LTC Properties, a REIT investing in seniors housing and care, has acquired a post-acute skilled nursing center plus a land parcel to develop a similar product in the Kansas City metro area. The centers will be operated by Ignite Medical Resorts (Ignite), an operator new to LTC.
Ignite Medical Resort, Kansas City
“These acquisitions represent our positive outlook on the next generation of post-acute skilled nursing,” said Wendy Simpson, LTC’s CEO and President. “We are optimistic about our new partnership with Ignite and their innovative approach to rapid rehabilitation in a resort-style setting. We are also very pleased to continue working with Avenue Development, with whom we have a long-standing relationship and are thankful they introduced us to Ignite.”
It acquired a 90-bed post-acute skilled nursing center built in 2018 in Kansas City, Missouri for $19.5 million.
LTC also acquired a parcel of land and committed to develop a 90-bed post-acute skilled nursing center in Independence, Missouri. The commitment totals $17.4 million.
