Robin Handel's questions to LTC Properties Inc (LTC) leadership • Q3 2024
Question
Robin Handel, on behalf of Juan Sanabria, asked for the rationale behind tenants' interest in converting to a RIDEA structure, inquired about expected loan repayments for the remainder of 2024 and 2025, and questioned the use of proceeds from the ATM program.
Answer
Co-President and CFO Pamela Shelley-Kessler clarified that tenants in the transition bucket with shorter-term leases are candidates for RIDEA conversion. She also stated no significant repayments are expected for the rest of 2024, with about $30 million scheduled for 2025. She confirmed the ATM proceeds were used for deleveraging, which is now complete. Co-President and CIO Clint B. Malin added that a potential ALG purchase option exercise could add to 2025 maturities.