National Healthcare Properties, Inc.

National Healthcare Properties, Inc. is a self-managed real estate investment trust (REIT) headquartered in New York, NY. The company's core business involves acquiring, owning, and managing a diversified portfolio of healthcare-related real estate across the United States. Its mission is to capitalize on the demographic trend of an aging American population by specializing in both senior housing and outpatient medical assets, aiming to deliver long-term value to its shareholders.

The company operates primarily through two segments: Outpatient Medical Facilities (OMF) and Senior Housing Operating Properties (SHOP). The OMF segment includes single and multi-tenant facilities where tenants typically pay rent and a share of operating expenses. The SHOP segment comprises senior housing communities managed under the REIT Investment Diversification and Empowerment Act (RIDEA) framework, often utilizing eligible independent contractors. As of September 30, 2025, National Healthcare Properties owned 174 properties, including 40 SHOPs, across 30 states, encompassing approximately 7.3 million rentable square feet. The company is currently in a transitional phase, shifting its portfolio focus more towards senior housing.

Michael Anderson serves as the Chief Executive Officer, having been appointed in September 2023. In April 2026, National Healthcare Properties completed a public offering of 38.5 million Class A common shares, with underwriters exercising an option for an additional 5.775 million shares, to repay debt and fund future acquisitions. The company is positioned as a diversified healthcare REIT, leveraging favorable macroeconomic and demographic trends to pursue a balanced investment strategy that combines stable income from its outpatient portfolio with growth opportunities in senior housing.