LTC Acquires Newly Constructed Skilled Nursing Center in Texas

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--

LTC Properties, Inc. LTC, a real estate investment trust that primarily invests in seniors housing and health care properties, announced today that it has acquired a skilled nursing center in the Dallas-Fort Worth metropolitan area for $16.0 million.

The newly constructed property, which opened in mid-2015, comprises 126 licensed beds, and has been added to an existing master lease with an affiliate of Fundamental Administrative Services, LLC ("Fundamental") at an incremental initial cash yield of 8.5%. Rent will escalate annually by 2.5%.

"After a highly successful 2015, the acquisition of this skilled nursing center continues our forward momentum. We are delighted to expand our close relationship with Fundamental, who provided us with the opportunity to make our first stand-alone behavioral health care investment, late last year," said Wendy Simpson, LTC's Chairman and Chief Executive Officer. "LTC's attractive cost of capital and balance sheet strength position us to continue capitalizing on strategic opportunities as they arise."

About LTC Properties

LTC is a self-administered real estate investment trust that primarily invests in seniors housing and health 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 www.LTCreit.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, include, but are not limited to, LTC being able to continue capitalizing on strategic opportunities as a result of its attractive cost of capital and balance sheet strength. Please see the most recent Annual Report on Form 10-K, the subsequent Quarterly Reports on Form 10-Q, and 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.

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