DOC · 10-Q · 2026Q3 · Full report

Interest Rate Exposure

HEALTHPEAK PROPERTIES, INC. · 2026-11-03 · Importance 54 · Surprise 40

As of September 30, 2026, approximately 83% of Healthpeak’s consolidated debt was fixed rate, down from 95% a year earlier. Fixed-rate and variable-rate debt had weighted-average effective interest rates of 4.24% and 4.27%, respectively, compared with 4.20% and 4.79% as of September 30, 2025. Interest-rate swaps fixed rates on the $750 million 2029 Term Loan, $500 million 2027 Term Loans, and $400 million 2028 Term Loan. Debt hedged through cash flow hedges is classified as fixed rate because the swaps effectively establish fixed interest rates on the underlying debt.

Key facts

• As of September 30, 2026, Healthpeak Properties had swapped to fixed rates the $750 million 2029 Term Loan, the $500 million 2027 Term Loans, and the $400 million 2028 Term Loan. source
• Healthpeak Properties' consolidated debt was 83% fixed rate as of September 30, 2026, compared with 95% as of September 30, 2025. source
• A downgrade by Moody’s or S&P Global could increase rates on Healthpeak’s Revolving Facility and term loans, facility fees, and pricing of commercial paper and senior unsecured notes. source
• As of September 30, 2026, Healthpeak Properties' fixed-rate and variable-rate debt had weighted average effective interest rates of 4.24% and 4.27%, respectively. source
• As of September 30, 2025, Healthpeak Properties' fixed-rate and variable-rate debt had weighted average effective interest rates of 4.20% and 4.79%, respectively. source
• Healthpeak said elevated interest rates have affected and could continue to adversely affect borrowing costs, fixed-rate instrument fair values, transaction volume, and real estate values, including its own real estate. source
• Healthpeak Properties classifies variable-rate debt with a derivative designated as a cash flow hedge as fixed-rate debt because it has effectively established a fixed interest rate for the underlying debt instrument. source