LTC Properties has acquired a 117-unit assisted living and memory care community in Florida for $62 million, expanding its seniors housing portfolio and adding a new operator relationship. Grace Management will remain in charge of the community, which opened in 2016. LTC funded the purchase through its revolving credit line and at-the-market stock sales.
Key takeaways
The acquisition adds to LTC’s operating portfolio as the real estate investment trust reports strong investment activity against its 2026 guidance.
- The Florida community has 117 units and offers assisted living and memory care.
- Grace Management will continue operating the property.
- LTC said it has completed nearly $950 million in seniors housing operating portfolio acquisitions this year.
A new addition to the operating portfolio
The $62 million purchase brings a new operator into LTC’s seniors housing operating portfolio. The community was built in 2016, and the company said its existing manager, Grace Management, will continue to oversee operations. LTC did not identify the community by name in its announcement.
Funding and investment pace
LTC financed the acquisition with a combination of borrowings from its revolving credit line and proceeds from at-the-market stock sales. The company said its nearly $950 million in seniors housing operating portfolio acquisitions this year exceeds the $900 million midpoint of its 2026 investment guidance.
Portfolio scale and contribution
Following the purchase, LTC’s seniors housing operating portfolio comprises 50 communities managed by 14 operators. The portfolio accounts for about 45% of the REIT’s pro forma annualized net operating income, according to the company. The new acquisition adds to that portfolio, though LTC did not disclose its individual contribution to income.