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ATLANTA — LTC Properties (NYSE: LTC) has acquired a seniors housing portfolio located in Atlanta for $108 million.
The portfolio comprises roughly 400 independent living, assisted living and memory care units across three properties. Built between 2014 and 2018, the communities were 92 percent occupied at the time of acquisition.
The Arbor Co. manages the communities and will be retained by LTC as the operator.
This marks the first seniors housing operating portfolio (SHOP) acquisition for LTC this year. The REIT’s portfolio currently features approximately 190 properties throughout the U.S.