LTC Properties, Inc. increased its Board of Directors from six to eight members on September 22, 2026, by electing Co-Presidents and Co-CEOs Pam Kessler and Clint Malin. The company, a real estate investment trust specializing in seniors housing and health care properties, announced the move on September 25, 2026. Five of the eight directors are independent.
Kessler and Malin have served as Co-Presidents since May 2020 and Co-CEOs since December 2024. Both executives have spent more than two decades at LTC. The company stated that they played key roles in building and scaling its SHOP platform, which helped reposition the firm for future growth.
Wendy Simpson, Executive Chairman of LTC, said the new directors have helped reshape the company by combining strategic vision with disciplined execution. Simpson noted that Kessler and Malin were instrumental in leading the transformation through the SHOP platform to capitalize on both external and internal growth profiles. She described their experience and perspective as invaluable additions to the Board.
LTC primarily invests through SHOP arrangements, triple-net leases, and joint ventures. The company’s portfolio consists of 180 properties across the United States. Based on gross real estate investments, 77% of the company’s assets are seniors housing communities, while the remainder are skilled nursing centers.
The announcement includes forward-looking statements regarding the company’s expectations for expanding its SHOP platform and strengthening long-term growth opportunities. The company identified several risks that could cause actual results to differ from these expectations, including operational and legal liabilities under the new SHOP segment and dependence on third-party independent operators to manage communities. Other cited risks include government regulation of the health care industry, changes in laws limiting REIT investments in the sector, and health care cost containment measures such as reductions in reimbursement from Medicare and Medicaid.
Additional factors listed in the release include regulatory approvals for facility operations, compliance with laws governing health care facilities, and the adequacy of insurance coverage maintained by operators. The company also noted risks related to reliance on a few major operators, the ability to find suitable replacements or renew leases on favorable terms, and the impact of inflation. Financial risks cited include operator difficulties, mortgage loan collateral sufficiency, real estate impairment, illiquidity of investments, construction project completion, and the ability to invest cash proceeds for health care properties.
The release warns that a failure to qualify as a REIT, limited access to capital, or an inability to maintain or increase dividends could also affect results. For a detailed discussion of these risk factors, the company directed investors to its Annual Report on Form 10-K for the fiscal year ended December 31, 2025, subsequent Quarterly Reports on Form 10-Q, and other publicly available filings with the Securities and Exchange Commission.