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**Healthpeak Expands South San Francisco Footprint with $600M Campus Acquisition**
Healthpeak Properties has announced the acquisition of a 1.4-million-square-foot life sciences campus located on Gateway Boulevard in South San Francisco. The $600 million transaction includes 29 acres of strategically located property, though the seller was not disclosed.
The newly acquired campus is currently around 60% occupied and features a 15,000-square-foot amenity center. It also offers significant future development potential, aligning with Healthpeak’s long-term investment strategy in core life science markets.
With this acquisition, Denver-based Healthpeak significantly strengthens its presence in the South San Francisco submarket. The company now holds approximately 6.5 million square feet across 210 acres in the area, reinforcing its role as a major player in the life science real estate space.
This move comes as part of a broader strategic pivot. Healthpeak recently completed the divestiture of $325 million worth of outpatient medical properties. “Our recent transaction activity is directly aligned with the thesis we outlined on our October 2025 earnings call,” said Scott Brinker, President and CEO of Healthpeak Properties. “We are capitalizing on strong demand for outpatient medical real estate by selling fully stabilized assets at low-6% cap rates and reinvesting that capital into highly strategic life science assets in our core submarkets at low-6% going-in yields with meaningful upside through lease-up of the remaining vacancy.”
The acquisition underscores Healthpeak’s long-term commitment to expanding within high-growth life science clusters and maximizing value through strategic capital allocation.
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