LTC Announces Agreement to Purchase a Skilled Nursing Property

  LTC Announces Agreement to Purchase a SkilledNursing Property

Business Wire

WESTLAKE VILLAGE, Calif. -- September 11, 2013

LTC Properties, Inc. (NYSE:LTC) announced today that it entered into an
agreement to purchase a 120-bed skilled nursing property in Trinity, FL
(Tampa-St Petersburg-Clearwater MSA) for $14.4million. The property, built in
2008, will be added to a master lease at an incremental initial cash yield of
8.75%. The operator, an affiliate of Traditions Management, currently leases 4
properties with a total of 596 beds/units from LTC. The new master lease will
contain all 5 properties with a total of 716 beds/units and have a GAAP yield
of 10.7%. The initial lease term is 10 years with two 5-year renewal options
and annual rent escalations of 2.2%. The transaction is expected to close on
or about November 1, 2013.

Wendy Simpson, LTC’s Chairman, CEO and President commented, “LTC is pleased to
announce this acquisition, again demonstrating our commitment to expand
relationships with existing customers like Traditions Management, invest in
newer skilled nursing properties and acquire assets in top MSAs.”

LTC is a self-administered real estate investment trust that primarily invests
in senior housing and long-term care properties through triple-net lease
transactions, mortgage loans and other investments. For more information on
LTC Properties, Inc., visit the Company’s website at

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.


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