Chiron Completes $217M Rehab Hospital Sale, Retains 15% JV Stake

Chiron Real Estate (NYSE: XRN) is a Bethesda-based healthcare REIT with approximately $502 million in market capitalization and roughly $1.5 billion in gross real estate assets spread across 189 properties in 35 states. The company changed its name from Global Medical REIT in February 2026 following the appointment of Mark Decker, Jr. as CEO in June 2025, a 1-for-5 reverse stock split in September 2025, and a comprehensive strategic pivot away from its legacy net-lease medical office and specialty hospital model toward senior housing operating properties (SHOP).

The financial trajectory since that transition has been active. By Q1 2026, consolidated debt stood at approximately $673 million gross, leverage at 44.7% of total assets, and Net Debt / Adjusted EBITDAre at 6.6x — all within covenant limits but elevated. At the same time the company raised $100 million in Series C convertible preferred equity from Maewyn Capital Partners and affiliates (May-June 2026), borrowed approximately $147 million under its credit facility to close two Alexandria, Virginia senior housing acquisitions totaling $248.9 million, and entered a contract to acquire a third community in North Bethesda for approximately $173 million, expected to close in Q4 2026.

In May 2026 the board cut the common dividend 36% — from $0.25 per share monthly to $0.16 — to retain cash for the growth strategy. Management simultaneously withdrew full-year guidance, citing the pace of portfolio transition.