National Healthcare Properties (NHP)

The senior housing operating properties segment includes assisted living, memory care, and independent living communities. These assets serve residents who need varying levels of support, with memory care and assisted living generally driven by needs-based demand. This segment contributes the majority of the company’s revenue, making occupancy, resident rates, labor costs, and local market conditions important factors in its performance.

The outpatient medical facilities segment covers properties used for physician offices, examination rooms, pharmacies, hospital ancillary services, and other outpatient care. These facilities are part of a broader shift in healthcare toward convenient, lower-cost settings where patients can receive diagnostics, consultations, procedures, and follow-up care without a full hospital admission.

As a REIT, National Healthcare Properties is primarily a property owner and operator rather than a healthcare provider. Its business depends on acquiring suitable assets, maintaining and leasing facilities, managing operating partners where applicable, and generating rental or property-level income. The company’s focus on both senior living and outpatient medical real estate gives it a diversified healthcare property platform, while still leaving it closely tied to regulatory, reimbursement, staffing, and real estate market conditions across the healthcare sector.