LTC Properties Inc. Enters $10 Million Joint Venture with Affinity Living Group
January 31, 2018 at 06:00 am EST
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LTC Properties Inc. announced it entered into a real estate joint-venture relationship with an affiliate of Affinity Living Group to acquire The Inverness at Spartanburg, an 87-unit assisted living and memory care community in South Carolina for $10 million. The community will be operated by an affiliate of Affinity Living Group under a triple-net lease. Affinity, which operates 92 assisted living, memory care and independent living facilities in eight states predominately
in the Southeast, is a new operating partner for LTC.
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. 
