LTC Properties is rapidly reshaping its portfolio around senior housing operating assets, with its SHOP segment expected to account for 40% of net operating income by the end of 2026 as the healthcare REIT continues an aggressive acquisition programme.
The US REIT announced on 1 June that it had acquired a 104-unit assisted living and memory care community in Phoenix, Arizona for USD54 million.
The property will continue to be managed by MorningStar Senior Living, which becomes LTC's eleventh SHOP operating partner and the ninth new operator added since the REIT launched its SHOP strategy in May 2025.
While the acquisition itself is relatively modest in size, it highlights the speed at which LTC has transformed its portfolio over the past year.
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