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    <link:label id="lab_us-gaap_LoansPayableMember_355257AABBDFF2F4BF66D4DE4A1FA8BA_terseLabel_en-US" xlink:label="lab_us-gaap_LoansPayableMember_355257AABBDFF2F4BF66D4DE4A1FA8BA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term loans</link:label>
    <link:label id="lab_us-gaap_LoansPayableMember_355257AABBDFF2F4BF66D4DE4A1FA8BA_label_en-US" xlink:label="lab_us-gaap_LoansPayableMember_355257AABBDFF2F4BF66D4DE4A1FA8BA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans Payable [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LoansPayableMember" xlink:label="loc_us-gaap_LoansPayableMember_355257AABBDFF2F4BF66D4DE4A1FA8BA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansPayableMember_355257AABBDFF2F4BF66D4DE4A1FA8BA" xlink:to="lab_us-gaap_LoansPayableMember_355257AABBDFF2F4BF66D4DE4A1FA8BA" xlink:type="arc" />
    <link:label id="lab_us-gaap_UnsecuredDebtMember_230BE110FFAB458D54CFD4DE4A1F8A31_terseLabel_en-US" xlink:label="lab_us-gaap_UnsecuredDebtMember_230BE110FFAB458D54CFD4DE4A1F8A31" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unsecured Debt</link:label>
    <link:label id="lab_us-gaap_UnsecuredDebtMember_230BE110FFAB458D54CFD4DE4A1F8A31_label_en-US" xlink:label="lab_us-gaap_UnsecuredDebtMember_230BE110FFAB458D54CFD4DE4A1F8A31" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unsecured Debt [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_UnsecuredDebtMember" xlink:label="loc_us-gaap_UnsecuredDebtMember_230BE110FFAB458D54CFD4DE4A1F8A31" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnsecuredDebtMember_230BE110FFAB458D54CFD4DE4A1F8A31" xlink:to="lab_us-gaap_UnsecuredDebtMember_230BE110FFAB458D54CFD4DE4A1F8A31" xlink:type="arc" />
    <link:label id="lab_hcp_TermLoan2015Member_13E0A4CCD587C6C30019D4DE4A1FBF06_terseLabel_en-US" xlink:label="lab_hcp_TermLoan2015Member_13E0A4CCD587C6C30019D4DE4A1FBF06" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2015 Term Loan</link:label>
    <link:label id="lab_hcp_TermLoan2015Member_13E0A4CCD587C6C30019D4DE4A1FBF06_label_en-US" xlink:label="lab_hcp_TermLoan2015Member_13E0A4CCD587C6C30019D4DE4A1FBF06" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan 2015 [Member]</link:label>
    <link:label id="lab_hcp_TermLoan2015Member_13E0A4CCD587C6C30019D4DE4A1FBF06_documentation_en-US" xlink:label="lab_hcp_TermLoan2015Member_13E0A4CCD587C6C30019D4DE4A1FBF06" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining to the term loan incepted in 2015.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_TermLoan2015Member" xlink:label="loc_hcp_TermLoan2015Member_13E0A4CCD587C6C30019D4DE4A1FBF06" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_TermLoan2015Member_13E0A4CCD587C6C30019D4DE4A1FBF06" xlink:to="lab_hcp_TermLoan2015Member_13E0A4CCD587C6C30019D4DE4A1FBF06" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPeriodAxis_BB346C275B90096CCB62D4DE4A1F977E_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPeriodAxis_BB346C275B90096CCB62D4DE4A1F977E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument, Redemption, Period [Axis]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPeriodAxis_BB346C275B90096CCB62D4DE4A1F977E_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPeriodAxis_BB346C275B90096CCB62D4DE4A1F977E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Redemption, Period [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DebtInstrumentRedemptionPeriodAxis" xlink:label="loc_us-gaap_DebtInstrumentRedemptionPeriodAxis_BB346C275B90096CCB62D4DE4A1F977E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentRedemptionPeriodAxis_BB346C275B90096CCB62D4DE4A1F977E" xlink:to="lab_us-gaap_DebtInstrumentRedemptionPeriodAxis_BB346C275B90096CCB62D4DE4A1F977E" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPeriodDomain_0B136505E8C0FEA9A513D4DE4A20A368_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPeriodDomain_0B136505E8C0FEA9A513D4DE4A20A368" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument, Redemption, Period [Domain]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPeriodDomain_0B136505E8C0FEA9A513D4DE4A20A368_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPeriodDomain_0B136505E8C0FEA9A513D4DE4A20A368" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Redemption, Period [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DebtInstrumentRedemptionPeriodDomain" xlink:label="loc_us-gaap_DebtInstrumentRedemptionPeriodDomain_0B136505E8C0FEA9A513D4DE4A20A368" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentRedemptionPeriodDomain_0B136505E8C0FEA9A513D4DE4A20A368" xlink:to="lab_us-gaap_DebtInstrumentRedemptionPeriodDomain_0B136505E8C0FEA9A513D4DE4A20A368" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPeriodOneMember_C8AEEB5B66AB2AEBB6DCD4DE4A202D64_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPeriodOneMember_C8AEEB5B66AB2AEBB6DCD4DE4A202D64" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt maturing in 2018</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPeriodOneMember_C8AEEB5B66AB2AEBB6DCD4DE4A202D64_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPeriodOneMember_C8AEEB5B66AB2AEBB6DCD4DE4A202D64" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Redemption, Period One [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DebtInstrumentRedemptionPeriodOneMember" xlink:label="loc_us-gaap_DebtInstrumentRedemptionPeriodOneMember_C8AEEB5B66AB2AEBB6DCD4DE4A202D64" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentRedemptionPeriodOneMember_C8AEEB5B66AB2AEBB6DCD4DE4A202D64" xlink:to="lab_us-gaap_DebtInstrumentRedemptionPeriodOneMember_C8AEEB5B66AB2AEBB6DCD4DE4A202D64" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPeriodTwoMember_2F9F042B72EC0FC7918ED4DE4A20240E_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPeriodTwoMember_2F9F042B72EC0FC7918ED4DE4A20240E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt maturing in 2019</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPeriodTwoMember_2F9F042B72EC0FC7918ED4DE4A20240E_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPeriodTwoMember_2F9F042B72EC0FC7918ED4DE4A20240E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Redemption, Period Two [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DebtInstrumentRedemptionPeriodTwoMember" xlink:label="loc_us-gaap_DebtInstrumentRedemptionPeriodTwoMember_2F9F042B72EC0FC7918ED4DE4A20240E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentRedemptionPeriodTwoMember_2F9F042B72EC0FC7918ED4DE4A20240E" xlink:to="lab_us-gaap_DebtInstrumentRedemptionPeriodTwoMember_2F9F042B72EC0FC7918ED4DE4A20240E" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPeriodThreeMember_A2B04A6DE03B386AE070D4DE4A206B84_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPeriodThreeMember_A2B04A6DE03B386AE070D4DE4A206B84" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt maturing in 2020</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPeriodThreeMember_A2B04A6DE03B386AE070D4DE4A206B84_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPeriodThreeMember_A2B04A6DE03B386AE070D4DE4A206B84" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Redemption, Period Three [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DebtInstrumentRedemptionPeriodThreeMember" xlink:label="loc_us-gaap_DebtInstrumentRedemptionPeriodThreeMember_A2B04A6DE03B386AE070D4DE4A206B84" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentRedemptionPeriodThreeMember_A2B04A6DE03B386AE070D4DE4A206B84" xlink:to="lab_us-gaap_DebtInstrumentRedemptionPeriodThreeMember_A2B04A6DE03B386AE070D4DE4A206B84" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPeriodFourMember_C86E209B2387E540ADBFD4DE4A2135AA_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPeriodFourMember_C86E209B2387E540ADBFD4DE4A2135AA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt maturing in 2021</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPeriodFourMember_C86E209B2387E540ADBFD4DE4A2135AA_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPeriodFourMember_C86E209B2387E540ADBFD4DE4A2135AA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Redemption, Period Four [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DebtInstrumentRedemptionPeriodFourMember" xlink:label="loc_us-gaap_DebtInstrumentRedemptionPeriodFourMember_C86E209B2387E540ADBFD4DE4A2135AA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentRedemptionPeriodFourMember_C86E209B2387E540ADBFD4DE4A2135AA" xlink:to="lab_us-gaap_DebtInstrumentRedemptionPeriodFourMember_C86E209B2387E540ADBFD4DE4A2135AA" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPeriodFiveMember_348B3A9654C3247169CFD4DE4A21EE36_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPeriodFiveMember_348B3A9654C3247169CFD4DE4A21EE36" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt maturing in 2022</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPeriodFiveMember_348B3A9654C3247169CFD4DE4A21EE36_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPeriodFiveMember_348B3A9654C3247169CFD4DE4A21EE36" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Redemption, Period Five [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DebtInstrumentRedemptionPeriodFiveMember" xlink:label="loc_us-gaap_DebtInstrumentRedemptionPeriodFiveMember_348B3A9654C3247169CFD4DE4A21EE36" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentRedemptionPeriodFiveMember_348B3A9654C3247169CFD4DE4A21EE36" xlink:to="lab_us-gaap_DebtInstrumentRedemptionPeriodFiveMember_348B3A9654C3247169CFD4DE4A21EE36" xlink:type="arc" />
    <link:label id="lab_hcp_DebtInstrumentRedemptionPeriodThereafterMember_6464D8F6E6FD434C9489D4DE4A21324C_terseLabel_en-US" xlink:label="lab_hcp_DebtInstrumentRedemptionPeriodThereafterMember_6464D8F6E6FD434C9489D4DE4A21324C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_hcp_DebtInstrumentRedemptionPeriodThereafterMember_6464D8F6E6FD434C9489D4DE4A21324C_label_en-US" xlink:label="lab_hcp_DebtInstrumentRedemptionPeriodThereafterMember_6464D8F6E6FD434C9489D4DE4A21324C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument Redemption Period Thereafter [Member]</link:label>
    <link:label id="lab_hcp_DebtInstrumentRedemptionPeriodThereafterMember_6464D8F6E6FD434C9489D4DE4A21324C_documentation_en-US" xlink:label="lab_hcp_DebtInstrumentRedemptionPeriodThereafterMember_6464D8F6E6FD434C9489D4DE4A21324C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the period after the last period separately disclosed of debt redemption features under terms of the debt agreement.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_DebtInstrumentRedemptionPeriodThereafterMember" xlink:label="loc_hcp_DebtInstrumentRedemptionPeriodThereafterMember_6464D8F6E6FD434C9489D4DE4A21324C" xlink:type="locator" />
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    <link:label id="lab_srt_RangeAxis_2F4FD19EB7B27B11EFF7D4DE4A210593_terseLabel_en-US" xlink:label="lab_srt_RangeAxis_2F4FD19EB7B27B11EFF7D4DE4A210593" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Range [Axis]</link:label>
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    <link:label id="lab_srt_RangeMember_D91B82192C996828DD58D4DE4A21310B_terseLabel_en-US" xlink:label="lab_srt_RangeMember_D91B82192C996828DD58D4DE4A21310B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Range [Domain]</link:label>
    <link:label id="lab_srt_RangeMember_D91B82192C996828DD58D4DE4A21310B_label_en-US" xlink:label="lab_srt_RangeMember_D91B82192C996828DD58D4DE4A21310B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Range [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_D91B82192C996828DD58D4DE4A21310B" xlink:type="locator" />
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    <link:label id="lab_srt_MinimumMember_D256ECD5DA3E8D9CD700D4DE4A215296_label_en-US" xlink:label="lab_srt_MinimumMember_D256ECD5DA3E8D9CD700D4DE4A215296" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minimum [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_MinimumMember" xlink:label="loc_srt_MinimumMember_D256ECD5DA3E8D9CD700D4DE4A215296" xlink:type="locator" />
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    <link:label id="lab_srt_MaximumMember_D7F5888518EF9807BB1AD4DE4A2293E5_terseLabel_en-US" xlink:label="lab_srt_MaximumMember_D7F5888518EF9807BB1AD4DE4A2293E5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum</link:label>
    <link:label id="lab_srt_MaximumMember_D7F5888518EF9807BB1AD4DE4A2293E5_label_en-US" xlink:label="lab_srt_MaximumMember_D7F5888518EF9807BB1AD4DE4A2293E5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum [Member]</link:label>
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    <link:label id="lab_us-gaap_DebtInstrumentLineItems_DF5494F881DCB447CF6ED4DE4A22AF9C_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems_DF5494F881DCB447CF6ED4DE4A22AF9C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="loc_us-gaap_DebtInstrumentLineItems_DF5494F881DCB447CF6ED4DE4A22AF9C" xlink:type="locator" />
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    <link:label id="lab_hcp_DebtInstrumentCollateralHealthcareFacilitiesNumber_2F62C10B891C9EFB3901D4DE4A222C8D_terseLabel_en-US" xlink:label="lab_hcp_DebtInstrumentCollateralHealthcareFacilitiesNumber_2F62C10B891C9EFB3901D4DE4A222C8D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of healthcare facilities used to secure debt</link:label>
    <link:label id="lab_hcp_DebtInstrumentCollateralHealthcareFacilitiesNumber_2F62C10B891C9EFB3901D4DE4A222C8D_label_en-US" xlink:label="lab_hcp_DebtInstrumentCollateralHealthcareFacilitiesNumber_2F62C10B891C9EFB3901D4DE4A222C8D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Collateral Healthcare Facilities, Number</link:label>
    <link:label id="lab_hcp_DebtInstrumentCollateralHealthcareFacilitiesNumber_2F62C10B891C9EFB3901D4DE4A222C8D_documentation_en-US" xlink:label="lab_hcp_DebtInstrumentCollateralHealthcareFacilitiesNumber_2F62C10B891C9EFB3901D4DE4A222C8D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of healthcare facilities which are secured by mortgage debt.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_DebtInstrumentCollateralHealthcareFacilitiesNumber" xlink:label="loc_hcp_DebtInstrumentCollateralHealthcareFacilitiesNumber_2F62C10B891C9EFB3901D4DE4A222C8D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_DebtInstrumentCollateralHealthcareFacilitiesNumber_2F62C10B891C9EFB3901D4DE4A222C8D" xlink:to="lab_hcp_DebtInstrumentCollateralHealthcareFacilitiesNumber_2F62C10B891C9EFB3901D4DE4A222C8D" xlink:type="arc" />
    <link:label id="lab_hcp_DebtInstrumentCollateralHealthcareFacilitiesCarryingValue_2A5C8907DC2B7A262DB5D4DE4A23F09B_terseLabel_en-US" xlink:label="lab_hcp_DebtInstrumentCollateralHealthcareFacilitiesCarryingValue_2A5C8907DC2B7A262DB5D4DE4A23F09B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt instrument, collateral, healthcare facilities carrying value</link:label>
    <link:label id="lab_hcp_DebtInstrumentCollateralHealthcareFacilitiesCarryingValue_2A5C8907DC2B7A262DB5D4DE4A23F09B_label_en-US" xlink:label="lab_hcp_DebtInstrumentCollateralHealthcareFacilitiesCarryingValue_2A5C8907DC2B7A262DB5D4DE4A23F09B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Collateral Healthcare Facilities, Carrying Value</link:label>
    <link:label id="lab_hcp_DebtInstrumentCollateralHealthcareFacilitiesCarryingValue_2A5C8907DC2B7A262DB5D4DE4A23F09B_documentation_en-US" xlink:label="lab_hcp_DebtInstrumentCollateralHealthcareFacilitiesCarryingValue_2A5C8907DC2B7A262DB5D4DE4A23F09B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Carrying amount of healthcare facilities which are secured by mortgage debt.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_DebtInstrumentCollateralHealthcareFacilitiesCarryingValue" xlink:label="loc_hcp_DebtInstrumentCollateralHealthcareFacilitiesCarryingValue_2A5C8907DC2B7A262DB5D4DE4A23F09B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_DebtInstrumentCollateralHealthcareFacilitiesCarryingValue_2A5C8907DC2B7A262DB5D4DE4A23F09B" xlink:to="lab_hcp_DebtInstrumentCollateralHealthcareFacilitiesCarryingValue_2A5C8907DC2B7A262DB5D4DE4A23F09B" xlink:type="arc" />
    <link:label id="lab_us-gaap_RepaymentsOfDebt_0AE3860CA794FB3C01F1D4DE4A2397C8_verboseLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfDebt_0AE3860CA794FB3C01F1D4DE4A2397C8" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Repayments of debt</link:label>
    <link:label id="lab_us-gaap_RepaymentsOfDebt_0AE3860CA794FB3C01F1D4DE4A2397C8_label_en-US" xlink:label="lab_us-gaap_RepaymentsOfDebt_0AE3860CA794FB3C01F1D4DE4A2397C8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments of Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_RepaymentsOfDebt" xlink:label="loc_us-gaap_RepaymentsOfDebt_0AE3860CA794FB3C01F1D4DE4A2397C8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepaymentsOfDebt_0AE3860CA794FB3C01F1D4DE4A2397C8" xlink:to="lab_us-gaap_RepaymentsOfDebt_0AE3860CA794FB3C01F1D4DE4A2397C8" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_0A4E6EC57286D152CCF1D4DE4A233E8C_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_0A4E6EC57286D152CCF1D4DE4A233E8C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2018 (nine months)</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_0A4E6EC57286D152CCF1D4DE4A233E8C_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_0A4E6EC57286D152CCF1D4DE4A233E8C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt, Maturities, Repayments of Principal, Remainder of Fiscal Year</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_0A4E6EC57286D152CCF1D4DE4A233E8C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_0A4E6EC57286D152CCF1D4DE4A233E8C" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_0A4E6EC57286D152CCF1D4DE4A233E8C" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_D76102327F5614559091D4DE4A23B29D_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_D76102327F5614559091D4DE4A23B29D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2019</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_D76102327F5614559091D4DE4A23B29D_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_D76102327F5614559091D4DE4A23B29D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt, Maturities, Repayments of Principal in Year Two</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_D76102327F5614559091D4DE4A23B29D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_D76102327F5614559091D4DE4A23B29D" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_D76102327F5614559091D4DE4A23B29D" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_E95CE5680C57191BF989D4DE4A236336_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_E95CE5680C57191BF989D4DE4A236336" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2020</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_E95CE5680C57191BF989D4DE4A236336_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_E95CE5680C57191BF989D4DE4A236336" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt, Maturities, Repayments of Principal in Year Three</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_E95CE5680C57191BF989D4DE4A236336" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_E95CE5680C57191BF989D4DE4A236336" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_E95CE5680C57191BF989D4DE4A236336" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_F0CD4F1FB1D20D1D94E4D4DE4A23D30B_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_F0CD4F1FB1D20D1D94E4D4DE4A23D30B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2021</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_F0CD4F1FB1D20D1D94E4D4DE4A23D30B_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_F0CD4F1FB1D20D1D94E4D4DE4A23D30B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt, Maturities, Repayments of Principal in Year Four</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_F0CD4F1FB1D20D1D94E4D4DE4A23D30B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_F0CD4F1FB1D20D1D94E4D4DE4A23D30B" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_F0CD4F1FB1D20D1D94E4D4DE4A23D30B" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_1FA3CF15FC53E548D513D4DE4A2413D8_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_1FA3CF15FC53E548D513D4DE4A2413D8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2022</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_1FA3CF15FC53E548D513D4DE4A2413D8_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_1FA3CF15FC53E548D513D4DE4A2413D8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt, Maturities, Repayments of Principal in Year Five</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_1FA3CF15FC53E548D513D4DE4A2413D8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_1FA3CF15FC53E548D513D4DE4A2413D8" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_1FA3CF15FC53E548D513D4DE4A2413D8" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_C6CFBE6924D306247EDAD4DE4A2486B6_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_C6CFBE6924D306247EDAD4DE4A2486B6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_C6CFBE6924D306247EDAD4DE4A2486B6_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_C6CFBE6924D306247EDAD4DE4A2486B6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt, Maturities, Repayments of Principal after Year Five</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_C6CFBE6924D306247EDAD4DE4A2486B6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_C6CFBE6924D306247EDAD4DE4A2486B6" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_C6CFBE6924D306247EDAD4DE4A2486B6" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_8FC21D6E0481ED1F08B1D4DE4A24C172_totalLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount_8FC21D6E0481ED1F08B1D4DE4A24C172" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total debt before discount, net</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_8FC21D6E0481ED1F08B1D4DE4A24C172_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount_8FC21D6E0481ED1F08B1D4DE4A24C172" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt, Gross</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DebtInstrumentCarryingAmount" xlink:label="loc_us-gaap_DebtInstrumentCarryingAmount_8FC21D6E0481ED1F08B1D4DE4A24C172" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentCarryingAmount_8FC21D6E0481ED1F08B1D4DE4A24C172" xlink:to="lab_us-gaap_DebtInstrumentCarryingAmount_8FC21D6E0481ED1F08B1D4DE4A24C172" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet_837924284D98F19D674AD4DE4A24863A_negatedLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet_837924284D98F19D674AD4DE4A24863A" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">(Discounts), premiums and debt costs, net</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet_837924284D98F19D674AD4DE4A24863A_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet_837924284D98F19D674AD4DE4A24863A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Unamortized Discount (Premium), Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet" xlink:label="loc_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet_837924284D98F19D674AD4DE4A24863A" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LongTermDebt_7B5C4227C1024E99DF85D4DE4A24784D_totalLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt_7B5C4227C1024E99DF85D4DE4A24784D" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Debt instruments, carrying amount</link:label>
