<SEC-DOCUMENT>0001104659-13-035323.txt : 20130430
<SEC-HEADER>0001104659-13-035323.hdr.sgml : 20130430
<ACCEPTANCE-DATETIME>20130430170343
ACCESSION NUMBER:		0001104659-13-035323
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		11
CONFORMED PERIOD OF REPORT:	20130331
FILED AS OF DATE:		20130430
DATE AS OF CHANGE:		20130430

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LTC PROPERTIES INC
		CENTRAL INDEX KEY:			0000887905
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				710720518
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11314
		FILM NUMBER:		13798679

	BUSINESS ADDRESS:	
		STREET 1:		2829 TOWNSGATE ROAD
		STREET 2:		SUITE 350
		CITY:			WESTLAKE VILLIAGE
		STATE:			CA
		ZIP:			91361
		BUSINESS PHONE:		805-981-8655

	MAIL ADDRESS:	
		STREET 1:		2829 TOWNSGATE ROAD
		STREET 2:		SUITE 350
		CITY:			WESTLAKE VILLIAGE
		STATE:			CA
		ZIP:			91361
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-Q
<SEQUENCE>1
<FILENAME>a13-7055_110q.htm
<DESCRIPTION>10-Q
<TEXT>


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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="4" face="Times New Roman" style="font-size:14.0pt;">UNITED STATES</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:16.0pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="4" face="Times New Roman" style="font-size:14.0pt;">Washington, D.C.&#160; 20549</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">__________</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="5" face="Times New Roman" style="font-size:20.0pt;">FORM 10-Q</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:31.5pt;"><font size="1" face="Times New Roman" style="font-size:7.5pt;">&nbsp;</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:7.5pt;">(Mark One)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Wingdings" style="font-size:12.0pt;">&#253;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">QUARTERLY REPORT   PURSUANT TO SECTION 13 OR 15(d)<br>   OF THE SECURITIES EXCHANGE ACT OF 1934</font></p>    </td>   </tr>  </table>
<p style="line-height:7.0pt;margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">For the quarterly period ended March 31, 2013</font></p>
<p style="line-height:7.0pt;margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">OR</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Wingdings" style="font-size:12.0pt;">o</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">TRANSITION REPORT   PURSUANT TO SECTION 13 OR 15(d)<br>   OF THE SECURITIES EXCHANGE ACT OF 1934</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">For the Transition period from ____ to ____</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Commission file number 1-11314</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:20.0pt;font-weight:bold;">LTC PROPERTIES, INC.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(Exact name of Registrant as specified in its charter)</font></p>
<p style="line-height:7.0pt;margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Maryland</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">71-0720518</font></p>    </td>   </tr>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(State or other   jurisdiction of</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(I.R.S. Employer</font></p>    </td>   </tr>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">incorporation or   organization)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Identification   No.)</font></p>    </td>   </tr>  </table>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2829 Townsgate Road, Suite 350</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Westlake Village, California&#160; 91361</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of principal executive offices, including zip code)</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(805) 981-8655</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Registrant&#146;s telephone number, including area code)</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Indicate by check mark whether registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.&#160;&#160; Yes&#160; </font><font size="2" face="Wingdings" style="font-size:10.0pt;">&#254;</font><font size="2" style="font-size:10.0pt;">&#160; No&#160; </font><font size="2" face="Wingdings" style="font-size:10.0pt;">&#168;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (&#167; 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).&#160;&#160; Yes&#160; </font><font size="2" face="Wingdings" style="font-size:10.0pt;">&#254;</font><font size="2" style="font-size:10.0pt;">&#160; No&#160; </font><font size="2" face="Wingdings" style="font-size:10.0pt;">&#168;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer a non-accelerated filer, or a smaller reporting company.&#160; See definitions of &#147;large accelerated filer,&#148; &#147;accelerated filer&#148; and &#147;smaller reporting company&#148; in Rule 12b-2 of the Exchange Act.&#160; </font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Large accelerated filer </font><font size="1" face="Wingdings" style="font-size:9.0pt;">&#254;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Accelerated filer </font><font size="1" face="Wingdings" style="font-size:9.0pt;">&#168;</font></p>    </td>
<td width="26%" height="14" valign="top" style="border:none;height:.15in;padding:0in .5pt 0in .5pt;width:26.56%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Non-accelerated   filer </font><font size="1" face="Wingdings" style="font-size:9.0pt;">&#168;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Smaller reporting   company </font><font size="1" face="Wingdings" style="font-size:9.0pt;">&#168;</font></p>    </td>   </tr>
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<td width="25%" height="14" valign="top" style="border:none;height:.15in;padding:0in .5pt 0in .5pt;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="21%" height="14" valign="top" style="border:none;height:.15in;padding:0in .5pt 0in .5pt;width:21.9%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="26%" height="14" valign="top" style="border:none;height:.15in;padding:0in .5pt 0in .5pt;width:26.56%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">(Do not check if   a</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="25%" height="14" valign="top" style="border:none;height:.15in;padding:0in .5pt 0in .5pt;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="21%" height="14" valign="top" style="border:none;height:.15in;padding:0in .5pt 0in .5pt;width:21.9%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="26%" height="14" valign="top" style="border:none;height:.15in;padding:0in .5pt 0in .5pt;width:26.56%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">smaller reporting   company)</font></p>    </td>
<td width="26%" height="14" valign="top" style="border:none;height:.15in;padding:0in .5pt 0in .5pt;width:26.56%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Indicate by check mark whether the registrant is a shell company (as defined in Rule&nbsp;12b-2 of the Exchange Act).&#160;&#160; Yes&#160; </font><font size="2" face="Wingdings" style="font-size:10.0pt;">&#168;</font><font size="2" style="font-size:10.0pt;">&#160; No&#160; </font><font size="2" face="Wingdings" style="font-size:10.0pt;">&#254;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The number of shares of common stock outstanding on April&nbsp;23, 2013 was 30,712,510.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:4.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">LTC PROPERTIES,&nbsp;INC.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">FORM&nbsp;10-Q</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">March&nbsp;31, 2013</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">IN<a name="TableOfContents"></a>DEX</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">PART&nbsp;I -- Financial   Information</font></b></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><u><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Page</font></u></b></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Item 1. &nbsp;Financial Statements</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 60.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;"><a href="#ConsolidatedBalanceSheets_000307" title="Click to goto ">Consolidated   Balance Sheets</a></font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">3</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 60.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;"><a href="#ConsolidatedStatementsOfIncome_000324" title="Click to goto ">Consolidated Statements of Income</a></font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">4</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 60.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;"><a href="#ConsolidatedStatementsOfComprehen_000327" title="Click to goto ">Consolidated Statements of Comprehensive Income</a></font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">5</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 60.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;"><a href="#ConsolidatedStatementsOfCashFlows_000329" title="Click to goto ">Consolidated Statements of Cash Flows</a></font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">6</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 60.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;"><a href="#NotesToConsolidatedFinancialState_224609" title="Click to goto ">Notes to Consolidated Financial Statements</a></font></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">7</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.44%;">
<p style="margin:0in 0in .0001pt .65in;text-indent:-.65in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;"><a href="#Managements_000214" title="Click to goto ">Item 2. &nbsp;Management&#146;s Discussion and<br>   Analysis of Financial Condition and Results of Operations</a></font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">19</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;"><a href="#Item3_QuantitativeAndQualitativeD_001423" title="Click to goto ">Item 3.&nbsp;   Quantitative and Qualitative Disclosures about Market Risk</a></font></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">31</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;"><a href="#Item4_ControlsAndProcedures_001425" title="Click to goto ">Item 4.&nbsp;   Controls and Procedures</a></font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">31</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;"><a href="#Partii_001500" title="Click to goto ">PART&nbsp;II --   Other Information</a></font></b></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;"><a href="#Item1_LegalProceedings_001502" title="Click to goto ">Item   1.&nbsp; Legal Proceedings</a></font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">32</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;"><a href="#Item1a_RiskFactors_001503" title="Click to goto ">Item   1A.&nbsp; Risk Factors</a></font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">32</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;"><a href="#Item2_UnregisteredSalesOfEquitySe_001503" title="Click to goto ">Item 2.&nbsp;   Unregistered Sales of Equity Securities and Use of Proceeds</a></font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">32</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;"><a href="#Item6_Exhibits_001506" title="Click to goto ">Item   6.&nbsp; Exhibits</a></font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">33</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">2<a name="PB_2_181756_7056"></a></font></p>
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<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">LTC PROPERTIES,&nbsp;INC.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">CONSOLIDATED BALANCE SHEETS</font></b><a name="ConsolidatedBalanceSheets_000307"></a></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">(Amounts in thousands)</font></i></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">March&nbsp;31,&nbsp;2013</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">December&nbsp;31,&nbsp;2012</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ASSETS</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">(unaudited)</font></i></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">(audited)</font></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Real estate investments:</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Land</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$&nbsp;&nbsp;75,407</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$&nbsp;&nbsp;75,407</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Buildings and improvements</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">831,175</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">824,688</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accumulated depreciation and amortization</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 18.7pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(204,646)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 18.7pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(198,548)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net real estate property</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">701,936</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">701,547</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mortgage loans receivable, net of allowance for   doubtful accounts: 2013 &#151; $401; 2012 &#151; $782</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">39,741</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">39,299</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Real estate investments, net</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">741,677</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">740,846</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:5.0pt 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Other assets:</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:5.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:5.0pt .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:5.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:5.0pt .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:5.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cash and cash equivalents</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9,621</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7,191</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Debt issue costs, net</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,854</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,040</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest receivable</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">802</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">789</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Straight-line rent receivable,</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">(1)&nbsp;</font><font size="2" style="font-size:10.0pt;">net of allowance for   doubtful accounts: 2013 &#151; $1,567; 2012 &#151; $1,557</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">27,925</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26,998</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Prepaid expenses and other assets</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,656</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7,548</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notes receivable </font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,129</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,180</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total assets</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$792,664</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$789,592</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:3.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">LIABILITIES</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:3.0pt .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:3.0pt .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Bank borrowings </font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$117,500</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$115,500</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Senior unsecured notes</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">185,800</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">185,800</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Bonds payable</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,035</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,635</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accrued interest</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,285</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,279</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Earn-out liabilities</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,854</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,744</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accrued expenses and other liabilities</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11,379</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12,526</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total liabilities</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">325,853</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">326,484</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:3.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">EQUITY</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:3.0pt .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:3.0pt .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stockholders&#146; equity:</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preferred stock $0.01 par value; 15,000 shares   authorized;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">shares issued and outstanding: 2013 &#151; 2,000; 2012   &#151; 2,000</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">38,500</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">38,500</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Common stock: $0.01 par value; 60,000 shares   authorized; shares issued and outstanding: 2013 &#151;30,713; 2012 &#151; 30,544</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">307</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">305</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Capital in excess of par value</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">516,011</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">510,236</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cumulative net income</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">737,009</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">724,033</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Other</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">143</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">152</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cumulative distributions</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 18.7pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(825,159)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 18.7pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(810,125)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total LTC Properties,&nbsp;Inc. stockholders&#146;   equity</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">466,811</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">463,101</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Non-controlling interests</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total equity</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">466,811</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">463,108</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total liabilities and equity </font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$792,664</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$789,592</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 31.7pt;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">_______________</font></p>
<p style="margin:0in 0in .0001pt 31.7pt;text-indent:-.3in;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:7.0pt;">On March&nbsp;31, 2013 and December&nbsp;31, 2012, we had $3,203 and $3,191 respectively, in straight-line rent receivable from a lessee that qualifies as a related party because the lessee&#146;s Chief Executive Officer is on our Board of Directors.&#160; See <i>Note 9. Transactions with Related Party</i> for further discussion.</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><i><font size="1" face="Times New Roman" style="font-size:9.0pt;font-style:italic;">See accompanying notes.</font></i></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">3<a name="PB_3_202536_7056"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
</div>
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<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">LTC PROPERTIES,&nbsp;INC.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">CONSOLIDATED STATEMENTS OF INCOME</font></b><a name="ConsolidatedStatementsOfIncome_000324"></a></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">(Amounts in thousands, except per share, unaudited)</font></i></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">&nbsp;</font></i></p>
<table border="0" cellspacing="0" cellpadding="0" width="73%" style="border-collapse:collapse;margin-left:1.0in;width:73.34%;">
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="36%" colspan="3" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:36.14%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Three&nbsp;Months&nbsp;Ended<br>   March&nbsp;31,</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.36%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2013</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.38%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2012</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Revenues:</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rental income </font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">(1)</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$24,511</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$20,872</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest income from mortgage loans </font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,059</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,532</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest and other income </font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">(2)</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">93</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">236</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total revenues</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">25,663</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22,640</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Expenses:</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest expense</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,133</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,033</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Depreciation and amortization</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,136</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5,167</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">General and administrative expenses</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,418</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,524</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total expenses</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12,687</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9,724</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Income from continuing operations</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12,976</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12,916</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Discontinued operations:</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Gain on sale of assets, net</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net income from discontinued operations</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net income</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12,976</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12,932</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Income allocated to non-controlling interests</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in 11.5pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(11)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net income attributable to LTC   Properties,&nbsp;Inc.</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12,976</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12,921</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Income allocated to participating securities</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in 11.5pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(98)</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in 11.5pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(94)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Income allocated to preferred stockholders</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in 11.5pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(818)</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in 11.5pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(818)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net income available to common stockholders</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$12,060</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$12,009</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Basic earnings per common share </font></u></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Continuing operations</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0.40</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0.40</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Discontinued operations</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0.00</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0.00</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net income available to common stockholders</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0.40</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0.40</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Diluted earnings per common share</font></u></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Continuing operations</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0.40</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0.40</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Discontinued operations</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0.00</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0.00</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net income available to common stockholders</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0.40</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0.40</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 5.75pt;text-indent:-5.75pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Weighted average shares used to calculate earnings   per common share</font></u></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Basic </font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">30,365</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">30,189</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="bottom" style="padding:0in 0in 0in 0in;width:59.1%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Diluted</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:16.36%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">30,399</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:16.38%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">30,234</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="1" width="15%" noshade color="black" align="left"></div>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:7.0pt;">During the three months ended March&nbsp;31, 2013 and 2012, we received $1,113 and $1,086, respectively, in rental income and recorded $12 and $39, respectively, in straight-line rental income from a lessee that qualifies as a related party.&#160; The lessee&#146;s Chief Executive Officer is on our Board of Directors.&#160; See <i>Note 9. Transactions with Related Party</i> for further discussion.</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">(2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:7.0pt;">During the three months ended March&nbsp;31, 2013 and 2012, we recognized $0 and $180 of interest income from an entity that qualifies as a related party because the entity&#146;s Chief Executive Officer is on our Board of Directors.&#160; See <i>Note 9. Transactions with Related Party</i> for further discussion.</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">NOTE: Computations of per share amounts from continuing operations, discontinued operations and net income are made independently.&#160; Therefore, the sum of per share amounts from continuing operations and discontinued operations may not agree with the per share amounts from net income available to common stockholders.</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><i><font size="1" face="Times New Roman" style="font-size:8.0pt;font-style:italic;">See accompanying notes.</font></i></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">4<a name="PB_4_210453_7056"></a></font></p>
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<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">LTC PROPERTIES,&nbsp;INC.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME</font></b><a name="ConsolidatedStatementsOfComprehen_000327"></a></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">(Amounts in thousands, unaudited)</font></i></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">&nbsp;</font></i></p>
<table border="0" cellspacing="0" cellpadding="0" width="80%" style="border-collapse:collapse;margin-left:.75in;width:80.0%;">
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.48%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" colspan="3" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:33.12%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Three&nbsp;Months&nbsp;Ended<br>   March&nbsp;31,</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.26%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.48%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2013</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2012</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.26%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.48%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net income</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$12,976</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$12,932</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.26%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.48%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reclassification adjustment</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in 11.5pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(9)</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in 11.5pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(13)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.26%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.48%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Comprehensive income</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$12,967</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$12,919</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.26%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.48%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Comprehensive income allocated to non-controlling   interests</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in 11.5pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(11)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.26%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.48%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Comprehensive income attributed to LTC   Properties,&nbsp;Inc.</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$12,967</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$12,908</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.26%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><i><font size="1" face="Times New Roman" style="font-size:8.0pt;font-style:italic;">See accompanying notes.</font></i></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">5<a name="PB_5_211020_5335"></a></font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">LTC PROPERTIES,&nbsp;INC.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">CONSOLIDATED STATEMENTS OF CASH FLOWS</font></b><a name="ConsolidatedStatementsOfCashFlows_000329"></a></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">(Amounts in thousands, unaudited)</font></i></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="34%" colspan="3" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:34.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Three&nbsp;Months&nbsp;Ended&nbsp;March&nbsp;31,</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2013</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2012</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">OPERATING ACTIVITIES:</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net income </font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$12,976</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$12,932</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Adjustments to reconcile net income to net cash   provided by operating activities:</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Depreciation and amortization </font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,136</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5,167</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stock-based compensation expense</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">985</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">452</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Gain on sale of assets, net</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(16)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Straight-line rental income </font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">(1)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(937)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(647)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Provision for doubtful accounts </font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Non-cash interest related to earn-out liabilities</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">110</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">110</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Other non-cash items, net</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">178</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">325</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Decrease) increase in accrued interest payable</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(994)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Increase) decrease in interest receivable</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(24)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">172</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net change in other assets and liabilities</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1,061)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1,681)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net cash provided by operating activities</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17,384</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16,838</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:7.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">INVESTING ACTIVITIES:</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:7.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:7.0pt .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:7.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:7.0pt .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:7.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Investment in real estate properties, net</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(18,600)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Investment in real estate properties under   development</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3,952)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Investment in real estate capital improvements </font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2,358)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(202)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Proceeds from sale of real estate investments, net</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,248</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Advances under mortgage loans receivable</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(910)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Principal payments received on mortgage loans   receivable</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">462</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">718</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Advances under notes receivable</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(63)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1,034)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Principal payments received on notes receivable</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">114</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">191</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net cash used in investing activities</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(6,707)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(17,679)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:8.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">FINANCING ACTIVITIES:</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:8.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:8.0pt .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:8.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:8.0pt .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:8.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Bank borrowings</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,000</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17,000</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Principal payments on bonds payable</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(600)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(565)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Proceeds from common stock offering</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4,895</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stock option exercises</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">523</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">151</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Distributions paid to stockholders</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(15,035)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(14,044)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Redemption of non-controlling interests</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2,764)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Distributions paid to non-controlling interests</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(7)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(48)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Other </font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(23)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net cash used in financing activities</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(8,247)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(270)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:7.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Increase (decrease) in cash and cash equivalents</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:7.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:7.0pt .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,430</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:7.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:7.0pt 25.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1,111)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:7.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cash and cash equivalents, beginning of period</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7,191</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4,408</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cash and cash equivalents, end of period</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$&nbsp;&nbsp;9,621</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$&nbsp;&nbsp;&nbsp;3,297</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:7.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SUPPLEMENTAL CASH FLOW INFORMATION:</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:7.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:7.0pt .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:7.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:7.0pt .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:7.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest paid</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$&nbsp;&nbsp;4,118</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
<p align="right" style="margin:0in .4in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$&nbsp;&nbsp;1,855</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt .25in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt .25in;"><hr size="1" width="11%" noshade color="black" align="left"></div>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:8.0pt;">During the three months ended March&nbsp;31, 2013 and 2012, we recorded $12 and $39, respectively, in straight-line rental income from a lessee that qualifies as a related party.&#160; The lessee&#146;s Chief Executive Officer is on our Board of Directors.&#160; See <i>Note 9. Transactions with Related Party</i> for further discussion.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><i><font size="1" face="Times New Roman" style="font-size:9.0pt;font-style:italic;">See accompanying notes.</font></i></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">6<a name="PB_6_212153_5796"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
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<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">LTC PROPERTIES,&nbsp;INC.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</font></b><a name="NotesToConsolidatedFinancialState_224609"></a></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">(Unaudited)</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">1.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:11.0pt;font-weight:bold;">General</font></b></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">LTC Properties,&nbsp;Inc., a health care real estate investment trust (or REIT), was incorporated on May&nbsp;12,&nbsp;1992 in the State of Maryland and commenced operations on August&nbsp;25, 1992.&#160; We invest primarily in senior housing and long term care properties through acquisitions, development, mortgage loans and other investments. We conduct and manage our business as one operating segment, rather than multiple operating segments, for internal reporting and internal decision making purposes.&#160;&#160; Our primary objectives are to create, sustain and enhance stockholder equity value and provide current income for distribution to stockholders through real estate investments in senior housing and long term care properties managed by experienced operators.&#160; Our primary senior housing and long term care property types include skilled nursing properties (or SNF), assisted living properties (or ALF), independent living properties (or ILF), memory care properties (or MC) and combinations thereof. To meet these objectives, we attempt to invest in properties that provide opportunity for additional value and current returns to our stockholders and diversify our investment portfolio by geographic location, operator, property type and form of investment.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">We have prepared consolidated financial statements included herein without audit and in the opinion of management have included all adjustments necessary for a fair presentation of the results of operations for the three months ended March&nbsp;31, 2013 and 2012 pursuant to the rules&nbsp;and regulations of the Securities and Exchange Commission (or SEC).&#160; Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (or GAAP) have been condensed or omitted pursuant to rules&nbsp;and regulations governing the presentation of interim financial statements.&#160; The accompanying consolidated financial statements include the accounts of our company, its wholly-owned subsidiaries.&#160; All significant intercompany accounts and transactions have been eliminated in consolidation.&#160; The results of operations for the three months ended March&nbsp;31, 2013 and 2012 are not necessarily indicative of the results for a full year.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Certain reclassifications have been made to the prior period consolidated financial statements to conform to the current period presentation, including changes as a result of the application of accounting guidance for properties disposed or classified as held-for-sale. During the three months ended March&nbsp;31, 2012, we sold a 140-bed skilled nursing property located in Texas for $1,248,000. See <i>Note 2. Real Estate Investments</i> for further discussion. Additionally, we reclassified a 140-unit independent living property located in Texas from held-for-sale to held-for-use. The expenses, which were not recognized during the held-for-sale period, were recognized at the date of reclassification during the third quarter of 2012. This resulted in an increase of depreciation expense of $285,000.&#160; Due to the market conditions, the timing of the ultimate disposal of this property was uncertain. These adjustments are normal and recurring in nature.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">No provision has been made for federal or state income taxes.&#160; Our company qualifies as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended.&#160; As such, we generally are not taxed on income that is distributed to our stockholders.</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">7<a name="PB_7_214739_7056"></a></font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">LTC PROPERTIES,&nbsp;INC.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS </font></b><b><font size="1" face="Times New Roman" style="font-size:9.0pt;font-weight:bold;">CONTINUED</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">(Unaudited)</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">2.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Real Estate Investments</font></b></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Assisted living properties, independent living properties, memory care properties, and combinations thereof are included in the assisted living property type. Range of care properties (or ROC) property type consists of properties providing skilled nursing and any combination of assisted living, independent living and/or memory care services.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Any reference to the number of properties, number of schools, number of units, number of beds, and yield on investments in real estate are unaudited and outside the scope of our independent registered public accounting firm&#146;s review of our consolidated financial statements in accordance with the standards of the Public Company Accounting Oversight Board.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">Owned Properties.</font></i><font size="2" style="font-size:11.0pt;"> The following table summarizes our investments in owned properties at March&nbsp;31, 2013 <i>(dollar amounts in thousands)</i>:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Number</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Number&nbsp;of</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Investment<br>   per<br>   Bed/Unit</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Type&nbsp;of&nbsp;Property</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Gross<br>   Investments</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Percentage&nbsp;of<br>   Investments</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">of<br>   Properties </font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">(1)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SNF<br>   Beds</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ALF<br>   Units</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="24%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:24.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Skilled Nursing</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$448,010</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:11.5%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">49.4%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">73</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8,435</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$53.11</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="24%" valign="bottom" style="padding:0in 0in 0in 0in;width:24.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Assisted Living </font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">379,874</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.5%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">41.9%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">96</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4,502</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$84.38</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="24%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:24.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Range of Care</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">43,907</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.5%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.8%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">634</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">274</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$48.36</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="24%" valign="bottom" style="padding:0in 0in 0in 0in;width:24.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Under Development </font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">(2)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22,347</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.5%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.5%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="24%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:24.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Schools</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12,444</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.5%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.4%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="24%" valign="bottom" style="padding:0in 0in 0in 0in;width:24.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Totals</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$906,582</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:11.5%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100.0%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">179</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9,069</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4,776</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<div style="margin:0in 0in .0001pt 13.5pt;"><hr size="1" width="12%" noshade color="black" align="left"></div>
<p style="margin:0in 0in .0001pt 31.5pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:8.0pt;">We have investments in 26 states leased to 35 different operators.</font></p>
<p style="margin:0in 0in .0001pt 31.5pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 31.5pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:8.0pt;">Includes a MC development with 60 units and two combination ALF and MC developments with a total of 158 units, a 143-bed SNF development and a 120-bed SNF redevelopment project.</font></p>
<p style="margin:0in 0in .0001pt 31.5pt;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">All of our owned properties are leased to our operators pursuant to non-cancelable operating leases generally with an initial term of 10 to 15 years.&#160; Each lease is a triple net lease covering one or more properties which requires the operator/lessee to pay all costs necessary in the operations of the facilities.&#160; Many of the leases contain renewal options.&#160; The leases provide for fixed minimum base rent during the initial and renewal periods.&#160; The majority of our leases contain provisions for specified annual increases over the rents of the prior year that are generally computed in one of four ways depending on specific provisions of each lease:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.0%;">
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(i)</font></p>    </td>
<td width="89%" valign="top" style="padding:0in 0in 0in 0in;width:89.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">a specified percentage   increase over the prior year&#146;s rent, generally between 2.0% and 3.0%;</font></p>    </td>   </tr>
<tr>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.0%;">
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(ii)</font></p>    </td>
<td width="89%" valign="top" style="padding:0in 0in 0in 0in;width:89.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">a calculation based on   the Consumer Price Index;</font></p>    </td>   </tr>
<tr>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.0%;">
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(iii)</font></p>    </td>
<td width="89%" valign="top" style="padding:0in 0in 0in 0in;width:89.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">as a percentage of   facility net patient revenues in excess of base amounts; or</font></p>    </td>   </tr>
<tr>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.0%;">
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(iv)</font></p>    </td>
<td width="89%" valign="top" style="padding:0in 0in 0in 0in;width:89.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">specific dollar   increases.</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">8<a name="PB_8_215924_5335"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">LTC PROPERTIES,&nbsp;INC.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS </font></b><b><font size="1" face="Times New Roman" style="font-size:9.0pt;font-weight:bold;">CONTINUED</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">(Unaudited)</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">As of March&nbsp;31, 2013, we have a commitment to provide, under certain conditions, up to $5,000,000 per year through December&nbsp;2014 to an existing operator for expansion of the 37 properties they lease from us.&#160; The estimated yield of this commitment is 9.5% plus the positive difference, if any, between the average yields on the U.S. Treasury 10-year note for the five days prior to funding, minus 420 basis points. In addition, the following table summarizes our investment commitments as of March&nbsp;31, 2013, excluding the $5,000,000 per year commitment, and year to date funding on our development, redevelopment, renovation and expansion projects <i>(excludes capitalized interest, dollar amounts in thousands)</i>:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="86%" style="border-collapse:collapse;margin-left:.5in;width:86.66%;">
<tr>
<td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.76%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Type&nbsp;of&nbsp;Property</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Investment<br>   Commitment</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">2013<br>   Funding&nbsp;</font><font size="1" style="font-size:6.0pt;position:relative;top:-2.0pt;">(2)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Commitment<br>   Funded</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Remaining<br>   Commitment</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Number&nbsp;of<br>   Properties</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Number&nbsp;of<br>   Beds/Units</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:15.76%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Skilled   Nursing </font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$36,644</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$2,313</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$11,418</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$25,226</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;6</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;&nbsp;785</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="15%" valign="top" style="padding:0in 0in 0in 0in;width:15.76%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Assisted   Living </font><font size="1" style="font-size:6.0pt;position:relative;top:-2.0pt;">(1)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;40,927</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;3,880</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;12,122</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;28,805</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;7</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;&nbsp;494</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="15%" valign="top" style="padding:0in 0in 0in 0in;width:15.76%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Totals</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$77,571</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;&nbsp;&nbsp;$6,193&nbsp;</font><font size="1" style="font-size:6.0pt;position:relative;top:-2.0pt;">(3)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;position:relative;top:-2.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$23,540</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$54,031</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">13</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">1,279</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<div style="margin:0in 0in .0001pt 45.0pt;"><hr size="1" width="12%" noshade color="black" align="left"></div>
<p style="margin:0in 0in .0001pt 63.0pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:8.0pt;">Includes the development of a 60-unit memory care property for $9,817 and two assisted living and memory care combination properties for a total of $16,385, the expansion of three assisted living properties for a total $14,600 and the renovation of a 140-unit independent living property for $125.</font></p>
<p style="margin:0in 0in .0001pt 63.0pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 63.0pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:8.0pt;">Excludes $117 of capital improvement on a completed project with no remaining commitments.</font></p>
<p style="margin:0in 0in .0001pt 63.0pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 63.0pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(3)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:8.0pt;">In April&nbsp;of 2013, we funded $1,398 under investment commitments.</font></p>
<p style="margin:0in 0in .0001pt 63.0pt;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">During the three months ended March&nbsp;31, 2012, we purchased a 144-bed skilled nursing property located in Texas for an aggregate purchase price of $18,600,000.&#160; Additionally, we sold a 140-bed skilled nursing property located in Texas for $1,248,000 and recognized a gain, net of selling expenses, of $16,000. This property was leased under a master lease and the economic terms of this master lease did not change as a result of this sale.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">Mortgage Loans.</font></i><font size="2" style="font-size:11.0pt;"> The following table summarizes our investments in mortgage loans secured by first mortgages at March&nbsp;31, 2013 <i>(dollar amounts in thousands)</i>:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="23%" valign="bottom" style="padding:0in 0in 0in 0in;width:23.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Percentage</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Number</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" colspan="3" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:17.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Number&nbsp;of</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Investment</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="23%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:23.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Type&nbsp;of&nbsp;Property</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Gross<br>   Investments</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">of<br>   Investments</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Number&nbsp;<br>   of Loans</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">of<br>   Properties</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">(1)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:8.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SNF&nbsp;<br>   Beds</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:8.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ALF<br>   Units</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">per<br>   Bed/Unit</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="23%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:23.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Skilled Nursing </font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">(2)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$25,097</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">62.5%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,861</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$13.49</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="23%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:23.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Assisted Living</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12,245</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">30.5%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:9.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">211</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$58.03</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="23%" valign="top" style="padding:0in 0in 0in 0in;width:23.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Range of Care</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,800</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.0%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">74</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$16.18</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="23%" valign="top" bgcolor="black" style="background:white;padding:0in 0in 0in 0in;width:23.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Totals</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="black" style="background:white;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="black" style="background:white;border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$40,142</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="black" style="background:white;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="black" style="background:white;border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100.0%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="black" style="background:white;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="black" style="background:white;border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:9.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="black" style="background:white;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="black" style="background:white;border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="black" style="background:white;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="black" style="background:white;border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,960</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="black" style="background:white;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="black" style="background:white;border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">285</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="black" style="background:white;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="black" style="background:white;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="black" style="background:white;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<div style="margin:0in 0in .0001pt 27.35pt;text-indent:-.25in;"><hr size="1" width="12%" noshade color="black" align="left"></div>
<p style="margin:0in 0in .0001pt 27.35pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:8.0pt;">We have investments in 8 states that include mortgages to 11 different operators.</font></p>
<p style="margin:0in 0in .0001pt 27.0pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 27.0pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:8.0pt;">Includes a mortgage and construction loan secured by a currently operating skilled nursing property and parcel of land upon which a 106-bed replacement facility will be constructed. The agreement gives us the right to purchase the replacement facility for $13,500 during an 18 month period beginning on the first anniversary of the issuance of the certificate of occupancy.</font></p>
<p style="margin:0in 0in .0001pt 27.0pt;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">At March&nbsp;31, 2013, the mortgage loans had interest rates ranging from 7.0% to 13.5% and maturities ranging from 2014 to 2022.&#160; In addition, some loans contain certain guarantees, provide for certain facility fees and generally have 20-year to 25-year amortization schedules.&#160; The majority of the mortgage loans provide for annual increases in the interest rate based upon a specified increase of 10 to 25 basis points. During the three months ended March&nbsp;31, 2013 and 2012, we received $462,000 and $718,000, respectively, in regularly scheduled principal payments. During the three months ended March&nbsp;31, 2013, we funded $910,000 under a $10,600,000 mortgage and construction loan and we have a remaining commitment of $7,070,000.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">9<a name="PB_9_222705_5796"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">LTC PROPERTIES,&nbsp;INC.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS </font></b><b><font size="1" face="Times New Roman" style="font-size:9.0pt;font-weight:bold;">CONTINUED</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">(Unaudited)</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">3.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Notes Receivable</font></b></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Notes receivables consist of various loans and line of credit agreements with certain operators. During the three months ended March&nbsp;31, 2013 and 2012, we received $114,000 and $191,000, respectively, in principal payments and we funded $63,000 and $1,034,000, respectively, under these notes. At March&nbsp;31, 2013, we had two term loans outstanding with a carrying value of $2,920,000 at a weighted average interest of 8.6%. Also at March&nbsp;31, 2013, we committed to provide $1,525,000 under six loans and line of credit agreements to certain operators. As of March&nbsp;31, 2013, we funded $209,000 under these commitments and have a remaining commitment of $1,316,000. In April&nbsp;2013, we funded $60,000 under these commitments. Accordingly, we have a remaining commitment of $1,256,000. These loans and line of credit commitments have interest ranging from 9.0% to 12.0% and maturities ranging from 2013 to 2014.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">4.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Marketable Securities</font></b></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">During 2012, Skilled Healthcare Group,&nbsp;Inc. (or SHG) redeemed all of their outstanding Senior Subordinated Notes at par value plus accrued and unpaid interest up to the redemption date. The SHG Senior Subordinated Notes had a face rate of 11.0% and an effective yield of 11.1%. During the three months ended March&nbsp;31, 2012, we recognized $180,000 of interest income from our $6,500,000 investment in SHG Senior Subordinated Notes. One of our board members is the chief executive officer of SHG. See <i>Note 9. Transactions with Related Party</i> for further discussion.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">5.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Debt Obligations</font></b></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">Bank Borrowings. </font></i><font size="2" style="font-size:11.0pt;">During 2012, we amended our Unsecured Credit Agreement increasing the commitment to $240,000,000 with the opportunity to increase the credit amount up to a total of $350,000,000. Additionally, the drawn pricing was decreased by 25 basis points, the undrawn pricing was decreased by 10 basis points and the maturity of the facility was extended for one additional year to May&nbsp;25, 2016. The amendment also provides for a one-year extension option at our discretion, subject to customary conditions.&#160; Based on our leverage at March&nbsp;31, 2013, the amended facility provides for interest annually at LIBOR plus 150 basis points and the unused commitment fee was 30 basis points.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">During the three months ended March&nbsp;31, 2013, we borrowed $2,000,000 under our Unsecured Credit Agreement.&#160; At March&nbsp;31, 2013, we had $117,500,000 outstanding and $122,500,000 available for borrowing. At March&nbsp;31, 2013, we were in compliance with all our covenants.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">Senior Unsecured Notes.</font></i><font size="2" style="font-size:11.0pt;">&#160; At March&nbsp;31, 2013 and December&nbsp;31, 2012, we had $185,800,000 outstanding under our Senior Unsecured Notes with a weighted average interest rate of 5.2% and $100,000,000 available under an Amended and Restated Note Purchase and Private Shelf agreement which provides for the possible issuance of senior unsecured fixed-rate term notes through October&nbsp;19, 2014.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">Bonds Payable</font></i><font size="2" style="font-size:11.0pt;">.&#160; At March&nbsp;31, 2013 and December&nbsp;31, 2012, we had outstanding principal of $2,035,000 and $2,635,000 respectively, on multifamily tax-exempt revenue bonds that are secured by five assisted living properties in Washington.&#160; These bonds bear interest at a variable rate that is reset weekly and mature during 2015.&#160; For the three months ended March&nbsp;31, 2013, the weighted average interest rate, including letter of credit fees, on the outstanding bonds was 2.9%.&#160; During the three months ended March&nbsp;31, 2013 and 2012, we paid $600,000 and $565,000, respectively, in regularly scheduled principal payments.&#160; As of March&nbsp;31, 2013 and December&nbsp;31, 2012, the aggregate carrying value of real estate properties securing our bonds payable was $6,584,000 and $6,650,000, respectively.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">10<a name="PB_10_222917_2897"></a></font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">LTC PROPERTIES,&nbsp;INC.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS </font></b><b><font size="1" style="font-size:9.0pt;font-weight:bold;">CONTINUED</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">(Unaudited)</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">6.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Equity</font></b></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Equity is allocated between controlling and non-controlling interests as follows <i>(in thousands)</i>:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="94%" style="border-collapse:collapse;margin-left:28.35pt;width:94.76%;">
<tr>
<td width="47%" valign="bottom" style="padding:0in 0in 0in 0in;width:47.96%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.82%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">LTC<br>   Properties,&nbsp;Inc.<br>   Stockholders&#146;<br>   Equity</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.82%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Non-controlling<br>   Interest</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total<br>   Equity</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.48%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="bottom" style="padding:0in 0in 0in 0in;width:47.96%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Balance at December&nbsp;31, 2012 </font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:15.82%;">
<p align="right" style="margin:0in .25in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$463,101</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:15.82%;">
<p align="right" style="margin:0in 23.75pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$7</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$463,108</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:2.48%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="bottom" style="padding:0in 0in 0in 0in;width:47.96%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net income</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="padding:0in 0in 0in 0in;width:15.82%;">
<p align="right" style="margin:0in .25in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12,976</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="padding:0in 0in 0in 0in;width:15.82%;">
<p align="right" style="margin:0in 23.75pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12,976</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.48%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="bottom" style="padding:0in 0in 0in 0in;width:47.96%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Issue common stock</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="padding:0in 0in 0in 0in;width:15.82%;">
<p align="right" style="margin:0in .25in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4,293</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="padding:0in 0in 0in 0in;width:15.82%;">
<p align="right" style="margin:0in 23.75pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4,293</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.48%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="bottom" style="padding:0in 0in 0in 0in;width:47.96%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vested restricted common stock</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="padding:0in 0in 0in 0in;width:15.82%;">
<p align="right" style="margin:0in .25in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">985</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="padding:0in 0in 0in 0in;width:15.82%;">
<p align="right" style="margin:0in 23.75pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">985</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.48%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="bottom" style="padding:0in 0in 0in 0in;width:47.96%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stock option exercise</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="padding:0in 0in 0in 0in;width:15.82%;">
<p align="right" style="margin:0in .25in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">523</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="padding:0in 0in 0in 0in;width:15.82%;">
<p align="right" style="margin:0in 23.75pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">523</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.48%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="bottom" style="padding:0in 0in 0in 0in;width:47.96%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reclassification adjustment</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="padding:0in 0in 0in 0in;width:15.82%;">
<p align="right" style="margin:0in 15.1pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(9)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="padding:0in 0in 0in 0in;width:15.82%;">
<p align="right" style="margin:0in 23.75pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(9</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.48%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="bottom" style="padding:0in 0in 0in 0in;width:47.96%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Non-controlling interest preferred return</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="padding:0in 0in 0in 0in;width:15.82%;">
<p align="right" style="margin:0in .25in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="padding:0in 0in 0in 0in;width:15.82%;">
<p align="right" style="margin:0in 20.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(7)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(7</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.48%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="bottom" style="padding:0in 0in 0in 0in;width:47.96%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preferred stock dividends</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="padding:0in 0in 0in 0in;width:15.82%;">
<p align="right" style="margin:0in 15.1pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(818)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="padding:0in 0in 0in 0in;width:15.82%;">
<p align="right" style="margin:0in 23.75pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(818</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.48%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="bottom" style="padding:0in 0in 0in 0in;width:47.96%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Common stock dividends</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="padding:0in 0in 0in 0in;width:15.82%;">
<p align="right" style="margin:0in 15.1pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(14,217)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="padding:0in 0in 0in 0in;width:15.82%;">
<p align="right" style="margin:0in 23.75pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(14,217</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.48%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="bottom" style="padding:0in 0in 0in 0in;width:47.96%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Other</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.82%;">
<p align="right" style="margin:0in 15.1pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(23)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.82%;">
<p align="right" style="margin:0in 23.75pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(23</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.48%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p>    </td>   </tr>
<tr>
<td width="47%" valign="bottom" style="padding:0in 0in 0in 0in;width:47.96%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Balance at March&nbsp;31, 2013</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:15.82%;">
<p align="right" style="margin:0in .25in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$466,811</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:15.82%;">
<p align="right" style="margin:0in 23.75pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$466,811</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:2.48%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">Preferred Stock.</font></i><font size="2" style="font-size:11.0pt;">&#160; At March&nbsp;31, 2013, we had 2,000,000 shares of our 8.5% Series&nbsp;C Cumulative Convertible Preferred Stock (or Series&nbsp;C preferred stock) outstanding.&#160; Our Series&nbsp;C preferred stock is convertible into 2,000,000 shares of our common stock at $19.25 per share.&#160; Total shares reserved for issuance of common stock related to the conversion of Series&nbsp;C preferred stock were 2,000,000 shares at March&nbsp;31, 2013.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">Common Stock.&#160; </font></i><font size="2" style="font-size:11.0pt;">During the three months ended March&nbsp;31, 2013, we acquired 600 shares of common stock held by employees who tendered owned shares to satisfy tax withholding obligations. We have an equity distribution agreement which allows us to issue and sell, from time to time, up to $85,686,000 in aggregate offering price of our common shares.&#160; Sales of common shares are made by means of ordinary brokers&#146; transactions at market prices, in block transactions, or as otherwise agreed between us and our sales agents.&#160; During the three months ended March&nbsp;31, 2012, we did not sell shares of our common stock under our equity distribution agreement. During the three months ended March&nbsp;31, 2013, we sold 126,742 shares of common stock for $4,895,000 in net proceeds under our equity distribution agreement. In conjunction with the sale of common stock, we reclassified $602,000 of accumulated costs associated with the equity distribution agreement to additional paid in capital. At March&nbsp;31, 2013, we had $59,578,000 available under this amended equity distribution agreement. Depending upon market conditions, we anticipate issuing securities under our registration statements to invest in additional properties and to repay borrowings under our unsecured line of credit.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">Available Shelf Registrations.&#160; </font></i><font size="2" style="font-size:11.0pt;">Our shelf registration statement provides us with the capacity to offer up to $400,000,000 in common stock, preferred stock, warrants, debt, depositary shares, or units.&#160; We may from time to time raise capital under our current shelf registration in amounts, at prices, and on terms to be announced when and if the securities are offered. The specifics of any future offerings, along with the use of proceeds of any securities offered, will be described in detail in a prospectus supplement, or other offering materials, at the time of the offering. At March&nbsp;31, 2013, we had availability of $167,614,000 under our effective shelf registration.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">11<a name="PB_11_223520_3020"></a></font></p>
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<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">LTC PROPERTIES,&nbsp;INC.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS </font></b><b><font size="1" style="font-size:9.0pt;font-weight:bold;">CONTINUED</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">(Unaudited)</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">Non-controlling Interests</font></i><font size="2" style="font-size:11.0pt;">. We currently have no limited partners. During 2012, we had one limited partnership. The limited partnership agreement allowed the limited partners to convert, on a one-for-one basis, their limited partnership units into shares of common stock or the cash equivalent, at our option. Since we exercised control, we consolidated the limited partnership and we carried the non-controlling interests at cost.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">During 2012, two of our limited partners exercised their conversion rights to exchange all of their 112,588 partnership units. At our discretion, we converted 23,294 partnership units into an equal number of our common shares.&#160; The partnership conversion price was $17.00 per partnership unit.&#160; At our discretion, we elected to satisfy the conversion of 89,294 limited partnership units with cash.&#160; We paid the limited partners $2,764,000, which represents the closing price of our common stock on the redemption date plus $0.05 per share multiplied by the number of limited partnership units redeemed.&#160; The amount we paid upon redemption exceeded the book value of the limited partnership interest redeemed by $1,246,000. Accordingly, the $1,246,000 excess book value of the limited partners&#146; interest in the partnership was reclassified to stockholders&#146; equity. We accounted for these conversions as an equity transaction because there was no change in control requiring consolidation or deconsolidation and remeasurement. Subsequent to these partnership conversions, the assets held by the limited partnership were transferred to other subsidiaries of the Company and the limited partnership was terminated.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The following table represents the change from net income attributable to us and transfers from non-controlling interest <i>(in thousands):</i></font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="3" face="Times New Roman" style="font-size:11.5pt;font-style:italic;">&nbsp;</font></i></p>
<table border="0" cellspacing="0" cellpadding="0" width="86%" style="border-collapse:collapse;margin-left:.5in;width:86.66%;">
<tr>
<td width="68%" valign="bottom" style="padding:0in 0in 0in 0in;width:68.26%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="25%" colspan="3" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:25.96%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Three&nbsp;months&nbsp;ended<br>   &nbsp;March&nbsp;31,</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="68%" valign="bottom" style="padding:0in 0in 0in 0in;width:68.26%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2013</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2012</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:2.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="68%" valign="bottom" style="padding:0in 0in 0in 0in;width:68.26%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net income attributable to LTC Properties,&nbsp;Inc.</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in 15.85pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$12,976</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$12,921</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="68%" valign="bottom" style="padding:0in 0in 0in 0in;width:68.26%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Transfers from the non-controlling interest</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in 15.85pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="68%" valign="bottom" style="padding:0in 0in 0in 0in;width:68.26%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Decrease in paid-in capital for limited partners   conversion</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in 15.85pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in 11.5pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1,246)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="68%" valign="bottom" style="padding:0in 0in 0in 0in;width:68.26%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Change from net income attributable to LTC   Properties,&nbsp;Inc. and transfers from non-controlling interest</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in 15.85pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$12,976</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$11,675</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">Distributions.</font></i><font size="2" style="font-size:11.0pt;"> We declared and paid the following cash dividends <i>(in thousands)</i>:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="93%" style="border-collapse:collapse;margin-left:.25in;width:93.34%;">
<tr>
<td width="30%" valign="bottom" style="padding:0in 0in 0in 0in;width:30.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="32%" colspan="3" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:32.14%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Three&nbsp;months&nbsp;ended&nbsp;March&nbsp;31,&nbsp;2013</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="32%" colspan="3" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:32.14%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Three&nbsp;months&nbsp;ended&nbsp;March&nbsp;31,&nbsp;2012</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.08%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="30%" valign="bottom" style="padding:0in 0in 0in 0in;width:30.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Declared</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Paid</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Declared</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.14%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Paid</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.08%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="30%" valign="bottom" style="padding:0in 0in 0in 0in;width:30.36%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preferred   Stock</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="30%" valign="bottom" style="padding:0in 0in 0in 0in;width:30.36%;">
<p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Series&nbsp;C</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="30%" valign="bottom" style="padding:0in 0in 0in 0in;width:30.36%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total   Preferred</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">818</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">818</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">818</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">818</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="30%" valign="bottom" style="padding:0in 0in 0in 0in;width:30.36%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="30%" valign="bottom" style="padding:0in 0in 0in 0in;width:30.36%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Common   Stock <font style="position:relative;top:-3.0pt;">(1)</font></font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14,217</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14,217</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13,226</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13,226</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="30%" valign="bottom" style="padding:0in 0in 0in 0in;width:30.36%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="30%" valign="bottom" style="padding:0in 0in 0in 0in;width:30.36%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total   </font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$15,035</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$15,035</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$14,044</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:15.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$14,044</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
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<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:9.0pt;">Represents $0.155 per share per month and $0.145 per share per month for the three months ended March&nbsp;31, 2013 and 2012, respectively.</font></p>
<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">In April&nbsp;2013, we declared a monthly cash dividend of $0.155 per share on our common stock for the months of April, May&nbsp;and June&nbsp;2013, payable on April&nbsp;30, May&nbsp;31 and June&nbsp;28, 2013, respectively, to stockholders of record on April&nbsp;22, May&nbsp;23 and June&nbsp;20, 2013, respectively.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">12<a name="PB_12_224526_7748"></a></font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">LTC PROPERTIES,&nbsp;INC.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS </font></b><b><font size="1" style="font-size:9.0pt;font-weight:bold;">CONTINUED</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">(Unaudited)</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">Other Equity.</font></i><font size="2" style="font-size:11.0pt;">&#160; At March&nbsp;31, 2013 and December&nbsp;31, 2012, other equity consisted of accumulated comprehensive income of $143,000 and $152,000, respectively.&#160; This balance represents the net unrealized holding gains on available-for-sale REMIC Certificates recorded in 2005 when we repurchased the loans in the underlying loan pool.&#160; This amount is being amortized to increase interest income over the remaining life of the loans that we repurchased from the REMIC Pool.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">Stock-Based Compensation</font></i><font size="2" style="font-size:11.0pt;">.&#160; During the three months ended March&nbsp;31, 2013, a total of 22,000 stock options were exercised at a total option value of $523,000 and a total market value on the date of exercise of $865,000. During the three months ended March&nbsp;31, 2012, a total of 10,000 stock options were exercised at a total option value of $151,000 and a total market value on the date of exercise of $305,000. No stock options were issued during the three months ended March&nbsp;31, 2013 and 2012. At March&nbsp;31, 2013, we had 73,334 stock options outstanding and all stock options are exercisable.&#160; Compensation expense related to the vesting of stock options for the three months ended March&nbsp;31, 2012 was $4,000.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">During the three months ended March, 31, 2013, we granted 20,000 shares of restricted common stock at $36.26 per share. These shares all vest on June&nbsp;1, 2016. Also during the three months ended March&nbsp;31, 2013, we accelerated the vesting of 18,180 shares of restricted common stock due to the retirement of our Senior Vice President, Marketing and Strategic Planning. Accordingly, we recorded $457,000 of compensation expense related to the accelerated vesting. During the three months ended March, 31, 2012, we granted 56,200 shares of restricted common stock at $31.77 per share. The vesting of these shares are as follows: 14,000 shares vest ratably over a five-year period from the grant date, 30,000 shares all vest on June&nbsp;15, 2015, and 12,200 shares all vest on January&nbsp;10, 2016. During the three months ended March&nbsp;31, 2013 and 2012, we recognized $985,000 and $448,000, respectively, of compensation expense related to the vesting of restricted common stock.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">7.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Commitments and Contingencies</font></b></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">As part of an acquisition in 2011, we committed to provide a contingent payment if certain operational thresholds are met.&#160; The contingent payment was recorded at fair value, which was estimated using a discounted cash flow analysis, and we are accreting the contingent liability to the estimated settlement amount as of the payment date.&#160; The fair value of such contingent liability is re-evaluated on a quarterly basis based on changes in estimates of future operating results and changes in market discount rates. Any changes in estimated fair value are recognized in our results of operations. During&#160; the three months ended March&nbsp;31, 2013 and 2012, we recorded non-cash interest expense of $110,000 related to the contingent liability. At March&nbsp;31, 2013 and December&nbsp;31, 2012, the contingent liability had a carrying value of $6,854,000 and $6,744,000, respectively.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">At March&nbsp;31, 2013, we had outstanding commitments totaling $77,571,000 to develop, re-develop, renovate or expand six skilled nursing properties with a total of 785 beds, a memory care property with 60 units, an independent living property with 140 units, two assisted living and memory care combination properties with a total of 158 units, and three assisted living properties with a total of 136 units.&#160; We also have a commitment to provide, under certain conditions, up to $5,000,000 per year through December&nbsp;2014 to an existing operator for expansion of the 37 properties they lease from us.&#160; See <i>Note 2. Real Estate Investments </i>for further discussion of these commitments. Additionally at March&nbsp;31, 2013, we had a $10,600,000 mortgage and construction commitment. As of March&nbsp;31, 2013, we funded $3,530,000 under this commitment and have a remaining commitment of $7,070,000. See <i>Note 2. Real Estate Investments </i>for further discussion of this mortgage and construction loan.&#160; We also committed to provide $1,525,000 in loan and line of credit agreements to certain operators. As of March&nbsp;31, 2013, we had funded $209,000 under these commitments and have a remaining commitment of $1,316,000. See <i>Note 3. Notes Receivables</i> for further discussion of these commitments.</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">13<a name="PB_13_183754_7056"></a></font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">LTC PROPERTIES,&nbsp;INC.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS </font></b><b><font size="1" style="font-size:9.0pt;font-weight:bold;">CONTINUED</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">(Unaudited)</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">8.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Major Operators</font></b></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">We have three operators from each of which we derive over 10% of our rental revenue and interest income from mortgage loans.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">In 2006, Extendicare Services,&nbsp;Inc. (or EHSI), one of our major operators, effected a reorganization whereby it completed a spin-off of Assisted Living Concepts,&nbsp;Inc. (or ALC).&#160; ALC is currently a NYSE traded public company operating assisted living centers. The remaining EHSI assets and operations were converted into a Canadian REIT (Extendicare REIT) listed on the Toronto Stock Exchange (or TSX).&#160; During 2012, Extendicare REIT converted from an income trust structure to a corporate structure under a corporation named Extendicare,&nbsp;Inc. (or Extendicare). Both Extendicare and ALC continue to be parties to the leases with us.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">On February&nbsp;25, 2013, ALC entered into an Agreement and Plan of Merger (or the Merger Agreement) with Aid Holdings, LLC, a Delaware limited liability company (or Aid Holdings), and Aid Merger Sub, LLC, a Delaware limited liability company and a wholly owned subsidiary of Aid Holdings (or Aid Merger Sub), providing for the merger of Aid Merger Sub with and into ALC (or the Merger), with ALC surviving the Merger as a wholly-owned subsidiary of Aid Holdings. Aid Holdings and Aid Merger Sub are affiliates of TPG Capital, L.P. Documents publicly available contemplate the merger being completed in summer of 2013.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Extendicare REIT and ALC collectively lease 37 assisted living properties with a total of 1,430 units owned by us representing approximately 6.7%, or $52,877,000, of our total assets at March&nbsp;31, 2013 and 10.7% of rental revenue and interest income from mortgage loans recognized as of March&nbsp;31, 2013.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Brookdale Senior Living Communities,&nbsp;Inc. (or Brookdale Communities) is a wholly owned subsidiary of a publicly traded company, Brookdale Senior Living,&nbsp;Inc. (or Brookdale). Brookdale Communities leases 35 assisted living properties with a total of 1,414 units owned by us representing approximately 6.7%, or $53,038,000, of our total assets at March&nbsp;31, 2013 and 10.7% of rental revenue and interest income from mortgage loans recognized as of March&nbsp;31, 2013.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Preferred Care,&nbsp;Inc. (or Preferred Care), through various wholly owned subsidiaries, operates 27 skilled nursing properties and two range of care properties that we own or on which we hold mortgages secured by first trust deeds.&#160; These properties consist of a total of 3,354 skilled nursing beds and 49 assisted living units. This represents approximately 6.6%, or $51,945,000, of our total assets at March&nbsp;31, 2013 and 10.5% of rental revenue and interest income from mortgage loans recognized as of March&nbsp;31, 2013. They also operate one skilled nursing property under a sub-lease with another lessee we have which is not included in the Preferred Care rental revenue and interest income from mortgage loans.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Our financial position and ability to make distributions may be adversely affected by financial difficulties experienced by Brookdale Communities, Extendicare, ALC, Preferred Care, or any of our lessees and borrowers, including any bankruptcies, inability to emerge from bankruptcy, insolvency or general downturn in business of any such operator, or in the event any such operator does not renew and/or extend its relationship with us or our borrowers when it expires.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">14<a name="PB_14_192435_7056"></a></font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">LTC PROPERTIES,&nbsp;INC.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</font></b><b><font size="2" style="font-size:11.0pt;font-weight:bold;">  </font></b><b><font size="1" style="font-size:9.0pt;font-weight:bold;">CONTINUED</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">(Unaudited)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">9.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Transactions with Related Party</font></b></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">We have entered into transactions with Skilled Healthcare Group,&nbsp;Inc. (or SHG). &#160;One of our directors, Boyd W. Hendrickson, serves as Chief Executive Officer of SHG.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">In December&nbsp;2005, we purchased, on the open market, $10,000,000 face value of SHG Senior Subordinated Notes with a face rate of 11.0% and an effective yield of 11.1%.&#160; Our Board of Directors, with Mr.&nbsp;Hendrickson abstaining, ratified the purchase of SHG Senior Subordinated Notes.&#160; As a result of an early redemption by SHG in 2007, we had a remaining investment in $6,500,000 face value of SHG Senior Subordinated Notes. During 2012, SHG redeemed all of their outstanding Senior Subordinated Notes at par value plus accrued and unpaid interest up to the redemption date. During the three months ended March&nbsp;31, 2012, we recognized $180,000 of interest income related to the SHG Senior Subordinated Notes.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">In addition, during September&nbsp;2007 SHG purchased the assets of Laurel Healthcare (or Laurel).&#160; We were not a direct party to this transaction.&#160; One of the assets SHG purchased was Laurel&#146;s leasehold interests in the skilled nursing properties in New Mexico Laurel leased from us under a 15-year master lease agreement dated in February&nbsp;2006.&#160; Our Board of Directors, with Mr.&nbsp;Hendrickson abstaining, ratified our consent to the assignment of Laurel&#146;s master lease to subsidiaries of SHG.&#160; The economic terms of the master lease agreement did not change as a result of our assignment of the master lease to subsidiaries of SHG.&#160; During the three months ended March&nbsp;31, 2013 and 2012, we received $1,113,000 and $1,086,000, respectively, in rental income and recorded $12,000 and $39,000, respectively, in straight-line rental income from subsidiaries of SHG.&#160; At March&nbsp;31, 2013 and December&nbsp;31, 2012, the straight-line rent receivable from subsidiaries of SHG was $3,203,000 and $3,191,000, respectively.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">15<a name="PB_15_192635_5335"></a></font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">LTC PROPERTIES,&nbsp;INC.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</font></b><b><font size="2" style="font-size:11.0pt;font-weight:bold;">  </font></b><b><font size="1" style="font-size:9.0pt;font-weight:bold;">CONTINUED</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">(Unaudited)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">10.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Earnings per Share</font></b></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The following table sets forth the computation of basic and diluted net income per share (<i>in thousands, except per share amounts</i>):</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">&nbsp;</font></b></p>
<table border="0" cellspacing="0" cellpadding="0" width="83%" style="border-collapse:collapse;margin-left:.75in;width:83.34%;">
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="30%" colspan="4" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:30.66%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Three&nbsp;Months&nbsp;Ended<br>   March&nbsp;31,</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.18%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2013</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.62%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.46%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2012</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.36%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Income   from continuing operations</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$12,976</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$12,916</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Less   net income allocated to non-controlling interests</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(11)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Less   net income allocated to participating securities:</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;Nonforfeitable   dividends on participating securities </font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(98)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(94)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total   net income allocated to participating securities</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(98)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(94)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Less   net income allocated to preferred stockholders:</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;Preferred   stock dividends</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(818)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(818)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total   net income allocated to preferred stockholders</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(818)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(818)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Income   from continuing operations available to common stockholders</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12,060</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11,993</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Discontinued   operations:</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;Gain   on sale of assets, net</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total   net income from discontinued operations</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net   income available to common stockholders</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12,060</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12,009</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Effect   of dilutive securities:</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Convertible   preferred securities</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net   income for diluted net income per share</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$12,060</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$12,009</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Shares   for basic net income per share</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">30,365</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">30,189</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Effect   of dilutive securities:</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stock   options</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">34</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">45</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Convertible   preferred securities</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Shares   for diluted net income per share</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">30,399</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">30,234</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="bottom" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Basic   net income per share</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0.40</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0.40</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.84%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Diluted   net income per share </font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">(1)</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:12.18%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0.40</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.62%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.38%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:12.46%;">
<p align="right" style="margin:0in 2.9pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0.40</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">_______________</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:9.0pt;">For the three months ended March&nbsp;31, 2013 and 2012, the Series&nbsp;C Cumulative Convertible Preferred Stock, the participating securities and the non-controlling interest have been excluded from the computation of diluted net income per share as such inclusion would be anti-dilutive.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">16<a name="PB_16_194029_5796"></a></font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">LTC PROPERTIES,&nbsp;INC.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS </font></b><b><font size="1" style="font-size:9.0pt;font-weight:bold;">CONTINUED</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">(Unaudited)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">11.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Fair Value Measurements</font></b></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">In accordance with the accounting guidance regarding the fair value option for financial assets and financial liabilities, entities are permitted to choose to measure certain financial assets and liabilities at fair value, with the change in unrealized gains and losses reported in earnings.&#160; We did not adopt the elective fair market value option for our financial assets and financial liabilities.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The carrying amount of cash and cash equivalents approximates fair value because of the short-term maturity of these instruments.&#160; We do not invest our cash in auction rate securities.&#160; The carrying value and fair value of our financial instruments as of March&nbsp;31, 2013 and December&nbsp;31, 2012 assuming election of fair value for our financial assets and financial liabilities were as follows (<i>in thousands</i>):</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="84%" style="border-collapse:collapse;margin-left:46.35pt;width:84.76%;">
<tr>
<td width="28%" valign="bottom" style="padding:0in 0in 0in 0in;width:28.08%;">
<p align="center" style="margin:0in 0in .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.94%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="31%" colspan="3" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:31.28%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">At   March&nbsp;31, 2013</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.94%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="34%" colspan="3" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:34.74%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">At   December&nbsp;31, 2012</font></p>    </td>   </tr>
<tr>
<td width="28%" valign="bottom" style="padding:0in 0in 0in 0in;width:28.08%;">
<p align="center" style="margin:0in 0in .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.94%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:14.16%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Carrying<br>   Value</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.96%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:14.16%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fair<br>   Value</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.94%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:14.16%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Carrying<br>   Value</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.94%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:17.66%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fair<br>   Value</font></p>    </td>   </tr>
<tr>
<td width="28%" valign="bottom" style="padding:0in 0in 0in 0in;width:28.08%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mortgage   loans receivable</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.94%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:14.16%;">
<p align="right" style="margin:0in 11.5pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$39,741</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.96%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:14.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$45,060</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">(1)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.94%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:14.16%;">
<p align="right" style="margin:0in 11.5pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$39,299</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.94%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:17.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$44,939</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">(1)</font></p>    </td>   </tr>
<tr>
<td width="28%" valign="bottom" style="padding:0in 0in 0in 0in;width:28.08%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Bonds   payable </font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.94%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.16%;">
<p align="right" style="margin:0in 11.5pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,035</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.96%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,035</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">(2)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.94%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.16%;">
<p align="right" style="margin:0in 11.5pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,635</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.94%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" valign="bottom" style="padding:0in 0in 0in 0in;width:17.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,635</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">(2)</font></p>    </td>   </tr>
<tr>
<td width="28%" valign="bottom" style="padding:0in 0in 0in 0in;width:28.08%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Bank   borrowings</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.94%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.16%;">
<p align="right" style="margin:0in 11.5pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">117,500</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.96%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">117,500</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">(2)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.94%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.16%;">
<p align="right" style="margin:0in 11.5pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">115,500</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.94%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" valign="bottom" style="padding:0in 0in 0in 0in;width:17.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">115,500</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">(2)</font></p>    </td>   </tr>
<tr>
<td width="28%" valign="bottom" style="padding:0in 0in 0in 0in;width:28.08%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Senior   unsecured notes</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.94%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.16%;">
<p align="right" style="margin:0in 11.5pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">185,800</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.96%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">194,475</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">(3)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.94%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.16%;">
<p align="right" style="margin:0in 11.5pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">185,800</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.94%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" valign="bottom" style="padding:0in 0in 0in 0in;width:17.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">194,838</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">(3)</font></p>    </td>   </tr>
<tr>
<td width="28%" valign="bottom" style="padding:0in 0in 0in 0in;width:28.08%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Contingent   liabilities</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.94%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.16%;">
<p align="right" style="margin:0in 11.5pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,854</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.96%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,854</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">(4)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.94%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.16%;">
<p align="right" style="margin:0in 11.5pt .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,744</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.94%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" valign="bottom" style="padding:0in 0in 0in 0in;width:17.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,744</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">(4)</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">_____________</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:9.0pt;">Our investment in mortgage loans receivable is classified as Level 3.&#160; The fair value is determined using a widely accepted valuation technique, discounted cash flow analysis on the expected cash flows.&#160; The discount rate is determined using our assumption on market conditions adjusted for market and credit risk and current returns on our investments.&#160; The discount rate used to value our future cash inflows of the mortgage loans receivable at March&nbsp;31, 2013 and December&nbsp;31, 2012 was 6.0%.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">(2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:9.0pt;">Our bonds payable and bank borrowings are at a variable interest rate.&#160; The estimated fair value of our bonds payable and bank borrowings approximated their carrying values at March&nbsp;31, 2013 and December&nbsp;31, 2012 based upon prevailing market interest rates for similar debt arrangements.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">(3)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:9.0pt;">Our obligation under our senior unsecured notes is classified as Level 3 and thus the fair value is determined using a widely accepted valuation technique, discounted cash flow analysis on the expected cash flows.&#160; The discount rate is measured based upon management&#146;s estimates of rates currently prevailing for comparable loans available to us, and instruments of comparable maturities.&#160; At March&nbsp;31, 2013 and December&nbsp;31, 2012,&#160; the discount rate used to value our future cash outflow of our senior unsecured notes was 3.8% for those maturing before year 2019 and 4.3% for those maturing through year 2021.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">(4)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:9.0pt;">Our contingent obligation under the earn-out liabilities is classified as Level 3. We estimated the fair value of the contingent earn-out payments using a discounted cash flow analysis. The discount rate that we use consists of a risk-free U.S. Treasury rate plus a company specific credit spread which we believe is acceptable by willing market participants.&#160; At March&nbsp;31, 2013 and December&nbsp;31, 2012, the discount rate used to value our future cash outflow of the earn-out liability was 6.5% and 6.6%, respectively.</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">17<a name="PB_17_195305_2897"></a></font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">LTC PROPERTIES,&nbsp;INC.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS </font></b><b><font size="1" style="font-size:9.0pt;font-weight:bold;">CONTINUED</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:11.5pt;font-weight:bold;">(Unaudited)</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">12.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Subsequent Events</font></b></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Subsequent to March&nbsp;31, 2013 the following events occurred.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">We declared a monthly cash dividend of $0.155 per share on our common stock for the months of April, May&nbsp;and June&nbsp;2013, payable on April&nbsp;30, May&nbsp;31 and June&nbsp;28, 2013, respectively, to stockholders of record on April&nbsp;22, May&nbsp;23 and June&nbsp;20, 2013, respectively.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">We funded $1,398,000 under real estate investment commitments. Accordingly, we have a remaining commitment of $52,633,000. See <i>Note 2. Real Estate Investments</i> for further discussion. We also funded $60,000 under loans and line of credit agreements to certain operators and have a remaining commitment of $1,256,000. See <i>Note 3. Notes Receivable</i> for further discussion.</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">18<a name="PB_18_202225_7056"></a></font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Item 2.&#160;&#160;&#160;&#160;&#160; MANAGEMENT&#146;S <a name="Managements_000214"></a>DISCUSSION AND ANALYSIS OF FINANCIAL</font></b></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.6in;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">CONDITION AND RESULTS OF OPERATIONS</font></b></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Statement Regarding Forward Looking Disclosure</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">This quarterly report contains forward-looking statements within the meaning of Section&nbsp;27A of the Securities Act of 1933, as amended, and Section&nbsp;21E of the Securities Exchange Act of 1934, as amended, adopted pursuant to the Private Securities Litigation Reform Act of 1995.&#160; Statements that are not purely historical may be forward-looking.&#160; You can identify some of the forward-looking statements by their use of forward-looking words, such as &#145;&#145;believes,&#146;&#146; &#145;&#145;expects,&#146;&#146; &#145;&#145;may,&#146;&#146; &#145;&#145;will,&#146;&#146; &#145;&#145;should,&#146;&#146; &#145;&#145;seeks,&#146;&#146; &#145;&#145;approximately,&#146;&#146; &#145;&#145;intends,&#146;&#146; &#145;&#145;plans,&#146;&#146; &#145;&#145;estimates&#146;&#146; or &#145;&#145;anticipates,&#146;&#146; or the negative of those words or similar words.&#160; Forward- looking statements involve inherent risks and uncertainties regarding events, conditions and financial trends that may affect our future plans of operation, business strategy, results of operations and financial position.&#160; A number of important factors could cause actual results to differ materially from those included within or contemplated by such forward-looking statements, including, but not limited to, the status of the economy, the status of capital markets (including prevailing interest rates), and our access to capital; the income and returns available from investments in health care related real estate, the ability of our borrowers and lessees to meet their obligations to us, our reliance on a few major operators; competition faced by our borrowers and lessees within the health care industry, regulation of the health care industry by federal, state and local governments (including as a result of the Patient Protection and Affordable Care Act of 2010 and the Health Care and Education Reconciliation Act of 2010), changes in Medicare and Medicaid reimbursement amounts (including due to federal and state budget constraints), compliance with and changes to regulations and payment policies within the health care industry, debt that we may incur and changes in financing terms, our ability to continue to qualify as a real estate investment trust, the relative illiquidity of our real estate investments, potential limitations on our remedies when mortgage loans default, and risks and liabilities in connection with properties owned through limited liability companies and partnerships.&#160; For a discussion of these and other factors that could cause actual results to differ from those contemplated in the forward-looking statements, please see the discussion under &#145;&#145;Risk Factors&#146;&#146; contained in our Annual Report on Form&nbsp;10-K for the fiscal year ended December&nbsp;31, 2012 and in our publicly available filings with the Securities and Exchange Commission.&#160; We do not undertake any responsibility to update or revise any of these factors or to announce publicly any revisions to forward-looking statements, whether as a result of new information, future events or otherwise.</font></i></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Executive Overview</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;font-weight:bold;">Business</font></i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">We are a self-administered health care real estate investment trust (or REIT) that invests primarily in senior housing and long term healthcare properties through acquisitions, development, mortgage loans and other investments. We conduct and manage our business as one operating segment, rather than multiple operating segments, for internal reporting and internal decision making purposes. Our primary senior housing and long term healthcare property types include skilled nursing properties (or SNF), assisted living properties (or ALF), independent living properties (or ILF), memory care properties (or MC) and combinations thereof. ALF,&nbsp;ILF, MC, and combinations thereof are included in the ALF property type. Range of care properties (or ROC) property type consists of properties providing skilled nursing and any combination of assisted living, independent living and/or memory care services.&#160; In the first quarter of 2013, senior housing and long term healthcare properties comprised approximately 99% of our investment portfolio.&#160; We have been operating since August&nbsp;1992.</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">19<a name="PB_19_230739_7056"></a></font></p>
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<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The following table summarizes our real estate investment portfolio as of March&nbsp;31, 2013 (<i>dollar amounts in thousands</i>):</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" colspan="3" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:19.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Three&nbsp;Months&nbsp;Ended<br>   March&nbsp;31,&nbsp;2013</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:0in 0in 0in 0in;width:8.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Percentage</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Number</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" colspan="3" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Number&nbsp;of</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Type&nbsp;of<br>   Property</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Gross<br>   Investments</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Percentage&nbsp;of<br>   Investments</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Rental<br>   Income</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Interest<br>   Income&nbsp;</font><font size="1" style="font-size:5.0pt;position:relative;top:-2.0pt;">(1)</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:8.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">of<br>   Revenues&nbsp;</font><font size="1" style="font-size:5.0pt;position:relative;top:-2.0pt;">(2)</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">of<br>   Properties</font><font size="1" style="font-size:5.0pt;position:relative;top:-2.0pt;">&nbsp;(3)</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:7.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">SNF<br>   Beds</font><font size="1" style="font-size:5.0pt;position:relative;top:-2.0pt;">(4)</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:7.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">ALF<br>   Units</font><font size="1" style="font-size:5.0pt;position:relative;top:-2.0pt;">(4)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:17.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Skilled   Nursing</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$473,107</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">50.0%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$12,559</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$&nbsp;&nbsp;&nbsp;701</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in 7.9pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">51.9%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">90</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.0%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">10,296</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.0%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Assisted   Living</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">392,119</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">41.4%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">10,231</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">277</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in 7.9pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">41.1%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">104</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.0%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.0%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">4,713</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Range   of Care</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">46,707</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">4.9%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:9.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">1,327</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:9.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">81</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in 7.9pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">5.5%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:9.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">9</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:7.0%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">733</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:7.0%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">348</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Under   Development</font><font size="1" style="font-size:5.0pt;position:relative;top:-2.0pt;">(5)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">22,347</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">2.4%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in 7.9pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">0.0%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.0%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.0%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="17%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Schools</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">12,444</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">1.3%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">394</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in 7.9pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">1.5%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">2</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:7.0%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:7.0%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Totals</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$946,724</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">100.0%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:9.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$24,511</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:9.0%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$1,059</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in 7.9pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">100.0%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:9.0%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">205</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:7.0%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">11,029</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:7.0%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">5,061</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 31.5pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt 49.5pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:8.0pt;">Includes interest income from mortgage loans.</font></p>
<p style="margin:0in 0in .0001pt 49.5pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 49.5pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:8.0pt;">Includes rental income and interest income from mortgage loans.</font></p>
<p style="margin:0in 0in .0001pt 49.5pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 49.5pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(3)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:8.0pt;">We have investments in 29 states leased or mortgaged to 42 different operators.</font></p>
<p style="margin:0in 0in .0001pt 49.5pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 49.5pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(4)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:8.0pt;">See Item 1. Financial Statements &#151; Note 2. Real Estate Investments for discussion of bed/unit count.</font></p>
<p style="margin:0in 0in .0001pt 49.5pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 49.5pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(5)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:8.0pt;">Includes a MC development with 60 units and two combination ALF and MC developments with a total of 158 units, a new 143-bed SNF development and a 120-bed SNF redevelopment project.</font></p>
<p style="margin:0in 0in .0001pt 49.5pt;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">As of March&nbsp;31, 2013 we had $741.7&nbsp;million in carrying value of net real estate investments, consisting of $701.9&nbsp;million or 94.6% invested in owned and leased properties and $39.7&nbsp;million or 5.4% invested in mortgage loans secured by first mortgages.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">For the three months ended March&nbsp;31, 2013, rental income and interest income from mortgage loans represented 95.5% and 4.1%, respectively, of total gross revenues.&#160;&#160; In most instances, our lease structure contains fixed annual rental escalations, which are generally recognized on a straight-line basis over the minimum lease period.&#160; Certain leases have annual rental escalations that are contingent upon changes in the Consumer Price Index and/or changes in the gross operating revenues of the property.&#160; This revenue is not recognized until the appropriate contingencies have been resolved.&#160; For the three months ended March&nbsp;31, 2013 and 2012, we recorded $0.9 million and $0.6&nbsp;million, respectively, in straight-line rental income.&#160; Also during three months ended March&nbsp;31, 2013 and 2012, we recorded $10,000 and $8,000, respectively, of straight-line rent receivable reserve. For leases in place at March&nbsp;31, 2013, assuming no modification or replacement of existing leases and no new leased investments are added to our portfolio, we currently expect that straight-line rental income will decrease from $3.3&nbsp;million for projected annual 2013 to $1.5&nbsp;million for projected annual 2014 and, conversely, our cash rental income is projected to increase from $95.4&nbsp;million for projected annual 2013 to $97.6&nbsp;million for projected annual 2014.&#160; During the three months ended March&nbsp;31, 2013, we received $23.7&nbsp;million of cash rental revenue and recorded amortization of lease inducement cost of $0.2&nbsp;million.&#160; For the three months ended March&nbsp;31, 2013, no leases were renewed.&#160; At March&nbsp;31, 2013 and December&nbsp;31, 2012, the straight-line rent receivable balance, net of reserves, on the balance sheet was $27.9&nbsp;million and $27.0&nbsp;million, respectively.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Our primary objectives are to create, sustain and enhance stockholder equity value and provide current income for distribution to stockholders through real estate investments in senior housing and long term care properties managed by experienced operators.&#160; To meet these objectives, we attempt to invest in properties that provide opportunity for additional value and current returns to our stockholders and diversify our investment portfolio by geographic location, operator, property type and form of investment.&#160; We opportunistically consider investments in health care facilities in related businesses where the business model is similar to our existing model and the opportunity provides an attractive expected return.&#160; Consistent with this strategy, we pursue, from time to time, opportunities for potential acquisitions and investments, with due diligence and negotiations often at different stages of development at any particular time.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">With respect to skilled nursing properties, we attempt to invest in properties that do not have to rely on a high percentage of private-pay patients.&#160; We prefer to invest in a property that has significant market presence in its community and where state certificate of need and/or licensing procedures limit the entry of competing properties.</font></p>
<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">For assisted living and independent living investments we have attempted to diversify our portfolio both geographically and across product levels.</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">20<a name="PB_20_000134_5335"></a></font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Memory care facilities offer specialized options for seniors with Alzheimer&#146;s disease and other forms of dementia.&#160; Purpose built, free-standing memory care facilities offer an attractive alternative for private-pay residents affected by memory loss in comparison to other accommodations that typically have been provided within a secured unit of an assisted living or skilled nursing facility. These facilities offer dedicated care and specialized programming for various conditions relating to memory loss in a secured environment that is typically smaller in scale and more residential in nature than traditional assisted living facilities.&#160; Residents require a higher level of care and more assistance with activities of daily living than in assisted living facilities.&#160; Therefore, these facilities have staff available 24 hours a day to respond to the unique needs of their residents.</font></p>
