LTC Enhances Capital Structure by Increasing Commitments Under Its Credit Facility to $800 Million With $200 Million of Term Loans

Download as PDF

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)-- LTC Properties, Inc. (NYSE:LTC) (“LTC” or the “Company”), a real estate investment trust that primarily invests in seniors housing and health care properties, announced today that it has increased commitments under its credit facility to $800 million, with $200 million aggregate in term loans.

Credit Facility

LTC entered into an amendment to its July 21, 2025 Credit Agreement (the “Agreement”) to increase the aggregate commitment of its lenders by $200 million to a total of $800 million, through the exercise of the Agreement’s accordion feature.

Term Loans

LTC established term loans totaling $200 million, and entered into interest rate swap agreements to effectively fix the interest rates on the loans as follows:

  • $50 million three-year loan maturing in 2028 at an effective interest rate of 4.61% per year.
  • $55 million four-year loan maturing in 2029 at an effective interest rate of 4.65% per year.
  • $55 million five-year loan maturing in 2030 at an effective interest rate of 4.70% per year.
  • $40 million seven-year loan maturing in 2032 at an effective interest rate of 5.22% per year.

The material terms of the Agreement otherwise remain unchanged.

“Strengthening our capital structure provides LTC with an enhanced ability to successfully execute on our external growth initiatives,” said Cece Chikhale, LTC’s Chief Financial Officer. “We made tremendous progress elevating our SHOP portfolio in 2025, and we are focused on driving even more growth throughout 2026.”

LTC provided additional information about these transactions, including the network of bank participants, in Form 8-K as filed with the Securities and Exchange Commission on December 15, 2025.

About LTC

LTC is a real estate investment trust (REIT) focused on seniors housing and health care properties, investing through SHOP, triple-net leases, joint ventures, and structured finance solutions. The Company’s portfolio includes nearly 190 properties throughout the United States. Based on gross real estate investments, approximately 62% of the Company’s assets are seniors housing communities with the remainder skilled nursing centers. Learn more at www.ltcreit.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, adopted pursuant to the Private Securities Litigation Reform Act of 1995. Statements that are not purely historical may be forward-looking. You can identify some of the forward-looking statements by their use of forward-looking words, such as “believes,” “expects,” “may,” “will,” “could,” “would,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates” or “anticipates,” or the negative of those words or similar words. Examples of forward-looking statements include the Company’s investment pipeline, including SHOP acquisitions and growth, sources of funding, and future strategy. Forward-looking statements involve inherent risks and uncertainties regarding events, conditions and financial trends that may affect the Company’s future plans of operation, business strategy, results of operations and financial position. A number of important factors could cause actual results to differ materially from those included within or contemplated by such forward-looking statements, including, but not limited to, the Company’s dependence on its operators for revenue and cash flow; operational and legal risks and liabilities under the Company’s new SHOP segment; government regulation of the health care industry; changes in federal, state, or local laws limiting REIT investments in the health care sector; federal and state health care cost containment measures including reductions in reimbursement from third-party payors such as Medicare and Medicaid; required regulatory approvals for operation of health care facilities; a failure to comply with federal, state, or local regulations for the operation of health care facilities; the adequacy of insurance coverage maintained by the Company’s operators; the Company’s reliance on a few major operators; the Company’s ability to renew leases or enter into favorable terms of renewals or new leases; the impact of inflation, operator financial or legal difficulties; the sufficiency of collateral securing mortgage loans; an impairment of the Company’s real estate investments; the relative illiquidity of the Company’s real estate investments; the Company’s ability to develop and complete construction projects; the Company’s ability to invest cash proceeds for health care properties; a failure to qualify as a REIT; the Company’s ability to grow if access to capital is limited; and a failure to maintain or increase the Company’s dividend. For a discussion of these and other factors that could cause actual results to differ from those contemplated in the forward-looking statements, please see the discussion under “Risk Factors” contained in the Company’s Annual Report on Form 10‑K for the fiscal year ended December 31, 2024, the Company’s subsequent Quarterly Reports on Form 10‑Q, and the Company’s publicly available filings with the Securities and Exchange Commission. The Company does not undertake any responsibility to update or revise any of these factors or to announce publicly any revisions to forward-looking statements, whether as a result of new information, future events or otherwise. Although the Company’s management believes that the assumptions and expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. The actual results achieved by the Company may differ materially from any forward-looking statements due to the risks and uncertainties of such statements.

Mandi Hogan
(805) 981-8655

Source: LTC Properties, Inc.

Released December 15, 2025