    <link:label id="lab_us-gaap_LongTermDebt_7B5C4227C1024E99DF85D4DE4A24784D_label_en-US" xlink:label="lab_us-gaap_LongTermDebt_7B5C4227C1024E99DF85D4DE4A24784D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LongTermDebt" xlink:label="loc_us-gaap_LongTermDebt_7B5C4227C1024E99DF85D4DE4A24784D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebt_7B5C4227C1024E99DF85D4DE4A24784D" xlink:to="lab_us-gaap_LongTermDebt_7B5C4227C1024E99DF85D4DE4A24784D" xlink:type="arc" />
    <link:label id="lab_hcp_DebtInstrumentPortionDenominatedInForeignCurrency_A2FE309188DD820A7455D4E319C8AFED_terseLabel_en-US" xlink:label="lab_hcp_DebtInstrumentPortionDenominatedInForeignCurrency_A2FE309188DD820A7455D4E319C8AFED" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt denominated in foreign currency outstanding</link:label>
    <link:label id="lab_hcp_DebtInstrumentPortionDenominatedInForeignCurrency_A2FE309188DD820A7455D4E319C8AFED_label_en-US" xlink:label="lab_hcp_DebtInstrumentPortionDenominatedInForeignCurrency_A2FE309188DD820A7455D4E319C8AFED" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Portion Denominated in Foreign Currency</link:label>
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    <link:label id="lab_us-gaap_LoansPayableToBank_24BF41DF3EB0D102E8CBD4DE4A22EC94_terseLabel_en-US" xlink:label="lab_us-gaap_LoansPayableToBank_24BF41DF3EB0D102E8CBD4DE4A22EC94" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term loan</link:label>
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    <link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_22621E3942320E9B3866D4DE4A24D1FF_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_22621E3942320E9B3866D4DE4A24D1FF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of stated interest rate</link:label>
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    <link:label id="lab_us-gaap_OtherBorrowings_EC5088D531C7BA9FD924D4DE4A25E06B_terseLabel_en-US" xlink:label="lab_us-gaap_OtherBorrowings_EC5088D531C7BA9FD924D4DE4A25E06B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other debt</link:label>
    <link:label id="lab_us-gaap_OtherBorrowings_EC5088D531C7BA9FD924D4DE4A25E06B_label_en-US" xlink:label="lab_us-gaap_OtherBorrowings_EC5088D531C7BA9FD924D4DE4A25E06B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Borrowings</link:label>
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    <link:label id="lab_us-gaap_ReceivablesAbstract_BE70A71C6EA6C0EFD92961586B29FF1E_label_en-US" xlink:label="lab_us-gaap_ReceivablesAbstract_BE70A71C6EA6C0EFD92961586B29FF1E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivables [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ReceivablesAbstract" xlink:label="loc_us-gaap_ReceivablesAbstract_BE70A71C6EA6C0EFD92961586B29FF1E" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock_10392AA8AED8D31627E061586B290470_terseLabel_en-US" xlink:label="lab_us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock_10392AA8AED8D31627E061586B290470" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loans Receivable</link:label>
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    <link:label id="lab_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract_14A5A5F722C2C39772ACA3A34007938B_label_en-US" xlink:label="lab_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract_14A5A5F722C2C39772ACA3A34007938B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Comprehensive Income [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:label="loc_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract_14A5A5F722C2C39772ACA3A34007938B" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ProfitLoss_110D5AD34752307CF2FDA3A340070CEB_verboseLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss_110D5AD34752307CF2FDA3A340070CEB" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net income (loss)</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_110D5AD34752307CF2FDA3A340070CEB_label_en-US" xlink:label="lab_us-gaap_ProfitLoss_110D5AD34752307CF2FDA3A340070CEB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss), Including Portion Attributable to Noncontrolling Interest</link:label>
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    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract_FDA8ACE00B5AD448421FA3A34007E8ED_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract_FDA8ACE00B5AD448421FA3A34007E8ED" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other comprehensive income (loss):</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract_FDA8ACE00B5AD448421FA3A34007E8ED_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract_FDA8ACE00B5AD448421FA3A34007E8ED" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Net of Tax [Abstract]</link:label>
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    <link:label id="lab_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax_0C08929C9BA8361EFF8CA3A34008B0A1_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax_0C08929C9BA8361EFF8CA3A34008B0A1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax" xlink:label="loc_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax_0C08929C9BA8361EFF8CA3A34008B0A1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax_0C08929C9BA8361EFF8CA3A34008B0A1" xlink:to="lab_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax_0C08929C9BA8361EFF8CA3A34008B0A1" xlink:type="arc" />
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    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax_098F9676D4F3A1E5BFF8A3A340080FF1_negatedLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax_098F9676D4F3A1E5BFF8A3A340080FF1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Change in Supplemental Executive Retirement Plan obligation and other</link:label>
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_VariableInterestEntityNotPrimaryBeneficiaryInvestmentInJointVentureMember_01105015C68B0CA6DF48861DCAA6D2DC" xlink:to="lab_hcp_VariableInterestEntityNotPrimaryBeneficiaryInvestmentInJointVentureMember_01105015C68B0CA6DF48861DCAA6D2DC" xlink:type="arc" />
    <link:label id="lab_hcp_DevelopmentJVsMember_D4D67D38B924BB7622F2861DCAA793E2_verboseLabel_en-US" xlink:label="lab_hcp_DevelopmentJVsMember_D4D67D38B924BB7622F2861DCAA793E2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Unconsolidated Development JVs</link:label>
    <link:label id="lab_hcp_DevelopmentJVsMember_D4D67D38B924BB7622F2861DCAA793E2_label_en-US" xlink:label="lab_hcp_DevelopmentJVsMember_D4D67D38B924BB7622F2861DCAA793E2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Development JVs [Member]</link:label>
    <link:label id="lab_hcp_DevelopmentJVsMember_D4D67D38B924BB7622F2861DCAA793E2_documentation_en-US" xlink:label="lab_hcp_DevelopmentJVsMember_D4D67D38B924BB7622F2861DCAA793E2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Development JVs [Member]</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_DevelopmentJVsMember" xlink:label="loc_hcp_DevelopmentJVsMember_D4D67D38B924BB7622F2861DCAA793E2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_DevelopmentJVsMember_D4D67D38B924BB7622F2861DCAA793E2" xlink:to="lab_hcp_DevelopmentJVsMember_D4D67D38B924BB7622F2861DCAA793E2" xlink:type="arc" />
    <link:label id="lab_hcp_VariableInterestEntityNotPrimaryBeneficiarySellerFinancingMember_BBD8B2B64E9D09DB5113861DCAA7EA43_terseLabel_en-US" xlink:label="lab_hcp_VariableInterestEntityNotPrimaryBeneficiarySellerFinancingMember_BBD8B2B64E9D09DB5113861DCAA7EA43" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan - Seller Financing</link:label>
    <link:label id="lab_hcp_VariableInterestEntityNotPrimaryBeneficiarySellerFinancingMember_BBD8B2B64E9D09DB5113861DCAA7EA43_label_en-US" xlink:label="lab_hcp_VariableInterestEntityNotPrimaryBeneficiarySellerFinancingMember_BBD8B2B64E9D09DB5113861DCAA7EA43" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity Not Primary Beneficiary Seller Financing [Member]</link:label>
    <link:label id="lab_hcp_VariableInterestEntityNotPrimaryBeneficiarySellerFinancingMember_BBD8B2B64E9D09DB5113861DCAA7EA43_documentation_en-US" xlink:label="lab_hcp_VariableInterestEntityNotPrimaryBeneficiarySellerFinancingMember_BBD8B2B64E9D09DB5113861DCAA7EA43" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents seller financing with a party that has been identified as a Variable Interest Entities (VIE) in which the entity does not have a controlling financial interest (as defined) and of which it is therefore not the primary beneficiary.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_VariableInterestEntityNotPrimaryBeneficiarySellerFinancingMember" xlink:label="loc_hcp_VariableInterestEntityNotPrimaryBeneficiarySellerFinancingMember_BBD8B2B64E9D09DB5113861DCAA7EA43" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_VariableInterestEntityNotPrimaryBeneficiarySellerFinancingMember_BBD8B2B64E9D09DB5113861DCAA7EA43" xlink:to="lab_hcp_VariableInterestEntityNotPrimaryBeneficiarySellerFinancingMember_BBD8B2B64E9D09DB5113861DCAA7EA43" xlink:type="arc" />
    <link:label id="lab_hcp_VariableInterestEntityNotPrimaryBeneficiaryDebtInvestmentMember_F82661D199455FA2B171861DCAA7DACB_terseLabel_en-US" xlink:label="lab_hcp_VariableInterestEntityNotPrimaryBeneficiaryDebtInvestmentMember_F82661D199455FA2B171861DCAA7DACB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">CMBS and LLC investment</link:label>
    <link:label id="lab_hcp_VariableInterestEntityNotPrimaryBeneficiaryDebtInvestmentMember_F82661D199455FA2B171861DCAA7DACB_label_en-US" xlink:label="lab_hcp_VariableInterestEntityNotPrimaryBeneficiaryDebtInvestmentMember_F82661D199455FA2B171861DCAA7DACB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity Not Primary Beneficiary Debt Investment [Member]</link:label>
    <link:label id="lab_hcp_VariableInterestEntityNotPrimaryBeneficiaryDebtInvestmentMember_F82661D199455FA2B171861DCAA7DACB_documentation_en-US" xlink:label="lab_hcp_VariableInterestEntityNotPrimaryBeneficiaryDebtInvestmentMember_F82661D199455FA2B171861DCAA7DACB" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents a debt investment with a party that has been identified as a Variable Interest Entities (VIE) in which the entity does not have a controlling financial interest (as defined) and of which it is therefore not the primary beneficiary.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_VariableInterestEntityNotPrimaryBeneficiaryDebtInvestmentMember" xlink:label="loc_hcp_VariableInterestEntityNotPrimaryBeneficiaryDebtInvestmentMember_F82661D199455FA2B171861DCAA7DACB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_VariableInterestEntityNotPrimaryBeneficiaryDebtInvestmentMember_F82661D199455FA2B171861DCAA7DACB" xlink:to="lab_hcp_VariableInterestEntityNotPrimaryBeneficiaryDebtInvestmentMember_F82661D199455FA2B171861DCAA7DACB" xlink:type="arc" />
    <link:label id="lab_us-gaap_VariableInterestEntityLineItems_B1BFF8AAC5D59E6A5D2B861DCAA74056_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityLineItems_B1BFF8AAC5D59E6A5D2B861DCAA74056" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Interest Entity [Line Items]</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityLineItems_B1BFF8AAC5D59E6A5D2B861DCAA74056_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityLineItems_B1BFF8AAC5D59E6A5D2B861DCAA74056" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_VariableInterestEntityLineItems" xlink:label="loc_us-gaap_VariableInterestEntityLineItems_B1BFF8AAC5D59E6A5D2B861DCAA74056" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityLineItems_B1BFF8AAC5D59E6A5D2B861DCAA74056" xlink:to="lab_us-gaap_VariableInterestEntityLineItems_B1BFF8AAC5D59E6A5D2B861DCAA74056" xlink:type="arc" />
    <link:label id="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_AA51661D2783AFBF89C8861DCAA832E1_verboseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_AA51661D2783AFBF89C8861DCAA832E1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Maximum Loss Exposure and Carrying Amount</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_AA51661D2783AFBF89C8861DCAA832E1_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_AA51661D2783AFBF89C8861DCAA832E1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount" xlink:label="loc_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_AA51661D2783AFBF89C8861DCAA832E1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_AA51661D2783AFBF89C8861DCAA832E1" xlink:to="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_AA51661D2783AFBF89C8861DCAA832E1" xlink:type="arc" />
    <link:label id="lab_us-gaap_SubsequentEventTypeAxis_B83A9DF0AB31DD883F13BDBF6DA0D3D2_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeAxis_B83A9DF0AB31DD883F13BDBF6DA0D3D2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Axis]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventTypeAxis_B83A9DF0AB31DD883F13BDBF6DA0D3D2_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeAxis_B83A9DF0AB31DD883F13BDBF6DA0D3D2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SubsequentEventTypeAxis" xlink:label="loc_us-gaap_SubsequentEventTypeAxis_B83A9DF0AB31DD883F13BDBF6DA0D3D2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTypeAxis_B83A9DF0AB31DD883F13BDBF6DA0D3D2" xlink:to="lab_us-gaap_SubsequentEventTypeAxis_B83A9DF0AB31DD883F13BDBF6DA0D3D2" xlink:type="arc" />
    <link:label id="lab_us-gaap_SubsequentEventTypeDomain_0E6ECC60BFDCEA921E94BDBF6DA00D3A_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeDomain_0E6ECC60BFDCEA921E94BDBF6DA00D3A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Domain]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventTypeDomain_0E6ECC60BFDCEA921E94BDBF6DA00D3A_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeDomain_0E6ECC60BFDCEA921E94BDBF6DA00D3A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SubsequentEventTypeDomain" xlink:label="loc_us-gaap_SubsequentEventTypeDomain_0E6ECC60BFDCEA921E94BDBF6DA00D3A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTypeDomain_0E6ECC60BFDCEA921E94BDBF6DA00D3A" xlink:to="lab_us-gaap_SubsequentEventTypeDomain_0E6ECC60BFDCEA921E94BDBF6DA00D3A" xlink:type="arc" />
    <link:label id="lab_us-gaap_SubsequentEventMember_D2534D455C9773992644BDBF6DA07CED_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventMember_D2534D455C9773992644BDBF6DA07CED" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event</link:label>
    <link:label id="lab_us-gaap_SubsequentEventMember_D2534D455C9773992644BDBF6DA07CED_label_en-US" xlink:label="lab_us-gaap_SubsequentEventMember_D2534D455C9773992644BDBF6DA07CED" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SubsequentEventMember" xlink:label="loc_us-gaap_SubsequentEventMember_D2534D455C9773992644BDBF6DA07CED" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventMember_D2534D455C9773992644BDBF6DA07CED" xlink:to="lab_us-gaap_SubsequentEventMember_D2534D455C9773992644BDBF6DA07CED" xlink:type="arc" />
    <link:label id="lab_us-gaap_VariableRateAxis_6AA96C73823C2A1D2BAFBDBF6DA234C1_terseLabel_en-US" xlink:label="lab_us-gaap_VariableRateAxis_6AA96C73823C2A1D2BAFBDBF6DA234C1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Rate [Axis]</link:label>
    <link:label id="lab_us-gaap_VariableRateAxis_6AA96C73823C2A1D2BAFBDBF6DA234C1_label_en-US" xlink:label="lab_us-gaap_VariableRateAxis_6AA96C73823C2A1D2BAFBDBF6DA234C1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Rate [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_VariableRateAxis" xlink:label="loc_us-gaap_VariableRateAxis_6AA96C73823C2A1D2BAFBDBF6DA234C1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableRateAxis_6AA96C73823C2A1D2BAFBDBF6DA234C1" xlink:to="lab_us-gaap_VariableRateAxis_6AA96C73823C2A1D2BAFBDBF6DA234C1" xlink:type="arc" />
    <link:label id="lab_us-gaap_VariableRateDomain_E8FD57837349D1CF22CABDBF6DA32A3F_terseLabel_en-US" xlink:label="lab_us-gaap_VariableRateDomain_E8FD57837349D1CF22CABDBF6DA32A3F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Rate [Domain]</link:label>
    <link:label id="lab_us-gaap_VariableRateDomain_E8FD57837349D1CF22CABDBF6DA32A3F_label_en-US" xlink:label="lab_us-gaap_VariableRateDomain_E8FD57837349D1CF22CABDBF6DA32A3F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Rate [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_VariableRateDomain" xlink:label="loc_us-gaap_VariableRateDomain_E8FD57837349D1CF22CABDBF6DA32A3F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableRateDomain_E8FD57837349D1CF22CABDBF6DA32A3F" xlink:to="lab_us-gaap_VariableRateDomain_E8FD57837349D1CF22CABDBF6DA32A3F" xlink:type="arc" />
    <link:label id="lab_us-gaap_LondonInterbankOfferedRateLIBORMember_5976AFA31943CEF59304BDBF6DA30912_terseLabel_en-US" xlink:label="lab_us-gaap_LondonInterbankOfferedRateLIBORMember_5976AFA31943CEF59304BDBF6DA30912" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">LIBOR</link:label>
    <link:label id="lab_us-gaap_LondonInterbankOfferedRateLIBORMember_5976AFA31943CEF59304BDBF6DA30912_label_en-US" xlink:label="lab_us-gaap_LondonInterbankOfferedRateLIBORMember_5976AFA31943CEF59304BDBF6DA30912" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">London Interbank Offered Rate (LIBOR) [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LondonInterbankOfferedRateLIBORMember" xlink:label="loc_us-gaap_LondonInterbankOfferedRateLIBORMember_5976AFA31943CEF59304BDBF6DA30912" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LondonInterbankOfferedRateLIBORMember_5976AFA31943CEF59304BDBF6DA30912" xlink:to="lab_us-gaap_LondonInterbankOfferedRateLIBORMember_5976AFA31943CEF59304BDBF6DA30912" xlink:type="arc" />
