Healthpeak Properties Announces Latest Life Science Development - Vantage - in South San Francisco
Healthpeak Properties announced the development of the Vantage campus in South San Francisco, comprising two life science buildings totaling approximately 343,000 square feet and a 30,000 square foot amenity center. The project reflects strong leasing demand in the area and aims to provide expansion space for the growing life science community. Groundbreaking is expected in Q4 2021, with completion anticipated in H2 2023. The Vantage campus adds to Healthpeak's portfolio, alongside The Shore at Sierra Point and Nexus on Grand, highlighting the company's commitment to life science real estate.
- Strong leasing activity at existing properties indicates high demand in the area.
- Vantage development will provide significant expansion space in the South San Francisco life science market.
- Healthpeak's third active project in South San Francisco reinforces its market position.
- Development timelines are subject to risk, including potential delays in groundbreaking and completion.
- Financial performance may be impacted by the uncertainties surrounding the development process.
DENVER, Nov. 2, 2021 /PRNewswire/ -- Healthpeak Properties, Inc. (NYSE: PEAK) announced today the initial phase of its Vantage campus in South San Francisco following strong leasing activity and demand at The Shore at Sierra Point and Nexus on Grand.
Located on the corner of Forbes Boulevard and Allerton Avenue in the heart of South San Francisco, the initial phase of Vantage will consist of two purpose-built life science buildings totaling approximately 343,000 square feet, in addition to a high-end 30,000 square foot amenity center complemented with ample outdoor meeting and community space. The campus also offers tenants direct access to the recently completed Rails to Trail pathway, which provides a pedestrian connection to downtown South San Francisco's restaurant and retail corridor, as well as the Caltrain station, which is undergoing a multi-year renovation.
"We are excited to continue our momentum in South San Francisco with the first phase of Vantage," said Scott Bohn, Healthpeak's Senior Vice President and Co-Head of Life Science. "This project is the next step in our ongoing development pipeline and will provide much needed expansion space to our existing tenant base and the growing South San Francisco life science community."
Vantage is Healthpeak's third active development in the South San Francisco market, joining The Shore at Sierra Point and Nexus on Grand. The project is expected to break ground in the fourth quarter of 2021 with an anticipated completion in the second half of 2023.
ABOUT HEALTHPEAK PROPERTIES
Healthpeak Properties, Inc. is a fully integrated real estate investment trust (REIT) and S&P 500 company. Healthpeak owns and develops high-quality real estate in the three private-pay healthcare asset classes of Life Science, Medical Office and CCRCs. At Healthpeak, we pair our deep understanding of the healthcare real estate market with a strong vision for long-term growth. For more information regarding Healthpeak, visit www.healthpeak.com.
FORWARD-LOOKING STATEMENTS
Statements in this release that are not historical factual statements are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include those regarding the development of Vantage. All forward-looking statements are made as of the date hereof, are not guarantees of future performance and are subject to known and unknown risks, uncertainties, assumptions and other factors — many of which are out of Healthpeak's and its management's control and difficult to forecast — that could cause actual results to differ materially from those set forth in or implied by such forward-looking statements. These risks and uncertainties include but are not limited to: Healthpeak's ability to commence and complete the development, or portions thereof, in the contemplated timeframes or at all; the risk that Healthpeak may not be able to achieve the benefits of the development within expected timeframes or at all, or within expected cost projections; and other risks and uncertainties described from time to time in Healthpeak's Securities and Exchange Commission filings. You should not to place undue reliance on any forward-looking statements. Healthpeak assumes no, and hereby disclaims any, obligation to update any forward-looking statements as a result of new information or new or future developments, except as otherwise required by law.
CONTACT
Andrew Johns, CFA
Vice President – Corporate Finance and Investor Relations
720-428-5400
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SOURCE Healthpeak Properties, Inc.
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