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LTC Properties announces completion, opening of skilled nursing property

LTC Properties announced the completion and opening of a 120-bed licensed skilled nursing property in Amarillo, Texas. This new property replaces a 90-bed licensed skilled nursing property in the Company’s existing portfolio. The new property is leased to an indirect affiliate of Fundamental pursuant to a master lease containing two properties and a total of 316 beds. The projected annual incremental cash rent from this property is approximately $700K.