LTC Properties: Additional Q1 2022 Operational and Financial Data

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FORWARD-LOOKING STATEMENTS

This additional information contains 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, enacted under the Private Securities Litigation Reform Act of 1995. Statements that are not purely historical may be forward-looking. You can identify some of the forward-looking statements by the use of forward-looking words, such as “believes”, “expects”, “may”, “will”, “should”, “seeks”, “approximately”. ”intends” ”plans” ”estimates” or ”anticipates” or the negative of these or similar words. Forward-looking statements involve inherent risks and uncertainties regarding events, conditions and financial trends that could affect our future operating plans, business strategy, results of operations and financial condition. A number of important factors could cause actual results to differ materially from those included in or contemplated by these forward-looking statements, including, but not limited to, economic conditions, financial market conditions ( including prevailing interest rates), and our access to capital; income and returns available on investments in healthcare-related real estate, the ability of our borrowers and tenants to meet their obligations to us, our reliance on a few large operators; competition faced by our borrowers and tenants in the health care industry, regulation of the health care industry by federal, state and local governments, changes in Medicare and Medicaid reimbursement amounts (including in due to federal and state budget constraints), compliance with and changes in healthcare payment regulations and policies, debt we may incur and changes in financing terms, our ability to continue to qualify for as a real estate investment trust, the relative illiquidity of our real estate investments, potential limitations on our remedies in the event of mortgages, loan defaults, and the risks and liabilities of properties held through limited liability companies limited and partnerships. For a discussion of these and other factors that could cause actual results to differ from those contemplated by the forward-looking statements, please see the discussion under “Risk Factors” and other information contained in our annual report on form 10-K for the year ended December 31, 2021 and in our public filings with the Securities and Exchange Commission. We assume no responsibility to update or revise any of these factors or to publicly announce any revisions to any forward-looking statements, whether as a result of new information, future events or otherwise.

NON-GAAP INFORMATION

This supplemental information contains certain non-GAAP information, including EBITDAregardingAdjusted EBITDAregarding, FFO, FFO excluding non-recurring items, FAD, FAD excluding non-recurring items, adjusted interest coverage ratio and adjusted fixed charge coverage ratio. A reconciliation of this non-GAAP information is provided on pages 22, 25 and 26 of this supplementary information, and additional information is available in the “Non-GAAP financial measures” subsection of the “Selected financial data” section. from our website at www.LTCreit.com.

THE SOCIETY

Company information and direction 3

INVESTMENTS

Real estate activities

Investments and recycling of capital 4

Acquisitions, Mortgages and Mezzanine Loans 5

Joint ventures 6

Rental and Renovations & Extensions 7

5-year rental history 8

WALLET

Presentation 9-10

Maturity 11 Diversification

Operators 12-13

Geography, MSA, Portfolio Age 14-15

Measures of real estate investments 16

Update 17

FINANCIAL

Enterprise Value 18

Debt measures 19

Debt maturity 20

Summary of financial data 21-22

Income statement data 23

Consolidated balance sheets 24

Funds from operations 25-26

ESG and GLOSSARY

ESG (Environment, Social & Governance) 27

Glossary 28-29

Founded in 1992, LTC Properties, Inc. (NYSE: LTC) is a self-managed real estate investment trust (REIT) that invests in senior housing and health care facilities primarily through sale-leaseback transactions , mortgage financing and structured financing solutions, including preferred shares. and mezzanine loans. LTC’s portfolio includes Skilled Nursing (SNF) facilities, Assisted Living Communities (ALF), Independent Living Communities (ILF), Memory Care (MC) communities and combinations thereof. . Our primary objective is to build and grow a diversified portfolio that creates and maintains shareholder value while providing our shareholders with ongoing distribution income. To meet this objective, we are looking for properties operated by regional operators, ideally carrying value and portfolio diversification (geographical, operator, typology and investment vehicle). For more information, visitwww.LTCreit.com.

LEADERSHIPBOARD OF DIRECTORS

WENDY SIMPSON CORNELIA CHENG BOYD HENDRICKSON JAMES PIECZYNSKI

DEVRA SHAPIRO TIMOTHY TRICHE, MD

President

Chairman of the ESG Committee Lead Independent Director Chairman of the Appointments and Corporate Governance Committee

Chairman of the Audit Committee Chairman of the Compensation Committee

ANALYSTS

CONNOR SIVERSKY

Berenberg Capital Markets

JUAN SANABRIA

BMO Capital Markets Corp.

