LTC Properties sells two skilled nursing centers for $42M

LTC Properties (LTC) announced the sale of two skilled nursing centers for total proceedsd of $42M, witht an expected gain on sale of roughly $26M. As previously disclosed, the company expects to receive $120M in proceeds from the sale of seven skilled nursing centers in the first part of the 2025 fourth quarter, 35% of which was completed with today’s announcement. The remaining $78M is expected to close in the next 30 days. Upon completion of the expected sales in 2025, LTC’s seniors housing portfolio will increase to approximately 62% of its gross real estate investments, with SHOP representing approximately 19%. “These transactions demonstrate the continued successful execution of strategically recycling capital to optimize our portfolio for growth,” said Clint Malin, LTC’s Co-CEO. “By selectively divesting non-core, older skilled nursing centers at attractive cap rates, we are unlocking value through asset sales by redeploying capital to support LTC’s long-term external SHOP growth objectives.”