LTC Properties announced the $40 million acquisition of a senior housing operating portfolio community in Wisconsin comprising 147 independent living, assisted living, and memory care units. Health Dimensions Group, a SHOP operator new to LTC, will continue to manage the property.
The acquisition was completed at a cap rate of approximately 7.2 percent, with an anticipated unlevered internal rate of return in the low- to mid-teens, funded through proceeds from at-the-market equity sales. During the second quarter of 2026, LTC sold 4.1 million shares of common stock for $154.7 million in net proceeds under its equity distribution agreement. The company also said it expects to acquire an additional $95 million of SHOP communities within the next month.
Since launching its SHOP platform in May 2025, LTC has grown the portfolio to 37 properties, representing 35 percent of the company’s total gross real estate investments, spanning 12 operators, 10 of which are new relationships for LTC.
KEY QUOTES:
“We are excited to welcome HDG to the LTC family with this off-market acquisition. Their passion for delivering care and fostering culture is evident. Each new relationship we build continues to drive our SHOP transformation.”
Michael Bowden, Senior Vice President of Investments, LTC Properties
“LTC is an excellent growth partner for HDG as we continue to expand our Caring Above and Beyond approach, a proven process designed to make a real difference in the senior living experience. We look forward to continuing to provide vibrant, caring environments for older adults and their families, and to mutual success through our collaboration with LTC.”
Erin Schvetzoff Hennessey, Chief Executive Officer and Principal, Health Dimensions Group
