LTC to Purchase Four Assisted Living Properties

Westlake Village based LTC Properties announced it will acquire four assisted living properties with a total of 241 units, for an aggregate purchase price of $26.9 million. The properties are located in Florida and Mississippi. The transactions are scheduled to close on or about October 29. The company will lease the properties under a 10-year triple net master lease. These acquisitions will be financed by the use of funds from the company’s unsecured line of credit. The projected revenues provided from the acquisition of these properties for calendar year 2010 and 2011 are $0.5 million and $2.9 million, respectively.