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WESTLAKE VILLAGE, Calif.--([ BUSINESS WIRE ])--[ LTC Properties, Inc. ] (NYSE: LTC) (athe Companya) announced today that it acquired a skilled nursing property with 144 licensed beds for $18,600,000. The property is located in Red Oak, Texas (Dallas-Ft. Worth MSA) and was built in 2002. The acquisition was funded from the Companyas unsecured revolving line of credit. Simultaneous with the purchase, the Company added the property to an existing master lease with an unrelated third-party operator at an initial cash yield of 9.0% and an incremental GAAP yield of 10.8%.

The Company is a self-administered real estate investment trust that primarily invests in long-term care and other health care related facilities through facility lease transactions, mortgage loans and other investments. For more information on LTC Properties, Inc., visit the Companyas website at [ www.ltcproperties.com ].