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National Healthcare Properties Inc's Business Segments
National Healthcare Properties Inc's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Segment Data As of Q1 FY2026
Reportable Segments
2
Largest Segment
Seniors Housing Communities
Total Revenue
$ 86
Regions Reported
-
Revenue Share by Reportable Segment - Q1 FY2026
- Seniors Housing Communities66.8%
- Outpatient Medical Facilities33.2%
Revenue by Reportable Segment - Q1 FY2026
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Seniors Housing Communities | $ 58 | 66.8% |
| Outpatient Medical Facilities | $ 29 | 33.2% |
Description of National Healthcare Properties Inc
The registrant is a real estate investment trust (REIT) specializing in the acquisition, ownership, and management of healthcare real estate assets in the United States. Its operations are organized into two segments: Senior Housing Operating Properties (SHOP) and Outpatient Medical Facilities (OMF). As of December 31, 2025, the registrant owned 167 properties across 29 states, including 37 senior housing communities with 3,615 units and 130 outpatient medical facilities totaling approximately 3.7 million square feet of gross leasable area. The SHOP segment comprises assisted living, memory care, and independent living communities operating under the REIT Investment Diversification and Empowerment Act of 2007 (RIDEA) structure, which permits participation in operating performance risks and rewards. The OMF segment consists of properties leased to healthcare service providers such as physicians’ offices, pharmacies, diagnostic centers, and ambulatory surgery centers, often situated near hospital campuses to support occupancy and tenant retention. The registrant finances its investments through a combination of secured and unsecured debt, a revolving credit facility, and Fannie Mae secured debt, and uses derivative instruments to manage interest rate exposure. It elected REIT tax status in 2013 and maintains this status by adhering to applicable distribution and operational requirements.
The registrant operates two reportable business segments: SHOP and OMF. As of December 31, 2025, the SHOP segment included 37 senior housing communities with a total of 3,615 units, comprising 1,895 assisted living units, 838 memory care units, and 882 independent living units, all operating under the RIDEA structure. The SHOP segment focuses on assisted living and memory care services for residents requiring daily living assistance. The OMF segment consisted of 130 outpatient medical facilities totaling approximately 3.7 million square feet of gross leasable area. The registrant's investment policies prioritize investments that generate current income, with a primary focus on SHOP properties, but may include other property types without geographic or asset percentage restrictions. The registrant internalized its advisory and property management functions on September 27, 2024, and completed a reverse stock split on September 30, 2024.