LTC Furthers Transformative Growth With $195 Million SHOP Acquisition

– Welcomes New LTC Partner, Lifespark –

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--LTC Properties, Inc. (NYSE: LTC) (“LTC” or the “Company”), a real estate investment trust that invests in seniors housing and health care properties, today announced a $195 million Senior Housing Operating Portfolio (“SHOP”) acquisition.

Acquisition Highlights

• Investment: $195 million acquisition of five independent living, assisted living and memory care communities, totaling 520 units, in Wisconsin.
• Performance: Stabilized communities, with an average age of six years, expected to deliver a year-one yield of approximately 7%.
• Operating Partner: Lifespark, a new LTC operating partner, has managed the communities since 2021.
• Funding: Line of credit, proceeds from previously disclosed property sales and loan payoffs occurring in the second half of 2025, and proceeds from sales of common stock under the Company’s ATM program.
• Momentum: LTC has closed 80% ($370 million) of its projected $460 million pipeline. Of this, $270 million has been added to the Company’s SHOP portfolio. LTC expects to close an additional $90 million in SHOP acquisitions by the end of 2025.
• SHOP Portfolio Composition: LTC’s SHOP investments make up approximately 18% of its total portfolio, and includes nearly 1,580 units, across five operators, three of whom are new to LTC.

“This transaction provides another example of LTC executing on our strategy of driving transformative growth through SHOP. It reflects disciplined execution, helps reshape the complexion of our business, and demonstrates our focus on establishing new, strong SHOP relationships,” said Pam Kessler, LTC’s Co-CEO.

“We are continuing to deliver on our commitment of strong external growth and portfolio diversification, while enhancing our ability to further transform our business through SHOP,” said Clint Malin, LTC’s Co-CEO. “We are honored to work with Lifespark as their first-ever REIT partner. Their visionary approach to seniors housing aligns well with our own, as we work to help shape the future of our industry.”

“The senior living market is ripe with opportunistic conditions that will push us all to rethink how we integrate health and housing for a complete experience,” said Joel Theisen, BSN, RN, Lifespark CEO. “Our partnership with LTC is built on mutual trust, capability, and collaboration that together will create long-term value for those who reside and work in our communities.”

About LTC

LTC is a real estate investment trust (REIT) focused on seniors housing and health care properties, investing through SHOP, triple-net leases, joint ventures, and structured finance solutions. The Company’s portfolio includes nearly 200 properties throughout the United States. Based on gross real estate investments, approximately 60% of the Company’s assets are seniors housing communities with the remainder skilled nursing centers. Learn more at www.ltcreit.com.

About Lifespark

Lifespark is the ONLY complete senior health company with a fully integrated senior housing delivery system proven to help residents stay healthy at home, navigate their health options with confidence, and ultimately live fuller, more independent lives. Headquartered in St. Louis Park, Minnesota, Lifespark is uniquely designed to provide long-term guidance and lifetime value for seniors (and their loved ones), senior housing owners, and investors. Lifespark’s unique COMPLETE Senior Living model integrates high-performing senior living management, with its geriatric medical expertise, world-class gamified resident growth and development, and a comprehensive path to late life/hospice.

For more on Lifespark, visit: www.lifespark.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, adopted pursuant to the Private Securities Litigation Reform Act of 1995. Statements that are not purely historical may be forward-looking. You can identify some of the forward-looking statements by their use of forward-looking words, such as “believes,” “expects,” “may,” “will,” “could,” “would,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates” or “anticipates,” or the negative of those words or similar words. Examples of forward-looking statements include the Company’s investment pipeline, including SHOP acquisitions and growth, sources of funding, and future strategy. Forward-looking statements involve inherent risks and uncertainties regarding events, conditions and financial trends that may affect the Company’s future plans of operation, business strategy, results of operations and financial position. A number of important factors could cause actual results to differ materially from those included within or contemplated by such forward-looking statements, including, but not limited to, the Company’s dependence on its operators for revenue and cash flow; operational and legal risks and liabilities under the Company’s new SHOP segment; government regulation of the health care industry; changes in federal, state, or local laws limiting REIT investments in the health care sector; federal and state health care cost containment measures including reductions in reimbursement from third-party payors such as Medicare and Medicaid; required regulatory approvals for operation of health care facilities; a failure to comply with federal, state, or local regulations for the operation of health care facilities; the adequacy of insurance coverage maintained by the Company’s operators; the Company’s reliance on a few major operators; the Company’s ability to renew leases or enter into favorable terms of renewals or new leases; the impact of inflation, operator financial or legal difficulties; the sufficiency of collateral securing mortgage loans; an impairment of the Company’s real estate investments; the relative illiquidity of the Company’s real estate investments; the Company’s ability to develop and complete construction projects; the Company’s ability to invest cash proceeds for health care properties; a failure to qualify as a REIT; the Company’s ability to grow if access to capital is limited; and a failure to maintain or increase the Company’s dividend. For a discussion of these and other factors that could cause actual results to differ from those contemplated in the forward-looking statements, please see the discussion under “Risk Factors” contained in the Company’s Annual Report on Form 10‑K for the fiscal year ended December 31, 2024, the Company’s subsequent Quarterly Reports on Form 10‑Q, and the Company’s publicly available filings with the Securities and Exchange Commission. The Company does not undertake any responsibility to update or revise any of these factors or to announce publicly any revisions to forward-looking statements, whether as a result of new information, future events or otherwise. Although the Company’s management believes that the assumptions and expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. The actual results achieved by the Company may differ materially from any forward-looking statements due to the risks and uncertainties of such statements.