LTC Properties Acquires 7 Skilled Nursing Facilities

LTC Properties, an Oxnard-based real estate investment trust, said it closed $24.6 million in mortgage loans in the second quarter of 1995, and acquired seven skilled nursing facilities--with a total of 637 beds--in Washington and Alabama for $18.7 million.

The newly acquired nursing homes are subject to mortgage loans totaling about $13.4 million.

A company spokesman called the second-quarter expansions “on target” with Wall Street projections for LTC’s growth in the second quarter.

The company is attempting to build a diverse portfolio of real estate investments and now has holdings in 23 states. The company’s gross investment in owned properties is now $95 million.