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DALLAS — LTC Properties Inc. (NYSE: LTC), a healthcare REIT based in California, has acquired a skilled nursing facility in the Dallas-Fort Worth area for $16 million. The name of the facility was not disclosed.
The property opened in mid-2015 and comprises 126 licensed beds. It is leased to an affiliate of Fundamental Administrative Services LLC at an incremental initial cash yield of 8.5 percent. Rent will escalate annually by 2.5 percent.