LTC to re-lease one third of portfolio

LTC Properties (LTC -0.5%) will allow 37 leases with two firms expire at year's end and attempt to re-lease the properties. This particular portfolio has annualized GAAP rent of about $11M, representing 9.3% of LTC's total revenue.

CEO Wendy Simpson: "We believe the significant potential upside of this portfolio represents a compelling economic opportunity for many quality assisted living providers."

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