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LTC Announces Acquisition of Land and Development Commitments



  LTC Announces Acquisition of Land and Development Commitments

Business Wire

WESTLAKE VILLAGE, Calif. -- January 7, 2013

LTC Properties, Inc. (NYSE:LTC) (the “Company”) announced today that it had
purchased two parcels of land for a total of $3.1 million and entered into
development commitments totaling $26.2 million.

The Company announced the details of the transactions as follows:

In December 2012, the Company purchased an 11.2 acre vacant parcel of land in
Northern Kentucky (Cincinnati MSA) for $2.1 million. Simultaneous with the
purchase, the Company added the land parcel to an existing master lease with
affiliates of Carespring Health Care Management, LLC and made a development
commitment to fund the construction of a 143-bed skilled nursing facility in
an amount not to exceed $21.4 million. Rent at a rate based on a spread over
treasury yields, but not less than 8.5%, will be calculated based on the land
purchase price and construction costs funded plus 8.5% compounded on the land
purchase price and each amount funded under the commitment. Payment of rent
will begin on the earlier of the issuance of the certificate of occupancy or
the 29^th month following the land acquisition.

Also in December 2012, the Company purchased a 6 acre parcel of land in
Frisco, Texas (Dallas MSA) for $1.0 million and entered into a lease and
development commitment with affiliates of Mustang Creek Estates in an amount
not to exceed $4.8 million for the construction of an 81-unit assisted living
and memory care facility. Rent at the rate of 9.25% will be calculated based
on the land purchase price and construction costs funded plus 9.0% compounded
on the land purchase price and each amount funded under the commitment.
Payment of rent will begin on the earlier of the issuance of the certificate
of occupancy or the 15^th month following the land acquisition. The lease has
a 10-year initial term, two 5-year renewal options and annual escalations of
2.5%.

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

Forward Looking Statements

This press release includes statements that are not purely historical and are
“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, including statements regarding the Company’s
expectations, beliefs, intentions or strategies regarding the future. All
statements other than historical facts contained in this press release are
forward looking statements. These forward looking statements involve a number
of risks and uncertainties. Please see our most recent Annual Report on Form
10-K, our subsequent Quarterly Reports on Form 10-Q, and in our other publicly
available filings with the Securities and Exchange Commission for a discussion
of these and other risks and uncertainties. All forward looking statements
included in this press release are based on information available to the
Company on the date hereof, and the Company assumes no obligation to update
such forward looking statements. 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.

Contact:

LTC Properties, Inc.
Wendy L. Simpson
Pam Kessler
(805) 981-8655
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