LTC SHOP Growth Continues with $40 Million SHOP Acquisition, Bringing Year-to-Date SHOP Investments to Nearly $285 Million

– Enters into New Relationship with Health Dimensions Group –

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--LTC Properties, Inc. (NYSE: LTC) (“LTC” or the “Company”), a real estate investment trust specializing in seniors housing and health care properties, today announced the $40 million SHOP acquisition of a community in Wisconsin that includes 147 independent living, assisted living and memory care units. Health Dimensions Group (“HDG”), a SHOP operator new to LTC, will continue to manage the property.

The acquisition was completed at a cap rate of approximately 7.2%, with an anticipated unlevered IRR in the low- to mid-teens, and was funded with proceeds from ATM sales. During the 2026 second quarter, LTC sold 4.1 million shares of common stock for $154.7 million in net proceeds under its equity distribution agreement.

The Company also announced that it expects to acquire $95 million of SHOP communities within the next month.

“We are excited to welcome HDG to the LTC family with this off-market acquisition. Their passion for delivering care and fostering culture is evident,” said Michael Bowden, LTC’s Senior Vice President of Investments. “Each new relationship we build continues to drive our SHOP transformation.”

“LTC is an excellent growth partner for HDG as we continue to expand our Caring Above and Beyond^® approach, a proven process designed to make a real difference in the senior living experience,” said Erin Schvetzoff Hennessey, Chief Executive Officer and Principal of HDG. “We look forward to continuing to provide vibrant, caring environments for older adults and their families, and to mutual success through our collaboration with LTC.”

LTC’s SHOP Snapshot

Since launching SHOP in May 2025, LTC has grown its portfolio to 37 properties, which represents 35% of the Company’s total gross real estate investments. The platform spans 12 operators, 10 of which are new LTC relationships.

About LTC

LTC is a real estate investment trust (REIT) focused on seniors housing and health care properties, principally investing through SHOP, as well as triple-net leases, and joint ventures. The Company’s portfolio includes nearly 190 properties throughout the United States. Based on gross real estate investments, nearly 70% of the Company’s assets are seniors housing communities with the remainder skilled nursing centers. Learn more at www.ltcreit.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 statements regarding anticipated unlevered IRR, expected acquisition of $95 million of SHOP communities over the next month, SHOP growth and other statements regarding 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, operational and legal risks and liabilities under the Company’s new SHOP segment; the Company’s dependence on the ability of its third-party independent operators to successfully manage and operate the Company’s SHOP communities; the Company’s dependence on its operators for revenue and cash flow; 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 applicable law or 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 find suitable replacement operators for its SHOP communities; 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, 2025, 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.