CONSOLIDATED BALANCE SHEETS (USD $) In Thousands	Jun. 30, 2011		Dec. 31, 2010
Real estate investments:
Land	$ 48,230		$ 43,031
Buildings and improvements	625,945		567,017
Accumulated depreciation and amortization	(167,537)		(158,204)
Net operating real estate property	506,638		451,844
Properties held-for-sale, net of accumulated depreciation and amortization: 2011 - $613; 2010 - $505	5,018		5,113
Net real estate property	511,656		456,957
Mortgage loans receivable, net of allowance for doubtful accounts: 2011 - $945; 2010 - $981	55,410		59,026
Real estate investments, net	567,066		515,983
Other assets:
Cash and cash equivalents	6,395		6,903
Debt issue costs, net	2,421		743
Interest receivable	1,535		1,571
Straight-line rent receivable, net of allowance for doubtful accounts: 2011 - $656; 2010 - $634	21,757	[1]	20,090	[1]
Prepaid expenses and other assets	7,772		8,162
Other assets related to properties held-for-sale, net of allowance for doubtful accounts: 2011 - $839; 2010 - $839	51		51
Notes receivable	945		1,283
Marketable securities	6,481	[2]	6,478	[2]
Total assets	614,423		561,264
LIABILITIES
Bank borrowings	70,000		37,700
Senior unsecured notes	50,000		50,000
Bonds payable	3,200		3,730
Accrued interest	858		675
Earn-out liabilities	10,018
Accrued expenses and other liabilities	10,180		9,737
Accrued expenses and other liabilities related to properties held-for-sale	62		132
Distributions payable			1,768
Total liabilities	144,318		103,742
Stockholders' equity:
Preferred stock $0.01 par value; 15,000 shares authorized; shares issued and outstanding: 2011 - 2,000; 2010 - 5,536	38,500		126,913
Common stock: $0.01 par value; 45,000 shares authorized; shares issued and outstanding: 2011 - 30,341; 2010 - 26,345	303		263
Capital in excess of par value	506,513		398,599
Cumulative net income	647,811		623,491
Other	234		264
Cumulative distributions	(725,218)		(693,970)
Total LTC Properties, Inc. stockholders' equity	468,143		455,560
Non-controlling interests	1,962		1,962
Total equity	470,105		457,522
Total liabilities and equity	$ 614,423		$ 561,264

[1] On June 30, 2011 and December 31, 2010, we had $2,945 and $2,822 respectively, in straight-line rent receivable from a lessee that qualifies as a related party because the lessee's Chief Executive Officer is on our Board of Directors. See Note 9. Transactions with Related Party for further discussion.

[2] At June 30, 2011 and December 31, 2010, we had a $6,500 face value investment in marketable securities issued by an entity that qualifies as a related party because the entity's Chief Executive Officer is on our Board of Directors. See Note 9. Transactions with Related Party for further discussion.