LTC Properties, Inc. (NYSE:LTC) announced today that it acquired a skilled nursing property with 156 licensed beds in Colton, CA (Riverside-San Bernardino-Ontario MSA), for a purchase price of $17,500,000. The property was built in 1990 and primarily operates a sub-acute program with a revenue source predominantly consisting of managed care contracts and specialty government reimbursement. Simultaneous with the purchase, the Company leased the property to an unrelated third-party operator pursuant to a 12-year lease agreement at an initial cash yield of 9.25% and a GAAP yield of 10.34%. The lease contains annual escalations of 2.0% and has two 10-year renewal options.

The Company is a self-administered real estate investment trust that primarily invests in long-term care and other health care related facilities through mortgage loans, facility lease transactions and other investments. For more information on LTC Properties, Inc., visit the Company’s website at www.ltcproperties.com.

LTC Properties (NYSE:LTC)
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