With the completion of the integration, former Slough Estates exec Marshal Lees, an executive vice president with HCP, "has resigned to pursue more entrepreneurial opportunities," HCP said in a prepared statement. Going forward, the HCP life science platform will be led by a team of three senior vice presidents: Jon Bergschneider, Randy Rohner and Tim Schoen.
In acquiring Slough, which was wholly owned by Britain's publicly traded Segro plc before HCP bought it, the Long Beach-based healthcare REIT took title to 83 properties totaling 5.2 million sf. That 5.2 million sf includes the Genentech and Amgen corporate campuses in San Francisco.
HCP Chairman and CEO Jay F. Flaherty notes that following the Slough Estates acquisition has enabled HCP to raise rents to market rates in a number of the acquired properties. With the integration of the Slough properties and its other holdings, HCP Inc. now owns a portfolio of 706 properties including 267 senior housing, 107 life science, 256 medical office, 25 hospital and 51 skilled nursing facilities.
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