Senior Housing News October 29, 2024
LTC Properties (NYSE: LTC) CEO Wendy Simpson said she’s now a “new convert” of the RIDEA lease structure after years of being “anti-RIDEA,” with the real estate investment trust pivoting to conversions heading into 2025.
During a call with investors and analysts covering third-quarter results, Simpson and Co-President and Chief Investment Officer Clint Malin outlined plans for converting between $150 million and $200 million in leases with operators to RIDEA-structured arrangements by the second quarter of 2025.
“We believe the structure will act as a catalyst for growth in 2025,” Malin said during Tuesday’s call, with the company set to convert triple net leases as a gateway for LTC to “manage into RIDEA” due to existing asset management.
LTC’s stock...
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