Brookdale Extends LTC Properties Lease Through Year-End

Brookdale Senior Living (NYSE: BKD) opted to extend its lease with real estate investment trust LTC Properties (NYSE: LTC) through Dec. 31, 2021. Brookdale holds an option to extend the lease through April 30, 2022. Rent terms under the master lease did not change. Westlake, California-based LTC also extended a $4 million capital commitment to […]

Senior Living Owners, Operators Reassess CapEx Priorities for 2021, Beyond

While senior living capital expenditure allocations were gradually increasing before the Covid-19 pandemic, some leaders were concerned that investment in buildings still was insufficient and leading to an impending crisis related to obsolescent properties. Today, issues with buildings pre-pandemic have only been exacerbated by the virus, making CapEx investment more vital, even as such spending […]

LTC to Trim Senior Lifestyle Portfolio Further, Build Relationships With Other Operators

Executives with LTC Properties (NYSE: LTC) are seeking to further reduce the company’s Senior Lifestyle holdings this year, while at the same time building new operator relationships and growing existing ones. The Westlake Village, California-based real estate investment trust (REIT) yesterday disclosed it had transitioned 11 of its 23 assisted living communities leased to Senior […]

LTC Transitions 11 Properties From Senior Lifestyle to Other Operators

LTC Properties (NYSE: LTC) has transitioned 11 assisted living communities leased to Senior Lifestyle to other operators. The Westlake Village, California-based real estate investment trust (REIT) disclosed Thursday in its fourth-quarter earnings release that it had changed the leases on 11 properties in Wisconsin, Ohio, and Illinois, going from Senior Lifestyle to two other operators. […]

LTC Properties Trims Operators’ Rent Escalation by Half in 2021

LTC Properties (NYSE: LTC) is offering a reduction on 2021 rent escalators for its operators, the company announced Thursday. The Westlake Village, California-based health care real estate investment trust (REIT) plans to reduce operators’ 2021 rent escalators by 50% in the form of a one-time rent credit.  LTC expects the escalation reduction will have an […]

Inside LTC Properties’ New, Turnkey Approach to CapEx

Covid-19 is one of the driving factors behind LTC Properties’ (NYSE: LTC) new turnkey approach to capital expenditures, but leaders with the real estate investment trust anticipate that the program will continue well after the pandemic is over and will have lasting benefits. Particularly, they foresee value in terms of future infection control and making […]

LTC Working Through Senior Lifestyle Transitions, Launches Smart Design Initiative

Real estate investment trust LTC Properties (NYSE: LTC) is trying to think and act “outside the REIT box” as Covid-19 continues to pressure its operators, with efforts such as a Smart Design initiative to modernize communities. Meanwhile, the Westlake Village, California-based company continues to work through challenges with some tenants, notably Senior Lifestyle. In the […]

LTC Writes Off $17.7 Million in Senior Lifestyle Rent, Extends Brookdale Lease

Real estate investment trust LTC Properties (NYSE: LTC) collected 92% of rent due in the second quarter of 2020, with most of the shortfall attributed to buildings operated by Senior Lifestyle Corp. Westlake Village, California-based LTC wrote off $17.7 million in straight-line rent receivable and lease incentive balances related to an affiliate of Senior Lifestyle, […]