LTC Properties, Inc. announced that it has increased commitments under its credit facility to $800 million, with $200 million aggregate in term loans. Credit FacilityLTC entered into an amendment to its July 21, 2025 Credit Agreement (the ?Agreement?) to increase the aggregate commitment of its lenders by $200 million to a total of $800 million, through the exercise of the Agreement?s accordion feature. Term LoansLTC established term loans totaling $200 million, and entered into interest rate swap agreements to effectively fix the interest rates on the loans as follows: $50 million three-year loan maturing in 2028 at an effective interest rate of 4.61% per year.
$55 million four-year loan maturing in 2029 at an effective interest rate of 4.65% per year. $55 million five-year loan maturing in 2030 at an effective interest rate of 4.70% per year. $40 million seven-year loan maturing in 2032 at an effective interest rate of 5.22% per year.
The material terms of the Agreement otherwise remain unchanged.
LTC Properties, Inc. is a real estate investment trust (REIT). The Company invests in seniors housing and health care properties through sale-leasebacks, mortgage financing, joint ventures, construction financing and structured finance solutions including preferred equity, and mezzanine lending. It invests in various properties, including skilled nursing centers (SNF), which provides restorative, rehabilitative and nursing care; Assisted living facilities (ALF), which serves people who require assistance with activities of daily living; Independent living facilities (ILF), also known as retirement communities or senior apartments, offers a community and numerous levels of service, such as laundry, housekeeping, dining options/meal plans, exercise and wellness programs, transportation, social, cultural and recreational activities, on-site security, and others, and Memory care facilities (MC), offers specialized options for people with Alzheimer’s disease and other forms of dementia.
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