-- Expands SHOP Portfolio; Advances Acquisition Growth Objectives; Increases Organic Growth Profile --

Company Website: http://www.ltcreit.com
WESTLAKE VILLAGE, Calif. -- (Business Wire)

LTC Properties, Inc. (NYSE: LTC) (“LTC” or the “Company”), a real estate investment trust specializing in seniors housing and health care properties, today announced the $52 million acquisition of a community in its seniors housing operating portfolio (“SHOP”), adding to the Company’s recent growth momentum.

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% occupancy; IntegraCare, an existing LTC SHOP operator, will continue to manage the community.
• Transaction includes additional land for the potential development of cottages to expand continuum of care options.
• Year-one cap rate of 6.9%; anticipated unlevered IRR in the low- to mid-teens.

Funding: Proceeds from the Company’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% of the portfolio located in primary markets as designated by NIC.
• Contributing 45% of the Company'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.”

About LTC

LTC is a real estate investment trust (REIT) focused on seniors housing and health care properties, principally investing through SHOP, as well as triple-net leases, and joint ventures. The Company’s portfolio includes nearly 170 properties throughout the United States. Based on gross real estate investments, nearly 80% of the Company’s assets are seniors housing communities with the remainder skilled nursing centers. Learn more at www.ltcreit.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, adopted pursuant to the Private Securities Litigation Reform Act of 1995. Statements that are not purely historical may be forward-looking. You can identify some of the forward-looking statements by their use of forward-looking words, such as “believes,” “expects,” “may,” “will,” “could,” “would,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates” or “anticipates,” or the negative of those words or similar words. Examples of forward-looking statements include statements regarding the expected year-one cap rate and anticipated unlevered internal rate of return on the acquired community, the anticipated benefits of the acquisition, the anticipated timing and completion of additional SHOP acquisitions by year-end, the Company’s ability to achieve or exceed the mid-point of its 2026 investment guidance, the expected contribution of the SHOP segment to the Company’s annualized net operating income, and the Company’s expectations regarding future growth and operations. Forward-looking statements involve inherent risks and uncertainties regarding events, conditions and financial trends that may affect the Company’s future plans of operation, business strategy, results of operations and financial position. A number of important factors could cause actual results to differ materially from those included within or contemplated by such forward-looking statements, including, but not limited to, operational and legal risks and liabilities under the Company’s SHOP segment; the Company’s dependence on the ability of its third-party independent operators to successfully manage and operate the Company’s SHOP communities; the Company’s dependence on its operators for revenue and cash flow; government regulation of the health care industry; changes in federal, state, or local laws limiting REIT investments in the health care sector; federal and state health care cost containment measures including reductions in reimbursement from third-party payors such as Medicare and Medicaid; required regulatory approvals for operation of health care facilities; a failure to comply with applicable law or regulations for the operation of health care facilities; the adequacy of insurance coverage maintained by the Company’s operators; the Company’s reliance on a few major operators; the Company’s ability to find suitable replacement operators for its SHOP communities; the Company’s ability to renew leases or enter into favorable terms of renewals or new leases; the impact of inflation; operator financial or legal difficulties; the sufficiency of collateral securing mortgage loans; an impairment of the Company’s real estate investments; the relative illiquidity of the Company’s real estate investments; the Company’s ability to develop and complete construction projects; the Company’s ability to invest cash proceeds for health care properties; a failure to qualify as a REIT; the Company’s ability to grow if access to capital is limited; and a failure to maintain or increase the Company’s dividend. For a discussion of these and other factors that could cause actual results to differ from those contemplated in the forward-looking statements, please see the discussion under “Risk Factors” contained in the Company’s Annual Report on Form 10‑K for the fiscal year ended December 31, 2025, the Company’s subsequent Quarterly Reports on Form 10‑Q, and the Company’s publicly available filings with the Securities and Exchange Commission. The Company does not undertake any responsibility to update or revise any of these factors or to announce publicly any revisions to forward-looking statements, whether as a result of new information, future events or otherwise. Although the Company’s management believes that the assumptions and expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. The actual results achieved by the Company may differ materially from any forward-looking statements due to the risks and uncertainties of such statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261021324357/en/

Contacts:

For more information contact:
Mandi Hogan
(805) 981-8655

Source: LTC Properties, Inc.