National Healthcare Properties

What National Healthcare Properties does

National Healthcare Properties (NASDAQ: NHP) is a publicly traded healthcare real estate investment trust headquartered at 540 Madison Avenue in New York City. The company owns and manages a $2.0B portfolio of 167 properties across 29 US states, structured around two complementary asset classes: an outpatient medical facilities portfolio and a senior housing portfolio. The outpatient medical segment comprises 130 buildings totaling 3.7 million square feet of gross leasable area, leased primarily to creditworthy health systems and physician groups under long-term triple-net structures with a 2.2% average annual rent escalator, 5.4-year weighted average remaining lease term, and 65.2% health system affiliation. The senior housing segment includes 37 communities with 3,615 units, of which 75% are concentrated in high-acuity assisted living and memory care, operated through collaborative partnerships with national operators including Discovery Senior Living, AgeWell Solvere, and Senior Lifestyle Corporation.

NHP generates revenue through two recurring rental streams: senior housing rental income from operator-managed communities and outpatient medical facility leases with healthcare system tenants. Senior housing occupancy stood at 85.2% and outpatient medical leased percentage at 92.8% as of the most recent disclosed period. The company deploys proprietary predictive analytics across its senior housing portfolio to provide real-time insights into resident fall and UTI risks, and works with operators to pilot AI-powered monitoring systems. NHP is publicly traded on NASDAQ under ticker NHP with shares around $16.08; shares were the subject of a MacKenzie Realty Capital tender offer for 300,000 shares at $7.27/share disclosed as of July 2026.

The go-to-market motion combines institutional investor relations via a dedicated investor portal and direct B2B relationship development with healthcare operators and health systems. Distribution is executed through the public equity market for capital and through field-based capital solutions (sale-leaseback, acquisition, and development financing) for tenant acquisition. Management is led by CEO and President Michael Anderson (since September 2023) and CFO and Treasurer Andrew Babin (since November 2025), supported by a Board of Directors chaired by Leslie D. Michelson.

Name

National Healthcare Properties

Legal name

National Healthcare Properties, Inc.

Website

https://nhpreit.com

Company type

Public

Founded year

2023

Operating status

Operating

Headcount range

11–50 employees

Short description

National Healthcare Properties is a publicly traded healthcare REIT that owns and manages a $2.0B portfolio of 167 outpatient medical and senior housing properties across 29 US states, generating recurring rental income from health system tenants and national senior housing operators.

Ownership category

akta.pro rank

Product category

Healthcare Real Estate Investment Trust (REIT)

NAICS

Lessors of Other Real Estate Property (53119)

SIC

Real Estate Investment Trusts (6798)

akta.pro primary industry

Healthcare & Senior Housing Real Estate Asset Management (BPAJAMAH)

akta.pro secondary industries

Healthcare & Medical Office Property Management (BPAJAGAF), Independent Living Real Estate Owners/Operators (REITs & Management Companies) (HLADAAAG)

Keywords

• Healthcare real estate
• Senior housing REIT
• Outpatient medical
• Medical office buildings
• Triple-net leases

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Senior Housing Rental Income: Revenue from senior housing communities operated by third-party management partners. The company earns rental income while operators handle day-to-day operations. Focus on high-acuity assisted living and memory care drives occupancy premiums.
2. Outpatient Medical Facility Leases: Long-term triple-net leases with creditworthy healthcare tenants including health systems, physician groups, and diagnostic providers. Leases include annual rent escalators (average 2.2%) and weighted average remaining term of 5.4 years.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

National Healthcare Properties is a publicly traded healthcare REIT that owns and operates two complementary real estate portfolios: a Senior Housing Portfolio of 37 communities with 3,615 units managed in partnership with national operators, and an Outpatient Medical Facilities Portfolio of 130 medical office buildings totaling 3.7 million square feet leased to health systems, physician groups, and diagnostic providers under long-term triple-net lease structures.

Product overview

National Healthcare Properties operates as a diversified healthcare REIT (Real Estate Investment Trust) structured as a balanced platform combining two complementary asset classes: Senior Housing Portfolio and Outpatient Medical Facilities Portfolio. The Senior Housing Portfolio includes 37 communities with 3,615 units focused on high-acuity assisted living and memory care, managed through collaborative partnerships with leading national operators. The Outpatient Medical Facilities Portfolio comprises 130 medical office buildings totaling 3.7 million square feet, leased to creditworthy healthcare providers under long-term triple-net lease structures. Together, these portfolios deliver approximately $2.0B in gross real estate value across 167 properties in 29 states, generating stable cash flow from senior housing and outpatient medical assets while capitalizing on aging demographics.

