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PHOENIX — LTC Properties has completed the acquisition of MorningStar at Arcadia, an assisted living and memory care community located in Phoenix, for $54 million. The community is being added to LTC’s seniors housing operating portfolio (SHOP).
MorningStar will continue to operate the property, which totals 104 units, on behalf of LTC.
LTC launched its SHOP platform in May 2025.
“Since our platform launch, we have partnered with eleven SHOP operating partners, nine new to LTC,” says Michael Bowden, senior vice president of investments at LTC. “We continue to build our acquisition pipeline with a healthy volume of potential SHOP acquisitions, supporting our strategy to position LTC for higher intrinsic growth.”