LTC Raises $59.6 Million From Sale of Its Stock

LTC Properties Inc., an Oxnard real estate investment trust that invests in long-term care and other health-care facilities, said it raised $59.6 million from the sale of 4.8 million shares of common stock.

The money will be used to repay $30 million in debt and pay for $19.8 million of investments in long-term care facilities. The remainder will be used to make additional investments, LTC said.