Senior housing and care REIT LTC Properties, Inc. (NYSE:LTC) announced on Monday that it had acquired a skilled nursing facility located in Brownwood, Tex. for $6.5 million.
The facility has 90 licensed beds and has been added to an existing master lease with Senior Care Centers at an initial cash yield of 9.0% and an incremental GAAP of 10.7%.
The REIT funded the acquisition through its unsecured revolving line of credit.
Written by Alyssa Gerace