LTC Properties gets additional $30 million revolver commitment

By Sara Rosenberg

New York, March 17 - LTC Properties Inc. increased on Wednesday its unsecured revolving credit facility due July 17, 2011 by $30 million to $110 million, according to an 8-K filed with the Securities and Exchange Commission.

Bank of America provided the new $30 million commitment, which carries the same pricing as the existing debt.

Bank of Montreal is the administrative agent on the deal.

LTC is a Westlake Village, Calif.-based self-administered real estate investment trust that primarily invests in long-term care and other health care related facilities through mortgage loans, facility lease transactions and other investments.

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