    <link:label id="lab_hcp_GbpLiborMember_76325C49ADD058428975BDBF6DA30F93_terseLabel_en-US" xlink:label="lab_hcp_GbpLiborMember_76325C49ADD058428975BDBF6DA30F93" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">GBP LIBOR</link:label>
    <link:label id="lab_hcp_GbpLiborMember_76325C49ADD058428975BDBF6DA30F93_label_en-US" xlink:label="lab_hcp_GbpLiborMember_76325C49ADD058428975BDBF6DA30F93" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gbp Libor [Member]</link:label>
    <link:label id="lab_hcp_GbpLiborMember_76325C49ADD058428975BDBF6DA30F93_documentation_en-US" xlink:label="lab_hcp_GbpLiborMember_76325C49ADD058428975BDBF6DA30F93" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information related to financial instruments for which the exchange rate index is GBP LIBOR.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_GbpLiborMember" xlink:label="loc_hcp_GbpLiborMember_76325C49ADD058428975BDBF6DA30F93" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_GbpLiborMember_76325C49ADD058428975BDBF6DA30F93" xlink:to="lab_hcp_GbpLiborMember_76325C49ADD058428975BDBF6DA30F93" xlink:type="arc" />
    <link:label id="lab_hcp_TermLoan2018Member_62B06A8A6FED0BD717D5BDBF6DA427E6_terseLabel_en-US" xlink:label="lab_hcp_TermLoan2018Member_62B06A8A6FED0BD717D5BDBF6DA427E6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2018 term loan</link:label>
    <link:label id="lab_hcp_TermLoan2018Member_62B06A8A6FED0BD717D5BDBF6DA427E6_label_en-US" xlink:label="lab_hcp_TermLoan2018Member_62B06A8A6FED0BD717D5BDBF6DA427E6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan 2018 [Member]</link:label>
    <link:label id="lab_hcp_TermLoan2018Member_62B06A8A6FED0BD717D5BDBF6DA427E6_documentation_en-US" xlink:label="lab_hcp_TermLoan2018Member_62B06A8A6FED0BD717D5BDBF6DA427E6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Term Loan 2018 [Member]</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_TermLoan2018Member" xlink:label="loc_hcp_TermLoan2018Member_62B06A8A6FED0BD717D5BDBF6DA427E6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_TermLoan2018Member_62B06A8A6FED0BD717D5BDBF6DA427E6" xlink:to="lab_hcp_TermLoan2018Member_62B06A8A6FED0BD717D5BDBF6DA427E6" xlink:type="arc" />
    <link:label id="lab_hcp_LineOfCreditAndTermLoanMember_1CD551C5B02379309D4BBDBF6DA48BA1_terseLabel_en-US" xlink:label="lab_hcp_LineOfCreditAndTermLoanMember_1CD551C5B02379309D4BBDBF6DA48BA1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Line of Credit and Term Loan</link:label>
    <link:label id="lab_hcp_LineOfCreditAndTermLoanMember_1CD551C5B02379309D4BBDBF6DA48BA1_label_en-US" xlink:label="lab_hcp_LineOfCreditAndTermLoanMember_1CD551C5B02379309D4BBDBF6DA48BA1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line Of Credit And Term Loan [Member]</link:label>
    <link:label id="lab_hcp_LineOfCreditAndTermLoanMember_1CD551C5B02379309D4BBDBF6DA48BA1_documentation_en-US" xlink:label="lab_hcp_LineOfCreditAndTermLoanMember_1CD551C5B02379309D4BBDBF6DA48BA1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The combination of the entity's revolving line of credit facility and term loan.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_LineOfCreditAndTermLoanMember" xlink:label="loc_hcp_LineOfCreditAndTermLoanMember_1CD551C5B02379309D4BBDBF6DA48BA1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_LineOfCreditAndTermLoanMember_1CD551C5B02379309D4BBDBF6DA48BA1" xlink:to="lab_hcp_LineOfCreditAndTermLoanMember_1CD551C5B02379309D4BBDBF6DA48BA1" xlink:type="arc" />
    <link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_4352CA4640014DB621DEBDBF6DA5BA3A_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_4352CA4640014DB621DEBDBF6DA5BA3A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Line of credit facility, maximum borrowing capacity</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_4352CA4640014DB621DEBDBF6DA5BA3A_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_4352CA4640014DB621DEBDBF6DA5BA3A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Maximum Borrowing Capacity</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_4352CA4640014DB621DEBDBF6DA5BA3A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_4352CA4640014DB621DEBDBF6DA5BA3A" xlink:to="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_4352CA4640014DB621DEBDBF6DA5BA3A" xlink:type="arc" />
    <link:label id="lab_hcp_DebtInstrumentNumberofExtensions_51AEB5259CBA1B80D4F8BDBF6DA51D64_terseLabel_en-US" xlink:label="lab_hcp_DebtInstrumentNumberofExtensions_51AEB5259CBA1B80D4F8BDBF6DA51D64" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of extensions</link:label>
    <link:label id="lab_hcp_DebtInstrumentNumberofExtensions_51AEB5259CBA1B80D4F8BDBF6DA51D64_label_en-US" xlink:label="lab_hcp_DebtInstrumentNumberofExtensions_51AEB5259CBA1B80D4F8BDBF6DA51D64" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Number of Extensions</link:label>
    <link:label id="lab_hcp_DebtInstrumentNumberofExtensions_51AEB5259CBA1B80D4F8BDBF6DA51D64_documentation_en-US" xlink:label="lab_hcp_DebtInstrumentNumberofExtensions_51AEB5259CBA1B80D4F8BDBF6DA51D64" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Number of Extensions</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_DebtInstrumentNumberofExtensions" xlink:label="loc_hcp_DebtInstrumentNumberofExtensions_51AEB5259CBA1B80D4F8BDBF6DA51D64" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_DebtInstrumentNumberofExtensions_51AEB5259CBA1B80D4F8BDBF6DA51D64" xlink:to="lab_hcp_DebtInstrumentNumberofExtensions_51AEB5259CBA1B80D4F8BDBF6DA51D64" xlink:type="arc" />
    <link:label id="lab_hcp_DebtInstrumentPeriodOfExtension_615A0044CB5D9A8EBFB6BDBF6DA576FD_terseLabel_en-US" xlink:label="lab_hcp_DebtInstrumentPeriodOfExtension_615A0044CB5D9A8EBFB6BDBF6DA576FD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Length of debt instrument extension period</link:label>
    <link:label id="lab_hcp_DebtInstrumentPeriodOfExtension_615A0044CB5D9A8EBFB6BDBF6DA576FD_label_en-US" xlink:label="lab_hcp_DebtInstrumentPeriodOfExtension_615A0044CB5D9A8EBFB6BDBF6DA576FD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Period of Extension</link:label>
    <link:label id="lab_hcp_DebtInstrumentPeriodOfExtension_615A0044CB5D9A8EBFB6BDBF6DA576FD_documentation_en-US" xlink:label="lab_hcp_DebtInstrumentPeriodOfExtension_615A0044CB5D9A8EBFB6BDBF6DA576FD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the length of the debt instrument extension period.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_DebtInstrumentPeriodOfExtension" xlink:label="loc_hcp_DebtInstrumentPeriodOfExtension_615A0044CB5D9A8EBFB6BDBF6DA576FD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_DebtInstrumentPeriodOfExtension_615A0044CB5D9A8EBFB6BDBF6DA576FD" xlink:to="lab_hcp_DebtInstrumentPeriodOfExtension_615A0044CB5D9A8EBFB6BDBF6DA576FD" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_B668A7A8BB747A6937F0BDBF6DA58B72_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_B668A7A8BB747A6937F0BDBF6DA58B72" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Debt instrument, basis spread on variable rate (as a percent)</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_B668A7A8BB747A6937F0BDBF6DA58B72_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_B668A7A8BB747A6937F0BDBF6DA58B72" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Basis Spread on Variable Rate</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:label="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_B668A7A8BB747A6937F0BDBF6DA58B72" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_B668A7A8BB747A6937F0BDBF6DA58B72" xlink:to="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_B668A7A8BB747A6937F0BDBF6DA58B72" xlink:type="arc" />
    <link:label id="lab_us-gaap_LineOfCreditFacilityCommitmentFeePercentage_1BFE8134231EF8A443CABDBF6DA5484E_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityCommitmentFeePercentage_1BFE8134231EF8A443CABDBF6DA5484E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt instrument, facility fee (as a percent)</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityCommitmentFeePercentage_1BFE8134231EF8A443CABDBF6DA5484E_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityCommitmentFeePercentage_1BFE8134231EF8A443CABDBF6DA5484E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Commitment Fee Percentage</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LineOfCreditFacilityCommitmentFeePercentage" xlink:label="loc_us-gaap_LineOfCreditFacilityCommitmentFeePercentage_1BFE8134231EF8A443CABDBF6DA5484E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityCommitmentFeePercentage_1BFE8134231EF8A443CABDBF6DA5484E" xlink:to="lab_us-gaap_LineOfCreditFacilityCommitmentFeePercentage_1BFE8134231EF8A443CABDBF6DA5484E" xlink:type="arc" />
    <link:label id="lab_hcp_LineOfCreditFacilityAdditionalAvailableBorrowingCapacityMaximum_A7191C27666C853562D9BDBF6DA6CCF5_terseLabel_en-US" xlink:label="lab_hcp_LineOfCreditFacilityAdditionalAvailableBorrowingCapacityMaximum_A7191C27666C853562D9BDBF6DA6CCF5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Line of credit facility additional aggregate amount, maximum</link:label>
    <link:label id="lab_hcp_LineOfCreditFacilityAdditionalAvailableBorrowingCapacityMaximum_A7191C27666C853562D9BDBF6DA6CCF5_label_en-US" xlink:label="lab_hcp_LineOfCreditFacilityAdditionalAvailableBorrowingCapacityMaximum_A7191C27666C853562D9BDBF6DA6CCF5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit, Facility Additional Available Borrowing Capacity Maximum</link:label>
    <link:label id="lab_hcp_LineOfCreditFacilityAdditionalAvailableBorrowingCapacityMaximum_A7191C27666C853562D9BDBF6DA6CCF5_documentation_en-US" xlink:label="lab_hcp_LineOfCreditFacilityAdditionalAvailableBorrowingCapacityMaximum_A7191C27666C853562D9BDBF6DA6CCF5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This element represents the maximum additional borrowing capacity available under the credit facility, subject to customary conditions.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_LineOfCreditFacilityAdditionalAvailableBorrowingCapacityMaximum" xlink:label="loc_hcp_LineOfCreditFacilityAdditionalAvailableBorrowingCapacityMaximum_A7191C27666C853562D9BDBF6DA6CCF5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_LineOfCreditFacilityAdditionalAvailableBorrowingCapacityMaximum_A7191C27666C853562D9BDBF6DA6CCF5" xlink:to="lab_hcp_LineOfCreditFacilityAdditionalAvailableBorrowingCapacityMaximum_A7191C27666C853562D9BDBF6DA6CCF5" xlink:type="arc" />
    <link:label id="lab_us-gaap_LineOfCredit_39C3B696C46B1322B837BDBF6DA60BA8_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCredit_39C3B696C46B1322B837BDBF6DA60BA8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bank line of credit</link:label>
    <link:label id="lab_us-gaap_LineOfCredit_39C3B696C46B1322B837BDBF6DA60BA8_label_en-US" xlink:label="lab_us-gaap_LineOfCredit_39C3B696C46B1322B837BDBF6DA60BA8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Line of Credit</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LineOfCredit" xlink:label="loc_us-gaap_LineOfCredit_39C3B696C46B1322B837BDBF6DA60BA8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCredit_39C3B696C46B1322B837BDBF6DA60BA8" xlink:to="lab_us-gaap_LineOfCredit_39C3B696C46B1322B837BDBF6DA60BA8" xlink:type="arc" />
    <link:label id="lab_us-gaap_RepaymentsOfLinesOfCredit_81E8F1739D042D7CA1C2BDBF6DA63D17_terseLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfLinesOfCredit_81E8F1739D042D7CA1C2BDBF6DA63D17" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repayment under bank line of credit</link:label>
    <link:label id="lab_us-gaap_RepaymentsOfLinesOfCredit_81E8F1739D042D7CA1C2BDBF6DA63D17_label_en-US" xlink:label="lab_us-gaap_RepaymentsOfLinesOfCredit_81E8F1739D042D7CA1C2BDBF6DA63D17" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments of Lines of Credit</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_RepaymentsOfLinesOfCredit" xlink:label="loc_us-gaap_RepaymentsOfLinesOfCredit_81E8F1739D042D7CA1C2BDBF6DA63D17" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepaymentsOfLinesOfCredit_81E8F1739D042D7CA1C2BDBF6DA63D17" xlink:to="lab_us-gaap_RepaymentsOfLinesOfCredit_81E8F1739D042D7CA1C2BDBF6DA63D17" xlink:type="arc" />
    <link:label id="lab_us-gaap_LoansPayableToBank_BDE73DBEF7087881802FBDBF6DA6CB2E_verboseLabel_en-US" xlink:label="lab_us-gaap_LoansPayableToBank_BDE73DBEF7087881802FBDBF6DA6CB2E" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Outstanding balance on term loan</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LoansPayableToBank" xlink:label="loc_us-gaap_LoansPayableToBank_BDE73DBEF7087881802FBDBF6DA6CB2E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansPayableToBank_BDE73DBEF7087881802FBDBF6DA6CB2E" xlink:to="lab_us-gaap_LoansPayableToBank_BDE73DBEF7087881802FBDBF6DA6CB2E" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromBankDebt_4F6FA387B7184C5FBEF2BDBF6DA7D624_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromBankDebt_4F6FA387B7184C5FBEF2BDBF6DA7D624" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issuance and borrowings of debt, excluding bank line of credit</link:label>
    <link:label id="lab_us-gaap_ProceedsFromBankDebt_4F6FA387B7184C5FBEF2BDBF6DA7D624_label_en-US" xlink:label="lab_us-gaap_ProceedsFromBankDebt_4F6FA387B7184C5FBEF2BDBF6DA7D624" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Bank Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ProceedsFromBankDebt" xlink:label="loc_us-gaap_ProceedsFromBankDebt_4F6FA387B7184C5FBEF2BDBF6DA7D624" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromBankDebt_4F6FA387B7184C5FBEF2BDBF6DA7D624" xlink:to="lab_us-gaap_ProceedsFromBankDebt_4F6FA387B7184C5FBEF2BDBF6DA7D624" xlink:type="arc" />
    <link:label id="lab_hcp_DebtInstrumentCovenantDebtToAssets_2B32CD181653ED462AB9BDBF6DA75A03_terseLabel_en-US" xlink:label="lab_hcp_DebtInstrumentCovenantDebtToAssets_2B32CD181653ED462AB9BDBF6DA75A03" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt instrument, covenant debt to assets (as a percent)</link:label>
    <link:label id="lab_hcp_DebtInstrumentCovenantDebtToAssets_2B32CD181653ED462AB9BDBF6DA75A03_label_en-US" xlink:label="lab_hcp_DebtInstrumentCovenantDebtToAssets_2B32CD181653ED462AB9BDBF6DA75A03" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant Debt to Assets</link:label>
    <link:label id="lab_hcp_DebtInstrumentCovenantDebtToAssets_2B32CD181653ED462AB9BDBF6DA75A03_documentation_en-US" xlink:label="lab_hcp_DebtInstrumentCovenantDebtToAssets_2B32CD181653ED462AB9BDBF6DA75A03" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The limit of the ratio of Consolidated Total Indebtedness to Consolidated Total Asset Value contained in the debt covenants.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_DebtInstrumentCovenantDebtToAssets" xlink:label="loc_hcp_DebtInstrumentCovenantDebtToAssets_2B32CD181653ED462AB9BDBF6DA75A03" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_DebtInstrumentCovenantDebtToAssets_2B32CD181653ED462AB9BDBF6DA75A03" xlink:to="lab_hcp_DebtInstrumentCovenantDebtToAssets_2B32CD181653ED462AB9BDBF6DA75A03" xlink:type="arc" />
    <link:label id="lab_hcp_DebtInstrumentCovenantSecuredDebtToAssets_8CDBE48278B372976525BDBF6DA70847_terseLabel_en-US" xlink:label="lab_hcp_DebtInstrumentCovenantSecuredDebtToAssets_8CDBE48278B372976525BDBF6DA70847" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt instrument, covenant secured debt to assets (as a percent)</link:label>
    <link:label id="lab_hcp_DebtInstrumentCovenantSecuredDebtToAssets_8CDBE48278B372976525BDBF6DA70847_label_en-US" xlink:label="lab_hcp_DebtInstrumentCovenantSecuredDebtToAssets_8CDBE48278B372976525BDBF6DA70847" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant Secured Debt to Assets</link:label>
    <link:label id="lab_hcp_DebtInstrumentCovenantSecuredDebtToAssets_8CDBE48278B372976525BDBF6DA70847_documentation_en-US" xlink:label="lab_hcp_DebtInstrumentCovenantSecuredDebtToAssets_8CDBE48278B372976525BDBF6DA70847" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The limit of the ratio of Secured Debt to Consolidated Total Asset Value contained in the debt covenants.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_DebtInstrumentCovenantSecuredDebtToAssets" xlink:label="loc_hcp_DebtInstrumentCovenantSecuredDebtToAssets_8CDBE48278B372976525BDBF6DA70847" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_DebtInstrumentCovenantSecuredDebtToAssets_8CDBE48278B372976525BDBF6DA70847" xlink:to="lab_hcp_DebtInstrumentCovenantSecuredDebtToAssets_8CDBE48278B372976525BDBF6DA70847" xlink:type="arc" />
    <link:label id="lab_hcp_DebtInstrumentCovenantUnsecuredDebtToUnencumberedAssets_B07A2EDAAADBC1515610BDBF6DA7C27A_terseLabel_en-US" xlink:label="lab_hcp_DebtInstrumentCovenantUnsecuredDebtToUnencumberedAssets_B07A2EDAAADBC1515610BDBF6DA7C27A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt instrument, covenant unsecured debt to unencumbered assets (as a percent)</link:label>
    <link:label id="lab_hcp_DebtInstrumentCovenantUnsecuredDebtToUnencumberedAssets_B07A2EDAAADBC1515610BDBF6DA7C27A_label_en-US" xlink:label="lab_hcp_DebtInstrumentCovenantUnsecuredDebtToUnencumberedAssets_B07A2EDAAADBC1515610BDBF6DA7C27A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant Unsecured Debt to Unencumbered Assets</link:label>
    <link:label id="lab_hcp_DebtInstrumentCovenantUnsecuredDebtToUnencumberedAssets_B07A2EDAAADBC1515610BDBF6DA7C27A_documentation_en-US" xlink:label="lab_hcp_DebtInstrumentCovenantUnsecuredDebtToUnencumberedAssets_B07A2EDAAADBC1515610BDBF6DA7C27A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The limit of the ratio of Unsecured Debt to Consolidated Unencumbered Asset Value contained in the debt covenants.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_DebtInstrumentCovenantUnsecuredDebtToUnencumberedAssets" xlink:label="loc_hcp_DebtInstrumentCovenantUnsecuredDebtToUnencumberedAssets_B07A2EDAAADBC1515610BDBF6DA7C27A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_DebtInstrumentCovenantUnsecuredDebtToUnencumberedAssets_B07A2EDAAADBC1515610BDBF6DA7C27A" xlink:to="lab_hcp_DebtInstrumentCovenantUnsecuredDebtToUnencumberedAssets_B07A2EDAAADBC1515610BDBF6DA7C27A" xlink:type="arc" />
    <link:label id="lab_hcp_DebtInstrumentCovenantFixedChargeRatioMinimum_FEF7D66294652A1533C5BDBF6DA75214_terseLabel_en-US" xlink:label="lab_hcp_DebtInstrumentCovenantFixedChargeRatioMinimum_FEF7D66294652A1533C5BDBF6DA75214" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt instrument, covenant minimum fixed charge coverage ratio</link:label>
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    <link:label id="lab_hcp_Ridea2Member_EBD2C2DEBC42E7E8A7AEBDBF6EB37500_terseLabel_en-US" xlink:label="lab_hcp_Ridea2Member_EBD2C2DEBC42E7E8A7AEBDBF6EB37500" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">RIDEA II</link:label>
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    <link:label id="lab_us-gaap_StockholdersEquity_C1C39B8C7BE4D217DD18BDBF6EB4AD3A_verboseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquity_C1C39B8C7BE4D217DD18BDBF6EB4AD3A" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Cumulative effect adjustment to equity</link:label>
    <link:label id="lab_us-gaap_StockholdersEquity_C1C39B8C7BE4D217DD18BDBF6EB4AD3A_label_en-US" xlink:label="lab_us-gaap_StockholdersEquity_C1C39B8C7BE4D217DD18BDBF6EB4AD3A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity Attributable to Parent</link:label>
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    <link:label id="lab_us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax_90962F21C757098544EEBDBF6EB4B940_terseLabel_en-US" xlink:label="lab_us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax_90962F21C757098544EEBDBF6EB4B940" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tenant recoveries and Resident fees and services</link:label>
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    <link:label id="lab_hcp_EquityMethodInvestmentsChangeInFairValue_2ABB85AA7695FCD7172EBDBF6EB5C124_terseLabel_en-US" xlink:label="lab_hcp_EquityMethodInvestmentsChangeInFairValue_2ABB85AA7695FCD7172EBDBF6EB5C124" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value of equity method investments</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_EquityMethodInvestments" xlink:label="loc_us-gaap_EquityMethodInvestments_B284AA7D093BDDC38289BDBF6EB589BA" xlink:type="locator" />
