across 11 states, including Arkansas, Illinois, Indiana, Kentucky, Minnesota, New Jersey, New York and Pennsylvania, and is 95 percent leased with a weighted average remaining lease term of six years.
Brookfield and its affiliates own a non-controlling 49 percent interest in the venture. Healthpeak retained a 51 percent controlling interest and serves as managing member, providing asset management, leasing, and property management services. Healthpeak received gross proceeds of approximately $1.025 billion from the sale of the 49 percent interest, implying a trailing cash capitalizatio
