CNL Healthcare Properties, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing total revenues of $92,797,000, which increased from $86,213,000 in the same quarter the previous year. The increase is attributed to higher average occupancy and rate increases at the company's properties.
Operating expenses for the quarter were $84,656,000, compared to $81,238,000 in the same quarter of the previous year. This increase is primarily due to higher occupancy levels.
The company reported a net loss of $3,155,000 for the quarter, compared to a net loss of $5,399,000 in the previous year, with the improvement attributed to increased revenues.
Cash provided by operating activities was $30,965,000 for the nine months ended September 30, 2024, up from $24,616,000 in the same period the previous year.
CNL Healthcare Properties had a total of $1,335,306,000 in assets as of September 30, 2024, with liabilities of $614,714,000 and total equity of $720,592,000.
The filing also details various financial agreements, including a revolving credit facility and interest rate caps to hedge against variable rate exposure.
The company continues to focus on its seniors housing portfolio, consisting of 69 communities and one vacant land parcel, and is exploring strategic alternatives to provide liquidity to stockholders.
CNL Healthcare Properties does not anticipate significant changes in its operational strategy and remains committed to maintaining its REIT status for federal income tax purposes.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the CNL Healthcare Properties Inc quarterly 10-Q report dated November 8, 2024. To report an error, please email earnings@qz.com.