LTC Announces Closing of Public Offering of 3,990,000 Shares of Common Stock

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)-- LTC Properties, Inc. (the "Company") (NYSE:LTC) announced today that it has closed its previously-announced public offering of 3,500,000 shares of its common stock at a price of $27.25 per share. In addition, the Company has sold 490,000 shares of its common stock at a price of $27.25 per share pursuant to the underwriters' option to purchase additional shares, resulting in a total public offering of 3,990,000 shares for gross proceeds of approximately $108.7 million.

KeyBanc Capital Markets, Wells Fargo Securities, RBC Capital Markets and BMO Capital Markets acted as joint book-running managers for the Offering. CSCA, J.J.B. Hilliard, W.L. Lyons, LLC and JMP Securities acted as co-managers for the Offering.

The Company is a self-administered real estate investment trust that primarily invests in long-term care and other health care related facilities through mortgage loans, facility lease transactions and other investments. For more information on LTC Properties, Inc., visit the Company's website at www.LTCProperties.com.

    Source: LTC Properties, Inc.

Released March 28, 2011