---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-112569"
form_type: "8-K"
ticker: "DOC"
cik: "0000765880"
company_name: "HEALTHPEAK PROPERTIES, INC."
filed_at: "2023-10-30T23:59:59+00:00"
generated_at: "2026-06-09T06:20:27.214078+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Healthpeak to acquire Physicians Realty Trust in all-stock merger valued at ~$6B

## Summary
- Each Physicians Realty share will convert into 0.674 Healthpeak shares; expected close first half of 2024.
- Termination fees: $111M payable by Physicians Realty; $365M payable by Healthpeak under certain conditions.
- Five Physicians Realty board designees to join Healthpeak board at closing; board will expand to 13 members.
- Mergers subject to shareholder approvals, regulatory clearances, and REIT status opinions.
- Both boards unanimously approved the transaction; Healthpeak expects to retain Physicians Realty management.

## SEC filing metadata
- accession: 0001104659-23-112569
- form_type: 8-K
- ticker: DOC
- cik: 0000765880
- company_name: HEALTHPEAK PROPERTIES, INC.
- filed_at: 2023-10-30T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/765880/000110465923112569/0001104659-23-112569-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/765880/000110465923112569/tm2329359d4_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-112569
- JSON: https://secwatch.observer/filing/0001104659-23-112569.json
- Plain text: https://secwatch.observer/filing/0001104659-23-112569.txt

## Key facts
- Material Agreements
  HEALTHPEAK PROPERTIES, INC. entered into Agreement and Plan of Merger with Physicians Realty Trust (effective 2023-10-29).
  - Action: entry
  - Agreement: merger
  - Counterparty: Physicians Realty Trust
  - Effective: 2023-10-29
  source text: On October 29, 2023, Healthpeak Properties, Inc., a Maryland corporation (“ Healthpeak ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”) with Alpine Sub, LLC, a Maryland limited liability company and a wholly owned subsidiary of Healthpeak (“ Alpine Sub ”), Alpine OP Sub, LLC, a Maryland limited liability company and a wholly owned subsidiary of Parent OP (as defined below) (“ Alpine OP Sub ”), Physicians Realty Trust, a Maryland real estate investment trust ( “Physicians Realty Trust ”), and Physicians Realty L.P., a Delaware limited partnership (the “ Partnership ” and, together with Physicians Realty Trust, the “ Company Parties ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/765880/000110465923112569/0001104659-23-112569-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.