Differentiator

Problem solved

Functional benefit

Products and services

• Senior Housing Portfolio

Quantifiable outcome

• 92.8% leased for outpatient medical portfolio
• +4 more outcomes

Named customers12 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature1 record

Partnerships

13 partnerships are on record, tiered core and major.

• Aurora Health CarecoreOthersAnchor creditworthy health system tenant in outpatient medical portfolio. Provides essential healthcare services with stable lease obligations.
• AscensioncoreOthersMajor Catholic health system operating outpatient medical facilities under long-term lease with NHP. One of the largest nonprofit health systems in the United States.
• Adventist HealthcoreOthersfaith-based health system tenant providing outpatient medical services in NHP facilities across multiple states.
• HCA HealthcarecoreOthersLarge for-profit hospital operator and health system tenant in NHP's outpatient medical portfolio, providing essential healthcare services.
• UPMCcoreOthersUniversity of Pittsburgh Medical Center affiliated health system tenant with creditworthy profile and long-term lease commitments.
• Trinity HealthcoreOthersLarge Catholic health system operating across multiple states under long-term lease arrangements with NHP.
• Wellstar Health SystemcoreOthersGeorgia-based health system tenant providing outpatient medical services in NHP facilities.
• DaVitacoreOthersLeading dialysis provider operating in NHP's outpatient medical facilities under long-term lease arrangements.
• Quest DiagnosticsmajorOthersMajor diagnostic laboratory services provider as tenant in outpatient medical facilities.
• LabcorpmajorOthersLeading laboratory corporation operating diagnostic services in NHP outpatient medical portfolio.
• Discovery Senior LivingcoreStrategic or Co-development PartnerLeading national senior housing operator partner with deeply collaborative, long-term relationship. CEO Richard Hutchinson provides testimonial endorsement of NHP's proactive approach and industry expertise. Relationship drives occupancy optimization and operational performance across managed communities.
• AgeWell SolverecoreStrategic or Co-development PartnerSenior housing operator partner with collaborative relationship for assisted living and memory care communities.
• Senior Lifestyle CorporationcoreStrategic or Co-development PartnerNational senior housing operator partner managing communities within NHP's portfolio.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• American Healthcare REIT: American Healthcare REIT operates a diversified healthcare REIT combining senior housing operating, outpatient medical and triple-net properties. Its diversified model is structurally similar to NHP's balanced platform.
• LTC Properties: LTC is a small-cap healthcare REIT focused on seniors housing and skilled nursing triple-net leases, comparable to NHP in both asset mix and size bracket. Its operator-dependent model is a useful benchmark for NHP's senior housing strategy.
• Sabra Health Care REIT: Sabra owns senior housing, skilled nursing and behavioral health real estate operated under triple-net leases. It overlaps with NHP on the senior housing and outpatient healthcare facility leasing model at a similar mid-cap scale.
• Community Healthcare Trust: Community Healthcare Trust owns medical office buildings and outpatient facilities leased to non-urban healthcare tenants. The asset class and credit-tenant focus provide a useful comparison point to NHP's outpatient medical segment.
• CareTrust REIT: CareTrust is a publicly traded healthcare REIT focused on seniors housing and skilled nursing, with a comparable operator-led, capital-partner model. Its triple-net and RIDEA approach closely matches the structure NHP uses in senior housing.
• Global Medical REIT: Global Medical REIT owns a portfolio of outpatient medical facilities leased to health systems and physician groups, closely paralleling NHP's outpatient medical book. The credit-tenant, long-lease structure aligns with NHP's 5.4-year WALT strategy.
• Diversified Healthcare Trust: Diversified Healthcare Trust owns senior housing, medical office and other healthcare real estate operated under RIDEA and triple-net structures. Its mix of senior housing operating and outpatient medical parallels NHP's portfolio construction.

Broad incumbents

• Ventas: Ventas is a major diversified healthcare REIT combining senior housing operating, outpatient medical and research/life science assets. NHP's Ailin Park came from Ventas, and the comparable portfolio mix and creditworthy health-system tenant strategy make it a benchmark peer.
• Healthpeak Properties: Healthpeak is a leading medical office and life sciences REIT and one of the closest direct peers for NHP's outpatient medical portfolio. Its outpatient focus and credit-tenant lease strategy overlap almost entirely with NHP's 130-building medical book.
• Welltower: Welltower is the largest publicly traded healthcare REIT, with a senior housing operating portfolio and outpatient medical exposure that directly mirrors NHP's two-asset model. It is the dominant comparable for any diversified healthcare REIT, with Healthpeak and Ventas in similar peer roles at smaller scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/national-healthcare-properties

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds3 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about National Healthcare Properties