National Healthcare Properties, Inc. reported a net loss attributable to common stockholders of $24.2 million for the three months ended June 30, 2025, a significant improvement compared to a net loss of $119.9 million for the same period in 2024. Revenue from tenants decreased slightly to $85.3 million from $88.8 million year-over-year. The company’s total expenses for the quarter were $93.5 million, down from $189.0 million in the prior year, primarily due to the absence of operating fees to related parties following the internalization of management functions in September 2024.
For the six months ended June 30, 2025, the company reported a net loss of $29.2 million, compared to a net loss of $138.9 million for the same period in 2024. Revenue from tenants for the first half of 2025 was $171.8 million, down from $177.1 million in 2024. The decrease in revenue was attributed to the sale of properties and impairment charges totaling $27.1 million, primarily related to two held-for-use properties. The company disposed of 15 held-for-use outpatient medical facilities (OMFs) and three senior housing operating properties (SHOPs) during the first half of 2025, generating a total sales price of $189.8 million and a gain of $27.6 million.
Operationally, National Healthcare Properties owned 175 properties across 30 states as of June 30, 2025, with a total rentable square footage of 7.3 million. The company reported an occupancy rate of 91.0% for its OMF segment and 83.0% for its SHOP segment. The company’s cash and cash equivalents increased to $47.1 million, up from $21.7 million at the end of 2024, reflecting improved liquidity. The company also repurchased 56,916 shares of Series A Preferred Stock and 66,213 shares of Series B Preferred Stock during the second quarter under its $50 million repurchase program.
Looking ahead, National Healthcare Properties anticipates continued challenges from inflation and rising interest rates, which may impact its operations and tenants' ability to pay rent. The company plans to fund its future liquidity needs through a combination of cash on hand, net cash from operations, and potential new financings. The management remains focused on optimizing its portfolio and enhancing operational efficiencies following the internalization of its management functions.
About National Healthcare Properties, Inc.
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