LTC Properties’ sale of skilled nursing facilities operated by Preferred Care should be finalized in the second quarter of 2020, the company said.
The real estate investment trust closed the sale of one of the 23 total properties, while 20 were under contract and expected to close before the end of the first quarter, Clint Malin, executive vice president and chief investment officer, said during an earnings call in February.
“Net proceeds for the properties currently under contract is expected to be approximately $59 million,” he explained.
