LTC Invests $33 Million In Acquisitions

LTC Properties Inc., a real estate investment trust investing in seniors housing and care, announced it has acquired two Michigan senior housing communities and one skilled nursing facility in Texas. The Michigan communities will be operated by Randall Residence, and the Texas center will be operated by HMG Healthcare. Both regional operators are new to LTC.

The Randall Residence in Michigan acquired two properties, located in Auburn Hills and Sterling Heights, for $19 million, with an additional capital improvement investment of approximately $2 million in the first year of the lease. A total of 156 assisted living and memory care . . .