LTC Completes Divestiture of Preferred Care Portfolio Ahead of Schedule
LTC Properties, Inc. (LTC)
Last ltc properties, inc. earnings: 2/20 04:30 pm
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US:NYSE Investor Relations:
ltcreit.com
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Source: Business Wire
-- Portfolio Sale Totals $78 Million -- WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--LTC Properties Inc. (NYSE: LTC), a real estate investment trust investing in seniors housing and health care properties, today announced the completion of the sale of its Preferred Care, Inc. portfolio. LTC previously communicated that it anticipated concluding the sale during the second quarter of 2020 but finalized the transactions ahead of schedule.The combined net proceeds for the portfolio, including one property sold in 2019 and 21 properties sold in the first quarter of 2020, was $77.9 million, resulting in a total estimated gain on sale of $44.0 million. The portfolio had a combined net book value of $35.6 million.The 21 properties sold in the first quarter of 2020, which included more than 2,500 beds across Arizona, Colorado, Iowa, Kansas and Texas, were sold through multiple transactions and generated net proceeds of $71.9 million. These 21 properties had a combined net book value of $29.1
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LTC
Earnings
- 4/29/24 - Beat
LTC
Sec Filings
- 4/29/24 - Form 10-Q
- 4/29/24 - Form 8-K
- 4/23/24 - Form S-8
- LTC's page on the SEC website