Senior Housing News July 30, 2024
LTC Properties (NYSE: LTC) has in 2024 been relatively optimistic about the path ahead, especially with regard to improvement among its operating partners and the prospect of new investments. But the company encountered a bump on that road in the second quarter of 2024.
Management with the Westlake Village, California-based real estate investment trust (REIT) on Tuesday noted that the company had deferred $1.5 million in rent in May and June for a portfolio of 11 assisted living communities managed by ALG Senior in North Carolina. LTC also agreed to defer approximately $250,000 in rent per month through December, up to a total of $1.5 million.
The REIT also waived rent due for one community in May through September, with...
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