InvestmentsLTC Closes $46 Million in Investments

BusinessWire BusinessWireOctober 12, 20213 min

LTC Properties, Inc. (NYSE: LTC) a real estate investment trust that primarily invests in seniors housing and health care properties, announced today that it has originated $46 million in new investments since the beginning of the third quarter, 2021.

The financings include four separate investments with the combined weighted average term of 3.2 years. The investments are expected to generate annual interest income of approximately $3.5 million.

“Our recent investment strategy has focused on shorter-term investments and development opportunities, which we believe have a lower risk profile in the current environment. These investments fit nicely into that strategy, while expanding relationships with an existing partner and regional operators new to us,” said Wendy Simpson, LTC’s Chairman and CEO.

Deals include:

  • Unitranche Loan – $27 million for the purchase of a skilled nursing center in Louisiana by a regional operator new to LTC. The term is three years, with one 12-month extension option.
  • Senior Loan – $12.5 million for the purchase of an assisted living/memory care community in Florida by a regional operator new to LTC. The term is approximately 4 years and includes an additional $4.2 million loan commitment to be funded at a later date subject to satisfaction of various conditions for the construction of a memory care addition to the property.
  • Mezzanine Loan – $4.4 million for the refinance of an independent living community in Oregon with a regional operator new to LTC. The term is three years, with two 12-month extension options.
  • Land Loan – $1.8 million secured by a parcel of land for the future development of a post-acute skilled nursing center in Missouri, to be operated by an existing LTC partner. The term is one year.

For more such Updates Log on to Follow us on Google News Fintech News



Leave a Reply

Your email address will not be published. Required fields are marked *

We are one of the world’s leading Fintech-based media publication with our content strategized and synthesized to fit right into the expanding ecosystem of Finance professionals. Be it fintech live news, finance press releases, tech articles from Fintech evangelists or interviews from top leaders from global fintech firms, we give the best slice of knowledge topped up with the aptest trends. Our sole mission is to help tech and finance professionals step up with the rapidly emerging Fintech civilization and gain better insights to emerge victorious in every possible way. We adopt a 360-degree approach in order to cater to present a holistic picture of the fintech arena.

Our Publications

FintecBuzz, 2022 © All Rights Reserved