National Healthcare Properties Completes Sale of 30 Multi-Tenant OMFs for $198 Million
NHP advances its $528 million outpatient medical facility sale while using proceeds to repay secured term loans and cut leverage.
Rhea-AI Summary
National Healthcare Properties (NHP) has closed the first tranche of its sale of 86 outpatient medical facilities for approximately $528 million. This completed tranche consists primarily of multi-tenant properties and generated about $79 million in net cash proceeds before transaction expenses, property operating prorations and other adjustments.
The buyer is expected to close on the remaining 56 facilities in the fourth quarter of 2026, subject to customary conditions and assumption of roughly $220 million of secured debt under Secured Term Loan 4 due 2033. In connection with the sale, the company fully repaid Secured Term Loan 1 due 2028 and Secured Term Loan 3 due 2031, totaling $119 million, including $60 million secured by other outpatient medical facilities, which reduces secured indebtedness and increases capital flexibility.
Positive
- Completed first tranche of 86 outpatient medical facilities sold for approximately $528 million
- Net cash proceeds of about $79 million before expenses and adjustments
- Secured debt repaid totaling $119 million across Secured Term Loans 1 and 3
- Buyer expected to assume approximately $220 million of secured debt on remaining 56 facilities
- $60 million of debt repaid on OMFs outside the 86-property sale, further reducing secured leverage
Negative
- None.
News Explained
The completed first tranche comprised 30 primarily multi-tenant outpatient medical facilities sold for approximately $198 million, providing a more specific measure of the transaction completed to date.
Key Figures
- First-tranche sale
- $198 million
- 30 multi-tenant OMFs
- Net cash proceeds
- $79 million
- Before transaction expenses, prorations and other adjustments
- Total portfolio sale
- $528 million
- Previously announced sale of 86 OMFs
- Remaining properties
- 56 OMFs
- Expected to close in the fourth quarter of 2026
- Assumed secured debt
- $220 million
- Debt associated with the remaining 56 OMFs
- Debt repaid
- $119 million
- Secured Term Loans 1 and 3
- Additional debt reduction
- $60 million
- Debt encumbering OMFs outside the sale portfolio
Key Terms
secured term loan financial
outpatient medical facilities technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Net Cash Proceeds of
Remainder of Sale Portfolio Expected to Close in the Fourth Quarter
NEW YORK, Sept. 10, 2026 (GLOBE NEWSWIRE) -- National Healthcare Properties, Inc. (Nasdaq: NHP) (the “Company”) announced today that it has completed the primarily multi-tenant first tranche of its previously announced sale of 86 outpatient medical facilities (“OMFs”) for approximately
In connection with the sale, the Company repaid in full its Secured Term Loan 1 due 2028 and Secured Term Loan 3 due in 2031, totaling
About National Healthcare Properties
National Healthcare Properties, Inc. (Nasdaq: NHP) is a self-managed real estate investment trust focused on acquiring, owning and investing in a diversified portfolio of healthcare real estate, with an emphasis on providing senior housing to serve a growing elderly population in the United States. Additional information about the Company can be found on its website at nhpreit.com.
Investor & Media Contact
Email: ir@nhpreit.com
Cautionary Statement Regarding Forward-Looking Statements
This press release may contain “forward-looking” statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the use of terminology such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “seek,” “will,” “may,” “should,” “predict,” “project,” “potential,” “continue” or the negatives of these terms or variations of them or similar expressions. Examples of forward-looking statements include statements regarding the closing of OMF disposition, the timing and expected benefits of the OMF disposition, future disposition opportunities and other statements regarding the Company’s future strategy. Risks and uncertainties, the occurrence of which could adversely affect the Company’s business and cause actual results to differ materially from those expressed or implied in the forward-looking statements, include, but are not limited to, the following: changes in economic cycles generally and in the real estate and healthcare markets specifically; the success of the Company’s growth strategy, including its ability to successfully identify, complete and integrate new acquisitions; the Company’s ability to complete acquisitions or dispositions on the terms and timing the Company expects, or at all; changes to inflation and interest rates; competition in the real estate and healthcare markets; the Company’s ability to retain certain key personnel; legislative and regulatory changes in the healthcare and real estate industries; reductions or changes in reimbursement from third-party payors, including Medicare and Medicaid; discovery of previously undetected environmentally hazardous conditions; the Company’s ability to pay down, refinance, restructure or extend its indebtedness as it becomes due; system failures, cyber incidents or deficiencies in the Company’s cybersecurity systems; the availability of capital on favorable terms, or at all; the Company’s ability to remain qualified as a real estate investment trust for U.S. federal income tax purposes; and other risks and uncertainties described in the section titled Risk Factors of the Company’s most recent Annual Report on Form 10-K and all other filings with the Securities and Exchange Commission. Finally, the Company assumes no obligation to update or revise any forward-looking statements or to update the reasons why actual results could differ from those projected in any forward-looking statements.
FAQ
What is expected to happen with the remaining 56 outpatient medical facilities in the sale portfolio?
The remaining 56 outpatient medical facilities are expected to close in the fourth quarter of 2026. Their closing is subject to customary closing conditions and the buyer’s assumption of approximately $220 million of secured debt under Secured Term Loan 4 due 2033.