Denver Adds 76-Bed Residence for Alzheimer’s and Dementia

DENVER & PORTLAND, Ore.--(BUSINESS WIRE)--Anthem Memory Care (Anthem), a Portland-based developer and operator of communities designed for residents with cognitive impairment, has begun construction on a 37,500 SF facility in Littleton, Colo. with the capacity for 76 residents. The company broke ground on the community, Highline Place, on May 31 and anticipates that the residence, its second U.S. community, will open in Q2 of 2013. Highline Place will be operated by Anthem.

“Everything about our layout, design, staff training, daily care and services maximizes nutrition, independence, socialization, and dignity, while minimizing the behavioral problems associated with the disease process.”

Alzheimer’s and other dementias, as a singular category of progressive disease, is the fourth-leading cause of death in Americans over 65 years of age. Currently there are 5.3 million people living with Alzheimer’s or some other form of dementia, or one in eight persons over the age of 65. With the U.S. population surging with baby boomers, the need for care specific to memory related diseases is on the rise. More than 93 percent of U.S. beds dedicated to memory loss are occupied today.

“Anthem communities are designed with science and experience-driven knowledge specific to progressive cognitive decline in a way that creates a better living situation than traditional assisted living or nursing facilities,” said Mark Rockwell, a principal of Anthem. “Everything about our layout, design, staff training, daily care and services maximizes nutrition, independence, socialization, and dignity, while minimizing the behavioral problems associated with the disease process.”

In May, Anthem and LTC Properties Inc. (NYSE: LTC) entered into a lease agreement and development commitment totaling approximately $10MM for the purchase of land and construction of the community.

The Littleton-based residence is located at 6767 South Broadway. Chris Cowan, Principal for ARA National Land Services Team in Denver, represented Anthem in the land acquisition.

Anthem anticipates that it will commence resident leasing agreements in December 2012. It intends to expand its presence in the Denver metropolitan area with as many as three more communities located in inner suburban areas to meet the needs of the rapidly growing and underserved population of memory care patients.

About LTC Properties

The Company is a self-administered real estate investment trust that primarily invests in senior housing and long-term care facilities through facility lease transactions, mortgage loans and other investments. For more information on LTC Properties, Inc., visit the Company’s website at www.LTCProperties.com.

About Anthem Memory Care

Anthem Memory Care (Anthem) is a team of experienced individuals who have successfully developed and leased more than 60 new senior communities, operated more than 1,500 beds dedicated to memory care, and more than 12,000 senior units in total. With initial communities in Chico California and Littleton Colorado, Anthem is committed to creating a portfolio of communities dedicated to providing the highest quality healthcare and housing for those with cognitive impairment. The Company can be found online at http://www.anthemmemorycare.com/.