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    <link:label id="lab_us-gaap_EquityMethodInvestmentOtherThanTemporaryImpairment_AC211678682A1C4D64C4BDBF6EB573CE_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentOtherThanTemporaryImpairment_AC211678682A1C4D64C4BDBF6EB573CE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impairment charge</link:label>
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    <link:label id="lab_us-gaap_RealEstateAbstract_4B3A180E51C45CB31605A42C0B89E664_label_en-US" xlink:label="lab_us-gaap_RealEstateAbstract_4B3A180E51C45CB31605A42C0B89E664" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate [Abstract]</link:label>
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    <link:label id="lab_us-gaap_RealEstateTable_6E2A8E66D9C290E432ECA42C0B89956F_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateTable_6E2A8E66D9C290E432ECA42C0B89956F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate [Table]</link:label>
    <link:label id="lab_us-gaap_RealEstateTable_6E2A8E66D9C290E432ECA42C0B89956F_label_en-US" xlink:label="lab_us-gaap_RealEstateTable_6E2A8E66D9C290E432ECA42C0B89956F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate [Table]</link:label>
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    <link:label id="lab_us-gaap_StatementBusinessSegmentsAxis_AEE4FF13A1BC2A4A5005A42C0B89B1BF_label_en-US" xlink:label="lab_us-gaap_StatementBusinessSegmentsAxis_AEE4FF13A1BC2A4A5005A42C0B89B1BF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segments [Axis]</link:label>
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    <link:label id="lab_us-gaap_SegmentDomain_EBAA1A9C51D3EEC6EF07A42C0B8AA98B_label_en-US" xlink:label="lab_us-gaap_SegmentDomain_EBAA1A9C51D3EEC6EF07A42C0B8AA98B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segments [Domain]</link:label>
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    <link:label id="lab_hcp_SeniorHousingOperatingPortfolioMember_DA67AA5DB1167D0C1BA2A42C0B8AB942_terseLabel_en-US" xlink:label="lab_hcp_SeniorHousingOperatingPortfolioMember_DA67AA5DB1167D0C1BA2A42C0B8AB942" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">SHOP</link:label>
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    <link:label id="lab_hcp_LifescienceMember_D86468B5EC7FF7A2DF86A42C0B8AB047_terseLabel_en-US" xlink:label="lab_hcp_LifescienceMember_D86468B5EC7FF7A2DF86A42C0B8AB047" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Life science</link:label>
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    <link:label id="lab_hcp_BrookdaleMember_FEDE4ADD33EF8852736E615869E23205_terseLabel_en-US" xlink:label="lab_hcp_BrookdaleMember_FEDE4ADD33EF8852736E615869E23205" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Brookdale</link:label>
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    <link:label id="lab_us-gaap_ConcentrationRiskLineItems_EA0A63E8F9D76E74345F615869E380A1_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskLineItems_EA0A63E8F9D76E74345F615869E380A1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk [Line Items]</link:label>
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    <link:label id="lab_hcp_OtherLoansReceivableSecuredMember_78F2374B999A13F2B059A3A33E8F8203_label_en-US" xlink:label="lab_hcp_OtherLoansReceivableSecuredMember_78F2374B999A13F2B059A3A33E8F8203" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Loans Receivable Secured [Member]</link:label>
    <link:label id="lab_hcp_OtherLoansReceivableSecuredMember_78F2374B999A13F2B059A3A33E8F8203_documentation_en-US" xlink:label="lab_hcp_OtherLoansReceivableSecuredMember_78F2374B999A13F2B059A3A33E8F8203" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents other secured loans receivable not otherwise specified in the taxonomy.</link:label>
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    <link:label id="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems_BAD47F83D9BF99E0B27DA3A33E8FB213_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems_BAD47F83D9BF99E0B27DA3A33E8FB213" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loans Receivable:</link:label>
    <link:label id="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems_BAD47F83D9BF99E0B27DA3A33E8FB213_label_en-US" xlink:label="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems_BAD47F83D9BF99E0B27DA3A33E8FB213" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts, Notes, Loans and Financing Receivable [Line Items]</link:label>
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsNotesAndLoansReceivableLineItems_BAD47F83D9BF99E0B27DA3A33E8FB213" xlink:to="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems_BAD47F83D9BF99E0B27DA3A33E8FB213" xlink:type="arc" />
    <link:label id="lab_hcp_LoansReceivableGrossCarryingAmountMezzanine_3855D4326AC8F6C1530CA3A33E90D73E_terseLabel_en-US" xlink:label="lab_hcp_LoansReceivableGrossCarryingAmountMezzanine_3855D4326AC8F6C1530CA3A33E90D73E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mezzanine</link:label>
    <link:label id="lab_hcp_LoansReceivableGrossCarryingAmountMezzanine_3855D4326AC8F6C1530CA3A33E90D73E_label_en-US" xlink:label="lab_hcp_LoansReceivableGrossCarryingAmountMezzanine_3855D4326AC8F6C1530CA3A33E90D73E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans Receivable, Gross Carrying Amount, Mezzanine</link:label>
    <link:label id="lab_hcp_LoansReceivableGrossCarryingAmountMezzanine_3855D4326AC8F6C1530CA3A33E90D73E_documentation_en-US" xlink:label="lab_hcp_LoansReceivableGrossCarryingAmountMezzanine_3855D4326AC8F6C1530CA3A33E90D73E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The gross carrying amount of loans receivable that are subordinated to receivables held by other entities.</link:label>
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    <link:label id="lab_hcp_LoansReceivableGrossOther_94842636BD48F37FD09CA3A33E904F8B_terseLabel_en-US" xlink:label="lab_hcp_LoansReceivableGrossOther_94842636BD48F37FD09CA3A33E904F8B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loans receivable, other</link:label>
    <link:label id="lab_hcp_LoansReceivableGrossOther_94842636BD48F37FD09CA3A33E904F8B_label_en-US" xlink:label="lab_hcp_LoansReceivableGrossOther_94842636BD48F37FD09CA3A33E904F8B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans Receivable, Gross, Other</link:label>
    <link:label id="lab_hcp_LoansReceivableGrossOther_94842636BD48F37FD09CA3A33E904F8B_documentation_en-US" xlink:label="lab_hcp_LoansReceivableGrossOther_94842636BD48F37FD09CA3A33E904F8B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The gross carrying amount of loan receivable classified as other.</link:label>
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    <link:label id="lab_us-gaap_UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums_B71D4D27417AED51A82CA3A33E90A9C8_terseLabel_en-US" xlink:label="lab_us-gaap_UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums_B71D4D27417AED51A82CA3A33E90A9C8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unamortized discounts, fees and costs</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums" xlink:label="loc_us-gaap_UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums_B71D4D27417AED51A82CA3A33E90A9C8" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LoansAndLeasesReceivableAllowance_0E025C472D0547D25462A3A33E91FC2A_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableAllowance_0E025C472D0547D25462A3A33E91FC2A" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Allowance for loan losses</link:label>
    <link:label id="lab_us-gaap_LoansAndLeasesReceivableAllowance_0E025C472D0547D25462A3A33E91FC2A_label_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableAllowance_0E025C472D0547D25462A3A33E91FC2A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans and Leases Receivable, Allowance</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LoansAndLeasesReceivableAllowance" xlink:label="loc_us-gaap_LoansAndLeasesReceivableAllowance_0E025C472D0547D25462A3A33E91FC2A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansAndLeasesReceivableAllowance_0E025C472D0547D25462A3A33E91FC2A" xlink:to="lab_us-gaap_LoansAndLeasesReceivableAllowance_0E025C472D0547D25462A3A33E91FC2A" xlink:type="arc" />
    <link:label id="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount_ADFBB2AE954EA2C10B91A3A33E914C87_totalLabel_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount_ADFBB2AE954EA2C10B91A3A33E914C87" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Loans receivable, net</link:label>
    <link:label id="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount_ADFBB2AE954EA2C10B91A3A33E914C87_label_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount_ADFBB2AE954EA2C10B91A3A33E914C87" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans and Leases Receivable, Net Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LoansAndLeasesReceivableNetReportedAmount" xlink:label="loc_us-gaap_LoansAndLeasesReceivableNetReportedAmount_ADFBB2AE954EA2C10B91A3A33E914C87" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansAndLeasesReceivableNetReportedAmount_ADFBB2AE954EA2C10B91A3A33E914C87" xlink:to="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount_ADFBB2AE954EA2C10B91A3A33E914C87" xlink:type="arc" />
    <link:label id="lab_hcp_LoansandLeasesReceivableRemainingCommitments_6E5E5AE906052CC6C7BFA3F1762D977E_terseLabel_en-US" xlink:label="lab_hcp_LoansandLeasesReceivableRemainingCommitments_6E5E5AE906052CC6C7BFA3F1762D977E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Remaining loans receivable commitments</link:label>
    <link:label id="lab_hcp_LoansandLeasesReceivableRemainingCommitments_6E5E5AE906052CC6C7BFA3F1762D977E_label_en-US" xlink:label="lab_hcp_LoansandLeasesReceivableRemainingCommitments_6E5E5AE906052CC6C7BFA3F1762D977E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans and Leases Receivable, Remaining Commitments</link:label>
    <link:label id="lab_hcp_LoansandLeasesReceivableRemainingCommitments_6E5E5AE906052CC6C7BFA3F1762D977E_documentation_en-US" xlink:label="lab_hcp_LoansandLeasesReceivableRemainingCommitments_6E5E5AE906052CC6C7BFA3F1762D977E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loans and Leases Receivable, Remaining Commitments</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_LoansandLeasesReceivableRemainingCommitments" xlink:label="loc_hcp_LoansandLeasesReceivableRemainingCommitments_6E5E5AE906052CC6C7BFA3F1762D977E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_LoansandLeasesReceivableRemainingCommitments_6E5E5AE906052CC6C7BFA3F1762D977E" xlink:to="lab_hcp_LoansandLeasesReceivableRemainingCommitments_6E5E5AE906052CC6C7BFA3F1762D977E" xlink:type="arc" />
    <link:label id="lab_us-gaap_LoansAndLeasesReceivableCommitmentsFixedRates_28758C11C0BA68366DDAA3A33E91CC41_terseLabel_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableCommitmentsFixedRates_28758C11C0BA68366DDAA3A33E91CC41" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loans receivable commitments</link:label>
    <link:label id="lab_us-gaap_LoansAndLeasesReceivableCommitmentsFixedRates_28758C11C0BA68366DDAA3A33E91CC41_label_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableCommitmentsFixedRates_28758C11C0BA68366DDAA3A33E91CC41" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans and Leases Receivable, Commitments, Fixed Rates</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LoansAndLeasesReceivableCommitmentsFixedRates" xlink:label="loc_us-gaap_LoansAndLeasesReceivableCommitmentsFixedRates_28758C11C0BA68366DDAA3A33E91CC41" xlink:type="locator" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_RisksAndUncertaintiesAbstract" xlink:label="loc_us-gaap_RisksAndUncertaintiesAbstract_DE4E1D2111ECB89C89086158698B1E18" xlink:type="locator" />
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    <link:label id="lab_hcp_CcrcJvInvestmentMember_DDF82F0B948C28990BB1CE27498B8521_terseLabel_en-US" xlink:label="lab_hcp_CcrcJvInvestmentMember_DDF82F0B948C28990BB1CE27498B8521" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">CCRC JV</link:label>
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    <link:label id="lab_hcp_NumberOfPropertiesPotentiallySoldOrTransitionedOut_1F8F160B084EAE6F94BCCE27498D9CB0_terseLabel_en-US" xlink:label="lab_hcp_NumberOfPropertiesPotentiallySoldOrTransitionedOut_1F8F160B084EAE6F94BCCE27498D9CB0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Properties with right to sell or transition to other operator</link:label>
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    <link:label id="lab_hcp_NumberOfPropertiesPotentiallySoldOrTransitionedOut_1F8F160B084EAE6F94BCCE27498D9CB0_documentation_en-US" xlink:label="lab_hcp_NumberOfPropertiesPotentiallySoldOrTransitionedOut_1F8F160B084EAE6F94BCCE27498D9CB0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Properties Potentially Sold Or Transitioned Out</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_NumberOfPropertiesPotentiallySoldOrTransitionedOut" xlink:label="loc_hcp_NumberOfPropertiesPotentiallySoldOrTransitionedOut_1F8F160B084EAE6F94BCCE27498D9CB0" xlink:type="locator" />
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    <link:label id="lab_hcp_OperatingLeasesLeaseSaleOrTransferAllowablePeriod_EFCF732088C0A04CE8CFCE27498EB822_terseLabel_en-US" xlink:label="lab_hcp_OperatingLeasesLeaseSaleOrTransferAllowablePeriod_EFCF732088C0A04CE8CFCE27498EB822" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Right to sell and transfer period for operating leases</link:label>
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    <link:label id="lab_hcp_OperatingLeasePropertiesPotentiallySoldOrTransitionedOutTerm_899EB677A13D6A446FD1CE27498E4CAE_terseLabel_en-US" xlink:label="lab_hcp_OperatingLeasePropertiesPotentiallySoldOrTransitionedOutTerm_899EB677A13D6A446FD1CE27498E4CAE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Properties transitioned to cash flow leases expiration period</link:label>
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    <link:label id="lab_hcp_OperatingLeaseRentalConcessions_C525535434349EBFC24ACE27498EB91E_terseLabel_en-US" xlink:label="lab_hcp_OperatingLeaseRentalConcessions_C525535434349EBFC24ACE27498EB91E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amount of annual rent cut</link:label>
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    <link:label id="lab_hcp_OperatingLeaseNumberOfPropertiesWithRentConcessions_308AE8988DC79B1B67CECE27498EF681_terseLabel_en-US" xlink:label="lab_hcp_OperatingLeaseNumberOfPropertiesWithRentConcessions_308AE8988DC79B1B67CECE27498EF681" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of assets with annual rent cut</link:label>
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    <link:label id="lab_hcp_DispositionOfPropertiesSoldNumber_E1554C539CDFCC7AFA7BCE27498E4B22_verboseLabel_en-US" xlink:label="lab_hcp_DispositionOfPropertiesSoldNumber_E1554C539CDFCC7AFA7BCE27498E4B22" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Number of properties sold</link:label>
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    <link:label id="lab_hcp_NumberOfAssetsSoldOrTransited_61E195EB14A9F8A4800CCE27499077B5_terseLabel_en-US" xlink:label="lab_hcp_NumberOfAssetsSoldOrTransited_61E195EB14A9F8A4800CCE27499077B5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of assets transitioned out</link:label>
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    <link:label id="lab_us-gaap_LeasesCapitalAbstract_F21EE3743A891A8DB007A3A33EB6522A_label_en-US" xlink:label="lab_us-gaap_LeasesCapitalAbstract_F21EE3743A891A8DB007A3A33EB6522A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Leases, Capital [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LeasesCapitalAbstract" xlink:label="loc_us-gaap_LeasesCapitalAbstract_F21EE3743A891A8DB007A3A33EB6522A" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LessorLeaseDescriptionTable_36DFC8D2FC14537BFB67A3A33EB667D1_terseLabel_en-US" xlink:label="lab_us-gaap_LessorLeaseDescriptionTable_36DFC8D2FC14537BFB67A3A33EB667D1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lessor, Lease, Description [Table]</link:label>
    <link:label id="lab_us-gaap_LessorLeaseDescriptionTable_36DFC8D2FC14537BFB67A3A33EB667D1_label_en-US" xlink:label="lab_us-gaap_LessorLeaseDescriptionTable_36DFC8D2FC14537BFB67A3A33EB667D1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Lease, Description [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LessorLeaseDescriptionTable" xlink:label="loc_us-gaap_LessorLeaseDescriptionTable_36DFC8D2FC14537BFB67A3A33EB667D1" xlink:type="locator" />
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    <link:label id="lab_hcp_OtherNonReportingSegmentMember_A2C141EA5C8DC76BD252A3A33EB75459_terseLabel_en-US" xlink:label="lab_hcp_OtherNonReportingSegmentMember_A2C141EA5C8DC76BD252A3A33EB75459" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other non-reportable segments</link:label>
    <link:label id="lab_hcp_OtherNonReportingSegmentMember_A2C141EA5C8DC76BD252A3A33EB75459_label_en-US" xlink:label="lab_hcp_OtherNonReportingSegmentMember_A2C141EA5C8DC76BD252A3A33EB75459" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Non-Reporting Segment [Member]</link:label>
    <link:label id="lab_hcp_OtherNonReportingSegmentMember_A2C141EA5C8DC76BD252A3A33EB75459_documentation_en-US" xlink:label="lab_hcp_OtherNonReportingSegmentMember_A2C141EA5C8DC76BD252A3A33EB75459" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the information pertaining to other non-reporting segment</link:label>
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    <link:label id="lab_us-gaap_FinancialInstrumentPerformanceStatusAxis_C442693B4DFE1159637BA3A33EB72718_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialInstrumentPerformanceStatusAxis_C442693B4DFE1159637BA3A33EB72718" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial Instrument Performance Status [Axis]</link:label>
    <link:label id="lab_us-gaap_FinancialInstrumentPerformanceStatusAxis_C442693B4DFE1159637BA3A33EB72718_label_en-US" xlink:label="lab_us-gaap_FinancialInstrumentPerformanceStatusAxis_C442693B4DFE1159637BA3A33EB72718" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Instrument Performance Status [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FinancialInstrumentPerformanceStatusAxis" xlink:label="loc_us-gaap_FinancialInstrumentPerformanceStatusAxis_C442693B4DFE1159637BA3A33EB72718" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialInstrumentPerformanceStatusAxis_C442693B4DFE1159637BA3A33EB72718" xlink:to="lab_us-gaap_FinancialInstrumentPerformanceStatusAxis_C442693B4DFE1159637BA3A33EB72718" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinancialInstrumentPerformanceStatusDomain_737E456D2E4D7327E463A3A33EB71DE2_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialInstrumentPerformanceStatusDomain_737E456D2E4D7327E463A3A33EB71DE2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial Instrument Performance Status [Domain]</link:label>
    <link:label id="lab_us-gaap_FinancialInstrumentPerformanceStatusDomain_737E456D2E4D7327E463A3A33EB71DE2_label_en-US" xlink:label="lab_us-gaap_FinancialInstrumentPerformanceStatusDomain_737E456D2E4D7327E463A3A33EB71DE2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Instrument Performance Status [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FinancialInstrumentPerformanceStatusDomain" xlink:label="loc_us-gaap_FinancialInstrumentPerformanceStatusDomain_737E456D2E4D7327E463A3A33EB71DE2" xlink:type="locator" />
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    <link:label id="lab_us-gaap_PerformingFinancingReceivableMember_78C483667735B559EA22A3A33EB8D952_terseLabel_en-US" xlink:label="lab_us-gaap_PerformingFinancingReceivableMember_78C483667735B559EA22A3A33EB8D952" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performing Loans</link:label>
    <link:label id="lab_us-gaap_PerformingFinancingReceivableMember_78C483667735B559EA22A3A33EB8D952_label_en-US" xlink:label="lab_us-gaap_PerformingFinancingReceivableMember_78C483667735B559EA22A3A33EB8D952" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performing Financial Instruments [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PerformingFinancingReceivableMember" xlink:label="loc_us-gaap_PerformingFinancingReceivableMember_78C483667735B559EA22A3A33EB8D952" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PerformingFinancingReceivableMember_78C483667735B559EA22A3A33EB8D952" xlink:to="lab_us-gaap_PerformingFinancingReceivableMember_78C483667735B559EA22A3A33EB8D952" xlink:type="arc" />
