Healthpeak Properties moves its headquarters from Irvine, California to Denver

Orange County claimed the headquarters of Chipotle Mexican Grill from Denver more than two years ago. Now Metro Denver has drawn an Orange County company in its direction – one of the largest healthcare property owners in the country.

Healthpeak Properties, a real estate investment trust based in Irvine, Calif., Announced in its third quarter earnings report Tuesday that Denver has selected Denver across from Nashville and Dallas for its new corporate headquarters. The move will begin with a move of 20-25 people next year and will provide Colorado a public company with a market value of $ 15.3 billion

“We chose Denver because it offers a central location relative to our nationwide portfolio and the same travel time for our two offices in Irvine and Nashville, which will continue to employ the majority of our talented people. and faster travel and meetings with our analysts, investors and rating agencies across the country, ”said Thomas Herzog, the company’s chief executive officer, on Wednesday at an earnings call.

Denver also provided a convenient location for attracting and retaining top talent, he said.

The Colorado Economic Development Commission voted last month to grant Healthpeak Properties up to $ 5.3 million in job growth tax credits to create 166 full-time jobs in the state. These jobs are expected to be high-level executive positions, paying an average annual wage of $ 425,213 per year.

This average annual wage is the highest the state has successfully set with the tax credits brought into play by lawmakers after the Great Recession.

Healthpeak invests primarily in life science facilities, medical practices and senior housing and has interests in 633 properties. Another $ 1 billion will be spent on development. His Colorado holdings include several HealthOne medical facilities.

Nareit, an industry trading group, lists seven Colorado-based real estate investment trusts and estimates they have 44,000 employees. These include Aimco, Black Creek Diversified Property Fund Inc., Black Creek Industrial REIT IV Inc., CoreSite Realty Corporation, Farmland Partners Inc., National Storage Affiliates and UDR Inc.

ProLogis, an industrial REIT based in Denver until it was moved to San Francisco as part of an acquisition in 2011, also has a strong presence in the subway space.

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