LTC Properties Inc. has sold four assisted living properties, the company said today. Westlake Village-based LTC sold the portfolio of properties, which contain a combined 431 units, for $58.5 million to an entity formed by the principals of Sunwest Management Inc. The self-administered real estate investment trust originally acquired the properties in 1998 for $32.7 million. LTC said it would use the proceeds from the sale to pay down debt and fund renovations, expansions and additions to its remaining portfolio of properties. The company specializes in investing in long-term care and other health care related facilities.
