Senior Housing News April 30, 2024
The coming year should yield more opportunities for LTC Properties (NYSE: LTC) to invest in and acquire senior living communities.
The Westlake Village, California-based real estate investment trust (REIT) had an active year in 2023 by completing about $262 million in investments and selling $77 million worth of assets.
Included in that total was a portfolio of 10 “non-revenue generating” assisted living communities temporarily assigned to ALG Senior in 2022. The REIT in the first quarter of 2024 sold seven of the properties and transitioned three others to new operating partners.
The company also in the quarter sold a 60-unit assisted living community in Florida for $4.5 million and offloaded its joint-venture interest in a 110-unit assisted living community in...
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