LTC Properties announced that it has increased commitments under its credit facility to $1.1 billion from $800 million.
LTC is a real estate investment trust that primarily invests in seniors housing and health care properties.
The company entered into a second amendment to its July 21, 2025 credit agreement to increase the aggregate commitment of its lenders by $300 million.
The increase was achieved by exercising the agreement’s accordion feature.
The $300 million increase expands LTC’s aggregate revolving credit commitment to $900 million from $600 million.
The agreement also increases the accordion feature from up to $1.2 billion to up to $2 billion.
The material terms of the agreement otherwise remain unchanged.
In connection with the agreement, LTC entered into three-year interest rate swap agreements to effectively fix the interest rate on $150 million at 4.97% per year.
The agreement also expands LTC’s bank group to include new relationships with Manufacturers and Traders Trust Company and Hancock Whitney.
LTC said the expanded credit facility strengthens its financial flexibility and supports its external growth strategy.
The company has been expanding its SHOP platform since its initial transaction in May 2025.
LTC invests through SHOP, 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 LTC’s assets are seniors housing communities, with the remainder consisting of skilled nursing centers.
KEY QUOTE:
“Expanding our credit facility strengthens LTC’s financial flexibility and positions us to continue executing on our external growth strategy. We have meaningfully expanded SHOP since our initial transaction in May 2025, and we remain focused on continuing to build momentum by pursuing additional NOI growth opportunities.”
Cece Chikhale, CFO of LTC