<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Substantially all of our revenues and sources of cash flows from operations are derived from operating lease rentals and interest earned on outstanding loans receivable.&#160; Our investments in mortgage loans and owned properties represent our primary source of liquidity to fund distributions and are dependent upon the performance of the operators on their lease and loan obligations and the rates earned thereon.&#160; To the extent that the operators experience operating difficulties and are unable to generate sufficient cash to make payments to us, there could be a material adverse impact on our consolidated results of operations, liquidity and/or financial condition.&#160; To mitigate this risk, we monitor our investments through a variety of methods determined by the type of health care facility and operator.&#160; Our monitoring process includes periodic review of financial statements for each facility, periodic review of operator credit, scheduled property inspections and review of covenant compliance.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">In addition to our monitoring and research efforts, we also structure our investments to help mitigate payment risk.&#160; Some operating leases and loans are credit enhanced by guaranties and/or letters of credit.&#160; In addition, operating leases are typically structured as master leases and loans are generally cross-defaulted and cross-collateralized with other loans, operating leases or agreements between us and the operator and its affiliates.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Depending upon the availability and cost of external capital, we anticipate making additional investments in health care related properties.&#160; New investments are generally funded from cash on hand, temporary borrowings under our unsecured line of credit and internally generated cash flows.&#160; Our investments generate internal cash from rent and interest receipts and principal payments on mortgage loans receivable.&#160; Permanent financing for future investments, which replaces funds drawn under our unsecured line of credit, is expected to be provided through a combination of public and private offerings of debt and equity securities and secured and unsecured debt financing.&#160; The timing, source and amount of cash flows provided by financing activities and used in investing activities are sensitive to the capital markets environment, especially to changes in interest rates.&#160; Changes in the capital markets&#146; environment may impact the availability of cost-effective capital.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">We believe our business model has enabled and will continue to enable us to maintain the integrity of our property investments, including in response to financial difficulties that may be experienced by operators.&#160; Traditionally, we have taken a conservative approach to managing our business, choosing to maintain liquidity and exercise patience until favorable investment opportunities arise.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">At March&nbsp;31, 2013, we had $9.6&nbsp;million of cash on hand, $122.5&nbsp;million available under our $240.0&nbsp;million unsecured line of credit, and $100.0 million available under the uncommitted private shelf agreement for our senior unsecured notes.&#160; Also, our potential ability to access the capital markets through the issuance of $59.6&nbsp;million of common stock under our equity distribution agreement and through the issuance of debt and/or equity securities under our $167.6&nbsp;million effective shelf registration.&#160; As a result, we believe our liquidity and various sources of available capital are sufficient to fund operations and development commitments, meet debt service obligations (both principal and interest), make dividend distributions and finance some future investments should we determine such future investments are financially feasible.</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">21<a name="PB_21_000149_5796"></a></font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;font-weight:bold;">Healthcare Regulatory Climate</font></i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The Centers for Medicare&nbsp;&amp; Medicaid Services (or CMS) annually updates Medicare skilled nursing facility prospective payment system rates and other policies.&#160;&#160; On August&nbsp;2, 2012, CMS published a notice updating Medicare skilled nursing facility payment rates for fiscal year 2013, which began on October&nbsp;1, 2012.&#160; The notice calls for a 1.8 percent update in rates (consisting of a 2.5 % market basket update, reduced by a 0.7 percentage point multifactor productivity adjustment mandated by the Affordable Care Act, as discussed below).&#160; CMS estimates that overall Medicare payments to skilled nursing facilities in fiscal year 2013 will increase by $670 million compared to fiscal year 2012.&#160; In addition, on November&nbsp;9, 2012, CMS published a final rule&nbsp;that, among other things, codifies provisions of section 3201 of the Middle Class&nbsp;Tax Extension and Job Creation Act of 2012 that require reductions in bad debt reimbursement to all providers, suppliers, and other entities eligible to receive bad debt reimbursement.&#160; The rule&nbsp;gradually reduces the amount Medicare skilled nursing facilities can claim as bad debt to 65% of allowable bad debt by fiscal year 2015. There can be no assurance that these rules&nbsp;or any future reductions in Medicare skilled nursing facility payment rates would not have an adverse effect on the financial condition of our borrowers and lessees which could, in turn, adversely impact the timing or level of their payments to us.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">In March&nbsp;2010, the President signed into law the Patient Protection and Affordable Care Act, which subsequently was amended by the Health Care and Education and Reconciliation Act of 2010 (collectively referred to as the &#147;Affordable Care Act&#148;).&#160; The Affordable Care Act is designed to expand access to affordable health insurance, contain health care costs, and institute a variety of health policy reforms.&#160; The provisions of the sweeping law may affect us directly, as well as impact our lessees and borrowers.&#160; While certain provisions, such as expanding the insured population, may positively impact the revenues of our lessees and borrowers, other provisions, particularly those intended to reduce federal health care spending, could have a negative impact on our lessees and borrowers.&#160; Among other things, the Affordable Care Act:&#160; reduces Medicare skilled nursing facility reimbursement by a so-called &#147;productivity adjustment&#148; based on economy-wide productivity gains beginning in fiscal year 2012; requires the development of a value-based purchasing program for Medicare skilled nursing facility services; establishes a national voluntary pilot program to bundle Medicare payments for hospital and post-acute services that could lead to changes in the delivery of post-acute services; and provides incentives to state Medicaid programs to promote community-based care as an alternative to institutional long term care services.&#160; The Affordable Care Act also includes provisions intended to expand public disclosure about nursing home ownership and operations, institute mandatory compliance and quality assurance programs, increase penalties for noncompliance, and expand fraud and abuse enforcement and penalty provisions that could impact our operators.&#160; In addition, the Affordable Care Act impacts both us and our lessees and borrowers as employers, including new requirements related to the health insurance we offer to our respective employees.&#160; Many aspects of the Affordable Care Act are being implemented through new regulations and subregulatory guidance. We cannot predict at this time what effect, if any, the various provisions of the Affordable Care Act will have on our lessees and borrowers or our business when fully implemented. There can be no assurances, however, that the Affordable Care Act will not adversely impact the operations, cash flows or financial condition of our lessees and borrowers, which subsequently could materially adversely impact our revenue and operations.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">On August&nbsp;2, 2011, President Obama signed into law the Budget Control Act of 2011, which increased the nation&#146;s debt ceiling while taking steps to reduce the federal deficit.&#160; Under this law, a bipartisan Joint Select Committee on Deficit Reduction was responsible for identifying $1.5 trillion in deficit reduction, which could include cuts in Medicare, Medicaid, and other federal spending and/or revenue increases.&#160; The Committee failed to achieve consensus on deficit reduction measures. As a result, an enforcement mechanism known as sequestration was scheduled to trigger a total of $1.2 trillion in spending reductions beginning in January&nbsp;2013, divided between domestic and defense spending.&#160; Under the Budget Control Act, Medicare provider payments are subject to sequestration, although the reductions are capped at 2%.&#160; On January&nbsp;2, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012, which, among other things, delayed sequestration for two months in order to provide an additional opportunity for Congress and the President to agree on alternative deficit reduction options.&#160; The American Taxpayer Relief Act also made a series of changes to Medicare payment provisions. Because no budget compromise was reached, on March&nbsp;1, 2013, President Obama issued a sequestration order mandating a 2% cut to Medicare payments to providers and health plans. The cuts generally apply to Medicare fee-for-service</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">22<a name="PB_22_000157_2897"></a></font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(FFS) claims with dates-of-service or dates-of-discharge on or after April&nbsp;1, 2013.&#160; Under current law, sequestration will last through FY 2021, although Congress and the Administration could enact legislation to end or modify sequestration at any time. There can be no assurances that federal spending reductions resulting from the Budget Control Act, including sequestration, or other future budget control mechanisms will not have an adverse impact on the financial condition of our borrowers and lessees, which subsequently could materially adversely impact our company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">In addition, comprehensive reforms affecting the payment for and availability of health care services have been proposed at the state level and adopted by certain states.&#160;&#160; Congress and state legislatures can be expected to continue to review and assess alternative health care delivery systems and payment methodologies. Changes in the law, new interpretations of existing laws, or changes in payment methodologies may have a dramatic effect on the definition of permissible or impermissible activities, the relative costs associated with doing business and the amount of reimbursement by the government and other third party payors.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;font-weight:bold;">Key Performance Indicators, Trends and Uncertainties</font></i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">We utilize several key performance indicators to evaluate the various aspects of our business.&#160; These indicators are discussed below and relate to concentration risk and credit strength.&#160; Management uses these key performance indicators to facilitate internal and external comparisons to our historical operating results in making operating decisions and for budget planning purposes.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">Concentration Risk.</font></i><font size="2" style="font-size:11.0pt;">&#160; We evaluate by gross investment our concentration risk in terms of asset mix, investment mix, operator mix and geographic mix.&#160; Concentration risk is valuable to understand what portion of our investments could be at risk if certain sectors were to experience downturns. Asset mix measures the portion of our investments that are real property or mortgage loans.&#160; In order to qualify as an equity REIT, at least 75 percent of our total assets must be represented by real estate assets, cash, cash items and government securities.&#160; Investment mix measures the portion of our investments that relate to our various property types.&#160; Operator mix measures the portion of our investments that relate to our top five operators.&#160; Geographic mix measures the portion of our investment that relate to our top five states.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">23<a name="PB_23_000204_3020"></a></font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The following table reflects our recent historical trends of concentration risk <i>(gross investment, in thousands)</i>:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="86%" style="border-collapse:collapse;margin-left:.5in;width:86.66%;">
<tr>
<td width="42%" valign="bottom" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.16%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="55%" colspan="9" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:55.4%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Period&nbsp;Ended</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.14%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="42%" valign="bottom" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:1.16%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.24%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">3/31/13</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.24%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">12/31/12</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.24%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">9/30/12</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.24%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">6/30/12</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.24%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">3/31/12</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:1.14%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Asset   mix:</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:1.0pt 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Real   property</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$906,582</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$900,095</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$805,759</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$743,297</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$740,951</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:1.0pt 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Loans   receivable</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">40,142</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">40,081</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">49,141</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">50,246</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">53,282</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="bottom" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Investment   mix:</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:1.0pt 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Skilled   nursing properties</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$473,107</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$472,282</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$470,878</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$411,056</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$413,684</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:1.0pt 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Assisted   living properties</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">392,119</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">392,157</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">320,253</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">320,368</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">320,481</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:1.0pt 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Range   of care properties</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">46,707</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">46,769</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">46,830</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">46,888</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">46,945</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:1.0pt 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Under   development</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">22,347</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">16,642</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">4,671</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">2,995</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">894</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:1.0pt 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Schools</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">12,444</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">12,326</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">12,268</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">12,236</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">12,229</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="bottom" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Operator   mix:</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:1.0pt 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Extendicare&nbsp;&amp;   ALC</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$88,034</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$88,034</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$88,034</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$&nbsp;88,034</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$&nbsp;88,034</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:1.0pt 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Juniper   Communities, LLC</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">87,088</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">87,088</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:1.0pt 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Preferred   Care </font><font size="1" style="font-size:6.0pt;position:relative;top:-2.0pt;">(1)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">84,192</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">84,292</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">84,425</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">85,075</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">85,245</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:1.0pt 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Brookdale   Communities </font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">84,211</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">84,210</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">84,210</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">84,210</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">84,210</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:1.0pt 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Senior   Care Centers, LLC</font><font size="1" style="font-size:6.0pt;position:relative;top:-2.0pt;">   (2)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">63,698</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">63,698</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">63,698</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">63,698</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">57,198</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:1.0pt 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Remaining   operators</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">539,501</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">532,854</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">534,533</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">472,526</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">479,546</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="bottom" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:1.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Geographic   mix:</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:1.0pt 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Texas</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$233,865</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$232,106</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$229,062</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$222,989</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$223,245</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:1.0pt 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Ohio</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">110,804</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">110,804</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">110,804</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">56,804</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">56,804</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:1.0pt 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">New   Jersey</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">70,667</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">70,667</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">12,195</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">12,195</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">12,195</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:1.0pt 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Florida</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">67,772</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">67,802</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">67,830</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">67,859</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">70,150</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:1.0pt 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Colorado</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">59,009</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">56,960</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">31,145</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">29,849</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">27,816</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.3%;">
<p style="margin:1.0pt 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Remaining   states</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">404,607</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">401,837</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">403,864</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">403,847</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.24%;">
<p align="right" style="margin:1.0pt 5.05pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">404,023</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt .75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt .75in;"><hr size="1" width="10%" noshade color="black" align="left"></div>
<p style="margin:0in .75in .0001pt 1.0in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:8.0pt;">Preferred Care,&nbsp;Inc. (or Preferred Care) leases 22 skilled nursing and two range of care properties under two master leases and one skilled nursing property under a separate lease agreement.&#160; In addition, they operate four skilled nursing properties securing four mortgage loans receivable that we have with unrelated third parties.&#160; They also operate one skilled nursing facility under a sub-lease with another lessee we have which is not included in the Preferred Care operator mix.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in .75in .0001pt 1.0in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:8.0pt;">Senior Care Centers, LLC (or Senior Care) also operates four skilled nursing properties under a sub-lease with another lessee which is not include in the Senior Care operator mix.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">Credit Strength.</font></i><font size="2" style="font-size:11.0pt;">&#160; We measure our credit strength both in terms of leverage ratios and coverage ratios.&#160; Our leverage ratios include debt to gross asset value and debt to market capitalization.&#160; The leverage ratios indicate how much of our consolidated balance sheet capitalization is related to long term obligations.&#160; Our coverage ratios include interest coverage ratio and fixed charge coverage ratio.&#160; The coverage ratios indicate our ability to service interest and fixed charges (interest plus preferred dividends).&#160; The coverage ratios are based on adjusted earnings before gain on sale of real estate, interest, taxes, depreciation and amortization (or Adjusted EBITDA).&#160; Leverage ratios and coverage ratios are widely used by investors, analysts and rating agencies in the valuation, comparison, rating and investment recommendations of companies.&#160; The following table reflects the recent historical trends for our credit strength measures:</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">24<a name="PB_24_210546_7056"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Balance Sheet Metrics</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="86%" style="border-collapse:collapse;margin-left:.5in;width:86.66%;">
<tr>
<td width="32%" valign="bottom" style="padding:0in 0in 0in 0in;width:32.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="63%" colspan="9" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:63.46%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Quarter&nbsp;Ended</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="32%" valign="bottom" style="padding:0in 0in 0in 0in;width:32.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.38%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">3/31/13</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.38%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">12/31/12</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.38%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">9/30/12</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.38%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">6/30/12</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.38%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">3/31/12</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="32%" valign="bottom" style="padding:0in 0in 0in 0in;width:32.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Debt   to gross asset value</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">30.6%</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;position:relative;top:-2.0pt;">(1)</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">30.8%</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;position:relative;top:-2.0pt;">(4)</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">24.8%</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;position:relative;top:-2.0pt;">(4)</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">20.3%</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;position:relative;top:-2.0pt;">(9)</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">20.9%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Debt&nbsp;&amp;   preferred stock to gross asset value</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">34.5%</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;position:relative;top:-2.0pt;">(1)</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">34.7%</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;position:relative;top:-2.0pt;">(4)</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">29.1%</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;position:relative;top:-2.0pt;">(4)</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">24.8%</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;position:relative;top:-2.0pt;">(9)</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">25.5%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="32%" valign="bottom" style="padding:0in 0in 0in 0in;width:32.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Debt   to market capitalization ratio </font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">19.1%</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;position:relative;top:-2.0pt;">(2)</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">21.4%</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;position:relative;top:-2.0pt;">(5)</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">18.1%</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;position:relative;top:-2.0pt;">(4)</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">13.0%</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;position:relative;top:-2.0pt;">(2)</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">14.8%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Debt&nbsp;&amp;   preferred stock to market capitalization ratio </font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">21.6%</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;position:relative;top:-2.0pt;">(2)</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">24.2%</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;position:relative;top:-2.0pt;">(5)</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">21.3%</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;position:relative;top:-2.0pt;">(4)</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">15.9%</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;position:relative;top:-2.0pt;">(2)</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">18.0%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="32%" valign="bottom" style="padding:0in 0in 0in 0in;width:32.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Interest   coverage ratio</font><font size="1" style="font-size:6.0pt;position:relative;top:-2.0pt;">(11)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 10.1pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">7.1x</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;position:relative;top:-2.0pt;">(3)</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 10.1pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">7.4x</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;position:relative;top:-2.0pt;">(6)</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 10.1pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">7.2x</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;position:relative;top:-2.0pt;">(8)</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 10.1pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">10.2x</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;position:relative;top:-2.0pt;">(10)</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 10.1pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">9.9x</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Fixed   charge coverage ratio</font><font size="1" style="font-size:6.0pt;position:relative;top:-2.0pt;">(11)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 10.1pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">5.6x</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;position:relative;top:-2.0pt;">(3)</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 10.1pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">5.7x</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;position:relative;top:-2.0pt;">(7)</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 10.1pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">5.6x</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;position:relative;top:-2.0pt;">(8)</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 10.1pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">7.3x</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;position:relative;top:-2.0pt;">(10)</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.38%;">
<p align="right" style="margin:0in 10.1pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">7.1x</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt .5in;"><font size="1" face="Times New Roman" style="font-size:4.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt .5in;"><hr size="1" width="18%" noshade color="black" align="left"></div>
<p style="margin:0in 0in .0001pt 59.75pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:9.0pt;">Decrease primarily due to increase in gross asset value from additional development and capital improvement funding.</font></p>
<p style="margin:0in 0in .0001pt 59.75pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 59.75pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">(2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:9.0pt;">Decrease primarily due to the increase in market capitalization.</font></p>
<p style="margin:0in 0in .0001pt 59.75pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 59.75pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">(3)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:9.0pt;">Decrease primarily due to increase in interest expense resulting from increased pricing levels under our unsecured line of credit.</font></p>
<p style="margin:0in 0in .0001pt 59.75pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 59.75pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">(4)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:9.0pt;">Increase primarily due to the increase in outstanding debt due to acquisitions.</font></p>
<p style="margin:0in 0in .0001pt 59.75pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 59.75pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">(5)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:9.0pt;">Increase primarily due to the increase in bank borrowings due to acquisitions offset by the increase in market capitalization.</font></p>
<p style="margin:0in 0in .0001pt 59.75pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 59.75pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">(6)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:9.0pt;">Increase primarily due to the decrease in interest expense caused by recording capitalized interest on the funding of construction projects and the decrease in depreciation due to a prior quarter one-time depreciation adjustment to reclassify a property from held-for-sale to held-for use, partially offset by increased income due to rental income from acquisitions.</font></p>
<p style="margin:0in 0in .0001pt 59.75pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 59.75pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">(7)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:9.0pt;">Increase due to the decrease in interest expense caused by recording capitalized interest on the funding of properties under development.</font></p>
<p style="margin:0in 0in .0001pt 59.75pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 59.75pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">(8)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:9.0pt;">Decrease primarily due to the increase in interest expense due to increased bank borrowing and the new senior unsecured term notes, the increase in debt issue costs and the non-cash interest related to the contingent earn-out liabilities.</font></p>
<p style="margin:0in 0in .0001pt 59.75pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 59.75pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">(9)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:9.0pt;">Decrease primarily due to the decrease in outstanding debt.</font></p>
<p style="margin:0in 0in .0001pt 59.75pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 59.75pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">(10)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160; </font><font size="1" style="font-size:9.0pt;">Increase primarily due to additional income generated from acquisitions.</font></p>
<p style="margin:0in 0in .0001pt 59.75pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 59.75pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">(11)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160; </font><font size="1" style="font-size:9.0pt;">In calculating our interest coverage and fixed charge coverage ratios above, we use Adjusted EBITDA, which is a financial measure not derived in accordance with U.S. generally accepted accounting principles (non-GAAP financial measure).&#160; Adjusted EBITDA is not an alternative to net income, operating income, income from continuing operations or cash flows from operating activities as calculated and presented in accordance with U.S. GAAP.&#160; You should not rely on Adjusted EBITDA as a substitute for any such U.S. GAAP financial measures or consider it in isolation, for the purpose of analyzing our financial performance, financial position or cash flows.&#160; Net income is the most directly comparable GAAP measure to Adjusted EBITDA.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="85%" style="border-collapse:collapse;margin-left:41.75pt;width:85.6%;">
<tr>
<td width="35%" valign="bottom" style="padding:0in 0in 0in 0in;width:35.16%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="60%" colspan="9" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:60.74%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Quarter&nbsp;Ended</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.76%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="35%" valign="bottom" style="padding:0in 0in 0in 0in;width:35.16%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.52%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">3/31/13</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.32%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">12/31/12</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.32%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">9/30/12</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.32%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">6/30/12</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.32%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.2%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">3/31/12</font></p>    </td>   </tr>
<tr>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.16%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Net   income</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.52%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$12,976</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$12,778</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$12,504</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$13,113</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.44%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$12,932</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.16%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Less:   Gain on sale</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.52%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.44%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">(16</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">)</font></p>    </td>   </tr>
<tr>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.16%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Add:   Interest expense</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.52%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">3,133</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">2,907</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">2,988</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">2,004</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.44%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">2,033</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.16%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Add:   Depreciation and amortization</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.52%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">6,136</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">5,692</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">5,925</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">5,369</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.44%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">5,167</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.16%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Total   adjusted EBITDA</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:10.52%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$22,245</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$21,377</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$21,417</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$20,486</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:9.44%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$20,116</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.16%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.52%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.44%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.16%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Interest   expense</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.52%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$3,133</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$2,907</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$2,988</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$2,004</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.44%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$2,033</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.16%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Interest   coverage ratio</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.52%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">7.1x</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">7.4x</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">7.2x</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">10.2x</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.44%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">9.9x</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.16%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.52%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.44%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.16%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Interest   expense</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.52%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$3,133</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$2,907</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$2,988</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$2,004</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.44%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$2,033</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.16%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Preferred   stock dividends </font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.52%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">818</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">819</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">818</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">818</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.44%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">818</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.16%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Total   fixed charges</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:10.52%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$3,951</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$3,726</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$3,806</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$2,822</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:9.44%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$2,851</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="35%" valign="bottom" style="padding:0in 0in 0in 0in;width:35.16%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.52%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.44%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.16%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Fixed   charge coverage ratio</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.52%;">
<p align="right" style="margin:0in .15in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">5.6x</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 8.65pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">5.7x</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 12.25pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">5.6x</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.5%;">
<p align="right" style="margin:0in 12.25pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">7.3x</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.44%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">7.1x</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">25<a name="PB_25_212048_5335"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
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<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">We evaluate our key performance indicators in conjunction with current expectations to determine if historical trends are indicative of future results. Our expected results may not be achieved and actual results may differ materially from our expectations.&#160; This may be a result of various factors, including, but not limited to</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">The status of the economy;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">The status of capital markets, including prevailing interest rates;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Compliance with and changes to regulations and payment policies within the health care industry;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Changes in financing terms;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Competition within the health care and senior housing industries; and</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Changes in federal, state and local legislation.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Management regularly monitors the economic and other factors listed above.&#160; We develop strategic and tactical plans designed to improve performance and maximize our competitive position. Our ability to achieve our financial objectives is dependent upon our ability to effectively execute these plans and to appropriately respond to emerging economic and company-specific trends.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">26<a name="PB_26_214315_5796"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
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<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Operating Results</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;font-weight:bold;">Three months ended March&nbsp;31, 2013 compared to three months ended March&nbsp;31, 2012</font></i></b></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="86%" style="border-collapse:collapse;margin-left:.5in;width:86.66%;">
<tr>
<td width="56%" valign="bottom" style="padding:0in 0in 0in 0in;width:56.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="25%" colspan="3" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:25.38%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Three&nbsp;months&nbsp;ended<br>   March&nbsp;&nbsp;31,</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Increase/</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="bottom" style="padding:0in 0in 0in 0in;width:56.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">2013</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">2012</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(Decrease)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="bottom" style="padding:0in 0in 0in 0in;width:56.16%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Revenues:</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="bottom" style="padding:0in 0in 0in 0in;width:56.16%;">
<p style="margin:0in 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Rental   income </font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">$24,511&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">$20,872&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">$3,639&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;position:relative;top:-3.0pt;">(1)</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="bottom" style="padding:0in 0in 0in 0in;width:56.16%;">
<p style="margin:0in 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Interest   income from mortgage loans </font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">1,059&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">1,532&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(473)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;position:relative;top:-3.0pt;">(2)</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="bottom" style="padding:0in 0in 0in 0in;width:56.16%;">
<p style="margin:0in 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Interest   and other income </font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">93&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">236&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(144)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0.375pt 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;position:relative;top:-3.0pt;">(3)</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="bottom" style="padding:0in 0in 0in 0in;width:56.16%;">
<p style="margin:0in 0in .0001pt 38.9pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Total   revenues</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">25,663&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">22,640&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">3,022&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="bottom" style="padding:0in 0in 0in 0in;width:56.16%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="bottom" style="padding:0in 0in 0in 0in;width:56.16%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Expenses:</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="bottom" style="padding:0in 0in 0in 0in;width:56.16%;">
<p style="margin:0in 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Interest   expense</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">3,133&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">2,033&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">1,100&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;position:relative;top:-3.0pt;">(4)</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="bottom" style="padding:0in 0in 0in 0in;width:56.16%;">
<p style="margin:0in 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Depreciation   and amortization</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">6,136&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">5,167&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">969&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;position:relative;top:-3.0pt;">(5)</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="bottom" style="padding:0in 0in 0in 0in;width:56.16%;">
<p style="margin:0in 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">General   and administrative expenses</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">3,418&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">2,524&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">893&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0.375pt 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;position:relative;top:-3.0pt;">(6)</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="bottom" style="padding:0in 0in 0in 0in;width:56.16%;">
<p style="margin:0in 0in .0001pt 38.9pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Total   expenses</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">12,687&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">9,724&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">2,962&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="bottom" style="padding:0in 0in 0in 0in;width:56.16%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="bottom" style="padding:0in 0in 0in 0in;width:56.16%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Income   from continuing operations</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">12,976&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">12,916&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">60&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="bottom" style="padding:0in 0in 0in 0in;width:56.16%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Discontinued   operations:</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="bottom" style="padding:0in 0in 0in 0in;width:56.16%;">
<p style="margin:0in 0in .0001pt 38.9pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Gain   on sale of assets, net</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&#151;&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">16&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(16)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0.375pt 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;position:relative;top:-3.0pt;">(7)</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="bottom" style="padding:0in 0in 0in 0in;width:56.16%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Net   income from discontinued operations</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&#151;&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">16&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(16)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="bottom" style="padding:0in 0in 0in 0in;width:56.16%;">
<p style="margin:3.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Net   income</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:3.0pt .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">12,976&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:3.0pt .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">12,932&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:3.0pt .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">44&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="bottom" style="padding:0in 0in 0in 0in;width:56.16%;">
<p style="margin:3.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Income   allocated to non-controlling interests</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:3.0pt .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&#151;&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:3.0pt .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(11)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:3.0pt .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">11&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0.375pt 0in;width:2.3%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;position:relative;top:-3.0pt;">(8)</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="bottom" style="padding:0in 0in 0in 0in;width:56.16%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Net   income attributable to LTC Properties,&nbsp;Inc.</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">12,976&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">12,921&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">55&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="bottom" style="padding:0in 0in 0in 0in;width:56.16%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="bottom" style="padding:0in 0in 0in 0in;width:56.16%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Income   allocated to participating securities</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(98)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(94)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(4)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="bottom" style="padding:0in 0in 0in 0in;width:56.16%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Income   allocated to preferred stockholders</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(818)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(818)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&#151;&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="bottom" style="padding:0in 0in 0in 0in;width:56.16%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Net   income available to common stockholders</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">$12,060&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">$12,009&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt .5in;"><hr size="1" width="16%" noshade color="black" align="left"></div>
<p style="margin:0in 0in .0001pt .8in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Increased due to acquisitions.</font></p>
<p style="margin:0in 0in .0001pt .8in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .8in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Decreased primarily due to payoffs and normal amortization of existing mortgage loans partially offset by origination of two loans totaling $7,719 in 2012 and construction funding of $910 during 2013.</font></p>
<p style="margin:0in 0in .0001pt .8in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .8in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Decreased primarily due to the redemption of the Skilled Healthcare Group bond.</font></p>
<p style="margin:0in 0in .0001pt .8in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .8in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Increased primarily due to an increase in debt (bank borrowings and the sale of senior unsecured notes to fund investments) and an increase in interest rates on our unsecured line of credit resulting from a change in pricing levels.</font></p>
<p style="margin:0in 0in .0001pt .8in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .8in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(5)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Increased due to acquisitions, developments and capital improvement investments.</font></p>
<p style="margin:0in 0in .0001pt .8in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .8in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(6)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Increased primarily due to a one-time $707 charge related to the retirement of our Senior Vice President, Marketing and Strategic Planning. The one-time charge included a severance payment of $250 and vesting expense of $457 related to the acceleration of 18,180 shares of restricted common stock.</font></p>
<p style="margin:0in 0in .0001pt .8in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .8in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(7)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Includes the gain on sale of a 140-bed skilled nursing property sold during 2012.</font></p>
<p style="margin:0in 0in .0001pt .8in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .8in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(8)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Decreased due to the conversion of all 112,588 limited partnership units during 2012.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">27<a name="PB_27_215202_2897"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
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<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Funds From Operations</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Funds from Operations (or FFO) available to common stockholders, basic FFO available to common stockholders per share and diluted FFO available to common stockholders per share are supplemental measures of a REIT&#146;s financial performance that are not defined by U.S. GAAP. Real estate values historically rise and fall with market conditions, but cost accounting for real estate assets in accordance with U.S. GAAP assumes that the value of real estate assets diminishes predictably over time.&#160; We believe that by excluding the effect of historical cost depreciation, which may be of limited relevance in evaluating current performance, FFO facilitates comparisons of operating performance between periods.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">We use FFO as a supplemental performance measurement of our cash flow generated by operations.&#160; FFO does not represent cash generated from operating activities in accordance with U.S. GAAP, and is not necessarily indicative of cash available to fund cash needs and should not be considered an alternative to net income available to common stockholders.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">We calculate and report FFO in accordance with the definition and interpretive guidelines issued by the National Association of Real Estate Investment Trusts (or NAREIT). FFO, as defined by NAREIT, means net income available to common stockholders (computed in accordance with U.S. GAAP) excluding gains or losses on the sale of real estate and impairment write-downs of depreciable real estate plus real estate depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures.&#160; Our calculation of FFO may not be comparable to FFO reported by other REITs that do not define the term in accordance with the current NAREIT definition or that have a different interpretation of the current NAREIT definition from us; therefore, caution should be exercised when comparing our FFO to that of other REITs.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The following table reconciles net income available to common stockholders to FFO available to common stockholders (unaudited, amounts in thousands, except per share amounts):</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<table border="1" cellspacing="0" cellpadding="0" width="80%" style="border:none;border-collapse:collapse;margin-left:.75in;width:80.02%;">
<tr>
<td width="66%" valign="bottom" style="border-bottom:none;border-left:solid windowtext 1.0pt;border-right:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:66.26%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="border:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:3.12%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="28%" colspan="3" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:28.12%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Three&nbsp;Months&nbsp;Ended<br>   March&nbsp;31,</font></p>    </td>
<td width="2%" valign="bottom" style="border-bottom:none;border-left:none;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="66%" valign="bottom" style="border:none;border-left:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:66.26%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:3.12%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">2013</font></p>    </td>
<td width="3%" valign="bottom" style="border:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:3.12%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">2012</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-right:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="66%" valign="bottom" style="border:none;border-left:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:66.26%;">
<p style="margin:0in 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Net   income available to common stockholders</font></p>    </td>
<td width="3%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.5%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$12,060&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.5%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$12,009&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-right:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="66%" valign="bottom" style="border:none;border-left:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:66.26%;">
<p style="margin:0in 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Add:   Depreciation and amortization </font></p>    </td>
<td width="3%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.5%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">6,136&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.5%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">5,167&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-right:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="66%" valign="bottom" style="border:none;border-left:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:66.26%;">
<p style="margin:0in 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Less:   Gain on sale of real estate, net</font></p>    </td>
<td width="3%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.5%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&#151;&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.5%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">(16)</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-right:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="66%" valign="bottom" style="border:none;border-left:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:66.26%;">
<p style="margin:0in 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">FFO   available to common stockholders</font></p>    </td>
<td width="3%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:12.5%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$18,196&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:12.5%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$17,160&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-right:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="66%" valign="bottom" style="border:none;border-left:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:66.26%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.5%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.5%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-right:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="66%" valign="bottom" style="border:none;border-left:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:66.26%;">
<p style="margin:0in 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">FFO   available to common stockholders per share:</font></p>    </td>
<td width="3%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.5%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.5%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-right:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="66%" valign="bottom" style="border:none;border-left:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:66.26%;">
<p style="margin:0in 0in .0001pt 28.1pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Basic   </font></p>    </td>
<td width="3%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:12.5%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$0.60&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:12.5%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$0.57&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-right:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="66%" valign="bottom" style="border:none;border-left:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:66.26%;">
<p style="margin:0in 0in .0001pt 28.1pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Diluted   </font></p>    </td>
<td width="3%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:12.5%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$0.59&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:12.5%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$0.56&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-right:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="66%" valign="bottom" style="border:none;border-left:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:66.26%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.5%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.5%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-right:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="66%" valign="bottom" style="border:none;border-left:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:66.26%;">
<p style="margin:0in 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Weighted   average shares used to calculate FFO per share:</font></p>    </td>
<td width="3%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.5%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.5%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-right:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="66%" valign="bottom" style="border:none;border-left:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:66.26%;">
<p style="margin:0in 0in .0001pt 28.1pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Basic   </font></p>    </td>
<td width="3%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:12.5%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">30,365&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:12.5%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">30,189&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-right:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="66%" valign="bottom" style="border:none;border-left:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:66.26%;">
<p style="margin:0in 0in .0001pt 28.1pt;text-indent:-10.1pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Diluted   </font></p>    </td>
<td width="3%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:12.5%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">32,609&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:12.5%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">32,470&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-right:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="66%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:none;border-top:none;padding:0in 0in 0in 0in;width:66.26%;">
<p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.5%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.5%;">
<p align="right" style="margin:0in .1in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Liquidity and Capital Resources</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">Operating Activities.</font></i><font size="2" style="font-size:11.0pt;">&#160; At March&nbsp;31, 2013, our real estate investment portfolio (before accumulated depreciation and amortization) consisted of $906.6&nbsp;million invested primarily in owned long-term healthcare properties and mortgage loans of approximately $40.1&nbsp;million (prior to deducting a $0.4&nbsp;million reserve).&#160; Our portfolio consists of direct investments (properties that we either own or on which we hold promissory notes secured by first mortgages) in 90 skilled nursing properties, 104 assisted living properties, 9 range of care properties, two schools and five parcels of land under development.&#160; These properties are located in 29 states.&#160; Assisted living properties, independent living properties, memory care properties and combinations thereof are included in the assisted living property type. Range of care properties consist of properties providing skilled nursing and any combination of assisted living, independent living and/or memory care services.&#160; For the three months ended March&nbsp;31, 2013, we had net cash provided by operating activities of $17.4&nbsp;million.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">28<a name="PB_28_220717_7056"></a></font></p>
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<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">For the three months ended March&nbsp;31, 2013 we recorded $0.9&nbsp;million in straight-line rental income and a reserve of $10,000 on our straight-line rent receivable.&#160; For leases in place at March&nbsp;31, 2013, assuming no modification or replacement of existing leases and no new leased investments are added to our portfolio, we currently expect that straight-line rental income will decrease from $3.3&nbsp;million for projected annual 2013 to $1.5&nbsp;million for projected annual 2014 and, conversely, our cash rental income is projected to increase from $95.4&nbsp;million for projected annual 2013 to $97.6&nbsp;million for projected annual 2014.&#160; During the three months ended March&nbsp;31, 2013 we received $23.7&nbsp;million of cash rental revenue and recorded $0.2&nbsp;million of amortized lease inducement cost.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">Investing and Financing Activities.</font></i><font size="2" style="font-size:11.0pt;">&#160; For the three months ended March&nbsp;31, 2013, we used $6.7&nbsp;million of cash for investing activities.&#160; During the three months ended March&nbsp;31, 2013, we received $0.5&nbsp;million in regularly scheduled principal payments on our mortgage loans. Additionally, we funded $0.9 million under a $10.6 million mortgage and construction loan and we have a remaining commitment of $7.1 million at March&nbsp;31, 2013.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">During the three months ended March&nbsp;31, 2013, we funded the following under our development, redevelopment, renovation and expansion projects <i>(excludes capitalized interest, dollar amounts in thousands)</i>:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="86%" style="border-collapse:collapse;margin-left:.5in;width:86.66%;">
<tr>
<td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.76%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Type&nbsp;of&nbsp;Property</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Investment<br>   Commitment</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">2013<br>   Funding&nbsp;</font><font size="1" style="font-size:6.0pt;position:relative;top:-2.0pt;">(2)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Commitment<br>   Funded</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Remaining<br>   Commitment</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Number&nbsp;of<br>   Properties</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Number&nbsp;of<br>   Beds/Units</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="15%" valign="top" bgcolor="#CCFFFF" style="background:#CCFFFF;border:none;padding:0in 0in 0in 0in;width:15.76%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Skilled   Nursing </font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCFFFF" style="background:#CCFFFF;padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCFFFF" style="background:#CCFFFF;border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$36,644</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCFFFF" style="background:#CCFFFF;padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCFFFF" style="background:#CCFFFF;border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$2,313</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCFFFF" style="background:#CCFFFF;padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCFFFF" style="background:#CCFFFF;border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$11,418</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCFFFF" style="background:#CCFFFF;padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCFFFF" style="background:#CCFFFF;border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$25,226</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCFFFF" style="background:#CCFFFF;padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCFFFF" style="background:#CCFFFF;border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .35in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">6</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCFFFF" style="background:#CCFFFF;padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCFFFF" style="background:#CCFFFF;border:none;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">785</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCFFFF" style="background:#CCFFFF;padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="15%" valign="top" style="padding:0in 0in 0in 0in;width:15.76%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Assisted   Living </font><font size="1" style="font-size:6.0pt;position:relative;top:-2.0pt;">(1)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">40,927</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">3,880</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">12,122</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">28,805</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .35in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">7</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">494</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="15%" valign="top" style="padding:0in 0in 0in 0in;width:15.76%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Totals</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$77,571</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in 4.3pt .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$6,193 </font><font size="1" style="font-size:6.0pt;position:relative;top:-2.0pt;">(3)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$23,540</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$54,031</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .35in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">13</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:11.54%;">
<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">1,279</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt .5in;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
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<p style="margin:0in .75in .0001pt .8in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:8.0pt;">Includes the development of a 60-unit memory care property for $9,817 and two assisted living and memory care combination properties for a total of $16,385, the expansion of three assisted living properties for a total $14,600 and the renovation of a 140-unit independent living property for $125</font></p>
<p style="margin:0in 0in .0001pt .8in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .8in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:8.0pt;">Excludes $117 of capital improvement funding for 2013.</font></p>
<p style="margin:0in 0in .0001pt .8in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .8in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(3)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:8.0pt;">In April&nbsp;of 2013, we funded $1,398 under investment commitments.</font></p>
<p style="margin:0in 0in .0001pt 63.0pt;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">In connection with an acquisition in December&nbsp;2012, we expect to acquire a 72-unit assisted living property located in Pennsylvania for approximately $12.0 million. We plan to finance the acquisition with funds drawn from our unsecured revolving line of credit and the assumption of approximately $6.8&nbsp;million of an existing U.S. Department of Housing and Urban Development (&#147;HUD&#148;) insured loan encumbering the property.&#160; The HUD loan bears interest at 3.75% and matures in 2051.&#160; Closing is subject to, among other things, the consent of HUD to the assignment to and assumption by us of the HUD loan, which is anticipated to occur in 2013. Simultaneous with the acquisition of this property, we intend to lease the property to an entity affiliated with Juniper Communities, LLC under similar terms and conditions as their existing master triple-net lease.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">At March&nbsp;31, 2013, we had two term loans outstanding with a carrying value of $2.9 million at a weighted average interest of 8.6%. Also at March&nbsp;31, 2013, we committed to provide $1.5 million under six loans and line of credit agreements to certain operators. As of March&nbsp;31, 2013, we funded $0.2 million under these commitments and have a remaining commitment of $1.3 million. These loans and line of credit commitments have interest ranging from 9.0% to 12.0% and maturities ranging from 2013 to 2014. During the three months ended March&nbsp;31, 2013, we received $0.1 million in principal payments and we funded $0.1 million under notes receivables.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">For the three months ended March&nbsp;31, 2013, we used $8.2&nbsp;million of cash in financing activities.&#160; During the three months ended March&nbsp;31, 2012, we paid $0.6&nbsp;million in scheduled principal payments on bonds payable.&#160; During the three months ended March&nbsp;31, 2013, we borrowed $2.0&nbsp;million under our unsecured line of credit.&#160; Accordingly, at March&nbsp;31, 2013, we had $117.5&nbsp;million outstanding and $122.5&nbsp;million available for borrowing. At March&nbsp;31, 2013, we were in compliance with all our covenants.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">We have an equity distribution agreement which allows us to issue and sell, from time to time, up to $85.7&nbsp;million in aggregate offering price of our common shares.&#160; Sales of common shares are made by means of ordinary brokers&#146; transactions at market prices, in block transactions, or as otherwise agreed between us and our sales agents.&#160; During the three months ended March, 31, 2013, we sold 126,742 shares of</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">29<a name="PB_29_221512_5335"></a></font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">common stock for $4.9 million in net proceeds under our equity distribution agreement. In conjunction with the sale of common stock, we reclassified $0.6 million of accumulated costs associated with the equity distribution agreement to additional paid in capital. At March&nbsp;31, 2013, we had $59.6&nbsp;million available under this equity distribution agreement.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">During the three months ended March&nbsp;31, 2013, we acquired 600 shares of common stock held by employees who tendered owned shares to satisfy tax withholding obligations. Additionally, during the three months ended March&nbsp;31, 2013, a total of 22,000 stock options were exercised at a total option value of $0.5 million and a total market value on the date of exercise of $0.9 million. No stock options were issued during the first quarter of 2013 and all stock options outstanding are exercisable as of March&nbsp;31, 2013. During the three months ended March&nbsp;31, 2013, we granted 20,000 shares of restricted common stock at $36.26 per share. These shares all vest on June&nbsp;1, 2016.&#160; Also during the three months ended March&nbsp;31, 2013, we accelerated the vesting of 18,180 shares of restricted common stock due to the retirement of our Senior Vice President, Marketing and Strategic Planning. Accordingly, we recorded $0.5 million of compensation expense related to the accelerated vesting. During the three months ended March&nbsp;31, 2013, we recognized $1.0 million of compensation expense related to the vesting of restricted common stock.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">We paid cash dividends on our 8.5% Series&nbsp;C Cumulative Convertible Preferred Stock totaling $0.8&nbsp;million.&#160; Additionally, we declared and paid cash dividends on our common stock totaling $14.2&nbsp;million.&#160; In April&nbsp;2013, we declared a monthly cash dividend of $0.155 per share on our common stock for the months of April, May&nbsp;and June&nbsp;2013, payable on April&nbsp;30, May&nbsp;31 and June&nbsp;28, 2013, respectively, to stockholders of record on April&nbsp;22, May&nbsp;23 and June&nbsp;20, 2013, respectively.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">Available Shelf Registration.</font></i><font size="2" style="font-size:11.0pt;"> Our shelf registration statement provides us with the capacity to offer up to $400.0&nbsp;million in common stock, preferred stock, warrants, debt, depositary shares, or units.&#160; We may from time to time raise capital under our current shelf registration in amounts, at prices, and on terms to be announced when and if the securities are offered. The specifics of any future offerings, along with the use of proceeds of any securities offered, will be described in detail in a prospectus supplement, or other offering materials, at the time of the offering.&#160; At March&nbsp;31, 2013, we had availability of $167.6&nbsp;million under our effective shelf registration.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">Liquidity.&#160; </font></i><font size="2" style="font-size:11.0pt;">We expect our future income and ability to make distributions from cash flows from operations to depend on the collectibility of our rents and mortgage loans receivable.&#160; The collection of these loans and rents will be dependent, in large part, upon the successful operation by the operators of the skilled nursing properties, assisted living properties, independent living properties, memory care properties, range of care properties and schools we own or that are pledged to us.&#160; Range of Care properties consist of properties providing skilled nursing and any combination of assisted living, independent living and/or memory care services.&#160; The operating results of the facilities will be impacted by various factors over which the operators/owners may&nbsp;have no control.&#160; Those factors include, without limitation, the status of the economy, changes in supply of or demand for competing long-term healthcare facilities, ability to control rising operating costs, and the potential for significant reforms in the long-term healthcare industry.&#160; In addition, our future growth in net income and cash flow may&nbsp;be adversely impacted by various proposals for changes in the governmental regulations and financing of the long-term healthcare industry.&#160; We cannot presently predict what impact these proposals may&nbsp;have, if any.&#160; We believe that an adequate provision has been made for the possibility of loans proving uncollectible but we will continually evaluate the financial status of the operations of the senior housing and long term care properties.&#160; In addition, we will monitor our borrowers and the underlying collateral for mortgage loans and will make future revisions to the provision, if considered necessary.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Our investments, principally our investments in mortgage loans and owned properties, are subject to the possibility of loss of their carrying values as a result of changes in market prices, interest rates and inflationary expectations.&#160; The effects on interest rates may&nbsp;affect our costs of financing our operations and the fair market value of our financial assets.&#160; Generally our loans have predetermined increases in interest rates and our leases have agreed upon annual increases.&#160; Inasmuch as we may initially fund some of our investments with variable interest rate debt, we would be at risk of net interest margin deterioration if medium and long-term rates were to increase.&#160; As of March&nbsp;31, 2013, only $2.0&nbsp;million of our debt, excluding our Unsecured Credit Agreement, was at a variable interest rate.</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">30<a name="PB_30_221553_5796"></a></font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">At March&nbsp;31, 2013, we had $9.6&nbsp;million of cash on hand, $122.5&nbsp;million available under our unsecured line of credit and $100.0 million available under the uncommitted private shelf agreement for our senior unsecured notes. Also, we have the ability to access the capital markets through the issuance of $59.6&nbsp;million of common stock under our equity distribution agreement and through the issuance of debt and/or equity securities under our $167.6&nbsp;million effective shelf registration.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">We believe that our current cash balance, cash flow from operations available for distribution or reinvestment, our borrowing capacity and our potential ability to access the capital markets are sufficient to provide for payment of our current operating costs, meet debt obligations, provide funds for distribution to the holders of our preferred stock and pay common dividends at least sufficient to maintain our REIT status and repay borrowings at, or prior to, their maturity.&#160; The timing, source and amount of cash flows provided by financing activities and used in investing activities are sensitive to the capital markets environment, especially to changes in interest rates.&#160; We continuously evaluate the availability of cost-effective capital and believe we have sufficient liquidity for additional capital investments in 2013.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Critical Accounting Policies</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">There have been no material changes from the critical accounting policies as previously disclosed in our Annual Report on Form&nbsp;10-K for the fiscal year ended December&nbsp;31, 2012.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Item 3.&#160; QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</font></b><a name="Item3_QuantitativeAndQualitativeD_001423"></a></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">There were no material changes in our market risk during the three months ended March&nbsp;31, 2013.&#160; For additional information, refer to Item 7A as presented in our Annual Report on Form&nbsp;10-K for the year ended December&nbsp;31, 2012.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Item 4.&#160; CONTROLS AND PROCEDURES</font></b><a name="Item4_ControlsAndProcedures_001425"></a></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Our management, with the participation of our Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of our disclosure controls and procedures (as such term is defined in Rules&nbsp;13a-15(e)&nbsp;and 15d-15(e)&nbsp;under the Securities and Exchange Act of 1934, as amended). As of the end of the period covered by this report based on such evaluation our Chief Executive Officer and Chief Financial Officer have concluded that, as of the end of such period, our disclosure controls and procedures were effective.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">There has been no change in our internal control over financial reporting during the period covered by this report that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">31<a name="PB_31_221625_2897"></a></font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">PART&nbsp;II</font></b><a name="Partii_001500"></a></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">OTHER INFORMATION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Item 1.&#160; Legal Proceedings</font></b><a name="Item1_LegalProceedings_001502"></a></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">We are a party from time to time to various general and professional liability claims and lawsuits asserted against the lessees or borrowers of our properties, which in our opinion are not singularly or in the aggregate material to our results of operations or financial condition. These types of claims and lawsuits may include matters involving general or professional liability, which we believe under applicable legal principles are not our responsibility as a non-possessory landlord or mortgage holder. We believe that these matters are the responsibility of our lessees and borrowers pursuant to general legal principles and pursuant to insurance and indemnification provisions in the applicable leases or mortgages. We intend to continue to vigorously defend such claims.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Item 1A.&#160; Risk Factors</font></b><a name="Item1a_RiskFactors_001503"></a></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">There have been no material changes from the risk factors as previously disclosed in our Annual Report on Form&nbsp;10-K for the fiscal year ended December&nbsp;31, 2012.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Item 2.&#160; Unregistered Sales of Equity Securities and Use of Proceeds</font></b><a name="Item2_UnregisteredSalesOfEquitySe_001503"></a></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The number of shares of our Common Stock purchased and the average prices paid per share for each month in the quarter ended March&nbsp;31, 2013 are as follows:</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Period</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Total&nbsp;Number<br>   of&nbsp;Shares<br>   Purchased&nbsp;</font></b><b><font size="1" style="font-size:6.5pt;font-weight:bold;position:relative;top:-3.0pt;">(1)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Average<br>   Price<br>   Paid&nbsp;per<br>   Share</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="13%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:13.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Total&nbsp;Number<br>   of&nbsp;Shares<br>   Purchased&nbsp;as<br>   Part&nbsp;of<br>   Publicly<br>   Announced<br>   Plan&nbsp;</font></b><b><font size="1" style="font-size:6.5pt;font-weight:bold;position:relative;top:-3.0pt;">(2)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="14%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:14.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Maximum<br>   Number&nbsp;of<br>   Shares&nbsp;that&nbsp;May<br>   Yet&nbsp;Be<br>   Purchased<br>   Under&nbsp;the&nbsp;Plan</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="38%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:38.0%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">January&nbsp;1   &#150; January&nbsp;31, 2013</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.0%;">
<p align="right" style="margin:2.0pt .25in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.0%;">
<p align="right" style="margin:2.0pt .25in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$&nbsp;&nbsp;&nbsp;&nbsp;&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:13.0%;">
<p align="right" style="margin:2.0pt .25in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:14.0%;">
<p align="right" style="margin:2.0pt .15in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="38%" valign="top" style="padding:0in 0in 0in 0in;width:38.0%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">February&nbsp;1   &#150; February&nbsp;28, 2013</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
<p align="right" style="margin:2.0pt .25in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
<p align="right" style="margin:2.0pt .25in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$&nbsp;&nbsp;&nbsp;&nbsp;&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.0%;">
<p align="right" style="margin:2.0pt .25in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
<p align="right" style="margin:2.0pt .15in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="38%" valign="top" style="padding:0in 0in 0in 0in;width:38.0%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">March&nbsp;1   &#150; March&nbsp;31, 2013</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.0%;">
<p align="right" style="margin:2.0pt .25in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">600</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
<p align="right" style="margin:2.0pt .15in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$&nbsp;&nbsp;39.05</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:13.0%;">
<p align="right" style="margin:2.0pt .25in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
<p align="right" style="margin:2.0pt .15in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="38%" valign="top" style="padding:0in 0in 0in 0in;width:38.0%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total   </font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.0%;">
<p align="right" style="margin:2.0pt .25in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">600</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:13.0%;">
<p align="right" style="margin:2.0pt .25in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
<p align="right" style="margin:2.0pt .2in .0001pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:9.0pt;">During the three months ended March&nbsp;31, 2013, we acquired shares of common stock held by employees who tendered owned shares to satisfy tax withholding obligations.</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:4.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">(2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="1" style="font-size:9.0pt;">No shares were purchased as part of publicly announced plans or programs. We had a Board of Directors repurchase authorization program enabling us to repurchase up to 5,000,000 shares of our equity securities, including common and preferred securities, on the open market.&#160; During 2012, our Board of Directors terminated this repurchase authorization.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">32<a name="PB_32_222601_5335"></a></font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Item 6.&#160; Exhibits</font></b><a name="Item6_Exhibits_001506"></a></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">3.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">LTC Properties,&nbsp;Inc. Articles of Restatement (incorporated by reference to Exhibit&nbsp;3.2 to LTC Properties Inc.&#146;s Current Report on Form&nbsp;8-K dated September&nbsp;14, 2012)</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">3.2</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Bylaws of LTC Properties,&nbsp;Inc., as amended and restated August&nbsp;3, 2009 (incorporated by reference to Exhibit&nbsp;3.2 to LTC Properties Inc.&#146;s Form&nbsp;10-Q for the quarter ended June&nbsp;30, 2009)</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">10.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">The 2008 Equity Participation Plan*</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">31.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Certification of the Chief Executive Officer pursuant to Section&nbsp;302 of the Sarbanes-Oxley Act of 2002</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">31.2</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Certification of the Chief Financial Officer pursuant to Section&nbsp;302 of the Sarbanes-Oxley Act of 2002</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">32</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Certifications pursuant to 18 U.S.C. Section&nbsp;1350, as adopted pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act of 2002</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">101</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">The following materials from&nbsp;LTC Properties,&nbsp;Inc.&#146;s Form&nbsp;10-Q for the quarter ended March&nbsp;31, 2013, formatted in XBRL (eXtensible Business Reporting Language): (i)&nbsp;Consolidated Balance Sheets at March&nbsp;31, 2013 and December&nbsp;31, 2012; (ii)&nbsp;Consolidated Statements of&nbsp;Income for the three months ended March&nbsp;31, 2013 and 2012; (iii)&nbsp;Consolidated Statements of Cash Flows for the three months ended March&nbsp;31, 2013 and 2012; and (iv)&nbsp;Notes to Consolidated Financial Statements**</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">* During the three months ended March 31, 2013, the 2008 Equity Participation Plan was amended to permit the issuance of shares in uncertificated form.</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">** Pursuant to Rule&nbsp;406T of Regulation S-T, the Interactive Data Files on Exhibit&nbsp;101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section&nbsp;18 of the Securities and Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">33<a name="PB_33_222635_5796"></a></font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents">Table of Contents</a></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">SIGNATURES</font></b></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">LTC   PROPERTIES,&nbsp;INC.</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Registrant</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Dated: April&nbsp;30,   2013</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">By:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:11.0pt;">/s/ PAMELA   SHELLEY-KESSLER</font></u></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Pamela   Shelley-Kessler</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt 30.25pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Executive Vice   President, Chief Financial Officer and Corporate Secretary</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(Principal   Financial and Accounting Officer)</font></p>    </td>   </tr>  </table>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">34<a name="PB_34_222832_2897"></a></font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Exhibit 10.1</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">LTC PROPERTIES, INC.</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">THE 2008 EQUITY PARTICIPATION PLAN</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">OF</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">LTC PROPERTIES, INC.</font></b></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">LTC Properties, Inc., a Maryland corporation, has adopted The 2008 Equity Participation Plan of LTC Properties, Inc. (the &#147;Plan&#148;), effective June 10, 2008, for the benefit of its eligible employees, consultants and directors.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">The purposes of the Plan are as follows:</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To provide an additional incentive for Independent Directors, key Employees and consultants to further the growth, development and financial success of the Company by personally benefiting through the ownership of Company stock and/or rights which recognize such growth, development and financial success;</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To enable the Company to obtain and retain the services of Independent Directors, key Employees and consultants considered essential to the long range success of the Company by offering them an opportunity to own stock in the Company and/or rights which will reflect the growth, development and financial success of the Company; and</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(3)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To encourage participants to contribute materially to the growth of the Company, thereby benefiting the Company&#146;s stockholders, and align the economic interests of the participants with those of the stockholders.</p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">ARTICLE I.</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">DEFINITIONS</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Wherever the following terms are used in the Plan they shall have the meanings specified below, unless the context clearly indicates otherwise.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Administrator</i>&#148; shall mean the party that conducts the general administration of the Plan as provided in Article XI.&#160; With reference to the administration of the Plan with respect to Awards granted to Independent Directors, the term &#147;Administrator&#148; shall refer to the Board.&#160; With reference to the administration of the Plan with respect to any other Award, the term &#147;Administrator&#148; shall refer to the Committee, unless the Board has assumed the authority for administration of the Plan generally as provided in Section 11.2.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Award</i>&#148; shall mean an Option, Restricted Stock, a Performance Award, Dividend Equivalents, Deferred Stock, Stock Payment or a Stock Appreciation Right, which may be awarded or granted under the Plan (collectively, &#147;Awards&#148;).</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">1<a name="PB_1_233935_7056"></a></font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Award Agreement</i>&#148; shall mean a written agreement executed by an authorized director or officer of the Company and the Holder which contains such terms and conditions with respect to an Award as the Administrator shall determine, consistent with the Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Award Limit</i>&#148; shall mean two hundred thousand (200,000) shares of Common Stock, as adjusted pursuant to Section 12.3 of the Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Board</i>&#148; shall mean the Board of Directors of the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Change in Control</i>&#148; shall mean, unless otherwise defined in an Award Agreement, a change in ownership or control of the Company effected through any of the following transactions:</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>any person or related group of persons (other than the Company or a person that directly or indirectly controls, is controlled by, or is under common control with, the Company) directly or indirectly acquires beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act) of securities of the Company representing thirty percent (30%) or more of the total combined voting power of the Company&#146;s then outstanding securities; or</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the stockholders of the Company approve a merger or consolidation of the Company with any other corporation (or other entity), other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than 66-2/3% of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation; <i>provided, however, </i>that a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no person acquires more than 30% of the combined voting power of the Company&#146;s then outstanding securities shall not constitute a Change in Control; or</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the stockholders of the Company approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company of all or substantially all of the Company&#146;s assets, or</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>a majority of the members of the Board cease to be, as of any date of determination, members of the Board who were members of the Board as of the date the Plan was approved by the stockholders of the Company or were nominated for election or elected to the Board with the approval of a majority of the members of the Board at the time of such nomination or election.</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Code</i>&#148; shall mean the Internal Revenue Code of 1986, as amended.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Committee</i>&#148; shall mean the Compensation Committee of the Board, or another committee or subcommittee of the Board, appointed as provided in Section 11.1.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Common Stock</i>&#148; shall mean the common stock of the Company, par value $.01 per share.</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">2<a name="PB_2_233958_5335"></a></font></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Company</i>&#148; shall mean LTC Properties, Inc., a Maryland corporation.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Corporate Transaction</i>&#148; shall mean any of the following stockholder-approved transactions to which the Company is a party:</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>a merger, consolidation or acquisition in which the Company is not the surviving entity, except for a transaction the principal purpose of which is to change the state in which the Company is incorporated, form a holding company or effect a similar reorganization as to form whereupon the Plan and all Options are assumed by the successor entity;</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the sale, transfer, exchange or other disposition of all or substantially all of the assets of the Company, in complete liquidation or dissolution of the Company in a transaction not covered by the exceptions to clause (a), above; or</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>any reverse merger in which the Company is the surviving entity but in which securities possessing more than thirty percent (30%) of the total combined voting power of the Company&#146;s outstanding securities are transferred or issued to a person or persons different from those who held such securities immediately prior to such merger.</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><i><font size="3" face="Times New Roman" style="font-size:12.0pt;font-style:italic;">&#147;Coupled Stock Appreciation Right&#148; </font></i>shall mean an Award granted under Section 9.2 of the Plan.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>CSAR</i>&#148; shall mean a Coupled Stock Appreciation Right.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Deferred Stock</i>&#148; shall mean Common Stock awarded under Section 8.5 of the Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Director</i>&#148; shall mean a member of the Board.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Dividend Equivalent</i>&#148; shall mean a right to receive the equivalent value (in cash or Common Stock) of dividends paid on Common Stock, awarded under Section 8.3 of the Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Employee</i>&#148; shall mean any officer or other employee (as defined in accordance with Section 3401(c) of the Code) of the Company, or of any corporation which is a Subsidiary.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Exchange Act</i>&#148; shall mean the Securities Exchange Act of 1934, as amended.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Fair Market Value</i>&#148; of a share of Common Stock as of a given date shall be (i) the closing price of a share of Common Stock on the principal exchange on which shares of Common Stock are then trading, if any (or as reported on any composite index which includes such principal exchange), on the trading day previous to such date, or if shares were not traded on the trading day previous to such date, then on the next preceding date on which a trade occurred, or (ii) if Common Stock is not traded on an exchange but is quoted on NASDAQ or a successor quotation system, the mean between the closing representative bid and asked prices for the Common Stock on the trading day previous to such date as reported by NASDAQ or such successor quotation system; or (iii) if Common Stock is not publicly traded on an exchange and not quoted on NASDAQ or a successor quotation system, the Fair Market Value of a share of Common Stock as established by the Administrator acting in good faith through the reasonable application of a reasonable valuation method.</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">3<a name="PB_3_234015_5796"></a></font></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Grantee</i>&#148; shall mean an Employee, Independent Director or consultant granted a Performance Award, Dividend Equivalent, Stock Payment, Stock Appreciation Right, or Deferred Stock.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Holder</i>&#148; shall mean a person who has been granted or awarded an Award.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Incentive Stock Option</i>&#148; shall mean an Option that is designated as an Incentive Stock Option by the Committee to the extent such Option complies with the applicable provisions of Section 422 of the Code.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Independent Director</i>&#148; shall mean a member of the Board who is not an Employee.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><i><font size="3" face="Times New Roman" style="font-size:12.0pt;font-style:italic;">&#147;Independent Stock Appreciation Right&#148; </font></i>shall mean an Award granted under Section 9.3 of the Plan.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><i><font size="3" face="Times New Roman" style="font-size:12.0pt;font-style:italic;">&#147;ISAR&#148; </font></i>shall mean an Independent Stock Appreciation Right.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Non-Qualified Stock Option</i>&#148; shall mean an Option that is not designated as an Incentive Stock Option by the Committee, or an Option that is designated as an Incentive Stock Option to the extent such Option does not comply with the provisions of Section 422 of the Code.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Option</i>&#148; shall mean an Award granted under Article IV of the Plan.&#160; An Option granted under the Plan shall, as determined by the Committee, be either a Non-Qualified Stock Option or an Incentive Stock Option; <i>provided, however</i>, that Options granted to Independent Directors and consultants shall be Non-Qualified Stock Options.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Optionee</i>&#148; shall mean an Employee, consultant or Independent Director granted an Option under the Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Performance Award</i>&#148; shall mean a cash bonus, stock bonus or other performance or incentive award that is paid in cash, Common Stock or a combination of both, awarded under Section 8.2 of the Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Performance Criteria</i>&#148; shall mean the following business criteria with respect to the Company or any Subsidiary: (i) net income, (ii) performance of investments, (iii) cash flow, (iv) earnings per share, (v) return on equity, (vi) return on invested capital or assets, (vii) cost reductions or savings, (viii) funds from operations, (ix) appreciation in the fair market value of Common Stock and (x) earnings before any one or more of the following items: interest, depreciation or amortization.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Plan</i>&#148; shall mean The 2008 Equity Participation Plan of LTC Properties, Inc., as set forth herein and as amended from time to time.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Restricted Stock</i>&#148; shall mean Common Stock awarded under Article VII of the Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Restricted Stockholder</i>&#148; shall mean an Employee, Independent Director or consultant granted an Award of Restricted Stock under Article VII of the Plan.</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">4<a name="PB_4_234033_3020"></a></font></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Rule 16b-3</i>&#148; shall mean Rule 16b-3 under the Exchange Act, amended from time to time.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Securities Act</i>&#148; shall mean the Securities Act of 1933, as amended.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Stock Appreciation Right</i>&#148; shall mean an Award granted under Article IX of the Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Stock Payment</i>&#148; shall mean an Award granted under Section 8.4 of the Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Subsidiary</i>&#148; shall mean any corporation in an unbroken chain of corporations beginning with the Company if each of the corporations other than the last corporation in the unbroken chain then owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such chain.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Termination of Consultancy</i>&#148; shall mean the time when the engagement of a Holder as a consultant to the Company or a Subsidiary is terminated for any reason, with or without cause and with or without notice, including, but not by way of limitation, by resignation, discharge, death or retirement; but excluding terminations where there is a simultaneous commencement of employment with the Company or any Subsidiary.&#160; The Committee, in its absolute discretion, shall determine the effect of all matters and questions relating to Termination of Consultancy, including, but not by way of limitation, the question of whether a Termination of Consultancy resulted from a discharge for good cause, and all questions of whether a particular leave of absence constitutes a Termination of Consultancy.&#160; Notwithstanding any other provision of the Plan, the Company or any Subsidiary has an absolute and unrestricted right to terminate a consultant&#146;s service at any time for any reason whatsoever, with or without cause and with or without notice, except to the extent expressly provided otherwise in writing.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Termination of Directorship</i>&#148; shall mean the time when a Holder who is an Independent Director ceases to be a Director for any reason, including, but not by way of limitation, a termination by resignation, failure to be elected, death or retirement, but excluding terminations where there is a simultaneous commencement of employment or establishment of a consulting relationship with the Company or any Subsidiary.&#160; The Board, in its sole and absolute discretion, shall determine the effect of all matters and questions relating to Termination of Directorship with respect to Independent Directors.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#147;<i>Termination of Employment</i>&#148; shall mean the time when the employee-employer relationship between a Holder and the Company or any Subsidiary is terminated for any reason, with or without cause and with or without notice, including, but not by way of limitation, a termination by resignation, discharge, death, disability or retirement; but excluding (i) terminations where there is a simultaneous reemployment or continuing employment of a Holder by the Company or any Subsidiary, (ii) at the discretion of the Committee, terminations which result in a temporary severance of the employee-employer relationship, and (iii) at the discretion of the Committee, terminations which are followed by the simultaneous establishment of a consulting relationship by the Company or a Subsidiary with the former employee.&#160; The Committee, in its absolute discretion, shall determine the effect of all matters and questions relating to Termination of Employment, including, but not by way of limitation, the question of whether a Termination of Employment resulted from a discharge for cause, and all questions of whether a particular leave of absence constitutes a Termination of Employment; <i>provided,</i></font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">5<a name="PB_5_234101_7748"></a></font></p>
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<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;"><i><font size="3" face="Times New Roman" style="font-size:12.0pt;font-style:italic;">however</font></i>, that, with respect to Incentive Stock Options, unless otherwise determined by the Committee in its discretion, a leave of absence, change in status from an employee to an independent contractor or other change in the employee-employer relationship shall constitute a Termination of Employment if, and to the extent that, such leave of absence, change in status or other change interrupts employment for the purposes of Section 422(a)(2) of the Code and the then applicable regulations and revenue rulings under said Section.&#160; Notwithstanding any other provision of the Plan, the Company or any Subsidiary has an absolute and unrestricted right to terminate an Employee&#146;s employment at any time for any reason whatsoever, with or without cause and with or without notice, except to the extent expressly provided otherwise in writing.</p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">ARTICLE II.</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">SHARES SUBJECT TO PLAN AND OTHER LIMITATIONS</font></b></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">2.1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Aggregate Limit on Shares Subject to Plan and Individual Award Limits</u>.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The shares of stock subject to Awards shall be Common Stock.&#160; The aggregate number of such shares which may be issued upon exercise of Options or in connection with any other Awards shall not exceed Six Hundred Thousand (600,000).&#160; The shares of Common Stock issuable upon exercise of Options or in connection with any other Awards may be previously authorized but unissued shares.</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The Administrator may not grant to any individual in any calendar year Stock Options, Restricted Stock, Independent Stock Appreciation Rights, Performance Awards, Stock Payments and Deferred Stock representing in the aggregate a number of Shares in excess of the Award Limit.&#160; For this purpose, a Performance Award payable in cash shall represent a number of Shares equal to the amount of such cash divided by the Fair Market Value of a share of Common Stock on the date the Performance Award is granted.&#160; The Administrator may not grant to any individual in any calendar year Divided Equivalents in excess of the aggregate number of Stock Appreciation Rights, Deferred Stock Awards and Performance Awards payable in shares of Common Stock granted to such individual in such calendar year.&#160; The Administrator may not grant to any individual in any calendar year Coupled Stock Appreciation Rights in excess of the Options granted to such individual in such calendar year.</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">2.2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Add-back of Options and Other Rights</u>.&#160; If any Award expires, is forfeited or is canceled without having been fully exercised or without having become fully vested, or is exercised in whole or in part for cash as permitted by the Plan, the number of shares subject to such Award as to which such Award was not exercised, was forfeited, was cancelled, or was exercised in cash may again be subject to an Award, subject to the limitations of Section 2.1.&#160; Furthermore, any shares subject to Awards which are adjusted pursuant to Section 12.3 and become exercisable with respect to shares of stock of another corporation shall be considered cancelled and may again be subject to an Award, subject to the limitations of Section 2.1.&#160; If any share of Restricted Stock is forfeited by the Holder or repurchased by the Company pursuant to Section 7.5 hereof, such share may again be subject to an Award, subject to the limitations of Section 2.1.&#160; Notwithstanding the provisions of this Section 2.2, no shares of Common Stock may again be optioned, granted or awarded if such action would cause Incentive Stock Options to fail to qualify as an incentive stock options under Section 422 of the Code.</p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">6<a name="PB_6_234150_141"></a></font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">ARTICLE III.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">GRANTING OF AWARDS</font></b></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">3.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Award Agreement</u>.&#160; Each Award shall be evidenced by an Award Agreement.&#160; Award Agreements evidencing Incentive Stock Options shall contain such terms and conditions as may be necessary to meet the applicable provisions of Section 422 of the Code.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">3.2</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Consideration.&#160; </u>In consideration of the granting of an Award under the Plan, the Holder shall agree, in the Award Agreement, to remain in the employ of (or to consult for or to serve as an Independent Director of, as applicable) the Company or any Subsidiary for a period of at least one year (or such shorter period as may be fixed in the Award Agreement or by action of the Administrator following grant of the Award) after the Award is granted (or, in the case of an Independent Director, until the next annual meeting of stockholders of the Company).</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">3.3</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>At-Will Employment.&#160; </u>Nothing in the Plan or in any Award Agreement hereunder shall confer upon any Holder any right to continue in the employ of, or as a consultant for, the Company or any Subsidiary, or as a Director of the Company, or shall interfere with or restrict in any way the rights of the Company and any Subsidiary, which are hereby expressly reserved, to discharge any Holder at any time for any reason whatsoever, with or without cause and with or without notice, except to the extent expressly provided otherwise in a written employment agreement between the Holder and the Company or any Subsidiary.</p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">ARTICLE IV.</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">GRANTING OF OPTIONS TO EMPLOYEES,</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">CONSULTANTS AND INDEPENDENT DIRECTORS</font></b></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">4.1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Eligibility</u>.&#160; Any Employee or consultant selected by the Committee pursuant to Section 4.4(a)(i) shall be eligible to be granted Options.&#160; Each Independent Director of the Company shall be eligible to be granted Options at the times and in the manner set forth in Sections 4.5 and 4.6.&#160; An Option shall give the Optionee the right to purchase shares of Common Stock under the terms and conditions set forth in the Award Agreement applicable to the Option.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">4.2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Disqualification for Stock Ownership</u>.&#160; No person may be granted an Incentive Stock Option under the Plan if such person, at the time the Incentive Stock Option is granted, owns stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any then existing Subsidiary or parent corporation (within the meaning of Section 422 of the Code) unless such Incentive Stock Option conforms to the applicable provisions of Section 422 of the Code.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">4.3.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Qualification of Incentive Stock Options</u>.&#160; No Incentive Stock Option shall be granted to any person who is not an Employee.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">4.4.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Granting of Options to Employees and Consultants</u>.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The Committee shall from time to time, in its absolute discretion, and subject to applicable limitations of the Plan:</p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">7<a name="PB_7_234335_7608"></a></font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in .5in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Determine which Employees are key Employees and select from among the key Employees or consultants (including Employees or consultants who have previously received Awards under the Plan) such of them as in its opinion should be granted Options;</p>
<p style="margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in .5in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Subject to the Award Limit, determine the number of shares to be subject to such Options granted to the selected key Employees or consultants;</p>
<p style="margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in .5in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Subject to Section 4.3, determine whether such Options are to be Incentive Stock Options or Non-Qualified Stock Options; and</p>
<p style="margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in .5in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(iv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Determine the terms and conditions of such Options, consistent with the Plan.</p>
<p style="margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Upon the selection of a key Employee or consultant to be granted an Option, the Committee shall instruct the Secretary of the Company to issue the Option and may impose such conditions on the grant of the Option as it deems appropriate.&#160; Without limiting the generality of the preceding sentence, the Committee may, in its discretion and on such terms as it deems appropriate, and consistent with applicable law require as a condition on the grant of an Option to an Employee or consultant that the Employee or consultant surrender for cancellation some or all of the unexercised Options or any other Awards or rights which have been previously granted to him/her under the Plan or otherwise.&#160; An Option, the grant of which is conditioned upon such surrender, may have an Option price lower (or higher) than the exercise price of such surrendered Option or other Award, may cover the same (or a lesser or greater) number of shares as such surrendered Option or other Award, may contain such other terms as the Committee deems appropriate, and shall be exercisable in accordance with its terms, without regard to the number of shares, price, exercise period or any other term or condition of such surrendered Option or other Award.&#160; Notwithstanding the foregoing, the Committee shall not have authority to reprice Options in accordance with this Section 4.4(b) without first obtaining stockholder approval for such repricing and the grant of an Option described in the previous sentence may not result in the imposition on the Optionee of a 20% tax pursuant to Section 409A(a)(1)(B) of the Code.</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Any Incentive Stock Option granted under the Plan may be modified by the Committee, with the consent of the Optionee, to disqualify such Option from treatment as an &#147;incentive stock option&#148; under Section 422 of the Code, provided that no such modification may result in the imposition on the Optionee of a 20% tax pursuant to Section 409A(a)(1)(B) of the Code.</p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">4.5.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Granting of Options to Independent Directors</u>.&#160; The Board shall from time to time, in its absolute discretion, and subject to applicable limitations of the Plan determine (i) which Independent Directors, if any, should, in its opinion, be granted Non-Qualified Stock Options, (ii) subject to the Award Limit, determine the number of number of shares to be subject to such Options, and (iii) the terms and conditions of such Options, consistent with the Plan.</p>
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<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">4.6.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Options in Lieu of Cash Compensation</u>.&#160; Options may be granted under the Plan to Employees and consultants in lieu of cash bonuses which would otherwise be payable to such Employees and consultants and to Independent Directors in lieu of directors&#146; fees which would otherwise be payable to such Independent Directors, pursuant to such policies which may be adopted by the Administrator from time to time.</p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">ARTICLE V.</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">TERMS OF OPTIONS</font></b></p>
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<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:40.5pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">5.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Option Price</u>.&#160; The price per share of the shares subject to each Option granted to Employees and consultants shall be set by the Committee; <i>provided, however,</i> that such price shall not be less than the par value of a share of Common Stock, unless otherwise permitted by applicable state law, and shall not be less than 100% of the Fair Market Value of a share of Common Stock on the date the Option is granted; and provided further that in the case of Incentive Stock Options granted to an individual then owning (within the meaning of Section 424(d) of the Code) more than 10% of the total combined voting power of all classes of stock of the Company or any Subsidiary or parent corporation thereof (within the meaning of Section 422 of the Code), such price shall not be less than 110% of the Fair Market Value of a share of Common Stock on the date the Option is granted.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:40.5pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">5.2</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Option Term</u>.&#160; The term of an Option granted to an Employee or consultant shall be set by the Committee in its discretion; <i>provided, however,</i> that the term shall not be more than ten (10) years from the date the Option is granted, or five (5) years from such date if the Option is an Incentive Stock Option granted to an individual then owning (directly and through application of the attribution rules of Section 424(d) of the Code) more than 10% of the total combined voting power of all classes of stock of the Company or any Subsidiary or parent corporation thereof (within the meaning of Section 422 of the Code).&#160; Except as limited by requirements of Section 422 of the Code and regulations and rulings thereunder applicable to Incentive Stock Options, the Committee may extend the term of any outstanding Option in connection with any Termination of Employment or Termination of Consultancy of the Optionee or amend any other term or condition of such Option relating to such a termination.&#160; Notwithstanding the foregoing, the Committee may not extend the term of any outstanding Option beyond the earlier of (1) the original expiration date of the Option and (2) the ten-year anniversary of the grant date of the Option.</p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">5.3</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Option Vesting</u>.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The period during which the right to exercise, in whole or in part, an Option granted to an Employee or a consultant vests in the Optionee shall be set by the Committee in its sole and absolute discretion and the Committee may determine that an Option may not be exercised in whole or in part for a specified period after it is granted; <i>provided, however</i>, that, unless the Committee otherwise provides in the terms of the Award Agreement or otherwise, no Option shall be exercisable by any Optionee who is then subject to Section 16 of the Exchange Act within the period ending six months and one day after the date the Option is granted.&#160; At any time after grant of an Option, the Committee may, in its sole and absolute discretion and subject to whatever terms and conditions it selects, accelerate the period during which an Option granted to an Employee or consultant vests.</p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">9<a name="PB_9_234508_7091"></a></font></p>
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<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>No portion of an Option granted to an Employee or consultant which is unexercisable at Termination of Employment or Termination of Consultancy, as applicable, shall thereafter become exercisable, except as may be otherwise provided by the Committee either in the Award Agreement or by action of the Committee following the grant of the Option.</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To the extent that the aggregate Fair Market Value of Common Stock with respect to which &#147;incentive stock options&#148; (within the meaning of Section 422 of the Code, but without regard to Section 422(d) of the Code) are exercisable for the first time by an Optionee during any calendar year (under the Plan and all other incentive stock option plans of the Company and any parent or subsidiary corporation (within the meaning of Section 422 of the Code) of the Company) exceeds $100,000, such Options shall be treated as Non-Qualified Options to the extent required by Section 422 of the Code.&#160; The rule set forth in the preceding sentence shall be applied by taking Options into account in the order in which they were granted.&#160; For purposes of this Section 5.3(c), the Fair Market Value of stock shall be determined as of the time the Option with respect to such Common Stock is granted.</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Unless otherwise provided in an Award Agreement, Options shall become fully vested as of the date of a Change in Control.</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">5.4</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Terms of Options Granted to Independent Directors</u>.&#160; The price per share of the shares subject to each Option granted to an Independent Director shall equal 100% of the Fair Market Value of a share of Common Stock on the date the Option is granted.&#160; Subject to Section 6.6, each Option granted to an Independent Director pursuant to Section 4.5 shall become exercisable in cumulative annual installments of 33-1/3% on each of the first, second and third anniversaries of the date of grant, shall become fully vested as of the date of a Change in Control and shall expire on the earlier of the seventh anniversary of the date of vesting or one year following an Independent Director&#146;s Termination of Directorship for any reason.</p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">ARTICLE VI.</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">EXERCISE OF OPTIONS</font></b></p>
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<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">6.1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Partial Exercise</u>.&#160; An exercisable Option may be exercised in whole or in part.&#160; However, an Option shall not be exercisable with respect to fractional shares and the Administrator may require that, by the terms of the Option, a partial exercise be with respect to a minimum number of shares.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">6.2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Manner of Exercise</u>.&#160; All or a portion of an exercisable Option shall be deemed exercised upon delivery of all of the following to the Secretary of the Company or his/her office:</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>A written notice complying with the applicable rules established by the Administrator stating that the Option, or a portion thereof, is exercised.&#160; The notice shall be signed by the Optionee or other person then entitled to exercise the Option or such portion of the Option;</p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">10<a name="PB_10_234758_5335"></a></font></p>
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<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Such representations and documents as the Administrator, in its absolute discretion, deems necessary or advisable to effect compliance with all applicable provisions of the Securities Act and any other federal or state securities laws or regulations.&#160; The Administrator may, in its absolute discretion, also take whatever additional actions it deems appropriate to effect such compliance including, without limitation, (i) placing legends on share certificates or, if shares are uncertificated, noting such legends on the book entry account for the shares, and (ii) issuing stop-transfer notices to agents and registrars;</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>In the event that the Option shall be exercised pursuant to Section 12.1 by any person or persons (other than the Optionee), who have been transferred an Option pursuant to Section 12.1, appropriate proof of the right of such person or persons to exercise the Option; and</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Full cash payment to the Secretary of the Company for the shares with respect to which the Option, or portion thereof, is exercised.&#160; However, the Administrator, may in its discretion (i) allow payment, in whole or in part, through the delivery of shares of Common Stock owned by the Optionee, duly endorsed for transfer to the Company with a Fair Market Value on the date of delivery equal to the aggregate exercise price of the Option or exercised portion thereof; (ii) allow payment, in whole or in part, through the surrender of shares of Common Stock then issuable upon exercise of the Option having a Fair Market Value on the date of Option exercise equal to the excess of the aggregate exercise price of the Option or exercised portion thereof over the Option price of the Option or exercised portion thereof; (iii) allow payment, in whole or in part, in accordance with a cashless exercise program under which, if so instructed by the Optionee, shares of Common Stock may be issued directly to the Optionee&#146;s broker or dealer who in turn will sell the shares and pay the Option price in cash to the Company from the sale proceeds; or (iv) allow payment through any combination of the consideration provided in the foregoing clauses (i), (ii), and (iii).</p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">6.3.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Conditions to Issuance of Stock Certificates</u>.&#160; The Company shall not be required to issue shares of Common Stock, either in certificated or uncertificated form, purchased upon the exercise of any Option or portion thereof prior to the fulfillment of all of the following conditions:</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in .5in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The admission of such shares to listing on all stock exchanges on which such class of stock is then listed;</p>
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<p style="font-size:12.0pt;margin:0in .5in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The completion of any registration or other qualification of such shares under any state or federal law, or under the rulings or regulations of the Securities and Exchange Commission or any other governmental regulatory body which the Administrator shall, in its absolute discretion, deem necessary or advisable;</p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">11<a name="PB_11_000156_7056"></a></font></p>
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<p style="font-size:12.0pt;margin:0in .5in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The obtaining of any approval or other clearance from any state or federal governmental agency which the Administrator shall, in its absolute discretion, determine to be necessary or advisable;</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in .5in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The lapse of such reasonable period of time following the exercise of the Option as the Administrator may establish from time to time for reasons of administrative convenience; and</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in .5in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The receipt by the Company of full payment for such shares, including payment of any applicable tax withholdings, which in the discretion of the Administrator may be in the form of consideration used by the Optionee to pay for such shares under Section 6.2(d).</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">6.4.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Rights as Stockholders</u>.&#160; Optionees shall not be, nor have any of the rights or privileges of, stockholders of the Company in respect of any shares purchasable upon the exercise of any part of an Option unless and until such shares, in certificated or uncertificated form, have been issued by the Company to such Optionees.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">6.5.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Ownership and Transfer Restrictions</u>.&#160; The Administrator, in its absolute discretion, may impose such restrictions on the ownership and transferability of the shares purchasable upon the exercise of an Option as it deems appropriate.&#160; Any such restriction shall be set forth in the respective Award Agreement and may be referred to on any certificates evidencing such shares or, if the Restricted Stock is uncertificated, may be noted on the restricted book entry account for such shares and referred to on any notices or written statements that may be delivered to the holders of such shares.&#160; The Committee may require the Employee to give the Company prompt notice of any disposition of shares of Common Stock acquired by exercise of an Incentive Stock Option within (i) two years from the date of granting (including the date the Option is modified, extended or renewed for purposes of Section 424(h) of the Code) such Option to such Employee or (ii) one year after the transfer of such shares to such Employee.&#160; The Administrator may direct that any certificates evidencing, or any notices or written statements regarding, shares acquired by exercise of any such Option refer to such requirement to give prompt notice of disposition.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">6.6.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Additional Limitations on Exercise of Options</u>.&#160; Optionees may be required to comply with any timing or other restrictions with respect to the settlement or exercise of an Option, including a window-period limitation, as may be imposed in the discretion of the Administrator.</p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">ARTICLE VII.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">AWARD OF RESTRICTED STOCK</font></b></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">7.1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Eligibility</u>.&#160; Subject to the Award Limit, shares of Restricted Stock may be awarded to any Employee or consultant selected by the Committee pursuant to Section 7.2 or any Independent Director who the Board determines should receive such an Award.</p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">12<a name="PB_12_000240_5335"></a></font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">7.2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Award of Restricted Stock.</u></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The Administrator may from time to time, in its absolute discretion:</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in .5in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Determine which Employees are key Employees and select from among the key Employees, Independent Directors or consultants (including Employees, Independent Directors or consultants who have previously received other Awards under the Plan) such of them as in its opinion should be awarded Restricted Stock; and</p>
<p style="margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in .5in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Determine the purchase price, if any, and other terms and conditions applicable to such Restricted Stock, consistent with the Plan.</p>
<p style="margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The Administrator shall establish the purchase price, if any, and form of payment for Restricted Stock.</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Upon the selection of a key Employee, Independent Director or consultant to be awarded Restricted Stock, the Administrator shall instruct the Secretary of the Company to issue such Restricted Stock and may impose such conditions on the issuance of such Restricted Stock as it deems appropriate.</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">7.3.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Rights as Stockholders</u>.&#160; Subject to Section 7.4, upon delivery of the shares of Restricted Stock to the escrow holder pursuant to Section 7.6, the Restricted Stockholder shall have, unless otherwise provided by the Administrator, all the rights of a stockholder with respect to said shares, subject to the restrictions in his/her Award Agreement, including the right to receive all dividends and other distributions paid or made with respect to the shares; <i>provided, however</i>, that in the discretion of the Administrator and as set forth in the Award Agreement, any extraordinary distributions with respect to the Common Stock shall be subject to the restrictions set forth in Section 7.4 or such other restrictions as may be determined by the Administrator.</p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">7.4.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Restriction</u>.&#160; All shares of Restricted Stock issued under the Plan (including any shares received by holders thereof with respect to shares of Restricted Stock as a result of stock dividends, stock splits or any other form of recapitalization) shall, in the terms of each individual Restricted Stock Award Agreement, be subject to such terms, conditions and restrictions as the Administrator shall provide, which restrictions may include, without limitation, forfeiture of such shares in the event of termination of employment prior to completion of a term of service and restrictions concerning voting rights and transferability, Company performance and individual performance and satisfaction of one or more Performance Criteria; <i>provided, however,</i> that, by action taken after the Restricted Stock is issued, the Administrator may, on such terms and conditions as it may determine to be appropriate, remove any or all of the restrictions imposed by the terms of the Restricted Stock Award Agreement.&#160; Unless otherwise provided in the Award Agreement, all of the restrictions imposed on an Award of Restricted Stock shall lapse upon the occurrence of a Change in Control.&#160; Restricted Stock may not be sold or encumbered until all restrictions are terminated or expire.&#160; If no consideration was paid by the Restricted Stockholder upon issuance, a Restricted Stockholder&#146;s rights in unvested Restricted Stock shall lapse upon Termination of Employment or, if applicable, upon Termination of Consultancy or Termination of Directorship prior to the termination or expiration of all restrictions; <i>provided, however,</i> that unless otherwise provided by the Administrator in the Restricted Stock Award Agreement, such rights shall not lapse in the event of a Termination of Employment, Termination of Consultancy or Termination of Directorship following a Change in Control or because of the Restricted Stockholder&#146;s death or disability.</p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">13<a name="PB_13_000327_5796"></a></font></p>
