LTC Properties announced that it has originated a $12.7 million senior loan to Ignite Medical Resorts, a current LTC operator, for the purchase of a skilled nursing and assisted living campus in Katy, Texas. The investment will be accounted for as an unconsolidated joint venture. The five-year loan is interest only at a current rate of 9.15% and includes a CapEx investment of approximately $800,000 for campus improvements. LTC expects this investment to generate approximately $884,000 of revenue in 2024.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LTC:
- Ex-Dividend Date Nearing for These 10 Stocks – Week of March 18, 2024
- LTC Properties price target lowered to $36 from $37 at Wedbush
- Ex-Dividend Date Nearing for These 10 Stocks – Week of February 19, 2024
- LTC Properties reports Q4 FFO 57c, consensus 69c
- LTC Earnings Report this Week: Is It a Buy, Ahead of Earnings?
