American Healthcare REIT, Inc.

The company’s customers are primarily healthcare operators rather than end consumers, because its revenue comes from tenants, managers, borrowers, and operating partners tied to its real estate assets. Senior housing and skilled nursing operators are especially important because they run facilities that depend on resident occupancy, reimbursement dynamics, and labor availability. Outpatient medical tenants include physician groups, health systems, and other clinical users that need well-located medical space close to patient demand. In its RIDEA-operated assets, the company is more directly exposed to the economics of senior housing operations, making operator quality and local market conditions central to performance.

The company’s strategy is to own and operate healthcare real estate that produces current income while maintaining flexibility to selectively develop, acquire, or finance assets when opportunities are attractive. A key priority is managing a diversified mix of operating and leased healthcare properties so it can balance contractual rent streams with higher-upside operating exposure. The company also emphasizes disciplined capital allocation through secured loans and opportunistic real estate-related investments, which broadens deployment options beyond direct property ownership. Maintaining REIT qualification, access to capital, and strong operator relationships is central to preserving its ability to grow and distribute cash.