Healthpeak's Hidden Value: Unlocking the True Worth of its Senior Housing Assets

Healthpeak is being undervalued by the market due to its mix of medical offices, labs, and senior housing properties. Its senior housing portfolio is worth approximately $4.25 billion, significantly higher than its current valuation of $3 billion. The company is spinning off its senior housing into Janus Living, which will force the market to directly value its senior housing assets. This move is expected to unlock the true value of DOC's senior housing and provide a source of low-cost capital for the company to bolster its MOB and lab business.