Acquisition

LTC has spent the last two decades establishing a reputation as a trusted capital partner to operators in the seniors housing and health care industry. Since 1992 we have steadily expanded our portfolio to more than 200 properties across the country.

Acquisitions are always undertaken in collaboration with our operating partners. We seek to build durable, mutually beneficial partnerships based on trust, transparency and shared success. This combination of personal attention coupled with significant capital resources and industry expertise allows us to execute transactions of all sizes.

Case Study:

15 PROPERTy Portfolio, Michigan

Prestige Healthcare Management (“Prestige”) is a regional provider of post-acute and skilled nursing services. The company currently operates 52 properties in nine states. In 2013 Prestige identified an off-market transaction consisting of 15 post-acute and skilled nursing properties in Michigan comprising more than 2,000 licensed skilled nursing beds. Building on a relationship with Prestige that began in 2011, contract terms were quickly defined for a $126 million mortgage loan with additional specified commitments for capital improvements and short-term working capital.

In addition to building on targeted growth with Prestige, this investment expanded our geographic footprint, specifically in Michigan and more broadly in the top 31 metropolitan statistical areas. The transaction illustrates our flexible and collaborative approach to deal structuring, with the transaction being structured as a mortgage loan to accommodate Prestige’s requirements, while embodying most elements of a long-term master lease and a purchase option whereby under certain circumstances LTC has the right to acquire the real estate in a sale leaseback transaction. The speed, efficiency and collaborative approach to the financing structure of this off-market deal were hallmarks of LTC’s approach to acquisitions.