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<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">7.5.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Repurchase of Restricted Stock</u>.&#160; The Administrator shall provide in the terms of each individual Restricted Stock Award Agreement that the Company shall have the right to repurchase from the Restricted Stockholder the Restricted Stock then subject to restrictions under the Restricted Stock Award Agreement immediately upon a Termination of Employment, Termination of Consultancy or Termination of Directorship prior to the termination or expiration of all restrictions, at a cash price per share equal to the price paid by the Restricted Stockholder for such Restricted Stock; <i>provided, however,</i> that the Administrator in its sole and absolute discretion may provide that no such right of repurchase shall exist in the event of a Termination of Employment, Termination of Consultancy or Termination of Directorship without cause or following a Change in Control or because of the Restricted Stockholder&#146;s retirement, death, disability or otherwise.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">7.6.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Escrow</u>.&#160; Unless otherwise determined by the Administrator, the Secretary of the Company or such other escrow holder as the Administrator may appoint shall retain physical custody of any certificates representing Restricted Stock or, if such Restricted Stock is uncertificated, shall cause such uncertificated shares of Restricted Stock to be held by the Company&#146;s transfer agent in a restricted book entry account, in each case until all of the restrictions imposed under the Restricted Stock Award Agreement with respect to such shares of Restricted Stock terminate, expire or have been removed.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">7.7.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Legend / Notice</u>.&#160; In order to enforce the restrictions imposed upon shares of Restricted Stock hereunder, the Administrator, for all shares of Restricted Stock that are still subject to restrictions under Award Agreements, shall cause a legend or legends that make appropriate reference to the conditions imposed thereby to be placed on any certificates representing such shares, or, if such shares are in uncertificated form, shall cause the Company&#146;s transfer agent to note such legend or legends on the restricted book entry account for such shares and to issue such notices or written statements containing information on the conditions imposed under the Award Agreements to the holders of such shares as may be required by law, the Company&#146;s charter and bylaws or otherwise deemed appropriate by the Company.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">7.8.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Section 83(b) Election</u>.&#160; If a Restricted Stockholder makes an election under Section 83(b) of the Code, or any successor section thereto, to be taxed with respect to the Restricted Stock as of the date of transfer of the Restricted Stock rather than as of the date or dates upon which the Restricted Stockholder would otherwise be taxable under Section 83(a) of the Code, the Restricted Stockholder shall deliver a copy of such election to the Company immediately after filing such election with the Internal Revenue Service.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">7.9.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Restricted Stock in Lieu of Cash Compensation</u>.&#160; Restricted Stock may be awarded under the Plan to Employees and consultants in lieu of cash bonuses which would otherwise be payable to such Employees and consultants and to Independent Directors in lieu of directors&#146; fees which would otherwise be payable to such Independent Directors, pursuant to such policies which may be adopted by the Administrator from time to time.</p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">14<a name="PB_14_000351_2897"></a></font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">ARTICLE VIII.</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">PERFORMANCE AWARDS, DIVIDEND EQUIVALENTS, DEFERRED STOCK,</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">STOCK PAYMENTS</font></b></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">8.1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Eligibility</u>.&#160; Subject to the Award Limit, one or more Performance Awards, Dividend Equivalents, Awards of Deferred Stock, and/or Stock Payments may be granted to any Employee who the Committee determines is a key Employee, any consultant who the Committee determines should receive such an Award or any Independent Director who the Board determines should receive such an Award.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">8.2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Performance Awards</u>.&#160; Any key Employee or consultant selected by the Committee or any Independent Director selected by the Board may be granted one or more Performance Awards.&#160; A Performance Award represents the right to receive a payment subject to satisfaction of any one or more of the Performance Criteria or other specific performance criteria determined appropriate by the Administrator on a specified date or dates or over any period or periods determined by the Administrator.&#160; In making such determinations, the Administrator shall consider (among such other factors as it deems relevant in light of the specific type of Award) the contributions, responsibilities and other compensation of the particular key Employee, Independent Director or consultant.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">8.3.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Dividend Equivalents</u>.&#160; Any key Employee or consultant selected by the Committee or any Independent Director selected by the Board may be granted Dividend Equivalents.&#160; A Dividend Equivalent represents the right to receive payments in the amount of the dividend on a share of Common Stock.&#160; Dividend Equivalents shall be credited as of dividend payment dates, during the period between the date a Stock Appreciation Right, Deferred Stock or Performance Award is granted, and the date such Stock Appreciation Right, Deferred Stock or Performance Award is exercised, vests or expires, as determined by the Administrator. Such Dividend Equivalents shall be converted to cash or additional shares of Common Stock by such formula and at such time and subject to such limitations as may be determined by the Administrator, provided that in no event may the payment of such cash or additional shares of Common Stock be contingent upon a Holder&#146;s exercise of an Option or Stock Appreciation Right.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">8.4.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Stock Payments</u>.&#160; Any key Employee or consultant selected by the Committee or any Independent Director selected by the Board may receive Stock Payments in the manner determined from time to time by the Administrator.&#160; A Stock Payment represents the right to receive one share of Common Stock.&#160; The number of shares shall be determined by the Administrator and may be based upon the Performance Criteria or other specific performance criteria determined appropriate by the Administrator, determined on the date such Stock Payment is made or on any date thereafter.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">8.5.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Deferred Stock</u>.&#160; Any key Employee or consultant selected by the Committee or any Independent Director selected by the Board may be granted an Award of Deferred Stock in the manner determined from time to time by the Administrator.&#160; Deferred Stock represents the right to receive one share of Common Stock in the future.&#160; The number of shares of Deferred Stock shall be determined by the Administrator and may be linked to the satisfaction of Performance Criteria or other specific performance criteria determined to be appropriate by the</p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">15<a name="PB_15_000458_3020"></a></font></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Administrator, in each case on a specified date or dates or over any period or periods determined by the Administrator.&#160; Common Stock underlying a Deferred Stock Award will not be issued until the Deferred Stock Award has vested, pursuant to a vesting schedule or satisfaction of Performance Criteria or other specific performance criteria set by the Administrator.&#160; Unless otherwise provided by the Administrator, a Holder of Deferred Stock shall have no rights as a Company stockholder with respect to such Deferred Stock until such time as the Award has vested and the Common Stock underlying the Award has been issued.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">8.6.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Term</u>.&#160; The term of a Performance Award, Dividend Equivalent, Deferred Stock and/or Stock Payment shall be set by the Administrator.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">8.7.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Exercise or Purchase Price</u>.&#160; The Administrator may establish the exercise or purchase price, if any, of a Performance Award, shares of Deferred Stock, or shares received as a Stock Payment.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">8.8.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Exercise Upon Termination of Employment, Termination of Directorship or Termination of Consultancy</u>.&#160; A Performance Award, Dividend Equivalent, Deferred Stock and/or Stock Payment is exercisable or payable only while the Holder is an Employee, Independent Director or consultant; <i>provided, however</i>, that the Administrator in its sole and absolute discretion may provide that the Performance Award, Dividend Equivalent, Award of Deferred Stock and/or Stock Payment may be exercised or paid subsequent to a Termination of Employment, Termination of Consultancy or Termination of Directorship following a Change in Control.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">8.9.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Payment on Exercise</u>.&#160; Payment of the amount determined under Section 8.2 or 8.3 above shall be in cash, in Common Stock or a combination of both, as determined by the Administrator.&#160; To the extent any payment under this Article VIII is effected in Common Stock, it shall be made subject to satisfaction of all provisions of Section 6.3.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">8.10.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Performance Award, Dividend Equivalent, Deferred Stock and/or Stock Payment in Lieu of Cash Compensation</u>.&#160; Performance Awards, Dividend Equivalents, Deferred Stock and/or Stock Payments may be awarded under the Plan to Employees and consultants in lieu of cash bonuses which would otherwise be payable to such Employees and consultants and to Independent Directors in lieu of directors&#146; fees which would otherwise be payable to such Independent Directors, pursuant to such policies which may be adopted by the Administrator from time to time.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">8.11.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Section 409A Compliance</u>.&#160; The Common Stock or cash payment distributable to a Holder pursuant to a Performance Award, Dividend Equivalent, Deferred Stock and/or Stock Payment shall be distributed to the Holder no later than 2&#189; months following the end of the calendar year in which the Award vests or on a specified date or schedule or other distribution event permitted under Section 409A of the Code, in each case as set forth in the applicable Award Agreement.</p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">16<a name="PB_16_000530_7748"></a></font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">ARTICLE IX.</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">STOCK APPRECIATION RIGHTS</font></b></p>
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<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">9.1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Grant of Stock Appreciation Rights</u>.&#160; A Stock Appreciation Right entitles the Holder to a payment equal to the excess of the Fair Market Value of the number of shares of Common Stock underlying the Stock Appreciation Right as of the date the Award is exercised over such Fair Market Value as of the date the Award is granted.&#160; A Stock Appreciation Right may be granted to any key Employee or consultant selected by the Committee or any Independent Director selected by the Board.&#160; A Stock Appreciation Right may be granted (i) in connection and simultaneously with the grant of an Option or (ii) independent of an Option.&#160; A Stock Appreciation Right shall be subject to such terms and conditions not inconsistent with the Plan as the Administrator shall impose and shall be evidenced by an Award Agreement.&#160; Without limiting the generality of the preceding sentence, the Administrator may, in its discretion and on such terms as it deems appropriate, require as a condition of the grant of a Stock Appreciation Right to an Employee, Independent Director or consultant that the Employee, Independent Director or consultant surrender for cancellation some or all of the unexercised Stock Appreciation Rights or any other Awards or rights which have been previously granted to him/her under the Plan or otherwise.&#160; A Stock Appreciation Right, the grant of which is conditioned upon such surrender, may have an exercise price lower (or higher) than the exercise price of such surrendered Stock Appreciation Right or other Award, may cover the same (or a lesser or greater) number of shares as such surrendered Stock Appreciation Right or other Award, may contain such other terms as the Administrator deems appropriate, and shall be exercisable in accordance with its terms, without regard to the number of shares, price, exercise period, or any other term or condition of such surrendered Stock Appreciation Right or other Award.&#160; Notwithstanding the foregoing, the Committee shall not have authority to reprice Stock Appreciation Rights in accordance with this Section 9.1 without first obtaining stockholder approval for such repricing and the grant of a Stock Appreciation Right described in the previous sentence may not result in the imposition on the Holder of a 20% tax pursuant to Section 409A(a)(1)(B) of the Code.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">9.2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Coupled Stock Appreciation Rights</u>.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>A CSAR is a Stock Appreciation Right that is related to a particular Option and is exercisable only when and to the extent the related Option is exercisable.</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>A CSAR may be granted to the Grantee for no more than the number of shares subject to the simultaneously granted Option to which it is coupled.</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>A CSAR shall entitle the Grantee (or other person entitled to exercise the Option pursuant to the Plan) to surrender to the Company unexercised a portion of the Option to which the CSAR relates (to the extent then exercisable pursuant to its terms) and to receive from the Company in exchange therefore an amount determined by multiplying the difference obtained by subtracting the exercise price of the CSAR from the Fair Market Value of a share of Common Stock on the date of exercise of the CSAR by the number of shares of Common Stock with respect to which the CSAR shall have been exercised, subject to any limitations the Administrator may impose.</p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">17<a name="PB_17_000552_141"></a></font></p>
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<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">9.3.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Independent Stock Appreciation Rights</u>.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>An Independent Stock Appreciation Right (ISAR) is a Stock Appreciation Right that is unrelated to any Option.&#160; ISARs shall have terms set by the Administrator and shall cover such number of shares of Common Stock as the Administrator may determine; <i>provided, however,</i> that the term of an ISAR shall not be more than ten years from the date the ISAR is granted.&#160; An ISAR is exercisable only while the Grantee is an Employee, Independent Director or consultant; provided that the Administrator may determine that the ISAR may be exercised subsequent to Termination of Employment, Termination of Directorship or Termination of Consultancy without cause, or following a Change in Control, or because of the Grantee&#146;s retirement, death or disability, or otherwise, and provided further, that unless otherwise provided in the Award Agreement, ISARs shall become fully vested as of the date of a Change in Control.&#160; Notwithstanding the foregoing, the Administrator may not extend the term of any outstanding ISAR beyond the earlier of (1) the original expiration date of the ISAR and (2) the ten-year anniversary of the grant date of the ISAR.</p>
<p style="margin:0in 0in .0001pt 1.0in;text-align:justify;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>An ISAR shall entitle the Grantee (or other person entitled to exercise the ISAR pursuant to the Plan) to exercise all or a specified portion of the ISAR (to the extent then exercisable pursuant to its terms) and to receive from the Company an amount determined by multiplying the difference obtained by subtracting the exercise price per share of the ISAR from the Fair Market Value of a share of Common Stock on the date of exercise of the ISAR by the number of shares of Common Stock with respect to which the ISAR shall have been exercised, subject to any limitations the Administrator may impose.</p>
<p style="margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">9.4.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Payment and Limitations on Exercise</u>.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Payment of the amount determined under Sections 9.2(c) and 9.3(b) above shall be in cash, in Common Stock (based on its Fair Market Value as of the date the Stock Appreciation Right is exercised) or a combination of both, as determined by the Administrator.&#160; To the extent such payment is effected in Common Stock it shall be made subject to satisfaction of all provisions of Section 6.3 above pertaining to Options.</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Grantees of Stock Appreciation Rights may be required to comply with any timing or other restrictions with respect to the settlement or exercise of a Stock Appreciation Right, including a window-period limitation, as may be imposed in the discretion of the Administrator.</p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">ARTICLE X.</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">SECTION 162(m) PERFORMANCE BASED COMPENSATION</font></b></p>
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<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">10.1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>General Requirements</u>.&#160; To the extent that a Performance Award, a Stock Payment or an Award of Restricted Stock or Deferred Stock is intended to qualify as &#147;performance-based compensation&#148; for purposes of Section 162(m) of the Code, such Award must (1) be granted by the Committee, (2) be earned based on the achievement over a performance period established by</p>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">the Committee of objective performance goals as are established by the Committee no later than 90 days after the commencement of the performance period and not after 25% of the performance period has elapsed and (3) be paid only after the Committee has certified, after the completion of the performance period, that the performance goals have been met.&#160; To the extent that an Award of Options or Stock Appreciation Rights is intended to qualify as &#147;performance-based compensation&#148; for purposes of Section 162(m) of the Code, such Award must be granted by the Committee.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">10.2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Performance Goals</u>.&#160; The objective performance goals shall be stated as specific amounts of, or specific changes in, one or more of the Performance Criteria. The objective performance goals need not be the same for different performance periods and for any performance period may be stated: (a) on an absolute basis or relative to the performance of other companies or of a specified index or indices, or be based on any combination of the foregoing and (b) separately for one or more of the Holders, collectively for the entire group of Holders, or in any combination of the two.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">10.3.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Committee Requirements</u>.&#160; Determinations by the Committee as to the establishment of performance goals, the amount potentially payable in respect of, the level of actual achievement of the specified performance goals relating to any Performance Award, a Stock Payment or an Award of Restricted Stock or Deferred Stock intended to qualify as &#147;performance-based compensation&#148; for purposes of Section 162(m) of the Code, and the amount of any such final Award shall be recorded in writing. Specifically, the Committee shall certify in writing, in a manner conforming to applicable regulations under Section 162(m), prior to settlement of each such Award that the performance objectives relating to the such Award and other material terms of such Award upon which settlement of the Award was conditioned have been satisfied.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">ARTICLE XI.</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">ADMINISTRATION</font></b></p>
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<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">11.1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Compensation Committee</u>.&#160; The Compensation Committee (or another committee or a subcommittee of the Board assuming the functions of the Committee under the Plan) shall consist solely of two or more Independent Directors appointed by and holding office at the pleasure of the Board, each of whom is both a &#147;non-employee director&#148; as defined by Rule 16b-3 and an &#147;outside director&#148; for purposes of Section 162(m) of the Code.&#160; Appointment of Committee members shall be effective upon acceptance of appointment.&#160; Committee members may resign at any time by delivering written notice to the Board.&#160; Vacancies in the Committee may be filled by the Board.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">11.2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Duties and Powers of Committee</u>.&#160; It shall be the duty of the Committee to conduct the general administration of the Plan in accordance with its provisions.&#160; The Committee shall have the power to interpret the Plan and the Award Agreements, and to adopt such rules for the administration, interpretation, and application of the Plan as are consistent therewith and to interpret, amend or revoke any such rules.&#160; Notwithstanding the foregoing, the full Board, acting by a majority of its members in office, shall conduct the general administration of the Plan with respect to Awards granted to Independent Directors.&#160; In its absolute discretion, the Board may at any time and from time to time exercise any and all rights and duties of the Committee under the Plan, except with respect to matters which under Rule 16b-3, Section 162(m) or other applicable law (including stock exchange rules), are required to be determined in the sole discretion of the Committee.</p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">19<a name="PB_19_033122_2897"></a></font></p>
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<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">11.3.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Compensation; Professional Assistance; Good Faith Actions</u>.&#160; Members of the Committee shall receive such compensation for their services as may be determined by the Board.&#160; All expenses and liabilities which members of the Committee incur in connection with the administration of the Plan shall be borne by the Company.&#160; The Committee may, with the approval of the Board, employ attorneys, consultants, accountants, appraisers, brokers, or other persons.&#160; The Committee, the Company and the Company&#146;s officers and Directors shall be entitled to rely upon the advice, opinions or valuations of any such persons.&#160; All actions taken and all interpretations and determinations made by the Committee or the Board in good faith shall be final and binding upon all Holders, the Company and all other interested persons.&#160; No members of the Committee or Board shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or Awards, and all members of the Committee and the Board shall be fully protected by the Company in respect of any such action, determination or interpretation.</p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">ARTICLE XII.</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">MISCELLANEOUS PROVISIONS</font></b></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">12.1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Not Transferable</u>.&#160; No Award under the Plan may be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution, unless and until such Award has been exercised, or the shares underlying such Award have been issued, and all restrictions applicable to such shares have lapsed.&#160; No Option, Restricted Stock, Deferred Stock, Performance Award, Stock Appreciation Right, Dividend Equivalent or Stock Payment or interest or right therein shall be liable for the debts, contracts or engagements of the Holder or his/her successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect, except to the extent that such disposition is permitted by the preceding sentence.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">During the lifetime of the Holder, only he may exercise an Option or other Award (or any portion thereof) granted to him/her under the Plan.&#160; After the death of the Holder, any exercisable portion of an Option or other Award may, prior to the time when such portion becomes unexercisable under the Plan or the applicable Award Agreement, be exercised by his/her personal representative or by any person empowered to do so under the deceased Holder&#146;s will or under the then applicable laws of descent and distribution.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">12.2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Amendment, Suspension or Termination of the Plan</u>.&#160; Except as otherwise provided in this Section 12.2, the Plan may be wholly or partially amended or otherwise modified, suspended or terminated at any time or from time to time by the Board.&#160; However, without approval of the Company&#146;s stockholders given within twelve months before or after the action by the Board, no action of the Board may, except as provided in Section 12.3, increase the limits imposed in Section 2.1 on the maximum number of shares which may be issued under the</p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">20<a name="PB_20_033122_3020"></a></font></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Plan.&#160; No amendment, suspension or termination of the Plan shall, without the consent of the Holder materially impair any rights or obligations under any Award theretofore granted or awarded, unless the Award itself otherwise expressly so provides.&#160; No Awards may be granted or awarded during any period of suspension or after termination of the Plan, and in no event may any Incentive Stock Option be granted under the Plan after the first to occur of the following events:</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The expiration of ten years from the date the Plan is adopted by the Board; or</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The expiration of ten years from the date the Plan is approved by the Company&#146;s stockholders under Section 12.4.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">12.3.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Changes in Common Stock or Assets of the Company, Acquisition or Liquidation of the Company, Change in Control and Other Corporate Events</u>.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Subject to Section 12.3(d), in the event that the Administrator determines that any dividend or other distribution (whether in the form of cash, Common Stock, other securities, or other property), recapitalization, reclassification, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, liquidation, dissolution, or sale, transfer, exchange or other disposition of all or substantially all of the assets of the Company (including, but not limited to, a Corporate Transaction), or exchange of Common Stock or other securities of the Company, issuance of warrants or other rights to purchase Common Stock or other securities of the Company, or other similar corporate transaction or event, in the Administrator&#146;s opinion, affects the Common Stock such that an adjustment is determined by the Administrator to be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan or with respect to an Award, then the Administrator shall, in such manner as it may deem equitable, adjust any or all of:</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in .5in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the number and kind of shares of Common Stock (or other securities or property) with respect to which Awards may be granted or awarded (including, but not limited to, adjustments of the limitations in Section 2.1 on the maximum number and kind of shares which may be issued and adjustments of the Award Limit),</p>
<p style="margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in .5in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the number and kind of shares of Common Stock (or other securities or property) subject to outstanding Options, Performance Awards, Stock Appreciation Rights, Dividend Equivalents, or Stock Payments, and in the number and kind of shares of outstanding Restricted Stock or Deferred Stock, and</p>
<p style="margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the grant or exercise price with respect to any Award.</p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">21<a name="PB_21_033122_7748"></a></font></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Subject to Sections 12.3(b)(vii) and 12.3(d), in the event of any Corporate Transaction or other transaction or event described in Section 12.3(a) or any unusual or nonrecurring transactions or events affecting the Company, any affiliate of the Company, or the financial statements of the Company or any affiliate, or of changes in applicable laws, regulations, or accounting principles, the Administrator, in its sole and absolute discretion, and on such terms and conditions as it deems appropriate, either by the terms of the Award or by action taken prior to the occurrence of such transaction or event, is hereby authorized to take any one or more of the following actions whenever the Administrator determines that such action is appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan or with respect to any Award under the Plan, to facilitate such transactions or events or to give effect to such changes in laws, regulations or principles:</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in .5in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To provide for either the purchase of any such Award for an amount of cash equal to the amount that could have been attained upon the exercise of such Award or realization of the Holder&#146;s rights had such Award been currently exercisable or payable or fully vested or the replacement of such Award with other rights or property selected by the Administrator in its sole discretion;</p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in .5in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To provide that the Award cannot vest, be exercised or become payable after such event;</p>
<p style="margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in .5in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To provide that such Award shall be exercisable as to all shares covered thereby, notwithstanding anything to the contrary in (i) Articles V, VII, VIII or IX or (ii) the provisions of such Award;</p>
<p style="margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in .5in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(iv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To provide that such Award be assumed by the successor or survivor corporation, or a parent or subsidiary thereof, or shall be substituted for by similar options, rights or Awards covering the stock of the successor or survivor corporation, or a parent or subsidiary thereof, with appropriate adjustments as to the number and kind of shares and prices;</p>
<p style="margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in .5in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(v)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To make adjustments in the number and type of shares of Common Stock (or other securities or property) subject to outstanding Awards, and in the number and kind of outstanding Restricted Stock or Deferred Stock and/or in the terms and conditions of (including the grant or exercise price), and the criteria included in, outstanding Awards and Awards which may be granted in the future;</p>
<p style="margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in .5in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(vi)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To provide that, for a specified period of time prior to such event, the restrictions imposed under an Award Agreement upon some or all shares of Restricted Stock or Deferred Stock may be terminated, and, in the case of Restricted Stock, some or all shares of such Restricted Stock may cease to be subject to repurchase under Section 7.5 or forfeiture under Section 7.4 after such event; and</p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">22<a name="PB_22_033122_141"></a></font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in .5in .0001pt 1.0in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(vii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>None of the foregoing discretionary actions taken under this Section 12.3(b) shall be permitted with respect to Options granted under Section 4.5 to Independent Directors to the extent that such discretion would be inconsistent with the applicable exemptive conditions of Rule 16b-3.&#160; In the event of a Change in Control or a Corporate Transaction, to the extent that the Board does not have the ability under Rule 16b-3 to take or to refrain from taking the discretionary actions set forth in Section 12.3(b)(iii) above, each Option granted to an Independent Director shall be exercisable as to all shares covered thereby upon such Change in Control or during the five days immediately preceding the consummation of such Corporate Transaction and subject to such consummation, notwithstanding anything to the contrary in Section 5.4 or the vesting schedule of such Options.&#160; In the event of a Corporate Transaction, to the extent that the Board does not have the ability under Rule 16b-3 to take or to refrain from taking the discretionary actions set forth in Section 12.3(b)(ii) above, no Option granted to an Independent Director may be exercised following such Corporate Transaction unless such Option is, in connection with such Corporate Transaction, either assumed by the successor or survivor corporation (or parent or subsidiary thereof) or replaced with a comparable right with respect to shares of the capital stock of the successor or survivor corporation (or parent or subsidiary thereof).</p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Subject to Section 12.3(d) and 12.8, the Administrator may, in its discretion, include such further provisions and limitations in any Award, agreement, certificate or book entry account, as it may deem equitable and in the best interests of the Company.</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>No adjustment or action described in this Section 12.3 or in any other provision of the Plan shall be authorized to the extent that such adjustment or action would cause the Plan to violate Section 422(b)(1) of the Code or would result in the imposition on any Holder of a 20% tax pursuant to Section 409A(a)(1)(B) of the Code.&#160; Furthermore, no such adjustment or action shall be authorized to the extent such adjustment or action would result in short-swing profits liability under Section 16 or violate the exemptive conditions of Rule 16b-3 unless the Administrator determines that the Award is not to comply with such exemptive conditions.&#160; The number of shares of Common Stock subject to any Award shall always be rounded to the next whole number.</p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">12.4.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Approval of Plan by Stockholders</u>.&#160; The Plan will be submitted for the approval of the Company&#146;s stockholders within twelve months after the date of the Board&#146;s initial adoption of the Plan. Awards may be granted or awarded prior to such stockholder approval; <i>provided </i>that such Awards shall not be exercisable nor shall such Awards vest prior to the time when the Plan is approved by the stockholders; and <i>provided further,</i> that if such approval has not been obtained at the end of said twelve-month period, all Awards previously granted or awarded under the Plan shall thereupon be canceled and become null and void.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">12.5.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Tax Withholding</u>.&#160; The Company shall be entitled to require payment in cash or deduction from other compensation payable to each Holder of any sums required by federal, state or local tax law to be withheld with respect to the issuance, vesting, exercise or payment of any Award.&#160; The Administrator may in its discretion and in satisfaction of the foregoing requirement allow such Holder to elect to have the Company withhold shares of Common Stock otherwise issuable under such Award (or allow the return of shares of Common Stock) having a Fair Market Value equal to the sums required to be withheld.</p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">23<a name="PB_23_033122_7608"></a></font></p>
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<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">12.6.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Forfeiture Provisions</u>.&#160; Pursuant to its general authority to determine the terms and conditions applicable to Awards under the Plan, the Administrator shall have the right (to the extent consistent with the applicable exemptive conditions of Rule 16b-3) to provide, in the terms of Awards made under the Plan, or to require a Holder to agree by separate written instrument, that (i) any proceeds, gains or other economic benefit actually or constructively received by the Holder upon any receipt or exercise of the Award, or upon the receipt or resale of any Common Stock underlying the Award, must be paid to the Company, and (ii) the Award shall terminate and any unexercised portion of the Award (whether or not vested) shall be forfeited, if (a) a Termination of Employment, Termination of Consultancy or Termination of Directorship occurs prior to a specified date, or within a specified time period following receipt or exercise of the Award, or (b) the Holder at any time, or during a specified time period, engages in any activity in competition with the Company, or which is inimical, contrary or harmful to the interests of the Company, as further defined by the Committee (or the Board, as applicable) or the Holder incurs a Termination of Employment, Termination of Consultancy or Termination of Directorship for cause.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">12.7.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Limitations Applicable to Section 16 Persons and Performance-Based Compensation</u>.&#160; Notwithstanding any other provision of the Plan, the Plan, and any Award granted or awarded to any individual who is then subject to Section 16 of the Exchange Act, shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule.&#160; To the extent permitted by applicable law, the Plan and Awards granted or awarded hereunder shall be deemed amended to the extent necessary to conform to such applicable exemptive rule.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">12.8.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Effect of Plan Upon Options and Compensation Plans</u>.&#160; The adoption of the Plan shall not affect any other compensation or incentive plans in effect for the Company or any Subsidiary.&#160; Nothing in the Plan shall be construed to limit the right of the Company (i) to establish any other forms of incentives or compensation for Employees, Independent Directors or consultants of the Company or any Subsidiary or (ii) to grant or assume options or other rights or Awards otherwise than under the Plan in connection with any proper corporate purpose including but not by way of limitation, the grant or assumption of options in connection with the acquisition by purchase, lease, merger, consolidation or otherwise, of the business, stock or assets of any corporation, partnership, limited liability company, firm or association.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">12.9.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Compliance with Laws</u>.&#160; The Plan, the granting and vesting of Awards under the Plan and the issuance and delivery of shares of Common Stock and the payment of money under the Plan or under Awards granted or awarded hereunder are subject to compliance with all applicable federal and state laws, rules and regulations (including but not limited to state and federal securities law and federal margin requirements) and to such approvals by any listing, regulatory or governmental authority as may, in the opinion of counsel for the Company, be necessary or advisable in connection therewith.&#160; Any securities delivered under the Plan shall be subject to such restrictions, and the person acquiring such securities shall, if requested by the</p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">24<a name="PB_24_033122_8146"></a></font></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Company, provide such assurances and representations to the Company as the Company may deem necessary or desirable to assure compliance with all applicable legal requirements.&#160; To the extent permitted by applicable law, the Plan and Awards granted or awarded hereunder shall be deemed amended to the extent necessary to conform to such laws, rules and regulations.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">12.10.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Titles</u>.&#160; Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of the Plan.</p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">12.11.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Governing Law</u>.&#160; The Plan and any agreements hereunder shall be administered, interpreted and enforced under the internal laws of the State of Maryland without regard to conflicts of laws thereof.</p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">25<a name="PB_25_033122_7091"></a></font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Exhibit&nbsp;31.1</font></b></p>
<p align="right" style="margin:0in 0in .0001pt 5.5in;text-align:right;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">PURSUANT TO SECTION&nbsp;302 OF THE SARBANES-OXLEY ACT OF 2002</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">I, Wendy L. Simpson, certify that:</font></p>
<p style="margin:2.0pt 0in .0001pt .55in;text-align:justify;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">I have reviewed this quarterly report on Form&nbsp;10-Q of LTC Properties,&nbsp;Inc.;</font></p>
<p style="margin:2.0pt 0in .0001pt .55in;text-align:justify;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</font></p>
<p style="margin:2.0pt 0in .0001pt .55in;text-align:justify;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">3.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</font></p>
<p style="margin:2.0pt 0in .0001pt .55in;text-align:justify;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">4.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">The registrant&#146;s other certifying officer(s)&nbsp;and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules&nbsp;13a-15(e)&nbsp;and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules&nbsp;13a-15(f)&nbsp;and 15d-15(f)) for the registrant and have:</font></p>
<p style="margin:2.0pt .25in .0001pt .85in;text-align:justify;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</font></p>
<p style="margin:2.0pt .25in .0001pt .85in;text-align:justify;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</font></p>
<p style="margin:2.0pt .25in .0001pt .85in;text-align:justify;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Evaluated the effectiveness of the registrant&#146;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</font></p>
<p style="margin:2.0pt .25in .0001pt .85in;text-align:justify;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Disclosed in this report any change in the registrant&#146;s internal control over financial reporting that occurred during the registrant&#146;s most recent fiscal quarter (the registrant&#146;s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting; and</font></p>
<p style="margin:0in 0in .0001pt .85in;text-align:justify;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:4.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .55in;text-align:justify;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">5.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">The registrant&#146;s other certifying officer(s)&nbsp;and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&#146;s auditors and the audit committee of the registrant&#146;s board of directors (or persons performing the equivalent functions):</font></p>
<p style="margin:2.0pt .2in .0001pt .85in;text-align:justify;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&#146;s ability to record, process, summarize and report financial information; and</font></p>
<p style="margin:2.0pt .2in .0001pt .85in;text-align:justify;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#146;s internal control over financial reporting.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;"><u><font size="2" face="Times New Roman" style="font-size:11.0pt;">/s/ WENDY L. SIMPSON</font></u></p>
<p style="margin:0in 0in .0001pt .25in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Wendy L. Simpson</font></p>
<p style="margin:0in 0in .0001pt .25in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Chief Executive Officer and President</font></p>
<p style="margin:0in 0in .0001pt .25in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(Principal Executive Officer)</font></p>
<p style="margin:0in 0in .0001pt .25in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">April&nbsp;30, 2013</font></p>
<p style="margin:0in 0in .0001pt .25in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Exhibit&nbsp;31.2</font></b></p>
<p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">CERTIFICATION OF THE CHIEF FINANCIAL OFFICER</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">PURSUANT TO SECTION&nbsp;302 OF THE SARBANES-OXLEY ACT OF 2002</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">I, Pamela Shelley-Kessler, certify that:</font></p>
<p style="margin:2.0pt 0in .0001pt 40.3pt;text-align:justify;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">I have reviewed this quarterly report on Form&nbsp;10-Q of LTC Properties,&nbsp;Inc.;</font></p>
<p style="margin:2.0pt 0in .0001pt 40.3pt;text-align:justify;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</font></p>
<p style="margin:2.0pt 0in .0001pt 40.3pt;text-align:justify;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">3.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</font></p>
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<p style="margin:0in 0in .0001pt 63.0pt;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 18.7pt;"><u><font size="2" face="Times New Roman" style="font-size:11.0pt;">/s/ PAMELA SHELLEY-KESSLER</font></u></p>
<p style="margin:0in 0in .0001pt 18.7pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Pamela Shelley-Kessler</font></p>
<p style="margin:0in 0in .0001pt 18.7pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Executive Vice President, Chief Financial Officer</font></p>
<p style="margin:0in 0in .0001pt 18.7pt;text-indent:5.75pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">and Corporate Secretary</font></p>
<p style="margin:0in 0in .0001pt 18.7pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(Principal Financial and Accounting Officer)</font></p>
<p style="margin:0in 0in .0001pt 18.7pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">April&nbsp;30, 2013</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Exhibit&nbsp;32</font></b></p>
<p align="right" style="margin:0in 0in .0001pt 5.5in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">CERTIFICATIONS PURSUANT TO 18 U.S.C. SECTION&nbsp;1350, AS ADOPTED PURSUANT TO SECTION&nbsp;906 OF THE SARBANES-OXLEY ACT OF 2002</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Pursuant to 18 U.S.C. 1350, as adopted pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act of 2002, each of the undersigned officers of LTC Properties,&nbsp;Inc. (the &#147;Company&#148;) hereby certifies with respect to the Quarterly Report on Form&nbsp;10-Q of the Company for the quarter ended March&nbsp;31, 2013 as filed with the Securities and Exchange Commission (the&nbsp;&#147;Report&#148;) that to her knowledge:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .85in;text-indent:-.35in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">( 1 )</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">The Report fully complies with the requirements of section 13(a)&nbsp;or 15(d)&nbsp;of the Securities and Exchange Act of 1934; and</font></p>
<p style="margin:0in 0in .0001pt .85in;text-indent:-.35in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .85in;text-indent:-.35in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">( 2 )</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</font></p>
<p style="margin:0in 0in .0001pt .85in;text-indent:-.35in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .85in;text-indent:-.35in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:11.0pt;">/s/ WENDY L. SIMPSON</font></u></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Wendy L. Simpson</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Chief Executive Officer and President</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">April&nbsp;30, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:11.0pt;">/s/ PAMELA SHELLEY-KESSLER</font></u></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Pamela Shelley-Kessler</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Executive Vice President, Chief Financial Officer</font></p>
<p style="margin:0in 0in .0001pt;text-indent:6.0pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">and Corporate Secretary</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">April&nbsp;30, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">The foregoing certification is being furnished (but not filed) solely pursuant to 18 U.S.C. Section&nbsp;1350, as adopted pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act of 2002.</font></i></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
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  <ltc:BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties id="Tag65" decimals="-3" contextRef="D2013Q1_IndependentLivingPropertyMember" unitRef="USD">125000</ltc:BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties>
  <ltc:NumberOfPropertiesUnderInvestmentCommitments id="Tag66" decimals="INF" contextRef="D2013Q1_AssistedLivingAndMemoryCarePropertiesMember" unitRef="Property">2</ltc:NumberOfPropertiesUnderInvestmentCommitments>
  <ltc:CapitalImprovementCommitmentsAdditionalAmountFunded id="Tag67" decimals="-3" contextRef="D2013Q1" unitRef="USD">117000</ltc:CapitalImprovementCommitmentsAdditionalAmountFunded>
  <us-gaap:DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax id="Tag69" decimals="0" contextRef="D2012Q1_TX_SkilledNursingPropertiesWith140UnitsMember" unitRef="USD">16000</us-gaap:DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax>
  <us-gaap:RealEstateInvestments id="Tag70" decimals="-3" contextRef="I2013Q1_MortgageLoansOnRealEstateMember_AssistedLivingPropertiesMember" unitRef="USD">12245000</us-gaap:RealEstateInvestments>
  <us-gaap:RealEstateInvestments id="Tag71" decimals="-3" contextRef="I2013Q1_MortgageLoansOnRealEstateMember_SkilledNursingPropertiesMember" unitRef="USD">25097000</us-gaap:RealEstateInvestments>
  <us-gaap:RealEstateInvestments id="Tag72" decimals="-3" contextRef="I2013Q1_MortgageLoansOnRealEstateMember" unitRef="USD">40142000</us-gaap:RealEstateInvestments>
  <us-gaap:RealEstateInvestments id="Tag73" decimals="-3" contextRef="I2013Q1_MortgageLoansOnRealEstateMember_RangeOfCarePropertiesMember" unitRef="USD">2800000</us-gaap:RealEstateInvestments>
  <ltc:RealEstateInvestmentsPercentage id="Tag74" decimals="3" contextRef="I2013Q1_MortgageLoansOnRealEstateMember_AssistedLivingPropertiesMember" unitRef="Pure">0.305</ltc:RealEstateInvestmentsPercentage>
  <ltc:RealEstateInvestmentsPercentage id="Tag75" decimals="3" contextRef="I2013Q1_MortgageLoansOnRealEstateMember_SkilledNursingPropertiesMember" unitRef="Pure">0.625</ltc:RealEstateInvestmentsPercentage>
  <ltc:RealEstateInvestmentsPercentage id="Tag76" decimals="3" contextRef="I2013Q1_MortgageLoansOnRealEstateMember" unitRef="Pure">1.000</ltc:RealEstateInvestmentsPercentage>
  <ltc:RealEstateInvestmentsPercentage id="Tag77" decimals="3" contextRef="I2013Q1_MortgageLoansOnRealEstateMember_RangeOfCarePropertiesMember" unitRef="Pure">0.070</ltc:RealEstateInvestmentsPercentage>
  <us-gaap:MortgageLoansOnRealEstateNumberOfLoans id="Tag78" decimals="INF" contextRef="D2013Q1_MortgageLoansOnRealEstateMember_AssistedLivingPropertiesMember" unitRef="Loan">3</us-gaap:MortgageLoansOnRealEstateNumberOfLoans>
  <us-gaap:MortgageLoansOnRealEstateNumberOfLoans id="Tag79" decimals="INF" contextRef="D2013Q1_MortgageLoansOnRealEstateMember_SkilledNursingPropertiesMember" unitRef="Loan">15</us-gaap:MortgageLoansOnRealEstateNumberOfLoans>
  <us-gaap:MortgageLoansOnRealEstateNumberOfLoans id="Tag80" decimals="INF" contextRef="D2013Q1_MortgageLoansOnRealEstateMember" unitRef="Loan">19</us-gaap:MortgageLoansOnRealEstateNumberOfLoans>
  <us-gaap:MortgageLoansOnRealEstateNumberOfLoans id="Tag81" decimals="INF" contextRef="D2013Q1_MortgageLoansOnRealEstateMember_RangeOfCarePropertiesMember" unitRef="Loan">1</us-gaap:MortgageLoansOnRealEstateNumberOfLoans>
  <us-gaap:NumberOfRealEstateProperties id="Tag82" decimals="INF" contextRef="I2013Q1_MortgageLoansOnRealEstateMember_AssistedLivingPropertiesMember" unitRef="Property">8</us-gaap:NumberOfRealEstateProperties>
  <us-gaap:NumberOfRealEstateProperties id="Tag83" decimals="INF" contextRef="I2013Q1_MortgageLoansOnRealEstateMember_SkilledNursingPropertiesMember" unitRef="Property">17</us-gaap:NumberOfRealEstateProperties>
  <us-gaap:NumberOfRealEstateProperties id="Tag84" decimals="INF" contextRef="I2013Q1_MortgageLoansOnRealEstateMember" unitRef="Property">26</us-gaap:NumberOfRealEstateProperties>
  <us-gaap:NumberOfRealEstateProperties id="Tag85" decimals="INF" contextRef="I2013Q1_MortgageLoansOnRealEstateMember_RangeOfCarePropertiesMember" unitRef="Property">1</us-gaap:NumberOfRealEstateProperties>
  <ltc:PropertiesNumberOfUnitsOrBeds id="Tag86" decimals="INF" contextRef="I2013Q1_SkilledNursingFacilityBedsMember_MortgageLoansOnRealEstateMember_SkilledNursingPropertiesMember" unitRef="Bed">1861</ltc:PropertiesNumberOfUnitsOrBeds>
  <ltc:PropertiesNumberOfUnitsOrBeds id="Tag87" decimals="INF" contextRef="I2013Q1_SkilledNursingFacilityBedsMember_MortgageLoansOnRealEstateMember" unitRef="Bed">1960</ltc:PropertiesNumberOfUnitsOrBeds>
  <ltc:PropertiesNumberOfUnitsOrBeds id="Tag88" decimals="INF" contextRef="I2013Q1_AssistedLivingFacilityUnitsMember_MortgageLoansOnRealEstateMember_AssistedLivingPropertiesMember" unitRef="Unit">211</ltc:PropertiesNumberOfUnitsOrBeds>
  <ltc:PropertiesNumberOfUnitsOrBeds id="Tag89" decimals="INF" contextRef="I2013Q1_AssistedLivingFacilityUnitsMember_MortgageLoansOnRealEstateMember" unitRef="Unit">285</ltc:PropertiesNumberOfUnitsOrBeds>
  <ltc:PropertiesNumberOfUnitsOrBeds id="Tag90" decimals="INF" contextRef="I2013Q1_SkilledNursingFacilityBedsMember_MortgageLoansOnRealEstateMember_RangeOfCarePropertiesMember" unitRef="Bed">99</ltc:PropertiesNumberOfUnitsOrBeds>
  <ltc:PropertiesNumberOfUnitsOrBeds id="Tag91" decimals="INF" contextRef="I2013Q1_AssistedLivingFacilityUnitsMember_MortgageLoansOnRealEstateMember_RangeOfCarePropertiesMember" unitRef="Unit">74</ltc:PropertiesNumberOfUnitsOrBeds>
  <ltc:RealEstateInvestmentsPerUnit id="Tag92" decimals="2" contextRef="I2013Q1_MortgageLoansOnRealEstateMember_SkilledNursingPropertiesMember" unitRef="USDPerBedUnit">13.49</ltc:RealEstateInvestmentsPerUnit>
  <ltc:RealEstateInvestmentsPerUnit id="Tag93" decimals="2" contextRef="I2013Q1_MortgageLoansOnRealEstateMember_AssistedLivingPropertiesMember" unitRef="USDPerBedUnit">58.03</ltc:RealEstateInvestmentsPerUnit>
  <ltc:RealEstateInvestmentsPerUnit id="Tag94" decimals="2" contextRef="I2013Q1_MortgageLoansOnRealEstateMember_RangeOfCarePropertiesMember" unitRef="USDPerBedUnit">16.18</ltc:RealEstateInvestmentsPerUnit>
  <ltc:RealEstateInvestmentsNumberOfStates id="Tag95" decimals="INF" contextRef="I2013Q1_MortgageLoansOnRealEstateMember" unitRef="State">8</ltc:RealEstateInvestmentsNumberOfStates>
  <ltc:RealEstateInvestmentsNumberOfOperatorsInStates id="Tag96" decimals="INF" contextRef="I2013Q1_MortgageLoansOnRealEstateMember" unitRef="Operator">11</ltc:RealEstateInvestmentsNumberOfOperatorsInStates>
  <us-gaap:MortgageLoansOnRealEstateMinimumInterestRateInRange id="Tag97" decimals="INF" contextRef="D2013Q1_MortgageLoansOnRealEstateMember" unitRef="Pure">0.070</us-gaap:MortgageLoansOnRealEstateMinimumInterestRateInRange>
  <us-gaap:MortgageLoansOnRealEstateMaximumInterestRateInRange id="Tag98" decimals="INF" contextRef="D2013Q1_MortgageLoansOnRealEstateMember" unitRef="Pure">0.135</us-gaap:MortgageLoansOnRealEstateMaximumInterestRateInRange>
  <ltc:MortgageLoansOnRealEstateAmortizationPeriod id="Tag99" contextRef="D2013Q1_MortgageLoansOnRealEstateMember_MinimumMember">P20Y</ltc:MortgageLoansOnRealEstateAmortizationPeriod>
  <ltc:MortgageLoansOnRealEstateAmortizationPeriod id="Tag100" contextRef="D2013Q1_MortgageLoansOnRealEstateMember_MaximumMember">P25Y</ltc:MortgageLoansOnRealEstateAmortizationPeriod>
  <ltc:MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints id="Tag101" decimals="INF" contextRef="D2013Q1_MortgageLoansOnRealEstateMember_MinimumMember" unitRef="Pure">0.001</ltc:MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints>
  <ltc:MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints id="Tag102" decimals="INF" contextRef="D2013Q1_MortgageLoansOnRealEstateMember_MaximumMember" unitRef="Pure">0.0025</ltc:MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints>
  <ltc:LoanCommitments id="Tag103" decimals="0" contextRef="I2013Q1_MortgageLoansOnRealEstateMember" unitRef="USD">10600000</ltc:LoanCommitments>
  <ltc:LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice id="Tag104" decimals="0" contextRef="D2013Q1_SkilledNursingPropertiesWith106UnitsMember" unitRef="USD">13500000</ltc:LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice>
  <ltc:TermOfRightToPurchaseReplacementFacility id="Tag105" contextRef="D2013Q1_SkilledNursingPropertiesWith106UnitsMember">P18M</ltc:TermOfRightToPurchaseReplacementFacility>
  <ltc:LoanCommitmentsOpen id="Tag106" decimals="0" contextRef="I2013Q1_MortgageLoansOnRealEstateMember" unitRef="USD">7070000</ltc:LoanCommitmentsOpen>
  <ltc:LoanCommitmentsAmountInvested id="Tag107" decimals="0" contextRef="D2013Q1_MortgageLoansOnRealEstateMember" unitRef="USD">910000</ltc:LoanCommitmentsAmountInvested>
  <ltc:MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived id="Tag108" decimals="0" contextRef="D2013Q1_MortgageLoansOnRealEstateMember" unitRef="USD">462000</ltc:MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived>
  <ltc:MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived id="Tag109" decimals="0" contextRef="D2012Q1_MortgageLoansOnRealEstateMember" unitRef="USD">718000</ltc:MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived>
  <ltc:ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock id="Tag110" contextRef="D2013Q1">&lt;div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt" size="2"&gt;The following table summarizes our investments in owned properties at March&amp;#160;31, 2013 &lt;i&gt;(dollar amounts in thousands)&lt;/i&gt;:&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="WIDTH: 704px; BORDER-COLLAPSE: collapse; HEIGHT: 155px" cellspacing="0" cellpadding="0" width="704" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 24.5%; PADDING-TOP: 0in" valign="bottom" width="24%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11.5%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Number&amp;#160;of&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Investment&lt;br /&gt;
per&lt;br /&gt;
Bed/Unit&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 24.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="24%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Type&amp;#160;of&amp;#160;Property&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Gross&lt;br /&gt;
Investments&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Percentage&amp;#160;of&lt;br /&gt;
Investments&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;of&lt;br /&gt;
Properties&lt;/font&gt; &lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(1)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;SNF&lt;br /&gt;
Beds&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.5%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;ALF&lt;br /&gt;
Units&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.5%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 24.5%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="24%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Skilled Nursing&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$448,010&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.5%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;49.4%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;73&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;8,435&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="10%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$53.11&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 24.5%; PADDING-TOP: 0in" valign="bottom" width="24%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Assisted Living&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;379,874&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11.5%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;41.9%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;96&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;4,502&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$84.38&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 24.5%; PADDING-TOP: 0in" valign="bottom" width="24%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Range of Care&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;43,907&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 11.5%; PADDING-TOP: 0in" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;4.8%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;8&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;634&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;274&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$48.36&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 24.5%; PADDING-TOP: 0in" valign="bottom" width="24%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Under Development&lt;/font&gt; &lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(2)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;22,347&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11.5%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;2.5%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 24.5%; PADDING-TOP: 0in" valign="bottom" width="24%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Schools&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;12,444&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;1.4%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 24.5%; PADDING-TOP: 0in" valign="bottom" width="24%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Totals&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$906,582&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;100.0%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;179&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;9,069&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;4,776&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
&lt;p style="MARGIN: 0in 0in 0pt 13.5pt"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 31.5pt; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1"&gt;(1)&lt;/font&gt;&lt;font style="FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt; &lt;font style="FONT-SIZE: 8pt" size="1"&gt;We have investments in 26 states leased to 35 different operators.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 31.5pt; TEXT-INDENT: -0.25in"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 31.5pt; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1"&gt;(2)&lt;/font&gt;&lt;font style="FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt; &lt;font style="FONT-SIZE: 8pt" size="1"&gt;Includes a MC development with 60 units and two combination ALF and MC developments with a total of 158 units, a 143-bed SNF development and a 120-bed SNF redevelopment project.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 31.5pt; TEXT-INDENT: -0.25in"&gt;&amp;#160;&lt;/p&gt;&lt;/div&gt;
</ltc:ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock>
  <ltc:ScheduleOfInvestmentCommitmentsTableTextBlock id="Tag111" contextRef="D2013Q1">&lt;div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;In addition, the following table summarizes our investment commitments as of March&amp;#160;31, 2013, excluding the $5,000,000 per year commitment, and year to date funding on our development, redevelopment, renovation and expansion projects &lt;i&gt;(excludes capitalized interest, dollar amounts in thousands)&lt;/i&gt;:&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="MARGIN-LEFT: 0.5in; WIDTH: 655px; BORDER-COLLAPSE: collapse; HEIGHT: 85px" cellspacing="0" cellpadding="0" width="655" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.76%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;Type&amp;#160;of&amp;#160;Property&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;Investment&lt;br /&gt;
Commitment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;2013&lt;br /&gt;
Funding&amp;#160;&lt;/font&gt;&lt;font style="FONT-SIZE: 6pt; POSITION: relative; TOP: -2pt" size="1"&gt;(2)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;Commitment&lt;br /&gt;
Funded&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;Remaining&lt;br /&gt;
Commitment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;Number&amp;#160;of&lt;br /&gt;
Properties&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;Number&amp;#160;of&lt;br /&gt;
Beds/Units&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.16%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.76%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="15%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;Skilled Nursing&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;$36,644&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;$2,313&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;$11,418&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;$25,226&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;6&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&amp;#160;785&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.16%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.76%; PADDING-TOP: 0in" valign="top" width="15%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;Assisted Living&lt;/font&gt; &lt;font style="FONT-SIZE: 6pt; POSITION: relative; TOP: -2pt" size="1"&gt;(1)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;40,927&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;3,880&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;12,122&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;28,805&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;7&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&amp;#160;494&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.16%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.76%; PADDING-TOP: 0in" valign="top" width="15%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;Totals&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;$77,571&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;$6,193&amp;#160;&lt;/font&gt;&lt;font style="FONT-SIZE: 6pt; POSITION: relative; TOP: -2pt" size="1"&gt;(3)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;$23,540&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;$54,031&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;13&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;1,279&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.16%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
&lt;p style="MARGIN: 0in 0in 0pt 45pt"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 63pt; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1"&gt;(1)&lt;/font&gt;&lt;font style="FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt; &lt;font style="FONT-SIZE: 8pt" size="1"&gt;Includes the development of a 60-unit memory care property for $9,817 and two assisted living and memory care combination properties for a total of $16,385, the expansion of three assisted living properties for a total $14,600 and the renovation of a 140-unit independent living property for $125.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 63pt; TEXT-INDENT: -0.25in"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 63pt; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1"&gt;(2)&lt;/font&gt;&lt;font style="FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt; &lt;font style="FONT-SIZE: 8pt" size="1"&gt;Excludes $117 of capital improvement on a completed project with no remaining commitments.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 63pt; TEXT-INDENT: -0.25in"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 63pt; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1"&gt;(3)&lt;/font&gt;&lt;font style="FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt; &lt;font style="FONT-SIZE: 8pt" size="1"&gt;In April&amp;#160;of 2013, we funded $1,398 under investment commitments.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 63pt; TEXT-INDENT: -0.25in"&gt;&amp;#160;&lt;/p&gt;&lt;/div&gt;
</ltc:ScheduleOfInvestmentCommitmentsTableTextBlock>
  <ltc:ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock id="Tag112" contextRef="D2013Q1">&lt;div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt" size="2"&gt;The following table summarizes our investments in mortgage loans secured by first mortgages at March&amp;#160;31, 2013 &lt;i&gt;(dollar amounts in thousands)&lt;/i&gt;:&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="WIDTH: 711px; BORDER-COLLAPSE: collapse; HEIGHT: 123px" cellspacing="0" cellpadding="0" width="711" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 23.5%; PADDING-TOP: 0in" valign="bottom" width="23%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Percentage&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 9%; PADDING-TOP: 0in" valign="bottom" width="9%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 17.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="17%" colspan="3"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Number&amp;#160;of&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Investment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 23.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="23%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Type&amp;#160;of&amp;#160;Property&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Gross&lt;br /&gt;
Investments&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;of&lt;br /&gt;
Investments&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 9%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="9%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Number&amp;#160;&lt;br /&gt;
of Loans&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;of&lt;br /&gt;
Properties&lt;/font&gt;&lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(1)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="8%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;SNF&amp;#160;&lt;br /&gt;
Beds&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.5%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="8%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;ALF&lt;br /&gt;
Units&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;per&lt;br /&gt;
Bed/Unit&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 23.5%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="23%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Skilled Nursing&lt;/font&gt; &lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(2)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$25,097&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;62.5%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 9%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="9%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;15&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0.3in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;17&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="8%"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;1,861&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="8%"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$13.49&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 23.5%; PADDING-TOP: 0in" valign="top" width="23%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Assisted Living&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;12,245&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;30.5%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 9%; PADDING-TOP: 0in" valign="bottom" width="9%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.3in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;8&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 8%; PADDING-TOP: 0in" valign="bottom" width="8%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 8%; PADDING-TOP: 0in" valign="bottom" width="8%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;211&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$58.03&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 23.5%; PADDING-TOP: 0in" valign="top" width="23%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Range of Care&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;2,800&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;7.0%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 9%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="9%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0.3in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="8%"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;99&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="8%"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;74&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$16.18&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 23.5%; PADDING-TOP: 0in" valign="top" width="23%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Totals&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="10%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$40,142&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="10%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;100.0%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 9%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="9%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;19&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="10%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0.3in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;26&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="8%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;1,960&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="8%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;285&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
&lt;p style="MARGIN: 0in 0in 0pt 27.35pt; TEXT-INDENT: -0.25in"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 27.35pt; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1"&gt;(1)&lt;/font&gt;&lt;font style="FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt; &lt;font style="FONT-SIZE: 8pt" size="1"&gt;We have investments in 8 states that include mortgages to 11 different operators.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 27pt; TEXT-INDENT: -0.25in"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 27pt; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1"&gt;(2)&lt;/font&gt;&lt;font style="FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt; &lt;font style="FONT-SIZE: 8pt" size="1"&gt;Includes a mortgage and construction loan secured by a currently operating skilled nursing property and parcel of land upon which a 106-bed replacement facility will be constructed. The agreement gives us the right to purchase the replacement facility for $13,500 during an 18 month period beginning on the first anniversary of the issuance of the certificate of occupancy.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 27pt; TEXT-INDENT: -0.25in"&gt;&amp;#160;&lt;/p&gt;&lt;/div&gt;
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  <us-gaap:ProceedsFromSaleAndCollectionOfNotesReceivable id="Tag113" decimals="-3" contextRef="D2013Q1" unitRef="USD">114000</us-gaap:ProceedsFromSaleAndCollectionOfNotesReceivable>
  <us-gaap:ProceedsFromSaleAndCollectionOfNotesReceivable id="Tag114" decimals="-3" contextRef="D2012Q1" unitRef="USD">191000</us-gaap:ProceedsFromSaleAndCollectionOfNotesReceivable>
  <ltc:NotesReceivableNumberOfLoans id="Tag115" decimals="INF" contextRef="D2013Q1_LoanCommitmentsMaturitiesRangingFrom2013To2014Member" unitRef="Loan">2</ltc:NotesReceivableNumberOfLoans>
  <ltc:NotesReceivableWeightedAverageInterestRate id="Tag116" decimals="3" contextRef="I2013Q1_LoanCommitmentsMaturitiesRangingFrom2013To2014Member" unitRef="Pure">0.086</ltc:NotesReceivableWeightedAverageInterestRate>
  <us-gaap:NotesReceivableNet id="Tag117" decimals="-3" contextRef="I2013Q1" unitRef="USD">3129000</us-gaap:NotesReceivableNet>
  <ltc:LoanCommitments id="Tag118" decimals="0" contextRef="I2013Q1_LoanCommitmentsMaturitiesRangingFrom2013To2014Member" unitRef="USD">1525000</ltc:LoanCommitments>
  <ltc:LoanCommitmentsOpen id="Tag119" decimals="0" contextRef="I2013Q1_LoanCommitmentsMaturitiesRangingFrom2013To2014Member" unitRef="USD">1316000</ltc:LoanCommitmentsOpen>
  <ltc:NotesReceivableWeightedAverageInterestRate id="Tag120" decimals="3" contextRef="I2013Q1_LoanCommitmentsMaturitiesRangingFrom2013To2014Member_MinimumMember" unitRef="Pure">0.090</ltc:NotesReceivableWeightedAverageInterestRate>
  <ltc:NotesReceivableWeightedAverageInterestRate id="Tag121" decimals="3" contextRef="I2013Q1_LoanCommitmentsMaturitiesRangingFrom2013To2014Member_MaximumMember" unitRef="Pure">0.120</ltc:NotesReceivableWeightedAverageInterestRate>
  <ltc:MarketableSecuritiesWithRelatedParties id="Tag122" decimals="0" contextRef="I2012Q1_SkilledHealthcareGroupIncMember" unitRef="USD">6500000</ltc:MarketableSecuritiesWithRelatedParties>
  <ltc:MarketableSecuritiesWithRelatedPartiesInterestFaceRate id="Tag123" decimals="INF" contextRef="D2012_SkilledHealthcareGroupIncMember" unitRef="Pure">0.110</ltc:MarketableSecuritiesWithRelatedPartiesInterestFaceRate>
  <ltc:MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate id="Tag124" decimals="3" contextRef="D2012_SkilledHealthcareGroupIncMember" unitRef="Pure">0.111</ltc:MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate>
  <ltc:LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity id="Tag125" decimals="0" contextRef="D2012_LineOfCreditMember" unitRef="USD">350000000</ltc:LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity id="Tag126" decimals="0" contextRef="I2012_LineOfCreditMember" unitRef="USD">240000000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <ltc:DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing id="Tag127" decimals="INF" contextRef="D2013Q1_LineOfCreditMember" unitRef="Pure">0.0025</ltc:DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing>
  <ltc:DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing id="Tag128" decimals="INF" contextRef="D2013Q1_LineOfCreditMember" unitRef="Pure">0.0010</ltc:DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing>
  <ltc:DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod id="Tag129" contextRef="D2013Q1_LineOfCreditMember">P1Y</ltc:DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod>
  <ltc:DebtInstrumentMaturityDateLengthOfExtensionPeriod id="Tag130" contextRef="D2013Q1_LineOfCreditMember">P1Y</ltc:DebtInstrumentMaturityDateLengthOfExtensionPeriod>
  <us-gaap:DebtInstrumentDescriptionOfVariableRateBasis id="Tag131" contextRef="D2013Q1_LineOfCreditMember">LIBOR</us-gaap:DebtInstrumentDescriptionOfVariableRateBasis>
  <us-gaap:LineOfCreditFacilityIncreaseAdditionalBorrowings id="Tag132" decimals="0" contextRef="D2013Q1_LineOfCreditMember" unitRef="USD">2000000</us-gaap:LineOfCreditFacilityIncreaseAdditionalBorrowings>
  <us-gaap:LineOfCreditFacilityAmountOutstanding id="Tag133" decimals="0" contextRef="I2013Q1_LineOfCreditMember" unitRef="USD">117500000</us-gaap:LineOfCreditFacilityAmountOutstanding>
  <us-gaap:LineOfCreditFacilityRemainingBorrowingCapacity id="Tag134" decimals="0" contextRef="I2013Q1_LineOfCreditMember" unitRef="USD">122500000</us-gaap:LineOfCreditFacilityRemainingBorrowingCapacity>
  <us-gaap:UnsecuredDebt id="Tag135" decimals="-3" contextRef="I2013Q1_SeniorUnsecuredDebtMember" unitRef="USD">185800000</us-gaap:UnsecuredDebt>
  <us-gaap:DebtInstrumentInterestRateDuringPeriod id="Tag136" decimals="3" contextRef="D2013Q1_SeniorUnsecuredDebtMember" unitRef="Pure">0.052</us-gaap:DebtInstrumentInterestRateDuringPeriod>
  <ltc:DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement id="Tag137" decimals="INF" contextRef="D2013Q1_UncommittedPrivateShelfAgreementMember" unitRef="USD">100000000</ltc:DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement>
  <ltc:DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement id="Tag138" decimals="INF" contextRef="D2012_UncommittedPrivateShelfAgreementMember" unitRef="USD">100000000</ltc:DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement>
  <us-gaap:UnsecuredDebt id="Tag139" decimals="-3" contextRef="I2012_SeniorUnsecuredDebtMember" unitRef="USD">185800000</us-gaap:UnsecuredDebt>
  <us-gaap:DebtInstrumentInterestRateDuringPeriod id="Tag140" decimals="3" contextRef="D2012_SeniorUnsecuredDebtMember" unitRef="Pure">0.052</us-gaap:DebtInstrumentInterestRateDuringPeriod>
  <us-gaap:SecuredDebt id="Tag141" decimals="0" contextRef="I2013Q1_BondsPayableMember" unitRef="USD">2035000</us-gaap:SecuredDebt>
  <us-gaap:SecuredDebt id="Tag142" decimals="0" contextRef="I2012_BondsPayableMember" unitRef="USD">2635000</us-gaap:SecuredDebt>
  <us-gaap:DebtInstrumentInterestRateDuringPeriod id="Tag143" decimals="3" contextRef="D2013Q1_BondsPayableMember" unitRef="Pure">0.029</us-gaap:DebtInstrumentInterestRateDuringPeriod>
  <us-gaap:RepaymentsOfDebt id="Tag144" decimals="0" contextRef="D2013Q1_BondsPayableMember" unitRef="USD">600000</us-gaap:RepaymentsOfDebt>
  <us-gaap:RepaymentsOfDebt id="Tag145" decimals="0" contextRef="D2012Q1_BondsPayableMember" unitRef="USD">565000</us-gaap:RepaymentsOfDebt>
  <us-gaap:PledgedAssetsNotSeparatelyReportedRealEstate id="Tag146" decimals="0" contextRef="I2013Q1_BondsPayableMember" unitRef="USD">6584000</us-gaap:PledgedAssetsNotSeparatelyReportedRealEstate>
  <us-gaap:PledgedAssetsNotSeparatelyReportedRealEstate id="Tag147" decimals="0" contextRef="I2012_BondsPayableMember" unitRef="USD">6650000</us-gaap:PledgedAssetsNotSeparatelyReportedRealEstate>
  <ltc:DebtInstrumentNumberOfCollateralProperties id="Tag148" decimals="INF" contextRef="D2013Q1_BondsPayableMember" unitRef="Property">5</ltc:DebtInstrumentNumberOfCollateralProperties>
  <ltc:DebtInstrumentNumberOfCollateralProperties id="Tag149" decimals="INF" contextRef="D2012_BondsPayableMember" unitRef="Property">5</ltc:DebtInstrumentNumberOfCollateralProperties>
  <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest id="Tag150" decimals="-3" contextRef="I2012_ParentMember" unitRef="USD">463101000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
  <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest id="Tag151" decimals="-3" contextRef="I2012_NoncontrollingInterestMember" unitRef="USD">7000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
  <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest id="Tag152" decimals="-3" contextRef="I2012" unitRef="USD">463108000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
  <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest id="Tag153" decimals="-3" contextRef="I2013Q1_ParentMember" unitRef="USD">466811000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
  <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest id="Tag154" decimals="-3" contextRef="I2013Q1" unitRef="USD">466811000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
  <us-gaap:ProfitLoss id="Tag155" decimals="-3" contextRef="D2013Q1_ParentMember" unitRef="USD">12976000</us-gaap:ProfitLoss>
  <us-gaap:ProfitLoss id="Tag156" decimals="-3" contextRef="D2013Q1" unitRef="USD">12976000</us-gaap:ProfitLoss>
  <us-gaap:ShareBasedCompensation id="Tag157" decimals="-3" contextRef="D2013Q1_ParentMember" unitRef="USD">985000</us-gaap:ShareBasedCompensation>
  <us-gaap:ShareBasedCompensation id="Tag158" decimals="-3" contextRef="D2013Q1" unitRef="USD">985000</us-gaap:ShareBasedCompensation>
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised id="Tag159" decimals="-3" contextRef="D2013Q1_ParentMember" unitRef="USD">523000</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised id="Tag160" decimals="-3" contextRef="D2013Q1" unitRef="USD">523000</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <us-gaap:OtherComprehensiveIncomeLossNetOfTax id="Tag161" decimals="-3" contextRef="D2013Q1_ParentMember" unitRef="USD">-9000</us-gaap:OtherComprehensiveIncomeLossNetOfTax>
  <us-gaap:OtherComprehensiveIncomeLossNetOfTax id="Tag162" decimals="-3" contextRef="D2013Q1" unitRef="USD">-9000</us-gaap:OtherComprehensiveIncomeLossNetOfTax>
  <us-gaap:PaymentsOfDividendsMinorityInterest id="Tag163" decimals="-3" contextRef="D2013Q1_NoncontrollingInterestMember" unitRef="USD">7000</us-gaap:PaymentsOfDividendsMinorityInterest>
  <us-gaap:PaymentsOfDividendsMinorityInterest id="Tag164" decimals="-3" contextRef="D2013Q1" unitRef="USD">7000</us-gaap:PaymentsOfDividendsMinorityInterest>
  <us-gaap:PreferredStockDividendsAndOtherAdjustments id="Tag165" decimals="-3" contextRef="D2013Q1_ParentMember" unitRef="USD">818000</us-gaap:PreferredStockDividendsAndOtherAdjustments>
  <us-gaap:PreferredStockDividendsAndOtherAdjustments id="Tag166" decimals="-3" contextRef="D2013Q1" unitRef="USD">818000</us-gaap:PreferredStockDividendsAndOtherAdjustments>
  <us-gaap:PaymentsOfDividendsCommonStock id="Tag167" decimals="-3" contextRef="D2013Q1_ParentMember" unitRef="USD">14217000</us-gaap:PaymentsOfDividendsCommonStock>
  <us-gaap:PaymentsOfDividendsCommonStock id="Tag168" decimals="-3" contextRef="D2013Q1" unitRef="USD">14217000</us-gaap:PaymentsOfDividendsCommonStock>
  <us-gaap:PreferredStockSharesOutstanding id="Tag169" decimals="INF" contextRef="I2013Q1_SeriesCPreferredStockMember" unitRef="Shares">2000000</us-gaap:PreferredStockSharesOutstanding>
  <us-gaap:PreferredStockDividendRatePercentage id="Tag170" decimals="INF" contextRef="D2013Q1_SeriesCPreferredStockMember" unitRef="Pure">0.085</us-gaap:PreferredStockDividendRatePercentage>
  <ltc:ConvertiblePreferredStockSharesIssuableUponConversion id="Tag171" decimals="INF" contextRef="D2013Q1_SeriesCPreferredStockMember" unitRef="Shares">2000000</ltc:ConvertiblePreferredStockSharesIssuableUponConversion>
  <ltc:ConvertiblePreferredStockSharesConversionPricePerShare id="Tag172" decimals="2" contextRef="D2013Q1_SeriesCPreferredStockMember" unitRef="USDPerShare">19.25</ltc:ConvertiblePreferredStockSharesConversionPricePerShare>
  <us-gaap:CommonStockCapitalSharesReservedForFutureIssuance id="Tag173" decimals="INF" contextRef="I2013Q1_SeriesCPreferredStockMember" unitRef="Shares">2000000</us-gaap:CommonStockCapitalSharesReservedForFutureIssuance>
  <ltc:CommonStockSharesAuthorizedValue id="Tag174" decimals="0" contextRef="I2013Q1_EquityDistributionAgreementMember" unitRef="USD">85686000</ltc:CommonStockSharesAuthorizedValue>
  <ltc:CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue id="Tag175" decimals="0" contextRef="I2013Q1_EquityDistributionAgreementMember" unitRef="USD">59578000</ltc:CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue>
  <ltc:ShelfRegistrationStatementMaximumCapacity id="Tag176" decimals="0" contextRef="D2013Q1_ShelfRegistrationMember" unitRef="USD">400000000</ltc:ShelfRegistrationStatementMaximumCapacity>
  <ltc:ShelfRegistrationStatementAmountAvailable id="Tag177" decimals="0" contextRef="I2013Q1_ShelfRegistrationMember" unitRef="USD">167614000</ltc:ShelfRegistrationStatementAmountAvailable>
  <ltc:NumberOfLimitedPartnerships id="Tag178" decimals="INF" contextRef="D2012" unitRef="Partnership">1</ltc:NumberOfLimitedPartnerships>
  <ltc:LimitedPartnershipUnitsConversionBasis id="Tag179" contextRef="D2012">one-for-one basis</ltc:LimitedPartnershipUnitsConversionBasis>
  <ltc:NumberOfLimitedPartnersExercisingConversionRights id="Tag180" decimals="INF" contextRef="D2012_ConversionOfNoncontrollingInterestMember" unitRef="Item">2</ltc:NumberOfLimitedPartnersExercisingConversionRights>
  <ltc:StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest id="Tag181" decimals="INF" contextRef="D2012_ConversionOfNoncontrollingInterestMember" unitRef="Shares">112588</ltc:StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest>
  <ltc:NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner id="Tag182" decimals="INF" contextRef="D2012_ConversionOfNoncontrollingInterestMember" unitRef="Shares">23294</ltc:NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner>
  <ltc:LimitedPartnersCapitalUnitsRedeemed id="Tag184" decimals="INF" contextRef="D2012_ConversionOfNoncontrollingInterestMember" unitRef="Shares">89294</ltc:LimitedPartnersCapitalUnitsRedeemed>
  <us-gaap:PaymentsForRepurchaseOfRedeemableNoncontrollingInterest id="Tag185" decimals="0" contextRef="D2012_ConversionOfNoncontrollingInterestMember" unitRef="USD">2764000</us-gaap:PaymentsForRepurchaseOfRedeemableNoncontrollingInterest>
  <ltc:MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest id="Tag186" decimals="2" contextRef="D2012_ConversionOfNoncontrollingInterestMember" unitRef="USDPerShare">0.05</ltc:MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest>
  <ltc:RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue id="Tag187" decimals="0" contextRef="D2012_ConversionOfNoncontrollingInterestMember" unitRef="USD">1246000</ltc:RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue>
  <us-gaap:NetIncomeLoss id="Tag188" decimals="-3" contextRef="D2012Q1" unitRef="USD">12921000</us-gaap:NetIncomeLoss>
  <ltc:DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest id="Tag189" decimals="-3" contextRef="D2012Q1" unitRef="USD">1246000</ltc:DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest>
  <ltc:NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest id="Tag190" decimals="-3" contextRef="D2012Q1" unitRef="USD">11675000</ltc:NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest>
  <ltc:NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest id="Tag191" decimals="-3" contextRef="D2013Q1" unitRef="USD">12976000</ltc:NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest>
  <ltc:DividendsDeclared id="Tag192" decimals="-3" contextRef="I2012Q1_SeriesCPreferredStockMember" unitRef="USD">818000</ltc:DividendsDeclared>
  <us-gaap:PaymentsOfDividends id="Tag193" decimals="-3" contextRef="D2013Q1_SeriesCPreferredStockMember" unitRef="USD">818000</us-gaap:PaymentsOfDividends>
  <ltc:DividendsDeclared id="Tag194" decimals="-3" contextRef="I2012Q1_CumulativePreferredStockMember" unitRef="USD">818000</ltc:DividendsDeclared>
  <us-gaap:PaymentsOfDividends id="Tag195" decimals="-3" contextRef="D2013Q1_CumulativePreferredStockMember" unitRef="USD">818000</us-gaap:PaymentsOfDividends>
  <ltc:DividendsDeclared id="Tag196" decimals="-3" contextRef="I2012Q1_CommonStockMember" unitRef="USD">13226000</ltc:DividendsDeclared>
  <us-gaap:PaymentsOfDividends id="Tag197" decimals="-3" contextRef="D2013Q1_CommonStockMember" unitRef="USD">14217000</us-gaap:PaymentsOfDividends>
  <ltc:DividendsDeclared id="Tag198" decimals="-3" contextRef="I2012Q1" unitRef="USD">14044000</ltc:DividendsDeclared>
  <us-gaap:PaymentsOfDividends id="Tag199" decimals="-3" contextRef="D2013Q1" unitRef="USD">15035000</us-gaap:PaymentsOfDividends>
  <ltc:DividendsDeclared id="Tag200" decimals="-3" contextRef="I2013Q1_SeriesCPreferredStockMember" unitRef="USD">818000</ltc:DividendsDeclared>
  <us-gaap:PaymentsOfDividends id="Tag201" decimals="-3" contextRef="D2012Q1_SeriesCPreferredStockMember" unitRef="USD">818000</us-gaap:PaymentsOfDividends>
  <ltc:DividendsDeclared id="Tag202" decimals="-3" contextRef="I2013Q1_CumulativePreferredStockMember" unitRef="USD">818000</ltc:DividendsDeclared>
  <us-gaap:PaymentsOfDividends id="Tag203" decimals="-3" contextRef="D2012Q1_CumulativePreferredStockMember" unitRef="USD">818000</us-gaap:PaymentsOfDividends>
  <ltc:DividendsDeclared id="Tag204" decimals="-3" contextRef="I2013Q1_CommonStockMember" unitRef="USD">14217000</ltc:DividendsDeclared>
  <us-gaap:PaymentsOfDividends id="Tag205" decimals="-3" contextRef="D2012Q1_CommonStockMember" unitRef="USD">13226000</us-gaap:PaymentsOfDividends>
  <ltc:DividendsDeclared id="Tag206" decimals="-3" contextRef="I2013Q1" unitRef="USD">15035000</ltc:DividendsDeclared>
  <us-gaap:PaymentsOfDividends id="Tag207" decimals="-3" contextRef="D2012Q1" unitRef="USD">14044000</us-gaap:PaymentsOfDividends>
  <us-gaap:CommonStockDividendsPerShareDeclared id="Tag208" decimals="INF" contextRef="D2013Q1_CommonStockMember" unitRef="USDPerShare">0.155</us-gaap:CommonStockDividendsPerShareDeclared>
  <us-gaap:CommonStockDividendsPerShareDeclared id="Tag209" decimals="INF" contextRef="D2012Q1_CommonStockMember" unitRef="USDPerShare">0.145</us-gaap:CommonStockDividendsPerShareDeclared>
  <us-gaap:ScheduleOfStockholdersEquityTableTextBlock id="Tag210" contextRef="D2013Q1">&lt;div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;Equity is allocated between controlling and non-controlling interests as follows &lt;i&gt;(in thousands)&lt;/i&gt;:&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="MARGIN-LEFT: 28.35pt; WIDTH: 651px; BORDER-COLLAPSE: collapse; HEIGHT: 273px" cellspacing="0" cellpadding="0" width="651" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.82%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;LTC&lt;br /&gt;
Properties,&amp;#160;Inc.&lt;br /&gt;
Stockholders&amp;#8217;&lt;br /&gt;
Equity&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.82%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Non-controlling&lt;br /&gt;
Interest&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Total&lt;br /&gt;
Equity&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.48%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Balance at December&amp;#160;31, 2012&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.82%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$463,101&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.82%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$7&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$463,108&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.48%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Net income&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;12,976&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;12,976&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.48%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Issue common stock&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;4,293&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;4,293&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.48%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Vested restricted common stock&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;985&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;985&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.48%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Stock option exercise&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;523&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;523&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.48%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Reclassification adjustment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 15.1pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(9)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(9&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.48%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Non-controlling interest preferred return&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 20.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(7)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(7&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.48%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Preferred stock dividends&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 15.1pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(818)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(818&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.48%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Common stock dividends&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 15.1pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(14,217)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(14,217&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.48%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Other&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.82%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 15.1pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(23)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.82%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(23&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.48%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Balance at March&amp;#160;31, 2013&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.82%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$466,811&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.82%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$466,811&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.48%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&amp;#160;&lt;/p&gt;&lt;/div&gt;
</us-gaap:ScheduleOfStockholdersEquityTableTextBlock>
  <ltc:ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock id="Tag211" contextRef="D2013Q1">&lt;div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;The following table represents the change from net income attributable to us and transfers from non-controlling interest &lt;i&gt;(in thousands):&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="MARGIN-LEFT: 0.5in; WIDTH: 644px; BORDER-COLLAPSE: collapse; HEIGHT: 131px" cellspacing="0" cellpadding="0" width="644" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 68.26%; PADDING-TOP: 0in" valign="bottom" width="68%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 25.96%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="25%" colspan="3"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Three&amp;#160;months&amp;#160;ended&lt;br /&gt;
&amp;#160;March&amp;#160;31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.88%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 68.26%; PADDING-TOP: 0in" valign="bottom" width="68%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;2013&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.88%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;2012&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.88%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 68.26%; PADDING-TOP: 0in" valign="bottom" width="68%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Net income attributable to LTC Properties,&amp;#160;Inc.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 15.85pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$12,976&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$12,921&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 68.26%; PADDING-TOP: 0in" valign="bottom" width="68%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Transfers from the non-controlling interest&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11.54%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 15.85pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11.54%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 68.26%; PADDING-TOP: 0in" valign="bottom" width="68%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Decrease in paid-in capital for limited partners conversion&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 15.85pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(1,246)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 68.26%; PADDING-TOP: 0in" valign="bottom" width="68%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Change from net income attributable to LTC Properties,&amp;#160;Inc. and transfers from non-controlling interest&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 15.85pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$12,976&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$11,675&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&amp;#160;&lt;/p&gt;&lt;/div&gt;
</ltc:ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock>
  <ltc:ScheduleOfDividendDistributionsTableTextBlock id="Tag212" contextRef="D2013Q1">&lt;div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt" size="2"&gt;We declared and paid the following cash dividends &lt;i&gt;(in thousands)&lt;/i&gt;:&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="MARGIN-LEFT: 0.25in; WIDTH: 687px; BORDER-COLLAPSE: collapse; HEIGHT: 171px" cellspacing="0" cellpadding="0" width="687" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 32.14%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="32%" colspan="3"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Three&amp;#160;months&amp;#160;ended&amp;#160;March&amp;#160;31,&amp;#160;2013&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 32.14%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="32%" colspan="3"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Three&amp;#160;months&amp;#160;ended&amp;#160;March&amp;#160;31,&amp;#160;2012&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Declared&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Paid&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Declared&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.14%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Paid&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Preferred Stock&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
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&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
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&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
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&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
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&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
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&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
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&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
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&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 30pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Series&amp;#160;C&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
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&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
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&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;818&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
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&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;818&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
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&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;818&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
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&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;818&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
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&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Total Preferred&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
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&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;818&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
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&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;818&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;818&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;818&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
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&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
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&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Common Stock &lt;font style="POSITION: relative; TOP: -3pt"&gt;(1)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;14,217&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;14,217&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;13,226&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;13,226&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
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&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$15,035&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$15,035&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$14,044&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$14,044&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.75in; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;(1)&lt;/font&gt;&lt;font style="FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt; &lt;font style="FONT-SIZE: 9pt" size="1"&gt;Represents $0.155 per share per month and $0.145 per share per month for the three months ended March&amp;#160;31, 2013 and 2012, respectively.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.75in; TEXT-INDENT: -0.25in"&gt;&amp;#160;&lt;/p&gt;&lt;/div&gt;
</ltc:ScheduleOfDividendDistributionsTableTextBlock>
  <ltc:EarnOutLiabilitiesNonCashInterestExpense id="Tag213" decimals="0" contextRef="D2013Q1" unitRef="USD">110000</ltc:EarnOutLiabilitiesNonCashInterestExpense>
  <ltc:EarnOutLiabilitiesNonCashInterestExpense id="Tag214" decimals="0" contextRef="D2012Q1" unitRef="USD">110000</ltc:EarnOutLiabilitiesNonCashInterestExpense>
  <ltc:BusinessAcquisitionNumberOfUnitsInBusinessAcquired id="Tag215" decimals="INF" contextRef="D2013Q1_SkilledNursingPropertiesWith785UnitsMember" unitRef="Bed">785</ltc:BusinessAcquisitionNumberOfUnitsInBusinessAcquired>
  <ltc:BusinessAcquisitionNumberOfUnitsInBusinessAcquired id="Tag216" decimals="INF" contextRef="D2013Q1_MemoryCarePropertyMember" unitRef="Unit">60</ltc:BusinessAcquisitionNumberOfUnitsInBusinessAcquired>
  <ltc:BusinessAcquisitionNumberOfUnitsInBusinessAcquired id="Tag217" decimals="INF" contextRef="D2013Q1_IndependentLivingFacilityUnitsMember" unitRef="Unit">140</ltc:BusinessAcquisitionNumberOfUnitsInBusinessAcquired>
  <us-gaap:NumberOfBusinessesAcquired id="Tag218" decimals="INF" contextRef="D2013Q1_AssistedLivingAndMemoryCarePropertiesMember" unitRef="Property">2</us-gaap:NumberOfBusinessesAcquired>
  <ltc:BusinessAcquisitionNumberOfUnitsInBusinessAcquired id="Tag219" decimals="INF" contextRef="D2013Q1_AssistedLivingAndMemoryCarePropertiesMember" unitRef="Unit">158</ltc:BusinessAcquisitionNumberOfUnitsInBusinessAcquired>
  <ltc:NumberOfOperators id="Tag224" decimals="INF" contextRef="D2013Q1" unitRef="Operator">3</ltc:NumberOfOperators>
  <us-gaap:PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits id="Tag225" decimals="INF" contextRef="I2013Q1_OperatorConcentrationRiskMember_ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember_AssistedLivingPropertiesMember" unitRef="Property">37</us-gaap:PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits>
  <us-gaap:NumberOfUnitsInRealEstateProperty id="Tag226" decimals="INF" contextRef="I2013Q1_OperatorConcentrationRiskMember_ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember_AssistedLivingPropertiesMember_AssistedLivingFacilityUnitsMember" unitRef="Unit">1430</us-gaap:NumberOfUnitsInRealEstateProperty>
  <us-gaap:ConcentrationRiskPercentage1 id="Tag227" decimals="3" contextRef="D2013Q1_AssetsTotalMember_OperatorConcentrationRiskMember_ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember" unitRef="Pure">0.067</us-gaap:ConcentrationRiskPercentage1>
  <us-gaap:Assets id="Tag228" decimals="-3" contextRef="I2013Q1_AssetsTotalMember_OperatorConcentrationRiskMember_ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember" unitRef="USD">52877000</us-gaap:Assets>
  <us-gaap:ConcentrationRiskPercentage1 id="Tag229" decimals="3" contextRef="D2013Q1_RentalRevenueAndInterestIncomeFromMortgageLoansMember_OperatorConcentrationRiskMember_ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember" unitRef="Pure">0.107</us-gaap:ConcentrationRiskPercentage1>
  <us-gaap:PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits id="Tag230" decimals="INF" contextRef="I2013Q1_OperatorConcentrationRiskMember_BrookdaleMember_AssistedLivingPropertiesMember" unitRef="Property">35</us-gaap:PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits>
  <us-gaap:NumberOfUnitsInRealEstateProperty id="Tag231" decimals="INF" contextRef="I2013Q1_OperatorConcentrationRiskMember_BrookdaleMember_AssistedLivingPropertiesMember_AssistedLivingFacilityUnitsMember" unitRef="Unit">1414</us-gaap:NumberOfUnitsInRealEstateProperty>
  <us-gaap:ConcentrationRiskPercentage1 id="Tag232" decimals="3" contextRef="D2013Q1_AssetsTotalMember_OperatorConcentrationRiskMember_BrookdaleMember" unitRef="Pure">0.067</us-gaap:ConcentrationRiskPercentage1>
  <us-gaap:Assets id="Tag233" decimals="-3" contextRef="I2013Q1_AssetsTotalMember_OperatorConcentrationRiskMember_BrookdaleMember" unitRef="USD">53038000</us-gaap:Assets>
  <us-gaap:ConcentrationRiskPercentage1 id="Tag234" decimals="3" contextRef="D2013Q1_RentalRevenueAndInterestIncomeFromMortgageLoansMember_OperatorConcentrationRiskMember_BrookdaleMember" unitRef="Pure">0.107</us-gaap:ConcentrationRiskPercentage1>
  <us-gaap:PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits id="Tag235" decimals="INF" contextRef="I2013Q1_OperatorConcentrationRiskMember_PreferredCareMember_SkilledNursingPropertiesMember" unitRef="Property">27</us-gaap:PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits>
  <us-gaap:PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits id="Tag236" decimals="INF" contextRef="I2013Q1_PreferredCareMember_OperatorConcentrationRiskMember_RangeOfCarePropertiesMember" unitRef="Property">2</us-gaap:PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits>
  <us-gaap:NumberOfUnitsInRealEstateProperty id="Tag237" decimals="INF" contextRef="I2013Q1_OperatorConcentrationRiskMember_PreferredCareMember_SkilledNursingPropertiesMember_SkilledNursingFacilityBedsMember" unitRef="Bed">3354</us-gaap:NumberOfUnitsInRealEstateProperty>
  <us-gaap:NumberOfUnitsInRealEstateProperty id="Tag238" decimals="INF" contextRef="I2013Q1_OperatorConcentrationRiskMember_PreferredCareMember_AssistedLivingPropertiesMember_AssistedLivingFacilityUnitsMember" unitRef="Unit">49</us-gaap:NumberOfUnitsInRealEstateProperty>
  <us-gaap:ConcentrationRiskPercentage1 id="Tag239" decimals="3" contextRef="D2013Q1_AssetsTotalMember_OperatorConcentrationRiskMember_PreferredCareMember" unitRef="Pure">0.066</us-gaap:ConcentrationRiskPercentage1>
  <us-gaap:Assets id="Tag240" decimals="-3" contextRef="I2013Q1_AssetsTotalMember_OperatorConcentrationRiskMember_PreferredCareMember" unitRef="USD">51945000</us-gaap:Assets>
  <us-gaap:ConcentrationRiskPercentage1 id="Tag241" decimals="3" contextRef="D2013Q1_RentalRevenueAndInterestIncomeFromMortgageLoansMember_OperatorConcentrationRiskMember_PreferredCareMember" unitRef="Pure">0.105</us-gaap:ConcentrationRiskPercentage1>
  <ltc:PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits id="Tag242" decimals="INF" contextRef="I2013Q1_OperatorConcentrationRiskMember_PreferredCareMember_SkilledNursingPropertiesMember" unitRef="Property">1</ltc:PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits>
  <ltc:InvestmentsWithRelatedPartiesInvestmentPurchased id="Tag243" decimals="0" contextRef="I2005_SkilledHealthcareGroupIncMember" unitRef="USD">10000000</ltc:InvestmentsWithRelatedPartiesInvestmentPurchased>
  <ltc:InvestmentsWithRelatedPartiesInterestFaceRate id="Tag244" decimals="INF" contextRef="D2005Q4_M12_SkilledHealthcareGroupIncMember" unitRef="Pure">0.110</ltc:InvestmentsWithRelatedPartiesInterestFaceRate>
  <ltc:InvestmentsWithRelatedPartiesInterestEffectiveRate id="Tag245" decimals="3" contextRef="D2005Q4_M12_SkilledHealthcareGroupIncMember" unitRef="Pure">0.111</ltc:InvestmentsWithRelatedPartiesInterestEffectiveRate>
  <ltc:InvestmentsWithRelatedParties id="Tag246" decimals="0" contextRef="I2007_SkilledHealthcareGroupIncMember" unitRef="USD">6500000</ltc:InvestmentsWithRelatedParties>
  <ltc:RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty id="Tag247" decimals="0" contextRef="D2012Q1_SkilledHealthcareGroupIncMember" unitRef="USD">180000</ltc:RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty>
  <ltc:LeaseAgreementPeriod id="Tag248" contextRef="D2006Q1_M02_LaurelHealthcareMember">P15Y</ltc:LeaseAgreementPeriod>
  <ltc:RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty id="Tag249" decimals="0" contextRef="D2013Q1_LaurelHealthcareMember" unitRef="USD">1113000</ltc:RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty>
  <ltc:RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty id="Tag250" decimals="0" contextRef="D2012Q1_LaurelHealthcareMember" unitRef="USD">1086000</ltc:RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty>
  <ltc:RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty id="Tag251" decimals="0" contextRef="D2013Q1_LaurelHealthcareMember" unitRef="USD">12000</ltc:RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty>
  <ltc:RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty id="Tag252" decimals="0" contextRef="D2012Q1_LaurelHealthcareMember" unitRef="USD">39000</ltc:RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty>
  <us-gaap:DueFromRelatedParties id="Tag253" decimals="0" contextRef="I2013Q1_LaurelHealthcareMember" unitRef="USD">3203000</us-gaap:DueFromRelatedParties>
  <us-gaap:DueFromRelatedParties id="Tag254" decimals="0" contextRef="I2012_LaurelHealthcareMember" unitRef="USD">3191000</us-gaap:DueFromRelatedParties>
  <us-gaap:MortgageLoansOnRealEstateCommercialAndConsumerNet id="Tag255" decimals="-3" contextRef="I2012_CarryingReportedAmountFairValueDisclosureMember" unitRef="USD">39299000</us-gaap:MortgageLoansOnRealEstateCommercialAndConsumerNet>
  <ltc:SecuredDebtBondsPayable id="Tag256" decimals="-3" contextRef="I2012_CarryingReportedAmountFairValueDisclosureMember" unitRef="USD">2635000</ltc:SecuredDebtBondsPayable>
  <us-gaap:LineOfCreditFacilityAmountOutstanding id="Tag257" decimals="-3" contextRef="I2012_CarryingReportedAmountFairValueDisclosureMember" unitRef="USD">115500000</us-gaap:LineOfCreditFacilityAmountOutstanding>
  <us-gaap:UnsecuredDebt id="Tag258" decimals="-3" contextRef="I2012_CarryingReportedAmountFairValueDisclosureMember" unitRef="USD">185800000</us-gaap:UnsecuredDebt>
  <us-gaap:MortgageLoansOnRealEstateCommercialAndConsumerNet id="Tag259" decimals="-3" contextRef="I2012_EstimateOfFairValueFairValueDisclosureMember_FairValueInputsLevel3Member" unitRef="USD">44939000</us-gaap:MortgageLoansOnRealEstateCommercialAndConsumerNet>
  <ltc:SecuredDebtBondsPayable id="Tag260" decimals="-3" contextRef="I2012_EstimateOfFairValueFairValueDisclosureMember" unitRef="USD">2635000</ltc:SecuredDebtBondsPayable>
  <us-gaap:LineOfCreditFacilityAmountOutstanding id="Tag261" decimals="-3" contextRef="I2012_EstimateOfFairValueFairValueDisclosureMember" unitRef="USD">115500000</us-gaap:LineOfCreditFacilityAmountOutstanding>
  <us-gaap:UnsecuredDebt id="Tag262" decimals="-3" contextRef="I2012_EstimateOfFairValueFairValueDisclosureMember_FairValueInputsLevel3Member" unitRef="USD">194838000</us-gaap:UnsecuredDebt>
  <us-gaap:MortgageLoansOnRealEstateCommercialAndConsumerNet id="Tag263" decimals="-3" contextRef="I2013Q1_CarryingReportedAmountFairValueDisclosureMember" unitRef="USD">39741000</us-gaap:MortgageLoansOnRealEstateCommercialAndConsumerNet>
  <us-gaap:MortgageLoansOnRealEstateCommercialAndConsumerNet id="Tag264" decimals="-3" contextRef="I2013Q1_EstimateOfFairValueFairValueDisclosureMember_FairValueInputsLevel3Member" unitRef="USD">45060000</us-gaap:MortgageLoansOnRealEstateCommercialAndConsumerNet>
  <ltc:SecuredDebtBondsPayable id="Tag265" decimals="-3" contextRef="I2013Q1_CarryingReportedAmountFairValueDisclosureMember" unitRef="USD">2035000</ltc:SecuredDebtBondsPayable>
  <ltc:SecuredDebtBondsPayable id="Tag266" decimals="-3" contextRef="I2013Q1_EstimateOfFairValueFairValueDisclosureMember" unitRef="USD">2035000</ltc:SecuredDebtBondsPayable>
  <us-gaap:LineOfCreditFacilityAmountOutstanding id="Tag267" decimals="-3" contextRef="I2013Q1_CarryingReportedAmountFairValueDisclosureMember" unitRef="USD">117500000</us-gaap:LineOfCreditFacilityAmountOutstanding>
  <us-gaap:LineOfCreditFacilityAmountOutstanding id="Tag268" decimals="-3" contextRef="I2013Q1_EstimateOfFairValueFairValueDisclosureMember" unitRef="USD">117500000</us-gaap:LineOfCreditFacilityAmountOutstanding>
  <us-gaap:UnsecuredDebt id="Tag269" decimals="-3" contextRef="I2013Q1_CarryingReportedAmountFairValueDisclosureMember" unitRef="USD">185800000</us-gaap:UnsecuredDebt>
  <us-gaap:UnsecuredDebt id="Tag270" decimals="-3" contextRef="I2013Q1_EstimateOfFairValueFairValueDisclosureMember_FairValueInputsLevel3Member" unitRef="USD">194475000</us-gaap:UnsecuredDebt>
  <ltc:MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate id="Tag271" decimals="3" contextRef="I2013Q1" unitRef="Pure">0.060</ltc:MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate>
  <ltc:MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate id="Tag272" decimals="3" contextRef="I2012" unitRef="Pure">0.060</ltc:MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate>
  <us-gaap:FairValueInputsDiscountRate id="Tag273" decimals="3" contextRef="D2013Q1" unitRef="Pure">0.065</us-gaap:FairValueInputsDiscountRate>
  <us-gaap:FairValueInputsDiscountRate id="Tag274" decimals="3" contextRef="D2012" unitRef="Pure">0.066</us-gaap:FairValueInputsDiscountRate>
  <ltc:DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate id="Tag275" decimals="3" contextRef="I2013Q1_SeniorUnsecuredNotesMaturingPriorTo2019Member" unitRef="Pure">0.038</ltc:DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate>
  <ltc:DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate id="Tag276" decimals="3" contextRef="I2013Q1_SeniorUnsecuredNotesMaturingIn2021Member" unitRef="Pure">0.043</ltc:DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate>
  <ltc:DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate id="Tag277" decimals="3" contextRef="I2012_SeniorUnsecuredNotesMaturingPriorTo2019Member" unitRef="Pure">0.038</ltc:DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate>
  <ltc:DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate id="Tag278" decimals="3" contextRef="I2012_SeniorUnsecuredNotesMaturingIn2021Member" unitRef="Pure">0.043</ltc:DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate>
  <us-gaap:IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest id="Tag283" decimals="-3" contextRef="D2013Q1" unitRef="USD">12976000</us-gaap:IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest>
  <us-gaap:IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest id="Tag284" decimals="-3" contextRef="D2012Q1" unitRef="USD">12916000</us-gaap:IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest>
  <us-gaap:NetIncomeLossAttributableToNoncontrollingInterest id="Tag285" decimals="-3" contextRef="D2012Q1" unitRef="USD">11000</us-gaap:NetIncomeLossAttributableToNoncontrollingInterest>
  <us-gaap:UndistributedEarningsAllocatedToParticipatingSecurities id="Tag286" decimals="-3" contextRef="D2013Q1" unitRef="USD">98000</us-gaap:UndistributedEarningsAllocatedToParticipatingSecurities>
  <us-gaap:UndistributedEarningsAllocatedToParticipatingSecurities id="Tag287" decimals="-3" contextRef="D2012Q1" unitRef="USD">94000</us-gaap:UndistributedEarningsAllocatedToParticipatingSecurities>
  <us-gaap:ParticipatingSecuritiesDistributedAndUndistributedEarnings id="Tag288" decimals="-3" contextRef="D2013Q1" unitRef="USD">98000</us-gaap:ParticipatingSecuritiesDistributedAndUndistributedEarnings>
  <us-gaap:ParticipatingSecuritiesDistributedAndUndistributedEarnings id="Tag289" decimals="-3" contextRef="D2012Q1" unitRef="USD">94000</us-gaap:ParticipatingSecuritiesDistributedAndUndistributedEarnings>
  <us-gaap:DividendsPreferredStockStock id="Tag290" decimals="-3" contextRef="D2013Q1" unitRef="USD">818000</us-gaap:DividendsPreferredStockStock>
  <us-gaap:DividendsPreferredStockStock id="Tag291" decimals="-3" contextRef="D2012Q1" unitRef="USD">818000</us-gaap:DividendsPreferredStockStock>
  <us-gaap:PreferredStockDividendsAndOtherAdjustments id="Tag292" decimals="-3" contextRef="D2012Q1" unitRef="USD">818000</us-gaap:PreferredStockDividendsAndOtherAdjustments>
  <us-gaap:IncomeLossFromContinuingOperations id="Tag293" decimals="-3" contextRef="D2013Q1" unitRef="USD">12060000</us-gaap:IncomeLossFromContinuingOperations>
  <us-gaap:IncomeLossFromContinuingOperations id="Tag294" decimals="-3" contextRef="D2012Q1" unitRef="USD">11993000</us-gaap:IncomeLossFromContinuingOperations>
  <us-gaap:DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax id="Tag295" decimals="-3" contextRef="D2012Q1" unitRef="USD">16000</us-gaap:DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax>
  <us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic id="Tag296" decimals="-3" contextRef="D2012Q1" unitRef="USD">12009000</us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic>
  <us-gaap:NetIncomeLossAvailableToCommonStockholdersDiluted id="Tag297" decimals="-3" contextRef="D2013Q1" unitRef="USD">12060000</us-gaap:NetIncomeLossAvailableToCommonStockholdersDiluted>
  <us-gaap:NetIncomeLossAvailableToCommonStockholdersDiluted id="Tag298" decimals="-3" contextRef="D2012Q1" unitRef="USD">12009000</us-gaap:NetIncomeLossAvailableToCommonStockholdersDiluted>
  <us-gaap:WeightedAverageNumberOfSharesOutstandingBasic id="Tag299" decimals="-3" contextRef="D2013Q1" unitRef="Shares">30365000</us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>
  <us-gaap:WeightedAverageNumberOfSharesOutstandingBasic id="Tag300" decimals="-3" contextRef="D2012Q1" unitRef="Shares">30189000</us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>
  <us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements id="Tag301" decimals="-3" contextRef="D2013Q1" unitRef="Shares">34000</us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements>
  <us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements id="Tag302" decimals="-3" contextRef="D2012Q1" unitRef="Shares">45000</us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements>
  <us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding id="Tag303" decimals="-3" contextRef="D2013Q1" unitRef="Shares">30399000</us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding>
  <us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding id="Tag304" decimals="-3" contextRef="D2012Q1" unitRef="Shares">30234000</us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding>
  <us-gaap:EarningsPerShareBasic id="Tag305" decimals="2" contextRef="D2013Q1" unitRef="USDPerShare">0.40</us-gaap:EarningsPerShareBasic>
  <us-gaap:EarningsPerShareDiluted id="Tag306" decimals="2" contextRef="D2013Q1" unitRef="USDPerShare">0.40</us-gaap:EarningsPerShareDiluted>
  <us-gaap:EarningsPerShareBasic id="Tag307" decimals="2" contextRef="D2012Q1" unitRef="USDPerShare">0.40</us-gaap:EarningsPerShareBasic>
  <us-gaap:EarningsPerShareDiluted id="Tag308" decimals="2" contextRef="D2012Q1" unitRef="USDPerShare">0.40</us-gaap:EarningsPerShareDiluted>
  <us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic id="Tag309" decimals="-3" contextRef="D2013Q1" unitRef="USD">12060000</us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic>
  <us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock id="Tag310" contextRef="D2013Q1">&lt;div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;The following table sets forth the computation of basic and diluted net income per share (&lt;i&gt;in thousands, except per share amounts&lt;/i&gt;):&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="MARGIN-LEFT: 0.75in; WIDTH: 629px; BORDER-COLLAPSE: collapse; HEIGHT: 654px" cellspacing="0" cellpadding="0" width="629" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 30.66%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="30%" colspan="4"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Three&amp;#160;Months&amp;#160;Ended&lt;br /&gt;
March&amp;#160;31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;2013&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.62%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;2012&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.36%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.36%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Income from continuing operations&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$12,976&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$12,916&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Less net income allocated to non-controlling interests&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(11)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Less net income allocated to participating securities:&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;Nonforfeitable dividends on participating securities&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(98)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(94)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Total net income allocated to participating securities&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(98)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(94)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Less net income allocated to preferred stockholders:&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;Preferred stock dividends&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(818)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(818)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Total net income allocated to preferred stockholders&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(818)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(818)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Income from continuing operations available to common stockholders&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;12,060&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;11,993&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Discontinued operations:&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;Gain on sale of assets, net&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;16&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Total net income from discontinued operations&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;16&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Net income available to common stockholders&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;12,060&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;12,009&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Effect of dilutive securities:&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Convertible preferred securities&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Net income for diluted net income per share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$12,060&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$12,009&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Shares for basic net income per share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;30,365&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;30,189&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Effect of dilutive securities:&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Stock options&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;34&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;45&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Convertible preferred securities&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Shares for diluted net income per share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;30,399&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;30,234&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Basic net income per share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$0.40&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$0.40&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Diluted net income per share&lt;/font&gt; &lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(1)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$0.40&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$0.40&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;_______________&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;(1)&lt;/font&gt;&lt;font style="FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt; &lt;font style="FONT-SIZE: 9pt" size="1"&gt;For the three months ended March&amp;#160;31, 2013 and 2012, the Series&amp;#160;C Cumulative Convertible Preferred Stock, the participating securities and the non-controlling interest have been excluded from the computation of diluted net income per share as such inclusion would be anti-dilutive.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/div&gt;
</us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock>
  <us-gaap:FairValueByBalanceSheetGroupingTextBlock id="Tag311" contextRef="D2013Q1">&lt;div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;The carrying value and fair value of our financial instruments as of March&amp;#160;31, 2013 and December&amp;#160;31, 2012 assuming election of fair value for our financial assets and financial liabilities were as follows (&lt;i&gt;in thousands&lt;/i&gt;):&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="MARGIN-LEFT: 46.35pt; WIDTH: 625px; BORDER-COLLAPSE: collapse; HEIGHT: 138px" cellspacing="0" cellpadding="0" width="625" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 28.08%; PADDING-TOP: 0in" valign="bottom" width="28%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 31.28%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="31%" colspan="3"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;At March&amp;#160;31, 2013&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 34.74%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="34%" colspan="3"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;At December&amp;#160;31, 2012&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 28.08%; PADDING-TOP: 0in" valign="bottom" width="28%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.16%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Carrying&lt;br /&gt;
Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.96%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.16%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Fair&lt;br /&gt;
Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.16%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Carrying&lt;br /&gt;
Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.94%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 17.66%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="17%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Fair&lt;br /&gt;
Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 28.08%; PADDING-TOP: 0in" valign="bottom" width="28%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Mortgage loans receivable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.16%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$39,741&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.96%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.16%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$45,060&lt;/font&gt;&lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(1)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.16%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$39,299&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 17.66%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="17%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$44,939&lt;/font&gt;&lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(1)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 28.08%; PADDING-TOP: 0in" valign="bottom" width="28%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Bonds payable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;2,035&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.96%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;2,035&lt;/font&gt;&lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(2)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;2,635&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 17.66%; PADDING-TOP: 0in" valign="bottom" width="17%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;2,635&lt;/font&gt;&lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(2)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 28.08%; PADDING-TOP: 0in" valign="bottom" width="28%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Bank borrowings&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;117,500&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.96%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;117,500&lt;/font&gt;&lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(2)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;115,500&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 17.66%; PADDING-TOP: 0in" valign="bottom" width="17%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;115,500&lt;/font&gt;&lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(2)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 28.08%; PADDING-TOP: 0in" valign="bottom" width="28%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Senior unsecured notes&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;185,800&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.96%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;194,475&lt;/font&gt;&lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(3)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;185,800&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 17.66%; PADDING-TOP: 0in" valign="bottom" width="17%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;194,838&lt;/font&gt;&lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(3)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 28.08%; PADDING-TOP: 0in" valign="bottom" width="28%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Contingent liabilities&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;6,854&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.96%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;6,854&lt;/font&gt;&lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(4)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;6,744&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 17.66%; PADDING-TOP: 0in" valign="bottom" width="17%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;6,744&lt;/font&gt;&lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(4)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;_____________&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;(1)&lt;/font&gt;&lt;font style="FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt; &lt;font style="FONT-SIZE: 9pt" size="1"&gt;Our investment in mortgage loans receivable is classified as Level 3.&amp;#160; The fair value is determined using a widely accepted valuation technique, discounted cash flow analysis on the expected cash flows.&amp;#160; The discount rate is determined using our assumption on market conditions adjusted for market and credit risk and current returns on our investments.&amp;#160; The discount rate used to value our future cash inflows of the mortgage loans receivable at March&amp;#160;31, 2013 and December&amp;#160;31, 2012 was 6.0%.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;(2)&lt;/font&gt;&lt;font style="FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt; &lt;font style="FONT-SIZE: 9pt" size="1"&gt;Our bonds payable and bank borrowings are at a variable interest rate.&amp;#160; The estimated fair value of our bonds payable and bank borrowings approximated their carrying values at March&amp;#160;31, 2013 and December&amp;#160;31, 2012 based upon prevailing market interest rates for similar debt arrangements.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;(3)&lt;/font&gt;&lt;font style="FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt; &lt;font style="FONT-SIZE: 9pt" size="1"&gt;Our obligation under our senior unsecured notes is classified as Level 3 and thus the fair value is determined using a widely accepted valuation technique, discounted cash flow analysis on the expected cash flows.&amp;#160; The discount rate is measured based upon management&amp;#8217;s estimates of rates currently prevailing for comparable loans available to us, and instruments of comparable maturities.&amp;#160; At March&amp;#160;31, 2013 and December&amp;#160;31, 2012,&amp;#160; the discount rate used to value our future cash outflow of our senior unsecured notes was 3.8% for those maturing before year 2019 and 4.3% for those maturing through year 2021.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;(4)&lt;/font&gt;&lt;font style="FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt; &lt;font style="FONT-SIZE: 9pt" size="1"&gt;Our contingent obligation under the earn-out liabilities is classified as Level 3. We estimated the fair value of the contingent earn-out payments using a discounted cash flow analysis. The discount rate that we use consists of a risk-free U.S. Treasury rate plus a company specific credit spread which we believe is acceptable by willing market participants.&amp;#160; At March&amp;#160;31, 2013 and December&amp;#160;31, 2012, the discount rate used to value our future cash outflow of the earn-out liability was 6.5% and 6.6%, respectively.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&amp;#160;&lt;/p&gt;&lt;/div&gt;
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  <us-gaap:StraightLineRent id="Tag441" decimals="-3" contextRef="D2012Q1" unitRef="USD">647000</us-gaap:StraightLineRent>
  <us-gaap:AmortizationOfFinancingCosts id="Tag442" decimals="-3" contextRef="D2012Q1" unitRef="USD">110000</us-gaap:AmortizationOfFinancingCosts>
  <us-gaap:OtherNoncashIncomeExpense id="Tag443" decimals="-3" contextRef="D2012Q1" unitRef="USD">-325000</us-gaap:OtherNoncashIncomeExpense>
  <us-gaap:IncreaseDecreaseInInterestPayableNet id="Tag444" decimals="-3" contextRef="D2012Q1" unitRef="USD">23000</us-gaap:IncreaseDecreaseInInterestPayableNet>
  <us-gaap:IncreaseDecreaseInAccruedInterestReceivableNet id="Tag445" decimals="-3" contextRef="D2012Q1" unitRef="USD">-172000</us-gaap:IncreaseDecreaseInAccruedInterestReceivableNet>
  <us-gaap:IncreaseDecreaseInOtherOperatingCapitalNet id="Tag446" decimals="-3" contextRef="D2012Q1" unitRef="USD">1681000</us-gaap:IncreaseDecreaseInOtherOperatingCapitalNet>
  <us-gaap:NetCashProvidedByUsedInOperatingActivities id="Tag447" decimals="-3" contextRef="D2012Q1" unitRef="USD">16838000</us-gaap:NetCashProvidedByUsedInOperatingActivities>
  <us-gaap:ProceedsFromSaleAndCollectionOfMortgageNotesReceivable id="Tag448" decimals="-3" contextRef="D2013Q1" unitRef="USD">462000</us-gaap:ProceedsFromSaleAndCollectionOfMortgageNotesReceivable>
  <us-gaap:PaymentsToAcquireNotesReceivable id="Tag449" decimals="-3" contextRef="D2013Q1" unitRef="USD">63000</us-gaap:PaymentsToAcquireNotesReceivable>
  <us-gaap:NetCashProvidedByUsedInInvestingActivities id="Tag450" decimals="-3" contextRef="D2013Q1" unitRef="USD">-6707000</us-gaap:NetCashProvidedByUsedInInvestingActivities>
  <us-gaap:ProceedsFromSaleOfRealEstateHeldforinvestment id="Tag451" decimals="-3" contextRef="D2012Q1" unitRef="USD">1248000</us-gaap:ProceedsFromSaleOfRealEstateHeldforinvestment>
  <us-gaap:ProceedsFromSaleAndCollectionOfMortgageNotesReceivable id="Tag452" decimals="-3" contextRef="D2012Q1" unitRef="USD">718000</us-gaap:ProceedsFromSaleAndCollectionOfMortgageNotesReceivable>
  <us-gaap:PaymentsToAcquireNotesReceivable id="Tag453" decimals="-3" contextRef="D2012Q1" unitRef="USD">1034000</us-gaap:PaymentsToAcquireNotesReceivable>
  <us-gaap:NetCashProvidedByUsedInInvestingActivities id="Tag454" decimals="-3" contextRef="D2012Q1" unitRef="USD">-17679000</us-gaap:NetCashProvidedByUsedInInvestingActivities>
  <us-gaap:ProceedsFromBankDebt id="Tag455" decimals="-3" contextRef="D2013Q1" unitRef="USD">2000000</us-gaap:ProceedsFromBankDebt>
  <us-gaap:RepaymentsOfSecuredDebt id="Tag456" decimals="-3" contextRef="D2013Q1" unitRef="USD">600000</us-gaap:RepaymentsOfSecuredDebt>
  <us-gaap:ProceedsFromStockOptionsExercised id="Tag457" decimals="-3" contextRef="D2013Q1" unitRef="USD">523000</us-gaap:ProceedsFromStockOptionsExercised>
  <us-gaap:NetCashProvidedByUsedInFinancingActivities id="Tag458" decimals="-3" contextRef="D2013Q1" unitRef="USD">-8247000</us-gaap:NetCashProvidedByUsedInFinancingActivities>
  <us-gaap:ProceedsFromBankDebt id="Tag459" decimals="-3" contextRef="D2012Q1" unitRef="USD">17000000</us-gaap:ProceedsFromBankDebt>
  <us-gaap:RepaymentsOfSecuredDebt id="Tag460" decimals="-3" contextRef="D2012Q1" unitRef="USD">565000</us-gaap:RepaymentsOfSecuredDebt>
  <us-gaap:ProceedsFromStockOptionsExercised id="Tag461" decimals="-3" contextRef="D2012Q1" unitRef="USD">151000</us-gaap:ProceedsFromStockOptionsExercised>
  <us-gaap:PaymentsForRepurchaseOfRedeemableNoncontrollingInterest id="Tag462" decimals="-3" contextRef="D2012Q1" unitRef="USD">2764000</us-gaap:PaymentsForRepurchaseOfRedeemableNoncontrollingInterest>
  <us-gaap:PaymentsOfDividendsMinorityInterest id="Tag463" decimals="-3" contextRef="D2012Q1" unitRef="USD">48000</us-gaap:PaymentsOfDividendsMinorityInterest>
  <us-gaap:NetCashProvidedByUsedInFinancingActivities id="Tag464" decimals="-3" contextRef="D2012Q1" unitRef="USD">-270000</us-gaap:NetCashProvidedByUsedInFinancingActivities>
  <us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease id="Tag465" decimals="-3" contextRef="D2013Q1" unitRef="USD">2430000</us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease>
  <us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease id="Tag466" decimals="-3" contextRef="D2012Q1" unitRef="USD">-1111000</us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease>
  <us-gaap:InterestPaidNet id="Tag467" decimals="-3" contextRef="D2013Q1" unitRef="USD">4118000</us-gaap:InterestPaidNet>
  <us-gaap:InterestPaidNet id="Tag468" decimals="-3" contextRef="D2012Q1" unitRef="USD">1855000</us-gaap:InterestPaidNet>
