National Healthcare Properties (NHPAP) Company Report

National Healthcare Properties, Inc. (NHPAP) entered into a new credit agreement on December 11, 2025, establishing a $400 million senior unsecured revolving credit facility and a $150 million senior unsecured term loan facility, totaling $550 million.
These new facilities, which mature on December 11, 2028, and can be extended for two one-year periods, replace and pay off a prior loan agreement from December 20, 2019.
The Operating Partnership has the option to increase lending commitments by up to an additional $450 million, with funds primarily designated for general corporate purposes, including debt repayment, real estate acquisitions, development costs, and capital expenditures.
Interest rates for the facilities are variable, ranging from a base rate plus 0.55% to 1.10% or Daily Simple SOFR/Term SOFR plus 1.55% to 2.10%, based on the company's consolidated leverage ratio.

Dec 11, 2025, 9:59 PM

National Healthcare Properties Announces Q3 2025 Results

NHPAP

Earnings

Dividends

Share Buyback

National Healthcare Properties, Inc. reported a net loss of $(0.56) per basic and diluted share for Q3 2025.
Funds from Operations (FFO) per diluted share was $0.23, marking a 21.1% increase quarter-over-quarter, while Adjusted Funds from Operations (AFFO) per diluted share was $0.36, an increase of 12.5% quarter-over-quarter.
The company's portfolio achieved 12.2% year-over-year growth in Same Store Cash Net Operating Income (NOI) for Q3 2025, with the Senior Housing Operating Property (SHOP) segment growing 27.2% and the Outpatient Medical Facility (OMF) segment growing 4.7%.
As of September 30, 2025, total debt outstanding was $1.0 billion, and Net Leverage (Net Debt to Annualized Adjusted EBITDA) improved to 8.9x.
The Board of Directors declared preferred stock dividends of $0.4609375 per share for Series A and $0.4453125 per share for Series B, paid on October 15, 2025. Additionally, the company repurchased $4.5 million of preferred stock during the nine months ended September 30, 2025.