HTIA - Earnings call 1 2023 | National Healthcare Properties, Inc.

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Operator

Welcome to the First Quarter 2023 Healthcare Trust Inc. or HTI Webcast. [Operator Instructions] Please note this event is being recorded.

Also note that certain statements and assumptions in this webcast presentation, which are not historical facts, will be forward-looking and are being made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain assumptions and risk factors, which could cause HTI's actual results to differ materially from the forward-looking statements. all you the SEC XXXX, more year March our XXXX, of Form including filed detailed all after business. these XX, for filings differences risk XX-K ended and could discussion refer of to for factors filings, our the on that the We date SEC that a cause other December impact XX, and

Form as HTI. a call, part provided will measures presentation for GAAP. year in the discuss These for December of most directly measures as we measures HTI XX, the and considered with ended should as on available XXXX, the www.healthcaretrustinc.com. today's to results first During isolation on quarter a of at of financial financial or substitution the accordance for these prepared be measure HTI's XX-K HTI XXXX not non-GAAP website investor reconciliation in comparable for part GAAP of has both report the annual HTI

of may the screen today's You presentation. note on later like go website. Relations ahead, member this and today, Chief after our the Please Officer. call of Weil, to on Executive turn presentation questions the a group directly a that webcast them Investor over available into please answer submit this by follow Mike. and box webcast the up I typing a copy be to Also, during replay will will now of HTI's would to questions Michael

Edward Weil

income, We by $X of owning all of seniors the high-quality in NOI and of million cap first the up forward HTI pleased report first XXXX, at to built quarter a the X.X%. to accretive our strategy by and a NOI, first the pipeline. of quarter, $XX.X quarter thank $XX.X average remain I'm MOB nearly medical acquisitions acquisitions MOB quarter million you from buildings operating net on long-term completed office that We the first X Thanks, confident weighted $XX.X closed joining grew for leasing U.S. compared quarter today. in during to housing us Curtis, XXXX. across a for the million grew in segment, or of In X.X% million, rate total and

grew addition we've built foot expected rent MOB our over SHOP first million by straight-line $X.X investments markets. which that portfolio. to In collection the XX.X% and segment, to a quarter higher our In competitors differentiate driven assuming we continue will Throughout the annualized the XXXX, from acquisitions, $X.X leasing increase maintained XX.X% and million, continue to to cash in the XXX% of effects pipeline We increase square to MOB as first XX.X% in NOI subside, occupancy MOB commence. rent pandemic by that nearly XX,XXX made COVID-XX our these or compared quarter believe the properties increase revenue. pandemic, SHOP and occupancy we've is the was to leases from of occupancy XX% same by

balance the at sheet. Looking

XX we encumbered the completed were MOBs. grow it realities net March covenants. We're $XXX health used loan the commercial of repay XX.X%. of Subsequent and have financing will loan credit and a care HTI restrictive security XX, that current facility, terminate to which environment. our the leverage removed this quarter end, our dynamic and respond enhance previous from to estate As of proceeds corporate believe completed of real of portion million pleased to to had the capacity by XXXX, mortgage-backed to A our

it our leasing our to positively Board portfolio, We well our the buildings when accretive believe high-quality evaluate impact SHOP future. decides of space of a all continued the as the in completing tenants liquidity to consider event and dispositions, to in our corporate acquisitions office factors execution initiatives, medical including enhancement will as likely available

rental in XX% MOB owned medical and The Based March million properties HTI escalators XX, totaling over medical with X.X assets. end, and over lease SHOP of and feet land future square individual rentable of X.X was NOI, housing of which XX portfolio approximately units At office X that XXXX, payments our leases, annual XX.X% XX% remaining was term over on a weighted periods. portfolio properties, states. of X,XXX the on office rent the consisted X.X% quarter parcels. operating buildings, occupied XX with increased averaged XX% portfolio years building XXX average seniors As cash of in XXX featured comprised

MOB a diligently select high-quality U.S. continue into throughout the assets assets and to and SHOP We've portfolio of constructed deploy capital

of representing portfolio Center and Florida, is baby where total states more Our the Pittsburgh where than square we feet. a across with of X strong portfolio only states XX% the large and relationship Medical a population of XX by housing have boomers. with University serve geographically senior Pennsylvania, well-diversified MOBs

success tenants the our estate The portfolio. to of real our of care essential quality is health

Our long-term not practitioners to developing the for asset will residents who and properties. live only with work focused well-respected superior benefits we contribute which but strong HTI, strategy management believe and relationships is at on for our brands, also

