LTC Properties operator Genesis Healthcare files for Chapter 11 bankruptcy

LTC PROPERTIES INC

Genesis filed for Chapter 11 bankruptcy on July 9, 2025; it leases 6 skilled nursing centers (782 beds) from LTC.
Annualized revenue from Genesis is $8.4M (4.5% of LTC's total); annualized contractual cash revenue is $9.5M (5.1%).
Genesis exercised a 5-year lease extension on June 3, 2025, extending the term to April 30, 2031.
Rent has been paid through July 2025; LTC holds a $4.7M letter of credit as security under the master lease.

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