Form: 10-K405

Annual report [Sections 13 and 15(d), S-K Item 405]

March 20, 2002

LIST OF SUBSIDIARIES

Published on March 20, 2002


LTC PROPERTIES, INC.

EXHIBIT 21.1

LIST OF SUBSIDIARIES




Company State of Organization Company State of Organization
- ------- --------------------- ------- ---------------------

Bakersfield-LTC, Inc. Delaware LTC-Fort Valley, Inc. Delaware
BV Holding-LTC, Inc. Delaware LTC-Gardner, Inc. Delaware
Coronado Corporation Delaware LTC-Griffin, Inc. Nevada
Education Property Investors, Inc. Nevada LTC-Jessup, Inc. Delaware
Emerald Gardens-LTC, Inc. Delaware LTC-Jonesboro, Inc. Nevada
Florida-LTC, Inc. Nevada LTC-K1 Inc. Delaware
Illinois-LTC, Inc. Delaware LTC-K2 Limited Partnership Delaware
Kansas-LTC Corporation Delaware LTC-K2 LP, Inc. Delaware
LTC Flower Square, Inc. Arizona LTC-K2, Inc. Delaware
LTC GP I, Inc. Delaware LTC-New Mexico, Inc. Nevada
LTC GP II, Inc. Delaware LTC-Ohio, Inc. Delaware
LTC GP III, Inc. Delaware LTC-Richmond, Inc. Nevada
LTC GP IV, Inc. Delaware LTC-Sumner, Inc. Delaware
LTC GP V, Inc. Delaware LTC-Tampa, Inc. Nevada
LTC GP VI, Inc. Delaware L-Tex GP, Inc. Delaware
LTC Healthcare of Red Hills, Inc. Delaware L-Tex L.P. Corporation Delaware
LTC Partners I, L.P. Delaware Magnolia-LTC, Inc. Delaware
LTC Partners II, L.P. Delaware Missouri River Corporation Delaware
LTC Partners III, L.P. Delaware North Carolina Real
LTC Partners IV, L.P. Delaware Estate Investments, LLC North Carolina
LTC Partners IX, L.P. Delaware Park Villa Corporation Delaware
LTC Partners V, L.P. Delaware Texas-LTC Colonial Manor
LTC Partners VI, L.P. Delaware Limited Partnership Delaware
LTC Partners VII, L.P. Delaware Texas-LTC Limited Partnership Texas
LTC Partners VIII, L.P. Delaware Texas-LTC Woodridge
LTC REMIC Corporation Delaware Limited Partnership Delaware
LTC REMIC IV Corporation Delaware University Park Convalescent Center, Inc. Florida
LTC West, Inc. Nevada Vacaville-LTC, Inc. Delaware
LTC-Dearfield, Inc. Nevada Virginia-LTC, Inc. Nevada
LTC-DS, Inc. Delaware Western Healthcare Funding, Inc. Nevada