LTC Properties completed the sale of a seven-property skilled nursing facility portfolio with transactions in California and Virginia for $79 million, the Westlake Village, CA-based real estate investment trust announced Thursday. The REIT said it expects a gain on the sale of the properties of approximately $52 million.
Earlier this month, LTC completed the $42 million sale of two SNFs in Florida, leaving the $79 million dollar transaction as the last piece of the planned disposition announced in August during the company’s second-quarter earnings call.
LTC has been focused on building up a portfolio of newer senior living communities this year as it sheds the older SNFs in its portfolio. On a gross real estate investment basis, the REIT’s portfolio of senior living communities represents approximately 62% of its gross real estate investments, with the remaining 38% in skilled nursing. LTC’s senior housing operating portfolio segment represents 19% of its total portfolio, the company said.
“LTC continues to deliver on its strategy of external growth. By completing these planned sales of older skilled nursing centers, we can strategically redeploy capital toward SHOP assets that further enhance our portfolio,” Gibson Satterwhite, LTC’s executive vice president, asset management, said. “2025 has been a period of significant growth, and we plan to continue along a path of sustainable and profitable growth well into the future.”
Among other recent deals changing the overall portfolio balance, the REIT recently closed on the $40 million acquisition of two assisted living and memory care communities, bringing a new operator to LTC. Naperville, IL-based Charter Senior Living has operated the two communities, located in Kentucky, since they opened in 2023.
Following that purchase, a $195 million acquisition added five Lifespark-managed communities to the LTC Properties portfolio. St. Louis Park, MN-based Lifespark has managed the communities since 2021. It is a new operator in the REIT’s portfolio.