  <us-gaap:NatureOfOperations id="Tag469" contextRef="D2013Q1">&lt;div style='font-size:10.0pt;FONT-FAMILY: Times New Roman;'&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"&gt;&lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;1.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt; &lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt" size="2"&gt;General&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;LTC Properties,&amp;#160;Inc., a health care real estate investment trust (or REIT), was incorporated on May&amp;#160;12,&amp;#160;1992 in the State of Maryland and commenced operations on August&amp;#160;25, 1992.&amp;#160; We invest primarily in senior housing and long term care properties through acquisitions, development, mortgage loans and other investments. We conduct and manage our business as one operating segment, rather than multiple operating segments, for internal reporting and internal decision making purposes.&amp;#160;&amp;#160; Our primary objectives are to create, sustain and enhance stockholder equity value and provide current income for distribution to stockholders through real estate investments in senior housing and long term care properties managed by experienced operators.&amp;#160; Our primary senior housing and long term care property types include skilled nursing properties (or SNF), assisted living properties (or ALF), independent living properties (or ILF), memory care properties (or MC) and combinations thereof. To meet these objectives, we attempt to invest in properties that provide opportunity for additional value and current returns to our stockholders and diversify our investment portfolio by geographic location, operator, property type and form of investment.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;We have prepared consolidated financial statements included herein without audit and in the opinion of management have included all adjustments necessary for a fair presentation of the results of operations for the three months ended March&amp;#160;31, 2013 and 2012 pursuant to the rules&amp;#160;and regulations of the Securities and Exchange Commission (or SEC).&amp;#160; Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (or GAAP) have been condensed or omitted pursuant to rules&amp;#160;and regulations governing the presentation of interim financial statements.&amp;#160; The accompanying consolidated financial statements include the accounts of our company, its wholly-owned subsidiaries.&amp;#160; All significant intercompany accounts and transactions have been eliminated in consolidation.&amp;#160; The results of operations for the three months ended March&amp;#160;31, 2013 and 2012 are not necessarily indicative of the results for a full year.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;Certain reclassifications have been made to the prior period consolidated financial statements to conform to the current period presentation, including changes as a result of the application of accounting guidance for properties disposed or classified as held-for-sale. During the three months ended March&amp;#160;31, 2012, we sold a 140-bed skilled nursing property located in Texas for $1,248,000. See &lt;i&gt;Note 2. Real Estate Investments&lt;/i&gt; for further discussion. Additionally, we reclassified a 140-unit independent living property located in Texas from held-for-sale to held-for-use. The expenses, which were not recognized during the held-for-sale period, were recognized at the date of reclassification during the third quarter of 2012. This resulted in an increase of depreciation expense of $285,000.&amp;#160; Due to the market conditions, the timing of the ultimate disposal of this property was uncertain. These adjustments are normal and recurring in nature.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;No provision has been made for federal or state income taxes.&amp;#160; Our company qualifies as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended.&amp;#160; As such, we generally are not taxed on income that is distributed to our stockholders.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</us-gaap:NatureOfOperations>
  <us-gaap:RealEstateOwnedTextBlock id="Tag470" contextRef="D2013Q1">&lt;div style='font-size:10.0pt;FONT-FAMILY: Times New Roman;'&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"&gt;&lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;2.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt; &lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt" size="2"&gt;Real Estate Investments&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;Assisted living properties, independent living properties, memory care properties, and combinations thereof are included in the assisted living property type. Range of care properties (or ROC) property type consists of properties providing skilled nursing and any combination of assisted living, independent living and/or memory care services.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;Any reference to the number of properties, number of schools, number of units, number of beds, and yield on investments in real estate are unaudited and outside the scope of our independent registered public accounting firm&amp;#8217;s review of our consolidated financial statements in accordance with the standards of the Public Company Accounting Oversight Board.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;i&gt;&lt;font style="FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="2"&gt;Owned Properties.&lt;/font&gt;&lt;/i&gt; &lt;font style="FONT-SIZE: 11pt" size="2"&gt;The following table summarizes our investments in owned properties at March&amp;#160;31, 2013 &lt;i&gt;(dollar amounts in thousands)&lt;/i&gt;:&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 24.5%; PADDING-TOP: 0in" valign="bottom" width="24%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11.5%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Number&amp;#160;of&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Investment&lt;br /&gt;
per&lt;br /&gt;
Bed/Unit&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 24.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="24%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Type&amp;#160;of&amp;#160;Property&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Gross&lt;br /&gt;
Investments&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Percentage&amp;#160;of&lt;br /&gt;
Investments&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;of&lt;br /&gt;
Properties&lt;/font&gt; &lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(1)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;SNF&lt;br /&gt;
Beds&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.5%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;ALF&lt;br /&gt;
Units&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.5%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 24.5%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="24%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Skilled Nursing&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$448,010&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.5%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;49.4%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;73&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;8,435&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="10%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$53.11&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 24.5%; PADDING-TOP: 0in" valign="bottom" width="24%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Assisted Living&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;379,874&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11.5%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;41.9%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;96&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;4,502&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$84.38&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 24.5%; PADDING-TOP: 0in" valign="bottom" width="24%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Range of Care&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;43,907&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 11.5%; PADDING-TOP: 0in" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;4.8%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;8&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;634&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;274&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$48.36&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 24.5%; PADDING-TOP: 0in" valign="bottom" width="24%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Under Development&lt;/font&gt; &lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(2)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;22,347&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11.5%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;2.5%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 24.5%; PADDING-TOP: 0in" valign="bottom" width="24%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Schools&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;12,444&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;1.4%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 24.5%; PADDING-TOP: 0in" valign="bottom" width="24%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Totals&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$906,582&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;100.0%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;179&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;9,069&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;4,776&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
&lt;p style="MARGIN: 0in 0in 0pt 13.5pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 31.5pt; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1"&gt;(1)&lt;/font&gt;&lt;font style="FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt; &lt;font style="FONT-SIZE: 8pt" size="1"&gt;We have investments in 26 states leased to 35 different operators.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 31.5pt; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 31.5pt; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1"&gt;(2)&lt;/font&gt;&lt;font style="FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt; &lt;font style="FONT-SIZE: 8pt" size="1"&gt;Includes a MC development with 60 units and two combination ALF and MC developments with a total of 158 units, a 143-bed SNF development and a 120-bed SNF redevelopment project.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 31.5pt; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;All of our owned properties are leased to our operators pursuant to non-cancelable operating leases generally with an initial term of 10 to 15 years.&amp;#160; Each lease is a triple net lease covering one or more properties which requires the operator/lessee to pay all costs necessary in the operations of the facilities.&amp;#160; Many of the leases contain renewal options.&amp;#160; The leases provide for fixed minimum base rent during the initial and renewal periods. &amp;#160;The majority of our leases contain provisions for specified annual increases over the rents of the prior year that are generally computed in one of four ways depending on specific provisions of each lease:&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="top" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;(i)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 89%; PADDING-TOP: 0in" valign="top" width="89%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;a specified percentage increase over the prior year&amp;#8217;s rent, generally between 2.0% and 3.0%;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="top" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;(ii)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 89%; PADDING-TOP: 0in" valign="top" width="89%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;a calculation based on the Consumer Price Index;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="top" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;(iii)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 89%; PADDING-TOP: 0in" valign="top" width="89%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;as a percentage of facility net patient revenues in excess of base amounts; or&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="top" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;(iv)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 89%; PADDING-TOP: 0in" valign="top" width="89%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;specific dollar increases.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;As of March&amp;#160;31, 2013, we have a commitment to provide, under certain conditions, up to $5,000,000 per year through December&amp;#160;2014 to an existing operator for expansion of the 37 properties they lease from us.&amp;#160; The estimated yield of this commitment is 9.5% plus the positive difference, if any, between the average yields on the U.S. Treasury 10-year note for the five days prior to funding, minus 420 basis points. In addition, the following table summarizes our investment commitments as of March&amp;#160;31, 2013, excluding the $5,000,000 per year commitment, and year to date funding on our development, redevelopment, renovation and expansion projects &lt;i&gt;(excludes capitalized interest, dollar amounts in thousands)&lt;/i&gt;:&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;table style="MARGIN-LEFT: 0.5in; WIDTH: 86.66%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="86%" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.76%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;Type&amp;#160;of&amp;#160;Property&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;Investment&lt;br /&gt;
Commitment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;2013&lt;br /&gt;
Funding&amp;#160;&lt;/font&gt;&lt;font style="FONT-SIZE: 6pt; POSITION: relative; TOP: -2pt" size="1"&gt;(2)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;Commitment&lt;br /&gt;
Funded&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;Remaining&lt;br /&gt;
Commitment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;Number&amp;#160;of&lt;br /&gt;
Properties&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;Number&amp;#160;of&lt;br /&gt;
Beds/Units&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.16%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.76%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="15%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;Skilled Nursing&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;$36,644&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;$2,313&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;$11,418&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;$25,226&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;6&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&amp;#160;785&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.16%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.76%; PADDING-TOP: 0in" valign="top" width="15%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;Assisted Living&lt;/font&gt; &lt;font style="FONT-SIZE: 6pt; POSITION: relative; TOP: -2pt" size="1"&gt;(1)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;40,927&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;3,880&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;12,122&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;28,805&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;7&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&amp;#160;494&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.16%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.76%; PADDING-TOP: 0in" valign="top" width="15%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;Totals&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;$77,571&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;$6,193&amp;#160;&lt;/font&gt;&lt;font style="FONT-SIZE: 6pt; POSITION: relative; TOP: -2pt" size="1"&gt;(3)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman; POSITION: relative; TOP: -2pt" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;$23,540&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;$54,031&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;13&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;1,279&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.16%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
&lt;p style="MARGIN: 0in 0in 0pt 45pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 63pt; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1"&gt;(1)&lt;/font&gt;&lt;font style="FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt; &lt;font style="FONT-SIZE: 8pt" size="1"&gt;Includes the development of a 60-unit memory care property for $9,817 and two assisted living and memory care combination properties for a total of $16,385, the expansion of three assisted living properties for a total $14,600 and the renovation of a 140-unit independent living property for $125.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 63pt; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 63pt; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1"&gt;(2)&lt;/font&gt;&lt;font style="FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt; &lt;font style="FONT-SIZE: 8pt" size="1"&gt;Excludes $117 of capital improvement on a completed project with no remaining commitments.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 63pt; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 63pt; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1"&gt;(3)&lt;/font&gt;&lt;font style="FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt; &lt;font style="FONT-SIZE: 8pt" size="1"&gt;In April&amp;#160;of 2013, we funded $1,398 under investment commitments.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 63pt; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;During the three months ended March&amp;#160;31, 2012, we purchased a 144-bed skilled nursing property located in Texas for an aggregate purchase price of $18,600,000.&amp;#160; Additionally, we sold a 140-bed skilled nursing property located in Texas for $1,248,000 and recognized a gain, net of selling expenses, of $16,000. This property was leased under a master lease and the economic terms of this master lease did not change as a result of this sale.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;i&gt;&lt;font style="FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="2"&gt;Mortgage Loans.&lt;/font&gt;&lt;/i&gt; &lt;font style="FONT-SIZE: 11pt" size="2"&gt;The following table summarizes our investments in mortgage loans secured by first mortgages at March&amp;#160;31, 2013 &lt;i&gt;(dollar amounts in thousands)&lt;/i&gt;:&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 23.5%; PADDING-TOP: 0in" valign="bottom" width="23%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Percentage&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 9%; PADDING-TOP: 0in" valign="bottom" width="9%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 17.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="17%" colspan="3"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Number&amp;#160;of&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Investment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 23.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="23%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Type&amp;#160;of&amp;#160;Property&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Gross&lt;br /&gt;
Investments&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;of&lt;br /&gt;
Investments&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 9%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="9%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Number&amp;#160;&lt;br /&gt;
of Loans&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;of&lt;br /&gt;
Properties&lt;/font&gt;&lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(1)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="8%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;SNF&amp;#160;&lt;br /&gt;
Beds&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.5%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="8%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;ALF&lt;br /&gt;
Units&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;per&lt;br /&gt;
Bed/Unit&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 23.5%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="23%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Skilled Nursing&lt;/font&gt; &lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(2)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$25,097&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;62.5%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 9%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="9%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;15&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0.3in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;17&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="8%"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;1,861&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="8%"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$13.49&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 23.5%; PADDING-TOP: 0in" valign="top" width="23%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Assisted Living&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;12,245&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;30.5%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 9%; PADDING-TOP: 0in" valign="bottom" width="9%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.3in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;8&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 8%; PADDING-TOP: 0in" valign="bottom" width="8%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 8%; PADDING-TOP: 0in" valign="bottom" width="8%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;211&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$58.03&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 23.5%; PADDING-TOP: 0in" valign="top" width="23%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Range of Care&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;2,800&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;7.0%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 9%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="9%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0.3in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="8%"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;99&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="8%"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;74&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$16.18&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 23.5%; PADDING-TOP: 0in" valign="top" width="23%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Totals&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="10%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$40,142&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="10%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;100.0%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 9%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="9%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;19&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="10%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0.3in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;26&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="8%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;1,960&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="8%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;285&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
&lt;p style="MARGIN: 0in 0in 0pt 27.35pt; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 27.35pt; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1"&gt;(1)&lt;/font&gt;&lt;font style="FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt; &lt;font style="FONT-SIZE: 8pt" size="1"&gt;We have investments in 8 states that include mortgages to 11 different operators.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 27pt; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 27pt; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1"&gt;(2)&lt;/font&gt;&lt;font style="FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt; &lt;font style="FONT-SIZE: 8pt" size="1"&gt;Includes a mortgage and construction loan secured by a currently operating skilled nursing property and parcel of land upon which a 106-bed replacement facility will be constructed. The agreement gives us the right to purchase the replacement facility for $13,500 during an 18 month period beginning on the first anniversary of the issuance of the certificate of occupancy.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 27pt; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;At March&amp;#160;31, 2013, the mortgage loans had interest rates ranging from 7.0% to 13.5% and maturities ranging from 2014 to 2022.&amp;#160; In addition, some loans contain certain guarantees, provide for certain facility fees and generally have 20-year to 25-year amortization schedules.&amp;#160; The majority of the mortgage loans provide for annual increases in the interest rate based upon a specified increase of 10 to 25 basis points. During the three months ended March&amp;#160;31, 2013 and 2012, we received $462,000 and $718,000, respectively, in regularly scheduled principal payments. During the three months ended March&amp;#160;31, 2013, we funded $910,000 under a $10,600,000 mortgage and construction loan and we have a remaining commitment of $7,070,000.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
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  <us-gaap:LoansNotesTradeAndOtherReceivablesDisclosureTextBlock id="Tag471" contextRef="D2013Q1">&lt;div style='font-size:10.0pt;FONT-FAMILY: Times New Roman;'&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"&gt;&lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;3.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt; &lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt" size="2"&gt;Notes Receivable&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;Notes receivables consist of various loans and line of credit agreements with certain operators. During the three months ended March&amp;#160;31, 2013 and 2012, we received $114,000 and $191,000, respectively, in principal payments and we funded $63,000 and $1,034,000, respectively, under these notes. At March&amp;#160;31, 2013, we had two term loans outstanding with a carrying value of $2,920,000 at a weighted average interest of 8.6%. Also at March&amp;#160;31, 2013, we committed to provide $1,525,000 under six loans and line of credit agreements to certain operators. As of March&amp;#160;31, 2013, we funded $209,000 under these commitments and have a remaining commitment of $1,316,000. In April&amp;#160;2013, we funded $60,000 under these commitments. Accordingly, we have a remaining commitment of $1,256,000. These loans and line of credit commitments have interest ranging from 9.0% to 12.0% and maturities ranging from 2013 to 2014.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
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  <us-gaap:MarketableSecuritiesTextBlock id="Tag472" contextRef="D2013Q1">&lt;div style='font-size:10.0pt;FONT-FAMILY: Times New Roman;'&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"&gt;&lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;4.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt; &lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt" size="2"&gt;Marketable Securities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;During 2012, Skilled Healthcare Group,&amp;#160;Inc. (or SHG) redeemed all of their outstanding Senior Subordinated Notes at par value plus accrued and unpaid interest up to the redemption date. The SHG Senior Subordinated Notes had a face rate of 11.0% and an effective yield of 11.1%. During the three months ended March&amp;#160;31, 2012, we recognized $180,000 of interest income from our $6,500,000 investment in SHG Senior Subordinated Notes. One of our board members is the chief executive officer of SHG. See &lt;i&gt;Note 9. Transactions with Related Party&lt;/i&gt; for further discussion.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</us-gaap:MarketableSecuritiesTextBlock>
  <us-gaap:DebtDisclosureTextBlock id="Tag473" contextRef="D2013Q1">&lt;div style='font-size:10.0pt;FONT-FAMILY: Times New Roman;'&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"&gt;&lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;5.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt; &lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt" size="2"&gt;Debt Obligations&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;i&gt;&lt;font style="FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="2"&gt;Bank Borrowings.&lt;/font&gt;&lt;/i&gt; &lt;font style="FONT-SIZE: 11pt" size="2"&gt;During 2012, we amended our Unsecured Credit Agreement increasing the commitment to $240,000,000 with the opportunity to increase the credit amount up to a total of $350,000,000. Additionally, the drawn pricing was decreased by 25 basis points, the undrawn pricing was decreased by 10 basis points and the maturity of the facility was extended for one additional year to May&amp;#160;25, 2016. The amendment also provides for a one-year extension option at our discretion, subject to customary conditions.&amp;#160; Based on our leverage at March&amp;#160;31, 2013, the amended facility provides for interest annually at LIBOR plus 150 basis points and the unused commitment fee was 30 basis points.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;During the three months ended March&amp;#160;31, 2013, we borrowed $2,000,000 under our Unsecured Credit Agreement.&amp;#160; At March&amp;#160;31, 2013, we had $117,500,000 outstanding and $122,500,000 available for borrowing. At March&amp;#160;31, 2013, we were in compliance with all our covenants.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;i&gt;&lt;font style="FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="2"&gt;Senior Unsecured Notes.&lt;/font&gt;&lt;/i&gt;&lt;font style="FONT-SIZE: 11pt" size="2"&gt;&amp;#160; At March&amp;#160;31, 2013 and December&amp;#160;31, 2012, we had $185,800,000 outstanding under our Senior Unsecured Notes with a weighted average interest rate of 5.2% and $100,000,000 available under an Amended and Restated Note Purchase and Private Shelf agreement which provides for the possible issuance of senior unsecured fixed-rate term notes through October&amp;#160;19, 2014.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;i&gt;&lt;font style="FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="2"&gt;Bonds Payable&lt;/font&gt;&lt;/i&gt;&lt;font style="FONT-SIZE: 11pt" size="2"&gt;.&amp;#160; At March&amp;#160;31, 2013 and December&amp;#160;31, 2012, we had outstanding principal of $2,035,000 and $2,635,000 respectively, on multifamily tax-exempt revenue bonds that are secured by five assisted living properties in Washington. &amp;#160;These bonds bear interest at a variable rate that is reset weekly and mature during 2015.&amp;#160; For the three months ended March&amp;#160;31, 2013, the weighted average interest rate, including letter of credit fees, on the outstanding bonds was 2.9%.&amp;#160; During the three months ended March&amp;#160;31, 2013 and 2012, we paid $600,000 and $565,000, respectively, in regularly scheduled principal payments.&amp;#160; As of March&amp;#160;31, 2013 and December&amp;#160;31, 2012, the aggregate carrying value of real estate properties securing our bonds payable was $6,584,000 and $6,650,000, respectively.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</us-gaap:DebtDisclosureTextBlock>
  <us-gaap:StockholdersEquityNoteDisclosureTextBlock id="Tag474" contextRef="D2013Q1">&lt;div style='font-size:10.0pt;FONT-FAMILY: Times New Roman;'&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"&gt;&lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;6.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt; &lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt" size="2"&gt;Equity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;Equity is allocated between controlling and non-controlling interests as follows &lt;i&gt;(in thousands)&lt;/i&gt;:&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;table style="MARGIN-LEFT: 28.35pt; WIDTH: 94.76%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="94%" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.82%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;LTC&lt;br /&gt;
Properties,&amp;#160;Inc.&lt;br /&gt;
Stockholders&amp;#8217;&lt;br /&gt;
Equity&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.82%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Non-controlling&lt;br /&gt;
Interest&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Total&lt;br /&gt;
Equity&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.48%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Balance at December&amp;#160;31, 2012&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.82%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$463,101&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.82%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$7&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$463,108&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.48%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Net income&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;12,976&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;12,976&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.48%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Issue common stock&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;4,293&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;4,293&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.48%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Vested restricted common stock&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;985&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;985&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.48%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Stock option exercise&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;523&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;523&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.48%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Reclassification adjustment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 15.1pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(9)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(9&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.48%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Non-controlling interest preferred return&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 20.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(7)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(7&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.48%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Preferred stock dividends&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 15.1pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(818)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(818&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.48%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Common stock dividends&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 15.1pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(14,217)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(14,217&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.48%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Other&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.82%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 15.1pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(23)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.82%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(23&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.48%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Balance at March&amp;#160;31, 2013&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.82%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$466,811&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.82%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="10%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$466,811&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.48%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;i&gt;&lt;font style="FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="2"&gt;Preferred Stock.&lt;/font&gt;&lt;/i&gt;&lt;font style="FONT-SIZE: 11pt" size="2"&gt;&amp;#160; At March&amp;#160;31, 2013, we had 2,000,000 shares of our 8.5% Series&amp;#160;C Cumulative Convertible Preferred Stock (or Series&amp;#160;C preferred stock) outstanding.&amp;#160; Our Series&amp;#160;C preferred stock is convertible into 2,000,000 shares of our common stock at $19.25 per share.&amp;#160; Total shares reserved for issuance of common stock related to the conversion of Series&amp;#160;C preferred stock were 2,000,000 shares at March&amp;#160;31, 2013.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;i&gt;&lt;font style="FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="2"&gt;Common Stock.&amp;#160;&lt;/font&gt;&lt;/i&gt; &lt;font style="FONT-SIZE: 11pt" size="2"&gt;During the three months ended March&amp;#160;31, 2013, we acquired 600 shares of common stock held by employees who tendered owned shares to satisfy tax withholding obligations. We have an equity distribution agreement which allows us to issue and sell, from time to time, up to $85,686,000 in aggregate offering price of our common shares.&amp;#160; Sales of common shares are made by means of ordinary brokers&amp;#8217; transactions at market prices, in block transactions, or as otherwise agreed between us and our sales agents.&amp;#160; During the three months ended March&amp;#160;31, 2012, we did not sell shares of our common stock under our equity distribution agreement. During the three months ended March&amp;#160;31, 2013, we sold 126,742 shares of common stock for $4,895,000 in net proceeds under our equity distribution agreement. In conjunction with the sale of common stock, we reclassified $602,000 of accumulated costs associated with the equity distribution agreement to additional paid in capital. At March&amp;#160;31, 2013, we had $59,578,000 available under this amended equity distribution agreement. Depending upon market conditions, we anticipate issuing securities under our registration statements to invest in additional properties and to repay borrowings under our unsecured line of credit.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;i&gt;&lt;font style="FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="2"&gt;Available Shelf Registrations.&amp;#160;&lt;/font&gt;&lt;/i&gt; &lt;font style="FONT-SIZE: 11pt" size="2"&gt;Our shelf registration statement provides us with the capacity to offer up to $400,000,000 in common stock, preferred stock, warrants, debt, depositary shares, or units.&amp;#160; We may from time to time raise capital under our current shelf registration in amounts, at prices, and on terms to be announced when and if the securities are offered. The specifics of any future offerings, along with the use of proceeds of any securities offered, will be described in detail in a prospectus supplement, or other offering materials, at the time of the offering. At March&amp;#160;31, 2013, we had availability of $167,614,000 under our effective shelf registration.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;i&gt;&lt;font style="FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="2"&gt;Non-controlling Interests&lt;/font&gt;&lt;/i&gt;&lt;font style="FONT-SIZE: 11pt" size="2"&gt;. We currently have no limited partners. During 2012, we had one limited partnership. The limited partnership agreement allowed the limited partners to convert, on a one-for-one basis, their limited partnership units into shares of common stock or the cash equivalent, at our option. Since we exercised control, we consolidated the limited partnership and we carried the non-controlling interests at cost.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;During 2012, two of our limited partners exercised their conversion rights to exchange all of their 112,588 partnership units. At our discretion, we converted 23,294 partnership units into an equal number of our common shares.&amp;#160; The partnership conversion price was $17.00 per partnership unit.&amp;#160; At our discretion, we elected to satisfy the conversion of 89,294 limited partnership units with cash.&amp;#160; We paid the limited partners $2,764,000, which represents the closing price of our common stock on the redemption date plus $0.05 per share multiplied by the number of limited partnership units redeemed.&amp;#160; The amount we paid upon redemption exceeded the book value of the limited partnership interest redeemed by $1,246,000. Accordingly, the $1,246,000 excess book value of the limited partners&amp;#8217; interest in the partnership was reclassified to stockholders&amp;#8217; equity. We accounted for these conversions as an equity transaction because there was no change in control requiring consolidation or deconsolidation and remeasurement. Subsequent to these partnership conversions, the assets held by the limited partnership were transferred to other subsidiaries of the Company and the limited partnership was terminated.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;The following table represents the change from net income attributable to us and transfers from non-controlling interest &lt;i&gt;(in thousands):&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;i&gt;&lt;font style="FONT-SIZE: 11.5pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="3"&gt;&amp;#160;&lt;/font&gt;&lt;/i&gt;&lt;/p&gt;
&lt;table style="MARGIN-LEFT: 0.5in; WIDTH: 86.66%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="86%" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 68.26%; PADDING-TOP: 0in" valign="bottom" width="68%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 25.96%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="25%" colspan="3"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Three&amp;#160;months&amp;#160;ended&lt;br /&gt;
&amp;#160;March&amp;#160;31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.88%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 68.26%; PADDING-TOP: 0in" valign="bottom" width="68%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;2013&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.88%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;2012&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.88%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 68.26%; PADDING-TOP: 0in" valign="bottom" width="68%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Net income attributable to LTC Properties,&amp;#160;Inc.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 15.85pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$12,976&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$12,921&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 68.26%; PADDING-TOP: 0in" valign="bottom" width="68%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Transfers from the non-controlling interest&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11.54%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 15.85pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11.54%; PADDING-TOP: 0in" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 68.26%; PADDING-TOP: 0in" valign="bottom" width="68%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Decrease in paid-in capital for limited partners conversion&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 15.85pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(1,246)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 68.26%; PADDING-TOP: 0in" valign="bottom" width="68%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Change from net income attributable to LTC Properties,&amp;#160;Inc. and transfers from non-controlling interest&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 15.85pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$12,976&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$11,675&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;i&gt;&lt;font style="FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="2"&gt;Distributions.&lt;/font&gt;&lt;/i&gt; &lt;font style="FONT-SIZE: 11pt" size="2"&gt;We declared and paid the following cash dividends &lt;i&gt;(in thousands)&lt;/i&gt;:&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;table style="MARGIN-LEFT: 0.25in; WIDTH: 93.34%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="93%" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 32.14%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="32%" colspan="3"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Three&amp;#160;months&amp;#160;ended&amp;#160;March&amp;#160;31,&amp;#160;2013&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 32.14%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="32%" colspan="3"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Three&amp;#160;months&amp;#160;ended&amp;#160;March&amp;#160;31,&amp;#160;2012&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Declared&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Paid&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Declared&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.14%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Paid&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Preferred Stock&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 30pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Series&amp;#160;C&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;818&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;818&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;818&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;818&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Total Preferred&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;818&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;818&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;818&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;818&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15%; PADDING-TOP: 0in" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Common Stock &lt;font style="POSITION: relative; TOP: -3pt"&gt;(1)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;14,217&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;14,217&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;13,226&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;13,226&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$15,035&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$15,035&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$14,044&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="15%"&gt;
&lt;p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$14,044&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.75in; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;(1)&lt;/font&gt;&lt;font style="FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt; &lt;font style="FONT-SIZE: 9pt" size="1"&gt;Represents $0.155 per share per month and $0.145 per share per month for the three months ended March&amp;#160;31, 2013 and 2012, respectively.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.75in; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;In April&amp;#160;2013, we declared a monthly cash dividend of $0.155 per share on our common stock for the months of April, May&amp;#160;and June&amp;#160;2013, payable on April&amp;#160;30, May&amp;#160;31 and June&amp;#160;28, 2013, respectively, to stockholders of record on April&amp;#160;22, May&amp;#160;23 and June&amp;#160;20, 2013, respectively.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;i&gt;&lt;font style="FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="2"&gt;Other Equity.&lt;/font&gt;&lt;/i&gt;&lt;font style="FONT-SIZE: 11pt" size="2"&gt;&amp;#160; At March&amp;#160;31, 2013 and December&amp;#160;31, 2012, other equity consisted of accumulated comprehensive income of $143,000 and $152,000, respectively.&amp;#160; This balance represents the net unrealized holding gains on available-for-sale REMIC Certificates recorded in 2005 when we repurchased the loans in the underlying loan pool.&amp;#160; This amount is being amortized to increase interest income over the remaining life of the loans that we repurchased from the REMIC Pool.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;i&gt;&lt;font style="FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="2"&gt;Stock-Based Compensation&lt;/font&gt;&lt;/i&gt;&lt;font style="FONT-SIZE: 11pt" size="2"&gt;.&amp;#160; During the three months ended March&amp;#160;31, 2013, a total of 22,000 stock options were exercised at a total option value of $523,000 and a total market value on the date of exercise of $865,000. During the three months ended March&amp;#160;31, 2012, a total of 10,000 stock options were exercised at a total option value of $151,000 and a total market value on the date of exercise of $305,000. No stock options were issued during the three months ended March&amp;#160;31, 2013 and 2012. At March&amp;#160;31, 2013, we had 73,334 stock options outstanding and all stock options are exercisable.&amp;#160; Compensation expense related to the vesting of stock options for the three months ended March&amp;#160;31, 2012 was $4,000.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;During the three months ended March, 31, 2013, we granted 20,000 shares of restricted common stock at $36.26 per share. These shares all vest on June&amp;#160;1, 2016. Also during the three months ended March&amp;#160;31, 2013, we accelerated the vesting of 18,180 shares of restricted common stock due to the retirement of our Senior Vice President, Marketing and Strategic Planning. Accordingly, we recorded $457,000 of compensation expense related to the accelerated vesting. During the three months ended March, 31, 2012, we granted 56,200 shares of restricted common stock at $31.77 per share. The vesting of these shares are as follows: 14,000 shares vest ratably over a five-year period from the grant date, 30,000 shares all vest on June&amp;#160;15, 2015, and 12,200 shares all vest on January&amp;#160;10, 2016. During the three months ended March&amp;#160;31, 2013 and 2012, we recognized $985,000 and $448,000, respectively, of compensation expense related to the vesting of restricted common stock.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
  <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock id="Tag475" contextRef="D2013Q1">&lt;div style='font-size:10.0pt;FONT-FAMILY: Times New Roman;'&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"&gt;&lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;7.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt; &lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt" size="2"&gt;Commitments and Contingencies&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;As part of an acquisition in 2011, we committed to provide a contingent payment if certain operational thresholds are met.&amp;#160; The contingent payment was recorded at fair value, which was estimated using a discounted cash flow analysis, and we are accreting the contingent liability to the estimated settlement amount as of the payment date.&amp;#160; The fair value of such contingent liability is re-evaluated on a quarterly basis based on changes in estimates of future operating results and changes in market discount rates. Any changes in estimated fair value are recognized in our results of operations. During&amp;#160; the three months ended March&amp;#160;31, 2013 and 2012, we recorded non-cash interest expense of $110,000 related to the contingent liability. At March&amp;#160;31, 2013 and December&amp;#160;31, 2012, the contingent liability had a carrying value of $6,854,000 and $6,744,000, respectively.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;At March&amp;#160;31, 2013, we had outstanding commitments totaling $77,571,000 to develop, re-develop, renovate or expand six skilled nursing properties with a total of 785 beds, a memory care property with 60 units, an independent living property with 140 units, two assisted living and memory care combination properties with a total of 158 units, and three assisted living properties with a total of 136 units.&amp;#160; We also have a commitment to provide, under certain conditions, up to $5,000,000 per year through December&amp;#160;2014 to an existing operator for expansion of the 37 properties they lease from us.&amp;#160; See &lt;i&gt;Note 2. Real Estate Investments&lt;/i&gt; for further discussion of these commitments. Additionally at March&amp;#160;31, 2013, we had a $10,600,000 mortgage and construction commitment. As of March&amp;#160;31, 2013, we funded $3,530,000 under this commitment and have a remaining commitment of $7,070,000. See &lt;i&gt;Note 2. Real Estate Investments&lt;/i&gt; for further discussion of this mortgage and construction loan.&amp;#160; We also committed to provide $1,525,000 in loan and line of credit agreements to certain operators. As of March&amp;#160;31, 2013, we had funded $209,000 under these commitments and have a remaining commitment of $1,316,000. See &lt;i&gt;Note 3. Notes Receivables&lt;/i&gt; for further discussion of these commitments.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
  <ltc:MajorOperatorTextBlock id="Tag476" contextRef="D2013Q1">&lt;div style='font-size:10.0pt;FONT-FAMILY: Times New Roman;'&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"&gt;&lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;8.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt; &lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt" size="2"&gt;Major Operators&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;We have three operators from each of which we derive over 10% of our rental revenue and interest income from mortgage loans.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;In 2006, Extendicare Services,&amp;#160;Inc. (or EHSI), one of our major operators, effected a reorganization whereby it completed a spin-off of Assisted Living Concepts,&amp;#160;Inc. (or ALC).&amp;#160; ALC is currently a NYSE traded public company operating assisted living centers. The remaining EHSI assets and operations were converted into a Canadian REIT (Extendicare REIT) listed on the Toronto Stock Exchange (or TSX).&amp;#160; During 2012, Extendicare REIT converted from an income trust structure to a corporate structure under a corporation named Extendicare,&amp;#160;Inc. (or Extendicare). Both Extendicare and ALC continue to be parties to the leases with us.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;On February&amp;#160;25, 2013, ALC entered into an Agreement and Plan of Merger (or the Merger Agreement) with Aid Holdings, LLC, a Delaware limited liability company (or Aid Holdings), and Aid Merger Sub, LLC, a Delaware limited liability company and a wholly owned subsidiary of Aid Holdings (or Aid Merger Sub), providing for the merger of Aid Merger Sub with and into ALC (or the Merger), with ALC surviving the Merger as a wholly-owned subsidiary of Aid Holdings. Aid Holdings and Aid Merger Sub are affiliates of TPG Capital, L.P. Documents publicly available contemplate the merger being completed in summer of 2013.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;Extendicare REIT and ALC collectively lease 37 assisted living properties with a total of 1,430 units owned by us representing approximately 6.7%, or $52,877,000, of our total assets at March&amp;#160;31, 2013 and 10.7% of rental revenue and interest income from mortgage loans recognized as of March&amp;#160;31, 2013.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;Brookdale Senior Living Communities,&amp;#160;Inc. (or Brookdale Communities) is a wholly owned subsidiary of a publicly traded company, Brookdale Senior Living,&amp;#160;Inc. (or Brookdale). Brookdale Communities leases 35 assisted living properties with a total of 1,414 units owned by us representing approximately 6.7%, or $53,038,000, of our total assets at March&amp;#160;31, 2013 and 10.7% of rental revenue and interest income from mortgage loans recognized as of March&amp;#160;31, 2013.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;Preferred Care,&amp;#160;Inc. (or Preferred Care), through various wholly owned subsidiaries, operates 27 skilled nursing properties and two range of care properties that we own or on which we hold mortgages secured by first trust deeds.&amp;#160; These properties consist of a total of 3,354 skilled nursing beds and 49 assisted living units. This represents approximately 6.6%, or $51,945,000, of our total assets at March&amp;#160;31, 2013 and 10.5% of rental revenue and interest income from mortgage loans recognized as of March&amp;#160;31, 2013. They also operate one skilled nursing property under a sub-lease with another lessee we have which is not included in the Preferred Care rental revenue and interest income from mortgage loans.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;Our financial position and ability to make distributions may be adversely affected by financial difficulties experienced by Brookdale Communities, Extendicare, ALC, Preferred Care, or any of our lessees and borrowers, including any bankruptcies, inability to emerge from bankruptcy, insolvency or general downturn in business of any such operator, or in the event any such operator does not renew and/or extend its relationship with us or our borrowers when it expires.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</ltc:MajorOperatorTextBlock>
  <us-gaap:RelatedPartyTransactionsDisclosureTextBlock id="Tag477" contextRef="D2013Q1">&lt;div style='font-size:10.0pt;FONT-FAMILY: Times New Roman;'&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"&gt;&lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;9.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt; &lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt" size="2"&gt;Transactions with Related Party&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;We have entered into transactions with Skilled Healthcare Group,&amp;#160;Inc. (or SHG).&amp;#160; One of our directors, Boyd W. Hendrickson, serves as Chief Executive Officer of SHG.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;In December&amp;#160;2005, we purchased, on the open market, $10,000,000 face value of SHG Senior Subordinated Notes with a face rate of 11.0% and an effective yield of 11.1%.&amp;#160; Our Board of Directors, with Mr.&amp;#160;Hendrickson abstaining, ratified the purchase of SHG Senior Subordinated Notes.&amp;#160; As a result of an early redemption by SHG in 2007, we had a remaining investment in $6,500,000 face value of SHG Senior Subordinated Notes. During 2012, SHG redeemed all of their outstanding Senior Subordinated Notes at par value plus accrued and unpaid interest up to the redemption date. During the three months ended March&amp;#160;31, 2012, we recognized $180,000 of interest income related to the SHG Senior Subordinated Notes.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;In addition, during September&amp;#160;2007 SHG purchased the assets of Laurel Healthcare (or Laurel).&amp;#160; We were not a direct party to this transaction.&amp;#160; One of the assets SHG purchased was Laurel&amp;#8217;s leasehold interests in the skilled nursing properties in New Mexico Laurel leased from us under a 15-year master lease agreement dated in February&amp;#160;2006.&amp;#160; Our Board of Directors, with Mr.&amp;#160;Hendrickson abstaining, ratified our consent to the assignment of Laurel&amp;#8217;s master lease to subsidiaries of SHG.&amp;#160; The economic terms of the master lease agreement did not change as a result of our assignment of the master lease to subsidiaries of SHG.&amp;#160; During the three months ended March&amp;#160;31, 2013 and 2012, we received $1,113,000 and $1,086,000, respectively, in rental income and recorded $12,000 and $39,000, respectively, in straight-line rental income from subsidiaries of SHG.&amp;#160; At March&amp;#160;31, 2013 and December&amp;#160;31, 2012, the straight-line rent receivable from subsidiaries of SHG was $3,203,000 and $3,191,000, respectively.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
  <us-gaap:EarningsPerShareTextBlock id="Tag478" contextRef="D2013Q1">&lt;div style='font-size:10.0pt;FONT-FAMILY: Times New Roman;'&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"&gt;&lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;10.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt; &lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt" size="2"&gt;Earnings per Share&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;The following table sets forth the computation of basic and diluted net income per share (&lt;i&gt;in thousands, except per share amounts&lt;/i&gt;):&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;
&lt;table style="MARGIN-LEFT: 0.75in; WIDTH: 83.34%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="83%" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 30.66%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="30%" colspan="4"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Three&amp;#160;Months&amp;#160;Ended&lt;br /&gt;
March&amp;#160;31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;2013&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.62%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;2012&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.36%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.36%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Income from continuing operations&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$12,976&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$12,916&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Less net income allocated to non-controlling interests&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(11)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Less net income allocated to participating securities:&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;Nonforfeitable dividends on participating securities&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(98)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(94)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Total net income allocated to participating securities&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(98)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(94)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Less net income allocated to preferred stockholders:&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;Preferred stock dividends&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(818)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(818)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Total net income allocated to preferred stockholders&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(818)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;(818)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Income from continuing operations available to common stockholders&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;12,060&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;11,993&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Discontinued operations:&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;Gain on sale of assets, net&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;16&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Total net income from discontinued operations&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;16&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Net income available to common stockholders&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;12,060&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;12,009&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Effect of dilutive securities:&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Convertible preferred securities&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Net income for diluted net income per share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$12,060&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$12,009&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Shares for basic net income per share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;30,365&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;30,189&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Effect of dilutive securities:&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Stock options&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;34&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;45&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Convertible preferred securities&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Shares for diluted net income per share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;30,399&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;30,234&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Basic net income per share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$0.40&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$0.40&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Diluted net income per share&lt;/font&gt; &lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(1)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$0.40&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%"&gt;
&lt;p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$0.40&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;_______________&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;(1)&lt;/font&gt;&lt;font style="FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt; &lt;font style="FONT-SIZE: 9pt" size="1"&gt;For the three months ended March&amp;#160;31, 2013 and 2012, the Series&amp;#160;C Cumulative Convertible Preferred Stock, the participating securities and the non-controlling interest have been excluded from the computation of diluted net income per share as such inclusion would be anti-dilutive.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</us-gaap:EarningsPerShareTextBlock>
  <us-gaap:FairValueDisclosuresTextBlock id="Tag479" contextRef="D2013Q1">&lt;div style='font-size:10.0pt;FONT-FAMILY: Times New Roman;'&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"&gt;&lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;11.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt; &lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt" size="2"&gt;Fair Value Measurements&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;In accordance with the accounting guidance regarding the fair value option for financial assets and financial liabilities, entities are permitted to choose to measure certain financial assets and liabilities at fair value, with the change in unrealized gains and losses reported in earnings.&amp;#160; We did not adopt the elective fair market value option for our financial assets and financial liabilities.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;The carrying amount of cash and cash equivalents approximates fair value because of the short-term maturity of these instruments.&amp;#160; We do not invest our cash in auction rate securities.&amp;#160; The carrying value and fair value of our financial instruments as of March&amp;#160;31, 2013 and December&amp;#160;31, 2012 assuming election of fair value for our financial assets and financial liabilities were as follows (&lt;i&gt;in thousands&lt;/i&gt;):&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;table style="MARGIN-LEFT: 46.35pt; WIDTH: 84.76%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="84%" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 28.08%; PADDING-TOP: 0in" valign="bottom" width="28%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 31.28%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="31%" colspan="3"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;At March&amp;#160;31, 2013&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 34.74%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="34%" colspan="3"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;At December&amp;#160;31, 2012&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 28.08%; PADDING-TOP: 0in" valign="bottom" width="28%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.16%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Carrying&lt;br /&gt;
Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.96%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.16%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Fair&lt;br /&gt;
Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.16%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Carrying&lt;br /&gt;
Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.94%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 17.66%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="17%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Fair&lt;br /&gt;
Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 28.08%; PADDING-TOP: 0in" valign="bottom" width="28%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Mortgage loans receivable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.16%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$39,741&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.96%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.16%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$45,060&lt;/font&gt;&lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(1)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.16%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$39,299&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 17.66%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="17%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;$44,939&lt;/font&gt;&lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(1)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 28.08%; PADDING-TOP: 0in" valign="bottom" width="28%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Bonds payable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;2,035&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.96%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;2,035&lt;/font&gt;&lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(2)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;2,635&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 17.66%; PADDING-TOP: 0in" valign="bottom" width="17%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;2,635&lt;/font&gt;&lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(2)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 28.08%; PADDING-TOP: 0in" valign="bottom" width="28%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Bank borrowings&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;117,500&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.96%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;117,500&lt;/font&gt;&lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(2)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;115,500&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 17.66%; PADDING-TOP: 0in" valign="bottom" width="17%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;115,500&lt;/font&gt;&lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(2)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 28.08%; PADDING-TOP: 0in" valign="bottom" width="28%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Senior unsecured notes&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;185,800&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.96%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;194,475&lt;/font&gt;&lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(3)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;185,800&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 17.66%; PADDING-TOP: 0in" valign="bottom" width="17%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;194,838&lt;/font&gt;&lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(3)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px"&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 28.08%; PADDING-TOP: 0in" valign="bottom" width="28%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;Contingent liabilities&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;6,854&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.96%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;6,854&lt;/font&gt;&lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(4)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%"&gt;
&lt;p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;6,744&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 17.66%; PADDING-TOP: 0in" valign="bottom" width="17%"&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"&gt;&lt;font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"&gt;6,744&lt;/font&gt;&lt;font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1"&gt;(4)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;_____________&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;(1)&lt;/font&gt;&lt;font style="FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt; &lt;font style="FONT-SIZE: 9pt" size="1"&gt;Our investment in mortgage loans receivable is classified as Level 3.&amp;#160; The fair value is determined using a widely accepted valuation technique, discounted cash flow analysis on the expected cash flows.&amp;#160; The discount rate is determined using our assumption on market conditions adjusted for market and credit risk and current returns on our investments.&amp;#160; The discount rate used to value our future cash inflows of the mortgage loans receivable at March&amp;#160;31, 2013 and December&amp;#160;31, 2012 was 6.0%.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 5pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;(2)&lt;/font&gt;&lt;font style="FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt; &lt;font style="FONT-SIZE: 9pt" size="1"&gt;Our bonds payable and bank borrowings are at a variable interest rate.&amp;#160; The estimated fair value of our bonds payable and bank borrowings approximated their carrying values at March&amp;#160;31, 2013 and December&amp;#160;31, 2012 based upon prevailing market interest rates for similar debt arrangements.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 5pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;(3)&lt;/font&gt;&lt;font style="FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt; &lt;font style="FONT-SIZE: 9pt" size="1"&gt;Our obligation under our senior unsecured notes is classified as Level 3 and thus the fair value is determined using a widely accepted valuation technique, discounted cash flow analysis on the expected cash flows.&amp;#160; The discount rate is measured based upon management&amp;#8217;s estimates of rates currently prevailing for comparable loans available to us, and instruments of comparable maturities.&amp;#160; At March&amp;#160;31, 2013 and December&amp;#160;31, 2012,&amp;#160; the discount rate used to value our future cash outflow of our senior unsecured notes was 3.8% for those maturing before year 2019 and 4.3% for those maturing through year 2021.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 5pt; FONT-FAMILY: Times New Roman" size="1"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in"&gt;&lt;font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1"&gt;(4)&lt;/font&gt;&lt;font style="FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt; &lt;font style="FONT-SIZE: 9pt" size="1"&gt;Our contingent obligation under the earn-out liabilities is classified as Level 3. We estimated the fair value of the contingent earn-out payments using a discounted cash flow analysis. The discount rate that we use consists of a risk-free U.S. Treasury rate plus a company specific credit spread which we believe is acceptable by willing market participants.&amp;#160; At March&amp;#160;31, 2013 and December&amp;#160;31, 2012, the discount rate used to value our future cash outflow of the earn-out liability was 6.5% and 6.6%, respectively.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
</us-gaap:FairValueDisclosuresTextBlock>
  <us-gaap:SubsequentEventsTextBlock id="Tag480" contextRef="D2013Q1">&lt;div style='font-size:10.0pt;FONT-FAMILY: Times New Roman;'&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"&gt;&lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;12.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 3pt" size="1"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt; &lt;b&gt;&lt;font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt" size="2"&gt;Subsequent Events&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;Subsequent to March&amp;#160;31, 2013 the following events occurred.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;We declared a monthly cash dividend of $0.155 per share on our common stock for the months of April, May&amp;#160;and June&amp;#160;2013, payable on April&amp;#160;30, May&amp;#160;31 and June&amp;#160;28, 2013, respectively, to stockholders of record on April&amp;#160;22, May&amp;#160;23 and June&amp;#160;20, 2013, respectively.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;We funded $1,398,000 under real estate investment commitments. Accordingly, we have a remaining commitment of $52,633,000. See &lt;i&gt;Note 2. Real Estate Investments&lt;/i&gt; for further discussion. We also funded $60,000 under loans and line of credit agreements to certain operators and have a remaining commitment of $1,256,000. See &lt;i&gt;Note 3. Notes Receivable&lt;/i&gt; for further discussion.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0in 0in 0pt"&gt;&lt;font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;
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    <link:footnote xlink:type="resource" xlink:label="footnote1" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en-US">On March 31, 2013 and December 31, 2012, we had $3,203 and $3,191 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.</link:footnote>
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    <link:footnote xlink:type="resource" xlink:label="footnote5" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en-US">During the three months ended March 31, 2013 and 2012, we received $1,113 and $1,086, respectively, in rental income and recorded $12 and $39, respectively, in straight-line rental income from a lessee that qualifies as a related party.  The lessee's Chief Executive Officer is on our Board of Directors.  See Note 9. Transactions with Related Party for further discussion.</link:footnote>
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  <xsd:element name="SkilledNursingPropertiesMember" id="ltc_SkilledNursingPropertiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SkilledNursingPropertiesWith619UnitsMember" id="ltc_SkilledNursingPropertiesWith619UnitsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SkilledNursingPropertiesWith785UnitsMember" id="ltc_SkilledNursingPropertiesWith785UnitsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SkilledNursingPropertiesTwoMember" id="ltc_SkilledNursingPropertiesTwoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="AssistedLivingPropertiesWith422UnitsMember" id="ltc_AssistedLivingPropertiesWith422UnitsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="AssistedLivingPropertiesMember" id="ltc_AssistedLivingPropertiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SkilledNursingPropertiesWith458UnitsMember" id="ltc_SkilledNursingPropertiesWith458UnitsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SkilledNursingPropertiesWith120UnitsMember" id="ltc_SkilledNursingPropertiesWith120UnitsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SkilledNursingPropertyAssociatedWithRangeOfCarePropertyMember" id="ltc_SkilledNursingPropertyAssociatedWithRangeOfCarePropertyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="OtherSeniorHousingPropertiesMember" id="ltc_OtherSeniorHousingPropertiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SkilledNursingPropertiesAndAssistedLivingPropertiesMember" id="ltc_SkilledNursingPropertiesAndAssistedLivingPropertiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="AssistedLivingAndMemoryCarePropertiesMember" id="ltc_AssistedLivingAndMemoryCarePropertiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SchoolMember" id="ltc_SchoolMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfRealEstatePropertiesBackingSingleNote" id="ltc_NumberOfRealEstatePropertiesBackingSingleNote" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfAssetsImpaired" id="ltc_NumberOfAssetsImpaired" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="RealEstateAccumulatedDepreciationImpairmentCharges" id="ltc_RealEstateAccumulatedDepreciationImpairmentCharges" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="OtherSeniorHousingProperties1Member" id="ltc_OtherSeniorHousingProperties1Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateByLocationOfPropertyAxis" id="ltc_MortgageLoansOnRealEstateByLocationOfPropertyAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="VariousStatesMember" id="ltc_VariousStatesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateByMaturityOfLoansAxis" id="ltc_MortgageLoansOnRealEstateByMaturityOfLoansAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateMaturitiesOfLoansDomain" id="ltc_MortgageLoansOnRealEstateMaturitiesOfLoansDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateMaturingIn2018Member" id="ltc_MortgageLoansOnRealEstateMaturingIn2018Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateMaturingIn2014Member" id="ltc_MortgageLoansOnRealEstateMaturingIn2014Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateMaturingIn2017Member" id="ltc_MortgageLoansOnRealEstateMaturingIn2017Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateMaturingIn2015Member" id="ltc_MortgageLoansOnRealEstateMaturingIn2015Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateMaturingIn2013FirstMember" id="ltc_MortgageLoansOnRealEstateMaturingIn2013FirstMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateMaturingIn2013SecondMember" id="ltc_MortgageLoansOnRealEstateMaturingIn2013SecondMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateMaturingIn2022Member" id="ltc_MortgageLoansOnRealEstateMaturingIn2022Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateMaturingIn2019Member" id="ltc_MortgageLoansOnRealEstateMaturingIn2019Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateMaturingBetween2014To2018Member" id="ltc_MortgageLoansOnRealEstateMaturingBetween2014To2018Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateMaturingIn2013Member" id="ltc_MortgageLoansOnRealEstateMaturingIn2013Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateMaturingIn2012Member" id="ltc_MortgageLoansOnRealEstateMaturingIn2012Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateMaturingIn2017FirstMember" id="ltc_MortgageLoansOnRealEstateMaturingIn2017FirstMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateMaturingBetween2011To2019Member" id="ltc_MortgageLoansOnRealEstateMaturingBetween2011To2019Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateMaturingIn2013ThirdMember" id="ltc_MortgageLoansOnRealEstateMaturingIn2013ThirdMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateMaturingIn2017SecondMember" id="ltc_MortgageLoansOnRealEstateMaturingIn2017SecondMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateCurrentMonthlyDebtService" id="ltc_MortgageLoansOnRealEstateCurrentMonthlyDebtService" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="MortgageLoansOnRealEstateAmortizationTerm" id="ltc_MortgageLoansOnRealEstateAmortizationTerm" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansBetween500000And2000000Member" id="ltc_MortgageLoansBetween500000And2000000Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansBetween2001000And3000000Member" id="ltc_MortgageLoansBetween2001000And3000000Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansBetween3001000And4000000Member" id="ltc_MortgageLoansBetween3001000And4000000Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansBetween4001000And5000000Member" id="ltc_MortgageLoansBetween4001000And5000000Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansBetween5001000And6000000Member" id="ltc_MortgageLoansBetween5001000And6000000Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansBetween6001000And7000000Member" id="ltc_MortgageLoansBetween6001000And7000000Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansBetween7001000And10000000Member" id="ltc_MortgageLoansBetween7001000And10000000Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateLoanLossReserve" id="ltc_MortgageLoansOnRealEstateLoanLossReserve" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="Colton253CAMember" id="ltc_Colton253CAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="Pasadena251TXMember" id="ltc_Pasadena251TXMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="PropertiesUnderDevelopmentMember" id="ltc_PropertiesUnderDevelopmentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="Amarillo252TXMember" id="ltc_Amarillo252TXMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateMaturingBetween2012To2019Member" id="ltc_MortgageLoansOnRealEstateMaturingBetween2012To2019Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="AccruedExpensesAndOtherLiabilities" id="ltc_AccruedExpensesAndOtherLiabilities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="AccumulatedDepreciationAndAmortizationPropertiesHeldForSale" id="ltc_AccumulatedDepreciationAndAmortizationPropertiesHeldForSale" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest" id="ltc_AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="AllocationOfIncomeFromPreferredStockBuyBack" id="ltc_AllocationOfIncomeFromPreferredStockBuyBack" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="AllowanceForDoubtfulAccountsAndOtherReceivablesMember" id="ltc_AllowanceForDoubtfulAccountsAndOtherReceivablesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="AllowanceForDoubtfulAccountsRelatedToPropertiesHeldForSale" id="ltc_AllowanceForDoubtfulAccountsRelatedToPropertiesHeldForSale" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="AllowanceForStraightLineRentReceivableMember" id="ltc_AllowanceForStraightLineRentReceivableMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="AmountInvestedForCapitalImprovementsToExistingProperties" id="ltc_AmountInvestedForCapitalImprovementsToExistingProperties" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="AnnualIncreaseInRent" id="ltc_AnnualIncreaseInRent" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="AssetsDifferencesBetweenBookAndTaxBasis" id="ltc_AssetsDifferencesBetweenBookAndTaxBasis" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="AssistedLivingConceptsIncMember" id="ltc_AssistedLivingConceptsIncMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="AssistedLivingFacilityUnitsMember" id="ltc_AssistedLivingFacilityUnitsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="BakersfieldMember" id="ltc_BakersfieldMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="BankruptcySettlementDistributionAmountReceived" id="ltc_BankruptcySettlementDistributionAmountReceived" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="BondsPayableMember" id="ltc_BondsPayableMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="BrookdaleMember" id="ltc_BrookdaleMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties" id="ltc_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesAverageYield" id="ltc_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesAverageYield" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LeaseAgreementGAAPYieldPercentage" id="ltc_LeaseAgreementGAAPYieldPercentage" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumber" id="ltc_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumber" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumberOfOperators" id="ltc_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumberOfOperators" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="BusinessAcquisitionAnnualizedRentalIncome" id="ltc_BusinessAcquisitionAnnualizedRentalIncome" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="BusinessAcquisitionAnnualizedRentalIncomeCashAndStraightLineRentalIncome" id="ltc_BusinessAcquisitionAnnualizedRentalIncomeCashAndStraightLineRentalIncome" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="BusinessAcquisitionCostOfAcquiredEntityTransactionCostsPrepaymentPenalty" id="ltc_BusinessAcquisitionCostOfAcquiredEntityTransactionCostsPrepaymentPenalty" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="BusinessAcquisitionDeterminationOfValueOfIdentifiableAssetsMaximumPeriod" id="ltc_BusinessAcquisitionDeterminationOfValueOfIdentifiableAssetsMaximumPeriod" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="BusinessAcquisitionLeaseInducementChargesPaid" id="ltc_BusinessAcquisitionLeaseInducementChargesPaid" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="BusinessAcquisitionNumberOfUnitsInBusinessAcquired" id="ltc_BusinessAcquisitionNumberOfUnitsInBusinessAcquired" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfBedsOrUnitsUnderDevelopment" id="ltc_NumberOfBedsOrUnitsUnderDevelopment" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfLeaseAgreementsOfExistingPropertiesForCapitalImprovements" id="ltc_NumberOfLeaseAgreementsOfExistingPropertiesForCapitalImprovements" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="PropertiesNumberOfUnitsOrBed" id="ltc_PropertiesNumberOfUnitsOrBed" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateLoansPaidOffNumberOfUnitsOrBeds" id="ltc_MortgageLoansOnRealEstateLoansPaidOffNumberOfUnitsOrBeds" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ContingentEarnOutPaymentMaximum" id="ltc_ContingentEarnOutPaymentMaximum" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="NumberOfEarnOutPaymentsRequired" id="ltc_NumberOfEarnOutPaymentsRequired" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="EarnOutLiabilitiesRecordedAtAcquisition" id="ltc_EarnOutLiabilitiesRecordedAtAcquisition" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="EarnOutLiabilitiesNonCashInterestExpense" id="ltc_EarnOutLiabilitiesNonCashInterestExpense" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="NumberOfExistingPropertiesForCapitalImprovements" id="ltc_NumberOfExistingPropertiesForCapitalImprovements" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ContingentEarnOutPaymentFirstPaymentAmount" id="ltc_ContingentEarnOutPaymentFirstPaymentAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="BusinessAcquisitionsAmountInvestedForCapitalImprovements" id="ltc_BusinessAcquisitionsAmountInvestedForCapitalImprovements" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="CapitalExpendituresMember" id="ltc_CapitalExpendituresMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LoanCommitmentMember" id="ltc_LoanCommitmentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CapitalImprovementAndLoanCommitmentsByExpirationDateAxis" id="ltc_CapitalImprovementAndLoanCommitmentsByExpirationDateAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CapitalImprovementAndLoanCommitmentsByExpirationDateDomain" id="ltc_CapitalImprovementAndLoanCommitmentsByExpirationDateDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CapitalImprovementAndLoanCommitmentsLineItems" id="ltc_CapitalImprovementAndLoanCommitmentsLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SummaryOfSignificantAccountingPoliciesLineItems" id="ltc_SummaryOfSignificantAccountingPoliciesLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CapitalImprovementCommitmentExpiringAugust012012Member" id="ltc_CapitalImprovementCommitmentExpiringAugust012012Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CapitalImprovementCommitmentExpiringAugust312013Member" id="ltc_CapitalImprovementCommitmentExpiringAugust312013Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CapitalImprovementCommitmentExpiringOctober112013Member" id="ltc_CapitalImprovementCommitmentExpiringOctober112013Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CapitalImprovementCommitmentExpiringDecember312014Member" id="ltc_CapitalImprovementCommitmentExpiringDecember312014Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LoanCommitmentExpiringMarch312013Member" id="ltc_LoanCommitmentExpiringMarch312013Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LoanCommitmentExpiringDecember312012Member" id="ltc_LoanCommitmentExpiringDecember312012Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LoanCommitmentExpiringInMay2018Member" id="ltc_LoanCommitmentExpiringInMay2018Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LoanCommitmentExpiringInNovember2017Member" id="ltc_LoanCommitmentExpiringInNovember2017Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LoanCommitmentsMaturitiesRangingFrom2013To2014Member" id="ltc_LoanCommitmentsMaturitiesRangingFrom2013To2014Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LoanCommitmentsMaturitiesRangingFrom2013To2017Member" id="ltc_LoanCommitmentsMaturitiesRangingFrom2013To2017Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis" id="ltc_CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="TreasuryNotesMaturityPeriod" id="ltc_TreasuryNotesMaturityPeriod" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
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  <xsd:element name="CapitalImprovementCommitmentsEstimatedYieldBasisSpreadOnVariableRate" id="ltc_CapitalImprovementCommitmentsEstimatedYieldBasisSpreadOnVariableRate" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CapitalImprovementCommitmentsAllocationNumberOfTranches" id="ltc_CapitalImprovementCommitmentsAllocationNumberOfTranches" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CapitalImprovementCommitmentsAmountInvested" id="ltc_CapitalImprovementCommitmentsAmountInvested" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
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  <xsd:element name="CapitalImprovementCommitmentsEffectiveLeaseRate" id="ltc_CapitalImprovementCommitmentsEffectiveLeaseRate" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="CapitalImprovementCommitmentsEstimatedYield" id="ltc_CapitalImprovementCommitmentsEstimatedYield" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="CapitalImprovementCommitmentsInterestCompoundPercentage" id="ltc_CapitalImprovementCommitmentsInterestCompoundPercentage" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity" id="ltc_CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding" id="ltc_CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CapitalImprovementCommitmentsOpen" id="ltc_CapitalImprovementCommitmentsOpen" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
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  <xsd:element name="CashAndCashEquivalentsMaturityPeriodMaximum" id="ltc_CashAndCashEquivalentsMaturityPeriodMaximum" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
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  <xsd:element name="CommonStockDividendsPerShareCashPaidLongTermCapitalGain" id="ltc_CommonStockDividendsPerShareCashPaidLongTermCapitalGain" type="num:perShareItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CommonStockDividendsPerShareCashPaidOrdinaryTaxableDistribution" id="ltc_CommonStockDividendsPerShareCashPaidOrdinaryTaxableDistribution" type="num:perShareItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CommonStockDividendsPerShareCashPaidPercentageIncreaseDecrease" id="ltc_CommonStockDividendsPerShareCashPaidPercentageIncreaseDecrease" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CommonStockDividendsPerShareCashPaidReturnOfCapital" id="ltc_CommonStockDividendsPerShareCashPaidReturnOfCapital" type="num:perShareItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CommonStockDividendsPerShareCashPaidUnrecapturedSection1250Gain" id="ltc_CommonStockDividendsPerShareCashPaidUnrecapturedSection1250Gain" type="num:perShareItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CommonStockDividendsPerShareDeclaredPercentageIncreaseDecrease" id="ltc_CommonStockDividendsPerShareDeclaredPercentageIncreaseDecrease" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CommonStockIssuanceCosts" id="ltc_CommonStockIssuanceCosts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="CommonStockSharesAuthorizedValue" id="ltc_CommonStockSharesAuthorizedValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="ShelfRegistrationStatementAmountAvailable" id="ltc_ShelfRegistrationStatementAmountAvailable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue" id="ltc_CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="CommonStockSharesIssuedWeightedAveragePricePerShare" id="ltc_CommonStockSharesIssuedWeightedAveragePricePerShare" type="num:perShareItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ConversionOfMortgageLoansToOwnedProperties" id="ltc_ConversionOfMortgageLoansToOwnedProperties" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="ConvertiblePreferredStockSharesConversionPricePerShare" id="ltc_ConvertiblePreferredStockSharesConversionPricePerShare" type="num:perShareItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ConvertiblePreferredStockSharesIssuableUponConversion" id="ltc_ConvertiblePreferredStockSharesIssuableUponConversion" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
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  <xsd:element name="DebtInstrumentCovenantRatioAggregateIndebtednessToAggregateAssetMaximum" id="ltc_DebtInstrumentCovenantRatioAggregateIndebtednessToAggregateAssetMaximum" type="xbrli:pureItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="DebtInstrumentCovenantRatioSecuredDebtToAggregateAssetMaximum" id="ltc_DebtInstrumentCovenantRatioSecuredDebtToAggregateAssetMaximum" type="xbrli:pureItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="DebtInstrumentCovenantRatioUnsecuredDebtToUnencumberedAssetPoolMaximum" id="ltc_DebtInstrumentCovenantRatioUnsecuredDebtToUnencumberedAssetPoolMaximum" type="xbrli:pureItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="DebtInstrumentCovenantRatioEBITDAToFixedChargesMinimum" id="ltc_DebtInstrumentCovenantRatioEBITDAToFixedChargesMinimum" type="xbrli:pureItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" id="ltc_DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement" id="ltc_DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="DebtInstrumentNumberOfCollateralProperties" id="ltc_DebtInstrumentNumberOfCollateralProperties" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DebtInstrumentNumberOfLoansOutstanding" id="ltc_DebtInstrumentNumberOfLoansOutstanding" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="DebtInstrumentNumberOfLoansPaidOff" id="ltc_DebtInstrumentNumberOfLoansPaidOff" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DebtInstrumentPrivateShelfAgreementIssuancePeriod" id="ltc_DebtInstrumentPrivateShelfAgreementIssuancePeriod" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DebtInstrumentShelfAgreementMaximumAverageLife" id="ltc_DebtInstrumentShelfAgreementMaximumAverageLife" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DebtInstrumentShelfAgreementMaximumMaturityPeriod" id="ltc_DebtInstrumentShelfAgreementMaximumMaturityPeriod" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DebtInstrumentVariableRateBaseAxis" id="ltc_DebtInstrumentVariableRateBaseAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DebtInstrumentVariableRateBaseDomain" id="ltc_DebtInstrumentVariableRateBaseDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DebtInstrumentVariableRateBaseLIBORMember" id="ltc_DebtInstrumentVariableRateBaseLIBORMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DebtInstrumentVariableRatePrimeRateMember" id="ltc_DebtInstrumentVariableRatePrimeRateMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DeferredRentReceivablesWrittenOff" id="ltc_DeferredRentReceivablesWrittenOff" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="DiscontinuedOperationsSaleOfPropertyHeldForSaleMaximumPeriod" id="ltc_DiscontinuedOperationsSaleOfPropertyHeldForSaleMaximumPeriod" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
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  <xsd:element name="DistributionsDisclosureTextBlock" id="ltc_DistributionsDisclosureTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="DocumentAndEntityInformationAbstract" id="ltc_DocumentAndEntityInformationAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="EarnOutLiabilities" id="ltc_EarnOutLiabilities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="EffectOfOnePercentagePointDecreaseInInterestRateMember" id="ltc_EffectOfOnePercentagePointDecreaseInInterestRateMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="EffectOfOnePercentagePointIncreaseInInterestRateMember" id="ltc_EffectOfOnePercentagePointIncreaseInInterestRateMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="EquityDistributionAgreementMember" id="ltc_EquityDistributionAgreementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="UnderwrittenPublicOfferingMember" id="ltc_UnderwrittenPublicOfferingMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ExercisePriceDollar17.06Member" id="ltc_ExercisePriceDollar17.06Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
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  <xsd:element name="InvestmentsWithRelatedPartiesInterestEffectiveRate" id="ltc_InvestmentsWithRelatedPartiesInterestEffectiveRate" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate" id="ltc_MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
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  <xsd:element name="InvestmentsWithRelatedPartiesInterestFaceRate" id="ltc_InvestmentsWithRelatedPartiesInterestFaceRate" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MarketableSecuritiesWithRelatedPartiesInterestFaceRate" id="ltc_MarketableSecuritiesWithRelatedPartiesInterestFaceRate" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="InvestmentsWithRelatedPartiesInvestmentPurchased" id="ltc_InvestmentsWithRelatedPartiesInvestmentPurchased" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="LaurelHealthcareMember" id="ltc_LaurelHealthcareMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LeaseAgreementAnnualEscalation" id="ltc_LeaseAgreementAnnualEscalation" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LeaseAgreementAnnualEscalationForFirstSevenYears" id="ltc_LeaseAgreementAnnualEscalationForFirstSevenYears" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LeaseAgreementAnnualEscalationForRemainderOfLeaseTerm" id="ltc_LeaseAgreementAnnualEscalationForRemainderOfLeaseTerm" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LeaseAgreementNumberOfRenewalOptions" id="ltc_LeaseAgreementNumberOfRenewalOptions" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LeaseAgreementRenewalOptionsPeriod" id="ltc_LeaseAgreementRenewalOptionsPeriod" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LeaseAgreementPeriod" id="ltc_LeaseAgreementPeriod" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LimitedPartnersCapitalUnitsRedeemed" id="ltc_LimitedPartnersCapitalUnitsRedeemed" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LimitedPartnershipUnitsConversionBasis" id="ltc_LimitedPartnershipUnitsConversionBasis" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity" id="ltc_LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="LoanCommitments" id="ltc_LoanCommitments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="LoanCommitmentsAmountInvested" id="ltc_LoanCommitmentsAmountInvested" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital" id="ltc_ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="LoanCommitmentsTotalAmountInvested" id="ltc_LoanCommitmentsTotalAmountInvested" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit" id="ltc_LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="LoanCommitmentsEstimatedYield" id="ltc_LoanCommitmentsEstimatedYield" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="LeaseAgreementTerm" id="ltc_LeaseAgreementTerm" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LoanAgreementTerm" id="ltc_LoanAgreementTerm" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LoanCommitmentsEstimatedYieldAnnualIncrease" id="ltc_LoanCommitmentsEstimatedYieldAnnualIncrease" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice" id="ltc_LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="TermOfRightToPurchaseReplacementFacility" id="ltc_TermOfRightToPurchaseReplacementFacility" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LoanCommitmentsOpen" id="ltc_LoanCommitmentsOpen" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="MajorOperatorTextBlock" id="ltc_MajorOperatorTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MajorOperatorsAxis" id="ltc_MajorOperatorsAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MajorOperatorsDisclosureAbstract" id="ltc_MajorOperatorsDisclosureAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MajorOperatorsDomain" id="ltc_MajorOperatorsDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MarketableSecuritiesFairValueDisclosureFairValueMarketQuotePercentageOfParValue" id="ltc_MarketableSecuritiesFairValueDisclosureFairValueMarketQuotePercentageOfParValue" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="MesquiteMember" id="ltc_MesquiteMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SeniorUnsecuredTermNotes5.25PercentDue14July2015Member" id="ltc_SeniorUnsecuredTermNotes5.25PercentDue14July2015Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SeniorUnsecuredTermNotes5.74PercentDue14July2019Member" id="ltc_SeniorUnsecuredTermNotes5.74PercentDue14July2019Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoanOnRealEstateMaximumPeriodForDeterminingDelinquencies" id="ltc_MortgageLoanOnRealEstateMaximumPeriodForDeterminingDelinquencies" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LeaseAgreementsMaximumPeriodForDeterminingDelinquencies" id="ltc_LeaseAgreementsMaximumPeriodForDeterminingDelinquencies" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateAmortizationPeriod" id="ltc_MortgageLoansOnRealEstateAmortizationPeriod" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateAmountInvestedForCapitalImprovements" id="ltc_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovements" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateAmountInvestedForCapitalImprovementsNumberOfLoans" id="ltc_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovementsNumberOfLoans" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateAmountInvestedForExpansionOfPropertyAndExtensionOfLoanMaturity" id="ltc_MortgageLoansOnRealEstateAmountInvestedForExpansionOfPropertyAndExtensionOfLoanMaturity" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateClosingFees" id="ltc_MortgageLoansOnRealEstateClosingFees" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateExtensionOfLoanMaturityPeriod" id="ltc_MortgageLoansOnRealEstateExtensionOfLoanMaturityPeriod" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints" id="ltc_MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffs" id="ltc_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffs" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateLoansPaidOffNumberOfCollateralProperties" id="ltc_MortgageLoansOnRealEstateLoansPaidOffNumberOfCollateralProperties" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfLimitedPartners" id="ltc_NumberOfLimitedPartners" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateNumberOfLoansPaidOff" id="ltc_MortgageLoansOnRealEstateNumberOfLoansPaidOff" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateScheduledPrincipalPaymentsAbstract" id="ltc_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateLoansAbstract" id="ltc_MortgageLoansOnRealEstateLoansAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateScheduledPrincipalPaymentsAfterYearFive" id="ltc_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAfterYearFive" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="MortgageLoansOnRealEstateScheduledPrincipalPaymentsCurrentFiscalYear" id="ltc_MortgageLoansOnRealEstateScheduledPrincipalPaymentsCurrentFiscalYear" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFive" id="ltc_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFive" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFour" id="ltc_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFour" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearThree" id="ltc_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearThree" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearTwo" id="ltc_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearTwo" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="MortgageLoansOnRealEstateWriteDownOrReserveNumberOfLoans" id="ltc_MortgageLoansOnRealEstateWriteDownOrReserveNumberOfLoans" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" id="ltc_MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="NoncontrollingInterestPartnershipConversionRightsMarketValue" id="ltc_NoncontrollingInterestPartnershipConversionRightsMarketValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="NotesReceivableNumberOfLoans" id="ltc_NotesReceivableNumberOfLoans" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="NotesReceivableWeightedAverageInterestRate" id="ltc_NotesReceivableWeightedAverageInterestRate" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="NumberOfLimitedPartnersExercisingConversionRights" id="ltc_NumberOfLimitedPartnersExercisingConversionRights" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfLimitedPartnerships" id="ltc_NumberOfLimitedPartnerships" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfMethodsConsideredForCalculationOfIncreaseInRents" id="ltc_NumberOfMethodsConsideredForCalculationOfIncreaseInRents" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfOperators" id="ltc_NumberOfOperators" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage" id="ltc_RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfBedsOrUnitsInRealEstatePropertySold" id="ltc_NumberOfBedsOrUnitsInRealEstatePropertySold" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfBedsOrUnitsInRealEstatePropertyReclassifiedFromHeldForSaleToHeldForUse" id="ltc_NumberOfBedsOrUnitsInRealEstatePropertyReclassifiedFromHeldForSaleToHeldForUse" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfSkilledNursingPropertiesSold" id="ltc_NumberOfSkilledNursingPropertiesSold" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="OperatingLeaseInitialTermMaximum" id="ltc_OperatingLeaseInitialTermMaximum" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="OperatingLeaseInitialTermMinimum" id="ltc_OperatingLeaseInitialTermMinimum" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="OperatingLeaseInitialTerm" id="ltc_OperatingLeaseInitialTerm" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="OperatingRealEstatePropertyNet" id="ltc_OperatingRealEstatePropertyNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="OperatorConcentrationRiskMember" id="ltc_OperatorConcentrationRiskMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfConvertiblePreferredStockRedeemed" id="ltc_PercentageOfConvertiblePreferredStockRedeemed" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfTaxableIncomeRequiredToBeDistributedByREIT" id="ltc_PercentageOfTaxableIncomeRequiredToBeDistributedByREIT" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="PeriodConsideredForDeterminingTaxabilityOfDistributions" id="ltc_PeriodConsideredForDeterminingTaxabilityOfDistributions" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="PreferredCareMember" id="ltc_PreferredCareMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="PreferredStockRedemptionCharge" id="ltc_PreferredStockRedemptionCharge" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="PropertyPlantAndEquipmentUsefulLifeForIncomeTax" id="ltc_PropertyPlantAndEquipmentUsefulLifeForIncomeTax" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="RealEstateInvestmentPropertyPercentage" id="ltc_RealEstateInvestmentPropertyPercentage" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="RealEstateInvestmentsNumberOfOperatorsInStates" id="ltc_RealEstateInvestmentsNumberOfOperatorsInStates" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="RealEstateInvestmentsNumberOfStates" id="ltc_RealEstateInvestmentsNumberOfStates" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="RealEstateInvestmentsPerUnit" id="ltc_RealEstateInvestmentsPerUnit" type="us-types:perUnitItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="RealEstateInvestmentsPercentage" id="ltc_RealEstateInvestmentsPercentage" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="RealEstateUnitsByTypeAxis" id="ltc_RealEstateUnitsByTypeAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="RealEstateUnitsTypeDomain" id="ltc_RealEstateUnitsTypeDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue" id="ltc_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValueReclassifiedToStockholdersEquity" id="ltc_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValueReclassifiedToStockholdersEquity" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest" id="ltc_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="IncreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" id="ltc_IncreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" id="ltc_DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="RegisteredDirectPlacementMember" id="ltc_RegisteredDirectPlacementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty" id="ltc_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity" id="ltc_RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty" id="ltc_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty" id="ltc_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="RentalRevenueAndInterestIncomeFromMortgageLoansMember" id="ltc_RentalRevenueAndInterestIncomeFromMortgageLoansMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="RepaymentOfMortgageLoanReceivableMember" id="ltc_RepaymentOfMortgageLoanReceivableMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="RangeOfCarePropertiesMember" id="ltc_RangeOfCarePropertiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SaleOfCommonStockPricePerShare" id="ltc_SaleOfCommonStockPricePerShare" type="num:perShareItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SaleOfStockAxis" id="ltc_SaleOfStockAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SaleOfStockByTypeOfTransactionDomain" id="ltc_SaleOfStockByTypeOfTransactionDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ScheduleOfCapitalImprovementAndLoanCommitmentsTable" id="ltc_ScheduleOfCapitalImprovementAndLoanCommitmentsTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SummaryOfSignificantAccountingPoliciesTable" id="ltc_SummaryOfSignificantAccountingPoliciesTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ScheduleOfCapitalImprovementCommitmentsTableTextBlock" id="ltc_ScheduleOfCapitalImprovementCommitmentsTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ScheduleOfDividendDistributionsTableTextBlock" id="ltc_ScheduleOfDividendDistributionsTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ScheduleOfFinancialInformationByMajorOperatorsTableTextBlock" id="ltc_ScheduleOfFinancialInformationByMajorOperatorsTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock" id="ltc_ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock" id="ltc_ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock" id="ltc_ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfRangeOfCareProperties" id="ltc_NumberOfRangeOfCareProperties" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfVacantParcelsOfLand" id="ltc_NumberOfVacantParcelsOfLand" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ScheduleOfLoanCommitmentsTableTextBlock" id="ltc_ScheduleOfLoanCommitmentsTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ScheduleOfRealEstatePropertiesAcquiredTableTextBlock" id="ltc_ScheduleOfRealEstatePropertiesAcquiredTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedExercisePriceAxis" id="ltc_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedExercisePriceAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ScheduleOfShareBasedCompensationStockOptionsExercisedTableTextBlock" id="ltc_ScheduleOfShareBasedCompensationStockOptionsExercisedTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="RestrictedStockGrantedTableTextBlock" id="ltc_RestrictedStockGrantedTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SchoolsMember" id="ltc_SchoolsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SecuredDebtBondsPayable" id="ltc_SecuredDebtBondsPayable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="SeniorHousingPropertiesMember" id="ltc_SeniorHousingPropertiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SeniorUnsecuredTermNotes5.26PercentDue14July2015Member" id="ltc_SeniorUnsecuredTermNotes5.26PercentDue14July2015Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SeniorUnsecuredTermNotes5.74PercentDue14January2019Member" id="ltc_SeniorUnsecuredTermNotes5.74PercentDue14January2019Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SeniorUnsecuredNotesMaturingPriorTo2020Member" id="ltc_SeniorUnsecuredNotesMaturingPriorTo2020Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SeniorUnsecuredNotesMaturingPriorTo2019Member" id="ltc_SeniorUnsecuredNotesMaturingPriorTo2019Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SeniorUnsecuredNotesMaturingIn2021Member" id="ltc_SeniorUnsecuredNotesMaturingIn2021Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesVestingPeriodMaximum" id="ltc_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesVestingPeriodMaximum" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="StockIssuedDuringPeriodToFirstLimitedPartnerSharesConversionOfNoncontrollingInterest" id="ltc_StockIssuedDuringPeriodToFirstLimitedPartnerSharesConversionOfNoncontrollingInterest" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfLimitedPartnersExchangingAllPartnershipUnits" id="ltc_NumberOfLimitedPartnersExchangingAllPartnershipUnits" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="StockIssuedDuringPeriodToSecondLimitedPartnerSharesConversionOfNoncontrollingInterest" id="ltc_StockIssuedDuringPeriodToSecondLimitedPartnerSharesConversionOfNoncontrollingInterest" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock" id="ltc_ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue" id="ltc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue" id="ltc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
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  <xsd:element name="ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedExercisePriceDomain" id="ltc_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedExercisePriceDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
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  <xsd:element name="VestingOverFiveYearPeriodFromGrantDateMember" id="ltc_VestingOverFiveYearPeriodFromGrantDateMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ShelfRegistrationMember" id="ltc_ShelfRegistrationMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ShelfRegistrationStatementMaximumCapacity" id="ltc_ShelfRegistrationStatementMaximumCapacity" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="SkilledHealthcareGroupIncMember" id="ltc_SkilledHealthcareGroupIncMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="SkilledNursingFacilityBedsMember" id="ltc_SkilledNursingFacilityBedsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="PrivatePayFacilityUnitMember" id="ltc_PrivatePayFacilityUnitMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
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  <xsd:element name="AssistedLivingPropertyWith70UnitsMember" id="ltc_AssistedLivingPropertyWith70UnitsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
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  <xsd:element name="MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest" id="ltc_MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest" type="num:perShareItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
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  <xsd:element name="PropertiesHeldForSaleNumberOfUnits" id="ltc_PropertiesHeldForSaleNumberOfUnits" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" />
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  <xsd:element name="Canyon189TXSalina085KSTappahannock178VADesMoines168IAMember" id="ltc_Canyon189TXSalina085KSTappahannock178VADesMoines168IAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
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  <xsd:element name="BusinessAcquisitionNumberOfUnitsInExistingBusinessToBeReplaced" id="ltc_BusinessAcquisitionNumberOfUnitsInExistingBusinessToBeReplaced" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="OwnedPropertiesNumberOfUnitsOrBeds" id="ltc_OwnedPropertiesNumberOfUnitsOrBeds" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits" id="ltc_PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="ScheduleOfAllocationOfEquityTable" id="ltc_ScheduleOfAllocationOfEquityTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" abstract="true" nillable="true" xbrli:periodType="duration" />
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  <xsd:element name="RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet" id="ltc_RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
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  <xsd:element name="AssistedLivingAndMemoryCarePropertyWith75UnitsMember" id="ltc_AssistedLivingAndMemoryCarePropertyWith75UnitsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
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  <xsd:element name="LoanCommitmentExpiringNovember142014Member" id="ltc_LoanCommitmentExpiringNovember142014Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LoanCommitmentExpiringOctober222017Member" id="ltc_LoanCommitmentExpiringOctober222017Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="LoanCommitmentExpiringMay142014Member" id="ltc_LoanCommitmentExpiringMay142014Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
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  <xsd:element name="StockIssuedDuringPeriodMarketValueStockOptionsExercised" id="ltc_StockIssuedDuringPeriodMarketValueStockOptionsExercised" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="EffectOfOnePercentagePointChangeInInterestRateAxis" id="ltc_EffectOfOnePercentagePointChangeInInterestRateAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="EffectOfOnePercentagePointChangeInInterestRateDomain" id="ltc_EffectOfOnePercentagePointChangeInInterestRateDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ScheduleOfSubsequentCapitalImprovementCommitmentsTableTextBlock" id="ltc_ScheduleOfSubsequentCapitalImprovementCommitmentsTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
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  <xsd:element name="DebtInstrumentAnnualPrincipalPaymentBeginningInYearEightThroughMaturity" id="ltc_DebtInstrumentAnnualPrincipalPaymentBeginningInYearEightThroughMaturity" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="MortgageLoansOnRealEstateDescriptionTypeOfPaymentAxis" id="ltc_MortgageLoansOnRealEstateDescriptionTypeOfPaymentAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateDescriptionTypeOfPaymentDomain" id="ltc_MortgageLoansOnRealEstateDescriptionTypeOfPaymentDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="PrepaymentMember" id="ltc_PrepaymentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
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  <xsd:element name="CapitalImprovementCommitmentExpiringJune122014Member" id="ltc_CapitalImprovementCommitmentExpiringJune122014Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
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  <xsd:element name="CapitalImprovementCommitmentExpiringAugust012014Member" id="ltc_CapitalImprovementCommitmentExpiringAugust012014Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CapitalImprovementCommitmentExpiringAugust012014TwoMember" id="ltc_CapitalImprovementCommitmentExpiringAugust012014TwoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="MortgageLoansOnRealEstateExpectedLoansPaidOffNumberOfUnitsOrBeds" id="ltc_MortgageLoansOnRealEstateExpectedLoansPaidOffNumberOfUnitsOrBeds" type="xbrli:integerItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CommonStockSharesAuthorizedBeforeAmendment" id="ltc_CommonStockSharesAuthorizedBeforeAmendment" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="PropertiesHeldForUseNumberOfUnits" id="ltc_PropertiesHeldForUseNumberOfUnits" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" />
  <xsd:element name="IncreaseOfDepreciationExpense" id="ltc_IncreaseOfDepreciationExpense" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="NumberOfBedsOrUnitsInExistingRealEstatePropertyBeingReplaced" id="ltc_NumberOfBedsOrUnitsInExistingRealEstatePropertyBeingReplaced" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ContingentEarnOutPaymentsNumber" id="ltc_ContingentEarnOutPaymentsNumber" type="xbrli:integerItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
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  <xsd:element name="Brownwood256TXMember" id="ltc_Brownwood256TXMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
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  <xsd:element name="SkilledNursingPropertyAndMemoryCarePropertyMember" id="ltc_SkilledNursingPropertyAndMemoryCarePropertyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ProvisionForDoubtfulAccountsContinuingAndDiscontinuedOperations" id="ltc_ProvisionForDoubtfulAccountsContinuingAndDiscontinuedOperations" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="VestingOverThreeYearPeriodFromGrantDateMember" id="ltc_VestingOverThreeYearPeriodFromGrantDateMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
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  <xsd:element name="InvestmentCommitmentsAmountFundedDuringPeriod" id="ltc_InvestmentCommitmentsAmountFundedDuringPeriod" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="InvestmentCommitmentsTotalAmountFunded" id="ltc_InvestmentCommitmentsTotalAmountFunded" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
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  <xsd:element name="NumberOfPropertiesUnderInvestmentCommitments" id="ltc_NumberOfPropertiesUnderInvestmentCommitments" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="FurnitureAndEquipmentMember" id="ltc_FurnitureAndEquipmentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="IndependentLivingPropertyMember" id="ltc_IndependentLivingPropertyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ScheduleOfPrincipalPaymentsOnMortgageLoansTableTextBlock" id="ltc_ScheduleOfPrincipalPaymentsOnMortgageLoansTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest" id="ltc_StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicyTextBlock" id="ltc_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicyTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
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  <xsd:element name="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAcceleratedVestingInPeriod" id="ltc_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAcceleratedVestingInPeriod" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties" id="ltc_CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="ProvisionForFederalOrStateIncomeTaxes" id="ltc_ProvisionForFederalOrStateIncomeTaxes" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="NotesReceivableCarryingAmount" id="ltc_NotesReceivableCarryingAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="IncreaseDecreaseInDepreciation" id="ltc_IncreaseDecreaseInDepreciation" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
</xsd:schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>8
<FILENAME>ltc-20130331_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
<!-- Created by Merrill Corporation -->
<!-- Generated by Fujitsu Interstage XWand B0189 -->
<!--Generated by IRIS XBRL Generation Engine-->
<link:linkbase xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance">
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  <link:roleRef roleURI="http://www.ltcproperties.com/role/StatementOfIncome" xlink:type="simple" xlink:href="ltc-20130331.xsd#StatementOfIncome" />
  <link:roleRef roleURI="http://www.ltcproperties.com/role/CashFlows" xlink:type="simple" xlink:href="ltc-20130331.xsd#CashFlows" />
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  <link:roleRef roleURI="http://www.ltcproperties.com/role/DisclosureEquityDetails2" xlink:type="simple" xlink:href="ltc-20130331.xsd#DisclosureEquityDetails2" />
  <link:calculationLink xlink:type="extended" xlink:role="http://www.ltcproperties.com/role/BalanceSheet">
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    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet" xlink:label="RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet" xlink:title="RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateInvestmentPropertyNet" xlink:label="RealEstateInvestmentPropertyNet" xlink:title="RealEstateInvestmentPropertyNet" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_Land" xlink:label="Land" xlink:title="Land" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InvestmentBuildingAndBuildingImprovements" xlink:label="InvestmentBuildingAndBuildingImprovements" xlink:title="InvestmentBuildingAndBuildingImprovements" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="RealEstateInvestmentPropertyNet" xlink:to="InvestmentBuildingAndBuildingImprovements" xlink:title="calculation: RealEstateInvestmentPropertyNet to InvestmentBuildingAndBuildingImprovements" use="optional" order="2.0" weight="1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:label="RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:title="RealEstateInvestmentPropertyAccumulatedDepreciation" />
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<DOCUMENT>
<TYPE>EX-101.DEF
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<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" xlink:label="AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" xlink:title="AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="IncreaseDecreaseInStockholdersEquityRollForward" xlink:to="AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" xlink:title="definition: IncreaseDecreaseInStockholdersEquityRollForward to AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" use="optional" order="100.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition" xlink:label="AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition" xlink:title="AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition" />
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    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest" xlink:label="StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest" xlink:title="StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="IncreaseDecreaseInStockholdersEquityRollForward" xlink:to="StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest" xlink:title="definition: IncreaseDecreaseInStockholdersEquityRollForward to StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest" use="optional" order="120.0" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest" xlink:label="StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest" xlink:title="StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest" xlink:to="StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest" xlink:title="definition: StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest to StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest" use="optional" order="10.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:label="MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:title="MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="IncreaseDecreaseInStockholdersEquityRollForward" xlink:to="MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:title="definition: IncreaseDecreaseInStockholdersEquityRollForward to MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" use="optional" order="130.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsCommonStockCash" xlink:label="DividendsCommonStockCash" xlink:title="DividendsCommonStockCash" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="IncreaseDecreaseInStockholdersEquityRollForward" xlink:to="DividendsCommonStockCash" xlink:title="definition: IncreaseDecreaseInStockholdersEquityRollForward to DividendsCommonStockCash" use="optional" order="150.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockRepurchasedDuringPeriodValue" xlink:label="StockRepurchasedDuringPeriodValue" xlink:title="StockRepurchasedDuringPeriodValue" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="IncreaseDecreaseInStockholdersEquityRollForward" xlink:to="StockRepurchasedDuringPeriodValue" xlink:title="definition: IncreaseDecreaseInStockholdersEquityRollForward to StockRepurchasedDuringPeriodValue" use="optional" order="8000.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockRepurchasedDuringPeriodShares" xlink:label="StockRepurchasedDuringPeriodShares" xlink:title="StockRepurchasedDuringPeriodShares" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityPeriodIncreaseDecrease" xlink:label="StockholdersEquityPeriodIncreaseDecrease" xlink:title="StockholdersEquityPeriodIncreaseDecrease" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="IncreaseDecreaseInStockholdersEquityRollForward" xlink:to="StockholdersEquityPeriodIncreaseDecrease" xlink:title="definition: IncreaseDecreaseInStockholdersEquityRollForward to StockholdersEquityPeriodIncreaseDecrease" use="optional" order="8001.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesPeriodIncreaseDecrease" xlink:label="StockIssuedDuringPeriodSharesPeriodIncreaseDecrease" xlink:title="StockIssuedDuringPeriodSharesPeriodIncreaseDecrease" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StockholdersEquityPeriodIncreaseDecrease" xlink:to="StockIssuedDuringPeriodSharesPeriodIncreaseDecrease" xlink:title="definition: StockholdersEquityPeriodIncreaseDecrease to StockIssuedDuringPeriodSharesPeriodIncreaseDecrease" use="optional" order="8010.0" />
  </link:definitionLink>
  <link:definitionLink xlink:type="extended" xlink:role="http://www.ltcproperties.com/role/StatementOfStockholdersEquityParenthetical">
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockMember" xlink:label="PreferredStockMember" xlink:title="PreferredStockMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ParentMember" xlink:to="PreferredStockMember" xlink:title="definition: ParentMember to PreferredStockMember" use="optional" order="10.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockMember" xlink:label="CommonStockMember" xlink:title="CommonStockMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ParentMember" xlink:to="CommonStockMember" xlink:title="definition: ParentMember to CommonStockMember" use="optional" order="20.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="AdditionalPaidInCapitalMember" xlink:title="AdditionalPaidInCapitalMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ParentMember" xlink:to="AdditionalPaidInCapitalMember" xlink:title="definition: ParentMember to AdditionalPaidInCapitalMember" use="optional" order="30.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="RetainedEarningsMember" xlink:title="RetainedEarningsMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ParentMember" xlink:to="RetainedEarningsMember" xlink:title="definition: ParentMember to RetainedEarningsMember" use="optional" order="40.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:label="AccumulatedOtherComprehensiveIncomeMember" xlink:title="AccumulatedOtherComprehensiveIncomeMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ParentMember" xlink:to="AccumulatedOtherComprehensiveIncomeMember" xlink:title="definition: ParentMember to AccumulatedOtherComprehensiveIncomeMember" use="optional" order="50.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccumulatedDistributionsInExcessOfNetIncomeMember" xlink:label="AccumulatedDistributionsInExcessOfNetIncomeMember" xlink:title="AccumulatedDistributionsInExcessOfNetIncomeMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ParentMember" xlink:to="AccumulatedDistributionsInExcessOfNetIncomeMember" xlink:title="definition: ParentMember to AccumulatedDistributionsInExcessOfNetIncomeMember" use="optional" order="60.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="StatementClassOfStockAxis" xlink:title="StatementClassOfStockAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="ClassOfStockDomain" xlink:title="ClassOfStockDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="StatementClassOfStockAxis" xlink:to="ClassOfStockDomain" xlink:title="definition: StatementClassOfStockAxis to ClassOfStockDomain" use="optional" order="10.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SeriesEPreferredStockMember" xlink:label="SeriesEPreferredStockMember" xlink:title="SeriesEPreferredStockMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ClassOfStockDomain" xlink:to="SeriesEPreferredStockMember" xlink:title="definition: ClassOfStockDomain to SeriesEPreferredStockMember" use="optional" order="10.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SeriesFPreferredStockMember" xlink:label="SeriesFPreferredStockMember" xlink:title="SeriesFPreferredStockMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ClassOfStockDomain" xlink:to="SeriesFPreferredStockMember" xlink:title="definition: ClassOfStockDomain to SeriesFPreferredStockMember" use="optional" order="20.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementLineItems" xlink:label="StatementLineItems" xlink:title="StatementLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementTable" xlink:label="StatementTable" xlink:title="StatementTable" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="StatementLineItems" xlink:to="StatementTable" xlink:title="definition: StatementLineItems to StatementTable" use="optional" order="10.0" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="StatementTable" xlink:to="StatementClassOfStockAxis" xlink:title="definition: StatementTable to StatementClassOfStockAxis" use="optional" order="10.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="StatementEquityComponentsAxis" xlink:title="StatementEquityComponentsAxis" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="StatementTable" xlink:to="StatementEquityComponentsAxis" xlink:title="definition: StatementTable to StatementEquityComponentsAxis" use="optional" order="20.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="EquityComponentDomain" xlink:title="EquityComponentDomain" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="StatementEquityComponentsAxis" xlink:to="EquityComponentDomain" xlink:title="definition: StatementEquityComponentsAxis to EquityComponentDomain" use="optional" order="10.0" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EquityComponentDomain" xlink:to="ParentMember" xlink:title="definition: EquityComponentDomain to ParentMember" use="optional" order="10.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NoncontrollingInterestMember" xlink:label="NoncontrollingInterestMember" xlink:title="NoncontrollingInterestMember" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="EquityComponentDomain" xlink:to="NoncontrollingInterestMember" xlink:title="definition: EquityComponentDomain to NoncontrollingInterestMember" use="optional" order="20.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockDividendsPerShareCashPaid" xlink:label="CommonStockDividendsPerShareCashPaid" xlink:title="CommonStockDividendsPerShareCashPaid" />
    <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="StatementLineItems" xlink:to="CommonStockDividendsPerShareCashPaid" xlink:title="definition: StatementLineItems to CommonStockDividendsPerShareCashPaid" use="optional" order="20.0" />
  </link:definitionLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>10
<FILENAME>ltc-20130331_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABELS LINKBASE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
<!-- Created by Merrill Corporation -->
<!-- Generated by Fujitsu Interstage XWand B0189 -->
<!--Generated by IRIS XBRL Generation Engine-->
<link:linkbase xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance">
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" />
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Alamogordo134NMMember" xlink:label="Alamogordo134NMMember" xlink:title="Alamogordo134NMMember" />
    <link:label xlink:type="resource" xlink:label="label_Alamogordo134NMMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Alamogordo134NMMember" xml:lang="en-US" id="label_Alamogordo134NMMember">Represents the information pertaining to 134 Alamogordo, NM.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Alamogordo134NMMember" xlink:to="label_Alamogordo134NMMember" xlink:title="label: Alamogordo134NMMember to label_Alamogordo134NMMember" />
    <link:label xlink:type="resource" xlink:label="label_Alamogordo134NMMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Alamogordo134NMMember" xml:lang="en-US" id="label_Alamogordo134NMMember_2">Alamogordo 134 NM [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Alamogordo134NMMember" xlink:to="label_Alamogordo134NMMember_2" xlink:title="label: Alamogordo134NMMember to label_Alamogordo134NMMember" />
    <link:label xlink:type="resource" xlink:label="label_Alamogordo134NMMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Alamogordo134NMMember" xml:lang="en-US" id="label_Alamogordo134NMMember_3">134 Alamogordo, NM</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Alamogordo134NMMember" xlink:to="label_Alamogordo134NMMember_3" xlink:title="label: Alamogordo134NMMember to label_Alamogordo134NMMember" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateNumberOfProperties" xlink:label="MortgageLoansOnRealEstateNumberOfProperties" xlink:title="MortgageLoansOnRealEstateNumberOfProperties" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateNumberOfProperties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateNumberOfProperties" xml:lang="en-US" id="label_MortgageLoansOnRealEstateNumberOfProperties">Mortgage Loans on Real Estate, Number of Properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateNumberOfProperties" xlink:to="label_MortgageLoansOnRealEstateNumberOfProperties" xlink:title="label: MortgageLoansOnRealEstateNumberOfProperties to label_MortgageLoansOnRealEstateNumberOfProperties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateNumberOfProperties_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateNumberOfProperties" xml:lang="en-US" id="label_MortgageLoansOnRealEstateNumberOfProperties_2">Number of properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateNumberOfProperties" xlink:to="label_MortgageLoansOnRealEstateNumberOfProperties_2" xlink:title="label: MortgageLoansOnRealEstateNumberOfProperties to label_MortgageLoansOnRealEstateNumberOfProperties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateNumberOfProperties_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateNumberOfProperties" xml:lang="en-US" id="label_MortgageLoansOnRealEstateNumberOfProperties_3">Represents the number of owned properties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateNumberOfProperties" xlink:to="label_MortgageLoansOnRealEstateNumberOfProperties_3" xlink:title="label: MortgageLoansOnRealEstateNumberOfProperties to label_MortgageLoansOnRealEstateNumberOfProperties" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Albuquerque218NMMember" xlink:label="Albuquerque218NMMember" xlink:title="Albuquerque218NMMember" />
    <link:label xlink:type="resource" xlink:label="label_Albuquerque218NMMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Albuquerque218NMMember" xml:lang="en-US" id="label_Albuquerque218NMMember">Represents the information pertaining to 218 Albuquerque, NM.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Albuquerque218NMMember" xlink:to="label_Albuquerque218NMMember" xlink:title="label: Albuquerque218NMMember to label_Albuquerque218NMMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Albuquerque218NMMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Albuquerque218NMMember" xml:lang="en-US" id="label_Albuquerque218NMMember_2">Albuquerque 218 NM [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Albuquerque218NMMember" xlink:to="label_Albuquerque218NMMember_2" xlink:title="label: Albuquerque218NMMember to label_Albuquerque218NMMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Albuquerque218NMMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Albuquerque218NMMember" xml:lang="en-US" id="label_Albuquerque218NMMember_3">218 Albuquerque, NM</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Albuquerque218NMMember" xlink:to="label_Albuquerque218NMMember_3" xlink:title="label: Albuquerque218NMMember to label_Albuquerque218NMMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Albuquerque219NMMember" xlink:label="Albuquerque219NMMember" xlink:title="Albuquerque219NMMember" />
    <link:label xlink:type="resource" xlink:label="label_Albuquerque219NMMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Albuquerque219NMMember" xml:lang="en-US" id="label_Albuquerque219NMMember">Represents the information pertaining to 219 Albuquerque, NM.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Albuquerque219NMMember" xlink:to="label_Albuquerque219NMMember" xlink:title="label: Albuquerque219NMMember to label_Albuquerque219NMMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Albuquerque219NMMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Albuquerque219NMMember" xml:lang="en-US" id="label_Albuquerque219NMMember_2">Albuquerque 219 NM [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Albuquerque219NMMember" xlink:to="label_Albuquerque219NMMember_2" xlink:title="label: Albuquerque219NMMember to label_Albuquerque219NMMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Albuquerque219NMMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Albuquerque219NMMember" xml:lang="en-US" id="label_Albuquerque219NMMember_3">219 Albuquerque, NM</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Albuquerque219NMMember" xlink:to="label_Albuquerque219NMMember_3" xlink:title="label: Albuquerque219NMMember to label_Albuquerque219NMMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Albuquerque220NMMember" xlink:label="Albuquerque220NMMember" xlink:title="Albuquerque220NMMember" />
