National Healthcare Properties Announces Closing of New $550 Million Senior Unsecured Credit Facility
Rhea-AI Summary
National Healthcare Properties (Nasdaq: NHPAP) closed a new $550 million senior unsecured credit facility on December 11, 2025, consisting of a $400 million revolving credit facility and a $150 million term loan maturing in December 2028. The facility carries interest at SOFR + 1.55%–2.10% (margin tied to leverage), includes two one‑year extension options and an accordion to increase capacity by up to $450 million (totaling up to $1 billion) subject to conditions.
Proceeds repaid a $330 million secured term loan maturing December 2026; future borrowings are planned for acquisitions, working capital and general corporate purposes. Joint bookrunners and agents include Wells Fargo and BMO.
Positive
- New credit facility of $550 million closed
- Revolver of $400 million plus $150 million term loan
- Accordion increases capacity up to $1 billion
- Repaid $330 million secured term loan maturing Dec 2026
- Interest margin of SOFR +1.55%–2.10% (leverage-based)
Negative
- Facility is unsecured, potentially higher future refinancing risk
- Exposure to SOFR volatility affecting interest costs
- Term loan and revolver mature in Dec 2028, creating medium-term refinancing need
News Market Reaction – NHPBP
On the day this news was published, NHPBP gained 0.81%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
NEW YORK, Dec. 11, 2025 (GLOBE NEWSWIRE) -- National Healthcare Properties, Inc. (Nasdaq: NHPAP / NHPBP) (the “Company” or “NHP”) announced that it has closed a
The Credit Facility includes an “accordion feature” enabling NHP to increase the total borrowing capacity by up to an additional
Michael Anderson, Chief Executive Officer and President, noted, “The new Credit Facility strengthens our balance sheet and liquidity position as we continue to execute on our long-term growth strategy. This is an important first step in establishing a more flexible and efficient capital structure while also extending our debt maturity profile. We appreciate the support and confidence that our lending partners have placed in NHP.”
“The new Credit Facility provides current and future financial capacity to execute on our senior housing operating properties pipeline while offering flexibility to further our deleveraging strategy in a disciplined manner,” said Andrew Babin, Chief Financial Officer and Treasurer.
Wells Fargo Securities, LLC and BMO Bank N.A. served as the Joint Bookrunners with Wells Fargo Bank, National Association acting as the Administrative Agent. Wells Fargo Securities, LLC, BMO Bank N.A., Capital One, National Association, Citizens Bank, N.A., Fifth Third Bank, National Association, Huntington National Bank, KeyBanc Capital Markets Inc. and Royal Bank of Canada served as the Joint Bookrunners. Capital One, National Association, Citizens Bank, N.A., Fifth Third Bank, National Association, Huntington National Bank, KeyBank National Association, and Royal Bank of Canada served as Documentation Agents. Greenberg Traurig, LLP served as counsel to NHP.
About National Healthcare Properties, Inc.
National Healthcare Properties, Inc. (Nasdaq: NHPAP / NHPBP) is a publicly registered real estate investment trust focused on acquiring a diversified portfolio of healthcare real estate, with an emphasis on seniors housing and outpatient medical facilities located in the United States. Additional information about NHP can be found on its website at nhpreit.com.
Forward-Looking Statements
This press release may contain “forward-looking” statements as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements concern and are based upon, among other things, the potential growth of NHP’s portfolio; the sale of properties; the performance of its operators/tenants and properties; its ability to enter into agreements with new viable tenants for vacant space on favorable terms, or at all; its occupancy rates; its ability to acquire, develop and/or manage properties; its ability to make distributions to shareholders; its policies and plans regarding investments, financings and other matters; its tax status as a real estate investment trust; its critical accounting policies; its ability to appropriately balance the use of debt and equity; its ability to access capital markets or other sources of funds; and its ability to finance and complete, and the effect of, future acquisitions. When NHP uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties. NHP’s expected results may not be achieved, and actual results may differ materially from expectations. This may be a result of various factors, including, but not limited, the risks and uncertainties described in the section titled Risk Factors of its most recent Annual Report on Form 10-K for the year ended December 31, 2024 and all other filings with the Securities and Exchange Commission. Finally, NHP 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.
Contacts
Investors and Media:
Email: ir@nhpreit.com
FAQ
What did NHPAP announce on December 11, 2025 regarding a credit facility?
How can NHPAP increase the borrowing capacity of the new credit facility?
What interest rate terms apply to NHPAP's new credit facility?
What did NHPAP use proceeds from the new facility to repay?
What will NHPAP use future borrowings from the facility for?
Who served as joint bookrunners and administrative agent on the NHPAP facility?
