Healthcare Trust, Inc. (NASDAQ:HTIA) ("HTI") announced today that it has entered into a definitive agreement with Healthcare Trust Advisors, LLC (the "Advisor"), the external advisor to HTI, and AR Global Investments, LLC, the indirect parent company of Advisor and Healthcare Trust Properties, LLC (the "Property Manager"), the external property manager to HTI, to transition to self-management and internalize management functions currently performed by the Advisor and Property Manager (the "Internalization"). The Company expects the Internalization to close on or about September 27, 2024, subject to satisfaction of certain customary conditions to closing.
"The HTI management team is very excited about transitioning HTI to an internally managed company. We believe an internally managed structure best positions the Company to execute its strategy and maximize value for its stockholders," said Michael Anderson, Chief Executive Officer of HTI. "This transaction is yet another exciting milestone for the Company and we believe it is a critical step towards growing shareholder value and achieving a public listing for HTI's common stock."
There can be no assurance that the Internalization will close within the anticipated time frame or at all, or that the HTI will be able to list its shares of common stock on a national securities exchange.
Important Notice
The statements in this press release that are not historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the timing of the closing of, and HTI's ability to consummate, the Internalization. These forward-looking statements involve risks and uncertainties that could cause actual results or events to be materially different. The words "anticipates," "believes," "expects," "estimates," "projects," "plans," "intends," "may," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to a number of risks, uncertainties and other factors, many of which are outside of HTI's control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include the potential adverse effects of (i) a resurgence of the global COVID-19 pandemic, including actions taken to contain or treat COVID-19, (ii) the geopolitical instability due to the ongoing military conflict between Russia and Ukraine and Israel and Hamas, including related sanctions and other penalties imposed by the U.S. and European Union, and the related impact on HTI, HTI's tenants, HTI's operators and the global economy and financial markets, and (iii) inflationary conditions and higher interest rate environments, as well as those risks and uncertainties set forth in the Risk Factors section of HTI's Annual Report on Form 10-K for the year ended December 31, 2023 filed on March 15, 2024, as amended by the Form 10-K/A filed on March 22, 2024, and all other filings with the Securities and Exchange Commission after that date, as such risks, uncertainties and other important factors may be updated from time to time in HTI's subsequent filings with the Securities and Exchange Commission. Further, forward-looking statements speak only as of the date they are made, and HTI undertakes no obligation to update or revise any forward-looking statement to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required to do so by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240807441237/en/