AR Global’s Healthcare Trust REIT to Internalize Management in Anticipation of Public Listing

Healthcare Trust Inc., a non-traded real estate investment trust sponsored by Nicholas Schorsch’s AR Global, announced that it intends to transition to self-management in anticipation of a potential future listing of its common stock on a national securities exchange.

The REIT, also known as HTI, expects the internalization to close no later than the fourth quarter of 2024, subject to negotiation and execution of definitive agreements. Depending on market conditions, it may seek a public listing as early as 2025.

“We are excited to embark on this next phase of our company and believe this is a milestone event for HTI,” said Michael Anderson, chief executive officer of Healthcare Trust Inc.

“We look forward to working with the adviser to consummate this internalization and better position ourselves for a potential listing, which we believe would provide HTI with access to additional capital and liquidity for our existing stockholders,” added Anderson.

The REIT also intends to change its name to National Healthcare Properties Inc. in connection with the internalization.

There is no assurance, however, that the internalization will close within the anticipated timeframe or at all, or that the REIT will be able to list its shares of common stock on a national securities exchange.

The REIT acquires, owns, and manages a diversified portfolio of healthcare-related real estate, focused on medical office and other healthcare-related buildings, and senior housing operating properties. As of March 31, 2024, the company owned 208 properties located in 33 states and comprised of 9.1 million rentable square feet. Its total assets were approximately $2.13 billion, about a 1.68% decrease from the previous year’s approximate $2.17 billion.

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