LTC Sells Three Wisconsin Properties for $35 Million


LTC Sells Three Wisconsin Properties for $35 Million | San Fernando Valley Enterprise Journal

Actual property funding belief LTC Properties, which makes a speciality of well being care property and senior housing investments, has introduced a $35 million sale of three assisted residing properties in Wisconsin.

Collectively, the properties comprise 263 assisted residing items. The sale represents a achieve of about $5.6 million for Westlake Village-based LTC.

The web proceeds have been used to pay down an unsecured revolving line of credit score.

“Transitioning the senior life-style portfolio has been a key focus for LTC, and the sale of those communities brings us nearer to that purpose,” Chief Government Wendy Simpson mentioned in assertion. “We stay per our acknowledged long-term technique of diversifying our portfolio by strategically promoting property, and the disposition of those properties demonstrates our skill to try this efficiently.”

Shares of LTC Properties (LTC) rose by 1 p.c Monday to shut at $39.35 on the Nasdaq.

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