National Healthcare Properties agrees to sell 40 outpatient medical facilities for $531 million
NHP•National Healthcare Properties signed an agreement to sell 40 outpatient medical facilities for $531 million, with closing targeted for the fourth quarter of 2026. It expects about $511 million in cash proceeds and has a non-binding letter of intent to sell four remaining facilities for $11 million.
1. Sale agreement
The $531 million sale implies a 6.9% nominal cap rate and a 6.5% economic cap rate based on trailing in-place cash NOI. National Healthcare Properties expects about $511 million in cash proceeds for revolver repayment, SHOP acquisitions and general corporate purposes, and says the transactions support a shift to a pure-play SHOP platform; net debt to further adjusted EBITDA is projected near 0x.
