$NHPBP
National Healthcare Properties, Inc.
CIK:0001561032|SEC Filings
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | ||||
|---|---|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
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| Income Statement [Abstract] | ||||||
| Revenue from tenants | $ 87,530 | $ 85,332 | $ 173,815 | $ 171,775 | ||
| Operating expenses: | ||||||
| Property operating and maintenance | 54,119 | 54,179 | 107,037 | 112,035 | ||
| Impairment charges | 3,780 | 15,212 | 3,780 | 27,111 | ||
| Acquisition and transaction related | 130 | 497 | 183 | 548 | ||
| General and administrative | 6,604 | 5,075 | 12,071 | 9,971 | ||
| Depreciation and amortization | 17,811 | 18,539 | 35,549 | 42,245 | ||
| Total expenses | 82,444 | 93,502 | 158,620 | 191,910 | ||
| Operating income (loss) before gain (loss) on sale of real estate investments | 5,086 | (8,170) | 15,195 | (20,135) | ||
| Gain (loss) on sale of real estate investments | 0 | 2,652 | (2) | 27,641 | ||
| Operating income (loss) | 5,086 | (5,518) | 15,193 | 7,506 | ||
| Other income (expense): | ||||||
| Interest expense | (12,723) | (15,836) | (27,394) | (30,365) | ||
| Interest and other income, net | 2,345 | 231 | 2,516 | 216 | ||
| Gain on extinguishment of debt | 0 | 257 | 0 | 257 | ||
| (Loss) gain on non-designated derivatives | (47) | 32 | 142 | 31 | ||
| Total other expenses, net | (10,425) | (15,316) | (24,736) | (29,861) | ||
| Loss before income taxes | (5,339) | (20,834) | (9,543) | (22,355) | ||
| Income tax (expense) benefit | (47) | 0 | (124) | 6 | ||
| Net loss | (5,386) | (20,834) | (9,667) | (22,349) | ||
| Net loss (income) attributable to non-controlling interests | 30 | 31 | 2 | (23) | ||
| Allocation for preferred stock | (2,785) | (3,386) | (6,079) | (6,836) | ||
| Net loss attributable to common stockholders | (8,141) | (24,189) | (15,744) | (29,208) | ||
| Other comprehensive loss: | ||||||
| Unrealized loss on designated derivatives | (266) | (2,205) | (794) | (7,199) | ||
| Comprehensive loss attributable to common stockholders | $ (8,407) | $ (26,394) | $ (16,538) | $ (36,407) | ||
| Weighted-average shares outstanding - Basic (in shares) | [1] | 61,597 | 28,296 | 45,059 | 28,296 | |
| Weighted-average shares outstanding - Diluted (in shares) | [1] | 61,597 | 28,296 | 45,059 | 28,296 | |
| Net loss per share attributable to common stockholders - Basic (in usd per share) | [1] | $ (0.13) | $ (0.85) | $ (0.35) | $ (1.03) | |
| Net loss per share attributable to common stockholders - Diluted (in usd per share) | [1] | $ (0.13) | $ (0.85) | $ (0.35) | $ (1.03) | |
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CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands |
Jun. 30, 2026 |
Dec. 31, 2025 |
|---|---|---|
| Real estate investments, at cost: | ||
| Land | $ 181,140 | $ 174,535 |
| Buildings, fixtures and improvements | 1,859,780 | 1,785,952 |
| Acquired intangible assets | 250,440 | 246,544 |
| Construction in progress | 7,170 | 2,994 |
| Total real estate investments, at cost | 2,298,530 | 2,210,025 |
| Less: accumulated depreciation and amortization | (706,002) | (691,200) |
| Total real estate investments, net | 1,592,528 | 1,518,825 |
| Cash and cash equivalents | 245,695 | 57,620 |
| Restricted cash | 56,681 | 50,832 |
| Derivative assets, at fair value | 2,367 | 569 |
| Straight-line rent receivable, net | 21,924 | 21,486 |
| Operating lease right-of-use assets | 7,299 | 7,377 |
| Prepaid expenses and other assets, net | 22,417 | 23,019 |
| Accounts receivable, net | 7,157 | 9,252 |
| Deferred costs, net | 20,201 | 22,792 |
| Total assets | 1,976,269 | 1,711,772 |
| Liabilities | ||
| Mortgage notes payable, net | 367,629 | 367,629 |
| Market lease intangible liabilities, net | 4,381 | 4,851 |
| Derivative liabilities, at fair value | 0 | 188 |
| Accounts payable and accrued expenses | 48,249 | 44,381 |
| Operating lease liabilities | 8,417 | 8,467 |
| Deferred rent | 7,038 | 9,247 |
| Distributions payable | 2,808 | 3,340 |
| Total liabilities | 919,050 | 1,107,247 |
| Commitments and Contingencies | ||
| Equity | ||
| Additional paid-in capital | 3,001,481 | 2,531,315 |
| Accumulated other comprehensive income | 4,810 | 5,604 |
| Distributions in excess of accumulated earnings | (1,953,804) | (1,938,060) |
| Total stockholders’ equity | 1,054,124 | 600,064 |
| Non-controlling interests | 3,095 | 4,461 |
| Total equity | 1,057,219 | 604,525 |
| Total liabilities and equity | 1,976,269 | 1,711,772 |
| Series A Preferred Stock | ||
| Equity | ||
| Preferred stock | 33 | 38 |
| Series B Preferred Stock | ||
| Equity | ||
| Preferred stock | 29 | 35 |
| Common Stock | ||
| Equity | ||
| Common stock | 1,132 | 1,132 |
| Class A Common Stock | ||
| Equity | ||
| Common stock | 443 | 0 |
| Secured Debt | Fannie Mae Secured Debt | ||
| Liabilities | ||
| Fannie Mae secured debt/ Revolving credit facility / Term Loan, net | 331,854 | 334,739 |
| Secured Debt | 2025 Credit Agreement | ||
| Liabilities | ||
| Fannie Mae secured debt/ Revolving credit facility / Term Loan, net | 148,674 | 148,405 |
| Revolving Credit Facility | 2025 Credit Agreement | ||
| Liabilities | ||
| Fannie Mae secured debt/ Revolving credit facility / Term Loan, net | $ 0 | $ 186,000 |