    <link:label xlink:type="resource" xlink:label="label_Albuquerque220NMMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Albuquerque220NMMember" xml:lang="en-US" id="label_Albuquerque220NMMember">Represents the information pertaining to 220 Albuquerque, NM.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Albuquerque220NMMember" xlink:to="label_Albuquerque220NMMember" xlink:title="label: Albuquerque220NMMember to label_Albuquerque220NMMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Albuquerque220NMMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Albuquerque220NMMember" xml:lang="en-US" id="label_Albuquerque220NMMember_2">Albuquerque 220 NM [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Albuquerque220NMMember" xlink:to="label_Albuquerque220NMMember_2" xlink:title="label: Albuquerque220NMMember to label_Albuquerque220NMMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Albuquerque220NMMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Albuquerque220NMMember" xml:lang="en-US" id="label_Albuquerque220NMMember_3">220 Albuquerque, NM</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Albuquerque220NMMember" xlink:to="label_Albuquerque220NMMember_3" xlink:title="label: Albuquerque220NMMember to label_Albuquerque220NMMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/invest/2012/invest-2012-01-31.xsd#invest_InvestmentTable" xlink:label="InvestmentTable" xlink:title="InvestmentTable" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentTable" xml:lang="en-US" id="label_InvestmentTable">Investment [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentTable" xlink:to="label_InvestmentTable" xlink:title="label: InvestmentTable to label_InvestmentTable" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Altoona042IAMember" xlink:label="Altoona042IAMember" xlink:title="Altoona042IAMember" />
    <link:label xlink:type="resource" xlink:label="label_Altoona042IAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Altoona042IAMember" xml:lang="en-US" id="label_Altoona042IAMember">Represents the information pertaining to 042 Altoona, IA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Altoona042IAMember" xlink:to="label_Altoona042IAMember" xlink:title="label: Altoona042IAMember to label_Altoona042IAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Altoona042IAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Altoona042IAMember" xml:lang="en-US" id="label_Altoona042IAMember_2">Altoona 042 IA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Altoona042IAMember" xlink:to="label_Altoona042IAMember_2" xlink:title="label: Altoona042IAMember to label_Altoona042IAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Altoona042IAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Altoona042IAMember" xml:lang="en-US" id="label_Altoona042IAMember_3">042 Altoona, IA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Altoona042IAMember" xlink:to="label_Altoona042IAMember_3" xlink:title="label: Altoona042IAMember to label_Altoona042IAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="AwardTypeAxis" xlink:title="AwardTypeAxis" />
    <link:label xlink:type="resource" xlink:label="label_AwardTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AwardTypeAxis" xml:lang="en-US" id="label_AwardTypeAxis">Award Type [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AwardTypeAxis" xlink:to="label_AwardTypeAxis" xlink:title="label: AwardTypeAxis to label_AwardTypeAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_AransasPass214TXMember" xlink:label="AransasPass214TXMember" xlink:title="AransasPass214TXMember" />
    <link:label xlink:type="resource" xlink:label="label_AransasPass214TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AransasPass214TXMember" xml:lang="en-US" id="label_AransasPass214TXMember">Represents the information pertaining to 214 Aransas Pass, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AransasPass214TXMember" xlink:to="label_AransasPass214TXMember" xlink:title="label: AransasPass214TXMember to label_AransasPass214TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AransasPass214TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AransasPass214TXMember" xml:lang="en-US" id="label_AransasPass214TXMember_2">Aransas Pass 214 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AransasPass214TXMember" xlink:to="label_AransasPass214TXMember_2" xlink:title="label: AransasPass214TXMember to label_AransasPass214TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AransasPass214TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AransasPass214TXMember" xml:lang="en-US" id="label_AransasPass214TXMember_3">214 Aransas Pass, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AransasPass214TXMember" xlink:to="label_AransasPass214TXMember_3" xlink:title="label: AransasPass214TXMember to label_AransasPass214TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Arlington247TXMember" xlink:label="Arlington247TXMember" xlink:title="Arlington247TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Arlington247TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Arlington247TXMember" xml:lang="en-US" id="label_Arlington247TXMember">Represents the information pertaining to 247 Arlington, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Arlington247TXMember" xlink:to="label_Arlington247TXMember" xlink:title="label: Arlington247TXMember to label_Arlington247TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Arlington247TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Arlington247TXMember" xml:lang="en-US" id="label_Arlington247TXMember_2">Arlington 247 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Arlington247TXMember" xlink:to="label_Arlington247TXMember_2" xlink:title="label: Arlington247TXMember to label_Arlington247TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Arlington247TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Arlington247TXMember" xml:lang="en-US" id="label_Arlington247TXMember_3">247 Arlington, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Arlington247TXMember" xlink:to="label_Arlington247TXMember_3" xlink:title="label: Arlington247TXMember to label_Arlington247TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Loveland114COOneMember" xlink:label="Loveland114COOneMember" xlink:title="Loveland114COOneMember" />
    <link:label xlink:type="resource" xlink:label="label_Loveland114COOneMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Loveland114COOneMember" xml:lang="en-US" id="label_Loveland114COOneMember">Loveland 114 CO One [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Loveland114COOneMember" xlink:to="label_Loveland114COOneMember" xlink:title="label: Loveland114COOneMember to label_Loveland114COOneMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Loveland114COOneMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Loveland114COOneMember" xml:lang="en-US" id="label_Loveland114COOneMember_2">114 Loveland, CO, one</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Loveland114COOneMember" xlink:to="label_Loveland114COOneMember_2" xlink:title="label: Loveland114COOneMember to label_Loveland114COOneMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Loveland114COOneMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Loveland114COOneMember" xml:lang="en-US" id="label_Loveland114COOneMember_3">Represents the information pertaining to 114 Loveland, CO,one.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Loveland114COOneMember" xlink:to="label_Loveland114COOneMember_3" xlink:title="label: Loveland114COOneMember to label_Loveland114COOneMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Atlanta171GAMember" xlink:label="Atlanta171GAMember" xlink:title="Atlanta171GAMember" />
    <link:label xlink:type="resource" xlink:label="label_Atlanta171GAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Atlanta171GAMember" xml:lang="en-US" id="label_Atlanta171GAMember">Represents the information pertaining to 171 Atlanta, GA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Atlanta171GAMember" xlink:to="label_Atlanta171GAMember" xlink:title="label: Atlanta171GAMember to label_Atlanta171GAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Atlanta171GAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Atlanta171GAMember" xml:lang="en-US" id="label_Atlanta171GAMember_2">Atlanta 171 GA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Atlanta171GAMember" xlink:to="label_Atlanta171GAMember_2" xlink:title="label: Atlanta171GAMember to label_Atlanta171GAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Atlanta171GAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Atlanta171GAMember" xml:lang="en-US" id="label_Atlanta171GAMember_3">171 Atlanta, GA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Atlanta171GAMember" xlink:to="label_Atlanta171GAMember_3" xlink:title="label: Atlanta171GAMember to label_Atlanta171GAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_AmendmentDescription" xlink:label="AmendmentDescription" xlink:title="AmendmentDescription" />
    <link:label xlink:type="resource" xlink:label="label_AmendmentDescription" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AmendmentDescription" xml:lang="en-US" id="label_AmendmentDescription">Amendment Description</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmendmentDescription" xlink:to="label_AmendmentDescription" xlink:title="label: AmendmentDescription to label_AmendmentDescription" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Atmore040ALMember" xlink:label="Atmore040ALMember" xlink:title="Atmore040ALMember" />
    <link:label xlink:type="resource" xlink:label="label_Atmore040ALMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Atmore040ALMember" xml:lang="en-US" id="label_Atmore040ALMember">Represents the information pertaining to 040 Atmore, AL.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Atmore040ALMember" xlink:to="label_Atmore040ALMember" xlink:title="label: Atmore040ALMember to label_Atmore040ALMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Atmore040ALMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Atmore040ALMember" xml:lang="en-US" id="label_Atmore040ALMember_2">Atmore 040 AL [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Atmore040ALMember" xlink:to="label_Atmore040ALMember_2" xlink:title="label: Atmore040ALMember to label_Atmore040ALMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Atmore040ALMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Atmore040ALMember" xml:lang="en-US" id="label_Atmore040ALMember_3">040 Atmore, AL</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Atmore040ALMember" xlink:to="label_Atmore040ALMember_3" xlink:title="label: Atmore040ALMember to label_Atmore040ALMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_AmendmentFlag" xlink:label="AmendmentFlag" xlink:title="AmendmentFlag" />
    <link:label xlink:type="resource" xlink:label="label_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AmendmentFlag" xml:lang="en-US" id="label_AmendmentFlag">Amendment Flag</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmendmentFlag" xlink:to="label_AmendmentFlag" xlink:title="label: AmendmentFlag to label_AmendmentFlag" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Beaumont221TXMember" xlink:label="Beaumont221TXMember" xlink:title="Beaumont221TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Beaumont221TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Beaumont221TXMember" xml:lang="en-US" id="label_Beaumont221TXMember">Represents the information pertaining to 221 Beaumont, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Beaumont221TXMember" xlink:to="label_Beaumont221TXMember" xlink:title="label: Beaumont221TXMember to label_Beaumont221TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Beaumont221TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Beaumont221TXMember" xml:lang="en-US" id="label_Beaumont221TXMember_2">Beaumont 221 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Beaumont221TXMember" xlink:to="label_Beaumont221TXMember_2" xlink:title="label: Beaumont221TXMember to label_Beaumont221TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Beaumont221TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Beaumont221TXMember" xml:lang="en-US" id="label_Beaumont221TXMember_3">221 Beaumont, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Beaumont221TXMember" xlink:to="label_Beaumont221TXMember_3" xlink:title="label: Beaumont221TXMember to label_Beaumont221TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Beeville213TXMember" xlink:label="Beeville213TXMember" xlink:title="Beeville213TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Beeville213TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Beeville213TXMember" xml:lang="en-US" id="label_Beeville213TXMember">Represents the information pertaining to 213 Beeville, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Beeville213TXMember" xlink:to="label_Beeville213TXMember" xlink:title="label: Beeville213TXMember to label_Beeville213TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Beeville213TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Beeville213TXMember" xml:lang="en-US" id="label_Beeville213TXMember_2">Beeville 213 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Beeville213TXMember" xlink:to="label_Beeville213TXMember_2" xlink:title="label: Beeville213TXMember to label_Beeville213TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Beeville213TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Beeville213TXMember" xml:lang="en-US" id="label_Beeville213TXMember_3">213 Beeville, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Beeville213TXMember" xlink:to="label_Beeville213TXMember_3" xlink:title="label: Beeville213TXMember to label_Beeville213TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Benbrook215TXMember" xlink:label="Benbrook215TXMember" xlink:title="Benbrook215TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Benbrook215TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Benbrook215TXMember" xml:lang="en-US" id="label_Benbrook215TXMember">Represents the information pertaining to 215 Benbrook, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Benbrook215TXMember" xlink:to="label_Benbrook215TXMember" xlink:title="label: Benbrook215TXMember to label_Benbrook215TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Benbrook215TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Benbrook215TXMember" xml:lang="en-US" id="label_Benbrook215TXMember_2">Benbrook 215 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Benbrook215TXMember" xlink:to="label_Benbrook215TXMember_2" xlink:title="label: Benbrook215TXMember to label_Benbrook215TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Benbrook215TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Benbrook215TXMember" xml:lang="en-US" id="label_Benbrook215TXMember_3">215 Benbrook, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Benbrook215TXMember" xlink:to="label_Benbrook215TXMember_3" xlink:title="label: Benbrook215TXMember to label_Benbrook215TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Canyon189TXMember" xlink:label="Canyon189TXMember" xlink:title="Canyon189TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Canyon189TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Canyon189TXMember" xml:lang="en-US" id="label_Canyon189TXMember">Represents the information pertaining to 189 Canyon, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Canyon189TXMember" xlink:to="label_Canyon189TXMember" xlink:title="label: Canyon189TXMember to label_Canyon189TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Canyon189TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Canyon189TXMember" xml:lang="en-US" id="label_Canyon189TXMember_2">Canyon 189 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Canyon189TXMember" xlink:to="label_Canyon189TXMember_2" xlink:title="label: Canyon189TXMember to label_Canyon189TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Canyon189TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Canyon189TXMember" xml:lang="en-US" id="label_Canyon189TXMember_3">189 Canyon, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Canyon189TXMember" xlink:to="label_Canyon189TXMember_3" xlink:title="label: Canyon189TXMember to label_Canyon189TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd#stpr_CA" xlink:label="CA" xlink:title="CA" />
    <link:label xlink:type="resource" xlink:label="label_CA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CA" xml:lang="en-US" id="label_CA">CALIFORNIA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CA" xlink:to="label_CA" xlink:title="label: CA to label_CA" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CA_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CA" xml:lang="en-US" id="label_CA_2">CA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CA" xlink:to="label_CA_2" xlink:title="label: CA to label_CA" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CA_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_CA" xml:lang="en-US" id="label_CA_3">California</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CA" xlink:to="label_CA_3" xlink:title="label: CA to label_CA" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Carroll043IAMember" xlink:label="Carroll043IAMember" xlink:title="Carroll043IAMember" />
    <link:label xlink:type="resource" xlink:label="label_Carroll043IAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Carroll043IAMember" xml:lang="en-US" id="label_Carroll043IAMember">Represents the information pertaining to 043 Carroll, IA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Carroll043IAMember" xlink:to="label_Carroll043IAMember" xlink:title="label: Carroll043IAMember to label_Carroll043IAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Carroll043IAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Carroll043IAMember" xml:lang="en-US" id="label_Carroll043IAMember_2">Carroll 043 IA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Carroll043IAMember" xlink:to="label_Carroll043IAMember_2" xlink:title="label: Carroll043IAMember to label_Carroll043IAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Carroll043IAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Carroll043IAMember" xml:lang="en-US" id="label_Carroll043IAMember_3">043 Carroll, IA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Carroll043IAMember" xlink:to="label_Carroll043IAMember_3" xlink:title="label: Carroll043IAMember to label_Carroll043IAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd#stpr_CO" xlink:label="CO" xlink:title="CO" />
    <link:label xlink:type="resource" xlink:label="label_CO" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CO" xml:lang="en-US" id="label_CO">COLORADO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CO" xlink:to="label_CO" xlink:title="label: CO to label_CO" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CO_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CO" xml:lang="en-US" id="label_CO_2">Colorado</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CO" xlink:to="label_CO_2" xlink:title="label: CO to label_CO" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Chesapeake177VAMember" xlink:label="Chesapeake177VAMember" xlink:title="Chesapeake177VAMember" />
    <link:label xlink:type="resource" xlink:label="label_Chesapeake177VAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Chesapeake177VAMember" xml:lang="en-US" id="label_Chesapeake177VAMember">Represents the information pertaining to 177 Chesapeake, VA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Chesapeake177VAMember" xlink:to="label_Chesapeake177VAMember" xlink:title="label: Chesapeake177VAMember to label_Chesapeake177VAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Chesapeake177VAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Chesapeake177VAMember" xml:lang="en-US" id="label_Chesapeake177VAMember_2">Chesapeake 177 VA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Chesapeake177VAMember" xlink:to="label_Chesapeake177VAMember_2" xlink:title="label: Chesapeake177VAMember to label_Chesapeake177VAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Chesapeake177VAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Chesapeake177VAMember" xml:lang="en-US" id="label_Chesapeake177VAMember_3">177 Chesapeake, VA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Chesapeake177VAMember" xlink:to="label_Chesapeake177VAMember_3" xlink:title="label: Chesapeake177VAMember to label_Chesapeake177VAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Clovis125NMMember" xlink:label="Clovis125NMMember" xlink:title="Clovis125NMMember" />
    <link:label xlink:type="resource" xlink:label="label_Clovis125NMMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Clovis125NMMember" xml:lang="en-US" id="label_Clovis125NMMember">Represents the information pertaining to 125 Clovis, NM.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Clovis125NMMember" xlink:to="label_Clovis125NMMember" xlink:title="label: Clovis125NMMember to label_Clovis125NMMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Clovis125NMMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Clovis125NMMember" xml:lang="en-US" id="label_Clovis125NMMember_2">Clovis 125 NM [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Clovis125NMMember" xlink:to="label_Clovis125NMMember_2" xlink:title="label: Clovis125NMMember to label_Clovis125NMMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Clovis125NMMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Clovis125NMMember" xml:lang="en-US" id="label_Clovis125NMMember_3">125 Clovis, NM</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Clovis125NMMember" xlink:to="label_Clovis125NMMember_3" xlink:title="label: Clovis125NMMember to label_Clovis125NMMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Clovis129NMMember" xlink:label="Clovis129NMMember" xlink:title="Clovis129NMMember" />
    <link:label xlink:type="resource" xlink:label="label_Clovis129NMMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Clovis129NMMember" xml:lang="en-US" id="label_Clovis129NMMember">Represents the information pertaining to 129 Clovis, NM.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Clovis129NMMember" xlink:to="label_Clovis129NMMember" xlink:title="label: Clovis129NMMember to label_Clovis129NMMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Clovis129NMMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Clovis129NMMember" xml:lang="en-US" id="label_Clovis129NMMember_2">Clovis 129 NM [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Clovis129NMMember" xlink:to="label_Clovis129NMMember_2" xlink:title="label: Clovis129NMMember to label_Clovis129NMMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Clovis129NMMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Clovis129NMMember" xml:lang="en-US" id="label_Clovis129NMMember_3">129 Clovis, NM</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Clovis129NMMember" xlink:to="label_Clovis129NMMember_3" xlink:title="label: Clovis129NMMember to label_Clovis129NMMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Commerce211COMember" xlink:label="Commerce211COMember" xlink:title="Commerce211COMember" />
    <link:label xlink:type="resource" xlink:label="label_Commerce211COMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Commerce211COMember" xml:lang="en-US" id="label_Commerce211COMember">Represents the information pertaining to 211 Commerce City, CO.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Commerce211COMember" xlink:to="label_Commerce211COMember" xlink:title="label: Commerce211COMember to label_Commerce211COMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Commerce211COMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Commerce211COMember" xml:lang="en-US" id="label_Commerce211COMember_2">Commerce 211 CO [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Commerce211COMember" xlink:to="label_Commerce211COMember_2" xlink:title="label: Commerce211COMember to label_Commerce211COMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Commerce211COMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Commerce211COMember" xml:lang="en-US" id="label_Commerce211COMember_3">211 Commerce City, CO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Commerce211COMember" xlink:to="label_Commerce211COMember_3" xlink:title="label: Commerce211COMember to label_Commerce211COMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CommerceCity212COMember" xlink:label="CommerceCity212COMember" xlink:title="CommerceCity212COMember" />
    <link:label xlink:type="resource" xlink:label="label_CommerceCity212COMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CommerceCity212COMember" xml:lang="en-US" id="label_CommerceCity212COMember">Represents the information pertaining to 212 Commerce City, CO.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommerceCity212COMember" xlink:to="label_CommerceCity212COMember" xlink:title="label: CommerceCity212COMember to label_CommerceCity212COMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommerceCity212COMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommerceCity212COMember" xml:lang="en-US" id="label_CommerceCity212COMember_2">Commerce City 212 CO [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommerceCity212COMember" xlink:to="label_CommerceCity212COMember_2" xlink:title="label: CommerceCity212COMember to label_CommerceCity212COMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommerceCity212COMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommerceCity212COMember" xml:lang="en-US" id="label_CommerceCity212COMember_3">212 Commerce City, CO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommerceCity212COMember" xlink:to="label_CommerceCity212COMember_3" xlink:title="label: CommerceCity212COMember to label_CommerceCity212COMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd#stpr_FL" xlink:label="FL" xlink:title="FL" />
    <link:label xlink:type="resource" xlink:label="label_FL" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FL" xml:lang="en-US" id="label_FL">FLORIDA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FL" xlink:to="label_FL" xlink:title="label: FL to label_FL" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_FL_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FL" xml:lang="en-US" id="label_FL_2">FL</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FL" xlink:to="label_FL_2" xlink:title="label: FL to label_FL" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_FL_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_FL" xml:lang="en-US" id="label_FL_3">Florida</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FL" xlink:to="label_FL_3" xlink:title="label: FL to label_FL" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Crowley246TXMember" xlink:label="Crowley246TXMember" xlink:title="Crowley246TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Crowley246TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Crowley246TXMember" xml:lang="en-US" id="label_Crowley246TXMember">Represents the information pertaining to 246 Crowley, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Crowley246TXMember" xlink:to="label_Crowley246TXMember" xlink:title="label: Crowley246TXMember to label_Crowley246TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Crowley246TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Crowley246TXMember" xml:lang="en-US" id="label_Crowley246TXMember_2">Crowley 246 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Crowley246TXMember" xlink:to="label_Crowley246TXMember_2" xlink:title="label: Crowley246TXMember to label_Crowley246TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Crowley246TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Crowley246TXMember" xml:lang="en-US" id="label_Crowley246TXMember_3">246 Crowley, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Crowley246TXMember" xlink:to="label_Crowley246TXMember_3" xlink:title="label: Crowley246TXMember to label_Crowley246TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Daleville235VAMember" xlink:label="Daleville235VAMember" xlink:title="Daleville235VAMember" />
    <link:label xlink:type="resource" xlink:label="label_Daleville235VAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Daleville235VAMember" xml:lang="en-US" id="label_Daleville235VAMember">Represents the information pertaining to 235 Daleville, VA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Daleville235VAMember" xlink:to="label_Daleville235VAMember" xlink:title="label: Daleville235VAMember to label_Daleville235VAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Daleville235VAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Daleville235VAMember" xml:lang="en-US" id="label_Daleville235VAMember_2">Daleville 235 VA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Daleville235VAMember" xlink:to="label_Daleville235VAMember_2" xlink:title="label: Daleville235VAMember to label_Daleville235VAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Daleville235VAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Daleville235VAMember" xml:lang="en-US" id="label_Daleville235VAMember_3">235 Daleville, VA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Daleville235VAMember" xlink:to="label_Daleville235VAMember_3" xlink:title="label: Daleville235VAMember to label_Daleville235VAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DelNorte217COMember" xlink:label="DelNorte217COMember" xlink:title="DelNorte217COMember" />
    <link:label xlink:type="resource" xlink:label="label_DelNorte217COMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DelNorte217COMember" xml:lang="en-US" id="label_DelNorte217COMember">Represents the information pertaining to 217 Del Norte, CO.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DelNorte217COMember" xlink:to="label_DelNorte217COMember" xlink:title="label: DelNorte217COMember to label_DelNorte217COMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DelNorte217COMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DelNorte217COMember" xml:lang="en-US" id="label_DelNorte217COMember_2">Del Norte 217 CO [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DelNorte217COMember" xlink:to="label_DelNorte217COMember_2" xlink:title="label: DelNorte217COMember to label_DelNorte217COMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DelNorte217COMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DelNorte217COMember" xml:lang="en-US" id="label_DelNorte217COMember_3">217 Del Norte, CO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DelNorte217COMember" xlink:to="label_DelNorte217COMember_3" xlink:title="label: DelNorte217COMember to label_DelNorte217COMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd#stpr_IA" xlink:label="IA" xlink:title="IA" />
    <link:label xlink:type="resource" xlink:label="label_IA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IA" xml:lang="en-US" id="label_IA">IOWA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IA" xlink:to="label_IA" xlink:title="label: IA to label_IA" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_IA_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IA" xml:lang="en-US" id="label_IA_2">IA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IA" xlink:to="label_IA_2" xlink:title="label: IA to label_IA" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/invest/2012/invest-2012-01-31.xsd#invest_InvestmentLineItems" xlink:label="InvestmentLineItems" xlink:title="InvestmentLineItems" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentLineItems" xml:lang="en-US" id="label_InvestmentLineItems">Investment [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentLineItems" xlink:to="label_InvestmentLineItems" xlink:title="label: InvestmentLineItems to label_InvestmentLineItems" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentLineItems_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentLineItems" xml:lang="en-US" id="label_InvestmentLineItems_2">Real Estate Investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentLineItems" xlink:to="label_InvestmentLineItems_2" xlink:title="label: InvestmentLineItems to label_InvestmentLineItems" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Dresden196TNMember" xlink:label="Dresden196TNMember" xlink:title="Dresden196TNMember" />
    <link:label xlink:type="resource" xlink:label="label_Dresden196TNMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Dresden196TNMember" xml:lang="en-US" id="label_Dresden196TNMember">Represents the information pertaining to 196 Dresden, TN.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Dresden196TNMember" xlink:to="label_Dresden196TNMember" xlink:title="label: Dresden196TNMember to label_Dresden196TNMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Dresden196TNMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Dresden196TNMember" xml:lang="en-US" id="label_Dresden196TNMember_2">Dresden 196 TN [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Dresden196TNMember" xlink:to="label_Dresden196TNMember_2" xlink:title="label: Dresden196TNMember to label_Dresden196TNMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Dresden196TNMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Dresden196TNMember" xml:lang="en-US" id="label_Dresden196TNMember_3">196 Dresden, TN</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Dresden196TNMember" xlink:to="label_Dresden196TNMember_3" xlink:title="label: Dresden196TNMember to label_Dresden196TNMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Gardner185KSMember" xlink:label="Gardner185KSMember" xlink:title="Gardner185KSMember" />
    <link:label xlink:type="resource" xlink:label="label_Gardner185KSMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Gardner185KSMember" xml:lang="en-US" id="label_Gardner185KSMember">Represents the information pertaining to 185 Gardner, KS.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Gardner185KSMember" xlink:to="label_Gardner185KSMember" xlink:title="label: Gardner185KSMember to label_Gardner185KSMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Gardner185KSMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Gardner185KSMember" xml:lang="en-US" id="label_Gardner185KSMember_2">Gardner 185 KS [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Gardner185KSMember" xlink:to="label_Gardner185KSMember_2" xlink:title="label: Gardner185KSMember to label_Gardner185KSMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Gardner185KSMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Gardner185KSMember" xml:lang="en-US" id="label_Gardner185KSMember_3">185 Gardner, KS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Gardner185KSMember" xlink:to="label_Gardner185KSMember_3" xlink:title="label: Gardner185KSMember to label_Gardner185KSMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Granbury248TXMember" xlink:label="Granbury248TXMember" xlink:title="Granbury248TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Granbury248TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Granbury248TXMember" xml:lang="en-US" id="label_Granbury248TXMember">Represents the information pertaining to 248 Granbury, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Granbury248TXMember" xlink:to="label_Granbury248TXMember" xlink:title="label: Granbury248TXMember to label_Granbury248TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Granbury248TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Granbury248TXMember" xml:lang="en-US" id="label_Granbury248TXMember_2">Granbury 248 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Granbury248TXMember" xlink:to="label_Granbury248TXMember_2" xlink:title="label: Granbury248TXMember to label_Granbury248TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Granbury248TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Granbury248TXMember" xml:lang="en-US" id="label_Granbury248TXMember_3">248 Granbury, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Granbury248TXMember" xlink:to="label_Granbury248TXMember_3" xlink:title="label: Granbury248TXMember to label_Granbury248TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="CurrentFiscalYearEndDate" xlink:title="CurrentFiscalYearEndDate" />
    <link:label xlink:type="resource" xlink:label="label_CurrentFiscalYearEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentFiscalYearEndDate" xml:lang="en-US" id="label_CurrentFiscalYearEndDate">Current Fiscal Year End Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentFiscalYearEndDate" xlink:to="label_CurrentFiscalYearEndDate" xlink:title="label: CurrentFiscalYearEndDate to label_CurrentFiscalYearEndDate" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Granger044IAMember" xlink:label="Granger044IAMember" xlink:title="Granger044IAMember" />
    <link:label xlink:type="resource" xlink:label="label_Granger044IAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Granger044IAMember" xml:lang="en-US" id="label_Granger044IAMember">Represents the information pertaining to 044 Granger, IA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Granger044IAMember" xlink:to="label_Granger044IAMember" xlink:title="label: Granger044IAMember to label_Granger044IAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Granger044IAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Granger044IAMember" xml:lang="en-US" id="label_Granger044IAMember_2">Granger 044 IA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Granger044IAMember" xlink:to="label_Granger044IAMember_2" xlink:title="label: Granger044IAMember to label_Granger044IAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Granger044IAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Granger044IAMember" xml:lang="en-US" id="label_Granger044IAMember_3">044 Granger, IA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Granger044IAMember" xlink:to="label_Granger044IAMember_3" xlink:title="label: Granger044IAMember to label_Granger044IAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd#stpr_KS" xlink:label="KS" xlink:title="KS" />
    <link:label xlink:type="resource" xlink:label="label_KS" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_KS" xml:lang="en-US" id="label_KS">Kansas</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KS" xlink:to="label_KS" xlink:title="label: KS to label_KS" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_KS_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_KS" xml:lang="en-US" id="label_KS_2">KANSAS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KS" xlink:to="label_KS_2" xlink:title="label: KS to label_KS" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Grapevine205TXMember" xlink:label="Grapevine205TXMember" xlink:title="Grapevine205TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Grapevine205TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Grapevine205TXMember" xml:lang="en-US" id="label_Grapevine205TXMember">Represents the information pertaining to 205 Grapevine, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Grapevine205TXMember" xlink:to="label_Grapevine205TXMember" xlink:title="label: Grapevine205TXMember to label_Grapevine205TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Grapevine205TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Grapevine205TXMember" xml:lang="en-US" id="label_Grapevine205TXMember_2">Grapevine 205 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Grapevine205TXMember" xlink:to="label_Grapevine205TXMember_2" xlink:title="label: Grapevine205TXMember to label_Grapevine205TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Grapevine205TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Grapevine205TXMember" xml:lang="en-US" id="label_Grapevine205TXMember_3">205 Grapevine, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Grapevine205TXMember" xlink:to="label_Grapevine205TXMember_3" xlink:title="label: Grapevine205TXMember to label_Grapevine205TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd#stpr_KY" xlink:label="KY" xlink:title="KY" />
    <link:label xlink:type="resource" xlink:label="label_KY" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_KY" xml:lang="en-US" id="label_KY">Northern Kentucky</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KY" xlink:to="label_KY" xlink:title="label: KY to label_KY" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_KY_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_KY" xml:lang="en-US" id="label_KY_2">KENTUCKY</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KY" xlink:to="label_KY_2" xlink:title="label: KY to label_KY" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Griffin172GAMember" xlink:label="Griffin172GAMember" xlink:title="Griffin172GAMember" />
    <link:label xlink:type="resource" xlink:label="label_Griffin172GAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Griffin172GAMember" xml:lang="en-US" id="label_Griffin172GAMember">Represents the information pertaining to 172 Griffin, GA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Griffin172GAMember" xlink:to="label_Griffin172GAMember" xlink:title="label: Griffin172GAMember to label_Griffin172GAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Griffin172GAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Griffin172GAMember" xml:lang="en-US" id="label_Griffin172GAMember_2">Griffin 172 GA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Griffin172GAMember" xlink:to="label_Griffin172GAMember_2" xlink:title="label: Griffin172GAMember to label_Griffin172GAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Griffin172GAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Griffin172GAMember" xml:lang="en-US" id="label_Griffin172GAMember_3">172 Griffin, GA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Griffin172GAMember" xlink:to="label_Griffin172GAMember_3" xlink:title="label: Griffin172GAMember to label_Griffin172GAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Hewitt250TXMember" xlink:label="Hewitt250TXMember" xlink:title="Hewitt250TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Hewitt250TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Hewitt250TXMember" xml:lang="en-US" id="label_Hewitt250TXMember">Represents the information pertaining to 250 Hewitt, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Hewitt250TXMember" xlink:to="label_Hewitt250TXMember" xlink:title="label: Hewitt250TXMember to label_Hewitt250TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Hewitt250TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Hewitt250TXMember" xml:lang="en-US" id="label_Hewitt250TXMember_2">Hewitt 250 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Hewitt250TXMember" xlink:to="label_Hewitt250TXMember_2" xlink:title="label: Hewitt250TXMember to label_Hewitt250TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Hewitt250TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Hewitt250TXMember" xml:lang="en-US" id="label_Hewitt250TXMember_3">250 Hewitt, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Hewitt250TXMember" xlink:to="label_Hewitt250TXMember_3" xlink:title="label: Hewitt250TXMember to label_Hewitt250TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Houston054TXMember" xlink:label="Houston054TXMember" xlink:title="Houston054TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Houston054TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Houston054TXMember" xml:lang="en-US" id="label_Houston054TXMember">Represents the information pertaining to 054 Houston, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Houston054TXMember" xlink:to="label_Houston054TXMember" xlink:title="label: Houston054TXMember to label_Houston054TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Houston054TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Houston054TXMember" xml:lang="en-US" id="label_Houston054TXMember_2">Houston 054 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Houston054TXMember" xlink:to="label_Houston054TXMember_2" xlink:title="label: Houston054TXMember to label_Houston054TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Houston054TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Houston054TXMember" xml:lang="en-US" id="label_Houston054TXMember_3">054 Houston, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Houston054TXMember" xlink:to="label_Houston054TXMember_3" xlink:title="label: Houston054TXMember to label_Houston054TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Houston051TXMember" xlink:label="Houston051TXMember" xlink:title="Houston051TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Houston051TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Houston051TXMember" xml:lang="en-US" id="label_Houston051TXMember">Represents the information pertaining to 051 Houston, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Houston051TXMember" xlink:to="label_Houston051TXMember" xlink:title="label: Houston051TXMember to label_Houston051TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Houston051TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Houston051TXMember" xml:lang="en-US" id="label_Houston051TXMember_2">Houston 051 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Houston051TXMember" xlink:to="label_Houston051TXMember_2" xlink:title="label: Houston051TXMember to label_Houston051TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Houston051TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Houston051TXMember" xml:lang="en-US" id="label_Houston051TXMember_3">051 Houston, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Houston051TXMember" xlink:to="label_Houston051TXMember_3" xlink:title="label: Houston051TXMember to label_Houston051TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Houston055TXMember" xlink:label="Houston055TXMember" xlink:title="Houston055TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Houston055TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Houston055TXMember" xml:lang="en-US" id="label_Houston055TXMember">Represents the information pertaining to 055 Houston, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Houston055TXMember" xlink:to="label_Houston055TXMember" xlink:title="label: Houston055TXMember to label_Houston055TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Houston055TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Houston055TXMember" xml:lang="en-US" id="label_Houston055TXMember_2">Houston 055 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Houston055TXMember" xlink:to="label_Houston055TXMember_2" xlink:title="label: Houston055TXMember to label_Houston055TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Houston055TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Houston055TXMember" xml:lang="en-US" id="label_Houston055TXMember_3">055 Houston, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Houston055TXMember" xlink:to="label_Houston055TXMember_3" xlink:title="label: Houston055TXMember to label_Houston055TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Jacksonville208FLMember" xlink:label="Jacksonville208FLMember" xlink:title="Jacksonville208FLMember" />
    <link:label xlink:type="resource" xlink:label="label_Jacksonville208FLMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Jacksonville208FLMember" xml:lang="en-US" id="label_Jacksonville208FLMember">Represents the information pertaining to 208 Jacksonville, FL.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Jacksonville208FLMember" xlink:to="label_Jacksonville208FLMember" xlink:title="label: Jacksonville208FLMember to label_Jacksonville208FLMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Jacksonville208FLMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Jacksonville208FLMember" xml:lang="en-US" id="label_Jacksonville208FLMember_2">Jacksonville 208 FL [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Jacksonville208FLMember" xlink:to="label_Jacksonville208FLMember_2" xlink:title="label: Jacksonville208FLMember to label_Jacksonville208FLMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Jacksonville208FLMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Jacksonville208FLMember" xml:lang="en-US" id="label_Jacksonville208FLMember_3">208 Jacksonville, FL</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Jacksonville208FLMember" xlink:to="label_Jacksonville208FLMember_3" xlink:title="label: Jacksonville208FLMember to label_Jacksonville208FLMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd#stpr_MN" xlink:label="MN" xlink:title="MN" />
    <link:label xlink:type="resource" xlink:label="label_MN" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MN" xml:lang="en-US" id="label_MN">MINNESOTA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MN" xlink:to="label_MN" xlink:title="label: MN to label_MN" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MN_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MN" xml:lang="en-US" id="label_MN_2">Minnesota</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MN" xlink:to="label_MN_2" xlink:title="label: MN to label_MN" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Jefferson045IAMember" xlink:label="Jefferson045IAMember" xlink:title="Jefferson045IAMember" />
    <link:label xlink:type="resource" xlink:label="label_Jefferson045IAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Jefferson045IAMember" xml:lang="en-US" id="label_Jefferson045IAMember">Represents the information pertaining to 045 Jefferson, IA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Jefferson045IAMember" xlink:to="label_Jefferson045IAMember" xlink:title="label: Jefferson045IAMember to label_Jefferson045IAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Jefferson045IAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Jefferson045IAMember" xml:lang="en-US" id="label_Jefferson045IAMember_2">Jefferson 045 IA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Jefferson045IAMember" xlink:to="label_Jefferson045IAMember_2" xlink:title="label: Jefferson045IAMember to label_Jefferson045IAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Jefferson045IAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Jefferson045IAMember" xml:lang="en-US" id="label_Jefferson045IAMember_3">045 Jefferson, IA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Jefferson045IAMember" xlink:to="label_Jefferson045IAMember_3" xlink:title="label: Jefferson045IAMember to label_Jefferson045IAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd#stpr_MO" xlink:label="MO" xlink:title="MO" />
    <link:label xlink:type="resource" xlink:label="label_MO" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MO" xml:lang="en-US" id="label_MO">MISSOURI</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MO" xlink:to="label_MO" xlink:title="label: MO to label_MO" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MO_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MO" xml:lang="en-US" id="label_MO_2">MO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MO" xlink:to="label_MO_2" xlink:title="label: MO to label_MO" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Marion216OHMember" xlink:label="Marion216OHMember" xlink:title="Marion216OHMember" />
    <link:label xlink:type="resource" xlink:label="label_Marion216OHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Marion216OHMember" xml:lang="en-US" id="label_Marion216OHMember">Represents the information pertaining to 216 Marion, OH.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Marion216OHMember" xlink:to="label_Marion216OHMember" xlink:title="label: Marion216OHMember to label_Marion216OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Marion216OHMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Marion216OHMember" xml:lang="en-US" id="label_Marion216OHMember_2">Marion 216 OH [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Marion216OHMember" xlink:to="label_Marion216OHMember_2" xlink:title="label: Marion216OHMember to label_Marion216OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Marion216OHMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Marion216OHMember" xml:lang="en-US" id="label_Marion216OHMember_3">216 Marion, OH</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Marion216OHMember" xlink:to="label_Marion216OHMember_3" xlink:title="label: Marion216OHMember to label_Marion216OHMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Marion222OHMember" xlink:label="Marion222OHMember" xlink:title="Marion222OHMember" />
    <link:label xlink:type="resource" xlink:label="label_Marion222OHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Marion222OHMember" xml:lang="en-US" id="label_Marion222OHMember">Represents the information pertaining to 222 Marion, OH.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Marion222OHMember" xlink:to="label_Marion222OHMember" xlink:title="label: Marion222OHMember to label_Marion222OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Marion222OHMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Marion222OHMember" xml:lang="en-US" id="label_Marion222OHMember_2">Marion 222 OH [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Marion222OHMember" xlink:to="label_Marion222OHMember_2" xlink:title="label: Marion222OHMember to label_Marion222OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Marion222OHMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Marion222OHMember" xml:lang="en-US" id="label_Marion222OHMember_3">222 Marion, OH</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Marion222OHMember" xlink:to="label_Marion222OHMember_3" xlink:title="label: Marion222OHMember to label_Marion222OHMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd#stpr_MT" xlink:label="MT" xlink:title="MT" />
    <link:label xlink:type="resource" xlink:label="label_MT" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MT" xml:lang="en-US" id="label_MT">MONTANA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MT" xlink:to="label_MT" xlink:title="label: MT to label_MT" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MT_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MT" xml:lang="en-US" id="label_MT_2">MT</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MT" xlink:to="label_MT_2" xlink:title="label: MT to label_MT" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="DocumentPeriodEndDate" xlink:title="DocumentPeriodEndDate" />
    <link:label xlink:type="resource" xlink:label="label_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DocumentPeriodEndDate" xml:lang="en-US" id="label_DocumentPeriodEndDate">Document Period End Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentPeriodEndDate" xlink:to="label_DocumentPeriodEndDate" xlink:title="label: DocumentPeriodEndDate to label_DocumentPeriodEndDate" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Marion227OHMember" xlink:label="Marion227OHMember" xlink:title="Marion227OHMember" />
    <link:label xlink:type="resource" xlink:label="label_Marion227OHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Marion227OHMember" xml:lang="en-US" id="label_Marion227OHMember">Represents the information pertaining to 227 Marion, OH.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Marion227OHMember" xlink:to="label_Marion227OHMember" xlink:title="label: Marion227OHMember to label_Marion227OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Marion227OHMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Marion227OHMember" xml:lang="en-US" id="label_Marion227OHMember_2">Marion 227 OH [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Marion227OHMember" xlink:to="label_Marion227OHMember_2" xlink:title="label: Marion227OHMember to label_Marion227OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Marion227OHMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Marion227OHMember" xml:lang="en-US" id="label_Marion227OHMember_3">227 Marion, OH</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Marion227OHMember" xlink:to="label_Marion227OHMember_3" xlink:title="label: Marion227OHMember to label_Marion227OHMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Mesa053AZMember" xlink:label="Mesa053AZMember" xlink:title="Mesa053AZMember" />
    <link:label xlink:type="resource" xlink:label="label_Mesa053AZMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Mesa053AZMember" xml:lang="en-US" id="label_Mesa053AZMember">Represents the information pertaining to 053 Mesa, AZ.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Mesa053AZMember" xlink:to="label_Mesa053AZMember" xlink:title="label: Mesa053AZMember to label_Mesa053AZMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Mesa053AZMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Mesa053AZMember" xml:lang="en-US" id="label_Mesa053AZMember_2">Mesa 053 AZ [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Mesa053AZMember" xlink:to="label_Mesa053AZMember_2" xlink:title="label: Mesa053AZMember to label_Mesa053AZMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Mesa053AZMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Mesa053AZMember" xml:lang="en-US" id="label_Mesa053AZMember_3">053 Mesa, AZ</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Mesa053AZMember" xlink:to="label_Mesa053AZMember_3" xlink:title="label: Mesa053AZMember to label_Mesa053AZMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Mesa226AZMember" xlink:label="Mesa226AZMember" xlink:title="Mesa226AZMember" />
    <link:label xlink:type="resource" xlink:label="label_Mesa226AZMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Mesa226AZMember" xml:lang="en-US" id="label_Mesa226AZMember">Represents the information pertaining to 226 Mesa, AZ.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Mesa226AZMember" xlink:to="label_Mesa226AZMember" xlink:title="label: Mesa226AZMember to label_Mesa226AZMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Mesa226AZMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Mesa226AZMember" xml:lang="en-US" id="label_Mesa226AZMember_2">Mesa 226 AZ [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Mesa226AZMember" xlink:to="label_Mesa226AZMember_2" xlink:title="label: Mesa226AZMember to label_Mesa226AZMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Mesa226AZMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Mesa226AZMember" xml:lang="en-US" id="label_Mesa226AZMember_3">226 Mesa, AZ</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Mesa226AZMember" xlink:to="label_Mesa226AZMember_3" xlink:title="label: Mesa226AZMember to label_Mesa226AZMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd#stpr_NE" xlink:label="NE" xlink:title="NE" />
    <link:label xlink:type="resource" xlink:label="label_NE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NE" xml:lang="en-US" id="label_NE">NEBRASKA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NE" xlink:to="label_NE" xlink:title="label: NE to label_NE" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NE_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NE" xml:lang="en-US" id="label_NE_2">NE</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NE" xlink:to="label_NE_2" xlink:title="label: NE to label_NE" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Midland050TXMember" xlink:label="Midland050TXMember" xlink:title="Midland050TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Midland050TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Midland050TXMember" xml:lang="en-US" id="label_Midland050TXMember">Represents the information pertaining to 050 Midland, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Midland050TXMember" xlink:to="label_Midland050TXMember" xlink:title="label: Midland050TXMember to label_Midland050TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Midland050TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Midland050TXMember" xml:lang="en-US" id="label_Midland050TXMember_2">Midland 050 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Midland050TXMember" xlink:to="label_Midland050TXMember_2" xlink:title="label: Midland050TXMember to label_Midland050TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Midland050TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Midland050TXMember" xml:lang="en-US" id="label_Midland050TXMember_3">050 Midland, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Midland050TXMember" xlink:to="label_Midland050TXMember_3" xlink:title="label: Midland050TXMember to label_Midland050TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Mission242TXMember" xlink:label="Mission242TXMember" xlink:title="Mission242TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Mission242TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Mission242TXMember" xml:lang="en-US" id="label_Mission242TXMember">Represents the information pertaining to 242 Mission, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Mission242TXMember" xlink:to="label_Mission242TXMember" xlink:title="label: Mission242TXMember to label_Mission242TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Mission242TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Mission242TXMember" xml:lang="en-US" id="label_Mission242TXMember_2">Mission 242 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Mission242TXMember" xlink:to="label_Mission242TXMember_2" xlink:title="label: Mission242TXMember to label_Mission242TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Mission242TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Mission242TXMember" xml:lang="en-US" id="label_Mission242TXMember_3">242 Mission, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Mission242TXMember" xlink:to="label_Mission242TXMember_3" xlink:title="label: Mission242TXMember to label_Mission242TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd#stpr_NJ" xlink:label="NJ" xlink:title="NJ" />
    <link:label xlink:type="resource" xlink:label="label_NJ" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NJ" xml:lang="en-US" id="label_NJ">New Jersey</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NJ" xlink:to="label_NJ" xlink:title="label: NJ to label_NJ" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NJ_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NJ" xml:lang="en-US" id="label_NJ_2">NEW JERSEY</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NJ" xlink:to="label_NJ_2" xlink:title="label: NJ to label_NJ" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Montgomery041ALMember" xlink:label="Montgomery041ALMember" xlink:title="Montgomery041ALMember" />
    <link:label xlink:type="resource" xlink:label="label_Montgomery041ALMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Montgomery041ALMember" xml:lang="en-US" id="label_Montgomery041ALMember">Represents the information pertaining to 041 Montgomery, AL.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Montgomery041ALMember" xlink:to="label_Montgomery041ALMember" xlink:title="label: Montgomery041ALMember to label_Montgomery041ALMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Montgomery041ALMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Montgomery041ALMember" xml:lang="en-US" id="label_Montgomery041ALMember_2">Montgomery 041 AL [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Montgomery041ALMember" xlink:to="label_Montgomery041ALMember_2" xlink:title="label: Montgomery041ALMember to label_Montgomery041ALMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Montgomery041ALMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Montgomery041ALMember" xml:lang="en-US" id="label_Montgomery041ALMember_3">041 Montgomery, AL</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Montgomery041ALMember" xlink:to="label_Montgomery041ALMember_3" xlink:title="label: Montgomery041ALMember to label_Montgomery041ALMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Nacogdoches115TXMember" xlink:label="Nacogdoches115TXMember" xlink:title="Nacogdoches115TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Nacogdoches115TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Nacogdoches115TXMember" xml:lang="en-US" id="label_Nacogdoches115TXMember">Represents the information pertaining to 115 Nacogdoches, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Nacogdoches115TXMember" xlink:to="label_Nacogdoches115TXMember" xlink:title="label: Nacogdoches115TXMember to label_Nacogdoches115TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Nacogdoches115TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Nacogdoches115TXMember" xml:lang="en-US" id="label_Nacogdoches115TXMember_2">Nacogdoches 115 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Nacogdoches115TXMember" xlink:to="label_Nacogdoches115TXMember_2" xlink:title="label: Nacogdoches115TXMember to label_Nacogdoches115TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Nacogdoches115TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Nacogdoches115TXMember" xml:lang="en-US" id="label_Nacogdoches115TXMember_3">115 Nacogdoches, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Nacogdoches115TXMember" xlink:to="label_Nacogdoches115TXMember_3" xlink:title="label: Nacogdoches115TXMember to label_Nacogdoches115TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Nacogdoches233TXMember" xlink:label="Nacogdoches233TXMember" xlink:title="Nacogdoches233TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Nacogdoches233TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Nacogdoches233TXMember" xml:lang="en-US" id="label_Nacogdoches233TXMember">Represents the information pertaining to 233 Nacogdoches, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Nacogdoches233TXMember" xlink:to="label_Nacogdoches233TXMember" xlink:title="label: Nacogdoches233TXMember to label_Nacogdoches233TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Nacogdoches233TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Nacogdoches233TXMember" xml:lang="en-US" id="label_Nacogdoches233TXMember_2">Nacogdoches 233 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Nacogdoches233TXMember" xlink:to="label_Nacogdoches233TXMember_2" xlink:title="label: Nacogdoches233TXMember to label_Nacogdoches233TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Nacogdoches233TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Nacogdoches233TXMember" xml:lang="en-US" id="label_Nacogdoches233TXMember_3">233 Nacogdoches, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Nacogdoches233TXMember" xlink:to="label_Nacogdoches233TXMember_3" xlink:title="label: Nacogdoches233TXMember to label_Nacogdoches233TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Nacogdoches249TXMember" xlink:label="Nacogdoches249TXMember" xlink:title="Nacogdoches249TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Nacogdoches249TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Nacogdoches249TXMember" xml:lang="en-US" id="label_Nacogdoches249TXMember">Represents the information pertaining to 249 Nacogdoches, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Nacogdoches249TXMember" xlink:to="label_Nacogdoches249TXMember" xlink:title="label: Nacogdoches249TXMember to label_Nacogdoches249TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Nacogdoches249TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Nacogdoches249TXMember" xml:lang="en-US" id="label_Nacogdoches249TXMember_2">Nacogdoches 249 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Nacogdoches249TXMember" xlink:to="label_Nacogdoches249TXMember_2" xlink:title="label: Nacogdoches249TXMember to label_Nacogdoches249TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Nacogdoches249TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Nacogdoches249TXMember" xml:lang="en-US" id="label_Nacogdoches249TXMember_3">249 Nacogdoches, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Nacogdoches249TXMember" xlink:to="label_Nacogdoches249TXMember_3" xlink:title="label: Nacogdoches249TXMember to label_Nacogdoches249TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd#stpr_OH" xlink:label="OH" xlink:title="OH" />
    <link:label xlink:type="resource" xlink:label="label_OH" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OH" xml:lang="en-US" id="label_OH">OHIO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OH" xlink:to="label_OH" xlink:title="label: OH to label_OH" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OH_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OH" xml:lang="en-US" id="label_OH_2">Ohio</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OH" xlink:to="label_OH_2" xlink:title="label: OH to label_OH" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityDomain" xlink:label="EntityDomain" xlink:title="EntityDomain" />
    <link:label xlink:type="resource" xlink:label="label_EntityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityDomain" xml:lang="en-US" id="label_EntityDomain">Entity [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityDomain" xlink:to="label_EntityDomain" xlink:title="label: EntityDomain to label_EntityDomain" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Norwalk046IAMember" xlink:label="Norwalk046IAMember" xlink:title="Norwalk046IAMember" />
    <link:label xlink:type="resource" xlink:label="label_Norwalk046IAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Norwalk046IAMember" xml:lang="en-US" id="label_Norwalk046IAMember">Represents the information pertaining to 046 Norwalk, IA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Norwalk046IAMember" xlink:to="label_Norwalk046IAMember" xlink:title="label: Norwalk046IAMember to label_Norwalk046IAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Norwalk046IAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Norwalk046IAMember" xml:lang="en-US" id="label_Norwalk046IAMember_2">Norwalk 046 IA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Norwalk046IAMember" xlink:to="label_Norwalk046IAMember_2" xlink:title="label: Norwalk046IAMember to label_Norwalk046IAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Norwalk046IAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Norwalk046IAMember" xml:lang="en-US" id="label_Norwalk046IAMember_3">046 Norwalk, IA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Norwalk046IAMember" xlink:to="label_Norwalk046IAMember_3" xlink:title="label: Norwalk046IAMember to label_Norwalk046IAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd#stpr_OK" xlink:label="OK" xlink:title="OK" />
    <link:label xlink:type="resource" xlink:label="label_OK" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OK" xml:lang="en-US" id="label_OK">OKLAHOMA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OK" xlink:to="label_OK" xlink:title="label: OK to label_OK" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OK_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OK" xml:lang="en-US" id="label_OK_2">Oklahoma</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OK" xlink:to="label_OK_2" xlink:title="label: OK to label_OK" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Olathe176KSMember" xlink:label="Olathe176KSMember" xlink:title="Olathe176KSMember" />
    <link:label xlink:type="resource" xlink:label="label_Olathe176KSMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Olathe176KSMember" xml:lang="en-US" id="label_Olathe176KSMember">Represents the information pertaining to 176 Olathe, KS.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Olathe176KSMember" xlink:to="label_Olathe176KSMember" xlink:title="label: Olathe176KSMember to label_Olathe176KSMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Olathe176KSMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Olathe176KSMember" xml:lang="en-US" id="label_Olathe176KSMember_2">Olathe 176 KS [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Olathe176KSMember" xlink:to="label_Olathe176KSMember_2" xlink:title="label: Olathe176KSMember to label_Olathe176KSMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Olathe176KSMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Olathe176KSMember" xml:lang="en-US" id="label_Olathe176KSMember_3">176 Olathe, KS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Olathe176KSMember" xlink:to="label_Olathe176KSMember_3" xlink:title="label: Olathe176KSMember to label_Olathe176KSMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Orrville224OHMember" xlink:label="Orrville224OHMember" xlink:title="Orrville224OHMember" />
    <link:label xlink:type="resource" xlink:label="label_Orrville224OHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Orrville224OHMember" xml:lang="en-US" id="label_Orrville224OHMember">Represents the information pertaining to 224 Orrville, OH.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Orrville224OHMember" xlink:to="label_Orrville224OHMember" xlink:title="label: Orrville224OHMember to label_Orrville224OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Orrville224OHMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Orrville224OHMember" xml:lang="en-US" id="label_Orrville224OHMember_2">Orrville 224 OH [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Orrville224OHMember" xlink:to="label_Orrville224OHMember_2" xlink:title="label: Orrville224OHMember to label_Orrville224OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Orrville224OHMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Orrville224OHMember" xml:lang="en-US" id="label_Orrville224OHMember_3">224 Orrville, OH</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Orrville224OHMember" xlink:to="label_Orrville224OHMember_3" xlink:title="label: Orrville224OHMember to label_Orrville224OHMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd#stpr_PA" xlink:label="PA" xlink:title="PA" />
    <link:label xlink:type="resource" xlink:label="label_PA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PA" xml:lang="en-US" id="label_PA">PA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PA" xlink:to="label_PA" xlink:title="label: PA to label_PA" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PA_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PA" xml:lang="en-US" id="label_PA_2">PENNSYLVANIA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PA" xlink:to="label_PA_2" xlink:title="label: PA to label_PA" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Phoenix210AZMember" xlink:label="Phoenix210AZMember" xlink:title="Phoenix210AZMember" />
    <link:label xlink:type="resource" xlink:label="label_Phoenix210AZMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Phoenix210AZMember" xml:lang="en-US" id="label_Phoenix210AZMember">Represents the information pertaining to 210 Phoenix, AZ.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Phoenix210AZMember" xlink:to="label_Phoenix210AZMember" xlink:title="label: Phoenix210AZMember to label_Phoenix210AZMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Phoenix210AZMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Phoenix210AZMember" xml:lang="en-US" id="label_Phoenix210AZMember_2">Phoenix 210 AZ [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Phoenix210AZMember" xlink:to="label_Phoenix210AZMember_2" xlink:title="label: Phoenix210AZMember to label_Phoenix210AZMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Phoenix210AZMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Phoenix210AZMember" xml:lang="en-US" id="label_Phoenix210AZMember_3">210 Phoenix, AZ</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Phoenix210AZMember" xlink:to="label_Phoenix210AZMember_3" xlink:title="label: Phoenix210AZMember to label_Phoenix210AZMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Phoenix193AZMember" xlink:label="Phoenix193AZMember" xlink:title="Phoenix193AZMember" />
    <link:label xlink:type="resource" xlink:label="label_Phoenix193AZMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Phoenix193AZMember" xml:lang="en-US" id="label_Phoenix193AZMember">Represents the information pertaining to 193 Phoenix, AZ.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Phoenix193AZMember" xlink:to="label_Phoenix193AZMember" xlink:title="label: Phoenix193AZMember to label_Phoenix193AZMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Phoenix193AZMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Phoenix193AZMember" xml:lang="en-US" id="label_Phoenix193AZMember_2">Phoenix 193 AZ [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Phoenix193AZMember" xlink:to="label_Phoenix193AZMember_2" xlink:title="label: Phoenix193AZMember to label_Phoenix193AZMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Phoenix193AZMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Phoenix193AZMember" xml:lang="en-US" id="label_Phoenix193AZMember_3">193 Phoenix, AZ</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Phoenix193AZMember" xlink:to="label_Phoenix193AZMember_3" xlink:title="label: Phoenix193AZMember to label_Phoenix193AZMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd#stpr_SC" xlink:label="SC" xlink:title="SC" />
    <link:label xlink:type="resource" xlink:label="label_SC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SC" xml:lang="en-US" id="label_SC">SOUTH CAROLINA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SC" xlink:to="label_SC" xlink:title="label: SC to label_SC" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SC_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SC" xml:lang="en-US" id="label_SC_2">South Carolina</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SC" xlink:to="label_SC_2" xlink:title="label: SC to label_SC" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_PolkCity047IAMember" xlink:label="PolkCity047IAMember" xlink:title="PolkCity047IAMember" />
    <link:label xlink:type="resource" xlink:label="label_PolkCity047IAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PolkCity047IAMember" xml:lang="en-US" id="label_PolkCity047IAMember">Represents the information pertaining to 047 Polk City, IA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PolkCity047IAMember" xlink:to="label_PolkCity047IAMember" xlink:title="label: PolkCity047IAMember to label_PolkCity047IAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PolkCity047IAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PolkCity047IAMember" xml:lang="en-US" id="label_PolkCity047IAMember_2">Polk City 047 IA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PolkCity047IAMember" xlink:to="label_PolkCity047IAMember_2" xlink:title="label: PolkCity047IAMember to label_PolkCity047IAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PolkCity047IAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PolkCity047IAMember" xml:lang="en-US" id="label_PolkCity047IAMember_3">047 Polk City, IA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PolkCity047IAMember" xlink:to="label_PolkCity047IAMember_3" xlink:title="label: PolkCity047IAMember to label_PolkCity047IAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd#stpr_SD" xlink:label="SD" xlink:title="SD" />
    <link:label xlink:type="resource" xlink:label="label_SD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SD" xml:lang="en-US" id="label_SD">SOUTH DAKOTA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SD" xlink:to="label_SD" xlink:title="label: SD to label_SD" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SD_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SD" xml:lang="en-US" id="label_SD_2">SD</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SD" xlink:to="label_SD_2" xlink:title="label: SD to label_SD" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Portland094ORMember" xlink:label="Portland094ORMember" xlink:title="Portland094ORMember" />
    <link:label xlink:type="resource" xlink:label="label_Portland094ORMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Portland094ORMember" xml:lang="en-US" id="label_Portland094ORMember">Represents the information pertaining to 094 Portland, OR.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Portland094ORMember" xlink:to="label_Portland094ORMember" xlink:title="label: Portland094ORMember to label_Portland094ORMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Portland094ORMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Portland094ORMember" xml:lang="en-US" id="label_Portland094ORMember_2">Portland 094 OR [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Portland094ORMember" xlink:to="label_Portland094ORMember_2" xlink:title="label: Portland094ORMember to label_Portland094ORMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Portland094ORMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Portland094ORMember" xml:lang="en-US" id="label_Portland094ORMember_3">094 Portland, OR</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Portland094ORMember" xlink:to="label_Portland094ORMember_3" xlink:title="label: Portland094ORMember to label_Portland094ORMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RichlandHills124TXMember" xlink:label="RichlandHills124TXMember" xlink:title="RichlandHills124TXMember" />
    <link:label xlink:type="resource" xlink:label="label_RichlandHills124TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RichlandHills124TXMember" xml:lang="en-US" id="label_RichlandHills124TXMember">Represents the information pertaining to 124 Richland Hills, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RichlandHills124TXMember" xlink:to="label_RichlandHills124TXMember" xlink:title="label: RichlandHills124TXMember to label_RichlandHills124TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RichlandHills124TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RichlandHills124TXMember" xml:lang="en-US" id="label_RichlandHills124TXMember_2">Richland Hills 124 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RichlandHills124TXMember" xlink:to="label_RichlandHills124TXMember_2" xlink:title="label: RichlandHills124TXMember to label_RichlandHills124TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RichlandHills124TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RichlandHills124TXMember" xml:lang="en-US" id="label_RichlandHills124TXMember_3">124 Richland Hills, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RichlandHills124TXMember" xlink:to="label_RichlandHills124TXMember_3" xlink:title="label: RichlandHills124TXMember to label_RichlandHills124TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd#stpr_TX" xlink:label="TX" xlink:title="TX" />
    <link:label xlink:type="resource" xlink:label="label_TX" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TX" xml:lang="en-US" id="label_TX">TEXAS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TX" xlink:to="label_TX" xlink:title="label: TX to label_TX" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_TX_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TX" xml:lang="en-US" id="label_TX_2">Texas</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TX" xlink:to="label_TX_2" xlink:title="label: TX to label_TX" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_TX_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_TX" xml:lang="en-US" id="label_TX_3">TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TX" xlink:to="label_TX_3" xlink:title="label: TX to label_TX" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Ripley197TNMember" xlink:label="Ripley197TNMember" xlink:title="Ripley197TNMember" />
    <link:label xlink:type="resource" xlink:label="label_Ripley197TNMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Ripley197TNMember" xml:lang="en-US" id="label_Ripley197TNMember">Represents the information pertaining to 197 Ripley, TN.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Ripley197TNMember" xlink:to="label_Ripley197TNMember" xlink:title="label: Ripley197TNMember to label_Ripley197TNMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Ripley197TNMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Ripley197TNMember" xml:lang="en-US" id="label_Ripley197TNMember_2">Ripley 197 TN [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Ripley197TNMember" xlink:to="label_Ripley197TNMember_2" xlink:title="label: Ripley197TNMember to label_Ripley197TNMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Ripley197TNMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Ripley197TNMember" xml:lang="en-US" id="label_Ripley197TNMember_3">197 Ripley, TN</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Ripley197TNMember" xlink:to="label_Ripley197TNMember_3" xlink:title="label: Ripley197TNMember to label_Ripley197TNMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd#stpr_UT" xlink:label="UT" xlink:title="UT" />
    <link:label xlink:type="resource" xlink:label="label_UT" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_UT" xml:lang="en-US" id="label_UT">UT</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UT" xlink:to="label_UT" xlink:title="label: UT to label_UT" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_UT_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UT" xml:lang="en-US" id="label_UT_2">UTAH</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UT" xlink:to="label_UT_2" xlink:title="label: UT to label_UT" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Roswell133NMMember" xlink:label="Roswell133NMMember" xlink:title="Roswell133NMMember" />
    <link:label xlink:type="resource" xlink:label="label_Roswell133NMMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Roswell133NMMember" xml:lang="en-US" id="label_Roswell133NMMember">Represents the information pertaining to 133 Roswell, NM.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Roswell133NMMember" xlink:to="label_Roswell133NMMember" xlink:title="label: Roswell133NMMember to label_Roswell133NMMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Roswell133NMMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Roswell133NMMember" xml:lang="en-US" id="label_Roswell133NMMember_2">Roswell 133 NM [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Roswell133NMMember" xlink:to="label_Roswell133NMMember_2" xlink:title="label: Roswell133NMMember to label_Roswell133NMMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Roswell133NMMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Roswell133NMMember" xml:lang="en-US" id="label_Roswell133NMMember_3">133 Roswell, NM</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Roswell133NMMember" xlink:to="label_Roswell133NMMember_3" xlink:title="label: Roswell133NMMember to label_Roswell133NMMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd#stpr_VA" xlink:label="VA" xlink:title="VA" />
    <link:label xlink:type="resource" xlink:label="label_VA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_VA" xml:lang="en-US" id="label_VA">Virginia</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VA" xlink:to="label_VA" xlink:title="label: VA to label_VA" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_VA_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_VA" xml:lang="en-US" id="label_VA_2">VIRGINIA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VA" xlink:to="label_VA_2" xlink:title="label: VA to label_VA" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Rusk070TXMember" xlink:label="Rusk070TXMember" xlink:title="Rusk070TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Rusk070TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Rusk070TXMember" xml:lang="en-US" id="label_Rusk070TXMember">Represents the information pertaining to 070 Rusk, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Rusk070TXMember" xlink:to="label_Rusk070TXMember" xlink:title="label: Rusk070TXMember to label_Rusk070TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Rusk070TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Rusk070TXMember" xml:lang="en-US" id="label_Rusk070TXMember_2">Rusk 070 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Rusk070TXMember" xlink:to="label_Rusk070TXMember_2" xlink:title="label: Rusk070TXMember to label_Rusk070TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Rusk070TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Rusk070TXMember" xml:lang="en-US" id="label_Rusk070TXMember_3">070 Rusk, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Rusk070TXMember" xlink:to="label_Rusk070TXMember_3" xlink:title="label: Rusk070TXMember to label_Rusk070TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Sacramento081CAMember" xlink:label="Sacramento081CAMember" xlink:title="Sacramento081CAMember" />
    <link:label xlink:type="resource" xlink:label="label_Sacramento081CAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Sacramento081CAMember" xml:lang="en-US" id="label_Sacramento081CAMember">Represents the information pertaining to 081 Sacramento, CA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Sacramento081CAMember" xlink:to="label_Sacramento081CAMember" xlink:title="label: Sacramento081CAMember to label_Sacramento081CAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Sacramento081CAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Sacramento081CAMember" xml:lang="en-US" id="label_Sacramento081CAMember_2">Sacramento 081 CA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Sacramento081CAMember" xlink:to="label_Sacramento081CAMember_2" xlink:title="label: Sacramento081CAMember to label_Sacramento081CAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Sacramento081CAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Sacramento081CAMember" xml:lang="en-US" id="label_Sacramento081CAMember_3">081 Sacramento, CA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Sacramento081CAMember" xlink:to="label_Sacramento081CAMember_3" xlink:title="label: Sacramento081CAMember to label_Sacramento081CAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Salina085KSMember" xlink:label="Salina085KSMember" xlink:title="Salina085KSMember" />
    <link:label xlink:type="resource" xlink:label="label_Salina085KSMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Salina085KSMember" xml:lang="en-US" id="label_Salina085KSMember">Represents the information pertaining to 085 Salina, KS.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Salina085KSMember" xlink:to="label_Salina085KSMember" xlink:title="label: Salina085KSMember to label_Salina085KSMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Salina085KSMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Salina085KSMember" xml:lang="en-US" id="label_Salina085KSMember_2">Salina 085 KS [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Salina085KSMember" xlink:to="label_Salina085KSMember_2" xlink:title="label: Salina085KSMember to label_Salina085KSMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Salina085KSMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Salina085KSMember" xml:lang="en-US" id="label_Salina085KSMember_3">085 Salina, KS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Salina085KSMember" xlink:to="label_Salina085KSMember_3" xlink:title="label: Salina085KSMember to label_Salina085KSMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd#stpr_WI" xlink:label="WI" xlink:title="WI" />
    <link:label xlink:type="resource" xlink:label="label_WI" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_WI" xml:lang="en-US" id="label_WI">WI</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WI" xlink:to="label_WI" xlink:title="label: WI to label_WI" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_WI_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WI" xml:lang="en-US" id="label_WI_2">WISCONSIN</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WI" xlink:to="label_WI_2" xlink:title="label: WI to label_WI" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Stephenville243TXMember" xlink:label="Stephenville243TXMember" xlink:title="Stephenville243TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Stephenville243TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Stephenville243TXMember" xml:lang="en-US" id="label_Stephenville243TXMember">Represents the information pertaining to 243 Stephenville, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Stephenville243TXMember" xlink:to="label_Stephenville243TXMember" xlink:title="label: Stephenville243TXMember to label_Stephenville243TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Stephenville243TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Stephenville243TXMember" xml:lang="en-US" id="label_Stephenville243TXMember_2">Stephenville 243 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Stephenville243TXMember" xlink:to="label_Stephenville243TXMember_2" xlink:title="label: Stephenville243TXMember to label_Stephenville243TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Stephenville243TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Stephenville243TXMember" xml:lang="en-US" id="label_Stephenville243TXMember_3">243 Stephenville, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Stephenville243TXMember" xlink:to="label_Stephenville243TXMember_3" xlink:title="label: Stephenville243TXMember to label_Stephenville243TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_St.Petersburg234FLMember" xlink:label="St.Petersburg234FLMember" xlink:title="St.Petersburg234FLMember" />
    <link:label xlink:type="resource" xlink:label="label_St.Petersburg234FLMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_St.Petersburg234FLMember" xml:lang="en-US" id="label_St.Petersburg234FLMember">Represents the information pertaining to 234 St. Petersburg, FL.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="St.Petersburg234FLMember" xlink:to="label_St.Petersburg234FLMember" xlink:title="label: St.Petersburg234FLMember to label_St.Petersburg234FLMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_St.Petersburg234FLMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_St.Petersburg234FLMember" xml:lang="en-US" id="label_St.Petersburg234FLMember_2">St. Petersburg 234 FL [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="St.Petersburg234FLMember" xlink:to="label_St.Petersburg234FLMember_2" xlink:title="label: St.Petersburg234FLMember to label_St.Petersburg234FLMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_St.Petersburg234FLMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_St.Petersburg234FLMember" xml:lang="en-US" id="label_St.Petersburg234FLMember_3">234 St. Petersburg, FL</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="St.Petersburg234FLMember" xlink:to="label_St.Petersburg234FLMember_3" xlink:title="label: St.Petersburg234FLMember to label_St.Petersburg234FLMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Tacoma225WAMember" xlink:label="Tacoma225WAMember" xlink:title="Tacoma225WAMember" />
    <link:label xlink:type="resource" xlink:label="label_Tacoma225WAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Tacoma225WAMember" xml:lang="en-US" id="label_Tacoma225WAMember">Represents the information pertaining to 225 Tacoma, WA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tacoma225WAMember" xlink:to="label_Tacoma225WAMember" xlink:title="label: Tacoma225WAMember to label_Tacoma225WAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Tacoma225WAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Tacoma225WAMember" xml:lang="en-US" id="label_Tacoma225WAMember_2">Tacoma 225 WA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tacoma225WAMember" xlink:to="label_Tacoma225WAMember_2" xlink:title="label: Tacoma225WAMember to label_Tacoma225WAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Tacoma225WAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Tacoma225WAMember" xml:lang="en-US" id="label_Tacoma225WAMember_3">225 Tacoma, WA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tacoma225WAMember" xlink:to="label_Tacoma225WAMember_3" xlink:title="label: Tacoma225WAMember to label_Tacoma225WAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Tappahannock178VAMember" xlink:label="Tappahannock178VAMember" xlink:title="Tappahannock178VAMember" />
    <link:label xlink:type="resource" xlink:label="label_Tappahannock178VAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Tappahannock178VAMember" xml:lang="en-US" id="label_Tappahannock178VAMember">Represents the information pertaining to 178 Tappahannock, VA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tappahannock178VAMember" xlink:to="label_Tappahannock178VAMember" xlink:title="label: Tappahannock178VAMember to label_Tappahannock178VAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Tappahannock178VAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Tappahannock178VAMember" xml:lang="en-US" id="label_Tappahannock178VAMember_2">Tappahannock 178 VA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tappahannock178VAMember" xlink:to="label_Tappahannock178VAMember_2" xlink:title="label: Tappahannock178VAMember to label_Tappahannock178VAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Tappahannock178VAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Tappahannock178VAMember" xml:lang="en-US" id="label_Tappahannock178VAMember_3">178 Tappahannock, VA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tappahannock178VAMember" xlink:to="label_Tappahannock178VAMember_3" xlink:title="label: Tappahannock178VAMember to label_Tappahannock178VAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Tucson192AZMember" xlink:label="Tucson192AZMember" xlink:title="Tucson192AZMember" />
    <link:label xlink:type="resource" xlink:label="label_Tucson192AZMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Tucson192AZMember" xml:lang="en-US" id="label_Tucson192AZMember">Represents the information pertaining to 192 Tucson, AZ.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tucson192AZMember" xlink:to="label_Tucson192AZMember" xlink:title="label: Tucson192AZMember to label_Tucson192AZMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Tucson192AZMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Tucson192AZMember" xml:lang="en-US" id="label_Tucson192AZMember_2">Tucson 192 AZ [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tucson192AZMember" xlink:to="label_Tucson192AZMember_2" xlink:title="label: Tucson192AZMember to label_Tucson192AZMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Tucson192AZMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Tucson192AZMember" xml:lang="en-US" id="label_Tucson192AZMember_3">192 Tucson, AZ</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tucson192AZMember" xlink:to="label_Tucson192AZMember_3" xlink:title="label: Tucson192AZMember to label_Tucson192AZMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd#stpr_AllStatesAndProvincesDomain" xlink:label="AllStatesAndProvincesDomain" xlink:title="AllStatesAndProvincesDomain" />
    <link:label xlink:type="resource" xlink:label="label_AllStatesAndProvincesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AllStatesAndProvincesDomain" xml:lang="en-US" id="label_AllStatesAndProvincesDomain">All States and Provinces [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllStatesAndProvincesDomain" xlink:to="label_AllStatesAndProvincesDomain" xlink:title="label: AllStatesAndProvincesDomain to label_AllStatesAndProvincesDomain" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Tyler209TXMember" xlink:label="Tyler209TXMember" xlink:title="Tyler209TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Tyler209TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Tyler209TXMember" xml:lang="en-US" id="label_Tyler209TXMember">Represents the information pertaining to 209 Tyler, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tyler209TXMember" xlink:to="label_Tyler209TXMember" xlink:title="label: Tyler209TXMember to label_Tyler209TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Tyler209TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Tyler209TXMember" xml:lang="en-US" id="label_Tyler209TXMember_2">Tyler 209 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tyler209TXMember" xlink:to="label_Tyler209TXMember_2" xlink:title="label: Tyler209TXMember to label_Tyler209TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Tyler209TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Tyler209TXMember" xml:lang="en-US" id="label_Tyler209TXMember_3">209 Tyler, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tyler209TXMember" xlink:to="label_Tyler209TXMember_3" xlink:title="label: Tyler209TXMember to label_Tyler209TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Wooster223OHMember" xlink:label="Wooster223OHMember" xlink:title="Wooster223OHMember" />
    <link:label xlink:type="resource" xlink:label="label_Wooster223OHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Wooster223OHMember" xml:lang="en-US" id="label_Wooster223OHMember">Represents the information pertaining to 223 Wooster, OH.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Wooster223OHMember" xlink:to="label_Wooster223OHMember" xlink:title="label: Wooster223OHMember to label_Wooster223OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Wooster223OHMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Wooster223OHMember" xml:lang="en-US" id="label_Wooster223OHMember_2">Wooster 223 OH [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Wooster223OHMember" xlink:to="label_Wooster223OHMember_2" xlink:title="label: Wooster223OHMember to label_Wooster223OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Wooster223OHMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Wooster223OHMember" xml:lang="en-US" id="label_Wooster223OHMember_3">223 Wooster, OH</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Wooster223OHMember" xlink:to="label_Wooster223OHMember_3" xlink:title="label: Wooster223OHMember to label_Wooster223OHMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Ada077OKMember" xlink:label="Ada077OKMember" xlink:title="Ada077OKMember" />
    <link:label xlink:type="resource" xlink:label="label_Ada077OKMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Ada077OKMember" xml:lang="en-US" id="label_Ada077OKMember">Represents the information pertaining to 077 Ada, OK.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Ada077OKMember" xlink:to="label_Ada077OKMember" xlink:title="label: Ada077OKMember to label_Ada077OKMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Ada077OKMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Ada077OKMember" xml:lang="en-US" id="label_Ada077OKMember_2">Ada 077 OK [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Ada077OKMember" xlink:to="label_Ada077OKMember_2" xlink:title="label: Ada077OKMember to label_Ada077OKMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Ada077OKMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Ada077OKMember" xml:lang="en-US" id="label_Ada077OKMember_3">077 Ada, OK</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Ada077OKMember" xlink:to="label_Ada077OKMember_3" xlink:title="label: Ada077OKMember to label_Ada077OKMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Arlington136OHMember" xlink:label="Arlington136OHMember" xlink:title="Arlington136OHMember" />
    <link:label xlink:type="resource" xlink:label="label_Arlington136OHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Arlington136OHMember" xml:lang="en-US" id="label_Arlington136OHMember">Represents the information pertaining to 136 Arlington, OH.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Arlington136OHMember" xlink:to="label_Arlington136OHMember" xlink:title="label: Arlington136OHMember to label_Arlington136OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Arlington136OHMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Arlington136OHMember" xml:lang="en-US" id="label_Arlington136OHMember_2">Arlington 136 OH [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Arlington136OHMember" xlink:to="label_Arlington136OHMember_2" xlink:title="label: Arlington136OHMember to label_Arlington136OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Arlington136OHMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Arlington136OHMember" xml:lang="en-US" id="label_Arlington136OHMember_3">136 Arlington, OH</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Arlington136OHMember" xlink:to="label_Arlington136OHMember_3" xlink:title="label: Arlington136OHMember to label_Arlington136OHMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Arvada105COMember" xlink:label="Arvada105COMember" xlink:title="Arvada105COMember" />
    <link:label xlink:type="resource" xlink:label="label_Arvada105COMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Arvada105COMember" xml:lang="en-US" id="label_Arvada105COMember">Represents the information pertaining to 105 Arvada, CO.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Arvada105COMember" xlink:to="label_Arvada105COMember" xlink:title="label: Arvada105COMember to label_Arvada105COMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Arvada105COMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Arvada105COMember" xml:lang="en-US" id="label_Arvada105COMember_2">Arvada 105 CO [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Arvada105COMember" xlink:to="label_Arvada105COMember_2" xlink:title="label: Arvada105COMember to label_Arvada105COMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Arvada105COMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Arvada105COMember" xml:lang="en-US" id="label_Arvada105COMember_3">105 Arvada, CO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Arvada105COMember" xlink:to="label_Arvada105COMember_3" xlink:title="label: Arvada105COMember to label_Arvada105COMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Athens063TXMember" xlink:label="Athens063TXMember" xlink:title="Athens063TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Athens063TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Athens063TXMember" xml:lang="en-US" id="label_Athens063TXMember">Represents the information pertaining to 063 Athens, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Athens063TXMember" xlink:to="label_Athens063TXMember" xlink:title="label: Athens063TXMember to label_Athens063TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Athens063TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Athens063TXMember" xml:lang="en-US" id="label_Athens063TXMember_2">Athens 063 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Athens063TXMember" xlink:to="label_Athens063TXMember_2" xlink:title="label: Athens063TXMember to label_Athens063TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Athens063TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Athens063TXMember" xml:lang="en-US" id="label_Athens063TXMember_3">063 Athens, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Athens063TXMember" xlink:to="label_Athens063TXMember_3" xlink:title="label: Athens063TXMember to label_Athens063TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Bakersfield203CAMember" xlink:label="Bakersfield203CAMember" xlink:title="Bakersfield203CAMember" />
    <link:label xlink:type="resource" xlink:label="label_Bakersfield203CAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Bakersfield203CAMember" xml:lang="en-US" id="label_Bakersfield203CAMember">Represents the information pertaining to 203 Bakersfield, CA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Bakersfield203CAMember" xlink:to="label_Bakersfield203CAMember" xlink:title="label: Bakersfield203CAMember to label_Bakersfield203CAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Bakersfield203CAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Bakersfield203CAMember" xml:lang="en-US" id="label_Bakersfield203CAMember_2">Bakersfield 203 CA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Bakersfield203CAMember" xlink:to="label_Bakersfield203CAMember_2" xlink:title="label: Bakersfield203CAMember to label_Bakersfield203CAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Bakersfield203CAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Bakersfield203CAMember" xml:lang="en-US" id="label_Bakersfield203CAMember_3">203 Bakersfield, CA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Bakersfield203CAMember" xlink:to="label_Bakersfield203CAMember_3" xlink:title="label: Bakersfield203CAMember to label_Bakersfield203CAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Battleground072WAMember" xlink:label="Battleground072WAMember" xlink:title="Battleground072WAMember" />
    <link:label xlink:type="resource" xlink:label="label_Battleground072WAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Battleground072WAMember" xml:lang="en-US" id="label_Battleground072WAMember">Represents the information pertaining to 072 Battleground, WA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Battleground072WAMember" xlink:to="label_Battleground072WAMember" xlink:title="label: Battleground072WAMember to label_Battleground072WAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Battleground072WAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Battleground072WAMember" xml:lang="en-US" id="label_Battleground072WAMember_2">Battleground 072 WA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Battleground072WAMember" xlink:to="label_Battleground072WAMember_2" xlink:title="label: Battleground072WAMember to label_Battleground072WAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Battleground072WAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Battleground072WAMember" xml:lang="en-US" id="label_Battleground072WAMember_3">072 Battleground, WA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Battleground072WAMember" xlink:to="label_Battleground072WAMember_3" xlink:title="label: Battleground072WAMember to label_Battleground072WAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Beatrice117NEMember" xlink:label="Beatrice117NEMember" xlink:title="Beatrice117NEMember" />
    <link:label xlink:type="resource" xlink:label="label_Beatrice117NEMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Beatrice117NEMember" xml:lang="en-US" id="label_Beatrice117NEMember">Represents the information pertaining to 117 Beatrice, NE.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Beatrice117NEMember" xlink:to="label_Beatrice117NEMember" xlink:title="label: Beatrice117NEMember to label_Beatrice117NEMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Beatrice117NEMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Beatrice117NEMember" xml:lang="en-US" id="label_Beatrice117NEMember_2">Beatrice 117 NE [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Beatrice117NEMember" xlink:to="label_Beatrice117NEMember_2" xlink:title="label: Beatrice117NEMember to label_Beatrice117NEMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Beatrice117NEMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Beatrice117NEMember" xml:lang="en-US" id="label_Beatrice117NEMember_3">117 Beatrice, NE</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Beatrice117NEMember" xlink:to="label_Beatrice117NEMember_3" xlink:title="label: Beatrice117NEMember to label_Beatrice117NEMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Bexley137OHMember" xlink:label="Bexley137OHMember" xlink:title="Bexley137OHMember" />
    <link:label xlink:type="resource" xlink:label="label_Bexley137OHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Bexley137OHMember" xml:lang="en-US" id="label_Bexley137OHMember">Represents the information pertaining to 137 Bexley, OH.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Bexley137OHMember" xlink:to="label_Bexley137OHMember" xlink:title="label: Bexley137OHMember to label_Bexley137OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Bexley137OHMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Bexley137OHMember" xml:lang="en-US" id="label_Bexley137OHMember_2">Bexley 137 OH [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Bexley137OHMember" xlink:to="label_Bexley137OHMember_2" xlink:title="label: Bexley137OHMember to label_Bexley137OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Bexley137OHMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Bexley137OHMember" xml:lang="en-US" id="label_Bexley137OHMember_3">137 Bexley, OH</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Bexley137OHMember" xlink:to="label_Bexley137OHMember_3" xlink:title="label: Bexley137OHMember to label_Bexley137OHMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_BullheadCity106AZMember" xlink:label="BullheadCity106AZMember" xlink:title="BullheadCity106AZMember" />
    <link:label xlink:type="resource" xlink:label="label_BullheadCity106AZMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BullheadCity106AZMember" xml:lang="en-US" id="label_BullheadCity106AZMember">Represents the information pertaining to 106 Bullhead City, AZ.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BullheadCity106AZMember" xlink:to="label_BullheadCity106AZMember" xlink:title="label: BullheadCity106AZMember to label_BullheadCity106AZMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BullheadCity106AZMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BullheadCity106AZMember" xml:lang="en-US" id="label_BullheadCity106AZMember_2">Bullhead City 106 AZ [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BullheadCity106AZMember" xlink:to="label_BullheadCity106AZMember_2" xlink:title="label: BullheadCity106AZMember to label_BullheadCity106AZMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BullheadCity106AZMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BullheadCity106AZMember" xml:lang="en-US" id="label_BullheadCity106AZMember_3">106 Bullhead City, AZ</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BullheadCity106AZMember" xlink:to="label_BullheadCity106AZMember_3" xlink:title="label: BullheadCity106AZMember to label_BullheadCity106AZMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Burley111IDMember" xlink:label="Burley111IDMember" xlink:title="Burley111IDMember" />
    <link:label xlink:type="resource" xlink:label="label_Burley111IDMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Burley111IDMember" xml:lang="en-US" id="label_Burley111IDMember">Represents the information pertaining to 111 Burley, ID.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Burley111IDMember" xlink:to="label_Burley111IDMember" xlink:title="label: Burley111IDMember to label_Burley111IDMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Burley111IDMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Burley111IDMember" xml:lang="en-US" id="label_Burley111IDMember_2">Burley 111 ID [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Burley111IDMember" xlink:to="label_Burley111IDMember_2" xlink:title="label: Burley111IDMember to label_Burley111IDMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Burley111IDMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Burley111IDMember" xml:lang="en-US" id="label_Burley111IDMember_3">111 Burley, ID</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Burley111IDMember" xlink:to="label_Burley111IDMember_3" xlink:title="label: Burley111IDMember to label_Burley111IDMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Caldwell112IDMember" xlink:label="Caldwell112IDMember" xlink:title="Caldwell112IDMember" />
    <link:label xlink:type="resource" xlink:label="label_Caldwell112IDMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Caldwell112IDMember" xml:lang="en-US" id="label_Caldwell112IDMember">Represents the information pertaining to 112 Caldwell, ID.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Caldwell112IDMember" xlink:to="label_Caldwell112IDMember" xlink:title="label: Caldwell112IDMember to label_Caldwell112IDMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Caldwell112IDMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Caldwell112IDMember" xml:lang="en-US" id="label_Caldwell112IDMember_2">Caldwell 112 ID [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Caldwell112IDMember" xlink:to="label_Caldwell112IDMember_2" xlink:title="label: Caldwell112IDMember to label_Caldwell112IDMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Caldwell112IDMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Caldwell112IDMember" xml:lang="en-US" id="label_Caldwell112IDMember_3">112 Caldwell, ID</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Caldwell112IDMember" xlink:to="label_Caldwell112IDMember_3" xlink:title="label: Caldwell112IDMember to label_Caldwell112IDMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Camas024WAMember" xlink:label="Camas024WAMember" xlink:title="Camas024WAMember" />
    <link:label xlink:type="resource" xlink:label="label_Camas024WAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Camas024WAMember" xml:lang="en-US" id="label_Camas024WAMember">Represents the information pertaining to 024 Camas, WA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Camas024WAMember" xlink:to="label_Camas024WAMember" xlink:title="label: Camas024WAMember to label_Camas024WAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Camas024WAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Camas024WAMember" xml:lang="en-US" id="label_Camas024WAMember_2">Camas 024 WA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Camas024WAMember" xlink:to="label_Camas024WAMember_2" xlink:title="label: Camas024WAMember to label_Camas024WAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Camas024WAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Camas024WAMember" xml:lang="en-US" id="label_Camas024WAMember_3">024 Camas, WA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Camas024WAMember" xlink:to="label_Camas024WAMember_3" xlink:title="label: Camas024WAMember to label_Camas024WAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Central160SCMember" xlink:label="Central160SCMember" xlink:title="Central160SCMember" />
    <link:label xlink:type="resource" xlink:label="label_Central160SCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Central160SCMember" xml:lang="en-US" id="label_Central160SCMember">Represents the information pertaining to 160 Central, SC.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Central160SCMember" xlink:to="label_Central160SCMember" xlink:title="label: Central160SCMember to label_Central160SCMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Central160SCMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Central160SCMember" xml:lang="en-US" id="label_Central160SCMember_2">Central 160 SC [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Central160SCMember" xlink:to="label_Central160SCMember_2" xlink:title="label: Central160SCMember to label_Central160SCMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Central160SCMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Central160SCMember" xml:lang="en-US" id="label_Central160SCMember_3">160 Central, SC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Central160SCMember" xlink:to="label_Central160SCMember_3" xlink:title="label: Central160SCMember to label_Central160SCMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DaytonaBeach240FLMember" xlink:label="DaytonaBeach240FLMember" xlink:title="DaytonaBeach240FLMember" />
    <link:label xlink:type="resource" xlink:label="label_DaytonaBeach240FLMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DaytonaBeach240FLMember" xml:lang="en-US" id="label_DaytonaBeach240FLMember">Represents the information pertaining to 240 Daytona Beach, FL.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DaytonaBeach240FLMember" xlink:to="label_DaytonaBeach240FLMember" xlink:title="label: DaytonaBeach240FLMember to label_DaytonaBeach240FLMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DaytonaBeach240FLMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DaytonaBeach240FLMember" xml:lang="en-US" id="label_DaytonaBeach240FLMember_2">Daytona Beach 240 FL [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DaytonaBeach240FLMember" xlink:to="label_DaytonaBeach240FLMember_2" xlink:title="label: DaytonaBeach240FLMember to label_DaytonaBeach240FLMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DaytonaBeach240FLMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DaytonaBeach240FLMember" xml:lang="en-US" id="label_DaytonaBeach240FLMember_3">240 Daytona Beach, FL</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DaytonaBeach240FLMember" xlink:to="label_DaytonaBeach240FLMember_3" xlink:title="label: DaytonaBeach240FLMember to label_DaytonaBeach240FLMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Denison156IAMember" xlink:label="Denison156IAMember" xlink:title="Denison156IAMember" />
    <link:label xlink:type="resource" xlink:label="label_Denison156IAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Denison156IAMember" xml:lang="en-US" id="label_Denison156IAMember">Represents the information pertaining to 156 Denison, IA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Denison156IAMember" xlink:to="label_Denison156IAMember" xlink:title="label: Denison156IAMember to label_Denison156IAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Denison156IAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Denison156IAMember" xml:lang="en-US" id="label_Denison156IAMember_2">Denison 156 IA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Denison156IAMember" xlink:to="label_Denison156IAMember_2" xlink:title="label: Denison156IAMember to label_Denison156IAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Denison156IAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Denison156IAMember" xml:lang="en-US" id="label_Denison156IAMember_3">156 Denison, IA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Denison156IAMember" xlink:to="label_Denison156IAMember_3" xlink:title="label: Denison156IAMember to label_Denison156IAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DodgeCity057KSMember" xlink:label="DodgeCity057KSMember" xlink:title="DodgeCity057KSMember" />
    <link:label xlink:type="resource" xlink:label="label_DodgeCity057KSMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DodgeCity057KSMember" xml:lang="en-US" id="label_DodgeCity057KSMember">Represents the information pertaining to 057 Dodge City, KS.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DodgeCity057KSMember" xlink:to="label_DodgeCity057KSMember" xlink:title="label: DodgeCity057KSMember to label_DodgeCity057KSMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DodgeCity057KSMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DodgeCity057KSMember" xml:lang="en-US" id="label_DodgeCity057KSMember_2">Dodge City 057 KS [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DodgeCity057KSMember" xlink:to="label_DodgeCity057KSMember_2" xlink:title="label: DodgeCity057KSMember to label_DodgeCity057KSMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DodgeCity057KSMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DodgeCity057KSMember" xml:lang="en-US" id="label_DodgeCity057KSMember_3">057 Dodge City, KS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DodgeCity057KSMember" xlink:to="label_DodgeCity057KSMember_3" xlink:title="label: DodgeCity057KSMember to label_DodgeCity057KSMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Durant083OKMember" xlink:label="Durant083OKMember" xlink:title="Durant083OKMember" />
    <link:label xlink:type="resource" xlink:label="label_Durant083OKMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Durant083OKMember" xml:lang="en-US" id="label_Durant083OKMember">Represents the information pertaining to 083 Durant, OK.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Durant083OKMember" xlink:to="label_Durant083OKMember" xlink:title="label: Durant083OKMember to label_Durant083OKMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Durant083OKMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Durant083OKMember" xml:lang="en-US" id="label_Durant083OKMember_2">Durant 083 OK [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Durant083OKMember" xlink:to="label_Durant083OKMember_2" xlink:title="label: Durant083OKMember to label_Durant083OKMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Durant083OKMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Durant083OKMember" xml:lang="en-US" id="label_Durant083OKMember_3">083 Durant, OK</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Durant083OKMember" xlink:to="label_Durant083OKMember_3" xlink:title="label: Durant083OKMember to label_Durant083OKMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Edmond107OKMember" xlink:label="Edmond107OKMember" xlink:title="Edmond107OKMember" />
    <link:label xlink:type="resource" xlink:label="label_Edmond107OKMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Edmond107OKMember" xml:lang="en-US" id="label_Edmond107OKMember">Represents the information pertaining to 107 Edmond, OK.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Edmond107OKMember" xlink:to="label_Edmond107OKMember" xlink:title="label: Edmond107OKMember to label_Edmond107OKMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Edmond107OKMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Edmond107OKMember" xml:lang="en-US" id="label_Edmond107OKMember_2">Edmond 107 OK [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Edmond107OKMember" xlink:to="label_Edmond107OKMember_2" xlink:title="label: Edmond107OKMember to label_Edmond107OKMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Edmond107OKMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Edmond107OKMember" xml:lang="en-US" id="label_Edmond107OKMember_3">107 Edmond, OK</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Edmond107OKMember" xlink:to="label_Edmond107OKMember_3" xlink:title="label: Edmond107OKMember to label_Edmond107OKMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Elkhart122INMember" xlink:label="Elkhart122INMember" xlink:title="Elkhart122INMember" />
    <link:label xlink:type="resource" xlink:label="label_Elkhart122INMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Elkhart122INMember" xml:lang="en-US" id="label_Elkhart122INMember">Represents the information pertaining to 122 Elkhart, IN.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Elkhart122INMember" xlink:to="label_Elkhart122INMember" xlink:title="label: Elkhart122INMember to label_Elkhart122INMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Elkhart122INMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Elkhart122INMember" xml:lang="en-US" id="label_Elkhart122INMember_2">Elkhart 122 IN [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Elkhart122INMember" xlink:to="label_Elkhart122INMember_2" xlink:title="label: Elkhart122INMember to label_Elkhart122INMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Elkhart122INMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Elkhart122INMember" xml:lang="en-US" id="label_Elkhart122INMember_3">122 Elkhart, IN</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Elkhart122INMember" xlink:to="label_Elkhart122INMember_3" xlink:title="label: Elkhart122INMember to label_Elkhart122INMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Erie155PAMember" xlink:label="Erie155PAMember" xlink:title="Erie155PAMember" />
    <link:label xlink:type="resource" xlink:label="label_Erie155PAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Erie155PAMember" xml:lang="en-US" id="label_Erie155PAMember">Represents the information pertaining to 155 Erie, PA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Erie155PAMember" xlink:to="label_Erie155PAMember" xlink:title="label: Erie155PAMember to label_Erie155PAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Erie155PAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Erie155PAMember" xml:lang="en-US" id="label_Erie155PAMember_2">Erie 155 PA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Erie155PAMember" xlink:to="label_Erie155PAMember_2" xlink:title="label: Erie155PAMember to label_Erie155PAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Erie155PAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Erie155PAMember" xml:lang="en-US" id="label_Erie155PAMember_3">155 Erie, PA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Erie155PAMember" xlink:to="label_Erie155PAMember_3" xlink:title="label: Erie155PAMember to label_Erie155PAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Eugene113ORMember" xlink:label="Eugene113ORMember" xlink:title="Eugene113ORMember" />
    <link:label xlink:type="resource" xlink:label="label_Eugene113ORMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Eugene113ORMember" xml:lang="en-US" id="label_Eugene113ORMember">Represents the information pertaining to 113 Eugene, OR.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Eugene113ORMember" xlink:to="label_Eugene113ORMember" xlink:title="label: Eugene113ORMember to label_Eugene113ORMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Eugene113ORMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Eugene113ORMember" xml:lang="en-US" id="label_Eugene113ORMember_2">Eugene 113 OR [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Eugene113ORMember" xlink:to="label_Eugene113ORMember_2" xlink:title="label: Eugene113ORMember to label_Eugene113ORMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Eugene113ORMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Eugene113ORMember" xml:lang="en-US" id="label_Eugene113ORMember_3">113 Eugene, OR</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Eugene113ORMember" xlink:to="label_Eugene113ORMember_3" xlink:title="label: Eugene113ORMember to label_Eugene113ORMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Fremont100OHMember" xlink:label="Fremont100OHMember" xlink:title="Fremont100OHMember" />
    <link:label xlink:type="resource" xlink:label="label_Fremont100OHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Fremont100OHMember" xml:lang="en-US" id="label_Fremont100OHMember">Represents the information pertaining to 100 Fremont ,OH.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Fremont100OHMember" xlink:to="label_Fremont100OHMember" xlink:title="label: Fremont100OHMember to label_Fremont100OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Fremont100OHMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Fremont100OHMember" xml:lang="en-US" id="label_Fremont100OHMember_2">Fremont 100 OH [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Fremont100OHMember" xlink:to="label_Fremont100OHMember_2" xlink:title="label: Fremont100OHMember to label_Fremont100OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Fremont100OHMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Fremont100OHMember" xml:lang="en-US" id="label_Fremont100OHMember_3">100 Fremont ,OH</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Fremont100OHMember" xlink:to="label_Fremont100OHMember_3" xlink:title="label: Fremont100OHMember to label_Fremont100OHMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_FtCollins163COMember" xlink:label="FtCollins163COMember" xlink:title="FtCollins163COMember" />
    <link:label xlink:type="resource" xlink:label="label_FtCollins163COMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FtCollins163COMember" xml:lang="en-US" id="label_FtCollins163COMember">Represents the information pertaining to 163 Ft. Collins, CO.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FtCollins163COMember" xlink:to="label_FtCollins163COMember" xlink:title="label: FtCollins163COMember to label_FtCollins163COMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_FtCollins163COMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FtCollins163COMember" xml:lang="en-US" id="label_FtCollins163COMember_2">Ft Collins 163 CO [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FtCollins163COMember" xlink:to="label_FtCollins163COMember_2" xlink:title="label: FtCollins163COMember to label_FtCollins163COMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_FtCollins163COMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FtCollins163COMember" xml:lang="en-US" id="label_FtCollins163COMember_3">163 Ft. Collins, CO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FtCollins163COMember" xlink:to="label_FtCollins163COMember_3" xlink:title="label: FtCollins163COMember to label_FtCollins163COMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_FtCollins170COMember" xlink:label="FtCollins170COMember" xlink:title="FtCollins170COMember" />
    <link:label xlink:type="resource" xlink:label="label_FtCollins170COMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FtCollins170COMember" xml:lang="en-US" id="label_FtCollins170COMember">Represents the information pertaining to 170 Ft. Collins, CO.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FtCollins170COMember" xlink:to="label_FtCollins170COMember" xlink:title="label: FtCollins170COMember to label_FtCollins170COMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_FtCollins170COMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FtCollins170COMember" xml:lang="en-US" id="label_FtCollins170COMember_2">Ft Collins 170 CO [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FtCollins170COMember" xlink:to="label_FtCollins170COMember_2" xlink:title="label: FtCollins170COMember to label_FtCollins170COMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_FtCollins170COMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FtCollins170COMember" xml:lang="en-US" id="label_FtCollins170COMember_3">170 Ft. Collins, CO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FtCollins170COMember" xlink:to="label_FtCollins170COMember_3" xlink:title="label: FtCollins170COMember to label_FtCollins170COMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="AccountingPoliciesAbstract" xlink:title="AccountingPoliciesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_AccountingPoliciesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccountingPoliciesAbstract" xml:lang="en-US" id="label_AccountingPoliciesAbstract">Summary of Significant Accounting Policies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccountingPoliciesAbstract" xlink:to="label_AccountingPoliciesAbstract" xlink:title="label: AccountingPoliciesAbstract to label_AccountingPoliciesAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_FtMeyers132FLMember" xlink:label="FtMeyers132FLMember" xlink:title="FtMeyers132FLMember" />
    <link:label xlink:type="resource" xlink:label="label_FtMeyers132FLMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FtMeyers132FLMember" xml:lang="en-US" id="label_FtMeyers132FLMember">Represents the information pertaining to 132 Ft. Meyers, FL.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FtMeyers132FLMember" xlink:to="label_FtMeyers132FLMember" xlink:title="label: FtMeyers132FLMember to label_FtMeyers132FLMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_FtMeyers132FLMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FtMeyers132FLMember" xml:lang="en-US" id="label_FtMeyers132FLMember_2">Ft Meyers 132 FL [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FtMeyers132FLMember" xlink:to="label_FtMeyers132FLMember_2" xlink:title="label: FtMeyers132FLMember to label_FtMeyers132FLMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_FtMeyers132FLMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FtMeyers132FLMember" xml:lang="en-US" id="label_FtMeyers132FLMember_3">132 Ft. Meyers, FL</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FtMeyers132FLMember" xlink:to="label_FtMeyers132FLMember_3" xlink:title="label: FtMeyers132FLMember to label_FtMeyers132FLMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_FtWayne230INMember" xlink:label="FtWayne230INMember" xlink:title="FtWayne230INMember" />
    <link:label xlink:type="resource" xlink:label="label_FtWayne230INMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FtWayne230INMember" xml:lang="en-US" id="label_FtWayne230INMember">Represents the information pertaining to 230 Ft. Wayne, IN.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FtWayne230INMember" xlink:to="label_FtWayne230INMember" xlink:title="label: FtWayne230INMember to label_FtWayne230INMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_FtWayne230INMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FtWayne230INMember" xml:lang="en-US" id="label_FtWayne230INMember_2">Ft Wayne 230 IN [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FtWayne230INMember" xlink:to="label_FtWayne230INMember_2" xlink:title="label: FtWayne230INMember to label_FtWayne230INMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_FtWayne230INMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FtWayne230INMember" xml:lang="en-US" id="label_FtWayne230INMember_3">230 Ft. Wayne, IN</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FtWayne230INMember" xlink:to="label_FtWayne230INMember_3" xlink:title="label: FtWayne230INMember to label_FtWayne230INMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="EntityWellKnownSeasonedIssuer" xlink:title="EntityWellKnownSeasonedIssuer" />
    <link:label xlink:type="resource" xlink:label="label_EntityWellKnownSeasonedIssuer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityWellKnownSeasonedIssuer" xml:lang="en-US" id="label_EntityWellKnownSeasonedIssuer">Entity Well-known Seasoned Issuer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityWellKnownSeasonedIssuer" xlink:to="label_EntityWellKnownSeasonedIssuer" xlink:title="label: EntityWellKnownSeasonedIssuer to label_EntityWellKnownSeasonedIssuer" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Goldsboro167NCMember" xlink:label="Goldsboro167NCMember" xlink:title="Goldsboro167NCMember" />
    <link:label xlink:type="resource" xlink:label="label_Goldsboro167NCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Goldsboro167NCMember" xml:lang="en-US" id="label_Goldsboro167NCMember">Represents the information pertaining to 167 Goldsboro, NC.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Goldsboro167NCMember" xlink:to="label_Goldsboro167NCMember" xlink:title="label: Goldsboro167NCMember to label_Goldsboro167NCMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Goldsboro167NCMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Goldsboro167NCMember" xml:lang="en-US" id="label_Goldsboro167NCMember_2">Goldsboro 167 NC [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Goldsboro167NCMember" xlink:to="label_Goldsboro167NCMember_2" xlink:title="label: Goldsboro167NCMember to label_Goldsboro167NCMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Goldsboro167NCMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Goldsboro167NCMember" xml:lang="en-US" id="label_Goldsboro167NCMember_3">167 Goldsboro, NC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Goldsboro167NCMember" xlink:to="label_Goldsboro167NCMember_3" xlink:title="label: Goldsboro167NCMember to label_Goldsboro167NCMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="EntityVoluntaryFilers" xlink:title="EntityVoluntaryFilers" />
    <link:label xlink:type="resource" xlink:label="label_EntityVoluntaryFilers" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityVoluntaryFilers" xml:lang="en-US" id="label_EntityVoluntaryFilers">Entity Voluntary Filers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityVoluntaryFilers" xlink:to="label_EntityVoluntaryFilers" xlink:title="label: EntityVoluntaryFilers to label_EntityVoluntaryFilers" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Grandview022WAMember" xlink:label="Grandview022WAMember" xlink:title="Grandview022WAMember" />
    <link:label xlink:type="resource" xlink:label="label_Grandview022WAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Grandview022WAMember" xml:lang="en-US" id="label_Grandview022WAMember">Represents the information pertaining to 022 Grandview, WA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Grandview022WAMember" xlink:to="label_Grandview022WAMember" xlink:title="label: Grandview022WAMember to label_Grandview022WAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Grandview022WAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Grandview022WAMember" xml:lang="en-US" id="label_Grandview022WAMember_2">Grandview 022 WA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Grandview022WAMember" xlink:to="label_Grandview022WAMember_2" xlink:title="label: Grandview022WAMember to label_Grandview022WAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Grandview022WAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Grandview022WAMember" xml:lang="en-US" id="label_Grandview022WAMember_3">022 Grandview, WA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Grandview022WAMember" xlink:to="label_Grandview022WAMember_3" xlink:title="label: Grandview022WAMember to label_Grandview022WAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="EntityCurrentReportingStatus" xlink:title="EntityCurrentReportingStatus" />
    <link:label xlink:type="resource" xlink:label="label_EntityCurrentReportingStatus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityCurrentReportingStatus" xml:lang="en-US" id="label_EntityCurrentReportingStatus">Entity Current Reporting Status</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityCurrentReportingStatus" xlink:to="label_EntityCurrentReportingStatus" xlink:title="label: EntityCurrentReportingStatus to label_EntityCurrentReportingStatus" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_GreatBend056KSMember" xlink:label="GreatBend056KSMember" xlink:title="GreatBend056KSMember" />
    <link:label xlink:type="resource" xlink:label="label_GreatBend056KSMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_GreatBend056KSMember" xml:lang="en-US" id="label_GreatBend056KSMember">Represents the information pertaining to 056 Great Bend, KS.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GreatBend056KSMember" xlink:to="label_GreatBend056KSMember" xlink:title="label: GreatBend056KSMember to label_GreatBend056KSMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_GreatBend056KSMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GreatBend056KSMember" xml:lang="en-US" id="label_GreatBend056KSMember_2">Great Bend 056 KS [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GreatBend056KSMember" xlink:to="label_GreatBend056KSMember_2" xlink:title="label: GreatBend056KSMember to label_GreatBend056KSMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_GreatBend056KSMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GreatBend056KSMember" xml:lang="en-US" id="label_GreatBend056KSMember_3">056 Great Bend, KS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GreatBend056KSMember" xlink:to="label_GreatBend056KSMember_3" xlink:title="label: GreatBend056KSMember to label_GreatBend056KSMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityFilerCategory" xlink:label="EntityFilerCategory" xlink:title="EntityFilerCategory" />
    <link:label xlink:type="resource" xlink:label="label_EntityFilerCategory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityFilerCategory" xml:lang="en-US" id="label_EntityFilerCategory">Entity Filer Category</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityFilerCategory" xlink:to="label_EntityFilerCategory" xlink:title="label: EntityFilerCategory to label_EntityFilerCategory" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Greeley102COMember" xlink:label="Greeley102COMember" xlink:title="Greeley102COMember" />
    <link:label xlink:type="resource" xlink:label="label_Greeley102COMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Greeley102COMember" xml:lang="en-US" id="label_Greeley102COMember">Represents the information pertaining to 102 Greeley, CO.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Greeley102COMember" xlink:to="label_Greeley102COMember" xlink:title="label: Greeley102COMember to label_Greeley102COMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Greeley102COMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Greeley102COMember" xml:lang="en-US" id="label_Greeley102COMember_2">Greeley 102 CO [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Greeley102COMember" xlink:to="label_Greeley102COMember_2" xlink:title="label: Greeley102COMember to label_Greeley102COMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Greeley102COMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Greeley102COMember" xml:lang="en-US" id="label_Greeley102COMember_3">102 Greeley, CO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Greeley102COMember" xlink:to="label_Greeley102COMember_3" xlink:title="label: Greeley102COMember to label_Greeley102COMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityPublicFloat" xlink:label="EntityPublicFloat" xlink:title="EntityPublicFloat" />
    <link:label xlink:type="resource" xlink:label="label_EntityPublicFloat" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityPublicFloat" xml:lang="en-US" id="label_EntityPublicFloat">Entity Public Float</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityPublicFloat" xlink:to="label_EntityPublicFloat" xlink:title="label: EntityPublicFloat to label_EntityPublicFloat" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Greenville164NCMember" xlink:label="Greenville164NCMember" xlink:title="Greenville164NCMember" />
    <link:label xlink:type="resource" xlink:label="label_Greenville164NCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Greenville164NCMember" xml:lang="en-US" id="label_Greenville164NCMember">Represents the information pertaining to 164 Greenville, NC.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Greenville164NCMember" xlink:to="label_Greenville164NCMember" xlink:title="label: Greenville164NCMember to label_Greenville164NCMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Greenville164NCMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Greenville164NCMember" xml:lang="en-US" id="label_Greenville164NCMember_2">Greenville 164 NC [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Greenville164NCMember" xlink:to="label_Greenville164NCMember_2" xlink:title="label: Greenville164NCMember to label_Greenville164NCMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Greenville164NCMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Greenville164NCMember" xml:lang="en-US" id="label_Greenville164NCMember_3">164 Greenville, NC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Greenville164NCMember" xlink:to="label_Greenville164NCMember_3" xlink:title="label: Greenville164NCMember to label_Greenville164NCMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityRegistrantName" xlink:label="EntityRegistrantName" xlink:title="EntityRegistrantName" />
