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LTC Properties inks joint venture with Tealwood Senior Living and Tukka Properties


–(BUSINESS WIRE)–LTC Properties Inc. (NYSE: LTC), a real estate investment trust that invests in ... and assisted living communities across Minnesota, Iowa, Nebraska and South Dakota. Tukka Properties is a developer based in Madison, Wisconsin, with ...


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LTC Properties, a real estate investment trust that invests in senior housing and health care properties, has agreed to a real estate joint venture with affiliates of Tealwood Senior Living and Tukka PropertiesThe venture will focus on acquiring a land parcel and develop Cedarburg, Wisconsin-based Hamilton House, a $23 million independent living, assisted living and memory care propertyJohn Pantone and Matthew Lund of Walker & Dunlop brokered the deal. Continue reading on PE HUB said: LTC Properties, a real estate investment trust that invests in senior housing and health care properties, has agreed to a real estate joint venture with affiliates of Tealwood Senior Living and Tukka PropertiesThe venture will focus on acquiring a land parcel and develop Cedarburg, Wisconsin-based Hamilton House, a $23 million independent living, assisted living and memory care propertyJohn Pantone and Matthew Lund of Walker & Dunlop brokered the deal. PRESS RELEASE WESTLAKE VILLAGE, Calif.–(BUSINESS WIRE)–LTC Properties Inc(NYSE: LTC), a real estate investment trust that invests in seniors housing and health care properties, today announced it entered into a real estate joint-venture relationship with affiliates of Tealwood Senior Living and developer Tukka Properties to acquire a land parcel and develop Hamilton House, a $23 million, 110-unit independent living, assisted living and memory care campus in Cedarburg, Wisconsin. Construction is slated to start prior to 2018, with a planned opening date of spring 2019Upon completion, the community will be operated by an affiliate of Tealwood Senior Living under a triple-net lease with the joint-ventureThis deal marks a new relationship between Tealwood and LTC, and is LTC’s first joint venture using this model. “We’ve listened to regional operators, understand their need for more creative and flexible financing structures, and are executing accordingly,” said Wendy Simpson, LTC’s Chairman and Chief Executive Officer“We are delighted that Tukka is developing this property and are thrilled to welcome Tealwood Senior Living into our portfolio of operatorsWe are excited about pursuing additional opportunities with them.”

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