Aurora tenants MOB Our includes University of and as Pittsburgh Ascension. portfolio top Medical the DaVita, such Center,

XX operators X Jaybird Lifestyle leaders. in We've Senior from to SHOP and industry including Corporation, brands XXXX streamlined Senior Living consolidated and our X, over

our see As trust current and we our we residents our for we operators, facilities. SHOP with tenants at to portfolio high-quality MOB to add to strong care to develop who continue portfolio, relationships grow to HTI's

we total rate remaining positioned to average cap million. quarter, the had average and New believe We acquisitions office well medical seeking we're During opportunistic cap diligently acquisitions weighted a X.X% XX.X a years. for accretive a of term weighted $XX.X of buildings in lease Oregon These rates. continue at X acquired York of and

take our you through Scott, please? financials, us will

Scott Lappetito

Thank you, Mike.

manage We the structure our quarter. actively first continue during to capital

XXXX, As XX, XX.X%. net leverage of March was

$XX refinanced and general and CMBS terminated rate. Additionally, term interest-only million years at that an to approximately end, our quarter This financing a as other among interest Mike acquisitions purposes. mentioned which, earlier, into financing $XXX credit has for a entered facility, XX corporate X.XXX% subsequent things, provided new of we million

to by continues our MOB growing on initiatives execute occupancy and NOI. operational increasing SHOP HTI

grown XX,XXX our the of Mike As first square XX.X% leases in earlier, all as feet of increased. SHOP MOB the rent new segment leases pipeline segment XX.X% XXXX portfolio, revenue when straight-line annualized our to to NOI has of from over base quarter million is expected of to dramatically year-over-year the $X.X occupancy mentioned of this commence. In million in in by $X.X increase

of to X.X% be non-GAAP to Mike continues to HTI A on would due some the like now our found million, investor $XX.X measures net be Our resilient, and NOI presentation. year-over-year to for to our portfolio GAAP in in income the to call team can back segment MOB primarily acquisitions. by color some closing reconciliation the MOB growing remarks. turn I high-quality

Edward Weil

Scott. Thanks,

growth capitalizing We for event other and continue space earnings leasing long-term by, to things, MOB among liquidity a and available acquiring high-quality on HTI position properties.

Our to portfolio NOI continues nearly leasing the compared rent as MOB portfolio first portfolio our to the collected and year. pipeline the quarter, in demonstrate resilience in grew we all SHOP due last built in its cash a robust

maximize favor We to have our that We the have team the management estate. drive long-term place team trends right in real we health long-term we in an that strategy created is opportunities demographic to believe value. well-positioned believe to by care experienced investment execute

years experience hundreds Ruggiero his HTI's and evaluating potential to real and estate collectively of team our over side, year MOB bring David to the transactions and advisor, while of strict standards. investment On per guidelines adhering XX negotiating underwriting

local leased, and managers. performing property in properties the seniors are the significant our his collectively has over manager improvements of advisor's ensures team housing that space and HTI, is estate as Rimbach extensive acquisitions are and to portfolio asset that through existing and John's on our Taylor leadership advising real Trent dispositions. met interacting potential this our bring experience needs for with experience portfolio, our of to John the by team made tenants' and portfolio. years SHOP being expected XXX our including and segment team SHOP has Supplementing operators

increase operations segment facilities, from vast and perspective this bring our of and sales Michelle to We're and experience portfolio by MOB to joined as our SHOP team's with performance of pleased NOI, year, also encouraged and and Lindsay portfolio. families. their and COVID-XX, our the to impacts the our new portfolio to SHOP seniors at bringing groups year-over-year forward This Gordon SHOP have team, We're and attractiveness reflecting recovery team of dependable properties. the in the of both the to to but dedication continued strong, the Stepinsky operations, knowledge accessibility part of ongoing improving only they'll our results the not look the them excited the

segment will built continue We've portfolio. leasing of our to MOB a that the pipeline grow

of event. liquidity thank the Thank for today, for on HTI. you and future continued remains your for focus HTI joining positioning eventual an support us and you Our

Operator

The now conference has concluded.

Relations have company's up you be and today's Investor website of you submitted during If that on presentation questions. attending replay your group our www.healthcaretrustinc.com. questions will the at today's a of available webcast Thank follow copy of for to will please webcast, a note Also, the answer this member presentation.

now You disconnect. may

National Healthcare Properties (NHPAP) 2 Jun 232023 Q1 Earnings call transcript