DivestmentMay 4, 2026, 06:03 AM
National Healthcare Properties to Sell 86 Medical Facilities for $528M
AI Summary
National Healthcare Properties, Inc. announced a definitive agreement to sell a portfolio of 86 outpatient medical facilities for approximately $528 million. This strategic divestment aims to increase the company's focus on its Senior Housing Operating Portfolio (SHOP) segment, with SHOP cash NOI projected to represent 60% of total portfolio cash NOI. The transaction is expected to reduce leverage by defeasing or transferring $278 million of debt and generate $250 million in cash proceeds, which will be used for deleveraging and future SHOP acquisitions.
Key Highlights
- National Healthcare Properties to sell 86 outpatient medical facilities for approximately $528 million.
- Transaction expected to result in defeasance or transfer of approximately $278 million of debt.
- Anticipated cash proceeds of approximately $250 million will be generated from the sale.
- Disposition will increase NHP's relative exposure to the SHOP segment, targeting 60% of total cash NOI.
- Net proceeds, combined with $500 million from recent IPO, will be used for deleveraging and SHOP acquisitions.
- The remaining OMF portfolio has higher occupancy and longer weighted average remaining lease term.
- The transaction is expected to close in the third or fourth quarter of 2026.