LTC Buys 117-Unit Florida Seniors Community for $62 Million: Year-to-Date SHOP Deals Near $950 Million
LTC Properties, Inc. (NYSE: LTC), a real estate investment trust based in Westlake Village, California, announced on November 3 the $62 million acquisition of a seniors community in Florida for its seniors housing operating portfolio (SHOP), surpassing its $900 million 2026 mid-point acquisition guidance and adding a new operator to the platform.
The community has 117 units offering assisted living and memory care and was built in 2016. Grace Management, Inc., a tenured operator new to LTC, will continue to manage the community. LTC expects a year-one cap rate of 6.5% and an anticipated unlevered internal rate of return in the low- to mid-teens. The purchase was funded with proceeds from the company's revolving line of credit and at-the-market (ATM) stock sales.
Year-to-date, LTC has completed nearly $950 million in SHOP acquisitions, surpassing its $900 million mid-point 2026 investment guidance. The SHOP portfolio now comprises 50 communities with an average age of nine years, managed by 14 operators, including 12 new relationships; 60% of the portfolio is located in primary markets as designated by NIC, and the segment contributes 45% of the company's pro forma annualized net operating income.
Chief Investment Officer Dave Boitano said surpassing the mid-point of the 2026 acquisition guidance reflects the strength of the SHOP strategy, the relationships the company has built, and the team's solid execution; he added that LTC remains excited about the momentum and opportunities to further scale and diversify SHOP, that Grace is a great addition to the platform, and that LTC looks forward to growing with them.
LTC is a real estate investment trust focused on seniors housing and health care properties, investing principally through SHOP as well as triple-net leases and joint ventures. Its portfolio includes nearly 170 properties across the United States; based on gross real estate investments, about 80% of its assets are seniors housing communities, with the remainder skilled nursing centers.
(Source: LTC Properties)
Source: LTC Properties
Published by GSM · USA (original Chinese edition)
Photo: 图：长者居住社区建筑外景（资料图，非本次收购标的）。Corey Coyle 摄，CC BY 3.0，经 Wikimedia Commons。 / Photo: A senior living community building (file photo, not the acquired property). Photo by Corey Coyle, CC BY 3.0, via Wikimedia Commons.