    <link:label id="lab_hcp_WatchListFinancingReceivableMember_C56310F11D7D399512DEA3A33EB828F5_terseLabel_en-US" xlink:label="lab_hcp_WatchListFinancingReceivableMember_C56310F11D7D399512DEA3A33EB828F5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Watch List DFLs</link:label>
    <link:label id="lab_hcp_WatchListFinancingReceivableMember_C56310F11D7D399512DEA3A33EB828F5_label_en-US" xlink:label="lab_hcp_WatchListFinancingReceivableMember_C56310F11D7D399512DEA3A33EB828F5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Watch List Financing Receivable [Member]</link:label>
    <link:label id="lab_hcp_WatchListFinancingReceivableMember_C56310F11D7D399512DEA3A33EB828F5_documentation_en-US" xlink:label="lab_hcp_WatchListFinancingReceivableMember_C56310F11D7D399512DEA3A33EB828F5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents a financing receivable that is being monitored closely in order to spot irregularities.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_WatchListFinancingReceivableMember" xlink:label="loc_hcp_WatchListFinancingReceivableMember_C56310F11D7D399512DEA3A33EB828F5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_WatchListFinancingReceivableMember_C56310F11D7D399512DEA3A33EB828F5" xlink:to="lab_hcp_WatchListFinancingReceivableMember_C56310F11D7D399512DEA3A33EB828F5" xlink:type="arc" />
    <link:label id="lab_hcp_WorkoutFinancingReceivableMember_D50010F216EE408365EFA3A33EB8DC50_terseLabel_en-US" xlink:label="lab_hcp_WorkoutFinancingReceivableMember_D50010F216EE408365EFA3A33EB8DC50" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Workout DFLs</link:label>
    <link:label id="lab_hcp_WorkoutFinancingReceivableMember_D50010F216EE408365EFA3A33EB8DC50_label_en-US" xlink:label="lab_hcp_WorkoutFinancingReceivableMember_D50010F216EE408365EFA3A33EB8DC50" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Workout Financing Receivable [Member]</link:label>
    <link:label id="lab_hcp_WorkoutFinancingReceivableMember_D50010F216EE408365EFA3A33EB8DC50_documentation_en-US" xlink:label="lab_hcp_WorkoutFinancingReceivableMember_D50010F216EE408365EFA3A33EB8DC50" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Workout Financing Receivable [Member]</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_WorkoutFinancingReceivableMember" xlink:label="loc_hcp_WorkoutFinancingReceivableMember_D50010F216EE408365EFA3A33EB8DC50" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_WorkoutFinancingReceivableMember_D50010F216EE408365EFA3A33EB8DC50" xlink:to="lab_hcp_WorkoutFinancingReceivableMember_D50010F216EE408365EFA3A33EB8DC50" xlink:type="arc" />
    <link:label id="lab_invest_InvestmentAxis_AACC5829CB6BC08C18BAA3A33EB8BE53_terseLabel_en-US" xlink:label="lab_invest_InvestmentAxis_AACC5829CB6BC08C18BAA3A33EB8BE53" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment [Axis]</link:label>
    <link:label id="lab_invest_InvestmentAxis_AACC5829CB6BC08C18BAA3A33EB8BE53_label_en-US" xlink:label="lab_invest_InvestmentAxis_AACC5829CB6BC08C18BAA3A33EB8BE53" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_InvestmentAxis" xlink:label="loc_invest_InvestmentAxis_AACC5829CB6BC08C18BAA3A33EB8BE53" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_invest_InvestmentAxis_AACC5829CB6BC08C18BAA3A33EB8BE53" xlink:to="lab_invest_InvestmentAxis_AACC5829CB6BC08C18BAA3A33EB8BE53" xlink:type="arc" />
    <link:label id="lab_invest_InvestmentDomain_68A85B4E9DD161100635A3A33EB89CA5_terseLabel_en-US" xlink:label="lab_invest_InvestmentDomain_68A85B4E9DD161100635A3A33EB89CA5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment [Domain]</link:label>
    <link:label id="lab_invest_InvestmentDomain_68A85B4E9DD161100635A3A33EB89CA5_label_en-US" xlink:label="lab_invest_InvestmentDomain_68A85B4E9DD161100635A3A33EB89CA5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_InvestmentDomain" xlink:label="loc_invest_InvestmentDomain_68A85B4E9DD161100635A3A33EB89CA5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_invest_InvestmentDomain_68A85B4E9DD161100635A3A33EB89CA5" xlink:to="lab_invest_InvestmentDomain_68A85B4E9DD161100635A3A33EB89CA5" xlink:type="arc" />
    <link:label id="lab_hcp_DFLPortfolioMember_F6721CD8C4D6311BF26CA3A33EB97150_terseLabel_en-US" xlink:label="lab_hcp_DFLPortfolioMember_F6721CD8C4D6311BF26CA3A33EB97150" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">DFL Portfolio</link:label>
    <link:label id="lab_hcp_DFLPortfolioMember_F6721CD8C4D6311BF26CA3A33EB97150_label_en-US" xlink:label="lab_hcp_DFLPortfolioMember_F6721CD8C4D6311BF26CA3A33EB97150" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">D F L Portfolio [Member]</link:label>
    <link:label id="lab_hcp_DFLPortfolioMember_F6721CD8C4D6311BF26CA3A33EB97150_documentation_en-US" xlink:label="lab_hcp_DFLPortfolioMember_F6721CD8C4D6311BF26CA3A33EB97150" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">A portfolio of direct financing leases that are being accounted for on a cash basis.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_DFLPortfolioMember" xlink:label="loc_hcp_DFLPortfolioMember_F6721CD8C4D6311BF26CA3A33EB97150" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_DFLPortfolioMember_F6721CD8C4D6311BF26CA3A33EB97150" xlink:to="lab_hcp_DFLPortfolioMember_F6721CD8C4D6311BF26CA3A33EB97150" xlink:type="arc" />
    <link:label id="lab_us-gaap_LessorLeaseDescriptionLineItems_2A31E1D51CA2007CF6E6A3A33EB9EB20_terseLabel_en-US" xlink:label="lab_us-gaap_LessorLeaseDescriptionLineItems_2A31E1D51CA2007CF6E6A3A33EB9EB20" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lessor, Lease, Description [Line Items]</link:label>
    <link:label id="lab_us-gaap_LessorLeaseDescriptionLineItems_2A31E1D51CA2007CF6E6A3A33EB9EB20_label_en-US" xlink:label="lab_us-gaap_LessorLeaseDescriptionLineItems_2A31E1D51CA2007CF6E6A3A33EB9EB20" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Lease, Description [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LessorLeaseDescriptionLineItems" xlink:label="loc_us-gaap_LessorLeaseDescriptionLineItems_2A31E1D51CA2007CF6E6A3A33EB9EB20" xlink:type="locator" />
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    <link:label id="lab_us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesAbstract_4ED2A7EA36532383316BA3A33EB98CF1_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesAbstract_4ED2A7EA36532383316BA3A33EB98CF1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net Investment in Direct Financing Leases</link:label>
    <link:label id="lab_us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesAbstract_4ED2A7EA36532383316BA3A33EB98CF1_label_en-US" xlink:label="lab_us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesAbstract_4ED2A7EA36532383316BA3A33EB98CF1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Leases, Net Investment in Direct Financing Leases [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesAbstract" xlink:label="loc_us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesAbstract_4ED2A7EA36532383316BA3A33EB98CF1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesAbstract_4ED2A7EA36532383316BA3A33EB98CF1" xlink:to="lab_us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesAbstract_4ED2A7EA36532383316BA3A33EB98CF1" xlink:type="arc" />
    <link:label id="lab_hcp_NetInvestmentInDirectFinancingAndSalesTypeLeasesAsPercentage_C76F667FD2E407B67A38A3A33EBA4A4D_terseLabel_en-US" xlink:label="lab_hcp_NetInvestmentInDirectFinancingAndSalesTypeLeasesAsPercentage_C76F667FD2E407B67A38A3A33EBA4A4D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of DFL Portfolio</link:label>
    <link:label id="lab_hcp_NetInvestmentInDirectFinancingAndSalesTypeLeasesAsPercentage_C76F667FD2E407B67A38A3A33EBA4A4D_label_en-US" xlink:label="lab_hcp_NetInvestmentInDirectFinancingAndSalesTypeLeasesAsPercentage_C76F667FD2E407B67A38A3A33EBA4A4D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Investment in Direct Financing and Sales Type Leases as Percentage</link:label>
    <link:label id="lab_hcp_NetInvestmentInDirectFinancingAndSalesTypeLeasesAsPercentage_C76F667FD2E407B67A38A3A33EBA4A4D_documentation_en-US" xlink:label="lab_hcp_NetInvestmentInDirectFinancingAndSalesTypeLeasesAsPercentage_C76F667FD2E407B67A38A3A33EBA4A4D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the net amount of investment in direct financing and sales-type leases held in portfolio as a percentage of aggregate direct financing and sales-type leases.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_NetInvestmentInDirectFinancingAndSalesTypeLeasesAsPercentage" xlink:label="loc_hcp_NetInvestmentInDirectFinancingAndSalesTypeLeasesAsPercentage_C76F667FD2E407B67A38A3A33EBA4A4D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_NetInvestmentInDirectFinancingAndSalesTypeLeasesAsPercentage_C76F667FD2E407B67A38A3A33EBA4A4D" xlink:to="lab_hcp_NetInvestmentInDirectFinancingAndSalesTypeLeasesAsPercentage_C76F667FD2E407B67A38A3A33EBA4A4D" xlink:type="arc" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FairValueHedgeLiabilitiesAtFairValue" xlink:label="loc_us-gaap_FairValueHedgeLiabilitiesAtFairValue_B005BE09637EF42C430BE92416DE0742" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueHedgeLiabilitiesAtFairValue_B005BE09637EF42C430BE92416DE0742" xlink:to="lab_us-gaap_FairValueHedgeLiabilitiesAtFairValue_B005BE09637EF42C430BE92416DE0742" xlink:type="arc" />
    <link:label id="lab_us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_8BA8749B459A81609ECC615867A3AAF8_terseLabel_en-US" xlink:label="lab_us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_8BA8749B459A81609ECC615867A3AAF8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Concentration of Credit Risk</link:label>
    <link:label id="lab_us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_8BA8749B459A81609ECC615867A3AAF8_label_en-US" xlink:label="lab_us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_8BA8749B459A81609ECC615867A3AAF8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedules of Concentration of Risk, by Risk Factor [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock" xlink:label="loc_us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_8BA8749B459A81609ECC615867A3AAF8" xlink:type="locator" />
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    <link:label id="lab_hcp_U.K.JVMember_4D43C2136904CAA31A98BDBF6E22DA0B_terseLabel_en-US" xlink:label="lab_hcp_U.K.JVMember_4D43C2136904CAA31A98BDBF6E22DA0B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">UK JV</link:label>
    <link:label id="lab_hcp_U.K.JVMember_4D43C2136904CAA31A98BDBF6E22DA0B_label_en-US" xlink:label="lab_hcp_U.K.JVMember_4D43C2136904CAA31A98BDBF6E22DA0B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">U.K. JV [Member]</link:label>
    <link:label id="lab_hcp_U.K.JVMember_4D43C2136904CAA31A98BDBF6E22DA0B_documentation_en-US" xlink:label="lab_hcp_U.K.JVMember_4D43C2136904CAA31A98BDBF6E22DA0B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">U.K. JV [Member]</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_U.K.JVMember" xlink:label="loc_hcp_U.K.JVMember_4D43C2136904CAA31A98BDBF6E22DA0B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_U.K.JVMember_4D43C2136904CAA31A98BDBF6E22DA0B" xlink:to="lab_hcp_U.K.JVMember_4D43C2136904CAA31A98BDBF6E22DA0B" xlink:type="arc" />
    <link:label id="lab_hcp_LifeScienceJVsMember_08F298A0AD8E3F7734B5BDBF6E22258C_terseLabel_en-US" xlink:label="lab_hcp_LifeScienceJVsMember_08F298A0AD8E3F7734B5BDBF6E22258C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Life Science JVs</link:label>
    <link:label id="lab_hcp_LifeScienceJVsMember_08F298A0AD8E3F7734B5BDBF6E22258C_label_en-US" xlink:label="lab_hcp_LifeScienceJVsMember_08F298A0AD8E3F7734B5BDBF6E22258C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Life Science JVs [Member]</link:label>
    <link:label id="lab_hcp_LifeScienceJVsMember_08F298A0AD8E3F7734B5BDBF6E22258C_documentation_en-US" xlink:label="lab_hcp_LifeScienceJVsMember_08F298A0AD8E3F7734B5BDBF6E22258C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to HCP Life Science, an unconsolidated joint venture of the entity.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_LifeScienceJVsMember" xlink:label="loc_hcp_LifeScienceJVsMember_08F298A0AD8E3F7734B5BDBF6E22258C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_LifeScienceJVsMember_08F298A0AD8E3F7734B5BDBF6E22258C" xlink:to="lab_hcp_LifeScienceJVsMember_08F298A0AD8E3F7734B5BDBF6E22258C" xlink:type="arc" />
    <link:label id="lab_hcp_TorreyPinesScienceCenterMember_D798A874718DE7DB1329BDBF6E23FF9F_terseLabel_en-US" xlink:label="lab_hcp_TorreyPinesScienceCenterMember_D798A874718DE7DB1329BDBF6E23FF9F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Torrey Pines Science Center, LP</link:label>
    <link:label id="lab_hcp_TorreyPinesScienceCenterMember_D798A874718DE7DB1329BDBF6E23FF9F_label_en-US" xlink:label="lab_hcp_TorreyPinesScienceCenterMember_D798A874718DE7DB1329BDBF6E23FF9F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Torrey Pines Science Center [Member]</link:label>
    <link:label id="lab_hcp_TorreyPinesScienceCenterMember_D798A874718DE7DB1329BDBF6E23FF9F_documentation_en-US" xlink:label="lab_hcp_TorreyPinesScienceCenterMember_D798A874718DE7DB1329BDBF6E23FF9F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to Torrey Pines Science Center, LP, an unconsolidated joint venture of the entity.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_TorreyPinesScienceCenterMember" xlink:label="loc_hcp_TorreyPinesScienceCenterMember_D798A874718DE7DB1329BDBF6E23FF9F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_TorreyPinesScienceCenterMember_D798A874718DE7DB1329BDBF6E23FF9F" xlink:to="lab_hcp_TorreyPinesScienceCenterMember_D798A874718DE7DB1329BDBF6E23FF9F" xlink:type="arc" />
    <link:label id="lab_hcp_BritanniaBiotechGatewayLPMember_AC9CDB9742A643C2845FBDBF6E23FEB4_terseLabel_en-US" xlink:label="lab_hcp_BritanniaBiotechGatewayLPMember_AC9CDB9742A643C2845FBDBF6E23FEB4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Britannia Biotech Gateway, LP</link:label>
    <link:label id="lab_hcp_BritanniaBiotechGatewayLPMember_AC9CDB9742A643C2845FBDBF6E23FEB4_label_en-US" xlink:label="lab_hcp_BritanniaBiotechGatewayLPMember_AC9CDB9742A643C2845FBDBF6E23FEB4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Britannia Biotech Gateway L P [Member]</link:label>
    <link:label id="lab_hcp_BritanniaBiotechGatewayLPMember_AC9CDB9742A643C2845FBDBF6E23FEB4_documentation_en-US" xlink:label="lab_hcp_BritanniaBiotechGatewayLPMember_AC9CDB9742A643C2845FBDBF6E23FEB4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to Britannia Biotech Gateway, LP, an unconsolidated joint venture of the entity.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_BritanniaBiotechGatewayLPMember" xlink:label="loc_hcp_BritanniaBiotechGatewayLPMember_AC9CDB9742A643C2845FBDBF6E23FEB4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_BritanniaBiotechGatewayLPMember_AC9CDB9742A643C2845FBDBF6E23FEB4" xlink:to="lab_hcp_BritanniaBiotechGatewayLPMember_AC9CDB9742A643C2845FBDBF6E23FEB4" xlink:type="arc" />
    <link:label id="lab_hcp_LASDKLPMember_3DBBC90052E83B3587DEBDBF6E23D613_terseLabel_en-US" xlink:label="lab_hcp_LASDKLPMember_3DBBC90052E83B3587DEBDBF6E23D613" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">LASDK, LP</link:label>
    <link:label id="lab_hcp_LASDKLPMember_3DBBC90052E83B3587DEBDBF6E23D613_label_en-US" xlink:label="lab_hcp_LASDKLPMember_3DBBC90052E83B3587DEBDBF6E23D613" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">L A S D K L P [Member]</link:label>
    <link:label id="lab_hcp_LASDKLPMember_3DBBC90052E83B3587DEBDBF6E23D613_documentation_en-US" xlink:label="lab_hcp_LASDKLPMember_3DBBC90052E83B3587DEBDBF6E23D613" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to LASDK, LP, an unconsolidated joint venture of the entity.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_LASDKLPMember" xlink:label="loc_hcp_LASDKLPMember_3DBBC90052E83B3587DEBDBF6E23D613" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_LASDKLPMember_3DBBC90052E83B3587DEBDBF6E23D613" xlink:to="lab_hcp_LASDKLPMember_3DBBC90052E83B3587DEBDBF6E23D613" xlink:type="arc" />
    <link:label id="lab_hcp_MbkJvMember_4AF19CD0E056A473A228BDBF6E238FEB_terseLabel_en-US" xlink:label="lab_hcp_MbkJvMember_4AF19CD0E056A473A228BDBF6E238FEB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">MBK JV</link:label>
    <link:label id="lab_hcp_MbkJvMember_4AF19CD0E056A473A228BDBF6E238FEB_label_en-US" xlink:label="lab_hcp_MbkJvMember_4AF19CD0E056A473A228BDBF6E238FEB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mbk Jv [Member]</link:label>
    <link:label id="lab_hcp_MbkJvMember_4AF19CD0E056A473A228BDBF6E238FEB_documentation_en-US" xlink:label="lab_hcp_MbkJvMember_4AF19CD0E056A473A228BDBF6E238FEB" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining to MBK JV, a joint venture in which the entity is an owner.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_MbkJvMember" xlink:label="loc_hcp_MbkJvMember_4AF19CD0E056A473A228BDBF6E238FEB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_MbkJvMember_4AF19CD0E056A473A228BDBF6E238FEB" xlink:to="lab_hcp_MbkJvMember_4AF19CD0E056A473A228BDBF6E238FEB" xlink:type="arc" />
    <link:label id="lab_hcp_DevelopmentJVsMember_926B434C1B5F9866A181BDBF6E2375BB_terseLabel_en-US" xlink:label="lab_hcp_DevelopmentJVsMember_926B434C1B5F9866A181BDBF6E2375BB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Development JVs</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_DevelopmentJVsMember" xlink:label="loc_hcp_DevelopmentJVsMember_926B434C1B5F9866A181BDBF6E2375BB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_DevelopmentJVsMember_926B434C1B5F9866A181BDBF6E2375BB" xlink:to="lab_hcp_DevelopmentJVsMember_926B434C1B5F9866A181BDBF6E2375BB" xlink:type="arc" />
    <link:label id="lab_hcp_VintageIlDevelopmentMember_6FEA1C52CE0CCDCF925FBDBF6E241ACE_terseLabel_en-US" xlink:label="lab_hcp_VintageIlDevelopmentMember_6FEA1C52CE0CCDCF925FBDBF6E241ACE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vintage Park Development JV</link:label>
    <link:label id="lab_hcp_VintageIlDevelopmentMember_6FEA1C52CE0CCDCF925FBDBF6E241ACE_label_en-US" xlink:label="lab_hcp_VintageIlDevelopmentMember_6FEA1C52CE0CCDCF925FBDBF6E241ACE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vintage Il Development [Member]</link:label>
    <link:label id="lab_hcp_VintageIlDevelopmentMember_6FEA1C52CE0CCDCF925FBDBF6E241ACE_documentation_en-US" xlink:label="lab_hcp_VintageIlDevelopmentMember_6FEA1C52CE0CCDCF925FBDBF6E241ACE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining to Vintage IL Development, a variable interest entity.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_VintageIlDevelopmentMember" xlink:label="loc_hcp_VintageIlDevelopmentMember_6FEA1C52CE0CCDCF925FBDBF6E241ACE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_VintageIlDevelopmentMember_6FEA1C52CE0CCDCF925FBDBF6E241ACE" xlink:to="lab_hcp_VintageIlDevelopmentMember_6FEA1C52CE0CCDCF925FBDBF6E241ACE" xlink:type="arc" />
    <link:label id="lab_hcp_WaldwickMember_E335194295D2F0705577BDBF6E2453B3_terseLabel_en-US" xlink:label="lab_hcp_WaldwickMember_E335194295D2F0705577BDBF6E2453B3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Waldwick</link:label>
    <link:label id="lab_hcp_WaldwickMember_E335194295D2F0705577BDBF6E2453B3_label_en-US" xlink:label="lab_hcp_WaldwickMember_E335194295D2F0705577BDBF6E2453B3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Waldwick [Member]</link:label>
    <link:label id="lab_hcp_WaldwickMember_E335194295D2F0705577BDBF6E2453B3_documentation_en-US" xlink:label="lab_hcp_WaldwickMember_E335194295D2F0705577BDBF6E2453B3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Waldwick [Member]</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_WaldwickMember" xlink:label="loc_hcp_WaldwickMember_E335194295D2F0705577BDBF6E2453B3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_WaldwickMember_E335194295D2F0705577BDBF6E2453B3" xlink:to="lab_hcp_WaldwickMember_E335194295D2F0705577BDBF6E2453B3" xlink:type="arc" />
    <link:label id="lab_hcp_OtayRanchMember_088E71921ABA4E185344BDBF6E2435E8_terseLabel_en-US" xlink:label="lab_hcp_OtayRanchMember_088E71921ABA4E185344BDBF6E2435E8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Otay Ranch</link:label>
