National Healthcare Properties, Inc.

National Healthcare Properties, Inc. is a real estate investment trust (REIT) that acquires, owns, and manages a diversified portfolio of healthcare real estate assets in the United States. The company focuses on senior housing operating properties (SHOP) and outpatient medical facilities (OMF). It operates in two reportable business segments: SHOP and OMF. As of December 31, 2025, National Healthcare Properties, Inc. owned 167 properties and a land parcel located in 29 states. This portfolio included 37 senior housing communities with 3,615 units in its SHOP segment, and 130 outpatient medical facilities with approximately 3.7 million square feet of gross leasable area (GLA) in its OMF segment. Prior to September 27, 2024, an external advisor managed the company's daily business. On September 27, 2024, the company internalized its advisory and property management functions with its own dedicated workforce. On September 30, 2024, the company also effected a reverse stock split where every four shares of common stock combined into one share. The company generally seeks investments that produce current income and expects its future real estate investments to primarily focus on SHOPs.