Healthpeak Properties and Physicians Realty Trust would combine to operate 52M SF of medical and lab space across the U.S.
Healthpeak holds 2025 guidance despite lab leasing delays and tenant uncertainty tied to federal policy shifts, with strength in senior and medical assets.
Tailwinds for the sector are "stronger than ever." Supply needs to increase by roughly 70K units per year between now and 2036 to meet peak demand.
The deal will create a new REIT called Janus Living with more than 10,000 units in its portfolio.
The 1.4M SF campus is on 29 acres and expands Healthpeak's Bay Area footprint to 6.5M SF.
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Healthpeak Properties is contributing an 86-property medical office portfolio to the joint venture, of which Brookfield will own 49%.
The new REIT, Janus Living, raised $840M for senior housing buys, and shares opened on the public market nearly 20% above the initial $20-per-share offering.
Architecture is no longer about creating a place, but rather creating an environment where human beings evolve and reach their greatest potential.
A creative industrial campus south of Olympic Boulevard has sold to Rexford Industrial Realty for $94M.
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