IRVINE, Calif., Aug. 31, 2017 /PRNewswire/ -- HCP, Inc.
(NYSE: HCP) today provided an update on the impact from Hurricane
Harvey.
HCP's preliminary assessment indicates its assets incurred
either no or limited damage due to Hurricane Harvey. All
medical office buildings and most senior housing communities in the
storm-impacted region are fully-operational. Three operating
and one triple-net senior housing communities were evacuated due to
water intrusion and to ensure the safety of our residents.
Remediation work has begun and residents are expected to return
over the coming days and weeks.
HCP's impacted assets are covered by property and business
interruption insurance and the Company expects all damages will be
insured under its existing polices subject to modest deductibles.
As the duration and full impact of the storm remain unknown,
the Company will provide additional updates in the event of any
material changes.
"Our thoughts go out to the many people impacted by this
devastating storm," commented Tom
Herzog, HCP's President and CEO. "Brookdale and our other operating partners,
along with our on-site teams, were well-prepared and continue to
work diligently to ensure the safety of our residents and
tenants."
About HCP
HCP, Inc. is a fully integrated real estate investment trust
(REIT) that invests primarily in real estate serving the healthcare
industry in the United States.
HCP owns a large-scale portfolio diversified across multiple
sectors, led by senior housing, life science and medical office.
Recognized as a global leader in sustainability, HCP has been
a publicly-traded company since 1985 and was the first healthcare
REIT selected to the S&P 500 index. For more information
regarding HCP, visit www.hcpi.com.
Forward-Looking Statements
Statements in this release that are not historical factual
statements are "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. These
statements include, among other things, statements relating to our
expectations concerning Hurricane Harvey's impact on our assets
and business. All forward-looking statements are made
as of the date hereof, are not guarantees of future performance and
are subject to known and unknown risks, uncertainties, assumptions
and other factors — many of which are out of our and our
management's control and difficult to forecast — that could cause
actual results to differ materially from those set forth in or
implied by such forward-looking statements. These risks and
uncertainties include but are not limited to the aforementioned
statements, as well as risks described from time to time in our
filings with the U.S. Securities and Exchange Commission. You
should not place undue reliance on any forward-looking
statements. We assume no, and hereby disclaim any, obligation
to update any forward-looking statements as a result of new
information or new or future developments, except as otherwise
required by law.
Contact
Andrew Johns
Vice President – Finance and Investor Relations
(949) 407-0400
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SOURCE HCP, Inc.