WESTLAKE VILLAGE, Calif.–(BUSINESS WIRE)–LTC Properties, Inc. (NYSE: LTC) an actual property funding belief that primarily invests in seniors housing and well being care properties, introduced in the present day that it has originated $46 million in new investments for the reason that starting of the third quarter, 2021.
The financings embody 4 separate investments with the mixed weighted common time period of three.2 years. The investments are anticipated to generate annual curiosity revenue of roughly $3.5 million.
“Our current funding technique has targeted on shorter-term investments and improvement alternatives, which we imagine have a decrease danger profile within the present surroundings. These investments match properly into that technique, whereas increasing relationships with an present companion and regional operators new to us,” mentioned Wendy Simpson, LTC’s Chairman and CEO.
- Unitranche Mortgage – $27 million for the acquisition of a talented nursing middle in Louisiana by a regional operator new to LTC. The time period is three years, with one 12-month extension choice.
- Senior Mortgage – $12.5 million for the acquisition of an assisted dwelling/reminiscence care neighborhood in Florida by a regional operator new to LTC. The time period is roughly 4 years and contains an extra $4.2 million mortgage dedication to be funded at a later date topic to satisfaction of assorted circumstances for the development of a reminiscence care addition to the property.
- Mezzanine Mortgage – $4.4 million for the refinance of an impartial dwelling neighborhood in Oregon with a regional operator new to LTC. The time period is three years, with two 12-month extension choices.
- Land Mortgage – $1.8 million secured by a parcel of land for the longer term improvement of a post-acute expert nursing middle in Missouri, to be operated by an present LTC companion. The time period is one yr.
About LTC Properties
LTC is an actual property funding belief (REIT) investing in seniors housing and well being care properties primarily by way of sale-leasebacks, mortgage financing, joint-ventures and structured finance options together with most popular fairness and mezzanine lending. LTC owns or holds first mortgages on 177 properties in 27 states with 32 working companions. Primarily based on LTC’s gross actual property investments, the portfolio is comprised of roughly 50% seniors housing and 50% expert nursing properties. Study extra at www.LTCreit.com.
Ahead Wanting Statements
This press launch contains statements that aren’t purely historic and are “ahead trying statements” inside the that means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Alternate Act of 1934, as amended, together with statements concerning the Firm’s expectations, beliefs, intentions or methods concerning the longer term. All statements aside from historic details contained on this press launch are ahead trying statements. These ahead trying statements contain various dangers and uncertainties. Please see LTC’s most up-to-date Annual Report on Kind 10-Ok, its subsequent Quarterly Stories on Kind 10-Q, and its different publicly accessible filings with the Securities and Alternate Fee for a dialogue of those and different dangers and uncertainties. All ahead trying statements included on this press launch are based mostly on info accessible to the Firm on the date hereof, and LTC assumes no obligation to replace such ahead trying statements. Though the Firm’s administration believes that the assumptions and expectations mirrored in such ahead trying statements are cheap, no assurance may be provided that such expectations will show to have been appropriate. The precise outcomes achieved by the Firm might differ materially from any forward-looking statements because of the dangers and uncertainties of such statements.