Healthpeak announces closing of holding company reorganization

Healthpeak Properties announced the completion of its holding company reorganization, which restructured the company as an Umbrella Partnership Real Estate Investment Trust, or UPREIT. The Reorganization provides additional flexibility for the company to efficiently acquire properties in a tax-deferred manner and aligns the company’s corporate structure with other publicly traded U.S. real estate investment trusts. The UPREIT structure allows owners to contribute property on a tax-deferred basis, subject to applicable tax requirements. As part of the Reorganization, a new holding company became the publicly traded parent company by way of an intercompany merger, assuming the existing name of "Healthpeak Properties, Inc.," while the prior corporation converted to a limited liability company called "Healthpeak OP, LLC" controlled by the publicly traded parent company. The Reorganization is not anticipated to have any material impact on the company’s financial position and is not expected to result in any material changes to the company’s consolidated financial statements, outstanding debt securities, material debt facilities, or business operations. All shares of common stock of Old Healthpeak automatically converted into identical shares of the company as part of the Reorganization, and the Reorganization will not impact the payment of the dividends declared by the company’s board of directors and payable to stockholders of record in accordance with previously announced dividend payment dates in respect of the company’s common stock.