SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE

12 Months Ended

Dec. 31, 2023

SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE

SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE

LTC PROPERTIES, INC.

SCHEDULE IV

MORTGAGE LOANS RECEIVABLE ON REAL ESTATE

(in thousands)

														Principal
														Amount of
												Carrying		Loans
								Current				Amount of		Subject to
	(Unaudited)							Monthly		Face		Mortgages		Delinquent
	Number of				Final	Balloon		Debt		Amount of		December 31,		Principal or
State	Properties		Units/Beds (1)	Interest Rate (2)	Maturity Date	Amount (3)		Service		Mortgages		2023		Interest
FL	1		112	7.80%	2025	$	16,706	$	109	$	16,706	$	16,539	$	—
FL	2		92	8.80%	2025		4,000		30		4,000		3,960		—
GA	1		203	7.50%	2024		51,111		324		51,111		50,600		—
IL	1		150	8.80%	2028		16,500		122		16,500		16,335		—
LA	1		189	7.50%	2024		29,346		186		29,346		29,053		—
MI	15		1,875	10.80%	2043		173,487		1,656		190,214		182,134		—
MI	4		480	9.80%	2045		36,650		326		40,480		39,550		—
MI	2		201	10.10%	2045		19,700		165		19,750		19,503		—
MI	1		146	10.30%	2045		14,325		127		15,000		14,702		—
MO	—		—	7.50%	2024		1,999		13		1,999		1,979		—
NC	12	(4)	478	7.30%	2025		53,385		327		53,385		52,851		—
NC	4		217	7.30%	2026		34,043		209		34,043		33,703		—
NC	1		45	7.30%	2025		10,750		66		10,750		10,643		—
NC	—		—	7.30%	2026		826		5		826		818		—
SC	1	(4)	45	7.30%	2025		4,946		31		4,946		4,896		—
	46	(5)	4,233			$	467,774	$	3,696	$	489,056	$	477,266	$	—

(1) This number is based upon unit/bed counts shown on operating licenses provided to us by lessee/borrowers or units/beds as stipulated by lease/mortgage documents. We have found during the years that these numbers often differ, usually not materially, from units/beds in operation at any point in time. The differences are caused by such things as operators converting a patient/resident room for alternative uses, such as offices or storage, or converting a multi-patient room/unit into a single patient room/unit. We monitor our properties on a routine basis through site visits and reviews of current licenses. In an instance where such change would cause a de-licensing of beds or in our opinion impact the value of the property, we would take action against the borrower to preserve the value of the property/collateral.

(2) Represents current stated interest rate. Generally, the loans have principal and interest payable at varying amounts over the life to maturity with annual interest adjustments through specified fixed rate increases effective either on the first anniversary or calendar year of the loan.

(3) Balloon payment is due upon maturity.

(4) Represents a single mortgage loan secured by 13 ALFs. The mortgage loan was allocated by state for reporting purposes only.

(5) Includes 14 first-lien mortgage loans as follows:

Number of Loans	Original loan amounts
2		$ 500 - $2,000
0		$2,001 - $3,000
1		$3,001 - $4,000
0		$4,001 - $5,000
0		$5,001 - $6,000
0		$6,001 - $7,000
11		$7,001 +

Mortgage loans receivable activity for the years ended December 31, 2023, 2022 and 2021 is as follows:

Balance— December 31, 2020	$	257,251
New mortgage loans		88,415
Other additions		540
Application of interest reserve		298
Amortization of mortgage premium		(6)
Collections of principal		(1,175)
Foreclosures		—
Loan loss reserve		(881)
Other deductions		—
Balance— December 31, 2021		344,442
New mortgage loans		31,965
Other additions		8,767
Application of interest reserve		6,192
Amortization of mortgage premium		(6)
Collections of principal		(1,175)
Foreclosures		—
Loan loss reserve		(457)
Other deductions		—
Balance— December 31, 2022		389,728
New mortgage loans		92,111
Other additions		4,947
Application of interest reserve		1,722
Amortization of mortgage premium		(7)
Collections of principal		(10,351)
Foreclosures		—
Loan loss reserve		(884)
Other deductions		—
Balance— December 31, 2023	$	477,266