LTC Properties (NYSE: LTC) announced the sale of five skilled nursing centers, with total proceeds of $79 million.

LTC’s 5-SNF property sale

LTC Properties (NYSE: LTC) announced the sale Thursday of five skilled nursing centers, completing its planned disposition of a seven-property portfolio.

The sale included four located in Virginia for $51 million, and one in California for $29 million, the real estate investment trust (REIT) said in a press release.

The sales proceeds totaled $79 million, with an expected gain on sale of approximately $52 million, the company said.

“[T]he sale furthers LTC’s ongoing efforts to actively manage and strengthen its portfolio through strategic capital recycling,” the company’s press release noted. “Proceeds from the sales will be redeployed for the acquisition of newer, stabilized Seniors Housing Operating Portfolio (“SHOP”) assets consistent with the company’s strategic focus on external growth and portfolio diversification.”

LTC’s portfolio includes approximately 190 properties throughout the United States. LTC increased its exposure to seniors housing throughout 2025. On a gross real estate investment basis, approximately 62% of the LTC’s assets are in seniors housing, with the remaining 38% in skilled nursing. LTC’s SHOP segment now represents 19% of its total portfolio.

“LTC continues to deliver on its strategy of external growth. By completing these planned sales of older skilled nursing centers, we can strategically redeploy capital toward SHOP assets that further enhance our portfolio,” Gibson Satterwhite, LTC’s executive vice president of asset management, said in the press release. “2025 has been a period of significant growth, and we plan to continue along a path of sustainable and profitable growth well into the future.”

Financing for Virginia life plan community

Ziegler announced the closing of Shenandoah Valley Westminster-Canterbury’s $16,469,896 Series 2025 Bonds.

Shenandoah Valley Westminster-Canterbury (SVWC) is a Virginia not-for-profit organization that owns and operates a life plan community located in Winchester, Virginia.

SVWC was founded in 1982 and provides housing, health care, and other services on its 87-acre campus through the operation of 311 independent living units, 48 assisted living units, 12 memory care units and 51 skilled nursing beds.

Having recently completed a two-phase 97-unit independent living apartment expansion project, SVWC was effectively built-out on their existing campus.

In early 2025, SVWC was approached by the owner of roughly 90-acres of undeveloped land contiguous to their campus. Recognizing the value of the additional land for future development opportunities, SVWC negotiated a purchase agreement to acquire the land. To finance the land acquisition, SVWC issued a Series 2025 Direct Bank Bond, purchased by Atlantic Union Bank, with an 8-year commitment period at terms and pricing matched to their existing debt.

In addition, Ziegler was able to work with SVWC’s existing lenders to lower the credit spread and modify the amortization on their existing Series 2023A Direct Bank Bond, to lessen their annual debt service requirements in the near-term.