LTC Properties has secured a new $200 million four-year unsecured credit facility. The consortium of banks providing the loan includes Bank of Montreal, BMO Capital Markets, KeyBanc Capital Markets, Royal Bank of Canada, RBC Capital Markets, Wells Fargo Bank, National Association and Wells Fargo Securities.

The real-estate investment trust has about $82.5 million outstanding under the current unsecured credit agreement due in July 2011. LTC may also issue 3.5 million shares of its common stock to redeem preferred stock and pay back debt under its unsecured line of credit, adds The Wall Street Journal.

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