LTC Properties (NYSE: LTC) has entered into three purchase agreements to acquire four assisted living properties with a total of 241 units for an aggregate purchase price of $26.9 million. The three properties are located in Florida and one is located in Mississippi and the purchase is expected to close by the end of October. LTC will use its unsecured line of credit to purchase the properties and expects to record revenues of $.5 million and $2.9 million for 2010 and 2011 respectively.
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