Quarterly Results
Quarter
Categories
2Q 2018
2Q 2018 Earnings Results
Earnings Release & Supplemental Report
10-Q Filing
Discussion + Reconciliation of Non-GAAP Financial Measures
Second Quarter 2018 Highlights
- Entered into a $605 million joint venture with Morgan Stanley Real Estate Investing on a two million square foot medical office portfolio
- Commenced $267 million of life science development projects, including $160 million at Hayden Research Campus in the Boston market and $107 million at Phase IV of The Cove in South San Francisco
- Generated $892 million of proceeds from asset sales, including: (i) a 51% interest in our U.K. holdings; (ii) our remaining investment in the RIDEA II senior housing joint venture ("RIDEA II"); and (iii) five assets sold to Brookdale Senior Living, Inc. ("Brookdale")
- Under contract on the previously announced disposition of 22 senior housing communities managed by Brookdale to an investment fund managed by affiliates of Apollo Global Management for $428 million
- Completed 28 senior housing operator transitions from Brookdale to date, including 20 to Atria, five to Sunrise, two to Eclipse and one to Sonata
- Completed 324,000 square feet of leasing at Phase III of The Cove, bringing Phase III to 100% leased
- Repaid $700 million of our 5.375% senior notes due 2021 using proceeds from capital recycling
- Appointed Katherine Sandstrom to the Company's Board of Directors
- Named to the FTSE4Good sustainability index for the seventh consecutive year
- Increased 2018 FFO as adjusted guidance and reaffirmed full-year 2018 SPP Cash NOI guidance ranges
Most Recent Earnings Call