NHI to sell $560M NHC portfolio, doubles SHOP segment with $212M in acquisitions

Filed May 4, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 5, 2025 · ~2 min read

Key Changes

• high

  Announced sale of entire NHC portfolio (32 skilled nursing facilities, 3 independent living facilities) for $560M cash, closing July 2026 pending antitrust clearance. NHC represented 12% of revenues; proceeds redeployment risk flagged.

  MD&A: NHC Portfolio Disposition verify on EDGAR →
• high

  Acquired 16 senior housing properties for $212M (9 ALFs for $105M in Q1, 7 Colorado properties for $107M in Q2), more than doubling SHOP segment from 15 to 35 properties. SHOP NOI grew from $3.1M to $8.9M, now 10.6% of total NOI.

  MD&A: SHOP Segment Expansion verify on EDGAR →
• high

  Amended Bickford master leases to reset base rent at $38.4M annually with 2-3% escalators and new contingent rent tied to revenue performance. Bickford remains on cash-basis accounting due to going-concern doubts; loan maturities extended to 2029.

  MD&A: Bickford Lease Amendments verify on EDGAR →