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Tuesday, Jan 31, 2023
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HCP Buys Philadelphia Building

Irvine-based HCP Inc. has acquired a building in Philadelphia for $161 million, according to a federal filing.

HCP is a real estate investment trust that owns various types of healthcare-related properties, including nursing homes and medical office buildings.

San Francisco-based Digital Realty Trust Inc. sold the building, which has 705,000 square feet of space and 14 stories. The building houses Jefferson Health System, operator of the Jefferson University Hospitals, and other tenants.

HCP is publicly traded. Its stock was up 2% today to a market value of $18.4 billion.

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