Company Profile

Company Overview

HTI is a $2.6 billion(1) healthcare REIT with a high-quality portfolio focused on two segments, Medical Office Buildings (“MOB”) and Senior Housing Operating Properties (“SHOP”)



Quality Portfolio

üHigh-quality portfolio featuring 198 healthcare properties that are 77% MOB and 23% SHOP(2)
üHigh MOB portfolio Occupancy(3) in Q1’22 of 91.3% plus a forward Leasing Pipeline(3) of 41,300 SF that is expected to increase MOB portfolio Occupancy to 92.2% and Annualized Straight-Line Base Rent(3) by $1.0 million(4)
üSHOP portfolio Occupancy improved, increasing by 1.8% from 74.1% in Q4'21 to 75.9%(5) in Q1’22, as COVID-19-related headwinds have subsided and the operating environment continues to improve
üGeographically diversified across 33 states with select concentrations in states that management believes to have favorable demographic tailwinds

Acquisition Program(6)

üIn 2021, HTI completed $160 million of acquisitions at a 7.7% weighted average Cap Rate(3) which are expected to add $14 million of Annualized Straight-Line Base Rent over a weighted average Lease Term Remaining(3) of approximately eight years(6)

HTI developed a 2022 acquisition pipeline of three properties totaling $18 million at a weighted average Cap Rate of 8.6%
üIn 2021, and as compared to 2020, HTI increased its acquisition volume by $50 million from $110 million to $160 million and improved its weighted average Cap Rate by 0.7% from 7.0% to 7.7%


üMaintained high MOB Occupancy throughout the COVID-19 pandemic above 91% and 100% Cash Rent collection
üYear-over-year, HTI’s exposure to MOB assets increased from 63% to 77%(2) in part due to high-quality MOB acquisitions, which management believes to have more predictable cash flows than SHOP assets, and strategic SHOP dispositions

Experienced Management Team

üYear-over-year, HTI improved Net Leverage(3) by 4% to 37% and increased Liquidity by $177 million to $294 million, ensuring financial flexibility and acquisition capacity
üProven track record with significant public REIT market experience
üDedicated SHOP management team led by John Rimbach and his core team that collectively have over 125 years of SHOP operating experience
(1) Based on total real estate investments, at cost of $2.6 billion, net of gross market lease intangible liabilities of $23.5 million as of March 31, 2022.
(2) Percentages are based on NOI for the three months ended March 31, 2022 and for the three months ended March 31, 2021. See here for Non-GAAP reconciliations.
(3) See Definitions in the Appendix for a full description.
(4) Assuming no expirations or terminations and that non-binding letters of intent will lead to definitive leases that will commence on their contemplated terms, which is not assured. Leases and potential leases in the forward Leasing Pipeline commence at various times throughout 2022. The forward Leasing Pipeline should not be considered an indication of future performance.
(5) For the SHOP portfolio, weighted by unit count as of March 31, 2022. As of March 31, 2022, HTI had 4,378 rentable units in our SHOP segment.
(6) Refer to slide 6 for additional information.