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·2023-03-20I'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.LikeReport
- YvetteGunther·2023-03-20For 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.LikeReport
- shining87·2023-03-20The whole industry is being crushed right now. When the situation calms down, I will buy back.LikeReport
- jeffry09·2023-03-20LTC is not a stock to buy and sell for trading purposes. I love LTC. It's special!LikeReport
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