National Healthcare Properties launches IPO of 38.5 million shares

National Healthcare Properties Inc. announced the launch of its initial public offering of 38.5 million shares of Class A common stock with an expected price range of $13.00 to $16.00 per share.

The real estate investment trust has filed a registration statement on Form S-11 with the Securities and Exchange Commission and applied to list its shares on the Nasdaq Global Select Market under the ticker "NHP." The company granted underwriters a 30-day option to purchase up to an additional 5.775 million shares to cover overallotments.

National Healthcare Properties plans to use net proceeds to repay approximately $186 million of outstanding debt under its revolving credit facility, fund future property acquisitions and support general corporate purposes.

Wells Fargo Securities, Morgan Stanley and BMO Capital Markets serve as lead book-running managers for the offering. Goldman Sachs & Co. LLC, RBC Capital Markets, Baird, Capital One Securities, Citizens Capital Markets, Fifth Third Securities, Huntington Capital Markets and KeyBanc Capital Markets act as bookrunners. Credit Agricole CIB and Synovus serve as co-managers.

The company focuses on acquiring healthcare real estate properties, with emphasis on senior housing and outpatient medical facilities in the United States. The registration statement has been filed with the SEC but has not yet been declared effective.

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