LTC Properties offloads 2 New Mexico senior centers for $21.3M

LTC Properties $LTC Properties(LTC)$  said it sold two nursing centers in New Mexico, with a total bed capacity of 235 members, for $21.3 million.

The proceeds from the sale will be used to pay down the company’s unsecured revolving line of credit.

LTC anticipates recording a gain on sale of about $15 million in the first quarter.

As a result of the sale, the two properties were removed from the operator’s master lease, and LTC provided a rent decrease of 7.5% of the net proceeds, or about $1.5 million of cash rent, to the operator. 

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  • fishinglo
    ·2023-03-20
    I'm not buying LTC to sell at a better price. I'm hopeful, if things turn out well for me, my Roth holdings will be transfer through via my estate. A tax free blessing for ten years after I'm gone. I hope to be able to buy LTC on the dips until my last day.
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  • YvetteGunther
    ·2023-03-20
    For me, LTC is a unique holding. its a monthly lifetime revenue machine, held in my Roth IRA. LTC provides a very special consistent tax free income.
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  • shining87
    ·2023-03-20
    The whole industry is being crushed right now. When the situation calms down, I will buy back.
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  • jeffry09
    ·2023-03-20
    LTC is not a stock to buy and sell for trading purposes. I love LTC. It's special!
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  • Calvert1234
    ·2023-03-18
    👍🏼
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  • TTH4Legs
    ·2023-03-18
    .
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  • ApacheFire
    ·2023-03-18
    Yes
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  • bengkoon
    ·2023-03-18
    Ok
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  • ZStarWyvernZ
    ·2023-03-18
    cool
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  • boomer9595
    ·2023-03-18
    ok
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  • omizu
    ·2023-03-18
    k
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  • Tigger88
    ·2023-03-18
    K
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  • BoJio
    ·2023-03-18
    Great
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  • Sirius.R
    ·2023-03-18
    ok
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  • kkchang
    ·2023-03-18
    OK
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  • DUL FIARDI
    ·2023-03-18
    k
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  • findgc
    ·2023-03-18
    Ok
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