Chiron Real Estate Inc. (NYSE: XRN-PB)

Chiron Real Estate Inc is an internally managed real estate investment trust that acquires and owns healthcare facilities leased to physician groups and regional or national healthcare systems. The company focuses on medical office buildings inpatient rehabilitation facilities surgical hospitals and other specialized outpatient properties located in secondary markets and suburbs.

The company generates revenue primarily from rental income collected under triple net leases and modified gross leases on its healthcare properties. As of December 31 2025 the portfolio produced approximately $118.8 million of annualized base rent from 189 buildings totaling about 5.1 million leasable square feet. In addition the company earns fees for serving as the managing member of an unconsolidated joint venture with Heitman that owns two healthcare assets.

Chiron Real Estate Inc operates within the healthcare real estate sector competing with other REITs private equity firms and healthcare operators that also acquire medical office buildings and specialty facilities. Its competitive advantage stems from an internal management structure a focus on off campus properties in secondary markets and a lease portfolio dominated by triple net agreements with creditworthy tenants.

The company's tenants consist primarily of physician groups regional hospital systems and national healthcare companies that lease the facilities for outpatient inpatient and diagnostic services. As of the same date three tenants each accounted for at least five percent of annualized base rent namely LifePoint Health Encompass Health Corporation and Memorial Health System.