LTC Properties Acquisition of Riverbend Assisted Living

Deal value: $18,500,000

Acquisition of a 72-unit assisted living community in Des Moines, Iowa.

LTC Properties is acquiring Riverbend Assisted Living to expand its Senior Housing Operating Portfolio (SHOP) and capitalize on the growing demand for modern assisted living in attractive markets like Des Moines, Iowa. The investment reflects a strategic shift away from older skilled nursing assets toward stabilized, private-pay senior housing, aiming for higher yields and portfolio diversification. The timing is driven by demographic trends, occupancy gains, and LTC’s broader initiative to double its SHOP segment in 2025.