What You Should Know:

Healthpeak Properties, Inc. (NYSE: PEAK) (“Healthpeak”) announced the successful completion of its all-stock merger with Physicians Realty Trust.

– The combined company will continue to operate under the name Healthpeak Properties, Inc. and will begin trading under the new ticker symbol “DOC” on the New York Stock Exchange today.

$750M Growth Loan

To support its growth objectives, Healthpeak has secured a new $750 million, 5-year unsecured term loan. The proceeds from this loan were used for multiple purposes, including:

– Repayment of $210 million in Physicians Realty Trust private placement notes.

– General corporate purposes, encompassing transaction costs and repayment of borrowings under Healthpeak’s commercial paper program.

Furthermore, Healthpeak has implemented swap agreements to fix the interest rate of the new term loan at approximately 4.5% for its entire 5-year term. This strategy helps manage future interest rate fluctuations and ensures predictable financing costs.

Expanded Healthpeak Board of Directors

Additionally, the Healthpeak Board of Directors has expanded to include five new members who previously served on the board of Physicians Realty Trust:

– John Thomas: Appointed Vice Chair of the Healthpeak Board.

– Ava Lias-Booker

– Pamela Kessler

– Governor Tommy Thompson

– Richard Weiss

This strategic expansion strengthens the board’s expertise and fosters continuity following the merger.

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