POWER OF ATTORNEY

        KNOW ALL PERSONS BY THESE PRESENTS that the
undersigned hereby constitutes, designates and
appoints Troy E. McHenry and Scott A. Graziano as such
person's true and lawful attorneys-in-fact and agents,
each with full power of substitution and
resubstitution and full power to act alone and without
the other, for the undersigned and in the
undersigned's name, place and stead, in any and all
capacities, to:

(a)        prepare, execute in the undersigned's name
and on the undersigned's behalf, and submit to the U.S.
Securities and Exchange Commission (the "SEC") a Form
ID (or any successor form), including amendments
thereto, and any other documents necessary or
appropriate to obtain codes and passwords enabling the
undersigned to make electronic filings with the SEC of
reports required by Section 16(a) or any rule or
regulation of the SEC promulgated thereunder;

(b)        execute for and on behalf of the
undersigned, in the undersigned's capacity as an
officer of HCP, Inc. (the "Company"), Forms 3, 4, and
5 in accordance with Section 16(a) of the Securities
Exchange Act of 1934 and the rules thereunder (or any
successor forms);

(c)        do and perform any and all acts for and on
behalf of the undersigned which may be necessary or
desirable to complete and execute any such Form 3, 4,
or 5, complete and execute any amendment or amendments
thereto, and timely file such form with the SEC and
any stock exchange or similar authority; and

(d)        take any other action of any type
whatsoever in connection with the foregoing which, in
the opinion of such attorney-in-fact, may be of
benefit to, in the best interest of, or legally
required by, the undersigned, it being understood that
the documents executed by such attorney-in-fact on
behalf of the undersigned pursuant to this Power of
Attorney shall be in such form and shall contain such
terms and conditions as such attorney-in-fact may
approve in such attorney-in-fact's discretion.

        The undersigned hereby grants to each such
attorney-in-fact full power and authority to do and
perform any and every act and thing whatsoever
requisite, necessary, or proper to be done in the
exercise of any of the rights and powers herein
granted, as fully to all intents and purposes as the
undersigned might or could do if personally present,
with full power of substitution or revocation, hereby
ratifying and confirming all that such attorney-in-
fact, or such attorney-in-fact's substitute or
substitutes, shall lawfully do or cause to be done by
virtue of this power of attorney and the rights and
powers herein granted. The undersigned acknowledges
that the foregoing attorneys-in-fact, in serving in
such capacity at the request of the undersigned, are
not assuming, nor is the Company assuming any of the
undersigned's responsibilities to comply with Section
16 of the Securities Exchange Act of 1934.

        This Power of Attorney shall remain in full
force and effect until the undersigned is no longer
required to file Forms 3, 4, and 5 with respect to the
undersigned's holdings of and transactions in
securities issued by the Company, unless earlier
revoked by the undersigned in a signed writing
delivered to the foregoing attorneys-in-fact.

        IN WITNESS WHEREOF, the undersigned has
executed this instrument as of the 3rd day of August,
2017.


/s/ Shawn G. Johnston
Name: Shawn G. Johnston