LTC Properties Announces Purchase of Two Texas Skilled Nursing Properties

LTC Properties, Inc. (NYSE:LTC) announced earlier this month that it has entered into a purchase agreement to acquire two skilled nursing properties located in Texas.  The purchase price for the 2 properties, with a total of 292 licensed beds, was $28.5 million and will be funded with LTC’s unsecured line of credit.  LTC plans to lease the properties to Senior Care Centers, LLC as part of the transaction that is expected to close by the end of the month.