WESTLAKE VILLAGE, Calif. — LTC Properties has acquired two communities located in Colorado and New Mexico for a combined purchase price of $73 million. Harbert Management Corp. was the seller.
Berkadia brokered the sale of the properties, MorningStar of Albuquerque in New Mexico and MorningStar of Wheat Ridge in Denver. The communities total 69 units and 64 units, respectively, with assisted living and memory care.
MorningStar Senior Living will continue to manage the properties on behalf of the new ownership.
LTC will own the communities as a senior housing operating portfolio (SHOP) properties. Since launching its SHOP platform in May 2025, the portfolio has grown to 36 properties, representing 34 percent of the REIT’s total gross real estate investments.