National Healthcare Properties completes first tranche of OMF sale

New York - National Healthcare Properties, Inc. has successfully completed the initial segment of its sale, selling 86 outpatient medical facilities for around $528 million, according to a press release. The company finalized the primarily multi-tenant first tranche and used the funds to pay off two secured term loans totaling $119 million.

One of these loans, Secured Term Loan 1, had a due date of 2028, while another, Secured Term Loan 3, was due in 2031. Of this repayment, $60 million was for properties not included in the 86-facility sale. The deal resulted in approximately $79 million in net cash proceeds before accounting for transaction expenses, property operating prorations, and other adjustments.

The remaining 56 outpatient medical facilities are expected to close in the fourth quarter of 2026, contingent on the buyer assuming roughly $220 million in secured debt, including Secured Term Loan 4 due in 2033, and fulfilling customary closing conditions. National Healthcare Properties, a self-managed real estate investment trust, specializes in healthcare real estate, primarily focusing on senior housing facilities across the United States.