DOC · 10-Q · 2026Q3 · Full report

Liquidity and Capital Position

HEALTHPEAK PROPERTIES, INC. · 2026-11-03 · Importance 61 · Surprise 32

Material debt-related cash requirements declined $466 million to $9.4 billion at September 30, 2026, reflecting repayments of $102 million senior housing mortgage debt, $142 million outpatient medical mortgage debt, and $650 million senior notes, partly offset by a $411 million increase in commercial paper outstanding. Healthpeak had Baa1 and BBB+ long-term ratings from Moody’s and S&P Global, respectively, as of October 30, 2026. The company executed an undrawn $400 million 2031 Term Loan in March; Janus Living’s amended revolving facility had a $1.25 billion commitment and was undrawn at quarter-end. In October, Healthpeak increased maximum incremental term-loan borrowing capacity to $2.75 billion and obtained commitments for a $500 million 2030 Term Loan, with no amount drawn as of November 3.

Key facts

• In October 2026, Healthpeak amended its term loan agreement to increase maximum incremental borrowing capacity to $2.75 billion and obtained commitments for a $500 million 2030 Term Loan. source
• In October 2026, Healthpeak amended its term loan agreement to increase maximum incremental borrowing capacity to $2.75 billion and entered into a $500 million four-year unsecured delayed draw term loan. source
• In March 2026, Healthpeak executed a $400 million 2031 Term Loan, which remained undrawn as of September 30, 2026. source
• In March 2026, Healthpeak entered into a $400 million five-year unsecured term loan as an incremental facility under its existing term loan agreement; no principal was outstanding as of September 30, 2026. source
• Healthpeak anticipates that operating cash flows, available cash balances, and financing activities will be adequate for the next 12 months and foreseeable future to fund recurring operating expenses, debt service, and distributions. source
• No amount had been drawn under Healthpeak’s $500 million 2030 Term Loan as of November 3, 2026. source
• Debt-related material cash requirements decreased $466 million to $9.4 billion at September 30, 2026, compared with December 31, 2025. source
• Four unconsolidated joint ventures had aggregate mortgage debt of $945 million as of September 30, 2026, of which Healthpeak’s share was $222 million. source