LTC Announces Acquisition of a Skilled Nursing Property

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)-- LTC Properties, Inc. (NYSE: LTC) (“the Company”) announced today that it acquired a skilled nursing property with 90 licensed beds for $6.5 million. The property is located in Brownwood, Texas and was built in 2011. The acquisition was funded from the Company’s unsecured revolving line of credit. Simultaneous with the purchase, the Company added the property to an existing master lease with Senior Care Centers at an initial cash yield of 9.0% and an incremental GAAP yield of 10.7%.

The Company is a self-administered real estate investment trust that primarily invests in long-term care and other health care related facilities through facility 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 July 2, 2012