    <link:label id="lab_hcp_OtayRanchMember_088E71921ABA4E185344BDBF6E2435E8_label_en-US" xlink:label="lab_hcp_OtayRanchMember_088E71921ABA4E185344BDBF6E2435E8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Otay Ranch [Member]</link:label>
    <link:label id="lab_hcp_OtayRanchMember_088E71921ABA4E185344BDBF6E2435E8_documentation_en-US" xlink:label="lab_hcp_OtayRanchMember_088E71921ABA4E185344BDBF6E2435E8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Otay Ranch [Member]</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_OtayRanchMember" xlink:label="loc_hcp_OtayRanchMember_088E71921ABA4E185344BDBF6E2435E8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_OtayRanchMember_088E71921ABA4E185344BDBF6E2435E8" xlink:to="lab_hcp_OtayRanchMember_088E71921ABA4E185344BDBF6E2435E8" xlink:type="arc" />
    <link:label id="lab_hcp_MbkDevelopmentJvMember_50029A88DD21820AB42CBDBF6E24F750_terseLabel_en-US" xlink:label="lab_hcp_MbkDevelopmentJvMember_50029A88DD21820AB42CBDBF6E24F750" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">MBK Development JV</link:label>
    <link:label id="lab_hcp_MbkDevelopmentJvMember_50029A88DD21820AB42CBDBF6E24F750_label_en-US" xlink:label="lab_hcp_MbkDevelopmentJvMember_50029A88DD21820AB42CBDBF6E24F750" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mbk Development Jv [Member]</link:label>
    <link:label id="lab_hcp_MbkDevelopmentJvMember_50029A88DD21820AB42CBDBF6E24F750_documentation_en-US" xlink:label="lab_hcp_MbkDevelopmentJvMember_50029A88DD21820AB42CBDBF6E24F750" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining to MBK Development JV.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_MbkDevelopmentJvMember" xlink:label="loc_hcp_MbkDevelopmentJvMember_50029A88DD21820AB42CBDBF6E24F750" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_MbkDevelopmentJvMember_50029A88DD21820AB42CBDBF6E24F750" xlink:to="lab_hcp_MbkDevelopmentJvMember_50029A88DD21820AB42CBDBF6E24F750" xlink:type="arc" />
    <link:label id="lab_hcp_MedicalOfficeJVsMember_17CBFEF3272D1E090597BDBF6E24528F_terseLabel_en-US" xlink:label="lab_hcp_MedicalOfficeJVsMember_17CBFEF3272D1E090597BDBF6E24528F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Medical Office JVs</link:label>
    <link:label id="lab_hcp_MedicalOfficeJVsMember_17CBFEF3272D1E090597BDBF6E24528F_label_en-US" xlink:label="lab_hcp_MedicalOfficeJVsMember_17CBFEF3272D1E090597BDBF6E24528F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Medical Office JVs [Member]</link:label>
    <link:label id="lab_hcp_MedicalOfficeJVsMember_17CBFEF3272D1E090597BDBF6E24528F_documentation_en-US" xlink:label="lab_hcp_MedicalOfficeJVsMember_17CBFEF3272D1E090597BDBF6E24528F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Medical Office JVs [Member]</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_MedicalOfficeJVsMember" xlink:label="loc_hcp_MedicalOfficeJVsMember_17CBFEF3272D1E090597BDBF6E24528F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_MedicalOfficeJVsMember_17CBFEF3272D1E090597BDBF6E24528F" xlink:to="lab_hcp_MedicalOfficeJVsMember_17CBFEF3272D1E090597BDBF6E24528F" xlink:type="arc" />
    <link:label id="lab_hcp_HCPVenturesIVLLCMember_0118E14D5638F855A869BDBF6E25C03D_terseLabel_en-US" xlink:label="lab_hcp_HCPVenturesIVLLCMember_0118E14D5638F855A869BDBF6E25C03D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">HCP Ventures VI, LLC</link:label>
    <link:label id="lab_hcp_HCPVenturesIVLLCMember_0118E14D5638F855A869BDBF6E25C03D_label_en-US" xlink:label="lab_hcp_HCPVenturesIVLLCMember_0118E14D5638F855A869BDBF6E25C03D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">H C P Ventures IV, LLC [Member]</link:label>
    <link:label id="lab_hcp_HCPVenturesIVLLCMember_0118E14D5638F855A869BDBF6E25C03D_documentation_en-US" xlink:label="lab_hcp_HCPVenturesIVLLCMember_0118E14D5638F855A869BDBF6E25C03D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to HCP Ventures IV, LLC, an unconsolidated joint venture of the entity.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_HCPVenturesIVLLCMember" xlink:label="loc_hcp_HCPVenturesIVLLCMember_0118E14D5638F855A869BDBF6E25C03D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_HCPVenturesIVLLCMember_0118E14D5638F855A869BDBF6E25C03D" xlink:to="lab_hcp_HCPVenturesIVLLCMember_0118E14D5638F855A869BDBF6E25C03D" xlink:type="arc" />
    <link:label id="lab_hcp_HCPVenturesIIILLCMember_3C2345618EB348FC9ADBBDBF6E25395C_terseLabel_en-US" xlink:label="lab_hcp_HCPVenturesIIILLCMember_3C2345618EB348FC9ADBBDBF6E25395C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">HCP Ventures III, LLC</link:label>
    <link:label id="lab_hcp_HCPVenturesIIILLCMember_3C2345618EB348FC9ADBBDBF6E25395C_label_en-US" xlink:label="lab_hcp_HCPVenturesIIILLCMember_3C2345618EB348FC9ADBBDBF6E25395C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">H C P Ventures III, LLC [Member]</link:label>
    <link:label id="lab_hcp_HCPVenturesIIILLCMember_3C2345618EB348FC9ADBBDBF6E25395C_documentation_en-US" xlink:label="lab_hcp_HCPVenturesIIILLCMember_3C2345618EB348FC9ADBBDBF6E25395C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to HCP Ventures III, LLC, an unconsolidated joint venture of the entity.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_HCPVenturesIIILLCMember" xlink:label="loc_hcp_HCPVenturesIIILLCMember_3C2345618EB348FC9ADBBDBF6E25395C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_HCPVenturesIIILLCMember_3C2345618EB348FC9ADBBDBF6E25395C" xlink:to="lab_hcp_HCPVenturesIIILLCMember_3C2345618EB348FC9ADBBDBF6E25395C" xlink:type="arc" />
    <link:label id="lab_hcp_SuburbanPropertiesLLCMember_C1F17019BA29C488AB76BDBF6E258060_terseLabel_en-US" xlink:label="lab_hcp_SuburbanPropertiesLLCMember_C1F17019BA29C488AB76BDBF6E258060" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Suburban Properties, LLC</link:label>
    <link:label id="lab_hcp_SuburbanPropertiesLLCMember_C1F17019BA29C488AB76BDBF6E258060_label_en-US" xlink:label="lab_hcp_SuburbanPropertiesLLCMember_C1F17019BA29C488AB76BDBF6E258060" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Suburban Properties L L C [Member]</link:label>
    <link:label id="lab_hcp_SuburbanPropertiesLLCMember_C1F17019BA29C488AB76BDBF6E258060_documentation_en-US" xlink:label="lab_hcp_SuburbanPropertiesLLCMember_C1F17019BA29C488AB76BDBF6E258060" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to Suburban Properties, LLC, an unconsolidated joint venture of the entity.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_SuburbanPropertiesLLCMember" xlink:label="loc_hcp_SuburbanPropertiesLLCMember_C1F17019BA29C488AB76BDBF6E258060" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_SuburbanPropertiesLLCMember_C1F17019BA29C488AB76BDBF6E258060" xlink:to="lab_hcp_SuburbanPropertiesLLCMember_C1F17019BA29C488AB76BDBF6E258060" xlink:type="arc" />
    <link:label id="lab_hcp_KYJVsMember_820CC98E49EDC2FC58B8BDBF6E258D9D_terseLabel_en-US" xlink:label="lab_hcp_KYJVsMember_820CC98E49EDC2FC58B8BDBF6E258D9D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">K&amp;Y JVs</link:label>
    <link:label id="lab_hcp_KYJVsMember_820CC98E49EDC2FC58B8BDBF6E258D9D_label_en-US" xlink:label="lab_hcp_KYJVsMember_820CC98E49EDC2FC58B8BDBF6E258D9D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">K&amp;Y JVs [Member]</link:label>
    <link:label id="lab_hcp_KYJVsMember_820CC98E49EDC2FC58B8BDBF6E258D9D_documentation_en-US" xlink:label="lab_hcp_KYJVsMember_820CC98E49EDC2FC58B8BDBF6E258D9D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">K&amp;Y JVs [Member]</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_KYJVsMember" xlink:label="loc_hcp_KYJVsMember_820CC98E49EDC2FC58B8BDBF6E258D9D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_KYJVsMember_820CC98E49EDC2FC58B8BDBF6E258D9D" xlink:to="lab_hcp_KYJVsMember_820CC98E49EDC2FC58B8BDBF6E258D9D" xlink:type="arc" />
    <link:label id="lab_hcp_AdvancesToUnconsolidatedJointVenturesNetMember_82BEB2C865C9C030BFEABDBF6E25C117_terseLabel_en-US" xlink:label="lab_hcp_AdvancesToUnconsolidatedJointVenturesNetMember_82BEB2C865C9C030BFEABDBF6E25C117" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Advances to unconsolidated joint ventures, net</link:label>
    <link:label id="lab_hcp_AdvancesToUnconsolidatedJointVenturesNetMember_82BEB2C865C9C030BFEABDBF6E25C117_label_en-US" xlink:label="lab_hcp_AdvancesToUnconsolidatedJointVenturesNetMember_82BEB2C865C9C030BFEABDBF6E25C117" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Advances To Unconsolidated Joint Ventures Net [Member]</link:label>
    <link:label id="lab_hcp_AdvancesToUnconsolidatedJointVenturesNetMember_82BEB2C865C9C030BFEABDBF6E25C117_documentation_en-US" xlink:label="lab_hcp_AdvancesToUnconsolidatedJointVenturesNetMember_82BEB2C865C9C030BFEABDBF6E25C117" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Advances to unconsolidated joint ventures, net.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_AdvancesToUnconsolidatedJointVenturesNetMember" xlink:label="loc_hcp_AdvancesToUnconsolidatedJointVenturesNetMember_82BEB2C865C9C030BFEABDBF6E25C117" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_AdvancesToUnconsolidatedJointVenturesNetMember_82BEB2C865C9C030BFEABDBF6E25C117" xlink:to="lab_hcp_AdvancesToUnconsolidatedJointVenturesNetMember_82BEB2C865C9C030BFEABDBF6E25C117" xlink:type="arc" />
    <link:label id="lab_hcp_NumberOfUnconsolidatedJointVenture_28472D87BF840E0F1158BDBF6E27989B_terseLabel_en-US" xlink:label="lab_hcp_NumberOfUnconsolidatedJointVenture_28472D87BF840E0F1158BDBF6E27989B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of unconsolidated joint ventures</link:label>
    <link:label id="lab_hcp_NumberOfUnconsolidatedJointVenture_28472D87BF840E0F1158BDBF6E27989B_label_en-US" xlink:label="lab_hcp_NumberOfUnconsolidatedJointVenture_28472D87BF840E0F1158BDBF6E27989B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Unconsolidated Joint Venture</link:label>
    <link:label id="lab_hcp_NumberOfUnconsolidatedJointVenture_28472D87BF840E0F1158BDBF6E27989B_documentation_en-US" xlink:label="lab_hcp_NumberOfUnconsolidatedJointVenture_28472D87BF840E0F1158BDBF6E27989B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents number of unconsolidated joint ventures between entity and an institutional capital partner.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_NumberOfUnconsolidatedJointVenture" xlink:label="loc_hcp_NumberOfUnconsolidatedJointVenture_28472D87BF840E0F1158BDBF6E27989B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_NumberOfUnconsolidatedJointVenture_28472D87BF840E0F1158BDBF6E27989B" xlink:to="lab_hcp_NumberOfUnconsolidatedJointVenture_28472D87BF840E0F1158BDBF6E27989B" xlink:type="arc" />
    <link:label id="lab_us-gaap_SeniorNotesMember_B55D94E15531EB72D366D4DE4A3009B6_terseLabel_en-US" xlink:label="lab_us-gaap_SeniorNotesMember_B55D94E15531EB72D366D4DE4A3009B6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Senior Notes</link:label>
    <link:label id="lab_us-gaap_SeniorNotesMember_B55D94E15531EB72D366D4DE4A3009B6_label_en-US" xlink:label="lab_us-gaap_SeniorNotesMember_B55D94E15531EB72D366D4DE4A3009B6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Notes [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SeniorNotesMember" xlink:label="loc_us-gaap_SeniorNotesMember_B55D94E15531EB72D366D4DE4A3009B6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeniorNotesMember_B55D94E15531EB72D366D4DE4A3009B6" xlink:to="lab_us-gaap_SeniorNotesMember_B55D94E15531EB72D366D4DE4A3009B6" xlink:type="arc" />
    <link:label id="lab_hcp_UnsecuredNote5.625PercentMember_9BF2B552F6AEFEAEF4B6D4DE4A3122C1_terseLabel_en-US" xlink:label="lab_hcp_UnsecuredNote5.625PercentMember_9BF2B552F6AEFEAEF4B6D4DE4A3122C1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unsecured Note 5.625%</link:label>
    <link:label id="lab_hcp_UnsecuredNote5.625PercentMember_9BF2B552F6AEFEAEF4B6D4DE4A3122C1_label_en-US" xlink:label="lab_hcp_UnsecuredNote5.625PercentMember_9BF2B552F6AEFEAEF4B6D4DE4A3122C1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unsecured Note 5.625 Percent [Member]</link:label>
    <link:label id="lab_hcp_UnsecuredNote5.625PercentMember_9BF2B552F6AEFEAEF4B6D4DE4A3122C1_documentation_en-US" xlink:label="lab_hcp_UnsecuredNote5.625PercentMember_9BF2B552F6AEFEAEF4B6D4DE4A3122C1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Unsecured Note 5.625 Percent [Member]</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_UnsecuredNote5.625PercentMember" xlink:label="loc_hcp_UnsecuredNote5.625PercentMember_9BF2B552F6AEFEAEF4B6D4DE4A3122C1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_UnsecuredNote5.625PercentMember_9BF2B552F6AEFEAEF4B6D4DE4A3122C1" xlink:to="lab_hcp_UnsecuredNote5.625PercentMember_9BF2B552F6AEFEAEF4B6D4DE4A3122C1" xlink:type="arc" />
    <link:label id="lab_hcp_UnsecuredNote5.375PercentDue2021Member_9E8672C8F06425C6EB59D4DE4A32A1D6_terseLabel_en-US" xlink:label="lab_hcp_UnsecuredNote5.375PercentDue2021Member_9E8672C8F06425C6EB59D4DE4A32A1D6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unsecured Note 5.375% Due 2021</link:label>
    <link:label id="lab_hcp_UnsecuredNote5.375PercentDue2021Member_9E8672C8F06425C6EB59D4DE4A32A1D6_label_en-US" xlink:label="lab_hcp_UnsecuredNote5.375PercentDue2021Member_9E8672C8F06425C6EB59D4DE4A32A1D6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unsecured Note 5.375 Percent Due 2021 [Member]</link:label>
    <link:label id="lab_hcp_UnsecuredNote5.375PercentDue2021Member_9E8672C8F06425C6EB59D4DE4A32A1D6_documentation_en-US" xlink:label="lab_hcp_UnsecuredNote5.375PercentDue2021Member_9E8672C8F06425C6EB59D4DE4A32A1D6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Unsecured Note 5.375 Percent Due 2021 [Member]</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_UnsecuredNote5.375PercentDue2021Member" xlink:label="loc_hcp_UnsecuredNote5.375PercentDue2021Member_9E8672C8F06425C6EB59D4DE4A32A1D6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_UnsecuredNote5.375PercentDue2021Member_9E8672C8F06425C6EB59D4DE4A32A1D6" xlink:to="lab_hcp_UnsecuredNote5.375PercentDue2021Member_9E8672C8F06425C6EB59D4DE4A32A1D6" xlink:type="arc" />
    <link:label id="lab_hcp_UnsecuredNote5.375PercentMember_5C329DF6C0668890672BD4DE4A3283BB_terseLabel_en-US" xlink:label="lab_hcp_UnsecuredNote5.375PercentMember_5C329DF6C0668890672BD4DE4A3283BB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unsecured Note 5.375%</link:label>
    <link:label id="lab_hcp_UnsecuredNote5.375PercentMember_5C329DF6C0668890672BD4DE4A3283BB_label_en-US" xlink:label="lab_hcp_UnsecuredNote5.375PercentMember_5C329DF6C0668890672BD4DE4A3283BB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unsecured Note 5.375 Percent [Member]</link:label>
    <link:label id="lab_hcp_UnsecuredNote5.375PercentMember_5C329DF6C0668890672BD4DE4A3283BB_documentation_en-US" xlink:label="lab_hcp_UnsecuredNote5.375PercentMember_5C329DF6C0668890672BD4DE4A3283BB" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Unsecured Note 5.375 Percent [Member]</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_UnsecuredNote5.375PercentMember" xlink:label="loc_hcp_UnsecuredNote5.375PercentMember_5C329DF6C0668890672BD4DE4A3283BB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_UnsecuredNote5.375PercentMember_5C329DF6C0668890672BD4DE4A3283BB" xlink:to="lab_hcp_UnsecuredNote5.375PercentMember_5C329DF6C0668890672BD4DE4A3283BB" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_153D1E88BB934E09273DD4DE4A327C6C_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount_153D1E88BB934E09273DD4DE4A327C6C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principal balance on debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DebtInstrumentCarryingAmount" xlink:label="loc_us-gaap_DebtInstrumentCarryingAmount_153D1E88BB934E09273DD4DE4A327C6C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentCarryingAmount_153D1E88BB934E09273DD4DE4A327C6C" xlink:to="lab_us-gaap_DebtInstrumentCarryingAmount_153D1E88BB934E09273DD4DE4A327C6C" xlink:type="arc" />
    <link:label id="lab_us-gaap_RepaymentsOfSeniorDebt_982FB90DBB376E1B7258D4DE4A338409_terseLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfSeniorDebt_982FB90DBB376E1B7258D4DE4A338409" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repayment of senior unsecured notes</link:label>
    <link:label id="lab_us-gaap_RepaymentsOfSeniorDebt_982FB90DBB376E1B7258D4DE4A338409_label_en-US" xlink:label="lab_us-gaap_RepaymentsOfSeniorDebt_982FB90DBB376E1B7258D4DE4A338409" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments of Senior Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_RepaymentsOfSeniorDebt" xlink:label="loc_us-gaap_RepaymentsOfSeniorDebt_982FB90DBB376E1B7258D4DE4A338409" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepaymentsOfSeniorDebt_982FB90DBB376E1B7258D4DE4A338409" xlink:to="lab_us-gaap_RepaymentsOfSeniorDebt_982FB90DBB376E1B7258D4DE4A338409" xlink:type="arc" />
    <link:label id="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt_636FE2AFCA593444147BD4DE4A334373_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt_636FE2AFCA593444147BD4DE4A334373" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Loss on debt extinguishments</link:label>
    <link:label id="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt_636FE2AFCA593444147BD4DE4A334373_label_en-US" xlink:label="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt_636FE2AFCA593444147BD4DE4A334373" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (Loss) on Extinguishment of Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:label="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt_636FE2AFCA593444147BD4DE4A334373" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt_636FE2AFCA593444147BD4DE4A334373" xlink:to="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt_636FE2AFCA593444147BD4DE4A334373" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_C5A70C50E5AD88D06B7DCE2748113713_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_C5A70C50E5AD88D06B7DCE2748113713" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Segment Reporting Information, by Segment [Table]</link:label>
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    <link:label id="lab_hcp_NumberOfFacilitiesTransitionedToDifferentSegment_B8D3C4FBC1EC31BB4902CE274814A94F_terseLabel_en-US" xlink:label="lab_hcp_NumberOfFacilitiesTransitionedToDifferentSegment_B8D3C4FBC1EC31BB4902CE274814A94F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of SH NNN facilities transitioned to RIDEA structure</link:label>
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    <link:label id="lab_hcp_RentalRevenues_6D4394DF7EF6FEDB6A91CE274815E4D0_terseLabel_en-US" xlink:label="lab_hcp_RentalRevenues_6D4394DF7EF6FEDB6A91CE274815E4D0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rental revenues</link:label>
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    <link:label id="lab_hcp_RentalRevenues_6D4394DF7EF6FEDB6A91CE274815E4D0_documentation_en-US" xlink:label="lab_hcp_RentalRevenues_6D4394DF7EF6FEDB6A91CE274815E4D0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The total amount of rental and related revenues, tenant recoveries and income from direct financing leases recognized for the period.</link:label>
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    <link:label id="lab_us-gaap_OperatingExpenses_8F91F01F003B26298BCACE274815A7DB_label_en-US" xlink:label="lab_us-gaap_OperatingExpenses_8F91F01F003B26298BCACE274815A7DB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Expenses</link:label>
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    <link:label id="lab_hcp_NetOperatingIncomeFromContinuingOperations_7E82310918A5CDE95477CE2748155DB4_totalLabel_en-US" xlink:label="lab_hcp_NetOperatingIncomeFromContinuingOperations_7E82310918A5CDE95477CE2748155DB4" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Segment NOI</link:label>
    <link:label id="lab_hcp_NetOperatingIncomeFromContinuingOperations_7E82310918A5CDE95477CE2748155DB4_label_en-US" xlink:label="lab_hcp_NetOperatingIncomeFromContinuingOperations_7E82310918A5CDE95477CE2748155DB4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Operating Income from Continuing Operations</link:label>
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    <link:label id="lab_hcp_NonCashAdjustmentsToNetOperatingIncomeFromContinuingOperations_38744F23B076DBBBB5EFCE2748153C54_documentation_en-US" xlink:label="lab_hcp_NonCashAdjustmentsToNetOperatingIncomeFromContinuingOperations_38744F23B076DBBBB5EFCE2748153C54" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents straight-line rents, DFL accretion, amortization of market lease intangibles and lease termination fees.</link:label>
