Significant Portfolio Expansion
Acquired the Southlake portfolio for $16.3 million and the $70.5 million Reunion Nobis portfolio, expanding the net lease health care real estate portfolio with a focus on lower cost patient settings.
Strong Financial Performance
Cash NOI increased by 4.9% to $42.8 million compared to the third quarter of 2024, driven by acquisition activity and same-store cash NOI growth of 1.2%.
Resilient Tenancy and Leasing Activity
Successfully renewed 90% of 2025 lease expirations and executed 3 lease renewals accounting for approximately 1% of portfolio ABR.
Solid Balance Sheet and Liquidity
Total liquidity exceeding $476 million with a net debt-to-EBITDAre ratio of 3.9x, below the targeted range, and a prudent AFFO payout ratio of 71%.