LTC Properties (NYSE: LTC) acquires $195M Wisconsin seniors housing

Rhea-AI Filing Summary

LTC Properties, Inc. completed a significant acquisition of seniors housing assets. On September 29, 2025, the company acquired five seniors housing communities in Wisconsin totaling 520 units from local developers. The aggregate purchase price was $195 million.

The transaction was funded through a mix of borrowing and equity capital, using the company’s line of credit, proceeds from loan payoffs, and proceeds from sales of common stock under its at-the-market (ATM) program. This expands LTC’s seniors housing portfolio while increasing its use of both debt capacity and recently raised equity.

Insights

REIT and real estate transactions analyst

LTC expands its seniors housing portfolio with a $195M Wisconsin acquisition.

LTC Properties, Inc. has completed the purchase of five seniors housing communities in Wisconsin totaling 520 units for $195 million. This directly adds operating seniors housing assets to its portfolio in a single, concentrated regional transaction with local developers as the sellers.

The funding structure combines the company’s line of credit, proceeds from loan payoffs, and proceeds from sales of common stock under its ATM program. This mix indicates use of both balance sheet liquidity and recently issued equity, rather than a single large term loan or bond. It also suggests the company is actively recycling capital from loan payoffs into owned real estate.

The financial impact will depend on how rental or operating income from these communities compares with the cost of funds from the credit line and the equity issued under the ATM program. Future periodic reports covering periods after September 29, 2025 will show how this acquisition contributes to revenue, net income, and funds from operations.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20459

FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report:  September 29, 2025

(Date of earliest event reported)

LTC PROPERTIES, INC.

(Exact name of Registrant as specified in its charter)

Maryland		1-11314		71-0720518
(State or other jurisdiction of		(Commission file number)		(I.R.S. Employer
incorporation or organization)				Identification No)

3011 Townsgate Road, Suite 220

Westlake Village, CA 91361

(Address of principal executive offices)

(805) 981-8655

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading symbol(s)		Name of each exchange on which registered
Common stock, $.01 par value		LTC		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨

Item 2.01 Completion of Acquisition or Disposition of Assets

On September 29, 2025, LTC Properties, Inc. (the “Company” or “LTC”) completed an acquisition, consisting of five seniors housing communities totaling 520 units, in Wisconsin from local developers.

The aggregate purchase price paid at closing was $195 million funded by utilizing the Company’s line of credit, proceeds from loan payoffs, and proceeds from sales of common stock under the Company’s ATM program.

SIGNATURE

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

	LTC PROPERTIES, INC.
Dated: October 3, 2025	By:	/s/ CAROLINE CHIKHALE
		Caroline Chikhale
		Executive Vice President, Chief Financial Officer and Treasurer

FAQ

What transaction did LTC (LTC) report in this Form 8-K?

LTC Properties, Inc. reported that on September 29, 2025, it completed the acquisition of five seniors housing communities in Wisconsin totaling 520 units from local developers.

What was the purchase price of the seniors housing communities acquired by LTC?

The aggregate purchase price for the five Wisconsin seniors housing communities was $195 million.

How did LTC fund the $195 million acquisition of the seniors housing communities?

LTC funded the $195 million purchase using its line of credit, proceeds from loan payoffs, and proceeds from sales of common stock under its at-the-market (ATM) program.

How many units are included in LTC’s newly acquired seniors housing communities?

The acquisition consists of five seniors housing communities totaling 520 units in Wisconsin.

Where are the properties acquired by LTC located?

The five seniors housing communities acquired by LTC Properties, Inc. are located in Wisconsin.

Who signed the Form 8-K on behalf of LTC Properties, Inc.?

The Form 8-K was signed by Caroline Chikhale, Executive Vice President, Chief Financial Officer and Treasurer of LTC Properties, Inc.