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    <link:label id="lab_us-gaap_VariableInterestEntityInitialConsolidationGainOrLoss_99A1948D7F58AF3C4DD7D9A9DC7D51CB_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityInitialConsolidationGainOrLoss_99A1948D7F58AF3C4DD7D9A9DC7D51CB" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Loss (gain) on consolidation, net</link:label>
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    <link:label id="lab_us-gaap_OtherNoncashIncomeExpense_D552D51F8F7B18BDD49BD9A9DC7DB5BC_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_OtherNoncashIncomeExpense_D552D51F8F7B18BDD49BD9A9DC7DB5BC" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Other non-cash items</link:label>
    <link:label id="lab_us-gaap_OtherNoncashIncomeExpense_D552D51F8F7B18BDD49BD9A9DC7DB5BC_label_en-US" xlink:label="lab_us-gaap_OtherNoncashIncomeExpense_D552D51F8F7B18BDD49BD9A9DC7DB5BC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Noncash Income (Expense)</link:label>
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    <link:label id="lab_us-gaap_IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets_BB67807E870570C692F1D9A9DC7D48DB_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets_BB67807E870570C692F1D9A9DC7D48DB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Accounts Receivable and Other Operating Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets_BB67807E870570C692F1D9A9DC7D48DB" xlink:type="locator" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_10FBAC196A2E0EF71BE7D9A9DC7D5BF8" xlink:type="locator" />
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_87C61C576DBC398A1FD6D9A9DC7D5A54_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_87C61C576DBC398A1FD6D9A9DC7D5A54" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by (used in) operating activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_87C61C576DBC398A1FD6D9A9DC7D5A54_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_87C61C576DBC398A1FD6D9A9DC7D5A54" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_87C61C576DBC398A1FD6D9A9DC7D5A54" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_87C61C576DBC398A1FD6D9A9DC7D5A54" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_87C61C576DBC398A1FD6D9A9DC7D5A54" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_EC8A8F66B4CF731544B6D9A9DC7EEDB2_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_EC8A8F66B4CF731544B6D9A9DC7EEDB2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from investing activities:</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_EC8A8F66B4CF731544B6D9A9DC7EEDB2_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_EC8A8F66B4CF731544B6D9A9DC7EEDB2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Investing Activities [Abstract]</link:label>
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    <link:label id="lab_us-gaap_PaymentsToAcquireOtherRealEstate_C2A97BDB847D050C8246D9A9DC7EF381_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireOtherRealEstate_C2A97BDB847D050C8246D9A9DC7EF381" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Other Real Estate</link:label>
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    <link:label id="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_80B37612A598210FA63BD9A9DC88AC66_terseLabel_en-US" xlink:label="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_80B37612A598210FA63BD9A9DC88AC66" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect of foreign exchanges on cash, cash equivalents and restricted cash</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations" xlink:label="loc_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_80B37612A598210FA63BD9A9DC88AC66" xlink:type="locator" />
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    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_D96B960283EE4C94DB00D9A9DC881500_totalLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_D96B960283EE4C94DB00D9A9DC881500" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net increase (decrease) in cash, cash equivalents and restricted cash</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_D96B960283EE4C94DB00D9A9DC881500_label_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_D96B960283EE4C94DB00D9A9DC881500" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_D96B960283EE4C94DB00D9A9DC881500" xlink:type="locator" />
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    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_03F3A2DDB683C36D8A41D9A9DC88FFC5_periodStartLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_03F3A2DDB683C36D8A41D9A9DC88FFC5" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Cash, cash equivalents and restricted cash, beginning of period</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_03F3A2DDB683C36D8A41D9A9DC88FFC5_label_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_03F3A2DDB683C36D8A41D9A9DC88FFC5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_03F3A2DDB683C36D8A41D9A9DC88FFC5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_03F3A2DDB683C36D8A41D9A9DC88FFC5" xlink:to="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_03F3A2DDB683C36D8A41D9A9DC88FFC5" xlink:type="arc" />
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_D017C197D57291CAB6C8D9A9DC88DC1E_periodEndLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_D017C197D57291CAB6C8D9A9DC88DC1E" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Cash, cash equivalents and restricted cash, end of period</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_D017C197D57291CAB6C8D9A9DC88DC1E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_D017C197D57291CAB6C8D9A9DC88DC1E" xlink:to="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_D017C197D57291CAB6C8D9A9DC88DC1E" xlink:type="arc" />
    <link:label id="lab_us-gaap_VariableInterestEntityNotPrimaryBeneficiaryAggregatedDisclosureMember_70799174133C01BF9CFF61586A848315_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityNotPrimaryBeneficiaryAggregatedDisclosureMember_70799174133C01BF9CFF61586A848315" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unconsolidated Variable Interest Entities</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityNotPrimaryBeneficiaryAggregatedDisclosureMember_70799174133C01BF9CFF61586A848315_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityNotPrimaryBeneficiaryAggregatedDisclosureMember_70799174133C01BF9CFF61586A848315" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Not Primary Beneficiary, Aggregated Disclosure [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_VariableInterestEntityNotPrimaryBeneficiaryAggregatedDisclosureMember" xlink:label="loc_us-gaap_VariableInterestEntityNotPrimaryBeneficiaryAggregatedDisclosureMember_70799174133C01BF9CFF61586A848315" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityNotPrimaryBeneficiaryAggregatedDisclosureMember_70799174133C01BF9CFF61586A848315" xlink:to="lab_us-gaap_VariableInterestEntityNotPrimaryBeneficiaryAggregatedDisclosureMember_70799174133C01BF9CFF61586A848315" xlink:type="arc" />
    <link:label id="lab_hcp_HcpVenturesVMember_6CAF66F41B9085A9BF1C61586A8699EE_terseLabel_en-US" xlink:label="lab_hcp_HcpVenturesVMember_6CAF66F41B9085A9BF1C61586A8699EE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">HCP Ventures V</link:label>
    <link:label id="lab_hcp_HcpVenturesVMember_6CAF66F41B9085A9BF1C61586A8699EE_label_en-US" xlink:label="lab_hcp_HcpVenturesVMember_6CAF66F41B9085A9BF1C61586A8699EE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hcp Ventures V [Member]</link:label>
    <link:label id="lab_hcp_HcpVenturesVMember_6CAF66F41B9085A9BF1C61586A8699EE_documentation_en-US" xlink:label="lab_hcp_HcpVenturesVMember_6CAF66F41B9085A9BF1C61586A8699EE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to HCP Ventures V.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_HcpVenturesVMember" xlink:label="loc_hcp_HcpVenturesVMember_6CAF66F41B9085A9BF1C61586A8699EE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_HcpVenturesVMember_6CAF66F41B9085A9BF1C61586A8699EE" xlink:to="lab_hcp_HcpVenturesVMember_6CAF66F41B9085A9BF1C61586A8699EE" xlink:type="arc" />
    <link:label id="lab_hcp_VintageParkJVMember_EA18FA6BD4BE90F0E7EA61586A869899_terseLabel_en-US" xlink:label="lab_hcp_VintageParkJVMember_EA18FA6BD4BE90F0E7EA61586A869899" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vintage Park JV</link:label>
    <link:label id="lab_hcp_VintageParkJVMember_EA18FA6BD4BE90F0E7EA61586A869899_label_en-US" xlink:label="lab_hcp_VintageParkJVMember_EA18FA6BD4BE90F0E7EA61586A869899" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vintage Park JV [Member]</link:label>
    <link:label id="lab_hcp_VintageParkJVMember_EA18FA6BD4BE90F0E7EA61586A869899_documentation_en-US" xlink:label="lab_hcp_VintageParkJVMember_EA18FA6BD4BE90F0E7EA61586A869899" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Vintage Park JV [Member]</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_VintageParkJVMember" xlink:label="loc_hcp_VintageParkJVMember_EA18FA6BD4BE90F0E7EA61586A869899" xlink:type="locator" />
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    <link:label id="lab_hcp_WatertownJVMember_AE20050B7F7F793A206C61586A8668F6_terseLabel_en-US" xlink:label="lab_hcp_WatertownJVMember_AE20050B7F7F793A206C61586A8668F6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Watertown JV</link:label>
    <link:label id="lab_hcp_WatertownJVMember_AE20050B7F7F793A206C61586A8668F6_label_en-US" xlink:label="lab_hcp_WatertownJVMember_AE20050B7F7F793A206C61586A8668F6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Watertown JV [Member]</link:label>
    <link:label id="lab_hcp_WatertownJVMember_AE20050B7F7F793A206C61586A8668F6_documentation_en-US" xlink:label="lab_hcp_WatertownJVMember_AE20050B7F7F793A206C61586A8668F6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Watertown JV [Member]</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_WatertownJVMember" xlink:label="loc_hcp_WatertownJVMember_AE20050B7F7F793A206C61586A8668F6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_WatertownJVMember_AE20050B7F7F793A206C61586A8668F6" xlink:to="lab_hcp_WatertownJVMember_AE20050B7F7F793A206C61586A8668F6" xlink:type="arc" />
    <link:label id="lab_hcp_HaydenJVMember_5AE3B8FC2021A28233A661586A86A749_terseLabel_en-US" xlink:label="lab_hcp_HaydenJVMember_5AE3B8FC2021A28233A661586A86A749" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hayden JV</link:label>
    <link:label id="lab_hcp_HaydenJVMember_5AE3B8FC2021A28233A661586A86A749_label_en-US" xlink:label="lab_hcp_HaydenJVMember_5AE3B8FC2021A28233A661586A86A749" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hayden JV [Member]</link:label>
    <link:label id="lab_hcp_HaydenJVMember_5AE3B8FC2021A28233A661586A86A749_documentation_en-US" xlink:label="lab_hcp_HaydenJVMember_5AE3B8FC2021A28233A661586A86A749" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Hayden JV [Member]</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_HaydenJVMember" xlink:label="loc_hcp_HaydenJVMember_5AE3B8FC2021A28233A661586A86A749" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_HaydenJVMember_5AE3B8FC2021A28233A661586A86A749" xlink:to="lab_hcp_HaydenJVMember_5AE3B8FC2021A28233A661586A86A749" xlink:type="arc" />
    <link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryAggregatedDisclosureMember_3CC6F71EEC64327C05BE61586A86601D_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryAggregatedDisclosureMember_3CC6F71EEC64327C05BE61586A86601D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated lessees VIE</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryAggregatedDisclosureMember_3CC6F71EEC64327C05BE61586A86601D_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryAggregatedDisclosureMember_3CC6F71EEC64327C05BE61586A86601D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Primary Beneficiary, Aggregated Disclosure [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_VariableInterestEntityPrimaryBeneficiaryAggregatedDisclosureMember" xlink:label="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryAggregatedDisclosureMember_3CC6F71EEC64327C05BE61586A86601D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryAggregatedDisclosureMember_3CC6F71EEC64327C05BE61586A86601D" xlink:to="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryAggregatedDisclosureMember_3CC6F71EEC64327C05BE61586A86601D" xlink:type="arc" />
    <link:label id="lab_hcp_DownreitPartnershipsMember_2BCE2CC2A7A690A951CE61586A87DF14_terseLabel_en-US" xlink:label="lab_hcp_DownreitPartnershipsMember_2BCE2CC2A7A690A951CE61586A87DF14" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">DownREIT Partnerships</link:label>
    <link:label id="lab_hcp_DownreitPartnershipsMember_2BCE2CC2A7A690A951CE61586A87DF14_label_en-US" xlink:label="lab_hcp_DownreitPartnershipsMember_2BCE2CC2A7A690A951CE61586A87DF14" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Downreit Partnerships [Member]</link:label>
    <link:label id="lab_hcp_DownreitPartnershipsMember_2BCE2CC2A7A690A951CE61586A87DF14_documentation_en-US" xlink:label="lab_hcp_DownreitPartnershipsMember_2BCE2CC2A7A690A951CE61586A87DF14" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents a joint venture, DownREIT Partnerships.</link:label>
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    <link:label id="lab_us-gaap_FairValueByAssetClassAxis_A2DAEE491C7496C61FF561586A88AA82_label_en-US" xlink:label="lab_us-gaap_FairValueByAssetClassAxis_A2DAEE491C7496C61FF561586A88AA82" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Class [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FairValueByAssetClassAxis" xlink:label="loc_us-gaap_FairValueByAssetClassAxis_A2DAEE491C7496C61FF561586A88AA82" xlink:type="locator" />
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    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentMember_816B72548822EB9F32F061586A89F077_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentMember_816B72548822EB9F32F061586A89F077" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, plant and equipment</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentMember_816B72548822EB9F32F061586A89F077_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentMember_816B72548822EB9F32F061586A89F077" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PropertyPlantAndEquipmentMember" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentMember_816B72548822EB9F32F061586A89F077" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentMember_816B72548822EB9F32F061586A89F077" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentMember_816B72548822EB9F32F061586A89F077" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsMember_30271F3B3794CB2AE30C61586A8923F7_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMember_30271F3B3794CB2AE30C61586A8923F7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible assets</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsMember_30271F3B3794CB2AE30C61586A8923F7_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMember_30271F3B3794CB2AE30C61586A8923F7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsMember" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsMember_30271F3B3794CB2AE30C61586A8923F7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsMember_30271F3B3794CB2AE30C61586A8923F7" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsMember_30271F3B3794CB2AE30C61586A8923F7" xlink:type="arc" />
    <link:label id="lab_hcp_PropertiesLeasedNumber_7E50BCE1D335183AFF3561586A8AD374_terseLabel_en-US" xlink:label="lab_hcp_PropertiesLeasedNumber_7E50BCE1D335183AFF3561586A8AD374" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of properties leased</link:label>
    <link:label id="lab_hcp_PropertiesLeasedNumber_7E50BCE1D335183AFF3561586A8AD374_label_en-US" xlink:label="lab_hcp_PropertiesLeasedNumber_7E50BCE1D335183AFF3561586A8AD374" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Properties Leased, Number</link:label>
    <link:label id="lab_hcp_PropertiesLeasedNumber_7E50BCE1D335183AFF3561586A8AD374_documentation_en-US" xlink:label="lab_hcp_PropertiesLeasedNumber_7E50BCE1D335183AFF3561586A8AD374" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of properties leased by the entity to tenants that have been identified as a VIE.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_PropertiesLeasedNumber" xlink:label="loc_hcp_PropertiesLeasedNumber_7E50BCE1D335183AFF3561586A8AD374" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_PropertiesLeasedNumber_7E50BCE1D335183AFF3561586A8AD374" xlink:to="lab_hcp_PropertiesLeasedNumber_7E50BCE1D335183AFF3561586A8AD374" xlink:type="arc" />
    <link:label id="lab_hcp_NumberOfVieBorrowersWithMarketableDebtSecurities_E8C90F0D32A6B3A2F4B861586A8A5B95_terseLabel_en-US" xlink:label="lab_hcp_NumberOfVieBorrowersWithMarketableDebtSecurities_E8C90F0D32A6B3A2F4B861586A8A5B95" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of VIE borrowers with marketable debt securities</link:label>
    <link:label id="lab_hcp_NumberOfVieBorrowersWithMarketableDebtSecurities_E8C90F0D32A6B3A2F4B861586A8A5B95_label_en-US" xlink:label="lab_hcp_NumberOfVieBorrowersWithMarketableDebtSecurities_E8C90F0D32A6B3A2F4B861586A8A5B95" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of VIE Borrowers With Marketable Debt Securities</link:label>
    <link:label id="lab_hcp_NumberOfVieBorrowersWithMarketableDebtSecurities_E8C90F0D32A6B3A2F4B861586A8A5B95_documentation_en-US" xlink:label="lab_hcp_NumberOfVieBorrowersWithMarketableDebtSecurities_E8C90F0D32A6B3A2F4B861586A8A5B95" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of VIE borrowers in which the entity has invested in marketable debt securities.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_NumberOfVieBorrowersWithMarketableDebtSecurities" xlink:label="loc_hcp_NumberOfVieBorrowersWithMarketableDebtSecurities_E8C90F0D32A6B3A2F4B861586A8A5B95" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_NumberOfVieBorrowersWithMarketableDebtSecurities_E8C90F0D32A6B3A2F4B861586A8A5B95" xlink:to="lab_hcp_NumberOfVieBorrowersWithMarketableDebtSecurities_E8C90F0D32A6B3A2F4B861586A8A5B95" xlink:type="arc" />
    <link:label id="lab_hcp_NumberOfLoanToVieBorrowers_3310B032DF2368753F7D61586A8A0125_terseLabel_en-US" xlink:label="lab_hcp_NumberOfLoanToVieBorrowers_3310B032DF2368753F7D61586A8A0125" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of loans to VIE borrowers</link:label>
    <link:label id="lab_hcp_NumberOfLoanToVieBorrowers_3310B032DF2368753F7D61586A8A0125_label_en-US" xlink:label="lab_hcp_NumberOfLoanToVieBorrowers_3310B032DF2368753F7D61586A8A0125" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Loan To VIE Borrowers</link:label>
    <link:label id="lab_hcp_NumberOfLoanToVieBorrowers_3310B032DF2368753F7D61586A8A0125_documentation_en-US" xlink:label="lab_hcp_NumberOfLoanToVieBorrowers_3310B032DF2368753F7D61586A8A0125" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of loans to VIE borrowers.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_NumberOfLoanToVieBorrowers" xlink:label="loc_hcp_NumberOfLoanToVieBorrowers_3310B032DF2368753F7D61586A8A0125" xlink:type="locator" />
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    <link:label id="lab_us-gaap_VariableInterestEntityOwnershipPercentage_9F77954E12F27324A9FA61586A8A0AB8_verboseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityOwnershipPercentage_9F77954E12F27324A9FA61586A8A0AB8" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Ownership percentage (as a percent)</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityOwnershipPercentage_9F77954E12F27324A9FA61586A8A0AB8_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityOwnershipPercentage_9F77954E12F27324A9FA61586A8A0AB8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_VariableInterestEntityOwnershipPercentage" xlink:label="loc_us-gaap_VariableInterestEntityOwnershipPercentage_9F77954E12F27324A9FA61586A8A0AB8" xlink:type="locator" />
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    <link:label id="lab_hcp_VIETenantsNumber_F477E26CA5703B1CA3D461586A8B95FC_terseLabel_en-US" xlink:label="lab_hcp_VIETenantsNumber_F477E26CA5703B1CA3D461586A8B95FC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of VIE tenants</link:label>
