LTC Properties announced that it has originated a $12.7 million senior loan to Ignite Medical Resorts, a current LTC operator, for the purchase of a skilled nursing and assisted living campus in Katy, Texas. The investment will be accounted for as an unconsolidated joint venture. The five-year loan is interest only at a current rate of 9.15% and includes a CapEx investment of approximately $800,000 for campus improvements. LTC expects this investment to generate approximately $884,000 of revenue in 2024.
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