Core Insights - National Healthcare Properties, Inc. reported strong second quarter results, highlighting significant growth in same store cash net operating income across both Senior Housing Operating Property and Outpatient Medical Facility segments [2][3] Financial Performance and Other Highlights - The company achieved a net loss of $(0.85) per basic and diluted share, with Nareit defined Funds from Operations (FFO) of $0.19 per diluted share, and Adjusted Funds from Operations (AFFO) of $0.32 per diluted share [8] - FFO per share increased by 35.7% quarter-over-quarter, while AFFO per share saw a 3.2% increase [8] - Same Store Cash Net Operating Income (NOI) growth was 8.5% year-over-year, with the SHOP segment experiencing a 17.3% increase and the OMF segment a 4.4% increase [8] - The company completed dispositions totaling $21.4 million, resulting in a net gain of $2.7 million [4][8] Operating Update - The company disposed of three non-core Outpatient Medical Facilities (OMFs) and three non-core Senior Housing Operating Properties (SHOPs) during the quarter [4] - Year-to-date, the company has paid down $83.1 million of debt using proceeds from these dispositions [5] Balance Sheet and Capital - As of June 30, 2025, total debt outstanding was $1.0 billion with a weighted average interest rate of 5.1% and an average remaining term of 3.7 years [5] - Net Leverage (Net Debt to Annualized Adjusted EBITDA) improved to 9.3x, a 0.4x improvement from March 31, 2025 [6] Preferred Stock - The company repurchased $1.8 million of previously outstanding shares of preferred stock at a weighted average yield of 12.8%, reducing leverage by $1.3 million on a "Net Debt + Preferred" basis [9][14]