- Four new independent directors appointed in 2026 -

NEW YORK, Nov. 09, 2026 (GLOBE NEWSWIRE) -- National Healthcare Properties, Inc. (Nasdaq: NHP) (the “Company”) announced today that the Board of Directors (the “Board”) has elected Jeff Olson and Craig Smith as independent directors, effective November 9, 2026.

Mr. Olson is a seasoned public REIT executive who has served as Chief Executive Officer of two public retail REITs over the past 20 years. He is Chairman and Chief Executive Officer of Urban Edge Properties (NYSE: UE), which he led through its 2015 spin-off from Vornado Realty Trust. Previously, he served as Chief Executive Officer of Equity One, Inc. and as President of the Eastern and Western Regions of Kimco Realty Corporation.

Mr. Olson serves on the Boards of the International Council of Shopping Centers and the National Association of Real Estate Investment Trusts, and he is also Chair of the Real Estate Advisory Board at the Carey Business School at The Johns Hopkins University. He holds a Bachelor of Science in Accounting from the University of Maryland, a Master of Science in Real Estate from The Johns Hopkins University and is a former Certified Public Accountant. Mr. Olson is expected to join the Company's Compensation and Corporate Governance Committee upon the effectiveness of his appointment.

Mr. Smith is a distinguished hospitality executive with more than 35 years of leadership experience spanning global operations, enterprise restructuring, and technology transformation. He has served as Chief Executive Officer of Aimbridge Hospitality, one of the largest third-party hotel management companies in the world, since 2024. His responsibilities include enterprise strategy, operations, capital deployment and risk management across a global portfolio of more than 1,000 properties in over 20 countries. Previously, Mr. Smith held a series of senior leadership roles at Marriott International, including Group President and Managing Director of the International Division, Group President of Asia Pacific and President of the Caribbean and Latin America.

He currently serves on the Board of Directors of Aimbridge Hospitality and previously served as chairman of the US-ASEAN Business Council, as a Board Member of the US-India Strategic Partnership Forum and as a member of Marriott International’s Casino Board. He holds director certifications from the National Association of Corporate Directors and Harvard Business School, among others. Mr. Smith completed the Advanced Management Program at Harvard Business School and also holds a Global Executive MBA from the University of St. Gallen, an MBA from the Rotman School of Management at the University of Toronto and a Bachelor of Science from Brigham Young University. Mr. Smith is expected to join the Company's Audit Committee upon the effectiveness of his appointment.

Michael Anderson, Chief Executive Officer and President, commented, “We are pleased to continue to enhance our Board with the addition of both a highly respected figure in the REIT industry and a seasoned leader in global hospitality. Jeff brings valuable experience and perspective as it relates to portfolio repositioning and capital allocation, as well as strong relationships within the REIT investment and banking communities, while Craig’s extensive experience leading a global lodging business, overseeing large-scale operations and transforming organizations will add a new dimension to our efforts to drive operational excellence and performance across our senior housing portfolio.

We believe Jeff’s and Craig’s perspectives will strengthen the Board’s oversight and support our efforts to create sustainable value for shareholders.”

Ferguson Partners, a firm specializing in board and executive recruitment in the REIT industry, advised the Company on the search process.

About National Healthcare Properties

National Healthcare Properties, Inc. (Nasdaq: NHP) is a self-managed real estate investment trust focused on providing needs-based senior housing to serve a growing elderly population in the United States. Additional information about NHP can be found on its website at nhpreit.com.

Investor & Media Contact

Email: ir@nhpreit.com

Cautionary Statement Regarding Forward-Looking Statements

This press release may contain “forward-looking” statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the use of terminology such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “seek,” “will,” “may,” “should,” “predict,” “project,” “potential,” “continue” or the negatives of these terms or variations of them or similar expressions. Risks and uncertainties, the occurrence of which could adversely affect the Company’s business and cause actual results to differ materially from those expressed or implied in the forward-looking statements, include, but are not limited to, the following: changes in economic cycles generally and in the real estate and healthcare markets specifically; the success of the Company’s growth strategy, including its ability to successfully identify, complete and integrate new acquisitions; the Company’s ability to complete acquisitions or dispositions on the terms and timing the Company expects, or at all; changes to inflation and interest rates; competition in the real estate and healthcare markets; the Company’s ability to retain certain key personnel; legislative and regulatory changes in the healthcare and real estate industries; reductions or changes in reimbursement from third-party payors, including Medicare and Medicaid; discovery of previously undetected environmentally hazardous conditions; the Company’s ability to pay down, refinance, restructure or extend its indebtedness as it becomes due; system failures, cyber incidents or deficiencies in the Company’s cybersecurity systems; the availability of capital on favorable terms, or at all; the Company’s ability to remain qualified as a real estate investment trust for U.S. federal income tax purposes; and other risks and uncertainties described in the section titled Risk Factors of the Company’s most recent Annual Report on Form 10-K and all other filings with the Securities and Exchange Commission. Finally, the Company assumes no obligation to update or revise any forward-looking statements or to update the reasons why actual results could differ from those projected in any forward-looking statements.