National Healthcare Properties, Inc.
For the period ended Dec 31, 2025. Filed Feb 20, 2026.
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FY2025 · Filed Feb 20, 2026
NHPBP$25.44+0.0%Stored close · as of Oct 5, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets as of December 31, 202 and
CONSOLIDATED BALANCE SHEETS
(In thousands, except share and per share data)
| December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| ASSETS | ||
| Real estate investments, at cost: | ||
| Land | $174,535 | $190,082 |
| Buildings, fixtures and improvements | 1,785,952 | 2,012,401 |
| Acquired intangible assets | 246,544 | 284,447 |
| Construction in progress | 2,994 | 7,867 |
| Total real estate investments, at cost | 2,210,025 | 2,494,797 |
| Less: accumulated depreciation and amortization | (691,200) | (725,831) |
| Total real estate investments, net | 1,518,825 | 1,768,966 |
| Cash and cash equivalents | 57,620 | 21,652 |
| Restricted cash | 50,832 | 52,443 |
| Derivative assets, at fair value | 569 | 19,206 |
| Straight-line rent receivable, net | 21,486 | 22,841 |
| Operating lease right-of-use assets | 7,377 | 7,480 |
| Prepaid expenses and other assets, net | 23,019 | 26,316 |
| Accounts receivable, net | 9,252 | 5,850 |
| Deferred costs, net | 22,792 | 21,269 |
| Total assets | $1,711,772 | $1,946,023 |
| LIABILITIES AND EQUITY | ||
| Liabilities | ||
| Mortgage notes payable, net | $367,629 | $779,160 |
| Fannie Mae and other secured debt | 334,739 | 362,216 |
| Revolving credit facility | 186,000 | — |
| Term loan, net | 148,405 | — |
| Market lease intangible liabilities, net | 4,851 | 6,125 |
| Derivative liabilities, at fair value | 188 | — |
| Accounts payable and accrued expenses | 44,381 | 89,575 |
| Operating lease liabilities | 8,467 | 8,109 |
| Deferred rent | 9,247 | 7,217 |
| Distributions payable | 3,340 | 3,496 |
| Total liabilities | 1,107,247 | 1,255,898 |
| Commitments and Contingencies | ||
| Equity | ||
| 7.375% Series A cumulative redeemable perpetual preferred stock, $0.01 par value, 4,608,371 and 4,740,000 authorized as of December 31, 2025 and 2024, respectively; 3,845,515 and 3,977,144 issued and outstanding as of December 31, 2025 and 2024, respectively | 38 | 40 |
| 7.125% Series B cumulative redeemable perpetual preferred stock, $0.01 par value, 3,466,656 and 3,680,000 authorized as of December 31, 2025 and 2024, respectively; 3,416,656 and 3,630,000 issued and outstanding as of December 31, 2025 and 2024, respectively | 35 | 36 |
| Common stock, 0.01 par value, 300,000,000 shares authorized; 28,426,694 and 28,296,439 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 1,132 | 1,132 |
| Additional paid-in capital | 2,531,315 | 2,533,706 |
| Accumulated other comprehensive income | 5,604 | 16,640 |
| Distributions in excess of accumulated earnings | (1,938,060) | (1,866,994) |
| Total stockholders’ equity | 600,064 | 684,560 |
| Non-controlling interests | 4,461 | 5,565 |
| Total equity | 604,525 | 690,125 |
| Total liabilities and equity | $1,711,772 | $1,946,023 |
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