LTC Adds $30 million to Credit Line

Real estate investment trust LTC Properties Inc. has secured a $30 million increase in its line of credit from Bank of America, giving the company a total credit line of $110 million. The Westlake Village-based firm has only $23.5 million in outstanding debt from its credit line. LTC invests in long-term care and other health care related facilities through mortgage loans, facility-lease transactions and other investments. Bank of America, N.A. becomes an additional lender under the company’s unsecured credit agreement, which includes Bank of Montreal, Chicago Branch, BMO Capital Markets, Key Bank National Association, Raymond James Bank, FSB and Royal Bank of Canada as additional lenders. Thom Senzee