IRVINE, Calif., Sept. 15, 2017 /PRNewswire/ -- HCP, Inc. (NYSE: HCP) today provided an update on the impact from Hurricane Irma.
HCP's preliminary assessment indicates that its assets in the impacted regions incurred either no or limited wind, flood or other storm-related damage. Utility power has been restored at all but one property.
"The care and safety of our residents continues to be the primary focus of both HCP and our operators," said Tom Klaritch, HCP's Chief Operating Officer.
HCP's assets are covered by property and business interruption insurance and the Company expects all damages will be insured under its existing policies subject to normal deductibles. As HCP completes its assessment, it will provide additional updates in the event of any material changes.
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.
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 Irma's impact on our assets and business and expected insurance coverage. 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.
Vice President – Finance and Investor Relations
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SOURCE HCP, Inc.