    <link:label id="lab_hcp_VIETenantsNumber_F477E26CA5703B1CA3D461586A8B95FC_label_en-US" xlink:label="lab_hcp_VIETenantsNumber_F477E26CA5703B1CA3D461586A8B95FC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">VIE Tenants Number</link:label>
    <link:label id="lab_hcp_VIETenantsNumber_F477E26CA5703B1CA3D461586A8B95FC_documentation_en-US" xlink:label="lab_hcp_VIETenantsNumber_F477E26CA5703B1CA3D461586A8B95FC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of tenants of properties leased by entity for which the tenant is considered a VIE tenant.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_VIETenantsNumber" xlink:label="loc_hcp_VIETenantsNumber_F477E26CA5703B1CA3D461586A8B95FC" xlink:type="locator" />
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    <link:label id="lab_us-gaap_DebtInstrumentTerm_7147CACF0F3015CAE3B361586A8B5214_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentTerm_7147CACF0F3015CAE3B361586A8B5214" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Term of facility</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentTerm_7147CACF0F3015CAE3B361586A8B5214_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentTerm_7147CACF0F3015CAE3B361586A8B5214" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Term</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DebtInstrumentTerm" xlink:label="loc_us-gaap_DebtInstrumentTerm_7147CACF0F3015CAE3B361586A8B5214" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentTerm_7147CACF0F3015CAE3B361586A8B5214" xlink:to="lab_us-gaap_DebtInstrumentTerm_7147CACF0F3015CAE3B361586A8B5214" xlink:type="arc" />
    <link:label id="lab_hcp_VariableInterestEntityControllingOwnershipInterestThroughPartnership_481BDEB271C1F014605B61586A8B4129_terseLabel_en-US" xlink:label="lab_hcp_VariableInterestEntityControllingOwnershipInterestThroughPartnership_481BDEB271C1F014605B61586A8B4129" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of controlling ownership interest entities as a managing member</link:label>
    <link:label id="lab_hcp_VariableInterestEntityControllingOwnershipInterestThroughPartnership_481BDEB271C1F014605B61586A8B4129_label_en-US" xlink:label="lab_hcp_VariableInterestEntityControllingOwnershipInterestThroughPartnership_481BDEB271C1F014605B61586A8B4129" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity Controlling Ownership Interest Through Partnership</link:label>
    <link:label id="lab_hcp_VariableInterestEntityControllingOwnershipInterestThroughPartnership_481BDEB271C1F014605B61586A8B4129_documentation_en-US" xlink:label="lab_hcp_VariableInterestEntityControllingOwnershipInterestThroughPartnership_481BDEB271C1F014605B61586A8B4129" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the number of controlling ownership interest entities, in which the company holds the interest and is the managing member of the partnership.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_VariableInterestEntityControllingOwnershipInterestThroughPartnership" xlink:label="loc_hcp_VariableInterestEntityControllingOwnershipInterestThroughPartnership_481BDEB271C1F014605B61586A8B4129" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_VariableInterestEntityControllingOwnershipInterestThroughPartnership_481BDEB271C1F014605B61586A8B4129" xlink:to="lab_hcp_VariableInterestEntityControllingOwnershipInterestThroughPartnership_481BDEB271C1F014605B61586A8B4129" xlink:type="arc" />
    <link:label id="lab_hcp_TaxBenefitOfInitialConsolidationOfVariableInterestEntity_BB6B18BD682F989F42BA61586A8CC753_terseLabel_en-US" xlink:label="lab_hcp_TaxBenefitOfInitialConsolidationOfVariableInterestEntity_BB6B18BD682F989F42BA61586A8CC753" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tax benefit of initial consolidation of variable interest entity</link:label>
    <link:label id="lab_hcp_TaxBenefitOfInitialConsolidationOfVariableInterestEntity_BB6B18BD682F989F42BA61586A8CC753_label_en-US" xlink:label="lab_hcp_TaxBenefitOfInitialConsolidationOfVariableInterestEntity_BB6B18BD682F989F42BA61586A8CC753" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax Benefit Of Initial Consolidation Of Variable Interest Entity</link:label>
    <link:label id="lab_hcp_TaxBenefitOfInitialConsolidationOfVariableInterestEntity_BB6B18BD682F989F42BA61586A8CC753_documentation_en-US" xlink:label="lab_hcp_TaxBenefitOfInitialConsolidationOfVariableInterestEntity_BB6B18BD682F989F42BA61586A8CC753" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax Benefit Of Initial Consolidation Of Variable Interest Entity</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_TaxBenefitOfInitialConsolidationOfVariableInterestEntity" xlink:label="loc_hcp_TaxBenefitOfInitialConsolidationOfVariableInterestEntity_BB6B18BD682F989F42BA61586A8CC753" xlink:type="locator" />
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    <link:label id="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_B3C7DC3D61F31314F69A61586A8CD8FF_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_B3C7DC3D61F31314F69A61586A8CD8FF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Carrying amount of assets in VIE</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_B3C7DC3D61F31314F69A61586A8CD8FF_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_B3C7DC3D61F31314F69A61586A8CD8FF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Consolidated, Carrying Amount, Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets" xlink:label="loc_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_B3C7DC3D61F31314F69A61586A8CD8FF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_B3C7DC3D61F31314F69A61586A8CD8FF" xlink:to="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_B3C7DC3D61F31314F69A61586A8CD8FF" xlink:type="arc" />
    <link:label id="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities_1A003D077B1B7F7A68B461586A8C3D9A_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities_1A003D077B1B7F7A68B461586A8C3D9A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Carrying amount of liabilities in VIE</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities_1A003D077B1B7F7A68B461586A8C3D9A_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities_1A003D077B1B7F7A68B461586A8C3D9A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Consolidated, Carrying Amount, Liabilities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities" xlink:label="loc_us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities_1A003D077B1B7F7A68B461586A8C3D9A" xlink:type="locator" />
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    <link:label id="lab_us-gaap_StockTransactionsParentheticalDisclosuresAbstract_87FD3609B06C454ABB3561586AB1DF72_terseLabel_en-US" xlink:label="lab_us-gaap_StockTransactionsParentheticalDisclosuresAbstract_87FD3609B06C454ABB3561586AB1DF72" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Balance Sheet Parenthetical Disclosures</link:label>
    <link:label id="lab_us-gaap_StockTransactionsParentheticalDisclosuresAbstract_87FD3609B06C454ABB3561586AB1DF72_label_en-US" xlink:label="lab_us-gaap_StockTransactionsParentheticalDisclosuresAbstract_87FD3609B06C454ABB3561586AB1DF72" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Transactions, Parenthetical Disclosures [Abstract]</link:label>
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    <link:label id="lab_hcp_NonCashAcquisitionsAndDispositionsSettledWithReceivablesAndRestrictedCash_342868987A62C8DFE9BEEE80102188CB_terseLabel_en-US" xlink:label="lab_hcp_NonCashAcquisitionsAndDispositionsSettledWithReceivablesAndRestrictedCash_342868987A62C8DFE9BEEE80102188CB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deconsolidation of noncontrolling interest in connection with RIDEA II transaction</link:label>
    <link:label id="lab_hcp_NonCashAcquisitionsAndDispositionsSettledWithReceivablesAndRestrictedCash_342868987A62C8DFE9BEEE80102188CB_label_en-US" xlink:label="lab_hcp_NonCashAcquisitionsAndDispositionsSettledWithReceivablesAndRestrictedCash_342868987A62C8DFE9BEEE80102188CB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-cash Acquisitions and Dispositions, Settled with Receivables and Restricted Cash</link:label>
    <link:label id="lab_hcp_NonCashAcquisitionsAndDispositionsSettledWithReceivablesAndRestrictedCash_342868987A62C8DFE9BEEE80102188CB_documentation_en-US" xlink:label="lab_hcp_NonCashAcquisitionsAndDispositionsSettledWithReceivablesAndRestrictedCash_342868987A62C8DFE9BEEE80102188CB" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of non-cash acquisitions and dispositions settled with receivables and restricted cash held in connection with Section 1031 transactions.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_NonCashAcquisitionsAndDispositionsSettledWithReceivablesAndRestrictedCash" xlink:label="loc_hcp_NonCashAcquisitionsAndDispositionsSettledWithReceivablesAndRestrictedCash_342868987A62C8DFE9BEEE80102188CB" xlink:type="locator" />
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    <link:label id="lab_hcp_RestrictedStockVested_3D596C200EAC7408DB93EE801021785E_terseLabel_en-US" xlink:label="lab_hcp_RestrictedStockVested_3D596C200EAC7408DB93EE801021785E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vesting of restricted stock units and conversion of non-managing member units into common stock</link:label>
    <link:label id="lab_hcp_RestrictedStockVested_3D596C200EAC7408DB93EE801021785E_label_en-US" xlink:label="lab_hcp_RestrictedStockVested_3D596C200EAC7408DB93EE801021785E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted Stock, Vested</link:label>
    <link:label id="lab_hcp_RestrictedStockVested_3D596C200EAC7408DB93EE801021785E_documentation_en-US" xlink:label="lab_hcp_RestrictedStockVested_3D596C200EAC7408DB93EE801021785E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The value of stock issued upon which restrictions have lapsed.</link:label>
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    <link:label id="lab_us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTable_A44A6DD287BE96164A7C6158699CCEBB_terseLabel_en-US" xlink:label="lab_us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTable_A44A6DD287BE96164A7C6158699CCEBB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reconciliation of Assets from Segment to Consolidated [Table]</link:label>
    <link:label id="lab_us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTable_A44A6DD287BE96164A7C6158699CCEBB_label_en-US" xlink:label="lab_us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTable_A44A6DD287BE96164A7C6158699CCEBB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reconciliation of Assets from Segment to Consolidated [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTable" xlink:label="loc_us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTable_A44A6DD287BE96164A7C6158699CCEBB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTable_A44A6DD287BE96164A7C6158699CCEBB" xlink:to="lab_us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTable_A44A6DD287BE96164A7C6158699CCEBB" xlink:type="arc" />
    <link:label id="lab_us-gaap_SegmentReportingAssetReconcilingItemLineItems_07B9657A0995F44E2BD16158699F24FB_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingAssetReconcilingItemLineItems_07B9657A0995F44E2BD16158699F24FB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segment Disclosure</link:label>
    <link:label id="lab_us-gaap_SegmentReportingAssetReconcilingItemLineItems_07B9657A0995F44E2BD16158699F24FB_label_en-US" xlink:label="lab_us-gaap_SegmentReportingAssetReconcilingItemLineItems_07B9657A0995F44E2BD16158699F24FB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting, Asset Reconciling Item [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SegmentReportingAssetReconcilingItemLineItems" xlink:label="loc_us-gaap_SegmentReportingAssetReconcilingItemLineItems_07B9657A0995F44E2BD16158699F24FB" xlink:type="locator" />
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    <link:label id="lab_us-gaap_Revenues_46D96FC59A21471D33D46158699FE987_terseLabel_en-US" xlink:label="lab_us-gaap_Revenues_46D96FC59A21471D33D46158699FE987" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total revenues</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_Revenues" xlink:label="loc_us-gaap_Revenues_46D96FC59A21471D33D46158699FE987" xlink:type="locator" />
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    <link:label id="lab_hcp_SalesRevenuesMember_853C8415A4A2B6EE9DFB61586A93C277_terseLabel_en-US" xlink:label="lab_hcp_SalesRevenuesMember_853C8415A4A2B6EE9DFB61586A93C277" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue</link:label>
    <link:label id="lab_hcp_SalesRevenuesMember_853C8415A4A2B6EE9DFB61586A93C277_label_en-US" xlink:label="lab_hcp_SalesRevenuesMember_853C8415A4A2B6EE9DFB61586A93C277" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sales Revenues [Member]</link:label>
    <link:label id="lab_hcp_SalesRevenuesMember_853C8415A4A2B6EE9DFB61586A93C277_documentation_en-US" xlink:label="lab_hcp_SalesRevenuesMember_853C8415A4A2B6EE9DFB61586A93C277" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Aggregate revenues during the period, when it serves as a benchmark in a concentration of risk calculation.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_SalesRevenuesMember" xlink:label="loc_hcp_SalesRevenuesMember_853C8415A4A2B6EE9DFB61586A93C277" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_SalesRevenuesMember_853C8415A4A2B6EE9DFB61586A93C277" xlink:to="lab_hcp_SalesRevenuesMember_853C8415A4A2B6EE9DFB61586A93C277" xlink:type="arc" />
    <link:label id="lab_hcp_HcpCpaBrookdaleJvMember_62F6866C59390505A975A46AC4A05F12_terseLabel_en-US" xlink:label="lab_hcp_HcpCpaBrookdaleJvMember_62F6866C59390505A975A46AC4A05F12" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">HCP/CPA/Brookdale JV</link:label>
    <link:label id="lab_hcp_HcpCpaBrookdaleJvMember_62F6866C59390505A975A46AC4A05F12_label_en-US" xlink:label="lab_hcp_HcpCpaBrookdaleJvMember_62F6866C59390505A975A46AC4A05F12" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hcp Cpa Brookdale Jv [Member]</link:label>
    <link:label id="lab_hcp_HcpCpaBrookdaleJvMember_62F6866C59390505A975A46AC4A05F12_documentation_en-US" xlink:label="lab_hcp_HcpCpaBrookdaleJvMember_62F6866C59390505A975A46AC4A05F12" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to joint venture structure jointly owned by HCP, Columbia Pacific Advisors (?CPA?) and Brookdale (collectively referred to as the ?HCP/CPA/Brookdale JV?).</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_HcpCpaBrookdaleJvMember" xlink:label="loc_hcp_HcpCpaBrookdaleJvMember_62F6866C59390505A975A46AC4A05F12" xlink:type="locator" />
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    <link:label id="lab_hcp_DebtInstrumentProvided_0261C911F666D9E8AE1AA46AC4A18F2E_terseLabel_en-US" xlink:label="lab_hcp_DebtInstrumentProvided_0261C911F666D9E8AE1AA46AC4A18F2E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument Provided</link:label>
    <link:label id="lab_hcp_DebtInstrumentProvided_0261C911F666D9E8AE1AA46AC4A18F2E_label_en-US" xlink:label="lab_hcp_DebtInstrumentProvided_0261C911F666D9E8AE1AA46AC4A18F2E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument Provided</link:label>
    <link:label id="lab_hcp_DebtInstrumentProvided_0261C911F666D9E8AE1AA46AC4A18F2E_documentation_en-US" xlink:label="lab_hcp_DebtInstrumentProvided_0261C911F666D9E8AE1AA46AC4A18F2E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of debt provided.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_DebtInstrumentProvided" xlink:label="loc_hcp_DebtInstrumentProvided_0261C911F666D9E8AE1AA46AC4A18F2E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_DebtInstrumentProvided_0261C911F666D9E8AE1AA46AC4A18F2E" xlink:to="lab_hcp_DebtInstrumentProvided_0261C911F666D9E8AE1AA46AC4A18F2E" xlink:type="arc" />
    <link:label id="lab_hcp_DebtInstrumentProvidedByThirdParty_CA0BC74EC9EF395E6E3EA46AC4A108B5_verboseLabel_en-US" xlink:label="lab_hcp_DebtInstrumentProvidedByThirdParty_CA0BC74EC9EF395E6E3EA46AC4A108B5" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Debt provided by third-party</link:label>
    <link:label id="lab_hcp_DebtInstrumentProvidedByThirdParty_CA0BC74EC9EF395E6E3EA46AC4A108B5_label_en-US" xlink:label="lab_hcp_DebtInstrumentProvidedByThirdParty_CA0BC74EC9EF395E6E3EA46AC4A108B5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument Provided By Third Party</link:label>
    <link:label id="lab_hcp_DebtInstrumentProvidedByThirdParty_CA0BC74EC9EF395E6E3EA46AC4A108B5_documentation_en-US" xlink:label="lab_hcp_DebtInstrumentProvidedByThirdParty_CA0BC74EC9EF395E6E3EA46AC4A108B5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of debt provided by third party.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_DebtInstrumentProvidedByThirdParty" xlink:label="loc_hcp_DebtInstrumentProvidedByThirdParty_CA0BC74EC9EF395E6E3EA46AC4A108B5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_hcp_DebtInstrumentProvidedByThirdParty_CA0BC74EC9EF395E6E3EA46AC4A108B5" xlink:to="lab_hcp_DebtInstrumentProvidedByThirdParty_CA0BC74EC9EF395E6E3EA46AC4A108B5" xlink:type="arc" />
    <link:label id="lab_hcp_DebtInstrumentProvidedByEntity_AEADFE636BA2D0109EB8A46AC4A1F4F5_verboseLabel_en-US" xlink:label="lab_hcp_DebtInstrumentProvidedByEntity_AEADFE636BA2D0109EB8A46AC4A1F4F5" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Debt provided by entity</link:label>
    <link:label id="lab_hcp_DebtInstrumentProvidedByEntity_AEADFE636BA2D0109EB8A46AC4A1F4F5_label_en-US" xlink:label="lab_hcp_DebtInstrumentProvidedByEntity_AEADFE636BA2D0109EB8A46AC4A1F4F5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument Provided By Entity</link:label>
    <link:label id="lab_hcp_DebtInstrumentProvidedByEntity_AEADFE636BA2D0109EB8A46AC4A1F4F5_documentation_en-US" xlink:label="lab_hcp_DebtInstrumentProvidedByEntity_AEADFE636BA2D0109EB8A46AC4A1F4F5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of debt provided by entity.</link:label>
    <link:loc xlink:href="hcp-20180630.xsd#hcp_DebtInstrumentProvidedByEntity" xlink:label="loc_hcp_DebtInstrumentProvidedByEntity_AEADFE636BA2D0109EB8A46AC4A1F4F5" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ProceedsFromDebtNetOfIssuanceCosts_5BF2D0B075D79EF14218A46AC4A2F7BC_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromDebtNetOfIssuanceCosts_5BF2D0B075D79EF14218A46AC4A2F7BC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net proceeds from the RIDEA II transaction</link:label>
    <link:label id="lab_us-gaap_ProceedsFromDebtNetOfIssuanceCosts_5BF2D0B075D79EF14218A46AC4A2F7BC_label_en-US" xlink:label="lab_us-gaap_ProceedsFromDebtNetOfIssuanceCosts_5BF2D0B075D79EF14218A46AC4A2F7BC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Debt, Net of Issuance Costs</link:label>
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    <link:label id="lab_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate_742E213CC889033F102EA46AC4A29976_verboseLabel_en-US" xlink:label="lab_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate_742E213CC889033F102EA46AC4A29976" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Gain (loss) on sales of real estate</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_GainsLossesOnSalesOfInvestmentRealEstate" xlink:label="loc_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate_742E213CC889033F102EA46AC4A29976" xlink:type="locator" />
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    <link:label id="lab_hcp_DiscontinuedOperationsOwnershipInterestDisposed_5993CD3CCC2A3CF308FBA46AC4A2ABF6_verboseLabel_en-US" xlink:label="lab_hcp_DiscontinuedOperationsOwnershipInterestDisposed_5993CD3CCC2A3CF308FBA46AC4A2ABF6" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Equity method investment ownership interest disposed</link:label>
    <link:label id="lab_hcp_DiscontinuedOperationsOwnershipInterestDisposed_5993CD3CCC2A3CF308FBA46AC4A2ABF6_label_en-US" xlink:label="lab_hcp_DiscontinuedOperationsOwnershipInterestDisposed_5993CD3CCC2A3CF308FBA46AC4A2ABF6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Discontinued Operations, Ownership Interest Disposed</link:label>
    <link:label id="lab_hcp_DiscontinuedOperationsOwnershipInterestDisposed_5993CD3CCC2A3CF308FBA46AC4A2ABF6_documentation_en-US" xlink:label="lab_hcp_DiscontinuedOperationsOwnershipInterestDisposed_5993CD3CCC2A3CF308FBA46AC4A2ABF6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Discontinued Operations, Ownership Interest Disposed</link:label>
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