Healthpeak Properties, Inc. (PEAK) CEO Tom Herzog on Q1 2022 Results - Earnings Call Transcript

Healthpeak Properties, Inc. (NYSE:PEAK) Q1 2022 Earnings Conference Call May 4, 2022 11:00 AM ET

Company Participants

Andrew Johns - Senior Vice President, Investor Relations

Tom Herzog - Chief Executive Officer

Scott Brinker - President & Chief Investment Officer

Pete Scott - Chief Financial Officer

Tom Klaritch - Chief Operating Officer

Mike Dorris - Senior Vice President, Co-Head of Life Science

Conference Call Participants

Michael Griffin - Citi

Austin Wurschmidt - KeyBanc

Michael Carroll - RBC Capital Markets

Rich Hill - Morgan Stanley

Juan Sanabria - BMO Capital Markets

Steven Valiquette - Barclays

Mike Mueller - JPM

John Pawlowski - Green Street

Rich Anderson - SMBC

Operator

Good morning and welcome to the Healthpeak Properties First Quarter Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note that is being recorded.

Now, I'd like to turn the call over to Mr. Andrew Johns, Senior Vice President, Investor Relations. Please go ahead sir.

Andrew Johns

Welcome to Healthpeak's first quarter 2022 financial results conference call. Today's conference call will contain certain forward-looking statements. Although, we believe that expectations reflected in any forward-looking statements are based on reasonable assumptions our forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from expectations.

A discussion of risks and risk factors is included in our press release and detailed in our filings with the SEC. We do not undertake a duty to update any forward-looking statements. Certain non-GAAP financial measures will be discussed on this call. And in exhibit to the 8-K we furnished with the SEC yesterday, we have reconciled all non-GAAP financial measures to the most directly comparable GAAP measures in accordance with the Reg G requirements. The exhibit is also available on our website at healthpeak.com.

I’ll now turn the call over to our Chief Executive Officer, Tom Herzog.

Tom Herzog

Thanks A.J. and good morning everyone. With me today are Scott Brinker, our President and Chief Investment Officer; and Pete Scott, our Chief Financial Officer. Also here available for the Q&A portion of the call are Tom Klaritch, our Chief Operating Officer; and Troy McHenry, our Chief Legal Officer and General Counsel.

First a few highlights from the quarter. Our operating results were ahead of our initial expectations. We delivered 500,000 square feet of new development including three new 100% leased Class A Life Science buildings, represent an investment of $262 million, along with three HCA on-campus MOBs represented an investment of $68 million.