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Northstar Healthcare Income Inc (NHHS0.00%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's financial performance, including a net income of $97.6 million for the year, a significant improvement from the net loss of $160.2 million reported in the previous year.
Total property and other revenues for the year were $206.7 million, a slight increase from $205.0 million in 2023. This included $150.1 million in rental income and $49.8 million in resident fee income.
Operating expenses totaled $137.8 million, down from $140.6 million in the previous year, reflecting a decrease in property operating expenses.
The company reported a gain of $129.8 million from investments and other activities, primarily driven by the sale of its investment in Trilogy, which generated net proceeds of $254.0 million.
Northstar Healthcare's total assets as of December 31, 2024, were $1.13 billion, with $694.3 million in net operating real estate.
The company completed several key transactions, including the sale of its interest in Trilogy and the disposition of non-core assets, resulting in net proceeds of approximately $23.3 million.
The company has $328.5 million in unrestricted cash as of March 12, 2025, and has extended the maturity date of the Winterfell portfolio mortgage loans to June 2026.
Northstar Healthcare continues to focus on maximizing value and generating liquidity for stockholders, with the pending merger with Welltower Inc. expected to close in the second quarter of 2025.
The filing also notes that the company does not anticipate paying recurring distributions in the near future but will evaluate special distributions in connection with asset sales.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Northstar Healthcare Income Inc annual 10-K report dated March 14, 2025. To report an error, please email earnings@qz.com.