    <link:label xlink:type="resource" xlink:label="label_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityRegistrantName" xml:lang="en-US" id="label_EntityRegistrantName">Entity Registrant Name</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityRegistrantName" xlink:to="label_EntityRegistrantName" xlink:title="label: EntityRegistrantName to label_EntityRegistrantName" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Greenville062TXMember" xlink:label="Greenville062TXMember" xlink:title="Greenville062TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Greenville062TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Greenville062TXMember" xml:lang="en-US" id="label_Greenville062TXMember">Represents the information pertaining to 062 Greenville, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Greenville062TXMember" xlink:to="label_Greenville062TXMember" xlink:title="label: Greenville062TXMember to label_Greenville062TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Greenville062TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Greenville062TXMember" xml:lang="en-US" id="label_Greenville062TXMember_2">Greenville 062 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Greenville062TXMember" xlink:to="label_Greenville062TXMember_2" xlink:title="label: Greenville062TXMember to label_Greenville062TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Greenville062TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Greenville062TXMember" xml:lang="en-US" id="label_Greenville062TXMember_3">062 Greenville, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Greenville062TXMember" xlink:to="label_Greenville062TXMember_3" xlink:title="label: Greenville062TXMember to label_Greenville062TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="EntityCentralIndexKey" xlink:title="EntityCentralIndexKey" />
    <link:label xlink:type="resource" xlink:label="label_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityCentralIndexKey" xml:lang="en-US" id="label_EntityCentralIndexKey">Entity Central Index Key</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityCentralIndexKey" xlink:to="label_EntityCentralIndexKey" xlink:title="label: EntityCentralIndexKey to label_EntityCentralIndexKey" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Greenwood161SCMember" xlink:label="Greenwood161SCMember" xlink:title="Greenwood161SCMember" />
    <link:label xlink:type="resource" xlink:label="label_Greenwood161SCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Greenwood161SCMember" xml:lang="en-US" id="label_Greenwood161SCMember">Represents the information pertaining to 161 Greenwood, SC.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Greenwood161SCMember" xlink:to="label_Greenwood161SCMember" xlink:title="label: Greenwood161SCMember to label_Greenwood161SCMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Greenwood161SCMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Greenwood161SCMember" xml:lang="en-US" id="label_Greenwood161SCMember_2">Greenwood 161 SC [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Greenwood161SCMember" xlink:to="label_Greenwood161SCMember_2" xlink:title="label: Greenwood161SCMember to label_Greenwood161SCMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Greenwood161SCMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Greenwood161SCMember" xml:lang="en-US" id="label_Greenwood161SCMember_3">161 Greenwood, SC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Greenwood161SCMember" xlink:to="label_Greenwood161SCMember_3" xlink:title="label: Greenwood161SCMember to label_Greenwood161SCMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_GulfBreeze241FLMember" xlink:label="GulfBreeze241FLMember" xlink:title="GulfBreeze241FLMember" />
    <link:label xlink:type="resource" xlink:label="label_GulfBreeze241FLMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_GulfBreeze241FLMember" xml:lang="en-US" id="label_GulfBreeze241FLMember">Represents the information pertaining to 241 Gulf Breeze, FL.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GulfBreeze241FLMember" xlink:to="label_GulfBreeze241FLMember" xlink:title="label: GulfBreeze241FLMember to label_GulfBreeze241FLMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_GulfBreeze241FLMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GulfBreeze241FLMember" xml:lang="en-US" id="label_GulfBreeze241FLMember_2">Gulf Breeze 241 FL [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GulfBreeze241FLMember" xlink:to="label_GulfBreeze241FLMember_2" xlink:title="label: GulfBreeze241FLMember to label_GulfBreeze241FLMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_GulfBreeze241FLMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GulfBreeze241FLMember" xml:lang="en-US" id="label_GulfBreeze241FLMember_3">241 Gulf Breeze, FL</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GulfBreeze241FLMember" xlink:to="label_GulfBreeze241FLMember_3" xlink:title="label: GulfBreeze241FLMember to label_GulfBreeze241FLMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Hayden079IDMember" xlink:label="Hayden079IDMember" xlink:title="Hayden079IDMember" />
    <link:label xlink:type="resource" xlink:label="label_Hayden079IDMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Hayden079IDMember" xml:lang="en-US" id="label_Hayden079IDMember">Represents the information pertaining to 079 Hayden, ID.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Hayden079IDMember" xlink:to="label_Hayden079IDMember" xlink:title="label: Hayden079IDMember to label_Hayden079IDMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Hayden079IDMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Hayden079IDMember" xml:lang="en-US" id="label_Hayden079IDMember_2">Hayden 079 ID [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Hayden079IDMember" xlink:to="label_Hayden079IDMember_2" xlink:title="label: Hayden079IDMember to label_Hayden079IDMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Hayden079IDMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Hayden079IDMember" xml:lang="en-US" id="label_Hayden079IDMember_3">079 Hayden, ID</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Hayden079IDMember" xlink:to="label_Hayden079IDMember_3" xlink:title="label: Hayden079IDMember to label_Hayden079IDMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Hoquiam097WAMember" xlink:label="Hoquiam097WAMember" xlink:title="Hoquiam097WAMember" />
    <link:label xlink:type="resource" xlink:label="label_Hoquiam097WAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Hoquiam097WAMember" xml:lang="en-US" id="label_Hoquiam097WAMember">Represents the information pertaining to 097 Hoquiam, WA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Hoquiam097WAMember" xlink:to="label_Hoquiam097WAMember" xlink:title="label: Hoquiam097WAMember to label_Hoquiam097WAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Hoquiam097WAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Hoquiam097WAMember" xml:lang="en-US" id="label_Hoquiam097WAMember_2">Hoquiam 097 WA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Hoquiam097WAMember" xlink:to="label_Hoquiam097WAMember_2" xlink:title="label: Hoquiam097WAMember to label_Hoquiam097WAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Hoquiam097WAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Hoquiam097WAMember" xml:lang="en-US" id="label_Hoquiam097WAMember_3">097 Hoquiam, WA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Hoquiam097WAMember" xlink:to="label_Hoquiam097WAMember_3" xlink:title="label: Hoquiam097WAMember to label_Hoquiam097WAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="EntityCommonStockSharesOutstanding" xlink:title="EntityCommonStockSharesOutstanding" />
    <link:label xlink:type="resource" xlink:label="label_EntityCommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityCommonStockSharesOutstanding" xml:lang="en-US" id="label_EntityCommonStockSharesOutstanding">Entity Common Stock, Shares Outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityCommonStockSharesOutstanding" xlink:to="label_EntityCommonStockSharesOutstanding" xlink:title="label: EntityCommonStockSharesOutstanding to label_EntityCommonStockSharesOutstanding" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Jacksonville066TXMember" xlink:label="Jacksonville066TXMember" xlink:title="Jacksonville066TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Jacksonville066TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Jacksonville066TXMember" xml:lang="en-US" id="label_Jacksonville066TXMember">Represents the information pertaining to 066 Jacksonville, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Jacksonville066TXMember" xlink:to="label_Jacksonville066TXMember" xlink:title="label: Jacksonville066TXMember to label_Jacksonville066TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Jacksonville066TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Jacksonville066TXMember" xml:lang="en-US" id="label_Jacksonville066TXMember_2">Jacksonville 066 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Jacksonville066TXMember" xlink:to="label_Jacksonville066TXMember_2" xlink:title="label: Jacksonville066TXMember to label_Jacksonville066TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Jacksonville066TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Jacksonville066TXMember" xml:lang="en-US" id="label_Jacksonville066TXMember_3">066 Jacksonville, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Jacksonville066TXMember" xlink:to="label_Jacksonville066TXMember_3" xlink:title="label: Jacksonville066TXMember to label_Jacksonville066TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Kelso071WAMember" xlink:label="Kelso071WAMember" xlink:title="Kelso071WAMember" />
    <link:label xlink:type="resource" xlink:label="label_Kelso071WAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Kelso071WAMember" xml:lang="en-US" id="label_Kelso071WAMember">Represents the information pertaining to 071 Kelso, WA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Kelso071WAMember" xlink:to="label_Kelso071WAMember" xlink:title="label: Kelso071WAMember to label_Kelso071WAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Kelso071WAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Kelso071WAMember" xml:lang="en-US" id="label_Kelso071WAMember_2">Kelso 071 WA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Kelso071WAMember" xlink:to="label_Kelso071WAMember_2" xlink:title="label: Kelso071WAMember to label_Kelso071WAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Kelso071WAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Kelso071WAMember" xml:lang="en-US" id="label_Kelso071WAMember_3">071 Kelso, WA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Kelso071WAMember" xlink:to="label_Kelso071WAMember_3" xlink:title="label: Kelso071WAMember to label_Kelso071WAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Kennewick021WAMember" xlink:label="Kennewick021WAMember" xlink:title="Kennewick021WAMember" />
    <link:label xlink:type="resource" xlink:label="label_Kennewick021WAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Kennewick021WAMember" xml:lang="en-US" id="label_Kennewick021WAMember">Represents the information pertaining to 021 Kennewick, WA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Kennewick021WAMember" xlink:to="label_Kennewick021WAMember" xlink:title="label: Kennewick021WAMember to label_Kennewick021WAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Kennewick021WAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Kennewick021WAMember" xml:lang="en-US" id="label_Kennewick021WAMember_2">Kennewick 021 WA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Kennewick021WAMember" xlink:to="label_Kennewick021WAMember_2" xlink:title="label: Kennewick021WAMember to label_Kennewick021WAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Kennewick021WAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Kennewick021WAMember" xml:lang="en-US" id="label_Kennewick021WAMember_3">021 Kennewick, WA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Kennewick021WAMember" xlink:to="label_Kennewick021WAMember_3" xlink:title="label: Kennewick021WAMember to label_Kennewick021WAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_KlamathFalls073ORMember" xlink:label="KlamathFalls073ORMember" xlink:title="KlamathFalls073ORMember" />
    <link:label xlink:type="resource" xlink:label="label_KlamathFalls073ORMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_KlamathFalls073ORMember" xml:lang="en-US" id="label_KlamathFalls073ORMember">Represents the information pertaining to 073 Klamath Falls, OR.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KlamathFalls073ORMember" xlink:to="label_KlamathFalls073ORMember" xlink:title="label: KlamathFalls073ORMember to label_KlamathFalls073ORMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_KlamathFalls073ORMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_KlamathFalls073ORMember" xml:lang="en-US" id="label_KlamathFalls073ORMember_2">Klamath Falls 073 OR [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KlamathFalls073ORMember" xlink:to="label_KlamathFalls073ORMember_2" xlink:title="label: KlamathFalls073ORMember to label_KlamathFalls073ORMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_KlamathFalls073ORMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_KlamathFalls073ORMember" xml:lang="en-US" id="label_KlamathFalls073ORMember_3">073 Klamath Falls, OR</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KlamathFalls073ORMember" xlink:to="label_KlamathFalls073ORMember_3" xlink:title="label: KlamathFalls073ORMember to label_KlamathFalls073ORMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LakeHavasu101AZMember" xlink:label="LakeHavasu101AZMember" xlink:title="LakeHavasu101AZMember" />
    <link:label xlink:type="resource" xlink:label="label_LakeHavasu101AZMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LakeHavasu101AZMember" xml:lang="en-US" id="label_LakeHavasu101AZMember">Represents the information pertaining to 101 Lake Havasu, AZ.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LakeHavasu101AZMember" xlink:to="label_LakeHavasu101AZMember" xlink:title="label: LakeHavasu101AZMember to label_LakeHavasu101AZMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LakeHavasu101AZMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LakeHavasu101AZMember" xml:lang="en-US" id="label_LakeHavasu101AZMember_2">Lake Havasu 101 AZ [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LakeHavasu101AZMember" xlink:to="label_LakeHavasu101AZMember_2" xlink:title="label: LakeHavasu101AZMember to label_LakeHavasu101AZMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LakeHavasu101AZMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LakeHavasu101AZMember" xml:lang="en-US" id="label_LakeHavasu101AZMember_3">101 Lake Havasu, AZ</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LakeHavasu101AZMember" xlink:to="label_LakeHavasu101AZMember_3" xlink:title="label: LakeHavasu101AZMember to label_LakeHavasu101AZMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Longmont148COMember" xlink:label="Longmont148COMember" xlink:title="Longmont148COMember" />
    <link:label xlink:type="resource" xlink:label="label_Longmont148COMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Longmont148COMember" xml:lang="en-US" id="label_Longmont148COMember">Represents the information pertaining to 148 Longmont, CO.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Longmont148COMember" xlink:to="label_Longmont148COMember" xlink:title="label: Longmont148COMember to label_Longmont148COMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Longmont148COMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Longmont148COMember" xml:lang="en-US" id="label_Longmont148COMember_2">Longmont 148 CO [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Longmont148COMember" xlink:to="label_Longmont148COMember_2" xlink:title="label: Longmont148COMember to label_Longmont148COMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Longmont148COMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Longmont148COMember" xml:lang="en-US" id="label_Longmont148COMember_3">148 Longmont, CO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Longmont148COMember" xlink:to="label_Longmont148COMember_3" xlink:title="label: Longmont148COMember to label_Longmont148COMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Longview060TXMember" xlink:label="Longview060TXMember" xlink:title="Longview060TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Longview060TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Longview060TXMember" xml:lang="en-US" id="label_Longview060TXMember">Represents the information pertaining to 060 Longview, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Longview060TXMember" xlink:to="label_Longview060TXMember" xlink:title="label: Longview060TXMember to label_Longview060TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Longview060TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Longview060TXMember" xml:lang="en-US" id="label_Longview060TXMember_2">Longview 060 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Longview060TXMember" xlink:to="label_Longview060TXMember_2" xlink:title="label: Longview060TXMember to label_Longview060TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Longview060TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Longview060TXMember" xml:lang="en-US" id="label_Longview060TXMember_3">060 Longview, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Longview060TXMember" xlink:to="label_Longview060TXMember_3" xlink:title="label: Longview060TXMember to label_Longview060TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Loveland114COMember" xlink:label="Loveland114COMember" xlink:title="Loveland114COMember" />
    <link:label xlink:type="resource" xlink:label="label_Loveland114COMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Loveland114COMember" xml:lang="en-US" id="label_Loveland114COMember">Represents the information pertaining to 114 Loveland, CO.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Loveland114COMember" xlink:to="label_Loveland114COMember" xlink:title="label: Loveland114COMember to label_Loveland114COMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Loveland114COMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Loveland114COMember" xml:lang="en-US" id="label_Loveland114COMember_2">Loveland 114 CO [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Loveland114COMember" xlink:to="label_Loveland114COMember_2" xlink:title="label: Loveland114COMember to label_Loveland114COMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Loveland114COMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Loveland114COMember" xml:lang="en-US" id="label_Loveland114COMember_3">114 Loveland, CO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Loveland114COMember" xlink:to="label_Loveland114COMember_3" xlink:title="label: Loveland114COMember to label_Loveland114COMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Lufkin068TXMember" xlink:label="Lufkin068TXMember" xlink:title="Lufkin068TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Lufkin068TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Lufkin068TXMember" xml:lang="en-US" id="label_Lufkin068TXMember">Represents the information pertaining to 068 Lufkin, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Lufkin068TXMember" xlink:to="label_Lufkin068TXMember" xlink:title="label: Lufkin068TXMember to label_Lufkin068TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Lufkin068TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Lufkin068TXMember" xml:lang="en-US" id="label_Lufkin068TXMember_2">Lufkin 068 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Lufkin068TXMember" xlink:to="label_Lufkin068TXMember_2" xlink:title="label: Lufkin068TXMember to label_Lufkin068TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Lufkin068TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Lufkin068TXMember" xml:lang="en-US" id="label_Lufkin068TXMember_3">068 Lufkin, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Lufkin068TXMember" xlink:to="label_Lufkin068TXMember_3" xlink:title="label: Lufkin068TXMember to label_Lufkin068TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Madison119INMember" xlink:label="Madison119INMember" xlink:title="Madison119INMember" />
    <link:label xlink:type="resource" xlink:label="label_Madison119INMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Madison119INMember" xml:lang="en-US" id="label_Madison119INMember">Represents the information pertaining to 119 Madison, IN.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Madison119INMember" xlink:to="label_Madison119INMember" xlink:title="label: Madison119INMember to label_Madison119INMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Madison119INMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Madison119INMember" xml:lang="en-US" id="label_Madison119INMember_2">Madison 119 IN [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Madison119INMember" xlink:to="label_Madison119INMember_2" xlink:title="label: Madison119INMember to label_Madison119INMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Madison119INMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Madison119INMember" xml:lang="en-US" id="label_Madison119INMember_3">119 Madison, IN</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Madison119INMember" xlink:to="label_Madison119INMember_3" xlink:title="label: Madison119INMember to label_Madison119INMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Marshall061TXMember" xlink:label="Marshall061TXMember" xlink:title="Marshall061TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Marshall061TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Marshall061TXMember" xml:lang="en-US" id="label_Marshall061TXMember">Represents the information pertaining to 061 Marshall, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Marshall061TXMember" xlink:to="label_Marshall061TXMember" xlink:title="label: Marshall061TXMember to label_Marshall061TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Marshall061TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Marshall061TXMember" xml:lang="en-US" id="label_Marshall061TXMember_2">Marshall 061 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Marshall061TXMember" xlink:to="label_Marshall061TXMember_2" xlink:title="label: Marshall061TXMember to label_Marshall061TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Marshall061TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Marshall061TXMember" xml:lang="en-US" id="label_Marshall061TXMember_3">061 Marshall, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Marshall061TXMember" xlink:to="label_Marshall061TXMember_3" xlink:title="label: Marshall061TXMember to label_Marshall061TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_McPherson058KSMember" xlink:label="McPherson058KSMember" xlink:title="McPherson058KSMember" />
    <link:label xlink:type="resource" xlink:label="label_McPherson058KSMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_McPherson058KSMember" xml:lang="en-US" id="label_McPherson058KSMember">Represents the information pertaining to 058 McPherson, KS.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="McPherson058KSMember" xlink:to="label_McPherson058KSMember" xlink:title="label: McPherson058KSMember to label_McPherson058KSMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_McPherson058KSMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_McPherson058KSMember" xml:lang="en-US" id="label_McPherson058KSMember_2">McPherson 058 KS [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="McPherson058KSMember" xlink:to="label_McPherson058KSMember_2" xlink:title="label: McPherson058KSMember to label_McPherson058KSMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_McPherson058KSMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_McPherson058KSMember" xml:lang="en-US" id="label_McPherson058KSMember_3">058 McPherson, KS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="McPherson058KSMember" xlink:to="label_McPherson058KSMember_3" xlink:title="label: McPherson058KSMember to label_McPherson058KSMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MerrittIsland239FLMember" xlink:label="MerrittIsland239FLMember" xlink:title="MerrittIsland239FLMember" />
    <link:label xlink:type="resource" xlink:label="label_MerrittIsland239FLMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MerrittIsland239FLMember" xml:lang="en-US" id="label_MerrittIsland239FLMember">Represents the information pertaining to 239 Merritt Island, FL.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MerrittIsland239FLMember" xlink:to="label_MerrittIsland239FLMember" xlink:title="label: MerrittIsland239FLMember to label_MerrittIsland239FLMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MerrittIsland239FLMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MerrittIsland239FLMember" xml:lang="en-US" id="label_MerrittIsland239FLMember_2">Merritt Island 239 FL [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MerrittIsland239FLMember" xlink:to="label_MerrittIsland239FLMember_2" xlink:title="label: MerrittIsland239FLMember to label_MerrittIsland239FLMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MerrittIsland239FLMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MerrittIsland239FLMember" xml:lang="en-US" id="label_MerrittIsland239FLMember_3">239 Merritt Island, FL</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MerrittIsland239FLMember" xlink:to="label_MerrittIsland239FLMember_3" xlink:title="label: MerrittIsland239FLMember to label_MerrittIsland239FLMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Millville104NJMember" xlink:label="Millville104NJMember" xlink:title="Millville104NJMember" />
    <link:label xlink:type="resource" xlink:label="label_Millville104NJMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Millville104NJMember" xml:lang="en-US" id="label_Millville104NJMember">Represents the information pertaining to 104 Millville, NJ.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Millville104NJMember" xlink:to="label_Millville104NJMember" xlink:title="label: Millville104NJMember to label_Millville104NJMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Millville104NJMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Millville104NJMember" xml:lang="en-US" id="label_Millville104NJMember_2">Millville 104 NJ [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Millville104NJMember" xlink:to="label_Millville104NJMember_2" xlink:title="label: Millville104NJMember to label_Millville104NJMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Millville104NJMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Millville104NJMember" xml:lang="en-US" id="label_Millville104NJMember_3">104 Millville, NJ</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Millville104NJMember" xlink:to="label_Millville104NJMember_3" xlink:title="label: Millville104NJMember to label_Millville104NJMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Monroeville231PAMember" xlink:label="Monroeville231PAMember" xlink:title="Monroeville231PAMember" />
    <link:label xlink:type="resource" xlink:label="label_Monroeville231PAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Monroeville231PAMember" xml:lang="en-US" id="label_Monroeville231PAMember">Represents the information pertaining to 231 Monroeville, PA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Monroeville231PAMember" xlink:to="label_Monroeville231PAMember" xlink:title="label: Monroeville231PAMember to label_Monroeville231PAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Monroeville231PAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Monroeville231PAMember" xml:lang="en-US" id="label_Monroeville231PAMember_2">Monroeville 231 PA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Monroeville231PAMember" xlink:to="label_Monroeville231PAMember_2" xlink:title="label: Monroeville231PAMember to label_Monroeville231PAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Monroeville231PAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Monroeville231PAMember" xml:lang="en-US" id="label_Monroeville231PAMember_3">231 Monroeville, PA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Monroeville231PAMember" xlink:to="label_Monroeville231PAMember_3" xlink:title="label: Monroeville231PAMember to label_Monroeville231PAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Nampa082IDMember" xlink:label="Nampa082IDMember" xlink:title="Nampa082IDMember" />
    <link:label xlink:type="resource" xlink:label="label_Nampa082IDMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Nampa082IDMember" xml:lang="en-US" id="label_Nampa082IDMember">Represents the information pertaining to 082 Nampa, ID.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Nampa082IDMember" xlink:to="label_Nampa082IDMember" xlink:title="label: Nampa082IDMember to label_Nampa082IDMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Nampa082IDMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Nampa082IDMember" xml:lang="en-US" id="label_Nampa082IDMember_2">Nampa 082 ID [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Nampa082IDMember" xlink:to="label_Nampa082IDMember_2" xlink:title="label: Nampa082IDMember to label_Nampa082IDMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Nampa082IDMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Nampa082IDMember" xml:lang="en-US" id="label_Nampa082IDMember_3">082 Nampa, ID</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Nampa082IDMember" xlink:to="label_Nampa082IDMember_3" xlink:title="label: Nampa082IDMember to label_Nampa082IDMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NewBern166NCMember" xlink:label="NewBern166NCMember" xlink:title="NewBern166NCMember" />
    <link:label xlink:type="resource" xlink:label="label_NewBern166NCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NewBern166NCMember" xml:lang="en-US" id="label_NewBern166NCMember">Represents the information pertaining to 166 New Bern, NC.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewBern166NCMember" xlink:to="label_NewBern166NCMember" xlink:title="label: NewBern166NCMember to label_NewBern166NCMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NewBern166NCMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NewBern166NCMember" xml:lang="en-US" id="label_NewBern166NCMember_2">New Bern 166 NC [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewBern166NCMember" xlink:to="label_NewBern166NCMember_2" xlink:title="label: NewBern166NCMember to label_NewBern166NCMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NewBern166NCMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NewBern166NCMember" xml:lang="en-US" id="label_NewBern166NCMember_3">166 New Bern, NC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewBern166NCMember" xlink:to="label_NewBern166NCMember_3" xlink:title="label: NewBern166NCMember to label_NewBern166NCMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="DocumentFiscalYearFocus" xlink:title="DocumentFiscalYearFocus" />
    <link:label xlink:type="resource" xlink:label="label_DocumentFiscalYearFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DocumentFiscalYearFocus" xml:lang="en-US" id="label_DocumentFiscalYearFocus">Document Fiscal Year Focus</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentFiscalYearFocus" xlink:to="label_DocumentFiscalYearFocus" xlink:title="label: DocumentFiscalYearFocus to label_DocumentFiscalYearFocus" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Newark118OHMember" xlink:label="Newark118OHMember" xlink:title="Newark118OHMember" />
    <link:label xlink:type="resource" xlink:label="label_Newark118OHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Newark118OHMember" xml:lang="en-US" id="label_Newark118OHMember">Represents the information pertaining to 118 Newark, OH.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Newark118OHMember" xlink:to="label_Newark118OHMember" xlink:title="label: Newark118OHMember to label_Newark118OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Newark118OHMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Newark118OHMember" xml:lang="en-US" id="label_Newark118OHMember_2">Newark 118 OH [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Newark118OHMember" xlink:to="label_Newark118OHMember_2" xlink:title="label: Newark118OHMember to label_Newark118OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Newark118OHMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Newark118OHMember" xml:lang="en-US" id="label_Newark118OHMember_3">118 Newark, OH</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Newark118OHMember" xlink:to="label_Newark118OHMember_3" xlink:title="label: Newark118OHMember to label_Newark118OHMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="DocumentFiscalPeriodFocus" xlink:title="DocumentFiscalPeriodFocus" />
    <link:label xlink:type="resource" xlink:label="label_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DocumentFiscalPeriodFocus" xml:lang="en-US" id="label_DocumentFiscalPeriodFocus">Document Fiscal Period Focus</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentFiscalPeriodFocus" xlink:to="label_DocumentFiscalPeriodFocus" xlink:title="label: DocumentFiscalPeriodFocus to label_DocumentFiscalPeriodFocus" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NewportRichey123FLMember" xlink:label="NewportRichey123FLMember" xlink:title="NewportRichey123FLMember" />
    <link:label xlink:type="resource" xlink:label="label_NewportRichey123FLMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NewportRichey123FLMember" xml:lang="en-US" id="label_NewportRichey123FLMember">Represents the information pertaining to 123 Newport Richey, FL.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewportRichey123FLMember" xlink:to="label_NewportRichey123FLMember" xlink:title="label: NewportRichey123FLMember to label_NewportRichey123FLMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NewportRichey123FLMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NewportRichey123FLMember" xml:lang="en-US" id="label_NewportRichey123FLMember_2">Newport Richey 123 FL [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewportRichey123FLMember" xlink:to="label_NewportRichey123FLMember_2" xlink:title="label: NewportRichey123FLMember to label_NewportRichey123FLMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NewportRichey123FLMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NewportRichey123FLMember" xml:lang="en-US" id="label_NewportRichey123FLMember_3">123 Newport Richey, FL</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewportRichey123FLMember" xlink:to="label_NewportRichey123FLMember_3" xlink:title="label: NewportRichey123FLMember to label_NewportRichey123FLMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Newport074ORMember" xlink:label="Newport074ORMember" xlink:title="Newport074ORMember" />
    <link:label xlink:type="resource" xlink:label="label_Newport074ORMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Newport074ORMember" xml:lang="en-US" id="label_Newport074ORMember">Represents the information pertaining to 074 Newport, OR.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Newport074ORMember" xlink:to="label_Newport074ORMember" xlink:title="label: Newport074ORMember to label_Newport074ORMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Newport074ORMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Newport074ORMember" xml:lang="en-US" id="label_Newport074ORMember_2">Newport 074 OR [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Newport074ORMember" xlink:to="label_Newport074ORMember_2" xlink:title="label: Newport074ORMember to label_Newport074ORMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Newport074ORMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Newport074ORMember" xml:lang="en-US" id="label_Newport074ORMember_3">074 Newport, OR</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Newport074ORMember" xlink:to="label_Newport074ORMember_3" xlink:title="label: Newport074ORMember to label_Newport074ORMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Niceville143FLMember" xlink:label="Niceville143FLMember" xlink:title="Niceville143FLMember" />
    <link:label xlink:type="resource" xlink:label="label_Niceville143FLMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Niceville143FLMember" xml:lang="en-US" id="label_Niceville143FLMember">Represents the information pertaining to 143 Niceville, FL.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Niceville143FLMember" xlink:to="label_Niceville143FLMember" xlink:title="label: Niceville143FLMember to label_Niceville143FLMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Niceville143FLMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Niceville143FLMember" xml:lang="en-US" id="label_Niceville143FLMember_2">Niceville 143 FL [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Niceville143FLMember" xlink:to="label_Niceville143FLMember_2" xlink:title="label: Niceville143FLMember to label_Niceville143FLMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Niceville143FLMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Niceville143FLMember" xml:lang="en-US" id="label_Niceville143FLMember_3">143 Niceville, FL</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Niceville143FLMember" xlink:to="label_Niceville143FLMember_3" xlink:title="label: Niceville143FLMember to label_Niceville143FLMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Norfolk095NEMember" xlink:label="Norfolk095NEMember" xlink:title="Norfolk095NEMember" />
    <link:label xlink:type="resource" xlink:label="label_Norfolk095NEMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Norfolk095NEMember" xml:lang="en-US" id="label_Norfolk095NEMember">Represents the information pertaining to 095 Norfolk, NE.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Norfolk095NEMember" xlink:to="label_Norfolk095NEMember" xlink:title="label: Norfolk095NEMember to label_Norfolk095NEMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Norfolk095NEMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Norfolk095NEMember" xml:lang="en-US" id="label_Norfolk095NEMember_2">Norfolk 095 NE [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Norfolk095NEMember" xlink:to="label_Norfolk095NEMember_2" xlink:title="label: Norfolk095NEMember to label_Norfolk095NEMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Norfolk095NEMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Norfolk095NEMember" xml:lang="en-US" id="label_Norfolk095NEMember_3">095 Norfolk, NE</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Norfolk095NEMember" xlink:to="label_Norfolk095NEMember_3" xlink:title="label: Norfolk095NEMember to label_Norfolk095NEMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityByLocationAxis" xlink:label="EntityByLocationAxis" xlink:title="EntityByLocationAxis" />
    <link:label xlink:type="resource" xlink:label="label_EntityByLocationAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityByLocationAxis" xml:lang="en-US" id="label_EntityByLocationAxis">Entity by Location [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityByLocationAxis" xlink:to="label_EntityByLocationAxis" xlink:title="label: EntityByLocationAxis to label_EntityByLocationAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Pittsburgh232PAMember" xlink:label="Pittsburgh232PAMember" xlink:title="Pittsburgh232PAMember" />
    <link:label xlink:type="resource" xlink:label="label_Pittsburgh232PAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Pittsburgh232PAMember" xml:lang="en-US" id="label_Pittsburgh232PAMember">Represents the information pertaining to 232 Pittsburgh, PA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Pittsburgh232PAMember" xlink:to="label_Pittsburgh232PAMember" xlink:title="label: Pittsburgh232PAMember to label_Pittsburgh232PAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Pittsburgh232PAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Pittsburgh232PAMember" xml:lang="en-US" id="label_Pittsburgh232PAMember_2">Pittsburgh 232 PA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Pittsburgh232PAMember" xlink:to="label_Pittsburgh232PAMember_2" xlink:title="label: Pittsburgh232PAMember to label_Pittsburgh232PAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Pittsburgh232PAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Pittsburgh232PAMember" xml:lang="en-US" id="label_Pittsburgh232PAMember_3">232 Pittsburgh, PA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Pittsburgh232PAMember" xlink:to="label_Pittsburgh232PAMember_3" xlink:title="label: Pittsburgh232PAMember to label_Pittsburgh232PAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_LocationDomain" xlink:label="LocationDomain" xlink:title="LocationDomain" />
    <link:label xlink:type="resource" xlink:label="label_LocationDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LocationDomain" xml:lang="en-US" id="label_LocationDomain">Location [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LocationDomain" xlink:to="label_LocationDomain" xlink:title="label: LocationDomain to label_LocationDomain" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RockyMount165NCMember" xlink:label="RockyMount165NCMember" xlink:title="RockyMount165NCMember" />
    <link:label xlink:type="resource" xlink:label="label_RockyMount165NCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RockyMount165NCMember" xml:lang="en-US" id="label_RockyMount165NCMember">Represents the information pertaining to 165 Rocky Mount, NC.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RockyMount165NCMember" xlink:to="label_RockyMount165NCMember" xlink:title="label: RockyMount165NCMember to label_RockyMount165NCMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RockyMount165NCMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RockyMount165NCMember" xml:lang="en-US" id="label_RockyMount165NCMember_2">Rocky Mount 165 NC [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RockyMount165NCMember" xlink:to="label_RockyMount165NCMember_2" xlink:title="label: RockyMount165NCMember to label_RockyMount165NCMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RockyMount165NCMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RockyMount165NCMember" xml:lang="en-US" id="label_RockyMount165NCMember_3">165 Rocky Mount, NC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RockyMount165NCMember" xlink:to="label_RockyMount165NCMember_3" xlink:title="label: RockyMount165NCMember to label_RockyMount165NCMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RockyRiver141OHMember" xlink:label="RockyRiver141OHMember" xlink:title="RockyRiver141OHMember" />
    <link:label xlink:type="resource" xlink:label="label_RockyRiver141OHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RockyRiver141OHMember" xml:lang="en-US" id="label_RockyRiver141OHMember">Represents the information pertaining to 141 Rocky River, OH.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RockyRiver141OHMember" xlink:to="label_RockyRiver141OHMember" xlink:title="label: RockyRiver141OHMember to label_RockyRiver141OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RockyRiver141OHMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RockyRiver141OHMember" xml:lang="en-US" id="label_RockyRiver141OHMember_2">Rocky River 141 OH [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RockyRiver141OHMember" xlink:to="label_RockyRiver141OHMember_2" xlink:title="label: RockyRiver141OHMember to label_RockyRiver141OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RockyRiver141OHMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RockyRiver141OHMember" xml:lang="en-US" id="label_RockyRiver141OHMember_3">141 Rocky River, OH</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RockyRiver141OHMember" xlink:to="label_RockyRiver141OHMember_3" xlink:title="label: RockyRiver141OHMember to label_RockyRiver141OHMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Salina059KSMember" xlink:label="Salina059KSMember" xlink:title="Salina059KSMember" />
    <link:label xlink:type="resource" xlink:label="label_Salina059KSMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Salina059KSMember" xml:lang="en-US" id="label_Salina059KSMember">Represents the information pertaining to 059 Salina, KS.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Salina059KSMember" xlink:to="label_Salina059KSMember" xlink:title="label: Salina059KSMember to label_Salina059KSMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Salina059KSMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Salina059KSMember" xml:lang="en-US" id="label_Salina059KSMember_2">Salina 059 KS [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Salina059KSMember" xlink:to="label_Salina059KSMember_2" xlink:title="label: Salina059KSMember to label_Salina059KSMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Salina059KSMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Salina059KSMember" xml:lang="en-US" id="label_Salina059KSMember_3">059 Salina, KS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Salina059KSMember" xlink:to="label_Salina059KSMember_3" xlink:title="label: Salina059KSMember to label_Salina059KSMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SanAntonio084TXMember" xlink:label="SanAntonio084TXMember" xlink:title="SanAntonio084TXMember" />
    <link:label xlink:type="resource" xlink:label="label_SanAntonio084TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SanAntonio084TXMember" xml:lang="en-US" id="label_SanAntonio084TXMember">Represents the information pertaining to 084 San Antonio, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SanAntonio084TXMember" xlink:to="label_SanAntonio084TXMember" xlink:title="label: SanAntonio084TXMember to label_SanAntonio084TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SanAntonio084TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SanAntonio084TXMember" xml:lang="en-US" id="label_SanAntonio084TXMember_2">San Antonio 084 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SanAntonio084TXMember" xlink:to="label_SanAntonio084TXMember_2" xlink:title="label: SanAntonio084TXMember to label_SanAntonio084TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SanAntonio084TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SanAntonio084TXMember" xml:lang="en-US" id="label_SanAntonio084TXMember_3">084 San Antonio, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SanAntonio084TXMember" xlink:to="label_SanAntonio084TXMember_3" xlink:title="label: SanAntonio084TXMember to label_SanAntonio084TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SanAntonio092TXMember" xlink:label="SanAntonio092TXMember" xlink:title="SanAntonio092TXMember" />
    <link:label xlink:type="resource" xlink:label="label_SanAntonio092TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SanAntonio092TXMember" xml:lang="en-US" id="label_SanAntonio092TXMember">Represents the information pertaining to 092 San Antonio, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SanAntonio092TXMember" xlink:to="label_SanAntonio092TXMember" xlink:title="label: SanAntonio092TXMember to label_SanAntonio092TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SanAntonio092TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SanAntonio092TXMember" xml:lang="en-US" id="label_SanAntonio092TXMember_2">San Antonio 092 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SanAntonio092TXMember" xlink:to="label_SanAntonio092TXMember_2" xlink:title="label: SanAntonio092TXMember to label_SanAntonio092TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SanAntonio092TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SanAntonio092TXMember" xml:lang="en-US" id="label_SanAntonio092TXMember_3">092 San Antonio, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SanAntonio092TXMember" xlink:to="label_SanAntonio092TXMember_3" xlink:title="label: SanAntonio092TXMember to label_SanAntonio092TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Shelby149NCMember" xlink:label="Shelby149NCMember" xlink:title="Shelby149NCMember" />
    <link:label xlink:type="resource" xlink:label="label_Shelby149NCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Shelby149NCMember" xml:lang="en-US" id="label_Shelby149NCMember">Represents the information pertaining to 149 Shelby, NC.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Shelby149NCMember" xlink:to="label_Shelby149NCMember" xlink:title="label: Shelby149NCMember to label_Shelby149NCMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Shelby149NCMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Shelby149NCMember" xml:lang="en-US" id="label_Shelby149NCMember_2">Shelby 149 NC [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Shelby149NCMember" xlink:to="label_Shelby149NCMember_2" xlink:title="label: Shelby149NCMember to label_Shelby149NCMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Shelby149NCMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Shelby149NCMember" xml:lang="en-US" id="label_Shelby149NCMember_3">149 Shelby, NC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Shelby149NCMember" xlink:to="label_Shelby149NCMember_3" xlink:title="label: Shelby149NCMember to label_Shelby149NCMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_LegalEntityAxis" xlink:label="LegalEntityAxis" xlink:title="LegalEntityAxis" />
    <link:label xlink:type="resource" xlink:label="label_LegalEntityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LegalEntityAxis" xml:lang="en-US" id="label_LegalEntityAxis">Legal Entity [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalEntityAxis" xlink:to="label_LegalEntityAxis" xlink:title="label: LegalEntityAxis to label_LegalEntityAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SpringHill150FLMember" xlink:label="SpringHill150FLMember" xlink:title="SpringHill150FLMember" />
    <link:label xlink:type="resource" xlink:label="label_SpringHill150FLMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SpringHill150FLMember" xml:lang="en-US" id="label_SpringHill150FLMember">Represents the information pertaining to 150 Spring Hill, FL.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpringHill150FLMember" xlink:to="label_SpringHill150FLMember" xlink:title="label: SpringHill150FLMember to label_SpringHill150FLMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SpringHill150FLMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SpringHill150FLMember" xml:lang="en-US" id="label_SpringHill150FLMember_2">Spring Hill 150 FL [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpringHill150FLMember" xlink:to="label_SpringHill150FLMember_2" xlink:title="label: SpringHill150FLMember to label_SpringHill150FLMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SpringHill150FLMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SpringHill150FLMember" xml:lang="en-US" id="label_SpringHill150FLMember_3">150 Spring Hill, FL</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpringHill150FLMember" xlink:to="label_SpringHill150FLMember_3" xlink:title="label: SpringHill150FLMember to label_SpringHill150FLMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_DocumentType" xlink:label="DocumentType" xlink:title="DocumentType" />
    <link:label xlink:type="resource" xlink:label="label_DocumentType" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DocumentType" xml:lang="en-US" id="label_DocumentType">Document Type</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentType" xlink:to="label_DocumentType" xlink:title="label: DocumentType to label_DocumentType" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Springfield103OHMember" xlink:label="Springfield103OHMember" xlink:title="Springfield103OHMember" />
    <link:label xlink:type="resource" xlink:label="label_Springfield103OHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Springfield103OHMember" xml:lang="en-US" id="label_Springfield103OHMember">Represents the information pertaining to 103 Springfield, OH.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Springfield103OHMember" xlink:to="label_Springfield103OHMember" xlink:title="label: Springfield103OHMember to label_Springfield103OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Springfield103OHMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Springfield103OHMember" xml:lang="en-US" id="label_Springfield103OHMember_2">Springfield 103 OH [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Springfield103OHMember" xlink:to="label_Springfield103OHMember_2" xlink:title="label: Springfield103OHMember to label_Springfield103OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Springfield103OHMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Springfield103OHMember" xml:lang="en-US" id="label_Springfield103OHMember_3">103 Springfield, OH</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Springfield103OHMember" xlink:to="label_Springfield103OHMember_3" xlink:title="label: Springfield103OHMember to label_Springfield103OHMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Sumter162SCMember" xlink:label="Sumter162SCMember" xlink:title="Sumter162SCMember" />
    <link:label xlink:type="resource" xlink:label="label_Sumter162SCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Sumter162SCMember" xml:lang="en-US" id="label_Sumter162SCMember">Represents the information pertaining to 162 Sumter, SC.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Sumter162SCMember" xlink:to="label_Sumter162SCMember" xlink:title="label: Sumter162SCMember to label_Sumter162SCMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Sumter162SCMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Sumter162SCMember" xml:lang="en-US" id="label_Sumter162SCMember_2">Sumter 162 SC [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Sumter162SCMember" xlink:to="label_Sumter162SCMember_2" xlink:title="label: Sumter162SCMember to label_Sumter162SCMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Sumter162SCMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Sumter162SCMember" xml:lang="en-US" id="label_Sumter162SCMember_3">162 Sumter, SC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Sumter162SCMember" xlink:to="label_Sumter162SCMember_3" xlink:title="label: Sumter162SCMember to label_Sumter162SCMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Tallahassee140FLMember" xlink:label="Tallahassee140FLMember" xlink:title="Tallahassee140FLMember" />
    <link:label xlink:type="resource" xlink:label="label_Tallahassee140FLMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Tallahassee140FLMember" xml:lang="en-US" id="label_Tallahassee140FLMember">Represents the information pertaining to 140 Tallahassee, FL.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tallahassee140FLMember" xlink:to="label_Tallahassee140FLMember" xlink:title="label: Tallahassee140FLMember to label_Tallahassee140FLMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Tallahassee140FLMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Tallahassee140FLMember" xml:lang="en-US" id="label_Tallahassee140FLMember_2">Tallahassee 140 FL [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tallahassee140FLMember" xlink:to="label_Tallahassee140FLMember_2" xlink:title="label: Tallahassee140FLMember to label_Tallahassee140FLMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Tallahassee140FLMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Tallahassee140FLMember" xml:lang="en-US" id="label_Tallahassee140FLMember_3">140 Tallahassee, FL</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tallahassee140FLMember" xlink:to="label_Tallahassee140FLMember_3" xlink:title="label: Tallahassee140FLMember to label_Tallahassee140FLMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Tiffin098OHMember" xlink:label="Tiffin098OHMember" xlink:title="Tiffin098OHMember" />
    <link:label xlink:type="resource" xlink:label="label_Tiffin098OHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Tiffin098OHMember" xml:lang="en-US" id="label_Tiffin098OHMember">Represents the information pertaining to 098 Tiffin, OH.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tiffin098OHMember" xlink:to="label_Tiffin098OHMember" xlink:title="label: Tiffin098OHMember to label_Tiffin098OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Tiffin098OHMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Tiffin098OHMember" xml:lang="en-US" id="label_Tiffin098OHMember_2">Tiffin 098 OH [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tiffin098OHMember" xlink:to="label_Tiffin098OHMember_2" xlink:title="label: Tiffin098OHMember to label_Tiffin098OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Tiffin098OHMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Tiffin098OHMember" xml:lang="en-US" id="label_Tiffin098OHMember_3">098 Tiffin, OH</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tiffin098OHMember" xlink:to="label_Tiffin098OHMember_3" xlink:title="label: Tiffin098OHMember to label_Tiffin098OHMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Troy088OHMember" xlink:label="Troy088OHMember" xlink:title="Troy088OHMember" />
    <link:label xlink:type="resource" xlink:label="label_Troy088OHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Troy088OHMember" xml:lang="en-US" id="label_Troy088OHMember">Represents the information pertaining to 088 Troy, OH.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Troy088OHMember" xlink:to="label_Troy088OHMember" xlink:title="label: Troy088OHMember to label_Troy088OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Troy088OHMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Troy088OHMember" xml:lang="en-US" id="label_Troy088OHMember_2">Troy 088 OH [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Troy088OHMember" xlink:to="label_Troy088OHMember_2" xlink:title="label: Troy088OHMember to label_Troy088OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Troy088OHMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Troy088OHMember" xml:lang="en-US" id="label_Troy088OHMember_3">088 Troy, OH</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Troy088OHMember" xlink:to="label_Troy088OHMember_3" xlink:title="label: Troy088OHMember to label_Troy088OHMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Tulsa080OKMember" xlink:label="Tulsa080OKMember" xlink:title="Tulsa080OKMember" />
    <link:label xlink:type="resource" xlink:label="label_Tulsa080OKMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Tulsa080OKMember" xml:lang="en-US" id="label_Tulsa080OKMember">Represents the information pertaining to 080 Tulsa, OK.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tulsa080OKMember" xlink:to="label_Tulsa080OKMember" xlink:title="label: Tulsa080OKMember to label_Tulsa080OKMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Tulsa080OKMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Tulsa080OKMember" xml:lang="en-US" id="label_Tulsa080OKMember_2">Tulsa 080 OK [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tulsa080OKMember" xlink:to="label_Tulsa080OKMember_2" xlink:title="label: Tulsa080OKMember to label_Tulsa080OKMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Tulsa080OKMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Tulsa080OKMember" xml:lang="en-US" id="label_Tulsa080OKMember_3">080 Tulsa, OK</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tulsa080OKMember" xlink:to="label_Tulsa080OKMember_3" xlink:title="label: Tulsa080OKMember to label_Tulsa080OKMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Tulsa093OKMember" xlink:label="Tulsa093OKMember" xlink:title="Tulsa093OKMember" />
    <link:label xlink:type="resource" xlink:label="label_Tulsa093OKMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Tulsa093OKMember" xml:lang="en-US" id="label_Tulsa093OKMember">Represents the information pertaining to 093 Tulsa, OK.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tulsa093OKMember" xlink:to="label_Tulsa093OKMember" xlink:title="label: Tulsa093OKMember to label_Tulsa093OKMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Tulsa093OKMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Tulsa093OKMember" xml:lang="en-US" id="label_Tulsa093OKMember_2">Tulsa 093 OK [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tulsa093OKMember" xlink:to="label_Tulsa093OKMember_2" xlink:title="label: Tulsa093OKMember to label_Tulsa093OKMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Tulsa093OKMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Tulsa093OKMember" xml:lang="en-US" id="label_Tulsa093OKMember_3">093 Tulsa, OK</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tulsa093OKMember" xlink:to="label_Tulsa093OKMember_3" xlink:title="label: Tulsa093OKMember to label_Tulsa093OKMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Tupelo238MSMember" xlink:label="Tupelo238MSMember" xlink:title="Tupelo238MSMember" />
    <link:label xlink:type="resource" xlink:label="label_Tupelo238MSMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Tupelo238MSMember" xml:lang="en-US" id="label_Tupelo238MSMember">Represents the information pertaining to 238 Tupelo, MS.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tupelo238MSMember" xlink:to="label_Tupelo238MSMember" xlink:title="label: Tupelo238MSMember to label_Tupelo238MSMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Tupelo238MSMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Tupelo238MSMember" xml:lang="en-US" id="label_Tupelo238MSMember_2">Tupelo 238 MS [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tupelo238MSMember" xlink:to="label_Tupelo238MSMember_2" xlink:title="label: Tupelo238MSMember to label_Tupelo238MSMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Tupelo238MSMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Tupelo238MSMember" xml:lang="en-US" id="label_Tupelo238MSMember_3">238 Tupelo, MS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tupelo238MSMember" xlink:to="label_Tupelo238MSMember_3" xlink:title="label: Tupelo238MSMember to label_Tupelo238MSMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Tyler075TXMember" xlink:label="Tyler075TXMember" xlink:title="Tyler075TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Tyler075TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Tyler075TXMember" xml:lang="en-US" id="label_Tyler075TXMember">Represents the information pertaining to 075 Tyler, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tyler075TXMember" xlink:to="label_Tyler075TXMember" xlink:title="label: Tyler075TXMember to label_Tyler075TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Tyler075TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Tyler075TXMember" xml:lang="en-US" id="label_Tyler075TXMember_2">Tyler 075 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tyler075TXMember" xlink:to="label_Tyler075TXMember_2" xlink:title="label: Tyler075TXMember to label_Tyler075TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Tyler075TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Tyler075TXMember" xml:lang="en-US" id="label_Tyler075TXMember_3">075 Tyler, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Tyler075TXMember" xlink:to="label_Tyler075TXMember_3" xlink:title="label: Tyler075TXMember to label_Tyler075TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Vacaville202CAMember" xlink:label="Vacaville202CAMember" xlink:title="Vacaville202CAMember" />
    <link:label xlink:type="resource" xlink:label="label_Vacaville202CAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Vacaville202CAMember" xml:lang="en-US" id="label_Vacaville202CAMember">Represents the information pertaining to 202 Vacaville, CA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Vacaville202CAMember" xlink:to="label_Vacaville202CAMember" xlink:title="label: Vacaville202CAMember to label_Vacaville202CAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Vacaville202CAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Vacaville202CAMember" xml:lang="en-US" id="label_Vacaville202CAMember_2">Vacaville 202 CA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Vacaville202CAMember" xlink:to="label_Vacaville202CAMember_2" xlink:title="label: Vacaville202CAMember to label_Vacaville202CAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Vacaville202CAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Vacaville202CAMember" xml:lang="en-US" id="label_Vacaville202CAMember_3">202 Vacaville, CA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Vacaville202CAMember" xlink:to="label_Vacaville202CAMember_3" xlink:title="label: Vacaville202CAMember to label_Vacaville202CAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Vancouver025WAMember" xlink:label="Vancouver025WAMember" xlink:title="Vancouver025WAMember" />
    <link:label xlink:type="resource" xlink:label="label_Vancouver025WAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Vancouver025WAMember" xml:lang="en-US" id="label_Vancouver025WAMember">Represents the information pertaining to 025 Vancouver, WA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Vancouver025WAMember" xlink:to="label_Vancouver025WAMember" xlink:title="label: Vancouver025WAMember to label_Vancouver025WAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Vancouver025WAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Vancouver025WAMember" xml:lang="en-US" id="label_Vancouver025WAMember_2">Vancouver 025 WA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Vancouver025WAMember" xlink:to="label_Vancouver025WAMember_2" xlink:title="label: Vancouver025WAMember to label_Vancouver025WAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Vancouver025WAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Vancouver025WAMember" xml:lang="en-US" id="label_Vancouver025WAMember_3">025 Vancouver, WA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Vancouver025WAMember" xlink:to="label_Vancouver025WAMember_3" xlink:title="label: Vancouver025WAMember to label_Vancouver025WAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Waco091TXMember" xlink:label="Waco091TXMember" xlink:title="Waco091TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Waco091TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Waco091TXMember" xml:lang="en-US" id="label_Waco091TXMember">Represents the information pertaining to 091 Waco, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Waco091TXMember" xlink:to="label_Waco091TXMember" xlink:title="label: Waco091TXMember to label_Waco091TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Waco091TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Waco091TXMember" xml:lang="en-US" id="label_Waco091TXMember_2">Waco 091 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Waco091TXMember" xlink:to="label_Waco091TXMember_2" xlink:title="label: Waco091TXMember to label_Waco091TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Waco091TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Waco091TXMember" xml:lang="en-US" id="label_Waco091TXMember_3">091 Waco, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Waco091TXMember" xlink:to="label_Waco091TXMember_3" xlink:title="label: Waco091TXMember to label_Waco091TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Wahoo096NEMember" xlink:label="Wahoo096NEMember" xlink:title="Wahoo096NEMember" />
    <link:label xlink:type="resource" xlink:label="label_Wahoo096NEMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Wahoo096NEMember" xml:lang="en-US" id="label_Wahoo096NEMember">Represents the information pertaining to 096 Wahoo, NE.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Wahoo096NEMember" xlink:to="label_Wahoo096NEMember" xlink:title="label: Wahoo096NEMember to label_Wahoo096NEMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Wahoo096NEMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Wahoo096NEMember" xml:lang="en-US" id="label_Wahoo096NEMember_2">Wahoo 096 NE [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Wahoo096NEMember" xlink:to="label_Wahoo096NEMember_2" xlink:title="label: Wahoo096NEMember to label_Wahoo096NEMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Wahoo096NEMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Wahoo096NEMember" xml:lang="en-US" id="label_Wahoo096NEMember_3">096 Wahoo, NE</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Wahoo096NEMember" xlink:to="label_Wahoo096NEMember_3" xlink:title="label: Wahoo096NEMember to label_Wahoo096NEMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_WallaWalla023WAMember" xlink:label="WallaWalla023WAMember" xlink:title="WallaWalla023WAMember" />
    <link:label xlink:type="resource" xlink:label="label_WallaWalla023WAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_WallaWalla023WAMember" xml:lang="en-US" id="label_WallaWalla023WAMember">Represents the information pertaining to 023 Walla Walla, WA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WallaWalla023WAMember" xlink:to="label_WallaWalla023WAMember" xlink:title="label: WallaWalla023WAMember to label_WallaWalla023WAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_WallaWalla023WAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WallaWalla023WAMember" xml:lang="en-US" id="label_WallaWalla023WAMember_2">Walla Walla 023 WA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WallaWalla023WAMember" xlink:to="label_WallaWalla023WAMember_2" xlink:title="label: WallaWalla023WAMember to label_WallaWalla023WAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_WallaWalla023WAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_WallaWalla023WAMember" xml:lang="en-US" id="label_WallaWalla023WAMember_3">023 Walla Walla, WA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WallaWalla023WAMember" xlink:to="label_WallaWalla023WAMember_3" xlink:title="label: WallaWalla023WAMember to label_WallaWalla023WAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Watauga108TXMember" xlink:label="Watauga108TXMember" xlink:title="Watauga108TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Watauga108TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Watauga108TXMember" xml:lang="en-US" id="label_Watauga108TXMember">Represents the information pertaining to 108 Watauga, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Watauga108TXMember" xlink:to="label_Watauga108TXMember" xlink:title="label: Watauga108TXMember to label_Watauga108TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Watauga108TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Watauga108TXMember" xml:lang="en-US" id="label_Watauga108TXMember_2">Watauga 108 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Watauga108TXMember" xlink:to="label_Watauga108TXMember_2" xlink:title="label: Watauga108TXMember to label_Watauga108TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Watauga108TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Watauga108TXMember" xml:lang="en-US" id="label_Watauga108TXMember_3">108 Watauga, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Watauga108TXMember" xlink:to="label_Watauga108TXMember_3" xlink:title="label: Watauga108TXMember to label_Watauga108TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Wetherford109OKMember" xlink:label="Wetherford109OKMember" xlink:title="Wetherford109OKMember" />
    <link:label xlink:type="resource" xlink:label="label_Wetherford109OKMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Wetherford109OKMember" xml:lang="en-US" id="label_Wetherford109OKMember">Represents the information pertaining to 109 Wetherford, OK.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Wetherford109OKMember" xlink:to="label_Wetherford109OKMember" xlink:title="label: Wetherford109OKMember to label_Wetherford109OKMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Wetherford109OKMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Wetherford109OKMember" xml:lang="en-US" id="label_Wetherford109OKMember_2">Wetherford 109 OK [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Wetherford109OKMember" xlink:to="label_Wetherford109OKMember_2" xlink:title="label: Wetherford109OKMember to label_Wetherford109OKMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Wetherford109OKMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Wetherford109OKMember" xml:lang="en-US" id="label_Wetherford109OKMember_3">109 Wetherford, OK</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Wetherford109OKMember" xlink:to="label_Wetherford109OKMember_3" xlink:title="label: Wetherford109OKMember to label_Wetherford109OKMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Wheelersburg110OHMember" xlink:label="Wheelersburg110OHMember" xlink:title="Wheelersburg110OHMember" />
    <link:label xlink:type="resource" xlink:label="label_Wheelersburg110OHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Wheelersburg110OHMember" xml:lang="en-US" id="label_Wheelersburg110OHMember">Represents the information pertaining to 110 Wheelersburg, OH.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Wheelersburg110OHMember" xlink:to="label_Wheelersburg110OHMember" xlink:title="label: Wheelersburg110OHMember to label_Wheelersburg110OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Wheelersburg110OHMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Wheelersburg110OHMember" xml:lang="en-US" id="label_Wheelersburg110OHMember_2">Wheelersburg 110 OH [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Wheelersburg110OHMember" xlink:to="label_Wheelersburg110OHMember_2" xlink:title="label: Wheelersburg110OHMember to label_Wheelersburg110OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Wheelersburg110OHMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Wheelersburg110OHMember" xml:lang="en-US" id="label_Wheelersburg110OHMember_3">110 Wheelersburg, OH</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Wheelersburg110OHMember" xlink:to="label_Wheelersburg110OHMember_3" xlink:title="label: Wheelersburg110OHMember to label_Wheelersburg110OHMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_WichitaFalls076TXMember" xlink:label="WichitaFalls076TXMember" xlink:title="WichitaFalls076TXMember" />
    <link:label xlink:type="resource" xlink:label="label_WichitaFalls076TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_WichitaFalls076TXMember" xml:lang="en-US" id="label_WichitaFalls076TXMember">Represents the information pertaining to 076 Wichita Falls, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WichitaFalls076TXMember" xlink:to="label_WichitaFalls076TXMember" xlink:title="label: WichitaFalls076TXMember to label_WichitaFalls076TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_WichitaFalls076TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WichitaFalls076TXMember" xml:lang="en-US" id="label_WichitaFalls076TXMember_2">Wichita Falls 076 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WichitaFalls076TXMember" xlink:to="label_WichitaFalls076TXMember_2" xlink:title="label: WichitaFalls076TXMember to label_WichitaFalls076TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_WichitaFalls076TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_WichitaFalls076TXMember" xml:lang="en-US" id="label_WichitaFalls076TXMember_3">076 Wichita Falls, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WichitaFalls076TXMember" xlink:to="label_WichitaFalls076TXMember_3" xlink:title="label: WichitaFalls076TXMember to label_WichitaFalls076TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_WichitaFalls120TXMember" xlink:label="WichitaFalls120TXMember" xlink:title="WichitaFalls120TXMember" />
    <link:label xlink:type="resource" xlink:label="label_WichitaFalls120TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_WichitaFalls120TXMember" xml:lang="en-US" id="label_WichitaFalls120TXMember">Represents the information pertaining to 120 Wichita Falls, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WichitaFalls120TXMember" xlink:to="label_WichitaFalls120TXMember" xlink:title="label: WichitaFalls120TXMember to label_WichitaFalls120TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_WichitaFalls120TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WichitaFalls120TXMember" xml:lang="en-US" id="label_WichitaFalls120TXMember_2">Wichita Falls 120 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WichitaFalls120TXMember" xlink:to="label_WichitaFalls120TXMember_2" xlink:title="label: WichitaFalls120TXMember to label_WichitaFalls120TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_WichitaFalls120TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_WichitaFalls120TXMember" xml:lang="en-US" id="label_WichitaFalls120TXMember_3">120 Wichita Falls,TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WichitaFalls120TXMember" xlink:to="label_WichitaFalls120TXMember_3" xlink:title="label: WichitaFalls120TXMember to label_WichitaFalls120TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Worthington138OHMember" xlink:label="Worthington138OHMember" xlink:title="Worthington138OHMember" />
    <link:label xlink:type="resource" xlink:label="label_Worthington138OHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Worthington138OHMember" xml:lang="en-US" id="label_Worthington138OHMember">Represents the information pertaining to 138 Worthington, OH.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Worthington138OHMember" xlink:to="label_Worthington138OHMember" xlink:title="label: Worthington138OHMember to label_Worthington138OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Worthington138OHMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Worthington138OHMember" xml:lang="en-US" id="label_Worthington138OHMember_2">Worthington 138 OH [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Worthington138OHMember" xlink:to="label_Worthington138OHMember_2" xlink:title="label: Worthington138OHMember to label_Worthington138OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Worthington138OHMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Worthington138OHMember" xml:lang="en-US" id="label_Worthington138OHMember_3">138 Worthington, OH</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Worthington138OHMember" xlink:to="label_Worthington138OHMember_3" xlink:title="label: Worthington138OHMember to label_Worthington138OHMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Worthington139OHMember" xlink:label="Worthington139OHMember" xlink:title="Worthington139OHMember" />
    <link:label xlink:type="resource" xlink:label="label_Worthington139OHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Worthington139OHMember" xml:lang="en-US" id="label_Worthington139OHMember">Represents the information pertaining to 139 Worthington, OH.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Worthington139OHMember" xlink:to="label_Worthington139OHMember" xlink:title="label: Worthington139OHMember to label_Worthington139OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Worthington139OHMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Worthington139OHMember" xml:lang="en-US" id="label_Worthington139OHMember_2">Worthington 139 OH [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Worthington139OHMember" xlink:to="label_Worthington139OHMember_2" xlink:title="label: Worthington139OHMember to label_Worthington139OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Worthington139OHMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Worthington139OHMember" xml:lang="en-US" id="label_Worthington139OHMember_3">139 Worthington, OH</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Worthington139OHMember" xlink:to="label_Worthington139OHMember_3" xlink:title="label: Worthington139OHMember to label_Worthington139OHMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_York099NEMember" xlink:label="York099NEMember" xlink:title="York099NEMember" />
    <link:label xlink:type="resource" xlink:label="label_York099NEMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_York099NEMember" xml:lang="en-US" id="label_York099NEMember">Represents the information pertaining to 099 York, NE.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="York099NEMember" xlink:to="label_York099NEMember" xlink:title="label: York099NEMember to label_York099NEMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_York099NEMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_York099NEMember" xml:lang="en-US" id="label_York099NEMember_2">York 099 NE [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="York099NEMember" xlink:to="label_York099NEMember_2" xlink:title="label: York099NEMember to label_York099NEMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_York099NEMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_York099NEMember" xml:lang="en-US" id="label_York099NEMember_3">099 York, NE</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="York099NEMember" xlink:to="label_York099NEMember_3" xlink:title="label: York099NEMember to label_York099NEMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Bradenton007FLMember" xlink:label="Bradenton007FLMember" xlink:title="Bradenton007FLMember" />
    <link:label xlink:type="resource" xlink:label="label_Bradenton007FLMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Bradenton007FLMember" xml:lang="en-US" id="label_Bradenton007FLMember">Represents the information pertaining to 007 Bradenton, FL.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Bradenton007FLMember" xlink:to="label_Bradenton007FLMember" xlink:title="label: Bradenton007FLMember to label_Bradenton007FLMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Bradenton007FLMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Bradenton007FLMember" xml:lang="en-US" id="label_Bradenton007FLMember_2">Bradenton 007 FL [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Bradenton007FLMember" xlink:to="label_Bradenton007FLMember_2" xlink:title="label: Bradenton007FLMember to label_Bradenton007FLMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Bradenton007FLMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Bradenton007FLMember" xml:lang="en-US" id="label_Bradenton007FLMember_3">007 Bradenton, FL</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Bradenton007FLMember" xlink:to="label_Bradenton007FLMember_3" xlink:title="label: Bradenton007FLMember to label_Bradenton007FLMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Brownsville199TXMember" xlink:label="Brownsville199TXMember" xlink:title="Brownsville199TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Brownsville199TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Brownsville199TXMember" xml:lang="en-US" id="label_Brownsville199TXMember">Represents the information pertaining to 199 Brownsville, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Brownsville199TXMember" xlink:to="label_Brownsville199TXMember" xlink:title="label: Brownsville199TXMember to label_Brownsville199TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Brownsville199TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Brownsville199TXMember" xml:lang="en-US" id="label_Brownsville199TXMember_2">Brownsville 199 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Brownsville199TXMember" xlink:to="label_Brownsville199TXMember_2" xlink:title="label: Brownsville199TXMember to label_Brownsville199TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Brownsville199TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Brownsville199TXMember" xml:lang="en-US" id="label_Brownsville199TXMember_3">199 Brownsville, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Brownsville199TXMember" xlink:to="label_Brownsville199TXMember_3" xlink:title="label: Brownsville199TXMember to label_Brownsville199TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Cordele191GAMember" xlink:label="Cordele191GAMember" xlink:title="Cordele191GAMember" />
    <link:label xlink:type="resource" xlink:label="label_Cordele191GAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Cordele191GAMember" xml:lang="en-US" id="label_Cordele191GAMember">Represents the information pertaining to 191 Cordele, GA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Cordele191GAMember" xlink:to="label_Cordele191GAMember" xlink:title="label: Cordele191GAMember to label_Cordele191GAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Cordele191GAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Cordele191GAMember" xml:lang="en-US" id="label_Cordele191GAMember_2">Cordele 191 GA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Cordele191GAMember" xlink:to="label_Cordele191GAMember_2" xlink:title="label: Cordele191GAMember to label_Cordele191GAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Cordele191GAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Cordele191GAMember" xml:lang="en-US" id="label_Cordele191GAMember_3">191 Cordele, GA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Cordele191GAMember" xlink:to="label_Cordele191GAMember_3" xlink:title="label: Cordele191GAMember to label_Cordele191GAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DesMoines168IAMember" xlink:label="DesMoines168IAMember" xlink:title="DesMoines168IAMember" />
    <link:label xlink:type="resource" xlink:label="label_DesMoines168IAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DesMoines168IAMember" xml:lang="en-US" id="label_DesMoines168IAMember">Represents the information pertaining to 168 Des Moines, IA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DesMoines168IAMember" xlink:to="label_DesMoines168IAMember" xlink:title="label: DesMoines168IAMember to label_DesMoines168IAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DesMoines168IAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DesMoines168IAMember" xml:lang="en-US" id="label_DesMoines168IAMember_2">Des Moines 168 IA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DesMoines168IAMember" xlink:to="label_DesMoines168IAMember_2" xlink:title="label: DesMoines168IAMember to label_DesMoines168IAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DesMoines168IAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DesMoines168IAMember" xml:lang="en-US" id="label_DesMoines168IAMember_3">168 Des Moines, IA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DesMoines168IAMember" xlink:to="label_DesMoines168IAMember_3" xlink:title="label: DesMoines168IAMember to label_DesMoines168IAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_FtWorth229TXMember" xlink:label="FtWorth229TXMember" xlink:title="FtWorth229TXMember" />
    <link:label xlink:type="resource" xlink:label="label_FtWorth229TXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FtWorth229TXMember" xml:lang="en-US" id="label_FtWorth229TXMember">Represents the information pertaining to 229 Ft. Worth, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FtWorth229TXMember" xlink:to="label_FtWorth229TXMember" xlink:title="label: FtWorth229TXMember to label_FtWorth229TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_FtWorth229TXMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FtWorth229TXMember" xml:lang="en-US" id="label_FtWorth229TXMember_2">Ft Worth 229 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FtWorth229TXMember" xlink:to="label_FtWorth229TXMember_2" xlink:title="label: FtWorth229TXMember to label_FtWorth229TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_FtWorth229TXMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FtWorth229TXMember" xml:lang="en-US" id="label_FtWorth229TXMember_3">229 Ft. Worth, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FtWorth229TXMember" xlink:to="label_FtWorth229TXMember_3" xlink:title="label: FtWorth229TXMember to label_FtWorth229TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Gardendale26AALMember" xlink:label="Gardendale26AALMember" xlink:title="Gardendale26AALMember" />
    <link:label xlink:type="resource" xlink:label="label_Gardendale26AALMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Gardendale26AALMember" xml:lang="en-US" id="label_Gardendale26AALMember">Represents the information pertaining to 26A Gardendale, AL.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Gardendale26AALMember" xlink:to="label_Gardendale26AALMember" xlink:title="label: Gardendale26AALMember to label_Gardendale26AALMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Gardendale26AALMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Gardendale26AALMember" xml:lang="en-US" id="label_Gardendale26AALMember_2">Gardendale 26 AAL [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Gardendale26AALMember" xlink:to="label_Gardendale26AALMember_2" xlink:title="label: Gardendale26AALMember to label_Gardendale26AALMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Gardendale26AALMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Gardendale26AALMember" xml:lang="en-US" id="label_Gardendale26AALMember_3">26A Gardendale, AL</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Gardendale26AALMember" xlink:to="label_Gardendale26AALMember_3" xlink:title="label: Gardendale26AALMember to label_Gardendale26AALMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Gardendale26BALMember" xlink:label="Gardendale26BALMember" xlink:title="Gardendale26BALMember" />
    <link:label xlink:type="resource" xlink:label="label_Gardendale26BALMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Gardendale26BALMember" xml:lang="en-US" id="label_Gardendale26BALMember">Represents the information pertaining to 26B Gardendale, AL.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Gardendale26BALMember" xlink:to="label_Gardendale26BALMember" xlink:title="label: Gardendale26BALMember to label_Gardendale26BALMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Gardendale26BALMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Gardendale26BALMember" xml:lang="en-US" id="label_Gardendale26BALMember_2">Gardendale 26 BAL [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Gardendale26BALMember" xlink:to="label_Gardendale26BALMember_2" xlink:title="label: Gardendale26BALMember to label_Gardendale26BALMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Gardendale26BALMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Gardendale26BALMember" xml:lang="en-US" id="label_Gardendale26BALMember_3">26B Gardendale, AL</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Gardendale26BALMember" xlink:to="label_Gardendale26BALMember_3" xlink:title="label: Gardendale26BALMember to label_Gardendale26BALMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Holyoke194COMember" xlink:label="Holyoke194COMember" xlink:title="Holyoke194COMember" />
    <link:label xlink:type="resource" xlink:label="label_Holyoke194COMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Holyoke194COMember" xml:lang="en-US" id="label_Holyoke194COMember">Represents the information pertaining to 194 Holyoke, CO.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Holyoke194COMember" xlink:to="label_Holyoke194COMember" xlink:title="label: Holyoke194COMember to label_Holyoke194COMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Holyoke194COMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Holyoke194COMember" xml:lang="en-US" id="label_Holyoke194COMember_2">Holyoke 194 CO [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Holyoke194COMember" xlink:to="label_Holyoke194COMember_2" xlink:title="label: Holyoke194COMember to label_Holyoke194COMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Holyoke194COMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Holyoke194COMember" xml:lang="en-US" id="label_Holyoke194COMember_3">194 Holyoke, CO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Holyoke194COMember" xlink:to="label_Holyoke194COMember_3" xlink:title="label: Holyoke194COMember to label_Holyoke194COMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Lakeland190FLMember" xlink:label="Lakeland190FLMember" xlink:title="Lakeland190FLMember" />
    <link:label xlink:type="resource" xlink:label="label_Lakeland190FLMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Lakeland190FLMember" xml:lang="en-US" id="label_Lakeland190FLMember">Represents the information pertaining to 190 Lakeland, FL.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Lakeland190FLMember" xlink:to="label_Lakeland190FLMember" xlink:title="label: Lakeland190FLMember to label_Lakeland190FLMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Lakeland190FLMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Lakeland190FLMember" xml:lang="en-US" id="label_Lakeland190FLMember_2">Lakeland 190 FL [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Lakeland190FLMember" xlink:to="label_Lakeland190FLMember_2" xlink:title="label: Lakeland190FLMember to label_Lakeland190FLMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Lakeland190FLMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Lakeland190FLMember" xml:lang="en-US" id="label_Lakeland190FLMember_3">190 Lakeland, FL</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Lakeland190FLMember" xlink:to="label_Lakeland190FLMember_3" xlink:title="label: Lakeland190FLMember to label_Lakeland190FLMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Lecanto008FLMember" xlink:label="Lecanto008FLMember" xlink:title="Lecanto008FLMember" />
    <link:label xlink:type="resource" xlink:label="label_Lecanto008FLMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Lecanto008FLMember" xml:lang="en-US" id="label_Lecanto008FLMember">Represents the information pertaining to 008 Lecanto, FL.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Lecanto008FLMember" xlink:to="label_Lecanto008FLMember" xlink:title="label: Lecanto008FLMember to label_Lecanto008FLMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Lecanto008FLMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Lecanto008FLMember" xml:lang="en-US" id="label_Lecanto008FLMember_2">Lecanto 008 FL [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Lecanto008FLMember" xlink:to="label_Lecanto008FLMember_2" xlink:title="label: Lecanto008FLMember to label_Lecanto008FLMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Lecanto008FLMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Lecanto008FLMember" xml:lang="en-US" id="label_Lecanto008FLMember_3">008 Lecanto, FL</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Lecanto008FLMember" xlink:to="label_Lecanto008FLMember_3" xlink:title="label: Lecanto008FLMember to label_Lecanto008FLMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Newberry245SCMember" xlink:label="Newberry245SCMember" xlink:title="Newberry245SCMember" />
    <link:label xlink:type="resource" xlink:label="label_Newberry245SCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Newberry245SCMember" xml:lang="en-US" id="label_Newberry245SCMember">Represents the information pertaining to 245 Newberry, SC.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Newberry245SCMember" xlink:to="label_Newberry245SCMember" xlink:title="label: Newberry245SCMember to label_Newberry245SCMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Newberry245SCMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Newberry245SCMember" xml:lang="en-US" id="label_Newberry245SCMember_2">Newberry 245 SC [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Newberry245SCMember" xlink:to="label_Newberry245SCMember_2" xlink:title="label: Newberry245SCMember to label_Newberry245SCMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Newberry245SCMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Newberry245SCMember" xml:lang="en-US" id="label_Newberry245SCMember_3">245 Newberry, SC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Newberry245SCMember" xlink:to="label_Newberry245SCMember_3" xlink:title="label: Newberry245SCMember to label_Newberry245SCMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Newberry244SCMember" xlink:label="Newberry244SCMember" xlink:title="Newberry244SCMember" />
    <link:label xlink:type="resource" xlink:label="label_Newberry244SCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Newberry244SCMember" xml:lang="en-US" id="label_Newberry244SCMember">Represents the information pertaining to 244 Newberry, SC.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Newberry244SCMember" xlink:to="label_Newberry244SCMember" xlink:title="label: Newberry244SCMember to label_Newberry244SCMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Newberry244SCMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Newberry244SCMember" xml:lang="en-US" id="label_Newberry244SCMember_2">Newberry 244 SC [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Newberry244SCMember" xlink:to="label_Newberry244SCMember_2" xlink:title="label: Newberry244SCMember to label_Newberry244SCMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Newberry244SCMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Newberry244SCMember" xml:lang="en-US" id="label_Newberry244SCMember_3">244 Newberry, SC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Newberry244SCMember" xlink:to="label_Newberry244SCMember_3" xlink:title="label: Newberry244SCMember to label_Newberry244SCMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Wytheville236VAMember" xlink:label="Wytheville236VAMember" xlink:title="Wytheville236VAMember" />
    <link:label xlink:type="resource" xlink:label="label_Wytheville236VAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Wytheville236VAMember" xml:lang="en-US" id="label_Wytheville236VAMember">Represents the information pertaining to 236 Wytheville, VA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Wytheville236VAMember" xlink:to="label_Wytheville236VAMember" xlink:title="label: Wytheville236VAMember to label_Wytheville236VAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Wytheville236VAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Wytheville236VAMember" xml:lang="en-US" id="label_Wytheville236VAMember_2">Wytheville 236 VA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Wytheville236VAMember" xlink:to="label_Wytheville236VAMember_2" xlink:title="label: Wytheville236VAMember to label_Wytheville236VAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Wytheville236VAMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Wytheville236VAMember" xml:lang="en-US" id="label_Wytheville236VAMember_3">236 Wytheville, VA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Wytheville236VAMember" xlink:to="label_Wytheville236VAMember_3" xlink:title="label: Wytheville236VAMember to label_Wytheville236VAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Eagan237MNMember" xlink:label="Eagan237MNMember" xlink:title="Eagan237MNMember" />
    <link:label xlink:type="resource" xlink:label="label_Eagan237MNMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Eagan237MNMember" xml:lang="en-US" id="label_Eagan237MNMember">Represents the information pertaining to 237 Eagan, MN.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Eagan237MNMember" xlink:to="label_Eagan237MNMember" xlink:title="label: Eagan237MNMember to label_Eagan237MNMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Eagan237MNMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Eagan237MNMember" xml:lang="en-US" id="label_Eagan237MNMember_2">Eagan 237 MN [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Eagan237MNMember" xlink:to="label_Eagan237MNMember_2" xlink:title="label: Eagan237MNMember to label_Eagan237MNMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Eagan237MNMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Eagan237MNMember" xml:lang="en-US" id="label_Eagan237MNMember_3">237 Eagan, MN</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Eagan237MNMember" xlink:to="label_Eagan237MNMember_3" xlink:title="label: Eagan237MNMember to label_Eagan237MNMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Trenton159NJMember" xlink:label="Trenton159NJMember" xlink:title="Trenton159NJMember" />
    <link:label xlink:type="resource" xlink:label="label_Trenton159NJMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Trenton159NJMember" xml:lang="en-US" id="label_Trenton159NJMember">Represents the information pertaining to 159 Trenton, NJ.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Trenton159NJMember" xlink:to="label_Trenton159NJMember" xlink:title="label: Trenton159NJMember to label_Trenton159NJMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Trenton159NJMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Trenton159NJMember" xml:lang="en-US" id="label_Trenton159NJMember_2">Trenton 159 NJ [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Trenton159NJMember" xlink:to="label_Trenton159NJMember_2" xlink:title="label: Trenton159NJMember to label_Trenton159NJMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Trenton159NJMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Trenton159NJMember" xml:lang="en-US" id="label_Trenton159NJMember_3">159 Trenton, NJ</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Trenton159NJMember" xlink:to="label_Trenton159NJMember_3" xlink:title="label: Trenton159NJMember to label_Trenton159NJMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledNursingPropertiesWith288UnitsMember" xlink:label="SkilledNursingPropertiesWith288UnitsMember" xlink:title="SkilledNursingPropertiesWith288UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith288UnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledNursingPropertiesWith288UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith288UnitsMember">Skilled Nursing Properties with 288 Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith288UnitsMember" xlink:to="label_SkilledNursingPropertiesWith288UnitsMember" xlink:title="label: SkilledNursingPropertiesWith288UnitsMember to label_SkilledNursingPropertiesWith288UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith288UnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledNursingPropertiesWith288UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith288UnitsMember_2">288-bed skilled nursing property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith288UnitsMember" xlink:to="label_SkilledNursingPropertiesWith288UnitsMember_2" xlink:title="label: SkilledNursingPropertiesWith288UnitsMember to label_SkilledNursingPropertiesWith288UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith288UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledNursingPropertiesWith288UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith288UnitsMember_3">Represents information pertaining to skilled nursing facility properties comprising of 288 units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith288UnitsMember" xlink:to="label_SkilledNursingPropertiesWith288UnitsMember_3" xlink:title="label: SkilledNursingPropertiesWith288UnitsMember to label_SkilledNursingPropertiesWith288UnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_AssistedLivingPropertiesWith100UnitsMember" xlink:label="AssistedLivingPropertiesWith100UnitsMember" xlink:title="AssistedLivingPropertiesWith100UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingPropertiesWith100UnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssistedLivingPropertiesWith100UnitsMember" xml:lang="en-US" id="label_AssistedLivingPropertiesWith100UnitsMember">Assisted Living Properties with 100 Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingPropertiesWith100UnitsMember" xlink:to="label_AssistedLivingPropertiesWith100UnitsMember" xlink:title="label: AssistedLivingPropertiesWith100UnitsMember to label_AssistedLivingPropertiesWith100UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingPropertiesWith100UnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssistedLivingPropertiesWith100UnitsMember" xml:lang="en-US" id="label_AssistedLivingPropertiesWith100UnitsMember_2">100-units assisted living properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingPropertiesWith100UnitsMember" xlink:to="label_AssistedLivingPropertiesWith100UnitsMember_2" xlink:title="label: AssistedLivingPropertiesWith100UnitsMember to label_AssistedLivingPropertiesWith100UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingPropertiesWith100UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AssistedLivingPropertiesWith100UnitsMember" xml:lang="en-US" id="label_AssistedLivingPropertiesWith100UnitsMember_3">Represents information pertaining to assisted living properties comprising of 100 units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingPropertiesWith100UnitsMember" xlink:to="label_AssistedLivingPropertiesWith100UnitsMember_3" xlink:title="label: AssistedLivingPropertiesWith100UnitsMember to label_AssistedLivingPropertiesWith100UnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_AssistedLivingPropertiesWith166UnitsMember" xlink:label="AssistedLivingPropertiesWith166UnitsMember" xlink:title="AssistedLivingPropertiesWith166UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingPropertiesWith166UnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssistedLivingPropertiesWith166UnitsMember" xml:lang="en-US" id="label_AssistedLivingPropertiesWith166UnitsMember">Assisted Living Properties with 166 Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingPropertiesWith166UnitsMember" xlink:to="label_AssistedLivingPropertiesWith166UnitsMember" xlink:title="label: AssistedLivingPropertiesWith166UnitsMember to label_AssistedLivingPropertiesWith166UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingPropertiesWith166UnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssistedLivingPropertiesWith166UnitsMember" xml:lang="en-US" id="label_AssistedLivingPropertiesWith166UnitsMember_2">166-units assisted living properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingPropertiesWith166UnitsMember" xlink:to="label_AssistedLivingPropertiesWith166UnitsMember_2" xlink:title="label: AssistedLivingPropertiesWith166UnitsMember to label_AssistedLivingPropertiesWith166UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingPropertiesWith166UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AssistedLivingPropertiesWith166UnitsMember" xml:lang="en-US" id="label_AssistedLivingPropertiesWith166UnitsMember_3">Represents information pertaining to assisted living properties comprising of 166 units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingPropertiesWith166UnitsMember" xlink:to="label_AssistedLivingPropertiesWith166UnitsMember_3" xlink:title="label: AssistedLivingPropertiesWith166UnitsMember to label_AssistedLivingPropertiesWith166UnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_AssistedLivingPropertiesWith218UnitsMember" xlink:label="AssistedLivingPropertiesWith218UnitsMember" xlink:title="AssistedLivingPropertiesWith218UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingPropertiesWith218UnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssistedLivingPropertiesWith218UnitsMember" xml:lang="en-US" id="label_AssistedLivingPropertiesWith218UnitsMember">Assisted Living Properties with 218 Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingPropertiesWith218UnitsMember" xlink:to="label_AssistedLivingPropertiesWith218UnitsMember" xlink:title="label: AssistedLivingPropertiesWith218UnitsMember to label_AssistedLivingPropertiesWith218UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingPropertiesWith218UnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssistedLivingPropertiesWith218UnitsMember" xml:lang="en-US" id="label_AssistedLivingPropertiesWith218UnitsMember_2">218-units assisted living properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingPropertiesWith218UnitsMember" xlink:to="label_AssistedLivingPropertiesWith218UnitsMember_2" xlink:title="label: AssistedLivingPropertiesWith218UnitsMember to label_AssistedLivingPropertiesWith218UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingPropertiesWith218UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AssistedLivingPropertiesWith218UnitsMember" xml:lang="en-US" id="label_AssistedLivingPropertiesWith218UnitsMember_3">Represents information pertaining to assisted living properties comprising of 218 units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingPropertiesWith218UnitsMember" xlink:to="label_AssistedLivingPropertiesWith218UnitsMember_3" xlink:title="label: AssistedLivingPropertiesWith218UnitsMember to label_AssistedLivingPropertiesWith218UnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledNursingPropertiesWith336UnitsMember" xlink:label="SkilledNursingPropertiesWith336UnitsMember" xlink:title="SkilledNursingPropertiesWith336UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith336UnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledNursingPropertiesWith336UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith336UnitsMember">Skilled Nursing Properties with 336 Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith336UnitsMember" xlink:to="label_SkilledNursingPropertiesWith336UnitsMember" xlink:title="label: SkilledNursingPropertiesWith336UnitsMember to label_SkilledNursingPropertiesWith336UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith336UnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledNursingPropertiesWith336UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith336UnitsMember_2">336-bed skilled nursing property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith336UnitsMember" xlink:to="label_SkilledNursingPropertiesWith336UnitsMember_2" xlink:title="label: SkilledNursingPropertiesWith336UnitsMember to label_SkilledNursingPropertiesWith336UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith336UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledNursingPropertiesWith336UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith336UnitsMember_3">Represents information pertaining to skilled nursing facility properties comprising of 336 units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith336UnitsMember" xlink:to="label_SkilledNursingPropertiesWith336UnitsMember_3" xlink:title="label: SkilledNursingPropertiesWith336UnitsMember to label_SkilledNursingPropertiesWith336UnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RealEstateAndAccumulatedDepreciationTypeOfPropertyAxis" xlink:label="RealEstateAndAccumulatedDepreciationTypeOfPropertyAxis" xlink:title="RealEstateAndAccumulatedDepreciationTypeOfPropertyAxis" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationTypeOfPropertyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateAndAccumulatedDepreciationTypeOfPropertyAxis" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationTypeOfPropertyAxis">Real Estate and Accumulated Depreciation Type of Property [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateAndAccumulatedDepreciationTypeOfPropertyAxis" xlink:to="label_RealEstateAndAccumulatedDepreciationTypeOfPropertyAxis" xlink:title="label: RealEstateAndAccumulatedDepreciationTypeOfPropertyAxis to label_RealEstateAndAccumulatedDepreciationTypeOfPropertyAxis" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationTypeOfPropertyAxis_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RealEstateAndAccumulatedDepreciationTypeOfPropertyAxis" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationTypeOfPropertyAxis_2">The axis of a table defines the relationship between the domain members or categories in the table and the line items or concepts that complete the table.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateAndAccumulatedDepreciationTypeOfPropertyAxis" xlink:to="label_RealEstateAndAccumulatedDepreciationTypeOfPropertyAxis_2" xlink:title="label: RealEstateAndAccumulatedDepreciationTypeOfPropertyAxis to label_RealEstateAndAccumulatedDepreciationTypeOfPropertyAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RealEstateAndAccumulatedDepreciationTypeOfPropertyDomain" xlink:label="RealEstateAndAccumulatedDepreciationTypeOfPropertyDomain" xlink:title="RealEstateAndAccumulatedDepreciationTypeOfPropertyDomain" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationTypeOfPropertyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateAndAccumulatedDepreciationTypeOfPropertyDomain" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationTypeOfPropertyDomain">Real Estate and Accumulated Depreciation Type of Property [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateAndAccumulatedDepreciationTypeOfPropertyDomain" xlink:to="label_RealEstateAndAccumulatedDepreciationTypeOfPropertyDomain" xlink:title="label: RealEstateAndAccumulatedDepreciationTypeOfPropertyDomain to label_RealEstateAndAccumulatedDepreciationTypeOfPropertyDomain" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationTypeOfPropertyDomain_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RealEstateAndAccumulatedDepreciationTypeOfPropertyDomain" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationTypeOfPropertyDomain_2">The type of property, such as senior housing or medical office, for which the disaggregated information is being provided.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateAndAccumulatedDepreciationTypeOfPropertyDomain" xlink:to="label_RealEstateAndAccumulatedDepreciationTypeOfPropertyDomain_2" xlink:title="label: RealEstateAndAccumulatedDepreciationTypeOfPropertyDomain to label_RealEstateAndAccumulatedDepreciationTypeOfPropertyDomain" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledNursingPropertiesMember" xlink:label="SkilledNursingPropertiesMember" xlink:title="SkilledNursingPropertiesMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledNursingPropertiesMember" xml:lang="en-US" id="label_SkilledNursingPropertiesMember">Skilled Nursing</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesMember" xlink:to="label_SkilledNursingPropertiesMember" xlink:title="label: SkilledNursingPropertiesMember to label_SkilledNursingPropertiesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledNursingPropertiesMember" xml:lang="en-US" id="label_SkilledNursingPropertiesMember_2">Represents the information pertaining to skilled nursing facility properties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesMember" xlink:to="label_SkilledNursingPropertiesMember_2" xlink:title="label: SkilledNursingPropertiesMember to label_SkilledNursingPropertiesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledNursingPropertiesMember" xml:lang="en-US" id="label_SkilledNursingPropertiesMember_3">Skilled Nursing Properties [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesMember" xlink:to="label_SkilledNursingPropertiesMember_3" xlink:title="label: SkilledNursingPropertiesMember to label_SkilledNursingPropertiesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesMember_4" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_SkilledNursingPropertiesMember" xml:lang="en-US" id="label_SkilledNursingPropertiesMember_4">Skilled nursing properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesMember" xlink:to="label_SkilledNursingPropertiesMember_4" xlink:title="label: SkilledNursingPropertiesMember to label_SkilledNursingPropertiesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesMember_5" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_SkilledNursingPropertiesMember" xml:lang="en-US" id="label_SkilledNursingPropertiesMember_5">SNF</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesMember" xlink:to="label_SkilledNursingPropertiesMember_5" xlink:title="label: SkilledNursingPropertiesMember to label_SkilledNursingPropertiesMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledNursingPropertiesWith619UnitsMember" xlink:label="SkilledNursingPropertiesWith619UnitsMember" xlink:title="SkilledNursingPropertiesWith619UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith619UnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledNursingPropertiesWith619UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith619UnitsMember">Skilled Nursing Properties with 619 Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith619UnitsMember" xlink:to="label_SkilledNursingPropertiesWith619UnitsMember" xlink:title="label: SkilledNursingPropertiesWith619UnitsMember to label_SkilledNursingPropertiesWith619UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith619UnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledNursingPropertiesWith619UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith619UnitsMember_2">619-bed skilled nursing property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith619UnitsMember" xlink:to="label_SkilledNursingPropertiesWith619UnitsMember_2" xlink:title="label: SkilledNursingPropertiesWith619UnitsMember to label_SkilledNursingPropertiesWith619UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith619UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledNursingPropertiesWith619UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith619UnitsMember_3">Represents information pertaining to skilled nursing facility properties comprising of 619 units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith619UnitsMember" xlink:to="label_SkilledNursingPropertiesWith619UnitsMember_3" xlink:title="label: SkilledNursingPropertiesWith619UnitsMember to label_SkilledNursingPropertiesWith619UnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledNursingPropertiesWith785UnitsMember" xlink:label="SkilledNursingPropertiesWith785UnitsMember" xlink:title="SkilledNursingPropertiesWith785UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith785UnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledNursingPropertiesWith785UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith785UnitsMember">Skilled Nursing Properties with 785 Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith785UnitsMember" xlink:to="label_SkilledNursingPropertiesWith785UnitsMember" xlink:title="label: SkilledNursingPropertiesWith785UnitsMember to label_SkilledNursingPropertiesWith785UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith785UnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledNursingPropertiesWith785UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith785UnitsMember_2">785-bed skilled nursing property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith785UnitsMember" xlink:to="label_SkilledNursingPropertiesWith785UnitsMember_2" xlink:title="label: SkilledNursingPropertiesWith785UnitsMember to label_SkilledNursingPropertiesWith785UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith785UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledNursingPropertiesWith785UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith785UnitsMember_3">Represents information pertaining to skilled nursing facility properties comprising of 785 units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith785UnitsMember" xlink:to="label_SkilledNursingPropertiesWith785UnitsMember_3" xlink:title="label: SkilledNursingPropertiesWith785UnitsMember to label_SkilledNursingPropertiesWith785UnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledNursingPropertiesTwoMember" xlink:label="SkilledNursingPropertiesTwoMember" xlink:title="SkilledNursingPropertiesTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesTwoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledNursingPropertiesTwoMember" xml:lang="en-US" id="label_SkilledNursingPropertiesTwoMember">Skilled Nursing Properties Two [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesTwoMember" xlink:to="label_SkilledNursingPropertiesTwoMember" xlink:title="label: SkilledNursingPropertiesTwoMember to label_SkilledNursingPropertiesTwoMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesTwoMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledNursingPropertiesTwoMember" xml:lang="en-US" id="label_SkilledNursingPropertiesTwoMember_2">Skilled Nursing Two</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesTwoMember" xlink:to="label_SkilledNursingPropertiesTwoMember_2" xlink:title="label: SkilledNursingPropertiesTwoMember to label_SkilledNursingPropertiesTwoMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesTwoMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledNursingPropertiesTwoMember" xml:lang="en-US" id="label_SkilledNursingPropertiesTwoMember_3">Represents the information pertaining to skilled nursing facility properties, two.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesTwoMember" xlink:to="label_SkilledNursingPropertiesTwoMember_3" xlink:title="label: SkilledNursingPropertiesTwoMember to label_SkilledNursingPropertiesTwoMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_AssistedLivingPropertiesWith422UnitsMember" xlink:label="AssistedLivingPropertiesWith422UnitsMember" xlink:title="AssistedLivingPropertiesWith422UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingPropertiesWith422UnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssistedLivingPropertiesWith422UnitsMember" xml:lang="en-US" id="label_AssistedLivingPropertiesWith422UnitsMember">Assisted Living Properties with 422 Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingPropertiesWith422UnitsMember" xlink:to="label_AssistedLivingPropertiesWith422UnitsMember" xlink:title="label: AssistedLivingPropertiesWith422UnitsMember to label_AssistedLivingPropertiesWith422UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingPropertiesWith422UnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssistedLivingPropertiesWith422UnitsMember" xml:lang="en-US" id="label_AssistedLivingPropertiesWith422UnitsMember_2">422-units assisted living properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingPropertiesWith422UnitsMember" xlink:to="label_AssistedLivingPropertiesWith422UnitsMember_2" xlink:title="label: AssistedLivingPropertiesWith422UnitsMember to label_AssistedLivingPropertiesWith422UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingPropertiesWith422UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AssistedLivingPropertiesWith422UnitsMember" xml:lang="en-US" id="label_AssistedLivingPropertiesWith422UnitsMember_3">Represents information pertaining to assisted living properties comprising of 422 units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingPropertiesWith422UnitsMember" xlink:to="label_AssistedLivingPropertiesWith422UnitsMember_3" xlink:title="label: AssistedLivingPropertiesWith422UnitsMember to label_AssistedLivingPropertiesWith422UnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_AssistedLivingPropertiesMember" xlink:label="AssistedLivingPropertiesMember" xlink:title="AssistedLivingPropertiesMember" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingPropertiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AssistedLivingPropertiesMember" xml:lang="en-US" id="label_AssistedLivingPropertiesMember">Represents the information pertaining to assisted living properties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingPropertiesMember" xlink:to="label_AssistedLivingPropertiesMember" xlink:title="label: AssistedLivingPropertiesMember to label_AssistedLivingPropertiesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingPropertiesMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssistedLivingPropertiesMember" xml:lang="en-US" id="label_AssistedLivingPropertiesMember_2">Assisted Living Properties [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingPropertiesMember" xlink:to="label_AssistedLivingPropertiesMember_2" xlink:title="label: AssistedLivingPropertiesMember to label_AssistedLivingPropertiesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingPropertiesMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssistedLivingPropertiesMember" xml:lang="en-US" id="label_AssistedLivingPropertiesMember_3">Assisted Living</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingPropertiesMember" xlink:to="label_AssistedLivingPropertiesMember_3" xlink:title="label: AssistedLivingPropertiesMember to label_AssistedLivingPropertiesMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledNursingPropertiesWith458UnitsMember" xlink:label="SkilledNursingPropertiesWith458UnitsMember" xlink:title="SkilledNursingPropertiesWith458UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith458UnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledNursingPropertiesWith458UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith458UnitsMember">Skilled Nursing Properties with 458 Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith458UnitsMember" xlink:to="label_SkilledNursingPropertiesWith458UnitsMember" xlink:title="label: SkilledNursingPropertiesWith458UnitsMember to label_SkilledNursingPropertiesWith458UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith458UnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledNursingPropertiesWith458UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith458UnitsMember_2">458-bed skilled nursing property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith458UnitsMember" xlink:to="label_SkilledNursingPropertiesWith458UnitsMember_2" xlink:title="label: SkilledNursingPropertiesWith458UnitsMember to label_SkilledNursingPropertiesWith458UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith458UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledNursingPropertiesWith458UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith458UnitsMember_3">Represents information pertaining to the skilled nursing facility properties comprising of 458 units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith458UnitsMember" xlink:to="label_SkilledNursingPropertiesWith458UnitsMember_3" xlink:title="label: SkilledNursingPropertiesWith458UnitsMember to label_SkilledNursingPropertiesWith458UnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledNursingPropertiesWith120UnitsMember" xlink:label="SkilledNursingPropertiesWith120UnitsMember" xlink:title="SkilledNursingPropertiesWith120UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith120UnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledNursingPropertiesWith120UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith120UnitsMember">Skilled Nursing Properties with 120 Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith120UnitsMember" xlink:to="label_SkilledNursingPropertiesWith120UnitsMember" xlink:title="label: SkilledNursingPropertiesWith120UnitsMember to label_SkilledNursingPropertiesWith120UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith120UnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledNursingPropertiesWith120UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith120UnitsMember_2">120-bed skilled nursing property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith120UnitsMember" xlink:to="label_SkilledNursingPropertiesWith120UnitsMember_2" xlink:title="label: SkilledNursingPropertiesWith120UnitsMember to label_SkilledNursingPropertiesWith120UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith120UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledNursingPropertiesWith120UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith120UnitsMember_3">Represents the information pertaining to skilled nursing facility properties comprised of 120 units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith120UnitsMember" xlink:to="label_SkilledNursingPropertiesWith120UnitsMember_3" xlink:title="label: SkilledNursingPropertiesWith120UnitsMember to label_SkilledNursingPropertiesWith120UnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledNursingPropertyAssociatedWithRangeOfCarePropertyMember" xlink:label="SkilledNursingPropertyAssociatedWithRangeOfCarePropertyMember" xlink:title="SkilledNursingPropertyAssociatedWithRangeOfCarePropertyMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertyAssociatedWithRangeOfCarePropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledNursingPropertyAssociatedWithRangeOfCarePropertyMember" xml:lang="en-US" id="label_SkilledNursingPropertyAssociatedWithRangeOfCarePropertyMember">Skilled Nursing Property Associated with Range of Care Property [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertyAssociatedWithRangeOfCarePropertyMember" xlink:to="label_SkilledNursingPropertyAssociatedWithRangeOfCarePropertyMember" xlink:title="label: SkilledNursingPropertyAssociatedWithRangeOfCarePropertyMember to label_SkilledNursingPropertyAssociatedWithRangeOfCarePropertyMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertyAssociatedWithRangeOfCarePropertyMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledNursingPropertyAssociatedWithRangeOfCarePropertyMember" xml:lang="en-US" id="label_SkilledNursingPropertyAssociatedWithRangeOfCarePropertyMember_2">Skilled nursing property associated with the range of care property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertyAssociatedWithRangeOfCarePropertyMember" xlink:to="label_SkilledNursingPropertyAssociatedWithRangeOfCarePropertyMember_2" xlink:title="label: SkilledNursingPropertyAssociatedWithRangeOfCarePropertyMember to label_SkilledNursingPropertyAssociatedWithRangeOfCarePropertyMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertyAssociatedWithRangeOfCarePropertyMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledNursingPropertyAssociatedWithRangeOfCarePropertyMember" xml:lang="en-US" id="label_SkilledNursingPropertyAssociatedWithRangeOfCarePropertyMember_3">Represents information pertaining to the skilled nursing facility properties comprising of 120 units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertyAssociatedWithRangeOfCarePropertyMember" xlink:to="label_SkilledNursingPropertyAssociatedWithRangeOfCarePropertyMember_3" xlink:title="label: SkilledNursingPropertyAssociatedWithRangeOfCarePropertyMember to label_SkilledNursingPropertyAssociatedWithRangeOfCarePropertyMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_OtherSeniorHousingPropertiesMember" xlink:label="OtherSeniorHousingPropertiesMember" xlink:title="OtherSeniorHousingPropertiesMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherSeniorHousingPropertiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherSeniorHousingPropertiesMember" xml:lang="en-US" id="label_OtherSeniorHousingPropertiesMember">Other Senior Housing</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherSeniorHousingPropertiesMember" xlink:to="label_OtherSeniorHousingPropertiesMember" xlink:title="label: OtherSeniorHousingPropertiesMember to label_OtherSeniorHousingPropertiesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OtherSeniorHousingPropertiesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherSeniorHousingPropertiesMember" xml:lang="en-US" id="label_OtherSeniorHousingPropertiesMember_2">Represents the information pertaining to other senior housing properties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherSeniorHousingPropertiesMember" xlink:to="label_OtherSeniorHousingPropertiesMember_2" xlink:title="label: OtherSeniorHousingPropertiesMember to label_OtherSeniorHousingPropertiesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OtherSeniorHousingPropertiesMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherSeniorHousingPropertiesMember" xml:lang="en-US" id="label_OtherSeniorHousingPropertiesMember_3">Other Senior Housing Properties [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherSeniorHousingPropertiesMember" xlink:to="label_OtherSeniorHousingPropertiesMember_3" xlink:title="label: OtherSeniorHousingPropertiesMember to label_OtherSeniorHousingPropertiesMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledNursingPropertiesAndAssistedLivingPropertiesMember" xlink:label="SkilledNursingPropertiesAndAssistedLivingPropertiesMember" xlink:title="SkilledNursingPropertiesAndAssistedLivingPropertiesMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesAndAssistedLivingPropertiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledNursingPropertiesAndAssistedLivingPropertiesMember" xml:lang="en-US" id="label_SkilledNursingPropertiesAndAssistedLivingPropertiesMember">Skilled Nursing Properties and Assisted Living Properties [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesAndAssistedLivingPropertiesMember" xlink:to="label_SkilledNursingPropertiesAndAssistedLivingPropertiesMember" xlink:title="label: SkilledNursingPropertiesAndAssistedLivingPropertiesMember to label_SkilledNursingPropertiesAndAssistedLivingPropertiesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesAndAssistedLivingPropertiesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledNursingPropertiesAndAssistedLivingPropertiesMember" xml:lang="en-US" id="label_SkilledNursingPropertiesAndAssistedLivingPropertiesMember_2">Represents the information pertaining to skilled nursing facility properties and assisted living properties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesAndAssistedLivingPropertiesMember" xlink:to="label_SkilledNursingPropertiesAndAssistedLivingPropertiesMember_2" xlink:title="label: SkilledNursingPropertiesAndAssistedLivingPropertiesMember to label_SkilledNursingPropertiesAndAssistedLivingPropertiesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesAndAssistedLivingPropertiesMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledNursingPropertiesAndAssistedLivingPropertiesMember" xml:lang="en-US" id="label_SkilledNursingPropertiesAndAssistedLivingPropertiesMember_3">Skilled Nursing and Assisted Living</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesAndAssistedLivingPropertiesMember" xlink:to="label_SkilledNursingPropertiesAndAssistedLivingPropertiesMember_3" xlink:title="label: SkilledNursingPropertiesAndAssistedLivingPropertiesMember to label_SkilledNursingPropertiesAndAssistedLivingPropertiesMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_AssistedLivingAndMemoryCarePropertiesMember" xlink:label="AssistedLivingAndMemoryCarePropertiesMember" xlink:title="AssistedLivingAndMemoryCarePropertiesMember" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingAndMemoryCarePropertiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssistedLivingAndMemoryCarePropertiesMember" xml:lang="en-US" id="label_AssistedLivingAndMemoryCarePropertiesMember">Assisted Living and Memory Care Properties [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingAndMemoryCarePropertiesMember" xlink:to="label_AssistedLivingAndMemoryCarePropertiesMember" xlink:title="label: AssistedLivingAndMemoryCarePropertiesMember to label_AssistedLivingAndMemoryCarePropertiesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingAndMemoryCarePropertiesMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssistedLivingAndMemoryCarePropertiesMember" xml:lang="en-US" id="label_AssistedLivingAndMemoryCarePropertiesMember_2">Assisted living and Memory care property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingAndMemoryCarePropertiesMember" xlink:to="label_AssistedLivingAndMemoryCarePropertiesMember_2" xlink:title="label: AssistedLivingAndMemoryCarePropertiesMember to label_AssistedLivingAndMemoryCarePropertiesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingAndMemoryCarePropertiesMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AssistedLivingAndMemoryCarePropertiesMember" xml:lang="en-US" id="label_AssistedLivingAndMemoryCarePropertiesMember_3">Represents information pertaining to assisted living and memory care properties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingAndMemoryCarePropertiesMember" xlink:to="label_AssistedLivingAndMemoryCarePropertiesMember_3" xlink:title="label: AssistedLivingAndMemoryCarePropertiesMember to label_AssistedLivingAndMemoryCarePropertiesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingAndMemoryCarePropertiesMember_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_AssistedLivingAndMemoryCarePropertiesMember" xml:lang="en-US" id="label_AssistedLivingAndMemoryCarePropertiesMember_4">Assisted living and Memory care property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingAndMemoryCarePropertiesMember" xlink:to="label_AssistedLivingAndMemoryCarePropertiesMember_4" xlink:title="label: AssistedLivingAndMemoryCarePropertiesMember to label_AssistedLivingAndMemoryCarePropertiesMember" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SchoolMember" xlink:label="SchoolMember" xlink:title="SchoolMember" />
    <link:label xlink:type="resource" xlink:label="label_SchoolMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SchoolMember" xml:lang="en-US" id="label_SchoolMember">Represents the information pertaining to School.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SchoolMember" xlink:to="label_SchoolMember" xlink:title="label: SchoolMember to label_SchoolMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SchoolMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SchoolMember" xml:lang="en-US" id="label_SchoolMember_2">School [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SchoolMember" xlink:to="label_SchoolMember_2" xlink:title="label: SchoolMember to label_SchoolMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SchoolMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SchoolMember" xml:lang="en-US" id="label_SchoolMember_3">School</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SchoolMember" xlink:to="label_SchoolMember_3" xlink:title="label: SchoolMember to label_SchoolMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NumberOfRealEstatePropertiesBackingSingleNote" xlink:label="NumberOfRealEstatePropertiesBackingSingleNote" xlink:title="NumberOfRealEstatePropertiesBackingSingleNote" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfRealEstatePropertiesBackingSingleNote" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfRealEstatePropertiesBackingSingleNote" xml:lang="en-US" id="label_NumberOfRealEstatePropertiesBackingSingleNote">Number of Real Estate Properties Backing Single Note</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfRealEstatePropertiesBackingSingleNote" xlink:to="label_NumberOfRealEstatePropertiesBackingSingleNote" xlink:title="label: NumberOfRealEstatePropertiesBackingSingleNote to label_NumberOfRealEstatePropertiesBackingSingleNote" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfRealEstatePropertiesBackingSingleNote_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfRealEstatePropertiesBackingSingleNote" xml:lang="en-US" id="label_NumberOfRealEstatePropertiesBackingSingleNote_2">Number of real estate properties backing single note</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfRealEstatePropertiesBackingSingleNote" xlink:to="label_NumberOfRealEstatePropertiesBackingSingleNote_2" xlink:title="label: NumberOfRealEstatePropertiesBackingSingleNote to label_NumberOfRealEstatePropertiesBackingSingleNote" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfRealEstatePropertiesBackingSingleNote_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfRealEstatePropertiesBackingSingleNote" xml:lang="en-US" id="label_NumberOfRealEstatePropertiesBackingSingleNote_3">Represent the number of real estate properties backing single note.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfRealEstatePropertiesBackingSingleNote" xlink:to="label_NumberOfRealEstatePropertiesBackingSingleNote_3" xlink:title="label: NumberOfRealEstatePropertiesBackingSingleNote to label_NumberOfRealEstatePropertiesBackingSingleNote" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NumberOfAssetsImpaired" xlink:label="NumberOfAssetsImpaired" xlink:title="NumberOfAssetsImpaired" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfAssetsImpaired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfAssetsImpaired" xml:lang="en-US" id="label_NumberOfAssetsImpaired">Number of Assets Impaired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfAssetsImpaired" xlink:to="label_NumberOfAssetsImpaired" xlink:title="label: NumberOfAssetsImpaired to label_NumberOfAssetsImpaired" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfAssetsImpaired_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfAssetsImpaired" xml:lang="en-US" id="label_NumberOfAssetsImpaired_2">Number of assets impaired (in properties)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfAssetsImpaired" xlink:to="label_NumberOfAssetsImpaired_2" xlink:title="label: NumberOfAssetsImpaired to label_NumberOfAssetsImpaired" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfAssetsImpaired_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfAssetsImpaired" xml:lang="en-US" id="label_NumberOfAssetsImpaired_3">Represents the number of assets impaired.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfAssetsImpaired" xlink:to="label_NumberOfAssetsImpaired_3" xlink:title="label: NumberOfAssetsImpaired to label_NumberOfAssetsImpaired" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RealEstateAccumulatedDepreciationImpairmentCharges" xlink:label="RealEstateAccumulatedDepreciationImpairmentCharges" xlink:title="RealEstateAccumulatedDepreciationImpairmentCharges" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAccumulatedDepreciationImpairmentCharges" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateAccumulatedDepreciationImpairmentCharges" xml:lang="en-US" id="label_RealEstateAccumulatedDepreciationImpairmentCharges">Real Estate, Accumulated Depreciation, Impairment Charges</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateAccumulatedDepreciationImpairmentCharges" xlink:to="label_RealEstateAccumulatedDepreciationImpairmentCharges" xlink:title="label: RealEstateAccumulatedDepreciationImpairmentCharges to label_RealEstateAccumulatedDepreciationImpairmentCharges" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAccumulatedDepreciationImpairmentCharges_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateAccumulatedDepreciationImpairmentCharges" xml:lang="en-US" id="label_RealEstateAccumulatedDepreciationImpairmentCharges_2">Impairment charges</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateAccumulatedDepreciationImpairmentCharges" xlink:to="label_RealEstateAccumulatedDepreciationImpairmentCharges_2" xlink:title="label: RealEstateAccumulatedDepreciationImpairmentCharges to label_RealEstateAccumulatedDepreciationImpairmentCharges" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAccumulatedDepreciationImpairmentCharges_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RealEstateAccumulatedDepreciationImpairmentCharges" xml:lang="en-US" id="label_RealEstateAccumulatedDepreciationImpairmentCharges_3">The amount that is added to or removed from Accumulated Depreciation pertaining to Impairment Charges in the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateAccumulatedDepreciationImpairmentCharges" xlink:to="label_RealEstateAccumulatedDepreciationImpairmentCharges_3" xlink:title="label: RealEstateAccumulatedDepreciationImpairmentCharges to label_RealEstateAccumulatedDepreciationImpairmentCharges" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_OtherSeniorHousingProperties1Member" xlink:label="OtherSeniorHousingProperties1Member" xlink:title="OtherSeniorHousingProperties1Member" />
    <link:label xlink:type="resource" xlink:label="label_OtherSeniorHousingProperties1Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherSeniorHousingProperties1Member" xml:lang="en-US" id="label_OtherSeniorHousingProperties1Member">Other Senior Housing Properties1 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherSeniorHousingProperties1Member" xlink:to="label_OtherSeniorHousingProperties1Member" xlink:title="label: OtherSeniorHousingProperties1Member to label_OtherSeniorHousingProperties1Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OtherSeniorHousingProperties1Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherSeniorHousingProperties1Member" xml:lang="en-US" id="label_OtherSeniorHousingProperties1Member_2">Other Senior Housing</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherSeniorHousingProperties1Member" xlink:to="label_OtherSeniorHousingProperties1Member_2" xlink:title="label: OtherSeniorHousingProperties1Member to label_OtherSeniorHousingProperties1Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OtherSeniorHousingProperties1Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherSeniorHousingProperties1Member" xml:lang="en-US" id="label_OtherSeniorHousingProperties1Member_3">Represents the information pertaining to other senior housing properties which consist of independent living properties and properties providing any combination of skilled nursing, assisted living and/or independent living services.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherSeniorHousingProperties1Member" xlink:to="label_OtherSeniorHousingProperties1Member_3" xlink:title="label: OtherSeniorHousingProperties1Member to label_OtherSeniorHousingProperties1Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateByLocationOfPropertyAxis" xlink:label="MortgageLoansOnRealEstateByLocationOfPropertyAxis" xlink:title="MortgageLoansOnRealEstateByLocationOfPropertyAxis" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateByLocationOfPropertyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateByLocationOfPropertyAxis" xml:lang="en-US" id="label_MortgageLoansOnRealEstateByLocationOfPropertyAxis">Mortgage Loans on Real Estate, by Location of Property [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateByLocationOfPropertyAxis" xlink:to="label_MortgageLoansOnRealEstateByLocationOfPropertyAxis" xlink:title="label: MortgageLoansOnRealEstateByLocationOfPropertyAxis to label_MortgageLoansOnRealEstateByLocationOfPropertyAxis" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateByLocationOfPropertyAxis_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateByLocationOfPropertyAxis" xml:lang="en-US" id="label_MortgageLoansOnRealEstateByLocationOfPropertyAxis_2">A categorization of mortgage loans on real estate by the location of the underlying real estate properties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateByLocationOfPropertyAxis" xlink:to="label_MortgageLoansOnRealEstateByLocationOfPropertyAxis_2" xlink:title="label: MortgageLoansOnRealEstateByLocationOfPropertyAxis to label_MortgageLoansOnRealEstateByLocationOfPropertyAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_VariousStatesMember" xlink:label="VariousStatesMember" xlink:title="VariousStatesMember" />
