LTC Acquires Newly Constructed Senior Living Community in Georgia for $14.3 Million

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–Expands Relationship with Thrive Senior Living–

WESTLAKE VILLAGE, Calif.–(BUSINESS WIRE)–LTC Properties, Inc. (NYSE:LTC), a real estate investment trust that
primarily invests in seniors housing and health care properties,
announced today it has acquired the Village at Athens, a 70-unit
assisted living and memory care community near Athens, GA for $14.3
million.

The newly constructed community received its certificate of occupancy in
May 2016 and has been added to an existing master lease with an
affiliate of Thrive Senior Living (“Thrive”) at an incremental initial
cash yield of 8%. The purpose-built, private-pay community has 90
licensed beds and is comprised of 50 assisted living units and 20
dedicated memory care units.

The Village at Athens expands LTC’s relationship with Thrive to three
communities. Two additional development projects are in the pipeline,
both expected to open by year’s end.

“Partnering with Thrive to invest in multiple communities underscores
our stated strategy of methodically establishing and growing
relationships with bourgeoning regional operators,” said Wendy Simpson,
LTC’s Chairman and Chief Executive Officer. “The addition of this newly
built and developed property enhances our portfolio’s overall quality by
reducing its average age while increasing investments held in
private-pay senior living communities. We are delighted to continue to
cultivate our partnership and contribute to Thrive’s long-term success.”

About LTC Properties

LTC (NYSE:LTC) is a real estate investment trust that invests in seniors
housing and health care properties primarily through sale-leaseback
transactions, mortgage financing and structured finance solutions
including mezzanine lending. The company’s portfolio currently includes
more than 200 assisted living communities, memory care communities and
post-acute/skilled nursing centers, located in 30 states with 35
regional and national operating partners. For more information, visit www.LTCreit.com.

Forward Looking Statements

This press release includes statements that are not purely historical
and are “forward looking statements” within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements
regarding the Company’s expectations, beliefs, intentions or strategies
regarding the future. All statements other than historical facts
contained in this press release are forward looking statements. These
forward looking statements, include, but are not limited to, enhancing
LTC’s portfolio quality and opening two additional projects with Thrive
later in the year. Please see the most recent Annual Report on Form
10-K, the subsequent Quarterly Reports on Form 10-Q, and other publicly
available filings with the Securities and Exchange Commission for a
discussion of these and other risks and uncertainties. All forward
looking statements included in this press release are based on
information available to the Company on the date hereof, and the Company
assumes no obligation to update such forward looking statements.
Although the Company’s management believes that the assumptions and
expectations reflected in such forward looking statements are
reasonable, no assurance can be given that such expectations will prove
to have been correct. The actual results achieved by the Company may
differ materially from any forward looking statements due to the risks
and uncertainties of such statements.

Contacts

LTC Properties, Inc.
Wendy Simpson or Pam Kessler, 805-981-8655