LTC Announces Completion and Opening of Skilled Nursing Property

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)-- LTC Properties, Inc. (NYSE:LTC) announced today the completion and opening of a 120-bed licensed skilled nursing property in Amarillo, Texas. This new property replaces a 90-bed licensed skilled nursing property in the Company’s existing portfolio. The new property is leased to an indirect affiliate of Fundamental pursuant to a master lease containing two properties and a total of 316 beds. The projected annual incremental cash rent from this property is approximately $0.7 million. Management will be attending the grand opening ceremony on Thursday, June 20, 2013.

The Company is a self-administered real estate investment trust that primarily invests in senior housing and long-term care properties through triple-net lease transactions, mortgage loans and other investments. For more information on LTC Properties, Inc., visit the Company’s website at www.LTCProperties.com.

LTC Properties, Inc.
Wendy L. Simpson
Pam Kessler
805-981-8655

Source: LTC Properties, Inc.

Released June 18, 2013