latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/healthpeak-details-5-covid-19-deaths-at-seniors-housing-facilities-57738311 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Healthpeak details 5 COVID-19 deaths at seniors housing facilities

COVID-19 Pandemic Likely To Cause US Telemedicine Boom

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate CRE Sector Feels the Impact of the Coronavirus

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry

Healthpeak details 5 COVID-19 deaths at seniors housing facilities

Five residents in two Healthpeak Properties Inc. seniors housing facilities have died as a result of the coronavirus pandemic, and there are seven properties in the company's portfolio with COVID-19 cases.

The company withdrew its previous guidance, which did not factor in impacts from the coronavirus. Healthpeak noted that it will update guidance "when the extent and timing of the outbreak becomes more clear."

Six of the properties with infections are in Healthpeak's seniors housing operating portfolio and are managed by Atria Senior Living Inc. or Sunrise Senior Living LLC, and one is a community on which Healthpeak has a mortgage loan. The company predicted more confirmed infections and deaths in its properties until the virus is brought under control nationally.

Property tours by prospective residents have begun to drop significantly and are now being conducted virtually, and seniors housing occupancy is expected to fall in the coming weeks. Healthpeak said operators are experiencing significant cost increases for staffing and supplies, including personal protective equipment.

Healthpeak said in a new presentation that it intends to accelerate the settlement of all of its existing equity forwards before the end of the first quarter, resulting in $1.06 billion of proceeds. The company expects to end the quarter with $3.3 billion of liquidity, including full borrowing capacity on its $2.5 billion unsecured revolving credit facility.

The company said it has closed on $127 million of noncore dispositions so far in 2020, but is assessing the remaining roughly $375 million of dispositions included in its guidance, since some seniors housing sales may be delayed. Roughly $480 million in acquisitions previously included in guidance are also likely to be delayed.

Construction spending in 2020 is expected to decline from previous expectations because of delays in projects resulting from slowdowns in permitting and inspections, and potentially from mandatory construction delays in some locations.