Interest Rate Fluctuations Risk: Rising interest rates can increase Healthpeak's borrowing costs, reduce property valuations, and make new debt financing more expensive, potentially impacting profitability and growth.

Tenant Credit and Default Risk: Dependence on the financial health and creditworthiness of their tenants, particularly in the life science and medical office sectors. Tenant bankruptcies, lease defaults, or non-renewals can lead to revenue losses and increased vacancy rates.

Healthcare Regulatory & Policy Changes Risk: Changes in government healthcare regulations, reimbursement policies, or funding for life science research can negatively impact the financial stability of their tenants, potentially affecting their ability to pay rent.