LTC Makes Investment of $33 Million in Acquisitions
January 24, 2020 at 05:26 am EST
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LTC Properties has acquired two Michigan seniors housing communities and one Texas skilled nursing center. The Michigan communities will be operated by Randall Residence, and the Texas center will be operated by HMG Healthcare. Both regional operators are new to LTC. Acquired two properties, located in Auburn Hills and Sterling Heights, for $19 million, with an additional capital improvement investment of approximately $2 million in the first year of the lease. 156 total assisted living and memory care units. Acquired one property, located in Longview, for $13.5 million; Skilled nursing center with 140 licensed beds.
LTC Properties, Inc. is a real estate investment trust (REIT). The Company invests in seniors housing and health care properties through sale-leasebacks, mortgage financing, joint ventures, construction financing and structured finance solutions including preferred equity, and mezzanine lending. It invests in various properties, including skilled nursing centers (SNF), which provides restorative, rehabilitative and nursing care; Assisted living facilities (ALF), which serves people who require assistance with activities of daily living; Independent living facilities (ILF), also known as retirement communities or senior apartments, offers a community and numerous levels of service, such as laundry, housekeeping, dining options/meal plans, exercise and wellness programs, transportation, social, cultural and recreational activities, on-site security, and others, and Memory care facilities (MC), offers specialized options for people with Alzheimerâs disease and other forms of dementia.
LTC PROPERTIES, INC. 