    <link:label xlink:type="resource" xlink:label="label_VariousStatesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_VariousStatesMember" xml:lang="en-US" id="label_VariousStatesMember">Represents a collection of various states in the United States.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VariousStatesMember" xlink:to="label_VariousStatesMember" xlink:title="label: VariousStatesMember to label_VariousStatesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_VariousStatesMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_VariousStatesMember" xml:lang="en-US" id="label_VariousStatesMember_2">Various</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VariousStatesMember" xlink:to="label_VariousStatesMember_2" xlink:title="label: VariousStatesMember to label_VariousStatesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_VariousStatesMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_VariousStatesMember" xml:lang="en-US" id="label_VariousStatesMember_3">Various States [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VariousStatesMember" xlink:to="label_VariousStatesMember_3" xlink:title="label: VariousStatesMember to label_VariousStatesMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateByMaturityOfLoansAxis" xlink:label="MortgageLoansOnRealEstateByMaturityOfLoansAxis" xlink:title="MortgageLoansOnRealEstateByMaturityOfLoansAxis" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateByMaturityOfLoansAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateByMaturityOfLoansAxis" xml:lang="en-US" id="label_MortgageLoansOnRealEstateByMaturityOfLoansAxis">Mortgage Loans on Real Estate, by Maturity of Loans [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateByMaturityOfLoansAxis" xlink:to="label_MortgageLoansOnRealEstateByMaturityOfLoansAxis" xlink:title="label: MortgageLoansOnRealEstateByMaturityOfLoansAxis to label_MortgageLoansOnRealEstateByMaturityOfLoansAxis" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateByMaturityOfLoansAxis_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateByMaturityOfLoansAxis" xml:lang="en-US" id="label_MortgageLoansOnRealEstateByMaturityOfLoansAxis_2">A categorization of mortgage loans on real estate by the maturity of the loans.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateByMaturityOfLoansAxis" xlink:to="label_MortgageLoansOnRealEstateByMaturityOfLoansAxis_2" xlink:title="label: MortgageLoansOnRealEstateByMaturityOfLoansAxis to label_MortgageLoansOnRealEstateByMaturityOfLoansAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateMaturitiesOfLoansDomain" xlink:label="MortgageLoansOnRealEstateMaturitiesOfLoansDomain" xlink:title="MortgageLoansOnRealEstateMaturitiesOfLoansDomain" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturitiesOfLoansDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateMaturitiesOfLoansDomain" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturitiesOfLoansDomain">Mortgage Loans on Real Estate, Maturities of Loans [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturitiesOfLoansDomain" xlink:to="label_MortgageLoansOnRealEstateMaturitiesOfLoansDomain" xlink:title="label: MortgageLoansOnRealEstateMaturitiesOfLoansDomain to label_MortgageLoansOnRealEstateMaturitiesOfLoansDomain" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturitiesOfLoansDomain_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateMaturitiesOfLoansDomain" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturitiesOfLoansDomain_2">A group of mortgage loans on real estate having different maturity dates.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturitiesOfLoansDomain" xlink:to="label_MortgageLoansOnRealEstateMaturitiesOfLoansDomain_2" xlink:title="label: MortgageLoansOnRealEstateMaturitiesOfLoansDomain to label_MortgageLoansOnRealEstateMaturitiesOfLoansDomain" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateMaturingIn2018Member" xlink:label="MortgageLoansOnRealEstateMaturingIn2018Member" xlink:title="MortgageLoansOnRealEstateMaturingIn2018Member" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2018Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2018Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2018Member">Represents the mortgage loans on real estate maturing in 2018.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2018Member" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2018Member" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2018Member to label_MortgageLoansOnRealEstateMaturingIn2018Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2018Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2018Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2018Member_2">Mortgage Loans on Real Estate Maturing in 2018 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2018Member" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2018Member_2" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2018Member to label_MortgageLoansOnRealEstateMaturingIn2018Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2018Member_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2018Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2018Member_3">Final maturity date in 2018</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2018Member" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2018Member_3" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2018Member to label_MortgageLoansOnRealEstateMaturingIn2018Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateMaturingIn2014Member" xlink:label="MortgageLoansOnRealEstateMaturingIn2014Member" xlink:title="MortgageLoansOnRealEstateMaturingIn2014Member" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2014Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2014Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2014Member">Represents the mortgage loans on real estate maturing in 2014.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2014Member" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2014Member" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2014Member to label_MortgageLoansOnRealEstateMaturingIn2014Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2014Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2014Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2014Member_2">Mortgage Loans on Real Estate Maturing in 2014 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2014Member" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2014Member_2" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2014Member to label_MortgageLoansOnRealEstateMaturingIn2014Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2014Member_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2014Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2014Member_3">Final maturity date in 2014</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2014Member" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2014Member_3" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2014Member to label_MortgageLoansOnRealEstateMaturingIn2014Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateMaturingIn2017Member" xlink:label="MortgageLoansOnRealEstateMaturingIn2017Member" xlink:title="MortgageLoansOnRealEstateMaturingIn2017Member" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2017Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2017Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2017Member">Represents the mortgage loans on real estate maturing in 2017.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2017Member" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2017Member" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2017Member to label_MortgageLoansOnRealEstateMaturingIn2017Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2017Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2017Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2017Member_2">Mortgage Loans on Real Estate Maturing in 2017 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2017Member" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2017Member_2" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2017Member to label_MortgageLoansOnRealEstateMaturingIn2017Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2017Member_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2017Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2017Member_3">Final maturity date in 2017</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2017Member" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2017Member_3" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2017Member to label_MortgageLoansOnRealEstateMaturingIn2017Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateMaturingIn2015Member" xlink:label="MortgageLoansOnRealEstateMaturingIn2015Member" xlink:title="MortgageLoansOnRealEstateMaturingIn2015Member" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2015Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2015Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2015Member">Represents the mortgage loans on real estate maturing in 2015.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2015Member" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2015Member" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2015Member to label_MortgageLoansOnRealEstateMaturingIn2015Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2015Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2015Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2015Member_2">Mortgage Loans on Real Estate Maturing in 2015 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2015Member" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2015Member_2" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2015Member to label_MortgageLoansOnRealEstateMaturingIn2015Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2015Member_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2015Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2015Member_3">Final maturity date in 2015</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2015Member" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2015Member_3" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2015Member to label_MortgageLoansOnRealEstateMaturingIn2015Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateMaturingIn2013FirstMember" xlink:label="MortgageLoansOnRealEstateMaturingIn2013FirstMember" xlink:title="MortgageLoansOnRealEstateMaturingIn2013FirstMember" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2013FirstMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2013FirstMember" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2013FirstMember">Represents the first of a series of mortgage loans on real estate maturing 2013.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2013FirstMember" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2013FirstMember" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2013FirstMember to label_MortgageLoansOnRealEstateMaturingIn2013FirstMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2013FirstMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2013FirstMember" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2013FirstMember_2">Mortgage Loans on Real Estate Maturing in 2013 First [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2013FirstMember" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2013FirstMember_2" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2013FirstMember to label_MortgageLoansOnRealEstateMaturingIn2013FirstMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2013FirstMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2013FirstMember" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2013FirstMember_3">Final maturity date in 2013, first</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2013FirstMember" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2013FirstMember_3" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2013FirstMember to label_MortgageLoansOnRealEstateMaturingIn2013FirstMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateMaturingIn2013SecondMember" xlink:label="MortgageLoansOnRealEstateMaturingIn2013SecondMember" xlink:title="MortgageLoansOnRealEstateMaturingIn2013SecondMember" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2013SecondMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2013SecondMember" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2013SecondMember">Represents the second of a series of mortgage loans on real estate maturing 2013.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2013SecondMember" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2013SecondMember" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2013SecondMember to label_MortgageLoansOnRealEstateMaturingIn2013SecondMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2013SecondMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2013SecondMember" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2013SecondMember_2">Mortgage Loans on Real Estate Maturing in 2013 Second [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2013SecondMember" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2013SecondMember_2" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2013SecondMember to label_MortgageLoansOnRealEstateMaturingIn2013SecondMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2013SecondMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2013SecondMember" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2013SecondMember_3">Final maturity date in 2013, second</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2013SecondMember" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2013SecondMember_3" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2013SecondMember to label_MortgageLoansOnRealEstateMaturingIn2013SecondMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateMaturingIn2022Member" xlink:label="MortgageLoansOnRealEstateMaturingIn2022Member" xlink:title="MortgageLoansOnRealEstateMaturingIn2022Member" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2022Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2022Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2022Member">Mortgage Loans on Real Estate Maturing in 2022 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2022Member" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2022Member" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2022Member to label_MortgageLoansOnRealEstateMaturingIn2022Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2022Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2022Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2022Member_2">Final maturity date in 2022</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2022Member" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2022Member_2" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2022Member to label_MortgageLoansOnRealEstateMaturingIn2022Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2022Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2022Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2022Member_3">Represents the mortgage loans on real estate maturing in 2022.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2022Member" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2022Member_3" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2022Member to label_MortgageLoansOnRealEstateMaturingIn2022Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateMaturingIn2019Member" xlink:label="MortgageLoansOnRealEstateMaturingIn2019Member" xlink:title="MortgageLoansOnRealEstateMaturingIn2019Member" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2019Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2019Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2019Member">Mortgage Loans on Real Estate Maturing in 2019 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2019Member" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2019Member" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2019Member to label_MortgageLoansOnRealEstateMaturingIn2019Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2019Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2019Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2019Member_2">Final maturity date in 2019</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2019Member" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2019Member_2" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2019Member to label_MortgageLoansOnRealEstateMaturingIn2019Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2019Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2019Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2019Member_3">Represents the mortgage loans on real estate maturing in 2019.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2019Member" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2019Member_3" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2019Member to label_MortgageLoansOnRealEstateMaturingIn2019Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateMaturingBetween2014To2018Member" xlink:label="MortgageLoansOnRealEstateMaturingBetween2014To2018Member" xlink:title="MortgageLoansOnRealEstateMaturingBetween2014To2018Member" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingBetween2014To2018Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateMaturingBetween2014To2018Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingBetween2014To2018Member">Mortgage Loans on Real Estate Maturing between 2014 to 2018 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingBetween2014To2018Member" xlink:to="label_MortgageLoansOnRealEstateMaturingBetween2014To2018Member" xlink:title="label: MortgageLoansOnRealEstateMaturingBetween2014To2018Member to label_MortgageLoansOnRealEstateMaturingBetween2014To2018Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingBetween2014To2018Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateMaturingBetween2014To2018Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingBetween2014To2018Member_2">Final maturity dates between 2014-2018</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingBetween2014To2018Member" xlink:to="label_MortgageLoansOnRealEstateMaturingBetween2014To2018Member_2" xlink:title="label: MortgageLoansOnRealEstateMaturingBetween2014To2018Member to label_MortgageLoansOnRealEstateMaturingBetween2014To2018Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingBetween2014To2018Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateMaturingBetween2014To2018Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingBetween2014To2018Member_3">Represents the various first mortgage loans on real estate maturing between the years 2014 and 2018.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingBetween2014To2018Member" xlink:to="label_MortgageLoansOnRealEstateMaturingBetween2014To2018Member_3" xlink:title="label: MortgageLoansOnRealEstateMaturingBetween2014To2018Member to label_MortgageLoansOnRealEstateMaturingBetween2014To2018Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateMaturingIn2013Member" xlink:label="MortgageLoansOnRealEstateMaturingIn2013Member" xlink:title="MortgageLoansOnRealEstateMaturingIn2013Member" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2013Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2013Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2013Member">Represents the mortgage loans on real estate maturing in 2013.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2013Member" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2013Member" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2013Member to label_MortgageLoansOnRealEstateMaturingIn2013Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2013Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2013Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2013Member_2">Mortgage Loans on Real Estate Maturing in 2013 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2013Member" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2013Member_2" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2013Member to label_MortgageLoansOnRealEstateMaturingIn2013Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2013Member_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2013Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2013Member_3">Final maturity date in 2013</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2013Member" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2013Member_3" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2013Member to label_MortgageLoansOnRealEstateMaturingIn2013Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateMaturingIn2012Member" xlink:label="MortgageLoansOnRealEstateMaturingIn2012Member" xlink:title="MortgageLoansOnRealEstateMaturingIn2012Member" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2012Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2012Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2012Member">Represents the mortgage loans on real estate maturing in 2012.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2012Member" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2012Member" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2012Member to label_MortgageLoansOnRealEstateMaturingIn2012Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2012Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2012Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2012Member_2">Mortgage Loans on Real Estate Maturing in 2012 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2012Member" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2012Member_2" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2012Member to label_MortgageLoansOnRealEstateMaturingIn2012Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2012Member_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2012Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2012Member_3">Final maturity date in 2012</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2012Member" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2012Member_3" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2012Member to label_MortgageLoansOnRealEstateMaturingIn2012Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateMaturingIn2017FirstMember" xlink:label="MortgageLoansOnRealEstateMaturingIn2017FirstMember" xlink:title="MortgageLoansOnRealEstateMaturingIn2017FirstMember" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2017FirstMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2017FirstMember" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2017FirstMember">Represents the first of a series of mortgage loans on real estate maturing 2017.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2017FirstMember" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2017FirstMember" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2017FirstMember to label_MortgageLoansOnRealEstateMaturingIn2017FirstMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2017FirstMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2017FirstMember" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2017FirstMember_2">Mortgage Loans on Real Estate Maturing in 2017 First [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2017FirstMember" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2017FirstMember_2" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2017FirstMember to label_MortgageLoansOnRealEstateMaturingIn2017FirstMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2017FirstMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2017FirstMember" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2017FirstMember_3">Final maturity date in 2017, first</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2017FirstMember" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2017FirstMember_3" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2017FirstMember to label_MortgageLoansOnRealEstateMaturingIn2017FirstMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateMaturingBetween2011To2019Member" xlink:label="MortgageLoansOnRealEstateMaturingBetween2011To2019Member" xlink:title="MortgageLoansOnRealEstateMaturingBetween2011To2019Member" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingBetween2011To2019Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateMaturingBetween2011To2019Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingBetween2011To2019Member">Represents the various mortgage loans on real estate maturing between the years 2012 and 2019.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingBetween2011To2019Member" xlink:to="label_MortgageLoansOnRealEstateMaturingBetween2011To2019Member" xlink:title="label: MortgageLoansOnRealEstateMaturingBetween2011To2019Member to label_MortgageLoansOnRealEstateMaturingBetween2011To2019Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingBetween2011To2019Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateMaturingBetween2011To2019Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingBetween2011To2019Member_2">Mortgage Loans on Real Estate Maturing between 2011 to 2019 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingBetween2011To2019Member" xlink:to="label_MortgageLoansOnRealEstateMaturingBetween2011To2019Member_2" xlink:title="label: MortgageLoansOnRealEstateMaturingBetween2011To2019Member to label_MortgageLoansOnRealEstateMaturingBetween2011To2019Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingBetween2011To2019Member_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateMaturingBetween2011To2019Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingBetween2011To2019Member_3">Final maturity dates between 2011-2019</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingBetween2011To2019Member" xlink:to="label_MortgageLoansOnRealEstateMaturingBetween2011To2019Member_3" xlink:title="label: MortgageLoansOnRealEstateMaturingBetween2011To2019Member to label_MortgageLoansOnRealEstateMaturingBetween2011To2019Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateMaturingIn2013ThirdMember" xlink:label="MortgageLoansOnRealEstateMaturingIn2013ThirdMember" xlink:title="MortgageLoansOnRealEstateMaturingIn2013ThirdMember" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2013ThirdMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2013ThirdMember" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2013ThirdMember">Mortgage Loans on Real Estate Maturing in 2013 Third [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2013ThirdMember" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2013ThirdMember" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2013ThirdMember to label_MortgageLoansOnRealEstateMaturingIn2013ThirdMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2013ThirdMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2013ThirdMember" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2013ThirdMember_2">Final maturity date in 2013, third</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2013ThirdMember" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2013ThirdMember_2" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2013ThirdMember to label_MortgageLoansOnRealEstateMaturingIn2013ThirdMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2013ThirdMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2013ThirdMember" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2013ThirdMember_3">Represents the third of a series of mortgage loans on real estate maturing 2013.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2013ThirdMember" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2013ThirdMember_3" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2013ThirdMember to label_MortgageLoansOnRealEstateMaturingIn2013ThirdMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateMaturingIn2017SecondMember" xlink:label="MortgageLoansOnRealEstateMaturingIn2017SecondMember" xlink:title="MortgageLoansOnRealEstateMaturingIn2017SecondMember" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2017SecondMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2017SecondMember" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2017SecondMember">Mortgage Loans on Real Estate Maturing in 2017 Second [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2017SecondMember" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2017SecondMember" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2017SecondMember to label_MortgageLoansOnRealEstateMaturingIn2017SecondMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2017SecondMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2017SecondMember" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2017SecondMember_2">Represents the second of a series of mortgage loans on real estate maturing 2017.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2017SecondMember" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2017SecondMember_2" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2017SecondMember to label_MortgageLoansOnRealEstateMaturingIn2017SecondMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingIn2017SecondMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateMaturingIn2017SecondMember" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingIn2017SecondMember_3">Final maturity date in 2017, second</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingIn2017SecondMember" xlink:to="label_MortgageLoansOnRealEstateMaturingIn2017SecondMember_3" xlink:title="label: MortgageLoansOnRealEstateMaturingIn2017SecondMember to label_MortgageLoansOnRealEstateMaturingIn2017SecondMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateCurrentMonthlyDebtService" xlink:label="MortgageLoansOnRealEstateCurrentMonthlyDebtService" xlink:title="MortgageLoansOnRealEstateCurrentMonthlyDebtService" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateCurrentMonthlyDebtService" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateCurrentMonthlyDebtService" xml:lang="en-US" id="label_MortgageLoansOnRealEstateCurrentMonthlyDebtService">Mortgage Loans on Real Estate, Current Monthly Debt Service</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateCurrentMonthlyDebtService" xlink:to="label_MortgageLoansOnRealEstateCurrentMonthlyDebtService" xlink:title="label: MortgageLoansOnRealEstateCurrentMonthlyDebtService to label_MortgageLoansOnRealEstateCurrentMonthlyDebtService" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateCurrentMonthlyDebtService_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateCurrentMonthlyDebtService" xml:lang="en-US" id="label_MortgageLoansOnRealEstateCurrentMonthlyDebtService_2">Current Monthly Debt Service</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateCurrentMonthlyDebtService" xlink:to="label_MortgageLoansOnRealEstateCurrentMonthlyDebtService_2" xlink:title="label: MortgageLoansOnRealEstateCurrentMonthlyDebtService to label_MortgageLoansOnRealEstateCurrentMonthlyDebtService" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateCurrentMonthlyDebtService_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateCurrentMonthlyDebtService" xml:lang="en-US" id="label_MortgageLoansOnRealEstateCurrentMonthlyDebtService_3">Represents the amount of current monthly debt service on mortgage loans on real estate.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateCurrentMonthlyDebtService" xlink:to="label_MortgageLoansOnRealEstateCurrentMonthlyDebtService_3" xlink:title="label: MortgageLoansOnRealEstateCurrentMonthlyDebtService to label_MortgageLoansOnRealEstateCurrentMonthlyDebtService" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateAmortizationTerm" xlink:label="MortgageLoansOnRealEstateAmortizationTerm" xlink:title="MortgageLoansOnRealEstateAmortizationTerm" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateAmortizationTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateAmortizationTerm" xml:lang="en-US" id="label_MortgageLoansOnRealEstateAmortizationTerm">Mortgage Loans on Real Estate, Amortization Term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateAmortizationTerm" xlink:to="label_MortgageLoansOnRealEstateAmortizationTerm" xlink:title="label: MortgageLoansOnRealEstateAmortizationTerm to label_MortgageLoansOnRealEstateAmortizationTerm" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateAmortizationTerm_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateAmortizationTerm" xml:lang="en-US" id="label_MortgageLoansOnRealEstateAmortizationTerm_2">Amortization period of mortgage loans</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateAmortizationTerm" xlink:to="label_MortgageLoansOnRealEstateAmortizationTerm_2" xlink:title="label: MortgageLoansOnRealEstateAmortizationTerm to label_MortgageLoansOnRealEstateAmortizationTerm" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateAmortizationTerm_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateAmortizationTerm" xml:lang="en-US" id="label_MortgageLoansOnRealEstateAmortizationTerm_3">Represents the period over which the mortgage loans on real estate property will be amortized.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateAmortizationTerm" xlink:to="label_MortgageLoansOnRealEstateAmortizationTerm_3" xlink:title="label: MortgageLoansOnRealEstateAmortizationTerm to label_MortgageLoansOnRealEstateAmortizationTerm" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansBetween500000And2000000Member" xlink:label="MortgageLoansBetween500000And2000000Member" xlink:title="MortgageLoansBetween500000And2000000Member" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansBetween500000And2000000Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansBetween500000And2000000Member" xml:lang="en-US" id="label_MortgageLoansBetween500000And2000000Member">Real estate mortgage loans with an original loan amount between $500,000 and $2,000,000.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansBetween500000And2000000Member" xlink:to="label_MortgageLoansBetween500000And2000000Member" xlink:title="label: MortgageLoansBetween500000And2000000Member to label_MortgageLoansBetween500000And2000000Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansBetween500000And2000000Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansBetween500000And2000000Member" xml:lang="en-US" id="label_MortgageLoansBetween500000And2000000Member_2">Original loan amounts between $500 - $2,000</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansBetween500000And2000000Member" xlink:to="label_MortgageLoansBetween500000And2000000Member_2" xlink:title="label: MortgageLoansBetween500000And2000000Member to label_MortgageLoansBetween500000And2000000Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansBetween500000And2000000Member_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansBetween500000And2000000Member" xml:lang="en-US" id="label_MortgageLoansBetween500000And2000000Member_3">Mortgage Loans between 500000 and 2000000 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansBetween500000And2000000Member" xlink:to="label_MortgageLoansBetween500000And2000000Member_3" xlink:title="label: MortgageLoansBetween500000And2000000Member to label_MortgageLoansBetween500000And2000000Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansBetween2001000And3000000Member" xlink:label="MortgageLoansBetween2001000And3000000Member" xlink:title="MortgageLoansBetween2001000And3000000Member" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansBetween2001000And3000000Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansBetween2001000And3000000Member" xml:lang="en-US" id="label_MortgageLoansBetween2001000And3000000Member">Real estate mortgage loans with an original loan amount between $2,001,000 and $3,000,000.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansBetween2001000And3000000Member" xlink:to="label_MortgageLoansBetween2001000And3000000Member" xlink:title="label: MortgageLoansBetween2001000And3000000Member to label_MortgageLoansBetween2001000And3000000Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansBetween2001000And3000000Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansBetween2001000And3000000Member" xml:lang="en-US" id="label_MortgageLoansBetween2001000And3000000Member_2">Original loan amounts between $2,001 - $3,000</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansBetween2001000And3000000Member" xlink:to="label_MortgageLoansBetween2001000And3000000Member_2" xlink:title="label: MortgageLoansBetween2001000And3000000Member to label_MortgageLoansBetween2001000And3000000Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansBetween2001000And3000000Member_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansBetween2001000And3000000Member" xml:lang="en-US" id="label_MortgageLoansBetween2001000And3000000Member_3">Mortgage Loans between 2001000 and 3000000 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansBetween2001000And3000000Member" xlink:to="label_MortgageLoansBetween2001000And3000000Member_3" xlink:title="label: MortgageLoansBetween2001000And3000000Member to label_MortgageLoansBetween2001000And3000000Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansBetween3001000And4000000Member" xlink:label="MortgageLoansBetween3001000And4000000Member" xlink:title="MortgageLoansBetween3001000And4000000Member" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansBetween3001000And4000000Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansBetween3001000And4000000Member" xml:lang="en-US" id="label_MortgageLoansBetween3001000And4000000Member">Real estate mortgage loans with an original loan amount between $3,001,000 and $4,000,000.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansBetween3001000And4000000Member" xlink:to="label_MortgageLoansBetween3001000And4000000Member" xlink:title="label: MortgageLoansBetween3001000And4000000Member to label_MortgageLoansBetween3001000And4000000Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansBetween3001000And4000000Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansBetween3001000And4000000Member" xml:lang="en-US" id="label_MortgageLoansBetween3001000And4000000Member_2">Original loan amounts between $3,001 - $4,000</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansBetween3001000And4000000Member" xlink:to="label_MortgageLoansBetween3001000And4000000Member_2" xlink:title="label: MortgageLoansBetween3001000And4000000Member to label_MortgageLoansBetween3001000And4000000Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansBetween3001000And4000000Member_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansBetween3001000And4000000Member" xml:lang="en-US" id="label_MortgageLoansBetween3001000And4000000Member_3">Mortgage Loans between 3001000 and 4000000 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansBetween3001000And4000000Member" xlink:to="label_MortgageLoansBetween3001000And4000000Member_3" xlink:title="label: MortgageLoansBetween3001000And4000000Member to label_MortgageLoansBetween3001000And4000000Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansBetween4001000And5000000Member" xlink:label="MortgageLoansBetween4001000And5000000Member" xlink:title="MortgageLoansBetween4001000And5000000Member" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansBetween4001000And5000000Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansBetween4001000And5000000Member" xml:lang="en-US" id="label_MortgageLoansBetween4001000And5000000Member">Real estate mortgage loans with an original loan amount between $4,001,000 and $5,000,000.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansBetween4001000And5000000Member" xlink:to="label_MortgageLoansBetween4001000And5000000Member" xlink:title="label: MortgageLoansBetween4001000And5000000Member to label_MortgageLoansBetween4001000And5000000Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansBetween4001000And5000000Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansBetween4001000And5000000Member" xml:lang="en-US" id="label_MortgageLoansBetween4001000And5000000Member_2">Original loan amounts between $4,001 - $5,000</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansBetween4001000And5000000Member" xlink:to="label_MortgageLoansBetween4001000And5000000Member_2" xlink:title="label: MortgageLoansBetween4001000And5000000Member to label_MortgageLoansBetween4001000And5000000Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansBetween4001000And5000000Member_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansBetween4001000And5000000Member" xml:lang="en-US" id="label_MortgageLoansBetween4001000And5000000Member_3">Mortgage Loans between 4001000 and 5000000 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansBetween4001000And5000000Member" xlink:to="label_MortgageLoansBetween4001000And5000000Member_3" xlink:title="label: MortgageLoansBetween4001000And5000000Member to label_MortgageLoansBetween4001000And5000000Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansBetween5001000And6000000Member" xlink:label="MortgageLoansBetween5001000And6000000Member" xlink:title="MortgageLoansBetween5001000And6000000Member" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansBetween5001000And6000000Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansBetween5001000And6000000Member" xml:lang="en-US" id="label_MortgageLoansBetween5001000And6000000Member">Real estate mortgage loans with an original loan amount between $5,001,000 and $6,000,000.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansBetween5001000And6000000Member" xlink:to="label_MortgageLoansBetween5001000And6000000Member" xlink:title="label: MortgageLoansBetween5001000And6000000Member to label_MortgageLoansBetween5001000And6000000Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansBetween5001000And6000000Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansBetween5001000And6000000Member" xml:lang="en-US" id="label_MortgageLoansBetween5001000And6000000Member_2">Original loan amounts between $5,001 - $6,000</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansBetween5001000And6000000Member" xlink:to="label_MortgageLoansBetween5001000And6000000Member_2" xlink:title="label: MortgageLoansBetween5001000And6000000Member to label_MortgageLoansBetween5001000And6000000Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansBetween5001000And6000000Member_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansBetween5001000And6000000Member" xml:lang="en-US" id="label_MortgageLoansBetween5001000And6000000Member_3">Mortgage Loans between 5001000 and 6000000 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansBetween5001000And6000000Member" xlink:to="label_MortgageLoansBetween5001000And6000000Member_3" xlink:title="label: MortgageLoansBetween5001000And6000000Member to label_MortgageLoansBetween5001000And6000000Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansBetween6001000And7000000Member" xlink:label="MortgageLoansBetween6001000And7000000Member" xlink:title="MortgageLoansBetween6001000And7000000Member" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansBetween6001000And7000000Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansBetween6001000And7000000Member" xml:lang="en-US" id="label_MortgageLoansBetween6001000And7000000Member">Real estate mortgage loans with an original loan amount between $6,001,000 and $7,000,000.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansBetween6001000And7000000Member" xlink:to="label_MortgageLoansBetween6001000And7000000Member" xlink:title="label: MortgageLoansBetween6001000And7000000Member to label_MortgageLoansBetween6001000And7000000Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansBetween6001000And7000000Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansBetween6001000And7000000Member" xml:lang="en-US" id="label_MortgageLoansBetween6001000And7000000Member_2">Original loan amounts between $6,001 - $7,000</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansBetween6001000And7000000Member" xlink:to="label_MortgageLoansBetween6001000And7000000Member_2" xlink:title="label: MortgageLoansBetween6001000And7000000Member to label_MortgageLoansBetween6001000And7000000Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansBetween6001000And7000000Member_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansBetween6001000And7000000Member" xml:lang="en-US" id="label_MortgageLoansBetween6001000And7000000Member_3">Mortgage Loans between 6001000 and 7000000 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansBetween6001000And7000000Member" xlink:to="label_MortgageLoansBetween6001000And7000000Member_3" xlink:title="label: MortgageLoansBetween6001000And7000000Member to label_MortgageLoansBetween6001000And7000000Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansBetween7001000And10000000Member" xlink:label="MortgageLoansBetween7001000And10000000Member" xlink:title="MortgageLoansBetween7001000And10000000Member" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansBetween7001000And10000000Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansBetween7001000And10000000Member" xml:lang="en-US" id="label_MortgageLoansBetween7001000And10000000Member">Real estate mortgage loans with an original loan amount between $7,001,000 and $10,000,000.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansBetween7001000And10000000Member" xlink:to="label_MortgageLoansBetween7001000And10000000Member" xlink:title="label: MortgageLoansBetween7001000And10000000Member to label_MortgageLoansBetween7001000And10000000Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansBetween7001000And10000000Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansBetween7001000And10000000Member" xml:lang="en-US" id="label_MortgageLoansBetween7001000And10000000Member_2">Original loan amounts between $7,001 - $10,000</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansBetween7001000And10000000Member" xlink:to="label_MortgageLoansBetween7001000And10000000Member_2" xlink:title="label: MortgageLoansBetween7001000And10000000Member to label_MortgageLoansBetween7001000And10000000Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansBetween7001000And10000000Member_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansBetween7001000And10000000Member" xml:lang="en-US" id="label_MortgageLoansBetween7001000And10000000Member_3">Mortgage Loans between 7001000 and 10000000 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansBetween7001000And10000000Member" xlink:to="label_MortgageLoansBetween7001000And10000000Member_3" xlink:title="label: MortgageLoansBetween7001000And10000000Member to label_MortgageLoansBetween7001000And10000000Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateLoanLossReserve" xlink:label="MortgageLoansOnRealEstateLoanLossReserve" xlink:title="MortgageLoansOnRealEstateLoanLossReserve" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateLoanLossReserve" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateLoanLossReserve" xml:lang="en-US" id="label_MortgageLoansOnRealEstateLoanLossReserve">Mortgage Loans on Real Estate, Loan Loss Reserve</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateLoanLossReserve" xlink:to="label_MortgageLoansOnRealEstateLoanLossReserve" xlink:title="label: MortgageLoansOnRealEstateLoanLossReserve to label_MortgageLoansOnRealEstateLoanLossReserve" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateLoanLossReserve_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateLoanLossReserve" xml:lang="en-US" id="label_MortgageLoansOnRealEstateLoanLossReserve_2">Loan Loss Reserve</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateLoanLossReserve" xlink:to="label_MortgageLoansOnRealEstateLoanLossReserve_2" xlink:title="label: MortgageLoansOnRealEstateLoanLossReserve to label_MortgageLoansOnRealEstateLoanLossReserve" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateLoanLossReserve_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateLoanLossReserve" xml:lang="en-US" id="label_MortgageLoansOnRealEstateLoanLossReserve_3">Represents the decrease in the loan loss reserve during the reporting period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateLoanLossReserve" xlink:to="label_MortgageLoansOnRealEstateLoanLossReserve_3" xlink:title="label: MortgageLoansOnRealEstateLoanLossReserve to label_MortgageLoansOnRealEstateLoanLossReserve" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Colton253CAMember" xlink:label="Colton253CAMember" xlink:title="Colton253CAMember" />
    <link:label xlink:type="resource" xlink:label="label_Colton253CAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Colton253CAMember" xml:lang="en-US" id="label_Colton253CAMember">Colton 253 CA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Colton253CAMember" xlink:to="label_Colton253CAMember" xlink:title="label: Colton253CAMember to label_Colton253CAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Colton253CAMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Colton253CAMember" xml:lang="en-US" id="label_Colton253CAMember_2">253 Colton, CA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Colton253CAMember" xlink:to="label_Colton253CAMember_2" xlink:title="label: Colton253CAMember to label_Colton253CAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Colton253CAMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Colton253CAMember" xml:lang="en-US" id="label_Colton253CAMember_3">Represents the information pertaining to 253 Colton, CA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Colton253CAMember" xlink:to="label_Colton253CAMember_3" xlink:title="label: Colton253CAMember to label_Colton253CAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Pasadena251TXMember" xlink:label="Pasadena251TXMember" xlink:title="Pasadena251TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Pasadena251TXMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Pasadena251TXMember" xml:lang="en-US" id="label_Pasadena251TXMember">Pasadena 251 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Pasadena251TXMember" xlink:to="label_Pasadena251TXMember" xlink:title="label: Pasadena251TXMember to label_Pasadena251TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Pasadena251TXMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Pasadena251TXMember" xml:lang="en-US" id="label_Pasadena251TXMember_2">251 Pasadena, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Pasadena251TXMember" xlink:to="label_Pasadena251TXMember_2" xlink:title="label: Pasadena251TXMember to label_Pasadena251TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Pasadena251TXMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Pasadena251TXMember" xml:lang="en-US" id="label_Pasadena251TXMember_3">Represents the information pertaining to 251 Pasadena, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Pasadena251TXMember" xlink:to="label_Pasadena251TXMember_3" xlink:title="label: Pasadena251TXMember to label_Pasadena251TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_PropertiesUnderDevelopmentMember" xlink:label="PropertiesUnderDevelopmentMember" xlink:title="PropertiesUnderDevelopmentMember" />
    <link:label xlink:type="resource" xlink:label="label_PropertiesUnderDevelopmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PropertiesUnderDevelopmentMember" xml:lang="en-US" id="label_PropertiesUnderDevelopmentMember">Properties under Development [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertiesUnderDevelopmentMember" xlink:to="label_PropertiesUnderDevelopmentMember" xlink:title="label: PropertiesUnderDevelopmentMember to label_PropertiesUnderDevelopmentMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PropertiesUnderDevelopmentMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PropertiesUnderDevelopmentMember" xml:lang="en-US" id="label_PropertiesUnderDevelopmentMember_2">Properties under development</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertiesUnderDevelopmentMember" xlink:to="label_PropertiesUnderDevelopmentMember_2" xlink:title="label: PropertiesUnderDevelopmentMember to label_PropertiesUnderDevelopmentMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PropertiesUnderDevelopmentMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PropertiesUnderDevelopmentMember" xml:lang="en-US" id="label_PropertiesUnderDevelopmentMember_3">Represents the information pertaining to properties under development.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertiesUnderDevelopmentMember" xlink:to="label_PropertiesUnderDevelopmentMember_3" xlink:title="label: PropertiesUnderDevelopmentMember to label_PropertiesUnderDevelopmentMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PropertiesUnderDevelopmentMember_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_PropertiesUnderDevelopmentMember" xml:lang="en-US" id="label_PropertiesUnderDevelopmentMember_4">Under development</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertiesUnderDevelopmentMember" xlink:to="label_PropertiesUnderDevelopmentMember_4" xlink:title="label: PropertiesUnderDevelopmentMember to label_PropertiesUnderDevelopmentMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Amarillo252TXMember" xlink:label="Amarillo252TXMember" xlink:title="Amarillo252TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Amarillo252TXMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Amarillo252TXMember" xml:lang="en-US" id="label_Amarillo252TXMember">Amarillo 252 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Amarillo252TXMember" xlink:to="label_Amarillo252TXMember" xlink:title="label: Amarillo252TXMember to label_Amarillo252TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Amarillo252TXMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Amarillo252TXMember" xml:lang="en-US" id="label_Amarillo252TXMember_2">252 Amarillo, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Amarillo252TXMember" xlink:to="label_Amarillo252TXMember_2" xlink:title="label: Amarillo252TXMember to label_Amarillo252TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Amarillo252TXMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Amarillo252TXMember" xml:lang="en-US" id="label_Amarillo252TXMember_3">Represents the information pertaining to 252 Amarillo, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Amarillo252TXMember" xlink:to="label_Amarillo252TXMember_3" xlink:title="label: Amarillo252TXMember to label_Amarillo252TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateMaturingBetween2012To2019Member" xlink:label="MortgageLoansOnRealEstateMaturingBetween2012To2019Member" xlink:title="MortgageLoansOnRealEstateMaturingBetween2012To2019Member" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingBetween2012To2019Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateMaturingBetween2012To2019Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingBetween2012To2019Member">Mortgage Loans on Real Estate Maturing between 2012 to 2019 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingBetween2012To2019Member" xlink:to="label_MortgageLoansOnRealEstateMaturingBetween2012To2019Member" xlink:title="label: MortgageLoansOnRealEstateMaturingBetween2012To2019Member to label_MortgageLoansOnRealEstateMaturingBetween2012To2019Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingBetween2012To2019Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateMaturingBetween2012To2019Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingBetween2012To2019Member_2">Final maturity dates between 2012-2019</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingBetween2012To2019Member" xlink:to="label_MortgageLoansOnRealEstateMaturingBetween2012To2019Member_2" xlink:title="label: MortgageLoansOnRealEstateMaturingBetween2012To2019Member to label_MortgageLoansOnRealEstateMaturingBetween2012To2019Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMaturingBetween2012To2019Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateMaturingBetween2012To2019Member" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMaturingBetween2012To2019Member_3">Represents the various first mortgage loans on real estate maturing between the years 2012 and 2019.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaturingBetween2012To2019Member" xlink:to="label_MortgageLoansOnRealEstateMaturingBetween2012To2019Member_3" xlink:title="label: MortgageLoansOnRealEstateMaturingBetween2012To2019Member to label_MortgageLoansOnRealEstateMaturingBetween2012To2019Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_AccruedExpensesAndOtherLiabilities" xlink:label="AccruedExpensesAndOtherLiabilities" xlink:title="AccruedExpensesAndOtherLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_AccruedExpensesAndOtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccruedExpensesAndOtherLiabilities" xml:lang="en-US" id="label_AccruedExpensesAndOtherLiabilities">Accrued Expenses and Other Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccruedExpensesAndOtherLiabilities" xlink:to="label_AccruedExpensesAndOtherLiabilities" xlink:title="label: AccruedExpensesAndOtherLiabilities to label_AccruedExpensesAndOtherLiabilities" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AccruedExpensesAndOtherLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AccruedExpensesAndOtherLiabilities" xml:lang="en-US" id="label_AccruedExpensesAndOtherLiabilities_2">This element represents sum of the carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Also includes money paid in advance to protect the provider of a product or service, such as a lessor, against damage or nonpayment by the buyer or tenant (lessee) during the term of the agreement. Such damages may include physical damage to the property, theft of property, and other contractual breaches.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccruedExpensesAndOtherLiabilities" xlink:to="label_AccruedExpensesAndOtherLiabilities_2" xlink:title="label: AccruedExpensesAndOtherLiabilities to label_AccruedExpensesAndOtherLiabilities" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AccruedExpensesAndOtherLiabilities_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AccruedExpensesAndOtherLiabilities" xml:lang="en-US" id="label_AccruedExpensesAndOtherLiabilities_3">Accrued expenses and other liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccruedExpensesAndOtherLiabilities" xlink:to="label_AccruedExpensesAndOtherLiabilities_3" xlink:title="label: AccruedExpensesAndOtherLiabilities to label_AccruedExpensesAndOtherLiabilities" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_AccumulatedDepreciationAndAmortizationPropertiesHeldForSale" xlink:label="AccumulatedDepreciationAndAmortizationPropertiesHeldForSale" xlink:title="AccumulatedDepreciationAndAmortizationPropertiesHeldForSale" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedDepreciationAndAmortizationPropertiesHeldForSale" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AccumulatedDepreciationAndAmortizationPropertiesHeldForSale" xml:lang="en-US" id="label_AccumulatedDepreciationAndAmortizationPropertiesHeldForSale">Properties held-for-sale, accumulated depreciation and amortization (in dollars)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedDepreciationAndAmortizationPropertiesHeldForSale" xlink:to="label_AccumulatedDepreciationAndAmortizationPropertiesHeldForSale" xlink:title="label: AccumulatedDepreciationAndAmortizationPropertiesHeldForSale to label_AccumulatedDepreciationAndAmortizationPropertiesHeldForSale" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedDepreciationAndAmortizationPropertiesHeldForSale_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccumulatedDepreciationAndAmortizationPropertiesHeldForSale" xml:lang="en-US" id="label_AccumulatedDepreciationAndAmortizationPropertiesHeldForSale_2">Accumulated Depreciation and Amortization, Properties Held For Sale</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedDepreciationAndAmortizationPropertiesHeldForSale" xlink:to="label_AccumulatedDepreciationAndAmortizationPropertiesHeldForSale_2" xlink:title="label: AccumulatedDepreciationAndAmortizationPropertiesHeldForSale to label_AccumulatedDepreciationAndAmortizationPropertiesHeldForSale" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedDepreciationAndAmortizationPropertiesHeldForSale_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AccumulatedDepreciationAndAmortizationPropertiesHeldForSale" xml:lang="en-US" id="label_AccumulatedDepreciationAndAmortizationPropertiesHeldForSale_3">The cumulative amount of depreciation and amortization for properties held for sale at the end of the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedDepreciationAndAmortizationPropertiesHeldForSale" xlink:to="label_AccumulatedDepreciationAndAmortizationPropertiesHeldForSale_3" xlink:title="label: AccumulatedDepreciationAndAmortizationPropertiesHeldForSale to label_AccumulatedDepreciationAndAmortizationPropertiesHeldForSale" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest" xlink:label="AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest" xlink:title="AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest">Represents the carrying amount of the partnership interest at cost that was reclassified to stockholders equity during the period upon the exercise of the limited partners' conversion rights.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest" xlink:to="label_AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest" xlink:title="label: AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest to label_AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest_2">Adjustment to Stockholders Equity, Conversion of Noncontrolling Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest" xlink:to="label_AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest_2" xlink:title="label: AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest to label_AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest_3">Carrying amount of the limited partner's interest in the partnership</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest" xlink:to="label_AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest_3" xlink:title="label: AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest to label_AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest_4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest_4">Transfers from the non-controlling interest: Decrease in paid-in capital for limited partners conversion</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest" xlink:to="label_AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest_4" xlink:title="label: AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest to label_AdjustmentToStockholdersEquityConversionOfNoncontrollingInterest" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_AllocationOfIncomeFromPreferredStockBuyBack" xlink:label="AllocationOfIncomeFromPreferredStockBuyBack" xlink:title="AllocationOfIncomeFromPreferredStockBuyBack" />
    <link:label xlink:type="resource" xlink:label="label_AllocationOfIncomeFromPreferredStockBuyBack" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AllocationOfIncomeFromPreferredStockBuyBack" xml:lang="en-US" id="label_AllocationOfIncomeFromPreferredStockBuyBack">Allocation of income from preferred stock buyback</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllocationOfIncomeFromPreferredStockBuyBack" xlink:to="label_AllocationOfIncomeFromPreferredStockBuyBack" xlink:title="label: AllocationOfIncomeFromPreferredStockBuyBack to label_AllocationOfIncomeFromPreferredStockBuyBack" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AllocationOfIncomeFromPreferredStockBuyBack_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AllocationOfIncomeFromPreferredStockBuyBack" xml:lang="en-US" id="label_AllocationOfIncomeFromPreferredStockBuyBack_2">Allocation of Income from Preferred Stock Buy Back</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllocationOfIncomeFromPreferredStockBuyBack" xlink:to="label_AllocationOfIncomeFromPreferredStockBuyBack_2" xlink:title="label: AllocationOfIncomeFromPreferredStockBuyBack to label_AllocationOfIncomeFromPreferredStockBuyBack" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AllocationOfIncomeFromPreferredStockBuyBack_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AllocationOfIncomeFromPreferredStockBuyBack" xml:lang="en-US" id="label_AllocationOfIncomeFromPreferredStockBuyBack_3">Net income portion allocable to preferred stockholders that was bought back by the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllocationOfIncomeFromPreferredStockBuyBack" xlink:to="label_AllocationOfIncomeFromPreferredStockBuyBack_3" xlink:title="label: AllocationOfIncomeFromPreferredStockBuyBack to label_AllocationOfIncomeFromPreferredStockBuyBack" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_AllowanceForDoubtfulAccountsAndOtherReceivablesMember" xlink:label="AllowanceForDoubtfulAccountsAndOtherReceivablesMember" xlink:title="AllowanceForDoubtfulAccountsAndOtherReceivablesMember" />
    <link:label xlink:type="resource" xlink:label="label_AllowanceForDoubtfulAccountsAndOtherReceivablesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AllowanceForDoubtfulAccountsAndOtherReceivablesMember" xml:lang="en-US" id="label_AllowanceForDoubtfulAccountsAndOtherReceivablesMember">Represents the allowance for doubtful accounts and other receivables.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllowanceForDoubtfulAccountsAndOtherReceivablesMember" xlink:to="label_AllowanceForDoubtfulAccountsAndOtherReceivablesMember" xlink:title="label: AllowanceForDoubtfulAccountsAndOtherReceivablesMember to label_AllowanceForDoubtfulAccountsAndOtherReceivablesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AllowanceForDoubtfulAccountsAndOtherReceivablesMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AllowanceForDoubtfulAccountsAndOtherReceivablesMember" xml:lang="en-US" id="label_AllowanceForDoubtfulAccountsAndOtherReceivablesMember_2">Allowance for doubtful accounts and other receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllowanceForDoubtfulAccountsAndOtherReceivablesMember" xlink:to="label_AllowanceForDoubtfulAccountsAndOtherReceivablesMember_2" xlink:title="label: AllowanceForDoubtfulAccountsAndOtherReceivablesMember to label_AllowanceForDoubtfulAccountsAndOtherReceivablesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AllowanceForDoubtfulAccountsAndOtherReceivablesMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AllowanceForDoubtfulAccountsAndOtherReceivablesMember" xml:lang="en-US" id="label_AllowanceForDoubtfulAccountsAndOtherReceivablesMember_3">Allowance for Doubtful Accounts and Other Receivables [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllowanceForDoubtfulAccountsAndOtherReceivablesMember" xlink:to="label_AllowanceForDoubtfulAccountsAndOtherReceivablesMember_3" xlink:title="label: AllowanceForDoubtfulAccountsAndOtherReceivablesMember to label_AllowanceForDoubtfulAccountsAndOtherReceivablesMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_AllowanceForDoubtfulAccountsRelatedToPropertiesHeldForSale" xlink:label="AllowanceForDoubtfulAccountsRelatedToPropertiesHeldForSale" xlink:title="AllowanceForDoubtfulAccountsRelatedToPropertiesHeldForSale" />
    <link:label xlink:type="resource" xlink:label="label_AllowanceForDoubtfulAccountsRelatedToPropertiesHeldForSale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AllowanceForDoubtfulAccountsRelatedToPropertiesHeldForSale" xml:lang="en-US" id="label_AllowanceForDoubtfulAccountsRelatedToPropertiesHeldForSale">Allowance for Doubtful Accounts Related to Properties Held for Sale</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllowanceForDoubtfulAccountsRelatedToPropertiesHeldForSale" xlink:to="label_AllowanceForDoubtfulAccountsRelatedToPropertiesHeldForSale" xlink:title="label: AllowanceForDoubtfulAccountsRelatedToPropertiesHeldForSale to label_AllowanceForDoubtfulAccountsRelatedToPropertiesHeldForSale" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AllowanceForDoubtfulAccountsRelatedToPropertiesHeldForSale_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AllowanceForDoubtfulAccountsRelatedToPropertiesHeldForSale" xml:lang="en-US" id="label_AllowanceForDoubtfulAccountsRelatedToPropertiesHeldForSale_2">Other assets related to properties held-for-sale, allowance for doubtful accounts (in dollars)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllowanceForDoubtfulAccountsRelatedToPropertiesHeldForSale" xlink:to="label_AllowanceForDoubtfulAccountsRelatedToPropertiesHeldForSale_2" xlink:title="label: AllowanceForDoubtfulAccountsRelatedToPropertiesHeldForSale to label_AllowanceForDoubtfulAccountsRelatedToPropertiesHeldForSale" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AllowanceForDoubtfulAccountsRelatedToPropertiesHeldForSale_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AllowanceForDoubtfulAccountsRelatedToPropertiesHeldForSale" xml:lang="en-US" id="label_AllowanceForDoubtfulAccountsRelatedToPropertiesHeldForSale_3">A valuation allowance for other assets related to properties held for sale due to an Entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllowanceForDoubtfulAccountsRelatedToPropertiesHeldForSale" xlink:to="label_AllowanceForDoubtfulAccountsRelatedToPropertiesHeldForSale_3" xlink:title="label: AllowanceForDoubtfulAccountsRelatedToPropertiesHeldForSale to label_AllowanceForDoubtfulAccountsRelatedToPropertiesHeldForSale" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_AllowanceForStraightLineRentReceivableMember" xlink:label="AllowanceForStraightLineRentReceivableMember" xlink:title="AllowanceForStraightLineRentReceivableMember" />
    <link:label xlink:type="resource" xlink:label="label_AllowanceForStraightLineRentReceivableMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AllowanceForStraightLineRentReceivableMember" xml:lang="en-US" id="label_AllowanceForStraightLineRentReceivableMember">Represents the allowance for straight line rent receivable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllowanceForStraightLineRentReceivableMember" xlink:to="label_AllowanceForStraightLineRentReceivableMember" xlink:title="label: AllowanceForStraightLineRentReceivableMember to label_AllowanceForStraightLineRentReceivableMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AllowanceForStraightLineRentReceivableMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AllowanceForStraightLineRentReceivableMember" xml:lang="en-US" id="label_AllowanceForStraightLineRentReceivableMember_2">Straight-line rent receivable allowance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllowanceForStraightLineRentReceivableMember" xlink:to="label_AllowanceForStraightLineRentReceivableMember_2" xlink:title="label: AllowanceForStraightLineRentReceivableMember to label_AllowanceForStraightLineRentReceivableMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AllowanceForStraightLineRentReceivableMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AllowanceForStraightLineRentReceivableMember" xml:lang="en-US" id="label_AllowanceForStraightLineRentReceivableMember_3">Allowance for Straight Line Rent Receivable [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllowanceForStraightLineRentReceivableMember" xlink:to="label_AllowanceForStraightLineRentReceivableMember_3" xlink:title="label: AllowanceForStraightLineRentReceivableMember to label_AllowanceForStraightLineRentReceivableMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_AmountInvestedForCapitalImprovementsToExistingProperties" xlink:label="AmountInvestedForCapitalImprovementsToExistingProperties" xlink:title="AmountInvestedForCapitalImprovementsToExistingProperties" />
    <link:label xlink:type="resource" xlink:label="label_AmountInvestedForCapitalImprovementsToExistingProperties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AmountInvestedForCapitalImprovementsToExistingProperties" xml:lang="en-US" id="label_AmountInvestedForCapitalImprovementsToExistingProperties">Amount Invested for Capital Improvements to Existing Properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountInvestedForCapitalImprovementsToExistingProperties" xlink:to="label_AmountInvestedForCapitalImprovementsToExistingProperties" xlink:title="label: AmountInvestedForCapitalImprovementsToExistingProperties to label_AmountInvestedForCapitalImprovementsToExistingProperties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AmountInvestedForCapitalImprovementsToExistingProperties_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AmountInvestedForCapitalImprovementsToExistingProperties" xml:lang="en-US" id="label_AmountInvestedForCapitalImprovementsToExistingProperties_2">Amount invested in properties with yield already included in rental rates</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountInvestedForCapitalImprovementsToExistingProperties" xlink:to="label_AmountInvestedForCapitalImprovementsToExistingProperties_2" xlink:title="label: AmountInvestedForCapitalImprovementsToExistingProperties to label_AmountInvestedForCapitalImprovementsToExistingProperties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AmountInvestedForCapitalImprovementsToExistingProperties_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AmountInvestedForCapitalImprovementsToExistingProperties" xml:lang="en-US" id="label_AmountInvestedForCapitalImprovementsToExistingProperties_3">Represents the amount invested in capital improvements to existing properties under various lease agreements whose rental rates already reflected the investment.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountInvestedForCapitalImprovementsToExistingProperties" xlink:to="label_AmountInvestedForCapitalImprovementsToExistingProperties_3" xlink:title="label: AmountInvestedForCapitalImprovementsToExistingProperties to label_AmountInvestedForCapitalImprovementsToExistingProperties" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_AnnualIncreaseInRent" xlink:label="AnnualIncreaseInRent" xlink:title="AnnualIncreaseInRent" />
    <link:label xlink:type="resource" xlink:label="label_AnnualIncreaseInRent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AnnualIncreaseInRent" xml:lang="en-US" id="label_AnnualIncreaseInRent">Annual Increase in Rent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualIncreaseInRent" xlink:to="label_AnnualIncreaseInRent" xlink:title="label: AnnualIncreaseInRent to label_AnnualIncreaseInRent" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AnnualIncreaseInRent_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AnnualIncreaseInRent" xml:lang="en-US" id="label_AnnualIncreaseInRent_2">Specified annual increase over the prior year's rent (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualIncreaseInRent" xlink:to="label_AnnualIncreaseInRent_2" xlink:title="label: AnnualIncreaseInRent to label_AnnualIncreaseInRent" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AnnualIncreaseInRent_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AnnualIncreaseInRent" xml:lang="en-US" id="label_AnnualIncreaseInRent_3">Represents the increase in rent expressed as percentage, over the prior year's rent.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualIncreaseInRent" xlink:to="label_AnnualIncreaseInRent_3" xlink:title="label: AnnualIncreaseInRent to label_AnnualIncreaseInRent" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_AssetsDifferencesBetweenBookAndTaxBasis" xlink:label="AssetsDifferencesBetweenBookAndTaxBasis" xlink:title="AssetsDifferencesBetweenBookAndTaxBasis" />
    <link:label xlink:type="resource" xlink:label="label_AssetsDifferencesBetweenBookAndTaxBasis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssetsDifferencesBetweenBookAndTaxBasis" xml:lang="en-US" id="label_AssetsDifferencesBetweenBookAndTaxBasis">Assets, Differences Between Book and Tax Basis</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsDifferencesBetweenBookAndTaxBasis" xlink:to="label_AssetsDifferencesBetweenBookAndTaxBasis" xlink:title="label: AssetsDifferencesBetweenBookAndTaxBasis to label_AssetsDifferencesBetweenBookAndTaxBasis" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssetsDifferencesBetweenBookAndTaxBasis_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssetsDifferencesBetweenBookAndTaxBasis" xml:lang="en-US" id="label_AssetsDifferencesBetweenBookAndTaxBasis_2">Excess of book basis of net depreciable assets over tax basis</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsDifferencesBetweenBookAndTaxBasis" xlink:to="label_AssetsDifferencesBetweenBookAndTaxBasis_2" xlink:title="label: AssetsDifferencesBetweenBookAndTaxBasis to label_AssetsDifferencesBetweenBookAndTaxBasis" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssetsDifferencesBetweenBookAndTaxBasis_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AssetsDifferencesBetweenBookAndTaxBasis" xml:lang="en-US" id="label_AssetsDifferencesBetweenBookAndTaxBasis_3">Represents the excess of book basis over tax basis of depreciable assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsDifferencesBetweenBookAndTaxBasis" xlink:to="label_AssetsDifferencesBetweenBookAndTaxBasis_3" xlink:title="label: AssetsDifferencesBetweenBookAndTaxBasis to label_AssetsDifferencesBetweenBookAndTaxBasis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_AssistedLivingConceptsIncMember" xlink:label="AssistedLivingConceptsIncMember" xlink:title="AssistedLivingConceptsIncMember" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingConceptsIncMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssistedLivingConceptsIncMember" xml:lang="en-US" id="label_AssistedLivingConceptsIncMember">ALC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingConceptsIncMember" xlink:to="label_AssistedLivingConceptsIncMember" xlink:title="label: AssistedLivingConceptsIncMember to label_AssistedLivingConceptsIncMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingConceptsIncMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AssistedLivingConceptsIncMember" xml:lang="en-US" id="label_AssistedLivingConceptsIncMember_2">Represents the information pertaining to Assisted Living Concepts, Inc.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingConceptsIncMember" xlink:to="label_AssistedLivingConceptsIncMember_2" xlink:title="label: AssistedLivingConceptsIncMember to label_AssistedLivingConceptsIncMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingConceptsIncMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssistedLivingConceptsIncMember" xml:lang="en-US" id="label_AssistedLivingConceptsIncMember_3">Assisted Living Concepts Inc [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingConceptsIncMember" xlink:to="label_AssistedLivingConceptsIncMember_3" xlink:title="label: AssistedLivingConceptsIncMember to label_AssistedLivingConceptsIncMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_AssistedLivingFacilityUnitsMember" xlink:label="AssistedLivingFacilityUnitsMember" xlink:title="AssistedLivingFacilityUnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingFacilityUnitsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AssistedLivingFacilityUnitsMember" xml:lang="en-US" id="label_AssistedLivingFacilityUnitsMember">Represents information pertaining to assisted living facility units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingFacilityUnitsMember" xlink:to="label_AssistedLivingFacilityUnitsMember" xlink:title="label: AssistedLivingFacilityUnitsMember to label_AssistedLivingFacilityUnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingFacilityUnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssistedLivingFacilityUnitsMember" xml:lang="en-US" id="label_AssistedLivingFacilityUnitsMember_2">Assisted Living Facility Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingFacilityUnitsMember" xlink:to="label_AssistedLivingFacilityUnitsMember_2" xlink:title="label: AssistedLivingFacilityUnitsMember to label_AssistedLivingFacilityUnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingFacilityUnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssistedLivingFacilityUnitsMember" xml:lang="en-US" id="label_AssistedLivingFacilityUnitsMember_3">ALF Units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingFacilityUnitsMember" xlink:to="label_AssistedLivingFacilityUnitsMember_3" xlink:title="label: AssistedLivingFacilityUnitsMember to label_AssistedLivingFacilityUnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_BakersfieldMember" xlink:label="BakersfieldMember" xlink:title="BakersfieldMember" />
    <link:label xlink:type="resource" xlink:label="label_BakersfieldMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BakersfieldMember" xml:lang="en-US" id="label_BakersfieldMember">Bakersfield</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BakersfieldMember" xlink:to="label_BakersfieldMember" xlink:title="label: BakersfieldMember to label_BakersfieldMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BakersfieldMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BakersfieldMember" xml:lang="en-US" id="label_BakersfieldMember_2">Bakersfield [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BakersfieldMember" xlink:to="label_BakersfieldMember_2" xlink:title="label: BakersfieldMember to label_BakersfieldMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BakersfieldMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BakersfieldMember" xml:lang="en-US" id="label_BakersfieldMember_3">Represents the information pertaining to Bakersfield.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BakersfieldMember" xlink:to="label_BakersfieldMember_3" xlink:title="label: BakersfieldMember to label_BakersfieldMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_BankruptcySettlementDistributionAmountReceived" xlink:label="BankruptcySettlementDistributionAmountReceived" xlink:title="BankruptcySettlementDistributionAmountReceived" />
    <link:label xlink:type="resource" xlink:label="label_BankruptcySettlementDistributionAmountReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BankruptcySettlementDistributionAmountReceived" xml:lang="en-US" id="label_BankruptcySettlementDistributionAmountReceived">Bankruptcy Settlement Distribution Amount Received</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankruptcySettlementDistributionAmountReceived" xlink:to="label_BankruptcySettlementDistributionAmountReceived" xlink:title="label: BankruptcySettlementDistributionAmountReceived to label_BankruptcySettlementDistributionAmountReceived" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BankruptcySettlementDistributionAmountReceived_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BankruptcySettlementDistributionAmountReceived" xml:lang="en-US" id="label_BankruptcySettlementDistributionAmountReceived_2">Bankruptcy settlement distribution received</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankruptcySettlementDistributionAmountReceived" xlink:to="label_BankruptcySettlementDistributionAmountReceived_2" xlink:title="label: BankruptcySettlementDistributionAmountReceived to label_BankruptcySettlementDistributionAmountReceived" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BankruptcySettlementDistributionAmountReceived_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BankruptcySettlementDistributionAmountReceived" xml:lang="en-US" id="label_BankruptcySettlementDistributionAmountReceived_3">Represents the amount of bankruptcy settlement received by the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankruptcySettlementDistributionAmountReceived" xlink:to="label_BankruptcySettlementDistributionAmountReceived_3" xlink:title="label: BankruptcySettlementDistributionAmountReceived to label_BankruptcySettlementDistributionAmountReceived" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_BondsPayableMember" xlink:label="BondsPayableMember" xlink:title="BondsPayableMember" />
    <link:label xlink:type="resource" xlink:label="label_BondsPayableMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BondsPayableMember" xml:lang="en-US" id="label_BondsPayableMember">Represents bonds payable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BondsPayableMember" xlink:to="label_BondsPayableMember" xlink:title="label: BondsPayableMember to label_BondsPayableMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BondsPayableMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BondsPayableMember" xml:lang="en-US" id="label_BondsPayableMember_2">Bonds payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BondsPayableMember" xlink:to="label_BondsPayableMember_2" xlink:title="label: BondsPayableMember to label_BondsPayableMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BondsPayableMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BondsPayableMember" xml:lang="en-US" id="label_BondsPayableMember_3">Bonds Payable [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BondsPayableMember" xlink:to="label_BondsPayableMember_3" xlink:title="label: BondsPayableMember to label_BondsPayableMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_BrookdaleMember" xlink:label="BrookdaleMember" xlink:title="BrookdaleMember" />
    <link:label xlink:type="resource" xlink:label="label_BrookdaleMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BrookdaleMember" xml:lang="en-US" id="label_BrookdaleMember">Brookdale</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BrookdaleMember" xlink:to="label_BrookdaleMember" xlink:title="label: BrookdaleMember to label_BrookdaleMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BrookdaleMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BrookdaleMember" xml:lang="en-US" id="label_BrookdaleMember_2">Represents the information pertaining to Brookdale.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BrookdaleMember" xlink:to="label_BrookdaleMember_2" xlink:title="label: BrookdaleMember to label_BrookdaleMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BrookdaleMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BrookdaleMember" xml:lang="en-US" id="label_BrookdaleMember_3">Brookdale [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BrookdaleMember" xlink:to="label_BrookdaleMember_3" xlink:title="label: BrookdaleMember to label_BrookdaleMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties" xlink:label="BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties" xlink:title="BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties" xml:lang="en-US" id="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties">Business Acquisition, Amount Invested for Expansion and Renovation of Properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties" xlink:to="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties" xlink:title="label: BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties to label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties" xml:lang="en-US" id="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties_2">Amount invested for expansion and renovation of properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties" xlink:to="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties_2" xlink:title="label: BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties to label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties" xml:lang="en-US" id="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties_3">Represents the amount invested for expansion and renovation of properties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties" xlink:to="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties_3" xlink:title="label: BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties to label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesAverageYield" xlink:label="BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesAverageYield" xlink:title="BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesAverageYield" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesAverageYield" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesAverageYield" xml:lang="en-US" id="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesAverageYield">Business Acquisition, Amount Invested for Expansion and Renovation of Properties Average Yield</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesAverageYield" xlink:to="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesAverageYield" xlink:title="label: BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesAverageYield to label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesAverageYield" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesAverageYield_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesAverageYield" xml:lang="en-US" id="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesAverageYield_2">Average yield on amount invested for expansion and renovation of properties (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesAverageYield" xlink:to="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesAverageYield_2" xlink:title="label: BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesAverageYield to label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesAverageYield" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesAverageYield_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesAverageYield" xml:lang="en-US" id="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesAverageYield_3">Represents the average yield on amount invested for expansion and renovation of properties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesAverageYield" xlink:to="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesAverageYield_3" xlink:title="label: BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesAverageYield to label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesAverageYield" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LeaseAgreementGAAPYieldPercentage" xlink:label="LeaseAgreementGAAPYieldPercentage" xlink:title="LeaseAgreementGAAPYieldPercentage" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementGAAPYieldPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeaseAgreementGAAPYieldPercentage" xml:lang="en-US" id="label_LeaseAgreementGAAPYieldPercentage">Lease Agreement GAAP Yield Percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementGAAPYieldPercentage" xlink:to="label_LeaseAgreementGAAPYieldPercentage" xlink:title="label: LeaseAgreementGAAPYieldPercentage to label_LeaseAgreementGAAPYieldPercentage" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementGAAPYieldPercentage_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeaseAgreementGAAPYieldPercentage" xml:lang="en-US" id="label_LeaseAgreementGAAPYieldPercentage_2">GAAP yield (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementGAAPYieldPercentage" xlink:to="label_LeaseAgreementGAAPYieldPercentage_2" xlink:title="label: LeaseAgreementGAAPYieldPercentage to label_LeaseAgreementGAAPYieldPercentage" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementGAAPYieldPercentage_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LeaseAgreementGAAPYieldPercentage" xml:lang="en-US" id="label_LeaseAgreementGAAPYieldPercentage_3">Represents the percentage of GAAP yield as per lease agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementGAAPYieldPercentage" xlink:to="label_LeaseAgreementGAAPYieldPercentage_3" xlink:title="label: LeaseAgreementGAAPYieldPercentage to label_LeaseAgreementGAAPYieldPercentage" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumber" xlink:label="BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumber" xlink:title="BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumber" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumber" xml:lang="en-US" id="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumber">Business Acquisition, Amount Invested for Expansion and Renovation of Properties Number</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumber" xlink:to="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumber" xlink:title="label: BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumber to label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumber" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumber_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumber" xml:lang="en-US" id="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumber_2">Number of properties in which investments to expand and renovate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumber" xlink:to="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumber_2" xlink:title="label: BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumber to label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumber" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumber_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumber" xml:lang="en-US" id="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumber_3">Represents the number of properties in which amount invested for expansion and renovation.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumber" xlink:to="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumber_3" xlink:title="label: BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumber to label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumber" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumberOfOperators" xlink:label="BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumberOfOperators" xlink:title="BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumberOfOperators" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumberOfOperators" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumberOfOperators" xml:lang="en-US" id="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumberOfOperators">Business Acquisition, Amount Invested for Expansion and Renovation of Properties Number of Operators</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumberOfOperators" xlink:to="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumberOfOperators" xlink:title="label: BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumberOfOperators to label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumberOfOperators" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumberOfOperators_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumberOfOperators" xml:lang="en-US" id="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumberOfOperators_2">Number of operators of properties in which investments to expand and renovate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumberOfOperators" xlink:to="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumberOfOperators_2" xlink:title="label: BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumberOfOperators to label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumberOfOperators" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumberOfOperators_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumberOfOperators" xml:lang="en-US" id="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumberOfOperators_3">Represents the number of operators operating properties under agreement to expand and renovate.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumberOfOperators" xlink:to="label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumberOfOperators_3" xlink:title="label: BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumberOfOperators to label_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfPropertiesNumberOfOperators" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_BusinessAcquisitionAnnualizedRentalIncome" xlink:label="BusinessAcquisitionAnnualizedRentalIncome" xlink:title="BusinessAcquisitionAnnualizedRentalIncome" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionAnnualizedRentalIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BusinessAcquisitionAnnualizedRentalIncome" xml:lang="en-US" id="label_BusinessAcquisitionAnnualizedRentalIncome">Business Acquisition, Annualized Rental Income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionAnnualizedRentalIncome" xlink:to="label_BusinessAcquisitionAnnualizedRentalIncome" xlink:title="label: BusinessAcquisitionAnnualizedRentalIncome to label_BusinessAcquisitionAnnualizedRentalIncome" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionAnnualizedRentalIncome_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BusinessAcquisitionAnnualizedRentalIncome" xml:lang="en-US" id="label_BusinessAcquisitionAnnualizedRentalIncome_2">Represents the annualized rental income derived from properties acquired.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionAnnualizedRentalIncome" xlink:to="label_BusinessAcquisitionAnnualizedRentalIncome_2" xlink:title="label: BusinessAcquisitionAnnualizedRentalIncome to label_BusinessAcquisitionAnnualizedRentalIncome" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionAnnualizedRentalIncome_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BusinessAcquisitionAnnualizedRentalIncome" xml:lang="en-US" id="label_BusinessAcquisitionAnnualizedRentalIncome_3">Annualized Rental Income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionAnnualizedRentalIncome" xlink:to="label_BusinessAcquisitionAnnualizedRentalIncome_3" xlink:title="label: BusinessAcquisitionAnnualizedRentalIncome to label_BusinessAcquisitionAnnualizedRentalIncome" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_BusinessAcquisitionAnnualizedRentalIncomeCashAndStraightLineRentalIncome" xlink:label="BusinessAcquisitionAnnualizedRentalIncomeCashAndStraightLineRentalIncome" xlink:title="BusinessAcquisitionAnnualizedRentalIncomeCashAndStraightLineRentalIncome" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionAnnualizedRentalIncomeCashAndStraightLineRentalIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BusinessAcquisitionAnnualizedRentalIncomeCashAndStraightLineRentalIncome" xml:lang="en-US" id="label_BusinessAcquisitionAnnualizedRentalIncomeCashAndStraightLineRentalIncome">Business Acquisition, Annualized Rental Income Cash and Straight Line Rental Income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionAnnualizedRentalIncomeCashAndStraightLineRentalIncome" xlink:to="label_BusinessAcquisitionAnnualizedRentalIncomeCashAndStraightLineRentalIncome" xlink:title="label: BusinessAcquisitionAnnualizedRentalIncomeCashAndStraightLineRentalIncome to label_BusinessAcquisitionAnnualizedRentalIncomeCashAndStraightLineRentalIncome" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionAnnualizedRentalIncomeCashAndStraightLineRentalIncome_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BusinessAcquisitionAnnualizedRentalIncomeCashAndStraightLineRentalIncome" xml:lang="en-US" id="label_BusinessAcquisitionAnnualizedRentalIncomeCashAndStraightLineRentalIncome_2">Cash and straight-line rental income from properties acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionAnnualizedRentalIncomeCashAndStraightLineRentalIncome" xlink:to="label_BusinessAcquisitionAnnualizedRentalIncomeCashAndStraightLineRentalIncome_2" xlink:title="label: BusinessAcquisitionAnnualizedRentalIncomeCashAndStraightLineRentalIncome to label_BusinessAcquisitionAnnualizedRentalIncomeCashAndStraightLineRentalIncome" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionAnnualizedRentalIncomeCashAndStraightLineRentalIncome_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BusinessAcquisitionAnnualizedRentalIncomeCashAndStraightLineRentalIncome" xml:lang="en-US" id="label_BusinessAcquisitionAnnualizedRentalIncomeCashAndStraightLineRentalIncome_3">Represents the cash and straight-line rental income from properties acquired.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionAnnualizedRentalIncomeCashAndStraightLineRentalIncome" xlink:to="label_BusinessAcquisitionAnnualizedRentalIncomeCashAndStraightLineRentalIncome_3" xlink:title="label: BusinessAcquisitionAnnualizedRentalIncomeCashAndStraightLineRentalIncome to label_BusinessAcquisitionAnnualizedRentalIncomeCashAndStraightLineRentalIncome" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_BusinessAcquisitionCostOfAcquiredEntityTransactionCostsPrepaymentPenalty" xlink:label="BusinessAcquisitionCostOfAcquiredEntityTransactionCostsPrepaymentPenalty" xlink:title="BusinessAcquisitionCostOfAcquiredEntityTransactionCostsPrepaymentPenalty" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionCostOfAcquiredEntityTransactionCostsPrepaymentPenalty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BusinessAcquisitionCostOfAcquiredEntityTransactionCostsPrepaymentPenalty" xml:lang="en-US" id="label_BusinessAcquisitionCostOfAcquiredEntityTransactionCostsPrepaymentPenalty">Business Acquisition, Cost of Acquired Entity Transaction Costs Prepayment Penalty</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionCostOfAcquiredEntityTransactionCostsPrepaymentPenalty" xlink:to="label_BusinessAcquisitionCostOfAcquiredEntityTransactionCostsPrepaymentPenalty" xlink:title="label: BusinessAcquisitionCostOfAcquiredEntityTransactionCostsPrepaymentPenalty to label_BusinessAcquisitionCostOfAcquiredEntityTransactionCostsPrepaymentPenalty" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionCostOfAcquiredEntityTransactionCostsPrepaymentPenalty_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BusinessAcquisitionCostOfAcquiredEntityTransactionCostsPrepaymentPenalty" xml:lang="en-US" id="label_BusinessAcquisitionCostOfAcquiredEntityTransactionCostsPrepaymentPenalty_2">Half of prepayment penalty included in transaction costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionCostOfAcquiredEntityTransactionCostsPrepaymentPenalty" xlink:to="label_BusinessAcquisitionCostOfAcquiredEntityTransactionCostsPrepaymentPenalty_2" xlink:title="label: BusinessAcquisitionCostOfAcquiredEntityTransactionCostsPrepaymentPenalty to label_BusinessAcquisitionCostOfAcquiredEntityTransactionCostsPrepaymentPenalty" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionCostOfAcquiredEntityTransactionCostsPrepaymentPenalty_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BusinessAcquisitionCostOfAcquiredEntityTransactionCostsPrepaymentPenalty" xml:lang="en-US" id="label_BusinessAcquisitionCostOfAcquiredEntityTransactionCostsPrepaymentPenalty_3">Represents the half of the portion of prepayment penalty on loans, included in transaction costs.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionCostOfAcquiredEntityTransactionCostsPrepaymentPenalty" xlink:to="label_BusinessAcquisitionCostOfAcquiredEntityTransactionCostsPrepaymentPenalty_3" xlink:title="label: BusinessAcquisitionCostOfAcquiredEntityTransactionCostsPrepaymentPenalty to label_BusinessAcquisitionCostOfAcquiredEntityTransactionCostsPrepaymentPenalty" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_BusinessAcquisitionDeterminationOfValueOfIdentifiableAssetsMaximumPeriod" xlink:label="BusinessAcquisitionDeterminationOfValueOfIdentifiableAssetsMaximumPeriod" xlink:title="BusinessAcquisitionDeterminationOfValueOfIdentifiableAssetsMaximumPeriod" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionDeterminationOfValueOfIdentifiableAssetsMaximumPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BusinessAcquisitionDeterminationOfValueOfIdentifiableAssetsMaximumPeriod" xml:lang="en-US" id="label_BusinessAcquisitionDeterminationOfValueOfIdentifiableAssetsMaximumPeriod">Business Acquisition, Determination of Value of Identifiable Assets Maximum Period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionDeterminationOfValueOfIdentifiableAssetsMaximumPeriod" xlink:to="label_BusinessAcquisitionDeterminationOfValueOfIdentifiableAssetsMaximumPeriod" xlink:title="label: BusinessAcquisitionDeterminationOfValueOfIdentifiableAssetsMaximumPeriod to label_BusinessAcquisitionDeterminationOfValueOfIdentifiableAssetsMaximumPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionDeterminationOfValueOfIdentifiableAssetsMaximumPeriod_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BusinessAcquisitionDeterminationOfValueOfIdentifiableAssetsMaximumPeriod" xml:lang="en-US" id="label_BusinessAcquisitionDeterminationOfValueOfIdentifiableAssetsMaximumPeriod_2">Maximum period taken for determination of value of identifiable assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionDeterminationOfValueOfIdentifiableAssetsMaximumPeriod" xlink:to="label_BusinessAcquisitionDeterminationOfValueOfIdentifiableAssetsMaximumPeriod_2" xlink:title="label: BusinessAcquisitionDeterminationOfValueOfIdentifiableAssetsMaximumPeriod to label_BusinessAcquisitionDeterminationOfValueOfIdentifiableAssetsMaximumPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionDeterminationOfValueOfIdentifiableAssetsMaximumPeriod_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BusinessAcquisitionDeterminationOfValueOfIdentifiableAssetsMaximumPeriod" xml:lang="en-US" id="label_BusinessAcquisitionDeterminationOfValueOfIdentifiableAssetsMaximumPeriod_3">Represents the maximum period to be taken for determination of the value of identifiable assets acquired by the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionDeterminationOfValueOfIdentifiableAssetsMaximumPeriod" xlink:to="label_BusinessAcquisitionDeterminationOfValueOfIdentifiableAssetsMaximumPeriod_3" xlink:title="label: BusinessAcquisitionDeterminationOfValueOfIdentifiableAssetsMaximumPeriod to label_BusinessAcquisitionDeterminationOfValueOfIdentifiableAssetsMaximumPeriod" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_BusinessAcquisitionLeaseInducementChargesPaid" xlink:label="BusinessAcquisitionLeaseInducementChargesPaid" xlink:title="BusinessAcquisitionLeaseInducementChargesPaid" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionLeaseInducementChargesPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BusinessAcquisitionLeaseInducementChargesPaid" xml:lang="en-US" id="label_BusinessAcquisitionLeaseInducementChargesPaid">Business Acquisition Lease Inducement Charges Paid</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionLeaseInducementChargesPaid" xlink:to="label_BusinessAcquisitionLeaseInducementChargesPaid" xlink:title="label: BusinessAcquisitionLeaseInducementChargesPaid to label_BusinessAcquisitionLeaseInducementChargesPaid" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionLeaseInducementChargesPaid_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BusinessAcquisitionLeaseInducementChargesPaid" xml:lang="en-US" id="label_BusinessAcquisitionLeaseInducementChargesPaid_2">Lease inducement paid</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionLeaseInducementChargesPaid" xlink:to="label_BusinessAcquisitionLeaseInducementChargesPaid_2" xlink:title="label: BusinessAcquisitionLeaseInducementChargesPaid to label_BusinessAcquisitionLeaseInducementChargesPaid" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionLeaseInducementChargesPaid_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BusinessAcquisitionLeaseInducementChargesPaid" xml:lang="en-US" id="label_BusinessAcquisitionLeaseInducementChargesPaid_3">Represents the lease inducement charges paid by the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionLeaseInducementChargesPaid" xlink:to="label_BusinessAcquisitionLeaseInducementChargesPaid_3" xlink:title="label: BusinessAcquisitionLeaseInducementChargesPaid to label_BusinessAcquisitionLeaseInducementChargesPaid" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_BusinessAcquisitionNumberOfUnitsInBusinessAcquired" xlink:label="BusinessAcquisitionNumberOfUnitsInBusinessAcquired" xlink:title="BusinessAcquisitionNumberOfUnitsInBusinessAcquired" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionNumberOfUnitsInBusinessAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BusinessAcquisitionNumberOfUnitsInBusinessAcquired" xml:lang="en-US" id="label_BusinessAcquisitionNumberOfUnitsInBusinessAcquired">Business Acquisition, Number of Units in Business Acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionNumberOfUnitsInBusinessAcquired" xlink:to="label_BusinessAcquisitionNumberOfUnitsInBusinessAcquired" xlink:title="label: BusinessAcquisitionNumberOfUnitsInBusinessAcquired to label_BusinessAcquisitionNumberOfUnitsInBusinessAcquired" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionNumberOfUnitsInBusinessAcquired_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BusinessAcquisitionNumberOfUnitsInBusinessAcquired" xml:lang="en-US" id="label_BusinessAcquisitionNumberOfUnitsInBusinessAcquired_2">Number of beds/units acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionNumberOfUnitsInBusinessAcquired" xlink:to="label_BusinessAcquisitionNumberOfUnitsInBusinessAcquired_2" xlink:title="label: BusinessAcquisitionNumberOfUnitsInBusinessAcquired to label_BusinessAcquisitionNumberOfUnitsInBusinessAcquired" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionNumberOfUnitsInBusinessAcquired_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BusinessAcquisitionNumberOfUnitsInBusinessAcquired" xml:lang="en-US" id="label_BusinessAcquisitionNumberOfUnitsInBusinessAcquired_3">Represents the number of beds/units in the acquired business.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionNumberOfUnitsInBusinessAcquired" xlink:to="label_BusinessAcquisitionNumberOfUnitsInBusinessAcquired_3" xlink:title="label: BusinessAcquisitionNumberOfUnitsInBusinessAcquired to label_BusinessAcquisitionNumberOfUnitsInBusinessAcquired" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionNumberOfUnitsInBusinessAcquired_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_BusinessAcquisitionNumberOfUnitsInBusinessAcquired" xml:lang="en-US" id="label_BusinessAcquisitionNumberOfUnitsInBusinessAcquired_4">Number of beds/units acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionNumberOfUnitsInBusinessAcquired" xlink:to="label_BusinessAcquisitionNumberOfUnitsInBusinessAcquired_4" xlink:title="label: BusinessAcquisitionNumberOfUnitsInBusinessAcquired to label_BusinessAcquisitionNumberOfUnitsInBusinessAcquired" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NumberOfBedsOrUnitsUnderDevelopment" xlink:label="NumberOfBedsOrUnitsUnderDevelopment" xlink:title="NumberOfBedsOrUnitsUnderDevelopment" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfBedsOrUnitsUnderDevelopment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfBedsOrUnitsUnderDevelopment" xml:lang="en-US" id="label_NumberOfBedsOrUnitsUnderDevelopment">Represents the number of beds/units under development.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfBedsOrUnitsUnderDevelopment" xlink:to="label_NumberOfBedsOrUnitsUnderDevelopment" xlink:title="label: NumberOfBedsOrUnitsUnderDevelopment to label_NumberOfBedsOrUnitsUnderDevelopment" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfBedsOrUnitsUnderDevelopment_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfBedsOrUnitsUnderDevelopment" xml:lang="en-US" id="label_NumberOfBedsOrUnitsUnderDevelopment_2">Number of beds/units acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfBedsOrUnitsUnderDevelopment" xlink:to="label_NumberOfBedsOrUnitsUnderDevelopment_2" xlink:title="label: NumberOfBedsOrUnitsUnderDevelopment to label_NumberOfBedsOrUnitsUnderDevelopment" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfBedsOrUnitsUnderDevelopment_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfBedsOrUnitsUnderDevelopment" xml:lang="en-US" id="label_NumberOfBedsOrUnitsUnderDevelopment_3">Number of Beds or Units under Development</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfBedsOrUnitsUnderDevelopment" xlink:to="label_NumberOfBedsOrUnitsUnderDevelopment_3" xlink:title="label: NumberOfBedsOrUnitsUnderDevelopment to label_NumberOfBedsOrUnitsUnderDevelopment" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NumberOfLeaseAgreementsOfExistingPropertiesForCapitalImprovements" xlink:label="NumberOfLeaseAgreementsOfExistingPropertiesForCapitalImprovements" xlink:title="NumberOfLeaseAgreementsOfExistingPropertiesForCapitalImprovements" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfLeaseAgreementsOfExistingPropertiesForCapitalImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfLeaseAgreementsOfExistingPropertiesForCapitalImprovements" xml:lang="en-US" id="label_NumberOfLeaseAgreementsOfExistingPropertiesForCapitalImprovements">Number of Lease Agreements of Existing Properties for Capital Improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfLeaseAgreementsOfExistingPropertiesForCapitalImprovements" xlink:to="label_NumberOfLeaseAgreementsOfExistingPropertiesForCapitalImprovements" xlink:title="label: NumberOfLeaseAgreementsOfExistingPropertiesForCapitalImprovements to label_NumberOfLeaseAgreementsOfExistingPropertiesForCapitalImprovements" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfLeaseAgreementsOfExistingPropertiesForCapitalImprovements_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfLeaseAgreementsOfExistingPropertiesForCapitalImprovements" xml:lang="en-US" id="label_NumberOfLeaseAgreementsOfExistingPropertiesForCapitalImprovements_2">Number of lease agreements for existing properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfLeaseAgreementsOfExistingPropertiesForCapitalImprovements" xlink:to="label_NumberOfLeaseAgreementsOfExistingPropertiesForCapitalImprovements_2" xlink:title="label: NumberOfLeaseAgreementsOfExistingPropertiesForCapitalImprovements to label_NumberOfLeaseAgreementsOfExistingPropertiesForCapitalImprovements" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfLeaseAgreementsOfExistingPropertiesForCapitalImprovements_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfLeaseAgreementsOfExistingPropertiesForCapitalImprovements" xml:lang="en-US" id="label_NumberOfLeaseAgreementsOfExistingPropertiesForCapitalImprovements_3">Represents the number of lease agreements for the existing properties in which the entity has invested in capital improvements, whose rental rates are reflected in the entity's investment.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfLeaseAgreementsOfExistingPropertiesForCapitalImprovements" xlink:to="label_NumberOfLeaseAgreementsOfExistingPropertiesForCapitalImprovements_3" xlink:title="label: NumberOfLeaseAgreementsOfExistingPropertiesForCapitalImprovements to label_NumberOfLeaseAgreementsOfExistingPropertiesForCapitalImprovements" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_PropertiesNumberOfUnitsOrBed" xlink:label="PropertiesNumberOfUnitsOrBed" xlink:title="PropertiesNumberOfUnitsOrBed" />
    <link:label xlink:type="resource" xlink:label="label_PropertiesNumberOfUnitsOrBed" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PropertiesNumberOfUnitsOrBed" xml:lang="en-US" id="label_PropertiesNumberOfUnitsOrBed">Properties Number of Units or Bed</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertiesNumberOfUnitsOrBed" xlink:to="label_PropertiesNumberOfUnitsOrBed" xlink:title="label: PropertiesNumberOfUnitsOrBed to label_PropertiesNumberOfUnitsOrBed" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PropertiesNumberOfUnitsOrBed_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PropertiesNumberOfUnitsOrBed" xml:lang="en-US" id="label_PropertiesNumberOfUnitsOrBed_2">Number of beds or units under development</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertiesNumberOfUnitsOrBed" xlink:to="label_PropertiesNumberOfUnitsOrBed_2" xlink:title="label: PropertiesNumberOfUnitsOrBed to label_PropertiesNumberOfUnitsOrBed" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PropertiesNumberOfUnitsOrBed_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PropertiesNumberOfUnitsOrBed" xml:lang="en-US" id="label_PropertiesNumberOfUnitsOrBed_3">Represents the number of beds/units under development.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertiesNumberOfUnitsOrBed" xlink:to="label_PropertiesNumberOfUnitsOrBed_3" xlink:title="label: PropertiesNumberOfUnitsOrBed to label_PropertiesNumberOfUnitsOrBed" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateLoansPaidOffNumberOfUnitsOrBeds" xlink:label="MortgageLoansOnRealEstateLoansPaidOffNumberOfUnitsOrBeds" xlink:title="MortgageLoansOnRealEstateLoansPaidOffNumberOfUnitsOrBeds" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateLoansPaidOffNumberOfUnitsOrBeds" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateLoansPaidOffNumberOfUnitsOrBeds" xml:lang="en-US" id="label_MortgageLoansOnRealEstateLoansPaidOffNumberOfUnitsOrBeds">Number of units/beds at the property securing mortgage loans paid off</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateLoansPaidOffNumberOfUnitsOrBeds" xlink:to="label_MortgageLoansOnRealEstateLoansPaidOffNumberOfUnitsOrBeds" xlink:title="label: MortgageLoansOnRealEstateLoansPaidOffNumberOfUnitsOrBeds to label_MortgageLoansOnRealEstateLoansPaidOffNumberOfUnitsOrBeds" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateLoansPaidOffNumberOfUnitsOrBeds_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateLoansPaidOffNumberOfUnitsOrBeds" xml:lang="en-US" id="label_MortgageLoansOnRealEstateLoansPaidOffNumberOfUnitsOrBeds_2">Represents the number of units/beds at the property securing mortgage loans paid off.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateLoansPaidOffNumberOfUnitsOrBeds" xlink:to="label_MortgageLoansOnRealEstateLoansPaidOffNumberOfUnitsOrBeds_2" xlink:title="label: MortgageLoansOnRealEstateLoansPaidOffNumberOfUnitsOrBeds to label_MortgageLoansOnRealEstateLoansPaidOffNumberOfUnitsOrBeds" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateLoansPaidOffNumberOfUnitsOrBeds_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateLoansPaidOffNumberOfUnitsOrBeds" xml:lang="en-US" id="label_MortgageLoansOnRealEstateLoansPaidOffNumberOfUnitsOrBeds_3">Mortgage Loans on Real Estate Loans Paid Off Number of Units or Beds</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateLoansPaidOffNumberOfUnitsOrBeds" xlink:to="label_MortgageLoansOnRealEstateLoansPaidOffNumberOfUnitsOrBeds_3" xlink:title="label: MortgageLoansOnRealEstateLoansPaidOffNumberOfUnitsOrBeds to label_MortgageLoansOnRealEstateLoansPaidOffNumberOfUnitsOrBeds" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ContingentEarnOutPaymentMaximum" xlink:label="ContingentEarnOutPaymentMaximum" xlink:title="ContingentEarnOutPaymentMaximum" />
    <link:label xlink:type="resource" xlink:label="label_ContingentEarnOutPaymentMaximum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ContingentEarnOutPaymentMaximum" xml:lang="en-US" id="label_ContingentEarnOutPaymentMaximum">Contingent Earn Out Payment Maximum</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentEarnOutPaymentMaximum" xlink:to="label_ContingentEarnOutPaymentMaximum" xlink:title="label: ContingentEarnOutPaymentMaximum to label_ContingentEarnOutPaymentMaximum" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ContingentEarnOutPaymentMaximum_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ContingentEarnOutPaymentMaximum" xml:lang="en-US" id="label_ContingentEarnOutPaymentMaximum_2">Total contingent earn-out payment, maximum</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentEarnOutPaymentMaximum" xlink:to="label_ContingentEarnOutPaymentMaximum_2" xlink:title="label: ContingentEarnOutPaymentMaximum to label_ContingentEarnOutPaymentMaximum" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ContingentEarnOutPaymentMaximum_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ContingentEarnOutPaymentMaximum" xml:lang="en-US" id="label_ContingentEarnOutPaymentMaximum_3">Represents the maximum contingent earn-out payment.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentEarnOutPaymentMaximum" xlink:to="label_ContingentEarnOutPaymentMaximum_3" xlink:title="label: ContingentEarnOutPaymentMaximum to label_ContingentEarnOutPaymentMaximum" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ContingentEarnOutPaymentMaximum_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ContingentEarnOutPaymentMaximum" xml:lang="en-US" id="label_ContingentEarnOutPaymentMaximum_4">Contingent earn-out payments, maximum</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentEarnOutPaymentMaximum" xlink:to="label_ContingentEarnOutPaymentMaximum_4" xlink:title="label: ContingentEarnOutPaymentMaximum to label_ContingentEarnOutPaymentMaximum" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ContingentEarnOutPaymentMaximum_5" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_ContingentEarnOutPaymentMaximum" xml:lang="en-US" id="label_ContingentEarnOutPaymentMaximum_5">Total contingent earn-out payments, maximum</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentEarnOutPaymentMaximum" xlink:to="label_ContingentEarnOutPaymentMaximum_5" xlink:title="label: ContingentEarnOutPaymentMaximum to label_ContingentEarnOutPaymentMaximum" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NumberOfEarnOutPaymentsRequired" xlink:label="NumberOfEarnOutPaymentsRequired" xlink:title="NumberOfEarnOutPaymentsRequired" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfEarnOutPaymentsRequired" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfEarnOutPaymentsRequired" xml:lang="en-US" id="label_NumberOfEarnOutPaymentsRequired">The number of earn out payments required to be made by the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfEarnOutPaymentsRequired" xlink:to="label_NumberOfEarnOutPaymentsRequired" xlink:title="label: NumberOfEarnOutPaymentsRequired to label_NumberOfEarnOutPaymentsRequired" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfEarnOutPaymentsRequired_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfEarnOutPaymentsRequired" xml:lang="en-US" id="label_NumberOfEarnOutPaymentsRequired_2">Number of earn-out payments required</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfEarnOutPaymentsRequired" xlink:to="label_NumberOfEarnOutPaymentsRequired_2" xlink:title="label: NumberOfEarnOutPaymentsRequired to label_NumberOfEarnOutPaymentsRequired" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfEarnOutPaymentsRequired_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfEarnOutPaymentsRequired" xml:lang="en-US" id="label_NumberOfEarnOutPaymentsRequired_3">Number of Earn Out Payments Required</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfEarnOutPaymentsRequired" xlink:to="label_NumberOfEarnOutPaymentsRequired_3" xlink:title="label: NumberOfEarnOutPaymentsRequired to label_NumberOfEarnOutPaymentsRequired" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_EarnOutLiabilitiesRecordedAtAcquisition" xlink:label="EarnOutLiabilitiesRecordedAtAcquisition" xlink:title="EarnOutLiabilitiesRecordedAtAcquisition" />
    <link:label xlink:type="resource" xlink:label="label_EarnOutLiabilitiesRecordedAtAcquisition" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EarnOutLiabilitiesRecordedAtAcquisition" xml:lang="en-US" id="label_EarnOutLiabilitiesRecordedAtAcquisition">Earn Out Liabilities Recorded at Acquisition</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarnOutLiabilitiesRecordedAtAcquisition" xlink:to="label_EarnOutLiabilitiesRecordedAtAcquisition" xlink:title="label: EarnOutLiabilitiesRecordedAtAcquisition to label_EarnOutLiabilitiesRecordedAtAcquisition" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EarnOutLiabilitiesRecordedAtAcquisition_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EarnOutLiabilitiesRecordedAtAcquisition" xml:lang="en-US" id="label_EarnOutLiabilitiesRecordedAtAcquisition_2">Earn-out liabilities, amount recorded at date of acquisition</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarnOutLiabilitiesRecordedAtAcquisition" xlink:to="label_EarnOutLiabilitiesRecordedAtAcquisition_2" xlink:title="label: EarnOutLiabilitiesRecordedAtAcquisition to label_EarnOutLiabilitiesRecordedAtAcquisition" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EarnOutLiabilitiesRecordedAtAcquisition_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_EarnOutLiabilitiesRecordedAtAcquisition" xml:lang="en-US" id="label_EarnOutLiabilitiesRecordedAtAcquisition_3">Represents earn-out liabilities recorded at the time of the acquisition.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarnOutLiabilitiesRecordedAtAcquisition" xlink:to="label_EarnOutLiabilitiesRecordedAtAcquisition_3" xlink:title="label: EarnOutLiabilitiesRecordedAtAcquisition to label_EarnOutLiabilitiesRecordedAtAcquisition" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_EarnOutLiabilitiesNonCashInterestExpense" xlink:label="EarnOutLiabilitiesNonCashInterestExpense" xlink:title="EarnOutLiabilitiesNonCashInterestExpense" />
    <link:label xlink:type="resource" xlink:label="label_EarnOutLiabilitiesNonCashInterestExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EarnOutLiabilitiesNonCashInterestExpense" xml:lang="en-US" id="label_EarnOutLiabilitiesNonCashInterestExpense">Earn Out Liabilities Non Cash Interest Expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarnOutLiabilitiesNonCashInterestExpense" xlink:to="label_EarnOutLiabilitiesNonCashInterestExpense" xlink:title="label: EarnOutLiabilitiesNonCashInterestExpense to label_EarnOutLiabilitiesNonCashInterestExpense" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EarnOutLiabilitiesNonCashInterestExpense_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EarnOutLiabilitiesNonCashInterestExpense" xml:lang="en-US" id="label_EarnOutLiabilitiesNonCashInterestExpense_2">Non-cash interest expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarnOutLiabilitiesNonCashInterestExpense" xlink:to="label_EarnOutLiabilitiesNonCashInterestExpense_2" xlink:title="label: EarnOutLiabilitiesNonCashInterestExpense to label_EarnOutLiabilitiesNonCashInterestExpense" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EarnOutLiabilitiesNonCashInterestExpense_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_EarnOutLiabilitiesNonCashInterestExpense" xml:lang="en-US" id="label_EarnOutLiabilitiesNonCashInterestExpense_3">Represents the non-cash interest expense related to the earn-out liabilities which represents the accretion of the difference between the current fair value and estimated payment of the contingent earn-out liabilities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarnOutLiabilitiesNonCashInterestExpense" xlink:to="label_EarnOutLiabilitiesNonCashInterestExpense_3" xlink:title="label: EarnOutLiabilitiesNonCashInterestExpense to label_EarnOutLiabilitiesNonCashInterestExpense" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NumberOfExistingPropertiesForCapitalImprovements" xlink:label="NumberOfExistingPropertiesForCapitalImprovements" xlink:title="NumberOfExistingPropertiesForCapitalImprovements" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfExistingPropertiesForCapitalImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfExistingPropertiesForCapitalImprovements" xml:lang="en-US" id="label_NumberOfExistingPropertiesForCapitalImprovements">Number of Existing Properties for Capital Improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfExistingPropertiesForCapitalImprovements" xlink:to="label_NumberOfExistingPropertiesForCapitalImprovements" xlink:title="label: NumberOfExistingPropertiesForCapitalImprovements to label_NumberOfExistingPropertiesForCapitalImprovements" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfExistingPropertiesForCapitalImprovements_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfExistingPropertiesForCapitalImprovements" xml:lang="en-US" id="label_NumberOfExistingPropertiesForCapitalImprovements_2">Number of existing properties for capital improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfExistingPropertiesForCapitalImprovements" xlink:to="label_NumberOfExistingPropertiesForCapitalImprovements_2" xlink:title="label: NumberOfExistingPropertiesForCapitalImprovements to label_NumberOfExistingPropertiesForCapitalImprovements" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfExistingPropertiesForCapitalImprovements_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfExistingPropertiesForCapitalImprovements" xml:lang="en-US" id="label_NumberOfExistingPropertiesForCapitalImprovements_3">Represents the number of existing properties for which the entity has invested in capital improvements and whose rental rates already reflect the investment.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfExistingPropertiesForCapitalImprovements" xlink:to="label_NumberOfExistingPropertiesForCapitalImprovements_3" xlink:title="label: NumberOfExistingPropertiesForCapitalImprovements to label_NumberOfExistingPropertiesForCapitalImprovements" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ContingentEarnOutPaymentFirstPaymentAmount" xlink:label="ContingentEarnOutPaymentFirstPaymentAmount" xlink:title="ContingentEarnOutPaymentFirstPaymentAmount" />
    <link:label xlink:type="resource" xlink:label="label_ContingentEarnOutPaymentFirstPaymentAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ContingentEarnOutPaymentFirstPaymentAmount" xml:lang="en-US" id="label_ContingentEarnOutPaymentFirstPaymentAmount">Contingent Earn Out Payment First Payment Amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentEarnOutPaymentFirstPaymentAmount" xlink:to="label_ContingentEarnOutPaymentFirstPaymentAmount" xlink:title="label: ContingentEarnOutPaymentFirstPaymentAmount to label_ContingentEarnOutPaymentFirstPaymentAmount" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ContingentEarnOutPaymentFirstPaymentAmount_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ContingentEarnOutPaymentFirstPaymentAmount" xml:lang="en-US" id="label_ContingentEarnOutPaymentFirstPaymentAmount_2">First contingent earn-out payment, amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentEarnOutPaymentFirstPaymentAmount" xlink:to="label_ContingentEarnOutPaymentFirstPaymentAmount_2" xlink:title="label: ContingentEarnOutPaymentFirstPaymentAmount to label_ContingentEarnOutPaymentFirstPaymentAmount" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ContingentEarnOutPaymentFirstPaymentAmount_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ContingentEarnOutPaymentFirstPaymentAmount" xml:lang="en-US" id="label_ContingentEarnOutPaymentFirstPaymentAmount_3">Represents cash outflow for the first contingent earn-out payment.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentEarnOutPaymentFirstPaymentAmount" xlink:to="label_ContingentEarnOutPaymentFirstPaymentAmount_3" xlink:title="label: ContingentEarnOutPaymentFirstPaymentAmount to label_ContingentEarnOutPaymentFirstPaymentAmount" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ContingentEarnOutPaymentFirstPaymentAmount_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ContingentEarnOutPaymentFirstPaymentAmount" xml:lang="en-US" id="label_ContingentEarnOutPaymentFirstPaymentAmount_4">First contingent earn-out payment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentEarnOutPaymentFirstPaymentAmount" xlink:to="label_ContingentEarnOutPaymentFirstPaymentAmount_4" xlink:title="label: ContingentEarnOutPaymentFirstPaymentAmount to label_ContingentEarnOutPaymentFirstPaymentAmount" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_BusinessAcquisitionsAmountInvestedForCapitalImprovements" xlink:label="BusinessAcquisitionsAmountInvestedForCapitalImprovements" xlink:title="BusinessAcquisitionsAmountInvestedForCapitalImprovements" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionsAmountInvestedForCapitalImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BusinessAcquisitionsAmountInvestedForCapitalImprovements" xml:lang="en-US" id="label_BusinessAcquisitionsAmountInvestedForCapitalImprovements">Business Acquisitions, Amount Invested for Capital Improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionsAmountInvestedForCapitalImprovements" xlink:to="label_BusinessAcquisitionsAmountInvestedForCapitalImprovements" xlink:title="label: BusinessAcquisitionsAmountInvestedForCapitalImprovements to label_BusinessAcquisitionsAmountInvestedForCapitalImprovements" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionsAmountInvestedForCapitalImprovements_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BusinessAcquisitionsAmountInvestedForCapitalImprovements" xml:lang="en-US" id="label_BusinessAcquisitionsAmountInvestedForCapitalImprovements_2">Amount invested for capital improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionsAmountInvestedForCapitalImprovements" xlink:to="label_BusinessAcquisitionsAmountInvestedForCapitalImprovements_2" xlink:title="label: BusinessAcquisitionsAmountInvestedForCapitalImprovements to label_BusinessAcquisitionsAmountInvestedForCapitalImprovements" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionsAmountInvestedForCapitalImprovements_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BusinessAcquisitionsAmountInvestedForCapitalImprovements" xml:lang="en-US" id="label_BusinessAcquisitionsAmountInvestedForCapitalImprovements_3">Represents the amount invested for the capital improvements in properties acquired.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionsAmountInvestedForCapitalImprovements" xlink:to="label_BusinessAcquisitionsAmountInvestedForCapitalImprovements_3" xlink:title="label: BusinessAcquisitionsAmountInvestedForCapitalImprovements to label_BusinessAcquisitionsAmountInvestedForCapitalImprovements" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalExpendituresMember" xlink:label="CapitalExpendituresMember" xlink:title="CapitalExpendituresMember" />
    <link:label xlink:type="resource" xlink:label="label_CapitalExpendituresMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalExpendituresMember" xml:lang="en-US" id="label_CapitalExpendituresMember">Capital Expenditures [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalExpendituresMember" xlink:to="label_CapitalExpendituresMember" xlink:title="label: CapitalExpendituresMember to label_CapitalExpendituresMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalExpendituresMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalExpendituresMember" xml:lang="en-US" id="label_CapitalExpendituresMember_2">Represents capital expenditures.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalExpendituresMember" xlink:to="label_CapitalExpendituresMember_2" xlink:title="label: CapitalExpendituresMember to label_CapitalExpendituresMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalExpendituresMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_CapitalExpendituresMember" xml:lang="en-US" id="label_CapitalExpendituresMember_3">Capital improvement commitments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalExpendituresMember" xlink:to="label_CapitalExpendituresMember_3" xlink:title="label: CapitalExpendituresMember to label_CapitalExpendituresMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalExpendituresMember_4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalExpendituresMember" xml:lang="en-US" id="label_CapitalExpendituresMember_4">Subsequent capital expenditures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalExpendituresMember" xlink:to="label_CapitalExpendituresMember_4" xlink:title="label: CapitalExpendituresMember to label_CapitalExpendituresMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LoanCommitmentMember" xlink:label="LoanCommitmentMember" xlink:title="LoanCommitmentMember" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LoanCommitmentMember" xml:lang="en-US" id="label_LoanCommitmentMember">Loan Commitment [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentMember" xlink:to="label_LoanCommitmentMember" xlink:title="label: LoanCommitmentMember to label_LoanCommitmentMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LoanCommitmentMember" xml:lang="en-US" id="label_LoanCommitmentMember_2">Subsequent loan commitment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentMember" xlink:to="label_LoanCommitmentMember_2" xlink:title="label: LoanCommitmentMember to label_LoanCommitmentMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LoanCommitmentMember" xml:lang="en-US" id="label_LoanCommitmentMember_3">Represents loan commitments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentMember" xlink:to="label_LoanCommitmentMember_3" xlink:title="label: LoanCommitmentMember to label_LoanCommitmentMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementAndLoanCommitmentsByExpirationDateAxis" xlink:label="CapitalImprovementAndLoanCommitmentsByExpirationDateAxis" xlink:title="CapitalImprovementAndLoanCommitmentsByExpirationDateAxis" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementAndLoanCommitmentsByExpirationDateAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementAndLoanCommitmentsByExpirationDateAxis" xml:lang="en-US" id="label_CapitalImprovementAndLoanCommitmentsByExpirationDateAxis">Capital Improvement and Loan Commitments by Expiration Date [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementAndLoanCommitmentsByExpirationDateAxis" xlink:to="label_CapitalImprovementAndLoanCommitmentsByExpirationDateAxis" xlink:title="label: CapitalImprovementAndLoanCommitmentsByExpirationDateAxis to label_CapitalImprovementAndLoanCommitmentsByExpirationDateAxis" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementAndLoanCommitmentsByExpirationDateAxis_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementAndLoanCommitmentsByExpirationDateAxis" xml:lang="en-US" id="label_CapitalImprovementAndLoanCommitmentsByExpirationDateAxis_2">Represents the information pertaining to capital improvement and loan commitments by expiration date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementAndLoanCommitmentsByExpirationDateAxis" xlink:to="label_CapitalImprovementAndLoanCommitmentsByExpirationDateAxis_2" xlink:title="label: CapitalImprovementAndLoanCommitmentsByExpirationDateAxis to label_CapitalImprovementAndLoanCommitmentsByExpirationDateAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementAndLoanCommitmentsByExpirationDateDomain" xlink:label="CapitalImprovementAndLoanCommitmentsByExpirationDateDomain" xlink:title="CapitalImprovementAndLoanCommitmentsByExpirationDateDomain" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementAndLoanCommitmentsByExpirationDateDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementAndLoanCommitmentsByExpirationDateDomain" xml:lang="en-US" id="label_CapitalImprovementAndLoanCommitmentsByExpirationDateDomain">Capital Improvement and Loan Commitments by Expiration Date [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementAndLoanCommitmentsByExpirationDateDomain" xlink:to="label_CapitalImprovementAndLoanCommitmentsByExpirationDateDomain" xlink:title="label: CapitalImprovementAndLoanCommitmentsByExpirationDateDomain to label_CapitalImprovementAndLoanCommitmentsByExpirationDateDomain" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementAndLoanCommitmentsByExpirationDateDomain_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementAndLoanCommitmentsByExpirationDateDomain" xml:lang="en-US" id="label_CapitalImprovementAndLoanCommitmentsByExpirationDateDomain_2">Represents capital improvement and loan commitments by expiration date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementAndLoanCommitmentsByExpirationDateDomain" xlink:to="label_CapitalImprovementAndLoanCommitmentsByExpirationDateDomain_2" xlink:title="label: CapitalImprovementAndLoanCommitmentsByExpirationDateDomain to label_CapitalImprovementAndLoanCommitmentsByExpirationDateDomain" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementAndLoanCommitmentsLineItems" xlink:label="CapitalImprovementAndLoanCommitmentsLineItems" xlink:title="CapitalImprovementAndLoanCommitmentsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementAndLoanCommitmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementAndLoanCommitmentsLineItems" xml:lang="en-US" id="label_CapitalImprovementAndLoanCommitmentsLineItems">Capital Improvement and Loan Commitments [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementAndLoanCommitmentsLineItems" xlink:to="label_CapitalImprovementAndLoanCommitmentsLineItems" xlink:title="label: CapitalImprovementAndLoanCommitmentsLineItems to label_CapitalImprovementAndLoanCommitmentsLineItems" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementAndLoanCommitmentsLineItems_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementAndLoanCommitmentsLineItems" xml:lang="en-US" id="label_CapitalImprovementAndLoanCommitmentsLineItems_2">Commitments and Contingencies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementAndLoanCommitmentsLineItems" xlink:to="label_CapitalImprovementAndLoanCommitmentsLineItems_2" xlink:title="label: CapitalImprovementAndLoanCommitmentsLineItems to label_CapitalImprovementAndLoanCommitmentsLineItems" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementAndLoanCommitmentsLineItems_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_CapitalImprovementAndLoanCommitmentsLineItems" xml:lang="en-US" id="label_CapitalImprovementAndLoanCommitmentsLineItems_3">Notes Receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementAndLoanCommitmentsLineItems" xlink:to="label_CapitalImprovementAndLoanCommitmentsLineItems_3" xlink:title="label: CapitalImprovementAndLoanCommitmentsLineItems to label_CapitalImprovementAndLoanCommitmentsLineItems" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SummaryOfSignificantAccountingPoliciesLineItems" xlink:label="SummaryOfSignificantAccountingPoliciesLineItems" xlink:title="SummaryOfSignificantAccountingPoliciesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_SummaryOfSignificantAccountingPoliciesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SummaryOfSignificantAccountingPoliciesLineItems" xml:lang="en-US" id="label_SummaryOfSignificantAccountingPoliciesLineItems">Summary of Significant Accounting Policies [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SummaryOfSignificantAccountingPoliciesLineItems" xlink:to="label_SummaryOfSignificantAccountingPoliciesLineItems" xlink:title="label: SummaryOfSignificantAccountingPoliciesLineItems to label_SummaryOfSignificantAccountingPoliciesLineItems" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SummaryOfSignificantAccountingPoliciesLineItems_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SummaryOfSignificantAccountingPoliciesLineItems" xml:lang="en-US" id="label_SummaryOfSignificantAccountingPoliciesLineItems_2">Revenue Recognition</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SummaryOfSignificantAccountingPoliciesLineItems" xlink:to="label_SummaryOfSignificantAccountingPoliciesLineItems_2" xlink:title="label: SummaryOfSignificantAccountingPoliciesLineItems to label_SummaryOfSignificantAccountingPoliciesLineItems" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentExpiringAugust012012Member" xlink:label="CapitalImprovementCommitmentExpiringAugust012012Member" xlink:title="CapitalImprovementCommitmentExpiringAugust012012Member" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringAugust012012Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentExpiringAugust012012Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringAugust012012Member">Represents information pertaining to the capital improvement commitment expiring on August 1, 2012.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringAugust012012Member" xlink:to="label_CapitalImprovementCommitmentExpiringAugust012012Member" xlink:title="label: CapitalImprovementCommitmentExpiringAugust012012Member to label_CapitalImprovementCommitmentExpiringAugust012012Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringAugust012012Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentExpiringAugust012012Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringAugust012012Member_2">Capital improvement commitment expiring 8/1/2012</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringAugust012012Member" xlink:to="label_CapitalImprovementCommitmentExpiringAugust012012Member_2" xlink:title="label: CapitalImprovementCommitmentExpiringAugust012012Member to label_CapitalImprovementCommitmentExpiringAugust012012Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringAugust012012Member_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentExpiringAugust012012Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringAugust012012Member_3">Capital Improvement Commitment Expiring August 01, 2012 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringAugust012012Member" xlink:to="label_CapitalImprovementCommitmentExpiringAugust012012Member_3" xlink:title="label: CapitalImprovementCommitmentExpiringAugust012012Member to label_CapitalImprovementCommitmentExpiringAugust012012Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentExpiringAugust312013Member" xlink:label="CapitalImprovementCommitmentExpiringAugust312013Member" xlink:title="CapitalImprovementCommitmentExpiringAugust312013Member" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringAugust312013Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentExpiringAugust312013Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringAugust312013Member">Capital Improvement Commitment Expiring August 31, 2013 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringAugust312013Member" xlink:to="label_CapitalImprovementCommitmentExpiringAugust312013Member" xlink:title="label: CapitalImprovementCommitmentExpiringAugust312013Member to label_CapitalImprovementCommitmentExpiringAugust312013Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringAugust312013Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentExpiringAugust312013Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringAugust312013Member_2">Capital improvement commitment expiring 8/31/2013</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringAugust312013Member" xlink:to="label_CapitalImprovementCommitmentExpiringAugust312013Member_2" xlink:title="label: CapitalImprovementCommitmentExpiringAugust312013Member to label_CapitalImprovementCommitmentExpiringAugust312013Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringAugust312013Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentExpiringAugust312013Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringAugust312013Member_3">Represents information pertaining to the capital improvement commitment expiring on August 31, 2013.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringAugust312013Member" xlink:to="label_CapitalImprovementCommitmentExpiringAugust312013Member_3" xlink:title="label: CapitalImprovementCommitmentExpiringAugust312013Member to label_CapitalImprovementCommitmentExpiringAugust312013Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentExpiringOctober112013Member" xlink:label="CapitalImprovementCommitmentExpiringOctober112013Member" xlink:title="CapitalImprovementCommitmentExpiringOctober112013Member" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringOctober112013Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentExpiringOctober112013Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringOctober112013Member">Capital Improvement Commitment Expiring October 11, 2013 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringOctober112013Member" xlink:to="label_CapitalImprovementCommitmentExpiringOctober112013Member" xlink:title="label: CapitalImprovementCommitmentExpiringOctober112013Member to label_CapitalImprovementCommitmentExpiringOctober112013Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringOctober112013Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentExpiringOctober112013Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringOctober112013Member_2">Capital improvement commitment expiring 10/11/2013</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringOctober112013Member" xlink:to="label_CapitalImprovementCommitmentExpiringOctober112013Member_2" xlink:title="label: CapitalImprovementCommitmentExpiringOctober112013Member to label_CapitalImprovementCommitmentExpiringOctober112013Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringOctober112013Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentExpiringOctober112013Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringOctober112013Member_3">Represents information pertaining to the capital improvement commitment expiring on October 11, 2013.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringOctober112013Member" xlink:to="label_CapitalImprovementCommitmentExpiringOctober112013Member_3" xlink:title="label: CapitalImprovementCommitmentExpiringOctober112013Member to label_CapitalImprovementCommitmentExpiringOctober112013Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentExpiringDecember312014Member" xlink:label="CapitalImprovementCommitmentExpiringDecember312014Member" xlink:title="CapitalImprovementCommitmentExpiringDecember312014Member" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringDecember312014Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentExpiringDecember312014Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringDecember312014Member">Capital Improvement Commitment Expiring December 31, 2014 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringDecember312014Member" xlink:to="label_CapitalImprovementCommitmentExpiringDecember312014Member" xlink:title="label: CapitalImprovementCommitmentExpiringDecember312014Member to label_CapitalImprovementCommitmentExpiringDecember312014Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringDecember312014Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentExpiringDecember312014Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringDecember312014Member_2">Capital improvement commitment expiring 12/31/2014</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringDecember312014Member" xlink:to="label_CapitalImprovementCommitmentExpiringDecember312014Member_2" xlink:title="label: CapitalImprovementCommitmentExpiringDecember312014Member to label_CapitalImprovementCommitmentExpiringDecember312014Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringDecember312014Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentExpiringDecember312014Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringDecember312014Member_3">Represents information pertaining to the capital improvement commitment expiring on December 31, 2014.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringDecember312014Member" xlink:to="label_CapitalImprovementCommitmentExpiringDecember312014Member_3" xlink:title="label: CapitalImprovementCommitmentExpiringDecember312014Member to label_CapitalImprovementCommitmentExpiringDecember312014Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LoanCommitmentExpiringMarch312013Member" xlink:label="LoanCommitmentExpiringMarch312013Member" xlink:title="LoanCommitmentExpiringMarch312013Member" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringMarch312013Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LoanCommitmentExpiringMarch312013Member" xml:lang="en-US" id="label_LoanCommitmentExpiringMarch312013Member">Represents information pertaining to the loan commitment expiring on March 31, 2013.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringMarch312013Member" xlink:to="label_LoanCommitmentExpiringMarch312013Member" xlink:title="label: LoanCommitmentExpiringMarch312013Member to label_LoanCommitmentExpiringMarch312013Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringMarch312013Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LoanCommitmentExpiringMarch312013Member" xml:lang="en-US" id="label_LoanCommitmentExpiringMarch312013Member_2">Loan Commitment Expiring March 31, 2013 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringMarch312013Member" xlink:to="label_LoanCommitmentExpiringMarch312013Member_2" xlink:title="label: LoanCommitmentExpiringMarch312013Member to label_LoanCommitmentExpiringMarch312013Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringMarch312013Member_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LoanCommitmentExpiringMarch312013Member" xml:lang="en-US" id="label_LoanCommitmentExpiringMarch312013Member_3">Loan commitment expiring 3/31/2013</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringMarch312013Member" xlink:to="label_LoanCommitmentExpiringMarch312013Member_3" xlink:title="label: LoanCommitmentExpiringMarch312013Member to label_LoanCommitmentExpiringMarch312013Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LoanCommitmentExpiringDecember312012Member" xlink:label="LoanCommitmentExpiringDecember312012Member" xlink:title="LoanCommitmentExpiringDecember312012Member" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringDecember312012Member" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_LoanCommitmentExpiringDecember312012Member" xml:lang="en-US" id="label_LoanCommitmentExpiringDecember312012Member">Loan commitment expiring on December 31, 2012</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringDecember312012Member" xlink:to="label_LoanCommitmentExpiringDecember312012Member" xlink:title="label: LoanCommitmentExpiringDecember312012Member to label_LoanCommitmentExpiringDecember312012Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringDecember312012Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LoanCommitmentExpiringDecember312012Member" xml:lang="en-US" id="label_LoanCommitmentExpiringDecember312012Member_2">Loan Commitment Expiring December 31, 2012 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringDecember312012Member" xlink:to="label_LoanCommitmentExpiringDecember312012Member_2" xlink:title="label: LoanCommitmentExpiringDecember312012Member to label_LoanCommitmentExpiringDecember312012Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringDecember312012Member_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LoanCommitmentExpiringDecember312012Member" xml:lang="en-US" id="label_LoanCommitmentExpiringDecember312012Member_3">Loan commitment expiring 12/31/2012</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringDecember312012Member" xlink:to="label_LoanCommitmentExpiringDecember312012Member_3" xlink:title="label: LoanCommitmentExpiringDecember312012Member to label_LoanCommitmentExpiringDecember312012Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringDecember312012Member_4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LoanCommitmentExpiringDecember312012Member" xml:lang="en-US" id="label_LoanCommitmentExpiringDecember312012Member_4">Represents information pertaining to the loan commitment expiring on December 31, 2012.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringDecember312012Member" xlink:to="label_LoanCommitmentExpiringDecember312012Member_4" xlink:title="label: LoanCommitmentExpiringDecember312012Member to label_LoanCommitmentExpiringDecember312012Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LoanCommitmentExpiringInMay2018Member" xlink:label="LoanCommitmentExpiringInMay2018Member" xlink:title="LoanCommitmentExpiringInMay2018Member" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringInMay2018Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LoanCommitmentExpiringInMay2018Member" xml:lang="en-US" id="label_LoanCommitmentExpiringInMay2018Member">Loan Commitment Expiring in May 2018 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringInMay2018Member" xlink:to="label_LoanCommitmentExpiringInMay2018Member" xlink:title="label: LoanCommitmentExpiringInMay2018Member to label_LoanCommitmentExpiringInMay2018Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringInMay2018Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LoanCommitmentExpiringInMay2018Member" xml:lang="en-US" id="label_LoanCommitmentExpiringInMay2018Member_2">Loan maturing in May 2018</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringInMay2018Member" xlink:to="label_LoanCommitmentExpiringInMay2018Member_2" xlink:title="label: LoanCommitmentExpiringInMay2018Member to label_LoanCommitmentExpiringInMay2018Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringInMay2018Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LoanCommitmentExpiringInMay2018Member" xml:lang="en-US" id="label_LoanCommitmentExpiringInMay2018Member_3">Represents information pertaining to the loan commitment expiring in May 2018.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringInMay2018Member" xlink:to="label_LoanCommitmentExpiringInMay2018Member_3" xlink:title="label: LoanCommitmentExpiringInMay2018Member to label_LoanCommitmentExpiringInMay2018Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LoanCommitmentExpiringInNovember2017Member" xlink:label="LoanCommitmentExpiringInNovember2017Member" xlink:title="LoanCommitmentExpiringInNovember2017Member" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringInNovember2017Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LoanCommitmentExpiringInNovember2017Member" xml:lang="en-US" id="label_LoanCommitmentExpiringInNovember2017Member">Loan Commitment Expiring in November 2017 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringInNovember2017Member" xlink:to="label_LoanCommitmentExpiringInNovember2017Member" xlink:title="label: LoanCommitmentExpiringInNovember2017Member to label_LoanCommitmentExpiringInNovember2017Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringInNovember2017Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LoanCommitmentExpiringInNovember2017Member" xml:lang="en-US" id="label_LoanCommitmentExpiringInNovember2017Member_2">Loan commitment expiring in November 2017</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringInNovember2017Member" xlink:to="label_LoanCommitmentExpiringInNovember2017Member_2" xlink:title="label: LoanCommitmentExpiringInNovember2017Member to label_LoanCommitmentExpiringInNovember2017Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringInNovember2017Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LoanCommitmentExpiringInNovember2017Member" xml:lang="en-US" id="label_LoanCommitmentExpiringInNovember2017Member_3">Represents information pertaining to the loan commitment expiring in November 2017.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringInNovember2017Member" xlink:to="label_LoanCommitmentExpiringInNovember2017Member_3" xlink:title="label: LoanCommitmentExpiringInNovember2017Member to label_LoanCommitmentExpiringInNovember2017Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LoanCommitmentsMaturitiesRangingFrom2013To2014Member" xlink:label="LoanCommitmentsMaturitiesRangingFrom2013To2014Member" xlink:title="LoanCommitmentsMaturitiesRangingFrom2013To2014Member" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsMaturitiesRangingFrom2013To2014Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LoanCommitmentsMaturitiesRangingFrom2013To2014Member" xml:lang="en-US" id="label_LoanCommitmentsMaturitiesRangingFrom2013To2014Member">Loan Commitments Maturities Ranging from 2013 to 2014 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsMaturitiesRangingFrom2013To2014Member" xlink:to="label_LoanCommitmentsMaturitiesRangingFrom2013To2014Member" xlink:title="label: LoanCommitmentsMaturitiesRangingFrom2013To2014Member to label_LoanCommitmentsMaturitiesRangingFrom2013To2014Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsMaturitiesRangingFrom2013To2014Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LoanCommitmentsMaturitiesRangingFrom2013To2014Member" xml:lang="en-US" id="label_LoanCommitmentsMaturitiesRangingFrom2013To2014Member_2">Loan commitments, maturities ranging from 2013 to 2014</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsMaturitiesRangingFrom2013To2014Member" xlink:to="label_LoanCommitmentsMaturitiesRangingFrom2013To2014Member_2" xlink:title="label: LoanCommitmentsMaturitiesRangingFrom2013To2014Member to label_LoanCommitmentsMaturitiesRangingFrom2013To2014Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsMaturitiesRangingFrom2013To2014Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LoanCommitmentsMaturitiesRangingFrom2013To2014Member" xml:lang="en-US" id="label_LoanCommitmentsMaturitiesRangingFrom2013To2014Member_3">Represents information pertaining to the loan commitments whose maturities ranging from 2013 to 2014.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsMaturitiesRangingFrom2013To2014Member" xlink:to="label_LoanCommitmentsMaturitiesRangingFrom2013To2014Member_3" xlink:title="label: LoanCommitmentsMaturitiesRangingFrom2013To2014Member to label_LoanCommitmentsMaturitiesRangingFrom2013To2014Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LoanCommitmentsMaturitiesRangingFrom2013To2017Member" xlink:label="LoanCommitmentsMaturitiesRangingFrom2013To2017Member" xlink:title="LoanCommitmentsMaturitiesRangingFrom2013To2017Member" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsMaturitiesRangingFrom2013To2017Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LoanCommitmentsMaturitiesRangingFrom2013To2017Member" xml:lang="en-US" id="label_LoanCommitmentsMaturitiesRangingFrom2013To2017Member">Loan Commitments Maturities Ranging from 2013 to 2017 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsMaturitiesRangingFrom2013To2017Member" xlink:to="label_LoanCommitmentsMaturitiesRangingFrom2013To2017Member" xlink:title="label: LoanCommitmentsMaturitiesRangingFrom2013To2017Member to label_LoanCommitmentsMaturitiesRangingFrom2013To2017Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsMaturitiesRangingFrom2013To2017Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LoanCommitmentsMaturitiesRangingFrom2013To2017Member" xml:lang="en-US" id="label_LoanCommitmentsMaturitiesRangingFrom2013To2017Member_2">Loan commitments, maturities ranging from 2013 to 2017</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsMaturitiesRangingFrom2013To2017Member" xlink:to="label_LoanCommitmentsMaturitiesRangingFrom2013To2017Member_2" xlink:title="label: LoanCommitmentsMaturitiesRangingFrom2013To2017Member to label_LoanCommitmentsMaturitiesRangingFrom2013To2017Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsMaturitiesRangingFrom2013To2017Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LoanCommitmentsMaturitiesRangingFrom2013To2017Member" xml:lang="en-US" id="label_LoanCommitmentsMaturitiesRangingFrom2013To2017Member_3">Represents information pertaining to the loan commitments whose maturities ranging from 2013 to 2017.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsMaturitiesRangingFrom2013To2017Member" xlink:to="label_LoanCommitmentsMaturitiesRangingFrom2013To2017Member_3" xlink:title="label: LoanCommitmentsMaturitiesRangingFrom2013To2017Member to label_LoanCommitmentsMaturitiesRangingFrom2013To2017Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis" xlink:label="CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis" xlink:title="CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis" xml:lang="en-US" id="label_CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis">Capital Improvement Commitments Estimated Yield Description of Variable Rate Basis</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis" xlink:to="label_CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis" xlink:title="label: CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis to label_CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis" xml:lang="en-US" id="label_CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis_2">Variable rate basis used to compute estimated yield</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis" xlink:to="label_CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis_2" xlink:title="label: CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis to label_CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis" xml:lang="en-US" id="label_CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis_3">Description of the reference rate used to compute the estimated yield on capital improvement commitments of the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis" xlink:to="label_CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis_3" xlink:title="label: CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis to label_CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_TreasuryNotesMaturityPeriod" xlink:label="TreasuryNotesMaturityPeriod" xlink:title="TreasuryNotesMaturityPeriod" />
