Profile: HCP Inc (HCP)

HCP on New York Consolidated

36.73USD
2 Sep 2015
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HCP, Inc. (HCP), incorporated on March 21, 1985, is a self-administered real estate investment trust (REIT). The Company invests in real estate serving the healthcare industry in the United States. Its portfolio consists of investments in various healthcare segments: senior housing, post-acute/skilled nursing, life science, medical office and hospital. Its portfolio includes owned portfolio, unconsolidated joint ventures, and developments and redevelopments. At December 31, 2014, its owned portfolio included 1,040 properties under lease and 68 operating properties. At December 31, 2014, the Company had interests in unconsolidated joint ventures representing 88 properties primarily in its senior housing, life science and medical office segments. It has assets under development, redevelopment and land held for future development, which are primarily in its life science and medical office segments. At December 31, 2014, the properties owned by the Company in medical office and senior housing segments, which were under development or redevelopment include Pacific Corporate Park, Memorial Hermann, Sky Ridge, Bayfront, Folsom and Deer Park.

Senior housing

At December 31, 2014, the Company had interests in 479 senior housing facilities, including 14 properties owned by its unconsolidated joint ventures. Its senior housing facilities include independent living facilities (ILFs), assisted living facilities (ALFs), memory care facilities (MCFs), care homes, and continuing care retirement communities (CCRCs), which cater to different segments of the elderly population. At December 31, 2014, the Company had interests in 64 ILFs, 345 ALFs, 21 MCFs, 23 care homes and 26 CCRCs. Its senior housing segment accounted for approximately 39% of the total revenue for the year ended December 31, 2014. As of January 1, 2015, 83 properties were under RIDEA structures, 14 of which are owned by its CCRC unconsolidated joint venture.

Post-acute/skilled nursing

At December 31, 2014, the Company had interests in 301 post-acute/skilled nursing facilities (SNFs). Its post-acute/skilled nursing segment accounted for approximately 27% of the total revenue for the year ended December 31, 2014.

Life science

At December 31, 2014, the Company had interests in and managed 115 life science properties, including its facilities owned by its unconsolidated joint ventures. These properties contain laboratory and office space primarily for biotechnology, medical device and pharmaceutical companies, scientific research institutions, Government agencies and other organizations involved in the life science industry. Life science properties are primarily configured in business park or campus settings and include multiple buildings. Its properties are located in geographical markets, such as San Francisco and San Diego, California, Salt Lake City, Utah, Durham, North Carolina and Boston, Massachusetts. Its life science segment accounted for approximately 14% of the total revenue for the year ended December 31, 2014. In February 2015, the Company began construction on the first phase of The Cove at Oyster Point, a life science development in South San Francisco.

Medical office

At December 31, 2014, the Company had interests in and managed 281 medical office buildings (MOBs), including 66 facilities owned by its unconsolidated joint ventures. MOBs contain physicians’ offices and examination rooms, and also include pharmacies, hospital ancillary service space and outpatient services, such as diagnostic centers, rehabilitation clinics and day-surgery operating rooms. Its MOBs are leased to healthcare providers (hospitals and physician practices), with approximately 79% of its MOBs, based on square feet, located on hospital campuses, while 94% are affiliated with hospital systems. Its medical office segment accounted for approximately 16% of the total revenue for the year ended December 31, 2014.

Hospital

At December 31, 2014, the Company had interests in and managed 20 hospitals, including its facilities owned by its unconsolidated joint ventures. Its hospital property types include acute care, long-term acute care, specialty and rehabilitation hospitals. Its hospital segment accounted for approximately 4% of the total revenue for the year ended December 31, 2014.

Company Address

HCP Inc

1920 Main St Ste 1200
IRVINE   CA   92614-7230
P: +1949.4070700
F: +1562.7335200

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