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Healthpeak , Investor Relations Healthpeak Reports First Quarter 2021 Results DENVER , May 4 , 2021 / PRNewswire / -- Healthpeak Properties , Inc. ( NYSE : PEAK ) today announced results for the first quarter ended March 31 , 2021 . FIRST QUARTER 2021 FINANCIAL PERFORMANCE AND RECENT HIGHLIGHTS Net income of $ 0.27 per share , NAREIT FFO of $ 0.07 per share , FFO as Adjusted of $ 0.40 per share and blended Total Same - Store Portfolio Cash ( Adjusted ) NOI growth of 4.3 % From our February 9 , 2021 earnings release through April 30 , 2021 , closed on an additional $ 1 billion of senior housing sales including 31 SHOP assets at a blended 2.6 % annualized trailing 3 - month cap rate ● $ 564 million sale of a 12 - property SHOP portfolio , totaling 1,043 units , operated by Oakmont Senior Living • $ 334 million sale of a 10 - property SHOP portfolio , totaling 1,428 units , operated by Discovery Senior Living and the sale of 2 loans and 2 preferred equity investments generating additional proceeds of $ 21 million • Through 5 separate transactions , sale of 9 SHOP properties totaling 879 units generating total proceeds of $ 114 million . The operators of the SHOP properties include Sonata ( 5 ) , Milestone , Sunrise Senior Living , Capital Senior Living and Brookdale Senior Living . Acquisitions : • Acquired a 14 - property medical office portfolio with 833,000 square feet for $ 371 million , an approximately 80,000 square foot on - campus medical office building in Denver , Colorado for $ 38 million and a 48,000 square foot on campus medical office building in Nashville , Tennessee for $ 13 million • Closed on the first phase of the previously announced acquisition of 12 acres of land in South San Francisco , California for $ 61 million Development : • Completed 75 Hayden , a 100 % leased , 214,000 square foot life science development in Lexington , Massachusetts • Announced commencement of Nexus on Grand development in South San Francisco , California and densification of Callan Ridge in Torrey Pines , California Balance sheet : • Completed the previously announced repayment of $ 1.45 billion senior unsecured notes due in 2023 and 2024 and announced the tender of up to $ 550 million of additional senior unsecured notes due in 2025 The Board of Directors declared a quarterly common stock cash dividend of $ 0.30 per share to be paid on May 21 , 2021 , to stockholders of record as of the close of business on May 10 , 2021 Named to the Bloomberg Gender - Equality Index for the second consecutive year and named a Women's Forum of New York Corporate Champion for the third time FIRST QUARTER COMPARISON ( in thousands , except per share amounts ) Net income ( loss ) , diluted NAREIT FFO , diluted FFO as Adjusted , diluted AFFO , diluted Three Months Ended March 31 , 2021 Amount Per Share $ 143,337 $ 0.27 40,233 217,331 0.07 0.40 186,135 Three Months Ended March 31 , 2020 Amount $ 279,979 $ 173,186 228,562 209,214 Per Share 0.54 0.34 0.45 NAREIT FFO , FFO as Adjusted , AFFO , Same - Store Cash ( Adjusted ) NOI , Net Debt to Adjusted EBITDAre are supplemental non - GAAP financial measures that we believe are useful in evaluating the operating performance and financial position of real estate investment trusts ( see the " Funds From Operations " and " Adjusted Funds From Operations " sections of this release for additional information ) . See " March 31 , 2021 Discussion and Reconciliation of Non - GAAP Financial Measures " for definitions , discussions of their uses and inherent limitations , and reconciliations to the most directly comparable financial measures calculated and presented in accordance with GAAP on the Investor Relations section of our website at http://ir.healthpeak.com/quarterly-results . SAME - STORE ( " SS " ) OPERATING SUMMARY