WESTLAKE VILLAGE, Calif. — LTC Properties Inc. (NYSE: LTC), a real estate investment trust that invests in seniors housing and healthcare properties, has elected Cornelia Cheng as a new member of the board of directors effective April 1.
The move increases the total number of directors from five to six, 50 percent of whom are women, and independent directors from four to five.
Cheng, 53, brings over 20 years of corporate finance, acquisitions, capital markets, recapitalization, REIT financings and talent management experience. She is currently managing director of investments for Brightwood Capital Advisors LLC, a private credit fund. Prior to joining Brightwood, Cheng was regional head of the greater Los Angeles investment team for Prudential Capital Group and a senior associate for CIBC World Markets.
“LTC has known Cornelia since 2010 when she worked with us, and underwrote our debt relationship with Prudential,” says Wendy Simpson, LTC’s chairman and chief executive officer. “As such, she comes to our board with a substantial understanding of our business and industry.”
Separately, LTC’s Board will form a new committee to address diversity and ESG initiatives at the company. Cheng will chair that committee.