AURORA, CO—LTC Properties, Inc. of WestlakeVillage, CA, has completed and opened a new 48-unit memory carecommunity in Aurora, CO, serving the greater Denver area.
The property is leased to affiliates of Anthem MemoryCare under an existing 10-year master lease. Developmentcosts for the project were approximately $9.6 million.
The new community is the third projectcompleted in partnership with Anthem in the Denver metro area. Afourth project, also in the region, is expected to open in thefirst quarter of 2015. Additionally, through an exclusivedevelopment pipeline agreement with Anthem, LTC is financingAnthem's expansion into the Chicago marketplace, recently breakingground on a project in Burr Ridge, IL that isexpected to open in the fourth quarter of 2015.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
