LTC Properties (NYSE: LTC) management expects the company’s operating partners will make progress on occupancy and expenses in 2023, but the rate of recovery in the year ahead remains uncertain. Part of the reason why is that occupancy increases coming out of the pandemic “have not been linear,” LTC Properties Chairman and CEO Wendy Simpson […]
LTC Properties
LTC Properties (NYSE: LTC) is investing $128 million in 12 assisted living communities as part of a joint venture with one of its current operating partners. Of the $128 million, the Westlake, California-based is putting $117 million toward acquiring a 97% stake in a joint venture with the operator for the purchase of 11 properties. […]
LTC Properties (NYSE: LTC) is currently engaged in its most active year of investments in seven years, and leaders with the company are not done growing yet. The company has invested over $170 million in 2022, representing the highest level of investment since 2015, executives from the Westlake, California-based real estate investment trust (REIT) noted […]
Over the past two weeks, executives of publicly traded senior living companies shared quarterly earnings results. I was particularly struck by the words of Welltower (NYSE: WELL) CEO Shankh Mitra, who called the company’s second-quarter results “mediocre at best.” We’re used to CEOs taking pains to stress the positives in earnings, and there were positives […]
LTC Properties (NYSE: LTC) has transitioned 12 senior living communities to operating partner ALG Senior as the company gears up to make more investments in 2022 than last year. Leaders with the Westlake Village, California-based real estate investment trust (REIT) said the the properties, which represent 625 private-pay units, were formerly operated by a company […]
Despite the industry-wide distress and the potential for new hurdles in the road to recovery, LTC Properties (NYSE:LTC) Chairman and CEO Wendy Simpson believes that several factors – recent rent growth, a drop in agency staffing, and “solid” long-term demographic growth – point to a positive long-term outlook in senior living. “I believe that we […]
Transactions Front Porch, Covia Communities Complete Merger Front Porch announced that its merger with Covia Communities became effective on April 1. The merger, which was announced in 2021, has a footprint that includes about 7,500 residents in 19 senior living communities located in four states. The new organization will operate under the Front Porch name […]
With a senior housing recovery underway, LTC Properties (NYSE: LTC) Chairman and CEO Wendy Simpson is cautiously optimistic about the road ahead – but staffing challenges continue to weigh on the company’s operating partners in the short term. In the third quarter of 2021, Simpson said that workforce issues were constraining occupancy growth. Those conditions […]
One year ago, vaccine clinics were just getting underway in senior living communities, raising hopes for a better year ahead after the devastating toll exacted by Covid-19 in 2020. While Covid-19 vaccines have been a gamechanger for senior living providers, the quotes below reflect that 2021 presented plenty of daunting challenges, including unprecedented labor pressures. […]
A 13-property senior living portfolio is changing hands, thanks in part to $60 million in financing from LTC Properties (NYSE: LTC). “On the heels of our recent announcement of $46 million in investments through a variety of loan vehicles, this structured finance investment is another example of our ability to provide operators with the financing […]
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