National Healthcare Properties sells $531 million assets

• National Healthcare Properties agreed to sell 40 outpatient medical facilities for approximately $531 million.
• The transaction is expected to generate about $511 million in cash proceeds before expenses and property adjustments.
• The company said the sale is part of its plan to exit outpatient medical facilities and expand its senior housing portfolio.

National Healthcare Properties (NYSE:NHP) agreed to sell 40 outpatient medical facilities for approximately $531 million, with closing expected in the fourth quarter of 2026.

The transaction represents a 6.9% nominal cap rate and a 6.5% economic cap rate after adjustments, while estimated cash proceeds are expected to reach approximately $511 million before transaction expenses and property operating prorations.

National Healthcare Properties said a non-binding letter of intent also covers its remaining four outpatient facilities for $11 million in gross proceeds, while a previously announced sale includes 86 facilities valued at approximately $528 million.

National Healthcare Properties owns and manages healthcare-related real estate assets, including outpatient medical facilities and senior housing properties.

The company said signed agreements and non-binding letters of intent cover approximately $244 million of senior housing acquisitions and 724 units, and that completed transactions are expected to support a reduction in net debt relative to adjusted EBITDA.