Form: 10-K

Annual report [Section 13 and 15(d), not S-K Item 405]

February 25, 2009


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EXHIBIT 21


LTC PROPERTIES, INC.

LIST OF SUBSIDIARIES

As of December 31, 2008

Company
  State of Organization

Albuquerque Real Estate Investments, Inc. 

  Delaware

Bakersfield-LTC, Inc. 

  Delaware

Beaumont Real Estate Investments, LP

  Texas

BV Holding-LTC, Inc. 

  Delaware

Coronado Corporation

  Delaware

East New Mexico, Inc. 

  Delaware

Education Property Investors, Inc. 

  Nevada

Florida-LTC, Inc. 

  Nevada

Kansas-LTC Corporation

  Delaware

LTC GP I, Inc. 

  Delaware

LTC GP VI, Inc. 

  Delaware

LTC Partners IX, L.P. 

  Delaware

LTC West, Inc. 

  Nevada

LTC-Bedford, Inc. 

  Delaware

LTC-Dearfield, Inc. 

  Nevada

LTC-DS, Inc. 

  Delaware

LTC-Gardner, Inc. 

  Delaware

LTC-Griffin, Inc. 

  Nevada

LTC-Jonesboro, Inc. 

  Nevada

LTC-K1 Inc. 

  Delaware

LTC-K2 Limited Partnership

  Delaware

LTC-K2 LP, Inc. 

  Delaware

LTC-K2, Inc. 

  Delaware

LTC-Lake Forest, Inc. 

  Delaware

LTC-New Mexico, Inc. 

  Nevada

LTC-Ohio, Inc. 

  Delaware

LTC-Richmond, Inc. 

  Nevada

L-Tex GP, Inc. 

  Delaware

L-Tex L.P. Corporation

  Delaware

Missouri River Corporation

  Delaware

New Mexico Real Estate Investments, Inc. 

  Delaware

North Carolina Real Estate Investments, LLC

  North Carolina

Park Villa Corporation

  Delaware

Skilled Healthcare Holdings, Inc. 

  Delaware

Texas-LTC Limited Partnership

  Texas

Texas-LTC Woodridge Limited Partnership

  Delaware

Vacaville-LTC, Inc. 

  Delaware




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LTC PROPERTIES, INC. LIST OF SUBSIDIARIES As of December 31, 2008