LTC Originates $12.7 Million Loan for Purchase of Skilled Nursing/Assisted Living Campus
LTC Properties, Inc. (LTC)
Last ltc properties, inc. earnings: 2/20 04:30 pm
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Source: Business Wire
-- Senior Loan to Assist Ignite Medical Resorts in Purchase of Houston Metro-area Property -- WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--LTC Properties Inc. (NYSE: LTC) (“LTC” or the “Company”), a real estate investment trust that primarily invests in seniors housing and health care properties, today announced that it has originated a $12.7 million senior loan to Ignite Medical Resorts (“Ignite”), a current LTC operator, for the purchase of a skilled nursing and assisted living campus in Katy, Texas. The investment will be accounted for as an unconsolidated joint venture.The five-year loan is interest only at a current rate of 9.15% and includes a CapEx investment of approximately $800,000 for campus improvements. LTC expects this investment to generate approximately $884,000 of revenue in 2024.The campus was built in 2017, and includes 78 units (48 skilled nursing and 30 assisted living) and 104 licensed beds (70 skilled nursing and 34 assisted living).“We are very pleased to assi
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News
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- LTC Announces Date of First Quarter 2024 Earnings Release, Conference Call and WebcastBusiness Wire
- LTC originates $12.7M loan for purchase of skilled nursing/assisted living campus [Seeking Alpha]Seeking Alpha
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