DANIEL BERNSTEIN

CapitalOne

TAYO OKUSANYA

Credit Suisse Securities (USA) LLC

AARON HECHT

JMP Securities, LLC

AUSTIN WURSCHMIDT

KeyBanc Capital Markets, Inc.

Mike Carroll

RBC Capital Markets Corporation

RICHARD-ANDERSON

SMBC Nikko Securities

MANAGER

Stifel, Nicolaus & Company, Inc.

Any opinions, estimates or forecasts regarding LTC’s performance made by the analysts listed above do not represent opinions, estimates or forecasts of LTC or its management.

LTC PROPERTIES, INC.

2829 Townsgate Road, Suite 350

Westlake Village, CA 91361 805-981-8655www.LTCreit.com

TRANSFER AGENT

Broadridge Shareholder Services c/o Broadridge Corporate Issuer Solutions

1155 Long Island Avenue Edgewood, NY 11717-8309 ATTN: IWS 866-708-5586

MILLION

$450 $400 $350 $300 $250 $200 $150 $100 $50 $0

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

Year-to-date 2022

ACQUISITIONS

CONTRACTUAL

DATE

# OF PROPERTIESGOODS

TYPE

# OF BEDSLOCATION

OPERATORCONSTRUCTION DATEINITIAL CASH YIELD

PURCHASE

THE PRICE

(1)

2022

4/1

4

SNSF

339 beds

Various cities in Texas

Ignite Medical Resorts

2017-2018

8.00%

$

51,534

(1) The term of the lease is 10 years, with two 5-year renewal options, and contains an option to purchase from the end of the fifth year of the lease until the end of the seventh year of the lease . We expect to receive rent of approximately $1,000 in 3Q22 and 4Q22 and approximately $4,300 in 2023. Rent will increase each year beginning on the third anniversary of the lease by 2.0% to 4.0% in based on the change in the Medicare market basket rate. Additionally, we provided a 10-year working capital loan of up to $2,000, of which $1,867 was financed, at 8.00% for the first year, increasing to 8.25% for the second year, then increasing annually with the rental rate.

MORTGAGES

DECLARED

DATE

# OF PROPERTIES

GOODS

TYPE

# BEDS/ UNITSMATURITYINTERESTLOCATION

OPERATOR

DATE

RATE

N / A(1)

2021

1

OTHER

N / A

St. Peters, Missouri (1)

Oct-2022

$1,780

1

68 units

Ocala, Florida (3)

Pointe Group Care

September-2025

12,530 4,177

9/30 10/1 10/5 12/1

1

13

SNSF ALF/MC ALF/MC/ILF

189 beds

Lafayette, LA (2)

Junction area management

Oct-2024

523 units

NC and SC (4)

ALG Senior Living

Dec-2025

INITIAL

REMAINING

CREATION

INVESTMENT

COMMITMENT

  • $1,780 27,347 16,707 59,250

27,047,300

52,502 6,748

16

189 beds/591 units

$

105,084

$

93,859

$

11,225

  • (1) We entered into a one-year loan agreement secured by a parcel of land for the future development of a post-acute skilled care center to be operated by Ignite Medical Resorts.

  • (2) The loan includes a 12-month extension option and the remaining commitment is for capital improvements. See page 7 for renovations and extensions.

  • (3) The remaining commitment of $4,177 is for the construction of a memory care addition to the property which will be funded at a later date, subject to the satisfaction of various conditions. See page 7 for renovations and extensions.

  • (4) The initial interest rate is 7.25% with an IRR of 8.00%. The remaining commitment includes a capital improvement commitment of $6,098 and a working capital commitment of $650, which has been fully funded. See page 7 for renovations and extensions.

MEZZANINE LOANS

COMMITMENT

#OF

GOODS

#OF

MATURITY

YEAR

PROPERTIES

TYPE

UNITS

LOCATION

OPERATOR

DATE

TO RETURN TO

2021

1

ILF

136 units

Fold, OR

BPM Senior Living

Oct-2024

8.00% (1)

$

4,355

2022

5

ILF/ALF/MC

621 units

Various cities in OR and MT

The life of the springs

May-2027

8.00% (2)

$

25,000

INVESTMENT

BALANCE

  • (1) Loan includes two 12-month extension options. The initial cash rate is 8.00% for the first 18 months, then increases to 10.50% thereafter with an IRR of 10.50%. Our investment represents approximately 8.00% of the total investment.

  • (2) The loan includes two 12-month extension options. The initial cash rate is 8.00% with an IRR of 11.00%. Our investment represents approximately 12.00% of the total investment.

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