National Healthcare Properties Shares Slip 3.7% After $462 Million Ipo

National Healthcare Properties (NASDAQ: NHP) saw its stock price drop by 3.7% when the market opened Wednesday morning, following the launch of its initial public offering at $12 per share.

The real estate investment trust’s stock opened at $11.56 per share, Reuters reported. National Healthcare Properties initially sought to sell 38.5 million shares valued between $13 and $16, but the company on Tuesday announced the $12 per share price. The IPO raised $462 million compared to the aim it had of $616 million.

National Healthcare Properties did not respond to a request for comment.

The New York City-based REIT announced it plans to shift its focus more toward senior housing and signed a deal to sell 86 of its medical facilities for $528 million to fund its senior living investment pipeline, according to Reuters. At the time the IPO was announced, National Healthcare Properties had 37 communities consisting of 3,615 units in its senior housing operating portfolio, 76% of which offer assisted living and memory care.

Alongside its senior living portfolio, National Healthcare Properties had 130 outpatient medical facilities.

Part of the company’s focus on senior living comes from the performance of its portfolio, which saw net operating income increase by 23.3%, bringing in $42.5 million in 2025 compared to $34.5 million the previous year.

The announcement comes following the recent IPO launch of Janus Living, a spinoff from Healthpeak Properties (NYSE: DOC), whose stocks have ​gained 23.6% from offer price, as of last close, Reuters reports.

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