National Healthcare Properties Sells 30 Medical Properties, Cuts $119M Debt
National Healthcare Properties Inc. (Nasdaq: NHP) closed the first tranche of its $528 million sale of 86 outpatient medical facilities, generating about $79 million in net cash proceeds.
The initial closing covered 30 of the 86 properties, with proceeds reported before transaction expenses and adjustments. NHP also used a portion of the proceeds to repay about $119 million in outstanding secured debt, including roughly $60 million tied to other outpatient medical facilities not included in the sale.
The transaction stems from a May 2026 purchase and sale agreement between NHP subsidiaries and a buyer the company has not publicly identified. AltsWire first reported the planned sale in May when NHP disclosed the deal for the 1.7-million-square-foot portfolio. At the time, Michael Anderson, chief executive officer, said the sale would “focus our overall business on the SHOP segment,” referring to senior housing operating properties, which the company projected would climb to roughly 60% of cash net operating income post-transaction, from 37% at the time of its April initial public offering.
The disposition is the latest step in NHP’s rapid reshaping of its balance sheet since its Nasdaq debut. The real estate investment trust, formerly the nontraded Healthcare Trust Inc., priced its IPO at $12 a share in April – below its initial range – before closing its overallotment to bring total proceeds to $531 million.
It then launched a $100 million tender offer for its Series A and Series B preferred stock at $22.50 a share in May as part of what AltsWire termed a “capital stack cleanup”; that offer drew just $25.3 million in tenders when it closed in June, as most preferred holders opted to keep collecting dividends above 7%. The same month, MacKenzie Capital Management launched an unsolicited mini-tender for NHP’s unlisted common stock at a 47% discount to its Nasdaq price, an offer NHP’s board declined to recommend.
The remaining 56 properties in the outpatient medical portfolio are expected to close in the third or fourth quarter of 2026, subject to customary conditions, NHP said.
Visit the AltsWire directory page.
