Published on July 3, 2012 at 1:33 AM
LTC
Properties, Inc. (NYSE: LTC) ("the Company") announced today that it
acquired a skilled nursing property with 90 licensed beds for $6.5
million. The property is located in Brownwood, Texas and was built in
2011. The acquisition was funded from the Company's unsecured revolving
line of credit. Simultaneous with the purchase, the Company added the
property to an existing master lease with Senior Care Centers at an
initial cash yield of 9.0% and an incremental GAAP yield of 10.7%.
The Company is a self-administered real estate investment trust that
primarily invests in long-term care and other health care related
facilities through facility lease transactions, mortgage loans and other
investments.
Source: LTC
Properties, Inc.