LTC Properties announces two SHOP acquisitions for $63M

LTC Properties (LTC) announced two Senior Housing Operating Portfolio acquisitions in Tennessee and Wisconsin. These acquisitions complete LTC’s $460M investment guidance, including $360M in SHOP acquisitions. LTC expects to close an additional $110M of SHOP acquisitions in January 2026, extending its momentum into the new year and reinforcing the Company’s external growth initiatives through SHOP. Acquisition Highlights: Tennessee: $31.6M for a 100-unit assisted living and memory care community stabilized at 97% occupancy; built in 2022; managed by an existing LTC operator. Wisconsin: $31.3M for a 122-unit assisted living and memory care community stabilized at 98% occupancy; built and expanded between 2012 and 2019; managed by an existing LTC operator. Year-One Yield: 7.5%. SHOP Portfolio Composition: At December 19, 2025, LTC’s SHOP investments made up approximately 24% of its real estate portfolio value, and included 26 properties across seven operators, five of which are new to LTC. The acquisitions were funded through a combination of: LTC’s revolving credit line. Proceeds from ATM sales. Proceeds from previously announced property sales. A $16M loan payoff with a current yield of 7.75%. A preferred equity redemption of $6.4 million with a current yield of 9% and an IRR of 12%.