LTC Properties Buys Pa. Community for $52 Million

Healthcare REIT LTC Properties, Inc. (NYSE: LTC) announced the $52 million acquisition of a community in its seniors housing operating portfolio (SHOP), pushing it close to its yearly SHOP acquisition goal of $900 million.

Acquisition Highlights

• $52 million off-market acquisition; 130-unit independent living, assisted living, and memory care community in Pennsylvania, built in 2023 with low- to mid-90 percent occupancy; IntegraCare, an existing LTC SHOP operator, will continue to manage the community.

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• Transaction includes additional land for the potential development of cottages to expand continuum of care options.

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• Year-one cap rate of 6.9 percent; anticipated unlevered IRR in the low- to mid-teens.

Funding

Proceeds from LTC’s revolving line of credit and ATM sales. During the 2026 third quarter and fourth quarter-to-date, LTC sold 2,286,106 shares of common stock for $97 million in net proceeds under its equity distribution agreement.

SHOP Highlights

• - 49 communities with an average age of nine years; managed by 13 operators, including 11 new relationships.

• - 61 percent of the portfolio located in primary markets as designated by NIC.

• - Contributing 45 percent of LTC’s pro forma annualized net operating income (NOI).

• - Year-to-date, LTC has completed more than $880 million in SHOP acquisitions, approaching its $900 million mid-point 2026 investment guidance.

“This acquisition continues our SHOP expansion as we near our 2026 investment target and look ahead to next year,” said Dave Boitano, LTC’s chief investment officer. “Our long-standing industry relationships give us a distinct advantage in sourcing compelling off-market opportunities with repeat sellers and trusted operators. As we position LTC to capitalize on a robust pipeline of opportunities, we look to continue our acquisition momentum in 2027.”

Comments or questions? Contact Patrick Connole at pconnole@parkplacelive.com.