    <link:label xlink:type="resource" xlink:label="label_TreasuryNotesMaturityPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TreasuryNotesMaturityPeriod" xml:lang="en-US" id="label_TreasuryNotesMaturityPeriod">Treasury Notes Maturity Period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TreasuryNotesMaturityPeriod" xlink:to="label_TreasuryNotesMaturityPeriod" xlink:title="label: TreasuryNotesMaturityPeriod to label_TreasuryNotesMaturityPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_TreasuryNotesMaturityPeriod_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TreasuryNotesMaturityPeriod" xml:lang="en-US" id="label_TreasuryNotesMaturityPeriod_2">Maturity period of treasury notes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TreasuryNotesMaturityPeriod" xlink:to="label_TreasuryNotesMaturityPeriod_2" xlink:title="label: TreasuryNotesMaturityPeriod to label_TreasuryNotesMaturityPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_TreasuryNotesMaturityPeriod_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TreasuryNotesMaturityPeriod" xml:lang="en-US" id="label_TreasuryNotesMaturityPeriod_3">Represents the maturity period of treasury notes.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TreasuryNotesMaturityPeriod" xlink:to="label_TreasuryNotesMaturityPeriod_3" xlink:title="label: TreasuryNotesMaturityPeriod to label_TreasuryNotesMaturityPeriod" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitments" xlink:label="CapitalImprovementCommitments" xlink:title="CapitalImprovementCommitments" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitments" xml:lang="en-US" id="label_CapitalImprovementCommitments">Capital Improvement Commitments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitments" xlink:to="label_CapitalImprovementCommitments" xlink:title="label: CapitalImprovementCommitments to label_CapitalImprovementCommitments" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitments_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitments" xml:lang="en-US" id="label_CapitalImprovementCommitments_2">Annual commitment through December 2014</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitments" xlink:to="label_CapitalImprovementCommitments_2" xlink:title="label: CapitalImprovementCommitments to label_CapitalImprovementCommitments" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitments_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitments" xml:lang="en-US" id="label_CapitalImprovementCommitments_3">Represents the amount of capital improvement commitment of the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitments" xlink:to="label_CapitalImprovementCommitments_3" xlink:title="label: CapitalImprovementCommitments to label_CapitalImprovementCommitments" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MinimumRentCalculationMultiplier" xlink:label="MinimumRentCalculationMultiplier" xlink:title="MinimumRentCalculationMultiplier" />
    <link:label xlink:type="resource" xlink:label="label_MinimumRentCalculationMultiplier" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MinimumRentCalculationMultiplier" xml:lang="en-US" id="label_MinimumRentCalculationMultiplier">Minimum Rent Calculation Multiplier</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinimumRentCalculationMultiplier" xlink:to="label_MinimumRentCalculationMultiplier" xlink:title="label: MinimumRentCalculationMultiplier to label_MinimumRentCalculationMultiplier" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MinimumRentCalculationMultiplier_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MinimumRentCalculationMultiplier" xml:lang="en-US" id="label_MinimumRentCalculationMultiplier_2">Minimum rent calculation multiplier (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinimumRentCalculationMultiplier" xlink:to="label_MinimumRentCalculationMultiplier_2" xlink:title="label: MinimumRentCalculationMultiplier to label_MinimumRentCalculationMultiplier" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MinimumRentCalculationMultiplier_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MinimumRentCalculationMultiplier" xml:lang="en-US" id="label_MinimumRentCalculationMultiplier_3">Represents the percentage of calculating minimum rent based on the total of the purchase price of the land, the total funded under the commitment and the compound interest during the construction period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinimumRentCalculationMultiplier" xlink:to="label_MinimumRentCalculationMultiplier_3" xlink:title="label: MinimumRentCalculationMultiplier to label_MinimumRentCalculationMultiplier" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentsEstimatedYieldBasisSpreadOnVariableRate" xlink:label="CapitalImprovementCommitmentsEstimatedYieldBasisSpreadOnVariableRate" xlink:title="CapitalImprovementCommitmentsEstimatedYieldBasisSpreadOnVariableRate" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsEstimatedYieldBasisSpreadOnVariableRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentsEstimatedYieldBasisSpreadOnVariableRate" xml:lang="en-US" id="label_CapitalImprovementCommitmentsEstimatedYieldBasisSpreadOnVariableRate">Capital Improvement Commitments Estimated Yield Basis Spread on Variable Rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsEstimatedYieldBasisSpreadOnVariableRate" xlink:to="label_CapitalImprovementCommitmentsEstimatedYieldBasisSpreadOnVariableRate" xlink:title="label: CapitalImprovementCommitmentsEstimatedYieldBasisSpreadOnVariableRate to label_CapitalImprovementCommitmentsEstimatedYieldBasisSpreadOnVariableRate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsEstimatedYieldBasisSpreadOnVariableRate_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentsEstimatedYieldBasisSpreadOnVariableRate" xml:lang="en-US" id="label_CapitalImprovementCommitmentsEstimatedYieldBasisSpreadOnVariableRate_2">Basis spread on variable rate used to compute estimated yield</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsEstimatedYieldBasisSpreadOnVariableRate" xlink:to="label_CapitalImprovementCommitmentsEstimatedYieldBasisSpreadOnVariableRate_2" xlink:title="label: CapitalImprovementCommitmentsEstimatedYieldBasisSpreadOnVariableRate to label_CapitalImprovementCommitmentsEstimatedYieldBasisSpreadOnVariableRate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsEstimatedYieldBasisSpreadOnVariableRate_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentsEstimatedYieldBasisSpreadOnVariableRate" xml:lang="en-US" id="label_CapitalImprovementCommitmentsEstimatedYieldBasisSpreadOnVariableRate_3">The percentage points added to the reference rate to compute the estimated yield on capital improvement commitments of the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsEstimatedYieldBasisSpreadOnVariableRate" xlink:to="label_CapitalImprovementCommitmentsEstimatedYieldBasisSpreadOnVariableRate_3" xlink:title="label: CapitalImprovementCommitmentsEstimatedYieldBasisSpreadOnVariableRate to label_CapitalImprovementCommitmentsEstimatedYieldBasisSpreadOnVariableRate" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentsAllocationNumberOfTranches" xlink:label="CapitalImprovementCommitmentsAllocationNumberOfTranches" xlink:title="CapitalImprovementCommitmentsAllocationNumberOfTranches" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsAllocationNumberOfTranches" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentsAllocationNumberOfTranches" xml:lang="en-US" id="label_CapitalImprovementCommitmentsAllocationNumberOfTranches">Capital Improvement Commitments, Allocation, Number of Tranches</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsAllocationNumberOfTranches" xlink:to="label_CapitalImprovementCommitmentsAllocationNumberOfTranches" xlink:title="label: CapitalImprovementCommitmentsAllocationNumberOfTranches to label_CapitalImprovementCommitmentsAllocationNumberOfTranches" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsAllocationNumberOfTranches_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentsAllocationNumberOfTranches" xml:lang="en-US" id="label_CapitalImprovementCommitmentsAllocationNumberOfTranches_2">Number of tranches</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsAllocationNumberOfTranches" xlink:to="label_CapitalImprovementCommitmentsAllocationNumberOfTranches_2" xlink:title="label: CapitalImprovementCommitmentsAllocationNumberOfTranches to label_CapitalImprovementCommitmentsAllocationNumberOfTranches" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsAllocationNumberOfTranches_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentsAllocationNumberOfTranches" xml:lang="en-US" id="label_CapitalImprovementCommitmentsAllocationNumberOfTranches_3">Represents the number of tranches into which the commitment is allocated.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsAllocationNumberOfTranches" xlink:to="label_CapitalImprovementCommitmentsAllocationNumberOfTranches_3" xlink:title="label: CapitalImprovementCommitmentsAllocationNumberOfTranches to label_CapitalImprovementCommitmentsAllocationNumberOfTranches" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentsAmountInvested" xlink:label="CapitalImprovementCommitmentsAmountInvested" xlink:title="CapitalImprovementCommitmentsAmountInvested" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsAmountInvested" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentsAmountInvested" xml:lang="en-US" id="label_CapitalImprovementCommitmentsAmountInvested">Capital Improvement Commitments Amount Invested</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsAmountInvested" xlink:to="label_CapitalImprovementCommitmentsAmountInvested" xlink:title="label: CapitalImprovementCommitmentsAmountInvested to label_CapitalImprovementCommitmentsAmountInvested" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsAmountInvested_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentsAmountInvested" xml:lang="en-US" id="label_CapitalImprovementCommitmentsAmountInvested_2">Funded capital improvement commitments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsAmountInvested" xlink:to="label_CapitalImprovementCommitmentsAmountInvested_2" xlink:title="label: CapitalImprovementCommitmentsAmountInvested to label_CapitalImprovementCommitmentsAmountInvested" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsAmountInvested_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentsAmountInvested" xml:lang="en-US" id="label_CapitalImprovementCommitmentsAmountInvested_3">Represents the amount invested into various capital improvement commitments by the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsAmountInvested" xlink:to="label_CapitalImprovementCommitmentsAmountInvested_3" xlink:title="label: CapitalImprovementCommitmentsAmountInvested to label_CapitalImprovementCommitmentsAmountInvested" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsAmountInvested_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_CapitalImprovementCommitmentsAmountInvested" xml:lang="en-US" id="label_CapitalImprovementCommitmentsAmountInvested_4">Used Commitment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsAmountInvested" xlink:to="label_CapitalImprovementCommitmentsAmountInvested_4" xlink:title="label: CapitalImprovementCommitmentsAmountInvested to label_CapitalImprovementCommitmentsAmountInvested" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentsBasisSpreadOnVariableRateBasis" xlink:label="CapitalImprovementCommitmentsBasisSpreadOnVariableRateBasis" xlink:title="CapitalImprovementCommitmentsBasisSpreadOnVariableRateBasis" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsBasisSpreadOnVariableRateBasis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentsBasisSpreadOnVariableRateBasis" xml:lang="en-US" id="label_CapitalImprovementCommitmentsBasisSpreadOnVariableRateBasis">Represents the percentage points added or deducted from the reference rate to compute the estimated yield.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsBasisSpreadOnVariableRateBasis" xlink:to="label_CapitalImprovementCommitmentsBasisSpreadOnVariableRateBasis" xlink:title="label: CapitalImprovementCommitmentsBasisSpreadOnVariableRateBasis to label_CapitalImprovementCommitmentsBasisSpreadOnVariableRateBasis" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsBasisSpreadOnVariableRateBasis_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentsBasisSpreadOnVariableRateBasis" xml:lang="en-US" id="label_CapitalImprovementCommitmentsBasisSpreadOnVariableRateBasis_2">Basis points added/deducted from the base rate (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsBasisSpreadOnVariableRateBasis" xlink:to="label_CapitalImprovementCommitmentsBasisSpreadOnVariableRateBasis_2" xlink:title="label: CapitalImprovementCommitmentsBasisSpreadOnVariableRateBasis to label_CapitalImprovementCommitmentsBasisSpreadOnVariableRateBasis" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsBasisSpreadOnVariableRateBasis_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentsBasisSpreadOnVariableRateBasis" xml:lang="en-US" id="label_CapitalImprovementCommitmentsBasisSpreadOnVariableRateBasis_3">Capital Improvement Commitments, Basis Spread on Variable Rate Basis</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsBasisSpreadOnVariableRateBasis" xlink:to="label_CapitalImprovementCommitmentsBasisSpreadOnVariableRateBasis_3" xlink:title="label: CapitalImprovementCommitmentsBasisSpreadOnVariableRateBasis to label_CapitalImprovementCommitmentsBasisSpreadOnVariableRateBasis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentsDescriptionOfVariableRateBasis" xlink:label="CapitalImprovementCommitmentsDescriptionOfVariableRateBasis" xlink:title="CapitalImprovementCommitmentsDescriptionOfVariableRateBasis" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsDescriptionOfVariableRateBasis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentsDescriptionOfVariableRateBasis" xml:lang="en-US" id="label_CapitalImprovementCommitmentsDescriptionOfVariableRateBasis">Description of estimated yield</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsDescriptionOfVariableRateBasis" xlink:to="label_CapitalImprovementCommitmentsDescriptionOfVariableRateBasis" xlink:title="label: CapitalImprovementCommitmentsDescriptionOfVariableRateBasis to label_CapitalImprovementCommitmentsDescriptionOfVariableRateBasis" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsDescriptionOfVariableRateBasis_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentsDescriptionOfVariableRateBasis" xml:lang="en-US" id="label_CapitalImprovementCommitmentsDescriptionOfVariableRateBasis_2">The reference rate for the variable rate of yield such as LIBOR or US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsDescriptionOfVariableRateBasis" xlink:to="label_CapitalImprovementCommitmentsDescriptionOfVariableRateBasis_2" xlink:title="label: CapitalImprovementCommitmentsDescriptionOfVariableRateBasis to label_CapitalImprovementCommitmentsDescriptionOfVariableRateBasis" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsDescriptionOfVariableRateBasis_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentsDescriptionOfVariableRateBasis" xml:lang="en-US" id="label_CapitalImprovementCommitmentsDescriptionOfVariableRateBasis_3">Capital Improvement Commitments, Description of Variable Rate Basis</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsDescriptionOfVariableRateBasis" xlink:to="label_CapitalImprovementCommitmentsDescriptionOfVariableRateBasis_3" xlink:title="label: CapitalImprovementCommitmentsDescriptionOfVariableRateBasis to label_CapitalImprovementCommitmentsDescriptionOfVariableRateBasis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentsEffectiveLeaseRate" xlink:label="CapitalImprovementCommitmentsEffectiveLeaseRate" xlink:title="CapitalImprovementCommitmentsEffectiveLeaseRate" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsEffectiveLeaseRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentsEffectiveLeaseRate" xml:lang="en-US" id="label_CapitalImprovementCommitmentsEffectiveLeaseRate">Lease rate in effect (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsEffectiveLeaseRate" xlink:to="label_CapitalImprovementCommitmentsEffectiveLeaseRate" xlink:title="label: CapitalImprovementCommitmentsEffectiveLeaseRate to label_CapitalImprovementCommitmentsEffectiveLeaseRate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsEffectiveLeaseRate_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentsEffectiveLeaseRate" xml:lang="en-US" id="label_CapitalImprovementCommitmentsEffectiveLeaseRate_2">Represents the effective rate of lease for capital improvement commitments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsEffectiveLeaseRate" xlink:to="label_CapitalImprovementCommitmentsEffectiveLeaseRate_2" xlink:title="label: CapitalImprovementCommitmentsEffectiveLeaseRate to label_CapitalImprovementCommitmentsEffectiveLeaseRate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsEffectiveLeaseRate_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentsEffectiveLeaseRate" xml:lang="en-US" id="label_CapitalImprovementCommitmentsEffectiveLeaseRate_3">Capital Improvement Commitments, Effective Lease Rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsEffectiveLeaseRate" xlink:to="label_CapitalImprovementCommitmentsEffectiveLeaseRate_3" xlink:title="label: CapitalImprovementCommitmentsEffectiveLeaseRate to label_CapitalImprovementCommitmentsEffectiveLeaseRate" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentsEstimatedYield" xlink:label="CapitalImprovementCommitmentsEstimatedYield" xlink:title="CapitalImprovementCommitmentsEstimatedYield" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsEstimatedYield" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentsEstimatedYield" xml:lang="en-US" id="label_CapitalImprovementCommitmentsEstimatedYield">Capital Improvement Commitments Estimated Yield</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsEstimatedYield" xlink:to="label_CapitalImprovementCommitmentsEstimatedYield" xlink:title="label: CapitalImprovementCommitmentsEstimatedYield to label_CapitalImprovementCommitmentsEstimatedYield" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsEstimatedYield_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentsEstimatedYield" xml:lang="en-US" id="label_CapitalImprovementCommitmentsEstimatedYield_2">Initial Cash Yield (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsEstimatedYield" xlink:to="label_CapitalImprovementCommitmentsEstimatedYield_2" xlink:title="label: CapitalImprovementCommitmentsEstimatedYield to label_CapitalImprovementCommitmentsEstimatedYield" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsEstimatedYield_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentsEstimatedYield" xml:lang="en-US" id="label_CapitalImprovementCommitmentsEstimatedYield_3">Represents the rate of estimated yield on capital improvement commitments of the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsEstimatedYield" xlink:to="label_CapitalImprovementCommitmentsEstimatedYield_3" xlink:title="label: CapitalImprovementCommitmentsEstimatedYield to label_CapitalImprovementCommitmentsEstimatedYield" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentsInterestCompoundPercentage" xlink:label="CapitalImprovementCommitmentsInterestCompoundPercentage" xlink:title="CapitalImprovementCommitmentsInterestCompoundPercentage" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsInterestCompoundPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentsInterestCompoundPercentage" xml:lang="en-US" id="label_CapitalImprovementCommitmentsInterestCompoundPercentage">Capital Improvement Commitments Interest Compound Percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsInterestCompoundPercentage" xlink:to="label_CapitalImprovementCommitmentsInterestCompoundPercentage" xlink:title="label: CapitalImprovementCommitmentsInterestCompoundPercentage to label_CapitalImprovementCommitmentsInterestCompoundPercentage" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsInterestCompoundPercentage_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentsInterestCompoundPercentage" xml:lang="en-US" id="label_CapitalImprovementCommitmentsInterestCompoundPercentage_2">Compound interest (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsInterestCompoundPercentage" xlink:to="label_CapitalImprovementCommitmentsInterestCompoundPercentage_2" xlink:title="label: CapitalImprovementCommitmentsInterestCompoundPercentage to label_CapitalImprovementCommitmentsInterestCompoundPercentage" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsInterestCompoundPercentage_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentsInterestCompoundPercentage" xml:lang="en-US" id="label_CapitalImprovementCommitmentsInterestCompoundPercentage_3">Represents the rate of interest compounded on each advance made from the disbursement date until the final distribution of the commitment or the expiration date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsInterestCompoundPercentage" xlink:to="label_CapitalImprovementCommitmentsInterestCompoundPercentage_3" xlink:title="label: CapitalImprovementCommitmentsInterestCompoundPercentage to label_CapitalImprovementCommitmentsInterestCompoundPercentage" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity" xlink:label="CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity" xlink:title="CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity" xml:lang="en-US" id="label_CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity">Maturity period of US Treasury note</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity" xlink:to="label_CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity" xlink:title="label: CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity to label_CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity" xml:lang="en-US" id="label_CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity_2">Represents the maturity period of security taken as base for computation of estimated yield.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity" xlink:to="label_CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity_2" xlink:title="label: CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity to label_CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity" xml:lang="en-US" id="label_CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity_3">Capital Improvement Commitments, Estimated Yield, Maturity of Base Security</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity" xlink:to="label_CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity_3" xlink:title="label: CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity to label_CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding" xlink:label="CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding" xlink:title="CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding" xml:lang="en-US" id="label_CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding">Capital Improvement Commitments, Estimated Yield, Period before Funding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding" xlink:to="label_CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding" xlink:title="label: CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding to label_CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding" xml:lang="en-US" id="label_CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding_2">Number of days prior to funding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding" xlink:to="label_CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding_2" xlink:title="label: CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding to label_CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding" xml:lang="en-US" id="label_CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding_3">Represents the period prior to funding taken as base for computation of estimated yield.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding" xlink:to="label_CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding_3" xlink:title="label: CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding to label_CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentsOpen" xlink:label="CapitalImprovementCommitmentsOpen" xlink:title="CapitalImprovementCommitmentsOpen" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsOpen" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentsOpen" xml:lang="en-US" id="label_CapitalImprovementCommitmentsOpen">Capital Improvement Commitments Open</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsOpen" xlink:to="label_CapitalImprovementCommitmentsOpen" xlink:title="label: CapitalImprovementCommitmentsOpen to label_CapitalImprovementCommitmentsOpen" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsOpen_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentsOpen" xml:lang="en-US" id="label_CapitalImprovementCommitmentsOpen_2">Open Commitment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsOpen" xlink:to="label_CapitalImprovementCommitmentsOpen_2" xlink:title="label: CapitalImprovementCommitmentsOpen to label_CapitalImprovementCommitmentsOpen" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsOpen_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentsOpen" xml:lang="en-US" id="label_CapitalImprovementCommitmentsOpen_3">Represents the amount of open capital improvement commitments of the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsOpen" xlink:to="label_CapitalImprovementCommitmentsOpen_3" xlink:title="label: CapitalImprovementCommitmentsOpen to label_CapitalImprovementCommitmentsOpen" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsOpen_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_CapitalImprovementCommitmentsOpen" xml:lang="en-US" id="label_CapitalImprovementCommitmentsOpen_4">Commitment outstanding in progress</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsOpen" xlink:to="label_CapitalImprovementCommitmentsOpen_4" xlink:title="label: CapitalImprovementCommitmentsOpen to label_CapitalImprovementCommitmentsOpen" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentsReferenceRateForDerivingEstimatedYield" xlink:label="CapitalImprovementCommitmentsReferenceRateForDerivingEstimatedYield" xlink:title="CapitalImprovementCommitmentsReferenceRateForDerivingEstimatedYield" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsReferenceRateForDerivingEstimatedYield" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentsReferenceRateForDerivingEstimatedYield" xml:lang="en-US" id="label_CapitalImprovementCommitmentsReferenceRateForDerivingEstimatedYield">Represents the reference rate used for computing estimated yield.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsReferenceRateForDerivingEstimatedYield" xlink:to="label_CapitalImprovementCommitmentsReferenceRateForDerivingEstimatedYield" xlink:title="label: CapitalImprovementCommitmentsReferenceRateForDerivingEstimatedYield to label_CapitalImprovementCommitmentsReferenceRateForDerivingEstimatedYield" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsReferenceRateForDerivingEstimatedYield_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentsReferenceRateForDerivingEstimatedYield" xml:lang="en-US" id="label_CapitalImprovementCommitmentsReferenceRateForDerivingEstimatedYield_2">Capital Improvement Commitments, Reference Rate for Deriving, Estimated Yield</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsReferenceRateForDerivingEstimatedYield" xlink:to="label_CapitalImprovementCommitmentsReferenceRateForDerivingEstimatedYield_2" xlink:title="label: CapitalImprovementCommitmentsReferenceRateForDerivingEstimatedYield to label_CapitalImprovementCommitmentsReferenceRateForDerivingEstimatedYield" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsReferenceRateForDerivingEstimatedYield_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentsReferenceRateForDerivingEstimatedYield" xml:lang="en-US" id="label_CapitalImprovementCommitmentsReferenceRateForDerivingEstimatedYield_3">Estimated yield (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsReferenceRateForDerivingEstimatedYield" xlink:to="label_CapitalImprovementCommitmentsReferenceRateForDerivingEstimatedYield_3" xlink:title="label: CapitalImprovementCommitmentsReferenceRateForDerivingEstimatedYield to label_CapitalImprovementCommitmentsReferenceRateForDerivingEstimatedYield" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CashAndCashEquivalentsMaturityPeriodMaximum" xlink:label="CashAndCashEquivalentsMaturityPeriodMaximum" xlink:title="CashAndCashEquivalentsMaturityPeriodMaximum" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsMaturityPeriodMaximum" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashAndCashEquivalentsMaturityPeriodMaximum" xml:lang="en-US" id="label_CashAndCashEquivalentsMaturityPeriodMaximum">Maximum maturity of cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsMaturityPeriodMaximum" xlink:to="label_CashAndCashEquivalentsMaturityPeriodMaximum" xlink:title="label: CashAndCashEquivalentsMaturityPeriodMaximum to label_CashAndCashEquivalentsMaturityPeriodMaximum" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsMaturityPeriodMaximum_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashAndCashEquivalentsMaturityPeriodMaximum" xml:lang="en-US" id="label_CashAndCashEquivalentsMaturityPeriodMaximum_2">Cash and Cash Equivalents Maturity Period Maximum</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsMaturityPeriodMaximum" xlink:to="label_CashAndCashEquivalentsMaturityPeriodMaximum_2" xlink:title="label: CashAndCashEquivalentsMaturityPeriodMaximum to label_CashAndCashEquivalentsMaturityPeriodMaximum" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsMaturityPeriodMaximum_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CashAndCashEquivalentsMaturityPeriodMaximum" xml:lang="en-US" id="label_CashAndCashEquivalentsMaturityPeriodMaximum_3">Represents the maximum maturity period of cash and cash equivalents.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsMaturityPeriodMaximum" xlink:to="label_CashAndCashEquivalentsMaturityPeriodMaximum_3" xlink:title="label: CashAndCashEquivalentsMaturityPeriodMaximum to label_CashAndCashEquivalentsMaturityPeriodMaximum" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CommonStockAbstract" xlink:label="CommonStockAbstract" xlink:title="CommonStockAbstract" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockAbstract" xml:lang="en-US" id="label_CommonStockAbstract">Common Stock [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockAbstract" xlink:to="label_CommonStockAbstract" xlink:title="label: CommonStockAbstract to label_CommonStockAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockAbstract" xml:lang="en-US" id="label_CommonStockAbstract_2">Common Stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockAbstract" xlink:to="label_CommonStockAbstract_2" xlink:title="label: CommonStockAbstract to label_CommonStockAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CommonStockDividendsPerShareCashPaidLongTermCapitalGain" xlink:label="CommonStockDividendsPerShareCashPaidLongTermCapitalGain" xlink:title="CommonStockDividendsPerShareCashPaidLongTermCapitalGain" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsPerShareCashPaidLongTermCapitalGain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockDividendsPerShareCashPaidLongTermCapitalGain" xml:lang="en-US" id="label_CommonStockDividendsPerShareCashPaidLongTermCapitalGain">Common Stock, Dividends Per Share, Cash Paid, Long Term Capital Gain</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareCashPaidLongTermCapitalGain" xlink:to="label_CommonStockDividendsPerShareCashPaidLongTermCapitalGain" xlink:title="label: CommonStockDividendsPerShareCashPaidLongTermCapitalGain to label_CommonStockDividendsPerShareCashPaidLongTermCapitalGain" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsPerShareCashPaidLongTermCapitalGain_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockDividendsPerShareCashPaidLongTermCapitalGain" xml:lang="en-US" id="label_CommonStockDividendsPerShareCashPaidLongTermCapitalGain_2">Long term capital gain</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareCashPaidLongTermCapitalGain" xlink:to="label_CommonStockDividendsPerShareCashPaidLongTermCapitalGain_2" xlink:title="label: CommonStockDividendsPerShareCashPaidLongTermCapitalGain to label_CommonStockDividendsPerShareCashPaidLongTermCapitalGain" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsPerShareCashPaidLongTermCapitalGain_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CommonStockDividendsPerShareCashPaidLongTermCapitalGain" xml:lang="en-US" id="label_CommonStockDividendsPerShareCashPaidLongTermCapitalGain_3">Represents the aggregate dividends paid during the period for each share of common stock outstanding treated as long term capital gain for federal tax.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareCashPaidLongTermCapitalGain" xlink:to="label_CommonStockDividendsPerShareCashPaidLongTermCapitalGain_3" xlink:title="label: CommonStockDividendsPerShareCashPaidLongTermCapitalGain to label_CommonStockDividendsPerShareCashPaidLongTermCapitalGain" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CommonStockDividendsPerShareCashPaidOrdinaryTaxableDistribution" xlink:label="CommonStockDividendsPerShareCashPaidOrdinaryTaxableDistribution" xlink:title="CommonStockDividendsPerShareCashPaidOrdinaryTaxableDistribution" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsPerShareCashPaidOrdinaryTaxableDistribution" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockDividendsPerShareCashPaidOrdinaryTaxableDistribution" xml:lang="en-US" id="label_CommonStockDividendsPerShareCashPaidOrdinaryTaxableDistribution">Common Stock, Dividends Per Share, Cash Paid, Ordinary Taxable Distribution</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareCashPaidOrdinaryTaxableDistribution" xlink:to="label_CommonStockDividendsPerShareCashPaidOrdinaryTaxableDistribution" xlink:title="label: CommonStockDividendsPerShareCashPaidOrdinaryTaxableDistribution to label_CommonStockDividendsPerShareCashPaidOrdinaryTaxableDistribution" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsPerShareCashPaidOrdinaryTaxableDistribution_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockDividendsPerShareCashPaidOrdinaryTaxableDistribution" xml:lang="en-US" id="label_CommonStockDividendsPerShareCashPaidOrdinaryTaxableDistribution_2">Ordinary taxable distribution</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareCashPaidOrdinaryTaxableDistribution" xlink:to="label_CommonStockDividendsPerShareCashPaidOrdinaryTaxableDistribution_2" xlink:title="label: CommonStockDividendsPerShareCashPaidOrdinaryTaxableDistribution to label_CommonStockDividendsPerShareCashPaidOrdinaryTaxableDistribution" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsPerShareCashPaidOrdinaryTaxableDistribution_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CommonStockDividendsPerShareCashPaidOrdinaryTaxableDistribution" xml:lang="en-US" id="label_CommonStockDividendsPerShareCashPaidOrdinaryTaxableDistribution_3">Represents the aggregate dividends paid during the period for each share of common stock outstanding treated as ordinary taxable distribution for federal tax purposes.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareCashPaidOrdinaryTaxableDistribution" xlink:to="label_CommonStockDividendsPerShareCashPaidOrdinaryTaxableDistribution_3" xlink:title="label: CommonStockDividendsPerShareCashPaidOrdinaryTaxableDistribution to label_CommonStockDividendsPerShareCashPaidOrdinaryTaxableDistribution" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CommonStockDividendsPerShareCashPaidPercentageIncreaseDecrease" xlink:label="CommonStockDividendsPerShareCashPaidPercentageIncreaseDecrease" xlink:title="CommonStockDividendsPerShareCashPaidPercentageIncreaseDecrease" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsPerShareCashPaidPercentageIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockDividendsPerShareCashPaidPercentageIncreaseDecrease" xml:lang="en-US" id="label_CommonStockDividendsPerShareCashPaidPercentageIncreaseDecrease">Common Stock, Dividends, Per Share, Cash Paid, Percentage Increase (Decrease)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareCashPaidPercentageIncreaseDecrease" xlink:to="label_CommonStockDividendsPerShareCashPaidPercentageIncreaseDecrease" xlink:title="label: CommonStockDividendsPerShareCashPaidPercentageIncreaseDecrease to label_CommonStockDividendsPerShareCashPaidPercentageIncreaseDecrease" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsPerShareCashPaidPercentageIncreaseDecrease_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockDividendsPerShareCashPaidPercentageIncreaseDecrease" xml:lang="en-US" id="label_CommonStockDividendsPerShareCashPaidPercentageIncreaseDecrease_2">Increase in dividend declared per share (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareCashPaidPercentageIncreaseDecrease" xlink:to="label_CommonStockDividendsPerShareCashPaidPercentageIncreaseDecrease_2" xlink:title="label: CommonStockDividendsPerShareCashPaidPercentageIncreaseDecrease to label_CommonStockDividendsPerShareCashPaidPercentageIncreaseDecrease" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsPerShareCashPaidPercentageIncreaseDecrease_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CommonStockDividendsPerShareCashPaidPercentageIncreaseDecrease" xml:lang="en-US" id="label_CommonStockDividendsPerShareCashPaidPercentageIncreaseDecrease_3">Represents the percentage of increase or decrease in the dividends paid during the period for each share of common stock outstanding per month.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareCashPaidPercentageIncreaseDecrease" xlink:to="label_CommonStockDividendsPerShareCashPaidPercentageIncreaseDecrease_3" xlink:title="label: CommonStockDividendsPerShareCashPaidPercentageIncreaseDecrease to label_CommonStockDividendsPerShareCashPaidPercentageIncreaseDecrease" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CommonStockDividendsPerShareCashPaidReturnOfCapital" xlink:label="CommonStockDividendsPerShareCashPaidReturnOfCapital" xlink:title="CommonStockDividendsPerShareCashPaidReturnOfCapital" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsPerShareCashPaidReturnOfCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockDividendsPerShareCashPaidReturnOfCapital" xml:lang="en-US" id="label_CommonStockDividendsPerShareCashPaidReturnOfCapital">Common Stock, Dividends Per Share, Cash Paid, Return of Capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareCashPaidReturnOfCapital" xlink:to="label_CommonStockDividendsPerShareCashPaidReturnOfCapital" xlink:title="label: CommonStockDividendsPerShareCashPaidReturnOfCapital to label_CommonStockDividendsPerShareCashPaidReturnOfCapital" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsPerShareCashPaidReturnOfCapital_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockDividendsPerShareCashPaidReturnOfCapital" xml:lang="en-US" id="label_CommonStockDividendsPerShareCashPaidReturnOfCapital_2">Return of capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareCashPaidReturnOfCapital" xlink:to="label_CommonStockDividendsPerShareCashPaidReturnOfCapital_2" xlink:title="label: CommonStockDividendsPerShareCashPaidReturnOfCapital to label_CommonStockDividendsPerShareCashPaidReturnOfCapital" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsPerShareCashPaidReturnOfCapital_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CommonStockDividendsPerShareCashPaidReturnOfCapital" xml:lang="en-US" id="label_CommonStockDividendsPerShareCashPaidReturnOfCapital_3">Represents the aggregate dividends paid during the period for each share of common stock outstanding treated as return of capital for federal tax purposes.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareCashPaidReturnOfCapital" xlink:to="label_CommonStockDividendsPerShareCashPaidReturnOfCapital_3" xlink:title="label: CommonStockDividendsPerShareCashPaidReturnOfCapital to label_CommonStockDividendsPerShareCashPaidReturnOfCapital" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CommonStockDividendsPerShareCashPaidUnrecapturedSection1250Gain" xlink:label="CommonStockDividendsPerShareCashPaidUnrecapturedSection1250Gain" xlink:title="CommonStockDividendsPerShareCashPaidUnrecapturedSection1250Gain" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsPerShareCashPaidUnrecapturedSection1250Gain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockDividendsPerShareCashPaidUnrecapturedSection1250Gain" xml:lang="en-US" id="label_CommonStockDividendsPerShareCashPaidUnrecapturedSection1250Gain">Unrecaptured Section 1250 gain</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareCashPaidUnrecapturedSection1250Gain" xlink:to="label_CommonStockDividendsPerShareCashPaidUnrecapturedSection1250Gain" xlink:title="label: CommonStockDividendsPerShareCashPaidUnrecapturedSection1250Gain to label_CommonStockDividendsPerShareCashPaidUnrecapturedSection1250Gain" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsPerShareCashPaidUnrecapturedSection1250Gain_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CommonStockDividendsPerShareCashPaidUnrecapturedSection1250Gain" xml:lang="en-US" id="label_CommonStockDividendsPerShareCashPaidUnrecapturedSection1250Gain_2">Represents the aggregate dividends paid during the period for each share of common stock outstanding treated as Unrecaptured Section 1250 Gain for federal tax purposes.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareCashPaidUnrecapturedSection1250Gain" xlink:to="label_CommonStockDividendsPerShareCashPaidUnrecapturedSection1250Gain_2" xlink:title="label: CommonStockDividendsPerShareCashPaidUnrecapturedSection1250Gain to label_CommonStockDividendsPerShareCashPaidUnrecapturedSection1250Gain" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsPerShareCashPaidUnrecapturedSection1250Gain_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockDividendsPerShareCashPaidUnrecapturedSection1250Gain" xml:lang="en-US" id="label_CommonStockDividendsPerShareCashPaidUnrecapturedSection1250Gain_3">Common Stock, Dividends Per Share, Cash Paid, Unrecaptured Section 1250 Gain</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareCashPaidUnrecapturedSection1250Gain" xlink:to="label_CommonStockDividendsPerShareCashPaidUnrecapturedSection1250Gain_3" xlink:title="label: CommonStockDividendsPerShareCashPaidUnrecapturedSection1250Gain to label_CommonStockDividendsPerShareCashPaidUnrecapturedSection1250Gain" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CommonStockDividendsPerShareDeclaredPercentageIncreaseDecrease" xlink:label="CommonStockDividendsPerShareDeclaredPercentageIncreaseDecrease" xlink:title="CommonStockDividendsPerShareDeclaredPercentageIncreaseDecrease" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsPerShareDeclaredPercentageIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockDividendsPerShareDeclaredPercentageIncreaseDecrease" xml:lang="en-US" id="label_CommonStockDividendsPerShareDeclaredPercentageIncreaseDecrease">Increase in dividend declared per share (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareDeclaredPercentageIncreaseDecrease" xlink:to="label_CommonStockDividendsPerShareDeclaredPercentageIncreaseDecrease" xlink:title="label: CommonStockDividendsPerShareDeclaredPercentageIncreaseDecrease to label_CommonStockDividendsPerShareDeclaredPercentageIncreaseDecrease" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsPerShareDeclaredPercentageIncreaseDecrease_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CommonStockDividendsPerShareDeclaredPercentageIncreaseDecrease" xml:lang="en-US" id="label_CommonStockDividendsPerShareDeclaredPercentageIncreaseDecrease_2">Represents the percentage of increase or decrease in the dividends declared during the period for each share of common stock outstanding per month.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareDeclaredPercentageIncreaseDecrease" xlink:to="label_CommonStockDividendsPerShareDeclaredPercentageIncreaseDecrease_2" xlink:title="label: CommonStockDividendsPerShareDeclaredPercentageIncreaseDecrease to label_CommonStockDividendsPerShareDeclaredPercentageIncreaseDecrease" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsPerShareDeclaredPercentageIncreaseDecrease_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockDividendsPerShareDeclaredPercentageIncreaseDecrease" xml:lang="en-US" id="label_CommonStockDividendsPerShareDeclaredPercentageIncreaseDecrease_3">Common Stock, Dividends, Per Share, Declared, Percentage Increase (Decrease)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareDeclaredPercentageIncreaseDecrease" xlink:to="label_CommonStockDividendsPerShareDeclaredPercentageIncreaseDecrease_3" xlink:title="label: CommonStockDividendsPerShareDeclaredPercentageIncreaseDecrease to label_CommonStockDividendsPerShareDeclaredPercentageIncreaseDecrease" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CommonStockIssuanceCosts" xlink:label="CommonStockIssuanceCosts" xlink:title="CommonStockIssuanceCosts" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockIssuanceCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockIssuanceCosts" xml:lang="en-US" id="label_CommonStockIssuanceCosts">Common Stock Issuance Costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockIssuanceCosts" xlink:to="label_CommonStockIssuanceCosts" xlink:title="label: CommonStockIssuanceCosts to label_CommonStockIssuanceCosts" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockIssuanceCosts_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockIssuanceCosts" xml:lang="en-US" id="label_CommonStockIssuanceCosts_2">Fees and costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockIssuanceCosts" xlink:to="label_CommonStockIssuanceCosts_2" xlink:title="label: CommonStockIssuanceCosts to label_CommonStockIssuanceCosts" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockIssuanceCosts_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CommonStockIssuanceCosts" xml:lang="en-US" id="label_CommonStockIssuanceCosts_3">Represents costs incurred in relation to the offering and issuance of common stock.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockIssuanceCosts" xlink:to="label_CommonStockIssuanceCosts_3" xlink:title="label: CommonStockIssuanceCosts to label_CommonStockIssuanceCosts" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CommonStockSharesAuthorizedValue" xlink:label="CommonStockSharesAuthorizedValue" xlink:title="CommonStockSharesAuthorizedValue" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesAuthorizedValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockSharesAuthorizedValue" xml:lang="en-US" id="label_CommonStockSharesAuthorizedValue">Maximum aggregate offering price of shares authorized for issuance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesAuthorizedValue" xlink:to="label_CommonStockSharesAuthorizedValue" xlink:title="label: CommonStockSharesAuthorizedValue to label_CommonStockSharesAuthorizedValue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesAuthorizedValue_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockSharesAuthorizedValue" xml:lang="en-US" id="label_CommonStockSharesAuthorizedValue_2">Common Stock, Shares Authorized Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesAuthorizedValue" xlink:to="label_CommonStockSharesAuthorizedValue_2" xlink:title="label: CommonStockSharesAuthorizedValue to label_CommonStockSharesAuthorizedValue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesAuthorizedValue_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CommonStockSharesAuthorizedValue" xml:lang="en-US" id="label_CommonStockSharesAuthorizedValue_3">The maximum aggregate offering price of shares authorized to be issued authorized under an equity distribution agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesAuthorizedValue" xlink:to="label_CommonStockSharesAuthorizedValue_3" xlink:title="label: CommonStockSharesAuthorizedValue to label_CommonStockSharesAuthorizedValue" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ShelfRegistrationStatementAmountAvailable" xlink:label="ShelfRegistrationStatementAmountAvailable" xlink:title="ShelfRegistrationStatementAmountAvailable" />
    <link:label xlink:type="resource" xlink:label="label_ShelfRegistrationStatementAmountAvailable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ShelfRegistrationStatementAmountAvailable" xml:lang="en-US" id="label_ShelfRegistrationStatementAmountAvailable">Represents the amount available under the shelf registration statement in which the entity may issue common stock, preferred stock, warrants, debt, depositary shares or units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShelfRegistrationStatementAmountAvailable" xlink:to="label_ShelfRegistrationStatementAmountAvailable" xlink:title="label: ShelfRegistrationStatementAmountAvailable to label_ShelfRegistrationStatementAmountAvailable" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ShelfRegistrationStatementAmountAvailable_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShelfRegistrationStatementAmountAvailable" xml:lang="en-US" id="label_ShelfRegistrationStatementAmountAvailable_2">Shelf Registration Statement Amount Available</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShelfRegistrationStatementAmountAvailable" xlink:to="label_ShelfRegistrationStatementAmountAvailable_2" xlink:title="label: ShelfRegistrationStatementAmountAvailable to label_ShelfRegistrationStatementAmountAvailable" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ShelfRegistrationStatementAmountAvailable_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShelfRegistrationStatementAmountAvailable" xml:lang="en-US" id="label_ShelfRegistrationStatementAmountAvailable_3">Amount available under effective shelf registration statement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShelfRegistrationStatementAmountAvailable" xlink:to="label_ShelfRegistrationStatementAmountAvailable_3" xlink:title="label: ShelfRegistrationStatementAmountAvailable to label_ShelfRegistrationStatementAmountAvailable" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue" xlink:label="CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue" xlink:title="CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue" xml:lang="en-US" id="label_CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue">Represents the aggregate offering price of shares available for issuance under equity distribution agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue" xlink:to="label_CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue" xlink:title="label: CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue to label_CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue" xml:lang="en-US" id="label_CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue_2">Common Stock Shares Available for Issuance under Equity Distribution Agreement Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue" xlink:to="label_CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue_2" xlink:title="label: CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue to label_CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue" xml:lang="en-US" id="label_CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue_3">Amount available under equity distribution agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue" xlink:to="label_CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue_3" xlink:title="label: CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue to label_CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CommonStockSharesIssuedWeightedAveragePricePerShare" xlink:label="CommonStockSharesIssuedWeightedAveragePricePerShare" xlink:title="CommonStockSharesIssuedWeightedAveragePricePerShare" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesIssuedWeightedAveragePricePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockSharesIssuedWeightedAveragePricePerShare" xml:lang="en-US" id="label_CommonStockSharesIssuedWeightedAveragePricePerShare">Common Stock, Shares, Issued Weighted Average Price Per Share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesIssuedWeightedAveragePricePerShare" xlink:to="label_CommonStockSharesIssuedWeightedAveragePricePerShare" xlink:title="label: CommonStockSharesIssuedWeightedAveragePricePerShare to label_CommonStockSharesIssuedWeightedAveragePricePerShare" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesIssuedWeightedAveragePricePerShare_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockSharesIssuedWeightedAveragePricePerShare" xml:lang="en-US" id="label_CommonStockSharesIssuedWeightedAveragePricePerShare_2">Weighted average price per share of common stock sold (in dollars shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesIssuedWeightedAveragePricePerShare" xlink:to="label_CommonStockSharesIssuedWeightedAveragePricePerShare_2" xlink:title="label: CommonStockSharesIssuedWeightedAveragePricePerShare to label_CommonStockSharesIssuedWeightedAveragePricePerShare" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesIssuedWeightedAveragePricePerShare_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CommonStockSharesIssuedWeightedAveragePricePerShare" xml:lang="en-US" id="label_CommonStockSharesIssuedWeightedAveragePricePerShare_3">Represents the weighted average price per share of common stock issued.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesIssuedWeightedAveragePricePerShare" xlink:to="label_CommonStockSharesIssuedWeightedAveragePricePerShare_3" xlink:title="label: CommonStockSharesIssuedWeightedAveragePricePerShare to label_CommonStockSharesIssuedWeightedAveragePricePerShare" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ConversionOfMortgageLoansToOwnedProperties" xlink:label="ConversionOfMortgageLoansToOwnedProperties" xlink:title="ConversionOfMortgageLoansToOwnedProperties" />
    <link:label xlink:type="resource" xlink:label="label_ConversionOfMortgageLoansToOwnedProperties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConversionOfMortgageLoansToOwnedProperties" xml:lang="en-US" id="label_ConversionOfMortgageLoansToOwnedProperties">Conversion of Mortgage Loans to Owned Properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConversionOfMortgageLoansToOwnedProperties" xlink:to="label_ConversionOfMortgageLoansToOwnedProperties" xlink:title="label: ConversionOfMortgageLoansToOwnedProperties to label_ConversionOfMortgageLoansToOwnedProperties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ConversionOfMortgageLoansToOwnedProperties_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConversionOfMortgageLoansToOwnedProperties" xml:lang="en-US" id="label_ConversionOfMortgageLoansToOwnedProperties_2">Conversion of mortgage loans to owned properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConversionOfMortgageLoansToOwnedProperties" xlink:to="label_ConversionOfMortgageLoansToOwnedProperties_2" xlink:title="label: ConversionOfMortgageLoansToOwnedProperties to label_ConversionOfMortgageLoansToOwnedProperties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ConversionOfMortgageLoansToOwnedProperties_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ConversionOfMortgageLoansToOwnedProperties" xml:lang="en-US" id="label_ConversionOfMortgageLoansToOwnedProperties_3">Represents the value of mortgage loans converted into owned properties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConversionOfMortgageLoansToOwnedProperties" xlink:to="label_ConversionOfMortgageLoansToOwnedProperties_3" xlink:title="label: ConversionOfMortgageLoansToOwnedProperties to label_ConversionOfMortgageLoansToOwnedProperties" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ConvertiblePreferredStockSharesConversionPricePerShare" xlink:label="ConvertiblePreferredStockSharesConversionPricePerShare" xlink:title="ConvertiblePreferredStockSharesConversionPricePerShare" />
    <link:label xlink:type="resource" xlink:label="label_ConvertiblePreferredStockSharesConversionPricePerShare" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ConvertiblePreferredStockSharesConversionPricePerShare" xml:lang="en-US" id="label_ConvertiblePreferredStockSharesConversionPricePerShare">Represents the conversion price per share of common stock issuable on conversion of convertible preferred stock.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConvertiblePreferredStockSharesConversionPricePerShare" xlink:to="label_ConvertiblePreferredStockSharesConversionPricePerShare" xlink:title="label: ConvertiblePreferredStockSharesConversionPricePerShare to label_ConvertiblePreferredStockSharesConversionPricePerShare" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ConvertiblePreferredStockSharesConversionPricePerShare_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConvertiblePreferredStockSharesConversionPricePerShare" xml:lang="en-US" id="label_ConvertiblePreferredStockSharesConversionPricePerShare_2">Conversion price per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConvertiblePreferredStockSharesConversionPricePerShare" xlink:to="label_ConvertiblePreferredStockSharesConversionPricePerShare_2" xlink:title="label: ConvertiblePreferredStockSharesConversionPricePerShare to label_ConvertiblePreferredStockSharesConversionPricePerShare" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ConvertiblePreferredStockSharesConversionPricePerShare_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConvertiblePreferredStockSharesConversionPricePerShare" xml:lang="en-US" id="label_ConvertiblePreferredStockSharesConversionPricePerShare_3">Convertible Preferred Stock, Shares Conversion Price Per Share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConvertiblePreferredStockSharesConversionPricePerShare" xlink:to="label_ConvertiblePreferredStockSharesConversionPricePerShare_3" xlink:title="label: ConvertiblePreferredStockSharesConversionPricePerShare to label_ConvertiblePreferredStockSharesConversionPricePerShare" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ConvertiblePreferredStockSharesIssuableUponConversion" xlink:label="ConvertiblePreferredStockSharesIssuableUponConversion" xlink:title="ConvertiblePreferredStockSharesIssuableUponConversion" />
    <link:label xlink:type="resource" xlink:label="label_ConvertiblePreferredStockSharesIssuableUponConversion" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConvertiblePreferredStockSharesIssuableUponConversion" xml:lang="en-US" id="label_ConvertiblePreferredStockSharesIssuableUponConversion">Convertible Preferred Stock, Shares Issuable upon Conversion</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConvertiblePreferredStockSharesIssuableUponConversion" xlink:to="label_ConvertiblePreferredStockSharesIssuableUponConversion" xlink:title="label: ConvertiblePreferredStockSharesIssuableUponConversion to label_ConvertiblePreferredStockSharesIssuableUponConversion" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ConvertiblePreferredStockSharesIssuableUponConversion_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ConvertiblePreferredStockSharesIssuableUponConversion" xml:lang="en-US" id="label_ConvertiblePreferredStockSharesIssuableUponConversion_2">Number of shares of common stock issuable on conversion of convertible preferred stock.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConvertiblePreferredStockSharesIssuableUponConversion" xlink:to="label_ConvertiblePreferredStockSharesIssuableUponConversion_2" xlink:title="label: ConvertiblePreferredStockSharesIssuableUponConversion to label_ConvertiblePreferredStockSharesIssuableUponConversion" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ConvertiblePreferredStockSharesIssuableUponConversion_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConvertiblePreferredStockSharesIssuableUponConversion" xml:lang="en-US" id="label_ConvertiblePreferredStockSharesIssuableUponConversion_3">Number of shares of common stock and dividends to be issued upon conversion</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConvertiblePreferredStockSharesIssuableUponConversion" xlink:to="label_ConvertiblePreferredStockSharesIssuableUponConversion_3" xlink:title="label: ConvertiblePreferredStockSharesIssuableUponConversion to label_ConvertiblePreferredStockSharesIssuableUponConversion" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CottagesAndPatioHomesMember" xlink:label="CottagesAndPatioHomesMember" xlink:title="CottagesAndPatioHomesMember" />
    <link:label xlink:type="resource" xlink:label="label_CottagesAndPatioHomesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CottagesAndPatioHomesMember" xml:lang="en-US" id="label_CottagesAndPatioHomesMember">Cottages and patio homes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CottagesAndPatioHomesMember" xlink:to="label_CottagesAndPatioHomesMember" xlink:title="label: CottagesAndPatioHomesMember to label_CottagesAndPatioHomesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CottagesAndPatioHomesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CottagesAndPatioHomesMember" xml:lang="en-US" id="label_CottagesAndPatioHomesMember_2">Represents information pertaining to cottage and patio homes.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CottagesAndPatioHomesMember" xlink:to="label_CottagesAndPatioHomesMember_2" xlink:title="label: CottagesAndPatioHomesMember to label_CottagesAndPatioHomesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CottagesAndPatioHomesMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CottagesAndPatioHomesMember" xml:lang="en-US" id="label_CottagesAndPatioHomesMember_3">Cottages and Patio Homes [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CottagesAndPatioHomesMember" xlink:to="label_CottagesAndPatioHomesMember_3" xlink:title="label: CottagesAndPatioHomesMember to label_CottagesAndPatioHomesMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:label="AccumulatedOtherComprehensiveIncomeMember" xlink:title="AccumulatedOtherComprehensiveIncomeMember" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedOtherComprehensiveIncomeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccumulatedOtherComprehensiveIncomeMember" xml:lang="en-US" id="label_AccumulatedOtherComprehensiveIncomeMember">Accumulated Other Comprehensive Income (Loss) [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedOtherComprehensiveIncomeMember" xlink:to="label_AccumulatedOtherComprehensiveIncomeMember" xlink:title="label: AccumulatedOtherComprehensiveIncomeMember to label_AccumulatedOtherComprehensiveIncomeMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedOtherComprehensiveIncomeMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AccumulatedOtherComprehensiveIncomeMember" xml:lang="en-US" id="label_AccumulatedOtherComprehensiveIncomeMember_2">Accumulated OCI</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedOtherComprehensiveIncomeMember" xlink:to="label_AccumulatedOtherComprehensiveIncomeMember_2" xlink:title="label: AccumulatedOtherComprehensiveIncomeMember to label_AccumulatedOtherComprehensiveIncomeMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CumulativeDistribution" xlink:label="CumulativeDistribution" xlink:title="CumulativeDistribution" />
    <link:label xlink:type="resource" xlink:label="label_CumulativeDistribution" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_CumulativeDistribution" xml:lang="en-US" id="label_CumulativeDistribution">Cumulative distributions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CumulativeDistribution" xlink:to="label_CumulativeDistribution" xlink:title="label: CumulativeDistribution to label_CumulativeDistribution" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CumulativeDistribution_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CumulativeDistribution" xml:lang="en-US" id="label_CumulativeDistribution_2">The amount as of the balance sheet date of dividends paid or payable to shareholders since inception.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CumulativeDistribution" xlink:to="label_CumulativeDistribution_2" xlink:title="label: CumulativeDistribution to label_CumulativeDistribution" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CumulativeDistribution_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CumulativeDistribution" xml:lang="en-US" id="label_CumulativeDistribution_3">Cumulative Distribution</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CumulativeDistribution" xlink:to="label_CumulativeDistribution_3" xlink:title="label: CumulativeDistribution to label_CumulativeDistribution" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DebtInstrumentCovenantRatioAggregateIndebtednessToAggregateAssetMaximum" xlink:label="DebtInstrumentCovenantRatioAggregateIndebtednessToAggregateAssetMaximum" xlink:title="DebtInstrumentCovenantRatioAggregateIndebtednessToAggregateAssetMaximum" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentCovenantRatioAggregateIndebtednessToAggregateAssetMaximum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentCovenantRatioAggregateIndebtednessToAggregateAssetMaximum" xml:lang="en-US" id="label_DebtInstrumentCovenantRatioAggregateIndebtednessToAggregateAssetMaximum">Debt Instrument Covenant, Ratio Aggregate Indebtedness to Aggregate Asset Maximum</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentCovenantRatioAggregateIndebtednessToAggregateAssetMaximum" xlink:to="label_DebtInstrumentCovenantRatioAggregateIndebtednessToAggregateAssetMaximum" xlink:title="label: DebtInstrumentCovenantRatioAggregateIndebtednessToAggregateAssetMaximum to label_DebtInstrumentCovenantRatioAggregateIndebtednessToAggregateAssetMaximum" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentCovenantRatioAggregateIndebtednessToAggregateAssetMaximum_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentCovenantRatioAggregateIndebtednessToAggregateAssetMaximum" xml:lang="en-US" id="label_DebtInstrumentCovenantRatioAggregateIndebtednessToAggregateAssetMaximum_2">Maximum ratio of total indebtedness to total asset value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentCovenantRatioAggregateIndebtednessToAggregateAssetMaximum" xlink:to="label_DebtInstrumentCovenantRatioAggregateIndebtednessToAggregateAssetMaximum_2" xlink:title="label: DebtInstrumentCovenantRatioAggregateIndebtednessToAggregateAssetMaximum to label_DebtInstrumentCovenantRatioAggregateIndebtednessToAggregateAssetMaximum" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentCovenantRatioAggregateIndebtednessToAggregateAssetMaximum_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentCovenantRatioAggregateIndebtednessToAggregateAssetMaximum" xml:lang="en-US" id="label_DebtInstrumentCovenantRatioAggregateIndebtednessToAggregateAssetMaximum_3">The maximum ratio of total indebtedness to total assets required to be maintained per terms of the debt instrument covenants.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentCovenantRatioAggregateIndebtednessToAggregateAssetMaximum" xlink:to="label_DebtInstrumentCovenantRatioAggregateIndebtednessToAggregateAssetMaximum_3" xlink:title="label: DebtInstrumentCovenantRatioAggregateIndebtednessToAggregateAssetMaximum to label_DebtInstrumentCovenantRatioAggregateIndebtednessToAggregateAssetMaximum" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DebtInstrumentCovenantRatioSecuredDebtToAggregateAssetMaximum" xlink:label="DebtInstrumentCovenantRatioSecuredDebtToAggregateAssetMaximum" xlink:title="DebtInstrumentCovenantRatioSecuredDebtToAggregateAssetMaximum" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentCovenantRatioSecuredDebtToAggregateAssetMaximum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentCovenantRatioSecuredDebtToAggregateAssetMaximum" xml:lang="en-US" id="label_DebtInstrumentCovenantRatioSecuredDebtToAggregateAssetMaximum">Debt Instrument Covenant, Ratio Secured Debt to Aggregate Asset Maximum</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentCovenantRatioSecuredDebtToAggregateAssetMaximum" xlink:to="label_DebtInstrumentCovenantRatioSecuredDebtToAggregateAssetMaximum" xlink:title="label: DebtInstrumentCovenantRatioSecuredDebtToAggregateAssetMaximum to label_DebtInstrumentCovenantRatioSecuredDebtToAggregateAssetMaximum" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentCovenantRatioSecuredDebtToAggregateAssetMaximum_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentCovenantRatioSecuredDebtToAggregateAssetMaximum" xml:lang="en-US" id="label_DebtInstrumentCovenantRatioSecuredDebtToAggregateAssetMaximum_2">Maximum ratio of secured debt to total asset value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentCovenantRatioSecuredDebtToAggregateAssetMaximum" xlink:to="label_DebtInstrumentCovenantRatioSecuredDebtToAggregateAssetMaximum_2" xlink:title="label: DebtInstrumentCovenantRatioSecuredDebtToAggregateAssetMaximum to label_DebtInstrumentCovenantRatioSecuredDebtToAggregateAssetMaximum" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentCovenantRatioSecuredDebtToAggregateAssetMaximum_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentCovenantRatioSecuredDebtToAggregateAssetMaximum" xml:lang="en-US" id="label_DebtInstrumentCovenantRatioSecuredDebtToAggregateAssetMaximum_3">The maximum ratio of secured debt to total assets required to be maintained per terms of the debt instrument covenants.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentCovenantRatioSecuredDebtToAggregateAssetMaximum" xlink:to="label_DebtInstrumentCovenantRatioSecuredDebtToAggregateAssetMaximum_3" xlink:title="label: DebtInstrumentCovenantRatioSecuredDebtToAggregateAssetMaximum to label_DebtInstrumentCovenantRatioSecuredDebtToAggregateAssetMaximum" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DebtInstrumentCovenantRatioUnsecuredDebtToUnencumberedAssetPoolMaximum" xlink:label="DebtInstrumentCovenantRatioUnsecuredDebtToUnencumberedAssetPoolMaximum" xlink:title="DebtInstrumentCovenantRatioUnsecuredDebtToUnencumberedAssetPoolMaximum" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentCovenantRatioUnsecuredDebtToUnencumberedAssetPoolMaximum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentCovenantRatioUnsecuredDebtToUnencumberedAssetPoolMaximum" xml:lang="en-US" id="label_DebtInstrumentCovenantRatioUnsecuredDebtToUnencumberedAssetPoolMaximum">Debt Instrument Covenant, Ratio Unsecured Debt to Unencumbered Asset Pool Maximum</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentCovenantRatioUnsecuredDebtToUnencumberedAssetPoolMaximum" xlink:to="label_DebtInstrumentCovenantRatioUnsecuredDebtToUnencumberedAssetPoolMaximum" xlink:title="label: DebtInstrumentCovenantRatioUnsecuredDebtToUnencumberedAssetPoolMaximum to label_DebtInstrumentCovenantRatioUnsecuredDebtToUnencumberedAssetPoolMaximum" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentCovenantRatioUnsecuredDebtToUnencumberedAssetPoolMaximum_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentCovenantRatioUnsecuredDebtToUnencumberedAssetPoolMaximum" xml:lang="en-US" id="label_DebtInstrumentCovenantRatioUnsecuredDebtToUnencumberedAssetPoolMaximum_2">Maximum ratio of unsecured debt to the value of the unencumbered asset pool</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentCovenantRatioUnsecuredDebtToUnencumberedAssetPoolMaximum" xlink:to="label_DebtInstrumentCovenantRatioUnsecuredDebtToUnencumberedAssetPoolMaximum_2" xlink:title="label: DebtInstrumentCovenantRatioUnsecuredDebtToUnencumberedAssetPoolMaximum to label_DebtInstrumentCovenantRatioUnsecuredDebtToUnencumberedAssetPoolMaximum" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentCovenantRatioUnsecuredDebtToUnencumberedAssetPoolMaximum_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentCovenantRatioUnsecuredDebtToUnencumberedAssetPoolMaximum" xml:lang="en-US" id="label_DebtInstrumentCovenantRatioUnsecuredDebtToUnencumberedAssetPoolMaximum_3">The maximum ratio of unsecured debt to the unencumbered asset pool required to be maintained as per terms of the debt instrument covenants.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentCovenantRatioUnsecuredDebtToUnencumberedAssetPoolMaximum" xlink:to="label_DebtInstrumentCovenantRatioUnsecuredDebtToUnencumberedAssetPoolMaximum_3" xlink:title="label: DebtInstrumentCovenantRatioUnsecuredDebtToUnencumberedAssetPoolMaximum to label_DebtInstrumentCovenantRatioUnsecuredDebtToUnencumberedAssetPoolMaximum" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DebtInstrumentCovenantRatioEBITDAToFixedChargesMinimum" xlink:label="DebtInstrumentCovenantRatioEBITDAToFixedChargesMinimum" xlink:title="DebtInstrumentCovenantRatioEBITDAToFixedChargesMinimum" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentCovenantRatioEBITDAToFixedChargesMinimum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentCovenantRatioEBITDAToFixedChargesMinimum" xml:lang="en-US" id="label_DebtInstrumentCovenantRatioEBITDAToFixedChargesMinimum">Debt Instrument Covenant, Ratio EBITDA to Fixed Charges Minimum</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentCovenantRatioEBITDAToFixedChargesMinimum" xlink:to="label_DebtInstrumentCovenantRatioEBITDAToFixedChargesMinimum" xlink:title="label: DebtInstrumentCovenantRatioEBITDAToFixedChargesMinimum to label_DebtInstrumentCovenantRatioEBITDAToFixedChargesMinimum" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentCovenantRatioEBITDAToFixedChargesMinimum_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentCovenantRatioEBITDAToFixedChargesMinimum" xml:lang="en-US" id="label_DebtInstrumentCovenantRatioEBITDAToFixedChargesMinimum_2">Minimum ratio of EBITDA to fixed charges</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentCovenantRatioEBITDAToFixedChargesMinimum" xlink:to="label_DebtInstrumentCovenantRatioEBITDAToFixedChargesMinimum_2" xlink:title="label: DebtInstrumentCovenantRatioEBITDAToFixedChargesMinimum to label_DebtInstrumentCovenantRatioEBITDAToFixedChargesMinimum" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentCovenantRatioEBITDAToFixedChargesMinimum_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentCovenantRatioEBITDAToFixedChargesMinimum" xml:lang="en-US" id="label_DebtInstrumentCovenantRatioEBITDAToFixedChargesMinimum_3">The minimum ratio of EBITDA to fixed charges required to be maintained per terms of the debt instrument covenants.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentCovenantRatioEBITDAToFixedChargesMinimum" xlink:to="label_DebtInstrumentCovenantRatioEBITDAToFixedChargesMinimum_3" xlink:title="label: DebtInstrumentCovenantRatioEBITDAToFixedChargesMinimum to label_DebtInstrumentCovenantRatioEBITDAToFixedChargesMinimum" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" xlink:label="DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" xlink:title="DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" xml:lang="en-US" id="label_DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate">Debt Instrument, Fair Value Disclosure, Assumptions Used to Estimate Fair Value, Discount Rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" xlink:to="label_DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" xlink:title="label: DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate to label_DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" xml:lang="en-US" id="label_DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate_2">Discount rate used to value future cash outflow (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" xlink:to="label_DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate_2" xlink:title="label: DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate to label_DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" xml:lang="en-US" id="label_DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate_3">Represents the discount rate used to value future cash outflows of debt.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" xlink:to="label_DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate_3" xlink:title="label: DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate to label_DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccumulatedDistributionsInExcessOfNetIncomeMember" xlink:label="AccumulatedDistributionsInExcessOfNetIncomeMember" xlink:title="AccumulatedDistributionsInExcessOfNetIncomeMember" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedDistributionsInExcessOfNetIncomeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccumulatedDistributionsInExcessOfNetIncomeMember" xml:lang="en-US" id="label_AccumulatedDistributionsInExcessOfNetIncomeMember">Accumulated Distributions in Excess of Net Income [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedDistributionsInExcessOfNetIncomeMember" xlink:to="label_AccumulatedDistributionsInExcessOfNetIncomeMember" xlink:title="label: AccumulatedDistributionsInExcessOfNetIncomeMember to label_AccumulatedDistributionsInExcessOfNetIncomeMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedDistributionsInExcessOfNetIncomeMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AccumulatedDistributionsInExcessOfNetIncomeMember" xml:lang="en-US" id="label_AccumulatedDistributionsInExcessOfNetIncomeMember_2">Cumulative Distributions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedDistributionsInExcessOfNetIncomeMember" xlink:to="label_AccumulatedDistributionsInExcessOfNetIncomeMember_2" xlink:title="label: AccumulatedDistributionsInExcessOfNetIncomeMember to label_AccumulatedDistributionsInExcessOfNetIncomeMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement" xlink:label="DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement" xlink:title="DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement" xml:lang="en-US" id="label_DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement">Maximum available for issuance under private shelf agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement" xlink:to="label_DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement" xlink:title="label: DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement to label_DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement" xml:lang="en-US" id="label_DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement_2">Debt Instrument, Maximum Authorized for Issuance under Private Shelf Agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement" xlink:to="label_DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement_2" xlink:title="label: DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement to label_DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement" xml:lang="en-US" id="label_DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement_3">Represents the maximum amount authorized for issuance under the uncommitted private shelf agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement" xlink:to="label_DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement_3" xlink:title="label: DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement to label_DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DebtInstrumentNumberOfCollateralProperties" xlink:label="DebtInstrumentNumberOfCollateralProperties" xlink:title="DebtInstrumentNumberOfCollateralProperties" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentNumberOfCollateralProperties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentNumberOfCollateralProperties" xml:lang="en-US" id="label_DebtInstrumentNumberOfCollateralProperties">Debt Instrument, Number of Collateral Properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentNumberOfCollateralProperties" xlink:to="label_DebtInstrumentNumberOfCollateralProperties" xlink:title="label: DebtInstrumentNumberOfCollateralProperties to label_DebtInstrumentNumberOfCollateralProperties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentNumberOfCollateralProperties_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentNumberOfCollateralProperties" xml:lang="en-US" id="label_DebtInstrumentNumberOfCollateralProperties_2">Represents the number of properties held as collateral for debt obligations.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentNumberOfCollateralProperties" xlink:to="label_DebtInstrumentNumberOfCollateralProperties_2" xlink:title="label: DebtInstrumentNumberOfCollateralProperties to label_DebtInstrumentNumberOfCollateralProperties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentNumberOfCollateralProperties_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentNumberOfCollateralProperties" xml:lang="en-US" id="label_DebtInstrumentNumberOfCollateralProperties_3">Number of assisted living properties securing debt instruments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentNumberOfCollateralProperties" xlink:to="label_DebtInstrumentNumberOfCollateralProperties_3" xlink:title="label: DebtInstrumentNumberOfCollateralProperties to label_DebtInstrumentNumberOfCollateralProperties" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DebtInstrumentNumberOfLoansOutstanding" xlink:label="DebtInstrumentNumberOfLoansOutstanding" xlink:title="DebtInstrumentNumberOfLoansOutstanding" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentNumberOfLoansOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentNumberOfLoansOutstanding" xml:lang="en-US" id="label_DebtInstrumentNumberOfLoansOutstanding">Debt Instrument, Number of Loans, Outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentNumberOfLoansOutstanding" xlink:to="label_DebtInstrumentNumberOfLoansOutstanding" xlink:title="label: DebtInstrumentNumberOfLoansOutstanding to label_DebtInstrumentNumberOfLoansOutstanding" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentNumberOfLoansOutstanding_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentNumberOfLoansOutstanding" xml:lang="en-US" id="label_DebtInstrumentNumberOfLoansOutstanding_2">Number of loans outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentNumberOfLoansOutstanding" xlink:to="label_DebtInstrumentNumberOfLoansOutstanding_2" xlink:title="label: DebtInstrumentNumberOfLoansOutstanding to label_DebtInstrumentNumberOfLoansOutstanding" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentNumberOfLoansOutstanding_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentNumberOfLoansOutstanding" xml:lang="en-US" id="label_DebtInstrumentNumberOfLoansOutstanding_3">Represents the number of loans outstanding as of the balance sheet date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentNumberOfLoansOutstanding" xlink:to="label_DebtInstrumentNumberOfLoansOutstanding_3" xlink:title="label: DebtInstrumentNumberOfLoansOutstanding to label_DebtInstrumentNumberOfLoansOutstanding" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DebtInstrumentNumberOfLoansPaidOff" xlink:label="DebtInstrumentNumberOfLoansPaidOff" xlink:title="DebtInstrumentNumberOfLoansPaidOff" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentNumberOfLoansPaidOff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentNumberOfLoansPaidOff" xml:lang="en-US" id="label_DebtInstrumentNumberOfLoansPaidOff">Debt Instrument, Number of Loans Paid off</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentNumberOfLoansPaidOff" xlink:to="label_DebtInstrumentNumberOfLoansPaidOff" xlink:title="label: DebtInstrumentNumberOfLoansPaidOff to label_DebtInstrumentNumberOfLoansPaidOff" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentNumberOfLoansPaidOff_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentNumberOfLoansPaidOff" xml:lang="en-US" id="label_DebtInstrumentNumberOfLoansPaidOff_2">Number of loans paid off</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentNumberOfLoansPaidOff" xlink:to="label_DebtInstrumentNumberOfLoansPaidOff_2" xlink:title="label: DebtInstrumentNumberOfLoansPaidOff to label_DebtInstrumentNumberOfLoansPaidOff" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentNumberOfLoansPaidOff_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentNumberOfLoansPaidOff" xml:lang="en-US" id="label_DebtInstrumentNumberOfLoansPaidOff_3">Represents the number of loans paid off by the entity during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentNumberOfLoansPaidOff" xlink:to="label_DebtInstrumentNumberOfLoansPaidOff_3" xlink:title="label: DebtInstrumentNumberOfLoansPaidOff to label_DebtInstrumentNumberOfLoansPaidOff" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DebtInstrumentPrivateShelfAgreementIssuancePeriod" xlink:label="DebtInstrumentPrivateShelfAgreementIssuancePeriod" xlink:title="DebtInstrumentPrivateShelfAgreementIssuancePeriod" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentPrivateShelfAgreementIssuancePeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentPrivateShelfAgreementIssuancePeriod" xml:lang="en-US" id="label_DebtInstrumentPrivateShelfAgreementIssuancePeriod">Debt Instrument, Private Shelf Agreement Issuance Period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentPrivateShelfAgreementIssuancePeriod" xlink:to="label_DebtInstrumentPrivateShelfAgreementIssuancePeriod" xlink:title="label: DebtInstrumentPrivateShelfAgreementIssuancePeriod to label_DebtInstrumentPrivateShelfAgreementIssuancePeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentPrivateShelfAgreementIssuancePeriod_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentPrivateShelfAgreementIssuancePeriod" xml:lang="en-US" id="label_DebtInstrumentPrivateShelfAgreementIssuancePeriod_2">Represents the issuance period specified in the uncommitted private shelf agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentPrivateShelfAgreementIssuancePeriod" xlink:to="label_DebtInstrumentPrivateShelfAgreementIssuancePeriod_2" xlink:title="label: DebtInstrumentPrivateShelfAgreementIssuancePeriod to label_DebtInstrumentPrivateShelfAgreementIssuancePeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentPrivateShelfAgreementIssuancePeriod_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentPrivateShelfAgreementIssuancePeriod" xml:lang="en-US" id="label_DebtInstrumentPrivateShelfAgreementIssuancePeriod_3">Issuance period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentPrivateShelfAgreementIssuancePeriod" xlink:to="label_DebtInstrumentPrivateShelfAgreementIssuancePeriod_3" xlink:title="label: DebtInstrumentPrivateShelfAgreementIssuancePeriod to label_DebtInstrumentPrivateShelfAgreementIssuancePeriod" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DebtInstrumentShelfAgreementMaximumAverageLife" xlink:label="DebtInstrumentShelfAgreementMaximumAverageLife" xlink:title="DebtInstrumentShelfAgreementMaximumAverageLife" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentShelfAgreementMaximumAverageLife" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentShelfAgreementMaximumAverageLife" xml:lang="en-US" id="label_DebtInstrumentShelfAgreementMaximumAverageLife">Debt Instrument, Shelf Agreement Maximum Average Life</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentShelfAgreementMaximumAverageLife" xlink:to="label_DebtInstrumentShelfAgreementMaximumAverageLife" xlink:title="label: DebtInstrumentShelfAgreementMaximumAverageLife to label_DebtInstrumentShelfAgreementMaximumAverageLife" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentShelfAgreementMaximumAverageLife_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentShelfAgreementMaximumAverageLife" xml:lang="en-US" id="label_DebtInstrumentShelfAgreementMaximumAverageLife_2">Represents the maximum average life from the date of original issuance as specified in the uncommitted private shelf agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentShelfAgreementMaximumAverageLife" xlink:to="label_DebtInstrumentShelfAgreementMaximumAverageLife_2" xlink:title="label: DebtInstrumentShelfAgreementMaximumAverageLife to label_DebtInstrumentShelfAgreementMaximumAverageLife" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentShelfAgreementMaximumAverageLife_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentShelfAgreementMaximumAverageLife" xml:lang="en-US" id="label_DebtInstrumentShelfAgreementMaximumAverageLife_3">Maximum average life from the date of original issuance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentShelfAgreementMaximumAverageLife" xlink:to="label_DebtInstrumentShelfAgreementMaximumAverageLife_3" xlink:title="label: DebtInstrumentShelfAgreementMaximumAverageLife to label_DebtInstrumentShelfAgreementMaximumAverageLife" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DebtInstrumentShelfAgreementMaximumMaturityPeriod" xlink:label="DebtInstrumentShelfAgreementMaximumMaturityPeriod" xlink:title="DebtInstrumentShelfAgreementMaximumMaturityPeriod" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentShelfAgreementMaximumMaturityPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentShelfAgreementMaximumMaturityPeriod" xml:lang="en-US" id="label_DebtInstrumentShelfAgreementMaximumMaturityPeriod">Debt Instrument, Shelf Agreement Maximum Maturity Period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentShelfAgreementMaximumMaturityPeriod" xlink:to="label_DebtInstrumentShelfAgreementMaximumMaturityPeriod" xlink:title="label: DebtInstrumentShelfAgreementMaximumMaturityPeriod to label_DebtInstrumentShelfAgreementMaximumMaturityPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentShelfAgreementMaximumMaturityPeriod_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentShelfAgreementMaximumMaturityPeriod" xml:lang="en-US" id="label_DebtInstrumentShelfAgreementMaximumMaturityPeriod_2">Represents the maximum maturity period specified in the uncommitted private shelf agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentShelfAgreementMaximumMaturityPeriod" xlink:to="label_DebtInstrumentShelfAgreementMaximumMaturityPeriod_2" xlink:title="label: DebtInstrumentShelfAgreementMaximumMaturityPeriod to label_DebtInstrumentShelfAgreementMaximumMaturityPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentShelfAgreementMaximumMaturityPeriod_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentShelfAgreementMaximumMaturityPeriod" xml:lang="en-US" id="label_DebtInstrumentShelfAgreementMaximumMaturityPeriod_3">Maximum maturity period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentShelfAgreementMaximumMaturityPeriod" xlink:to="label_DebtInstrumentShelfAgreementMaximumMaturityPeriod_3" xlink:title="label: DebtInstrumentShelfAgreementMaximumMaturityPeriod to label_DebtInstrumentShelfAgreementMaximumMaturityPeriod" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DebtInstrumentVariableRateBaseAxis" xlink:label="DebtInstrumentVariableRateBaseAxis" xlink:title="DebtInstrumentVariableRateBaseAxis" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentVariableRateBaseAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentVariableRateBaseAxis" xml:lang="en-US" id="label_DebtInstrumentVariableRateBaseAxis">Debt Instrument, Variable Rate Base [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentVariableRateBaseAxis" xlink:to="label_DebtInstrumentVariableRateBaseAxis" xlink:title="label: DebtInstrumentVariableRateBaseAxis to label_DebtInstrumentVariableRateBaseAxis" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentVariableRateBaseAxis_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentVariableRateBaseAxis" xml:lang="en-US" id="label_DebtInstrumentVariableRateBaseAxis_2">The alternative reference rates that may be used to calculate the variable interest rate of the debt instrument.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentVariableRateBaseAxis" xlink:to="label_DebtInstrumentVariableRateBaseAxis_2" xlink:title="label: DebtInstrumentVariableRateBaseAxis to label_DebtInstrumentVariableRateBaseAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DebtInstrumentVariableRateBaseDomain" xlink:label="DebtInstrumentVariableRateBaseDomain" xlink:title="DebtInstrumentVariableRateBaseDomain" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentVariableRateBaseDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentVariableRateBaseDomain" xml:lang="en-US" id="label_DebtInstrumentVariableRateBaseDomain">Debt Instrument, Variable Rate Base [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentVariableRateBaseDomain" xlink:to="label_DebtInstrumentVariableRateBaseDomain" xlink:title="label: DebtInstrumentVariableRateBaseDomain to label_DebtInstrumentVariableRateBaseDomain" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentVariableRateBaseDomain_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentVariableRateBaseDomain" xml:lang="en-US" id="label_DebtInstrumentVariableRateBaseDomain_2">Identification of the reference rate that is used to calculate the variable interest rate of the debt instrument.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentVariableRateBaseDomain" xlink:to="label_DebtInstrumentVariableRateBaseDomain_2" xlink:title="label: DebtInstrumentVariableRateBaseDomain to label_DebtInstrumentVariableRateBaseDomain" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DebtInstrumentVariableRateBaseLIBORMember" xlink:label="DebtInstrumentVariableRateBaseLIBORMember" xlink:title="DebtInstrumentVariableRateBaseLIBORMember" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentVariableRateBaseLIBORMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentVariableRateBaseLIBORMember" xml:lang="en-US" id="label_DebtInstrumentVariableRateBaseLIBORMember">LIBOR</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentVariableRateBaseLIBORMember" xlink:to="label_DebtInstrumentVariableRateBaseLIBORMember" xlink:title="label: DebtInstrumentVariableRateBaseLIBORMember to label_DebtInstrumentVariableRateBaseLIBORMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentVariableRateBaseLIBORMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentVariableRateBaseLIBORMember" xml:lang="en-US" id="label_DebtInstrumentVariableRateBaseLIBORMember_2">Debt Instrument Variable Rate Base LIBOR [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentVariableRateBaseLIBORMember" xlink:to="label_DebtInstrumentVariableRateBaseLIBORMember_2" xlink:title="label: DebtInstrumentVariableRateBaseLIBORMember to label_DebtInstrumentVariableRateBaseLIBORMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentVariableRateBaseLIBORMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentVariableRateBaseLIBORMember" xml:lang="en-US" id="label_DebtInstrumentVariableRateBaseLIBORMember_3">The London Interbank Offered Rate (LIBOR) used to calculate the variable interest rate of the debt instrument.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentVariableRateBaseLIBORMember" xlink:to="label_DebtInstrumentVariableRateBaseLIBORMember_3" xlink:title="label: DebtInstrumentVariableRateBaseLIBORMember to label_DebtInstrumentVariableRateBaseLIBORMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DebtInstrumentVariableRatePrimeRateMember" xlink:label="DebtInstrumentVariableRatePrimeRateMember" xlink:title="DebtInstrumentVariableRatePrimeRateMember" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentVariableRatePrimeRateMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentVariableRatePrimeRateMember" xml:lang="en-US" id="label_DebtInstrumentVariableRatePrimeRateMember">The prime rate used to calculate the variable interest rate of the debt instrument.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentVariableRatePrimeRateMember" xlink:to="label_DebtInstrumentVariableRatePrimeRateMember" xlink:title="label: DebtInstrumentVariableRatePrimeRateMember to label_DebtInstrumentVariableRatePrimeRateMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentVariableRatePrimeRateMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentVariableRatePrimeRateMember" xml:lang="en-US" id="label_DebtInstrumentVariableRatePrimeRateMember_2">Prime rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentVariableRatePrimeRateMember" xlink:to="label_DebtInstrumentVariableRatePrimeRateMember_2" xlink:title="label: DebtInstrumentVariableRatePrimeRateMember to label_DebtInstrumentVariableRatePrimeRateMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentVariableRatePrimeRateMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentVariableRatePrimeRateMember" xml:lang="en-US" id="label_DebtInstrumentVariableRatePrimeRateMember_3">Debt Instrument Variable Rate Prime Rate [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentVariableRatePrimeRateMember" xlink:to="label_DebtInstrumentVariableRatePrimeRateMember_3" xlink:title="label: DebtInstrumentVariableRatePrimeRateMember to label_DebtInstrumentVariableRatePrimeRateMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DeferredRentReceivablesWrittenOff" xlink:label="DeferredRentReceivablesWrittenOff" xlink:title="DeferredRentReceivablesWrittenOff" />
    <link:label xlink:type="resource" xlink:label="label_DeferredRentReceivablesWrittenOff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredRentReceivablesWrittenOff" xml:lang="en-US" id="label_DeferredRentReceivablesWrittenOff">Deferred Rent Receivables Written Off</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredRentReceivablesWrittenOff" xlink:to="label_DeferredRentReceivablesWrittenOff" xlink:title="label: DeferredRentReceivablesWrittenOff to label_DeferredRentReceivablesWrittenOff" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DeferredRentReceivablesWrittenOff_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DeferredRentReceivablesWrittenOff" xml:lang="en-US" id="label_DeferredRentReceivablesWrittenOff_2">Straight-line rent receivable written off</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredRentReceivablesWrittenOff" xlink:to="label_DeferredRentReceivablesWrittenOff_2" xlink:title="label: DeferredRentReceivablesWrittenOff to label_DeferredRentReceivablesWrittenOff" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DeferredRentReceivablesWrittenOff_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DeferredRentReceivablesWrittenOff" xml:lang="en-US" id="label_DeferredRentReceivablesWrittenOff_3">Represents the deferred rent receivable written off during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredRentReceivablesWrittenOff" xlink:to="label_DeferredRentReceivablesWrittenOff_3" xlink:title="label: DeferredRentReceivablesWrittenOff to label_DeferredRentReceivablesWrittenOff" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:title="AccumulatedOtherComprehensiveIncomeLossNetOfTax" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xml:lang="en-US" id="label_AccumulatedOtherComprehensiveIncomeLossNetOfTax">Accumulated Other Comprehensive Income (Loss), Net of Tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:to="label_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:title="label: AccumulatedOtherComprehensiveIncomeLossNetOfTax to label_AccumulatedOtherComprehensiveIncomeLossNetOfTax" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedOtherComprehensiveIncomeLossNetOfTax_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xml:lang="en-US" id="label_AccumulatedOtherComprehensiveIncomeLossNetOfTax_2">Accumulated other comprehensive income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:to="label_AccumulatedOtherComprehensiveIncomeLossNetOfTax_2" xlink:title="label: AccumulatedOtherComprehensiveIncomeLossNetOfTax to label_AccumulatedOtherComprehensiveIncomeLossNetOfTax" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DiscontinuedOperationsSaleOfPropertyHeldForSaleMaximumPeriod" xlink:label="DiscontinuedOperationsSaleOfPropertyHeldForSaleMaximumPeriod" xlink:title="DiscontinuedOperationsSaleOfPropertyHeldForSaleMaximumPeriod" />
    <link:label xlink:type="resource" xlink:label="label_DiscontinuedOperationsSaleOfPropertyHeldForSaleMaximumPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DiscontinuedOperationsSaleOfPropertyHeldForSaleMaximumPeriod" xml:lang="en-US" id="label_DiscontinuedOperationsSaleOfPropertyHeldForSaleMaximumPeriod">Discontinued Operations, Sale of Property Held For Sale, Maximum Period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DiscontinuedOperationsSaleOfPropertyHeldForSaleMaximumPeriod" xlink:to="label_DiscontinuedOperationsSaleOfPropertyHeldForSaleMaximumPeriod" xlink:title="label: DiscontinuedOperationsSaleOfPropertyHeldForSaleMaximumPeriod to label_DiscontinuedOperationsSaleOfPropertyHeldForSaleMaximumPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DiscontinuedOperationsSaleOfPropertyHeldForSaleMaximumPeriod_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DiscontinuedOperationsSaleOfPropertyHeldForSaleMaximumPeriod" xml:lang="en-US" id="label_DiscontinuedOperationsSaleOfPropertyHeldForSaleMaximumPeriod_2">Maximum period within which sale of property is probable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DiscontinuedOperationsSaleOfPropertyHeldForSaleMaximumPeriod" xlink:to="label_DiscontinuedOperationsSaleOfPropertyHeldForSaleMaximumPeriod_2" xlink:title="label: DiscontinuedOperationsSaleOfPropertyHeldForSaleMaximumPeriod to label_DiscontinuedOperationsSaleOfPropertyHeldForSaleMaximumPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DiscontinuedOperationsSaleOfPropertyHeldForSaleMaximumPeriod_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DiscontinuedOperationsSaleOfPropertyHeldForSaleMaximumPeriod" xml:lang="en-US" id="label_DiscontinuedOperationsSaleOfPropertyHeldForSaleMaximumPeriod_3">Represents the maximum period within which the sale of property will be completed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DiscontinuedOperationsSaleOfPropertyHeldForSaleMaximumPeriod" xlink:to="label_DiscontinuedOperationsSaleOfPropertyHeldForSaleMaximumPeriod_3" xlink:title="label: DiscontinuedOperationsSaleOfPropertyHeldForSaleMaximumPeriod to label_DiscontinuedOperationsSaleOfPropertyHeldForSaleMaximumPeriod" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DisposalGroupIncludingDiscontinuedOperationAggregateExpenses" xlink:label="DisposalGroupIncludingDiscontinuedOperationAggregateExpenses" xlink:title="DisposalGroupIncludingDiscontinuedOperationAggregateExpenses" />
    <link:label xlink:type="resource" xlink:label="label_DisposalGroupIncludingDiscontinuedOperationAggregateExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisposalGroupIncludingDiscontinuedOperationAggregateExpenses" xml:lang="en-US" id="label_DisposalGroupIncludingDiscontinuedOperationAggregateExpenses">Disposal Group, Including Discontinued Operation Aggregate Expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalGroupIncludingDiscontinuedOperationAggregateExpenses" xlink:to="label_DisposalGroupIncludingDiscontinuedOperationAggregateExpenses" xlink:title="label: DisposalGroupIncludingDiscontinuedOperationAggregateExpenses to label_DisposalGroupIncludingDiscontinuedOperationAggregateExpenses" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DisposalGroupIncludingDiscontinuedOperationAggregateExpenses_2" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:title="label_DisposalGroupIncludingDiscontinuedOperationAggregateExpenses" xml:lang="en-US" id="label_DisposalGroupIncludingDiscontinuedOperationAggregateExpenses_2">Total expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalGroupIncludingDiscontinuedOperationAggregateExpenses" xlink:to="label_DisposalGroupIncludingDiscontinuedOperationAggregateExpenses_2" xlink:title="label: DisposalGroupIncludingDiscontinuedOperationAggregateExpenses to label_DisposalGroupIncludingDiscontinuedOperationAggregateExpenses" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DisposalGroupIncludingDiscontinuedOperationAggregateExpenses_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisposalGroupIncludingDiscontinuedOperationAggregateExpenses" xml:lang="en-US" id="label_DisposalGroupIncludingDiscontinuedOperationAggregateExpenses_3">Amount of aggregate expenses attributable to the disposal group, including a component of the entity (discontinued operation), during the reporting period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalGroupIncludingDiscontinuedOperationAggregateExpenses" xlink:to="label_DisposalGroupIncludingDiscontinuedOperationAggregateExpenses_3" xlink:title="label: DisposalGroupIncludingDiscontinuedOperationAggregateExpenses to label_DisposalGroupIncludingDiscontinuedOperationAggregateExpenses" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization" xlink:label="DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization" xlink:title="DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization" />
    <link:label xlink:type="resource" xlink:label="label_DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization" xml:lang="en-US" id="label_DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization">Disposal Group, Including Discontinued Operation Depreciation and Amortization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization" xlink:to="label_DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization" xlink:title="label: DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization to label_DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization" xml:lang="en-US" id="label_DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization_2">Depreciation and amortization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization" xlink:to="label_DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization_2" xlink:title="label: DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization to label_DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization" xml:lang="en-US" id="label_DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization_3">Amount of Depreciation and amortization attributable to the disposal group, including a component of the entity (discontinued operation), during the reporting period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization" xlink:to="label_DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization_3" xlink:title="label: DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization to label_DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DisposalGroupIncludingDiscontinuedOperationInterestAndOtherIncome" xlink:label="DisposalGroupIncludingDiscontinuedOperationInterestAndOtherIncome" xlink:title="DisposalGroupIncludingDiscontinuedOperationInterestAndOtherIncome" />
    <link:label xlink:type="resource" xlink:label="label_DisposalGroupIncludingDiscontinuedOperationInterestAndOtherIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisposalGroupIncludingDiscontinuedOperationInterestAndOtherIncome" xml:lang="en-US" id="label_DisposalGroupIncludingDiscontinuedOperationInterestAndOtherIncome">Disposal Group, Including Discontinued Operation Interest and Other Income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalGroupIncludingDiscontinuedOperationInterestAndOtherIncome" xlink:to="label_DisposalGroupIncludingDiscontinuedOperationInterestAndOtherIncome" xlink:title="label: DisposalGroupIncludingDiscontinuedOperationInterestAndOtherIncome to label_DisposalGroupIncludingDiscontinuedOperationInterestAndOtherIncome" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DisposalGroupIncludingDiscontinuedOperationInterestAndOtherIncome_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisposalGroupIncludingDiscontinuedOperationInterestAndOtherIncome" xml:lang="en-US" id="label_DisposalGroupIncludingDiscontinuedOperationInterestAndOtherIncome_2">Interest and other income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalGroupIncludingDiscontinuedOperationInterestAndOtherIncome" xlink:to="label_DisposalGroupIncludingDiscontinuedOperationInterestAndOtherIncome_2" xlink:title="label: DisposalGroupIncludingDiscontinuedOperationInterestAndOtherIncome to label_DisposalGroupIncludingDiscontinuedOperationInterestAndOtherIncome" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DisposalGroupIncludingDiscontinuedOperationInterestAndOtherIncome_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisposalGroupIncludingDiscontinuedOperationInterestAndOtherIncome" xml:lang="en-US" id="label_DisposalGroupIncludingDiscontinuedOperationInterestAndOtherIncome_3">Amount of interest or other income attributable to the disposal group, including a component of the entity (discontinued operation), during the reporting period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalGroupIncludingDiscontinuedOperationInterestAndOtherIncome" xlink:to="label_DisposalGroupIncludingDiscontinuedOperationInterestAndOtherIncome_3" xlink:title="label: DisposalGroupIncludingDiscontinuedOperationInterestAndOtherIncome to label_DisposalGroupIncludingDiscontinuedOperationInterestAndOtherIncome" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DisposalGroupIncludingDiscontinuedOperationOperatingAndOtherExpenses" xlink:label="DisposalGroupIncludingDiscontinuedOperationOperatingAndOtherExpenses" xlink:title="DisposalGroupIncludingDiscontinuedOperationOperatingAndOtherExpenses" />
    <link:label xlink:type="resource" xlink:label="label_DisposalGroupIncludingDiscontinuedOperationOperatingAndOtherExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisposalGroupIncludingDiscontinuedOperationOperatingAndOtherExpenses" xml:lang="en-US" id="label_DisposalGroupIncludingDiscontinuedOperationOperatingAndOtherExpenses">Disposal Group Including Discontinued Operation Operating and Other Expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalGroupIncludingDiscontinuedOperationOperatingAndOtherExpenses" xlink:to="label_DisposalGroupIncludingDiscontinuedOperationOperatingAndOtherExpenses" xlink:title="label: DisposalGroupIncludingDiscontinuedOperationOperatingAndOtherExpenses to label_DisposalGroupIncludingDiscontinuedOperationOperatingAndOtherExpenses" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DisposalGroupIncludingDiscontinuedOperationOperatingAndOtherExpenses_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DisposalGroupIncludingDiscontinuedOperationOperatingAndOtherExpenses" xml:lang="en-US" id="label_DisposalGroupIncludingDiscontinuedOperationOperatingAndOtherExpenses_2">General and administrative expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalGroupIncludingDiscontinuedOperationOperatingAndOtherExpenses" xlink:to="label_DisposalGroupIncludingDiscontinuedOperationOperatingAndOtherExpenses_2" xlink:title="label: DisposalGroupIncludingDiscontinuedOperationOperatingAndOtherExpenses to label_DisposalGroupIncludingDiscontinuedOperationOperatingAndOtherExpenses" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DisposalGroupIncludingDiscontinuedOperationOperatingAndOtherExpenses_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisposalGroupIncludingDiscontinuedOperationOperatingAndOtherExpenses" xml:lang="en-US" id="label_DisposalGroupIncludingDiscontinuedOperationOperatingAndOtherExpenses_3">Amount of operating and other expenses attributable to the disposal group, including a component of the entity (discontinued operation), during the reporting period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalGroupIncludingDiscontinuedOperationOperatingAndOtherExpenses" xlink:to="label_DisposalGroupIncludingDiscontinuedOperationOperatingAndOtherExpenses_3" xlink:title="label: DisposalGroupIncludingDiscontinuedOperationOperatingAndOtherExpenses to label_DisposalGroupIncludingDiscontinuedOperationOperatingAndOtherExpenses" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DistributionsDisclosureAbstract" xlink:label="DistributionsDisclosureAbstract" xlink:title="DistributionsDisclosureAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DistributionsDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DistributionsDisclosureAbstract" xml:lang="en-US" id="label_DistributionsDisclosureAbstract">Distributions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DistributionsDisclosureAbstract" xlink:to="label_DistributionsDisclosureAbstract" xlink:title="label: DistributionsDisclosureAbstract to label_DistributionsDisclosureAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DistributionsDisclosureTextBlock" xlink:label="DistributionsDisclosureTextBlock" xlink:title="DistributionsDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_DistributionsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DistributionsDisclosureTextBlock" xml:lang="en-US" id="label_DistributionsDisclosureTextBlock">The entire disclosure distributions of taxable income in order to continue to qualify as a REIT.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DistributionsDisclosureTextBlock" xlink:to="label_DistributionsDisclosureTextBlock" xlink:title="label: DistributionsDisclosureTextBlock to label_DistributionsDisclosureTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DistributionsDisclosureTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DistributionsDisclosureTextBlock" xml:lang="en-US" id="label_DistributionsDisclosureTextBlock_2">Distributions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DistributionsDisclosureTextBlock" xlink:to="label_DistributionsDisclosureTextBlock_2" xlink:title="label: DistributionsDisclosureTextBlock to label_DistributionsDisclosureTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DistributionsDisclosureTextBlock_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DistributionsDisclosureTextBlock" xml:lang="en-US" id="label_DistributionsDisclosureTextBlock_3">Distributions Disclosure [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DistributionsDisclosureTextBlock" xlink:to="label_DistributionsDisclosureTextBlock_3" xlink:title="label: DistributionsDisclosureTextBlock to label_DistributionsDisclosureTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DocumentAndEntityInformationAbstract" xlink:label="DocumentAndEntityInformationAbstract" xlink:title="DocumentAndEntityInformationAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DocumentAndEntityInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DocumentAndEntityInformationAbstract" xml:lang="en-US" id="label_DocumentAndEntityInformationAbstract">Document and Entity Information</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentAndEntityInformationAbstract" xlink:to="label_DocumentAndEntityInformationAbstract" xlink:title="label: DocumentAndEntityInformationAbstract to label_DocumentAndEntityInformationAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_EarnOutLiabilities" xlink:label="EarnOutLiabilities" xlink:title="EarnOutLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_EarnOutLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EarnOutLiabilities" xml:lang="en-US" id="label_EarnOutLiabilities">Earn Out Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarnOutLiabilities" xlink:to="label_EarnOutLiabilities" xlink:title="label: EarnOutLiabilities to label_EarnOutLiabilities" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EarnOutLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EarnOutLiabilities" xml:lang="en-US" id="label_EarnOutLiabilities_2">Earn-out liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarnOutLiabilities" xlink:to="label_EarnOutLiabilities_2" xlink:title="label: EarnOutLiabilities to label_EarnOutLiabilities" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EarnOutLiabilities_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_EarnOutLiabilities" xml:lang="en-US" id="label_EarnOutLiabilities_3">This element represents the liabilities for earn out payments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarnOutLiabilities" xlink:to="label_EarnOutLiabilities_3" xlink:title="label: EarnOutLiabilities to label_EarnOutLiabilities" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EarnOutLiabilities_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_EarnOutLiabilities" xml:lang="en-US" id="label_EarnOutLiabilities_4">Contingent liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarnOutLiabilities" xlink:to="label_EarnOutLiabilities_4" xlink:title="label: EarnOutLiabilities to label_EarnOutLiabilities" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_EffectOfOnePercentagePointDecreaseInInterestRateMember" xlink:label="EffectOfOnePercentagePointDecreaseInInterestRateMember" xlink:title="EffectOfOnePercentagePointDecreaseInInterestRateMember" />
    <link:label xlink:type="resource" xlink:label="label_EffectOfOnePercentagePointDecreaseInInterestRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EffectOfOnePercentagePointDecreaseInInterestRateMember" xml:lang="en-US" id="label_EffectOfOnePercentagePointDecreaseInInterestRateMember">Effect of One Percentage Point Decrease in Interest Rate [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EffectOfOnePercentagePointDecreaseInInterestRateMember" xlink:to="label_EffectOfOnePercentagePointDecreaseInInterestRateMember" xlink:title="label: EffectOfOnePercentagePointDecreaseInInterestRateMember to label_EffectOfOnePercentagePointDecreaseInInterestRateMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EffectOfOnePercentagePointDecreaseInInterestRateMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EffectOfOnePercentagePointDecreaseInInterestRateMember" xml:lang="en-US" id="label_EffectOfOnePercentagePointDecreaseInInterestRateMember_2">Effect of -100 Basis Points on fair value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EffectOfOnePercentagePointDecreaseInInterestRateMember" xlink:to="label_EffectOfOnePercentagePointDecreaseInInterestRateMember_2" xlink:title="label: EffectOfOnePercentagePointDecreaseInInterestRateMember to label_EffectOfOnePercentagePointDecreaseInInterestRateMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EffectOfOnePercentagePointDecreaseInInterestRateMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_EffectOfOnePercentagePointDecreaseInInterestRateMember" xml:lang="en-US" id="label_EffectOfOnePercentagePointDecreaseInInterestRateMember_3">The effect of a one-percentage-point decrease in interest rate on fair value of assets and liabilities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EffectOfOnePercentagePointDecreaseInInterestRateMember" xlink:to="label_EffectOfOnePercentagePointDecreaseInInterestRateMember_3" xlink:title="label: EffectOfOnePercentagePointDecreaseInInterestRateMember to label_EffectOfOnePercentagePointDecreaseInInterestRateMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_EffectOfOnePercentagePointIncreaseInInterestRateMember" xlink:label="EffectOfOnePercentagePointIncreaseInInterestRateMember" xlink:title="EffectOfOnePercentagePointIncreaseInInterestRateMember" />
    <link:label xlink:type="resource" xlink:label="label_EffectOfOnePercentagePointIncreaseInInterestRateMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_EffectOfOnePercentagePointIncreaseInInterestRateMember" xml:lang="en-US" id="label_EffectOfOnePercentagePointIncreaseInInterestRateMember">The effect of a one-percentage-point increase in interest rate on fair value of assets and liabilities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EffectOfOnePercentagePointIncreaseInInterestRateMember" xlink:to="label_EffectOfOnePercentagePointIncreaseInInterestRateMember" xlink:title="label: EffectOfOnePercentagePointIncreaseInInterestRateMember to label_EffectOfOnePercentagePointIncreaseInInterestRateMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EffectOfOnePercentagePointIncreaseInInterestRateMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EffectOfOnePercentagePointIncreaseInInterestRateMember" xml:lang="en-US" id="label_EffectOfOnePercentagePointIncreaseInInterestRateMember_2">Effect of One Percentage Point Increase in Interest Rate [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EffectOfOnePercentagePointIncreaseInInterestRateMember" xlink:to="label_EffectOfOnePercentagePointIncreaseInInterestRateMember_2" xlink:title="label: EffectOfOnePercentagePointIncreaseInInterestRateMember to label_EffectOfOnePercentagePointIncreaseInInterestRateMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EffectOfOnePercentagePointIncreaseInInterestRateMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EffectOfOnePercentagePointIncreaseInInterestRateMember" xml:lang="en-US" id="label_EffectOfOnePercentagePointIncreaseInInterestRateMember_3">Effect of +100 Basis Points on fair value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EffectOfOnePercentagePointIncreaseInInterestRateMember" xlink:to="label_EffectOfOnePercentagePointIncreaseInInterestRateMember_3" xlink:title="label: EffectOfOnePercentagePointIncreaseInInterestRateMember to label_EffectOfOnePercentagePointIncreaseInInterestRateMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_EquityDistributionAgreementMember" xlink:label="EquityDistributionAgreementMember" xlink:title="EquityDistributionAgreementMember" />
    <link:label xlink:type="resource" xlink:label="label_EquityDistributionAgreementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EquityDistributionAgreementMember" xml:lang="en-US" id="label_EquityDistributionAgreementMember">Equity Distribution Agreement [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityDistributionAgreementMember" xlink:to="label_EquityDistributionAgreementMember" xlink:title="label: EquityDistributionAgreementMember to label_EquityDistributionAgreementMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EquityDistributionAgreementMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_EquityDistributionAgreementMember" xml:lang="en-US" id="label_EquityDistributionAgreementMember_2">Represents the equity distribution agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityDistributionAgreementMember" xlink:to="label_EquityDistributionAgreementMember_2" xlink:title="label: EquityDistributionAgreementMember to label_EquityDistributionAgreementMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EquityDistributionAgreementMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EquityDistributionAgreementMember" xml:lang="en-US" id="label_EquityDistributionAgreementMember_3">Equity Distribution Agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityDistributionAgreementMember" xlink:to="label_EquityDistributionAgreementMember_3" xlink:title="label: EquityDistributionAgreementMember to label_EquityDistributionAgreementMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_UnderwrittenPublicOfferingMember" xlink:label="UnderwrittenPublicOfferingMember" xlink:title="UnderwrittenPublicOfferingMember" />
    <link:label xlink:type="resource" xlink:label="label_UnderwrittenPublicOfferingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UnderwrittenPublicOfferingMember" xml:lang="en-US" id="label_UnderwrittenPublicOfferingMember">Underwritten Public Offering [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnderwrittenPublicOfferingMember" xlink:to="label_UnderwrittenPublicOfferingMember" xlink:title="label: UnderwrittenPublicOfferingMember to label_UnderwrittenPublicOfferingMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_UnderwrittenPublicOfferingMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_UnderwrittenPublicOfferingMember" xml:lang="en-US" id="label_UnderwrittenPublicOfferingMember_2">Underwritten public offering</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnderwrittenPublicOfferingMember" xlink:to="label_UnderwrittenPublicOfferingMember_2" xlink:title="label: UnderwrittenPublicOfferingMember to label_UnderwrittenPublicOfferingMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_UnderwrittenPublicOfferingMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_UnderwrittenPublicOfferingMember" xml:lang="en-US" id="label_UnderwrittenPublicOfferingMember_3">Represents the underwritten public offering.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnderwrittenPublicOfferingMember" xlink:to="label_UnderwrittenPublicOfferingMember_3" xlink:title="label: UnderwrittenPublicOfferingMember to label_UnderwrittenPublicOfferingMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ExercisePriceDollar17.06Member" xlink:label="ExercisePriceDollar17.06Member" xlink:title="ExercisePriceDollar17.06Member" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar17.06Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExercisePriceDollar17.06Member" xml:lang="en-US" id="label_ExercisePriceDollar17.06Member">Represents the information pertaining to the stock awards granted at 17.06 dollar per share.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar17.06Member" xlink:to="label_ExercisePriceDollar17.06Member" xlink:title="label: ExercisePriceDollar17.06Member to label_ExercisePriceDollar17.06Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar17.06Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExercisePriceDollar17.06Member" xml:lang="en-US" id="label_ExercisePriceDollar17.06Member_2">$ 17.06 per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar17.06Member" xlink:to="label_ExercisePriceDollar17.06Member_2" xlink:title="label: ExercisePriceDollar17.06Member to label_ExercisePriceDollar17.06Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar17.06Member_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExercisePriceDollar17.06Member" xml:lang="en-US" id="label_ExercisePriceDollar17.06Member_3">Exercise Price Dollar 17.06 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar17.06Member" xlink:to="label_ExercisePriceDollar17.06Member_3" xlink:title="label: ExercisePriceDollar17.06Member to label_ExercisePriceDollar17.06Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ExercisePriceDollar18.34Member" xlink:label="ExercisePriceDollar18.34Member" xlink:title="ExercisePriceDollar18.34Member" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar18.34Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExercisePriceDollar18.34Member" xml:lang="en-US" id="label_ExercisePriceDollar18.34Member">Represents the information pertaining to the stock awards granted at 18.34 dollar per share.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar18.34Member" xlink:to="label_ExercisePriceDollar18.34Member" xlink:title="label: ExercisePriceDollar18.34Member to label_ExercisePriceDollar18.34Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar18.34Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExercisePriceDollar18.34Member" xml:lang="en-US" id="label_ExercisePriceDollar18.34Member_2">$ 18.34 per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar18.34Member" xlink:to="label_ExercisePriceDollar18.34Member_2" xlink:title="label: ExercisePriceDollar18.34Member to label_ExercisePriceDollar18.34Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar18.34Member_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExercisePriceDollar18.34Member" xml:lang="en-US" id="label_ExercisePriceDollar18.34Member_3">Exercise Price Dollar 18.34 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar18.34Member" xlink:to="label_ExercisePriceDollar18.34Member_3" xlink:title="label: ExercisePriceDollar18.34Member to label_ExercisePriceDollar18.34Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ExercisePriceDollar24.65Member" xlink:label="ExercisePriceDollar24.65Member" xlink:title="ExercisePriceDollar24.65Member" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar24.65Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExercisePriceDollar24.65Member" xml:lang="en-US" id="label_ExercisePriceDollar24.65Member">Represents the information pertaining to the stock awards granted at 24.65 dollar per share.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar24.65Member" xlink:to="label_ExercisePriceDollar24.65Member" xlink:title="label: ExercisePriceDollar24.65Member to label_ExercisePriceDollar24.65Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar24.65Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExercisePriceDollar24.65Member" xml:lang="en-US" id="label_ExercisePriceDollar24.65Member_2">$ 24.65 per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar24.65Member" xlink:to="label_ExercisePriceDollar24.65Member_2" xlink:title="label: ExercisePriceDollar24.65Member to label_ExercisePriceDollar24.65Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar24.65Member_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExercisePriceDollar24.65Member" xml:lang="en-US" id="label_ExercisePriceDollar24.65Member_3">Exercise Price Dollar 24.65 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar24.65Member" xlink:to="label_ExercisePriceDollar24.65Member_3" xlink:title="label: ExercisePriceDollar24.65Member to label_ExercisePriceDollar24.65Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ExercisePriceDollar25.04Member" xlink:label="ExercisePriceDollar25.04Member" xlink:title="ExercisePriceDollar25.04Member" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar25.04Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExercisePriceDollar25.04Member" xml:lang="en-US" id="label_ExercisePriceDollar25.04Member">Represents the information pertaining to the stock awards granted at 25.04 dollar per share.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar25.04Member" xlink:to="label_ExercisePriceDollar25.04Member" xlink:title="label: ExercisePriceDollar25.04Member to label_ExercisePriceDollar25.04Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar25.04Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExercisePriceDollar25.04Member" xml:lang="en-US" id="label_ExercisePriceDollar25.04Member_2">$ 25.04 per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar25.04Member" xlink:to="label_ExercisePriceDollar25.04Member_2" xlink:title="label: ExercisePriceDollar25.04Member to label_ExercisePriceDollar25.04Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar25.04Member_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExercisePriceDollar25.04Member" xml:lang="en-US" id="label_ExercisePriceDollar25.04Member_3">Exercise Price Dollar 25.04 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar25.04Member" xlink:to="label_ExercisePriceDollar25.04Member_3" xlink:title="label: ExercisePriceDollar25.04Member to label_ExercisePriceDollar25.04Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ExercisePriceDollar25.95Member" xlink:label="ExercisePriceDollar25.95Member" xlink:title="ExercisePriceDollar25.95Member" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar25.95Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExercisePriceDollar25.95Member" xml:lang="en-US" id="label_ExercisePriceDollar25.95Member">Represents the information pertaining to the stock awards granted at 25.95 dollar per share.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar25.95Member" xlink:to="label_ExercisePriceDollar25.95Member" xlink:title="label: ExercisePriceDollar25.95Member to label_ExercisePriceDollar25.95Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar25.95Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExercisePriceDollar25.95Member" xml:lang="en-US" id="label_ExercisePriceDollar25.95Member_2">$ 25.95 per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar25.95Member" xlink:to="label_ExercisePriceDollar25.95Member_2" xlink:title="label: ExercisePriceDollar25.95Member to label_ExercisePriceDollar25.95Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar25.95Member_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExercisePriceDollar25.95Member" xml:lang="en-US" id="label_ExercisePriceDollar25.95Member_3">Exercise Price Dollar 25.95 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar25.95Member" xlink:to="label_ExercisePriceDollar25.95Member_3" xlink:title="label: ExercisePriceDollar25.95Member to label_ExercisePriceDollar25.95Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ExercisePriceDollar26.53Member" xlink:label="ExercisePriceDollar26.53Member" xlink:title="ExercisePriceDollar26.53Member" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar26.53Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExercisePriceDollar26.53Member" xml:lang="en-US" id="label_ExercisePriceDollar26.53Member">Represents the information pertaining to the stock awards granted at 26.53 dollar per share.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar26.53Member" xlink:to="label_ExercisePriceDollar26.53Member" xlink:title="label: ExercisePriceDollar26.53Member to label_ExercisePriceDollar26.53Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar26.53Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExercisePriceDollar26.53Member" xml:lang="en-US" id="label_ExercisePriceDollar26.53Member_2">$ 26.53 per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar26.53Member" xlink:to="label_ExercisePriceDollar26.53Member_2" xlink:title="label: ExercisePriceDollar26.53Member to label_ExercisePriceDollar26.53Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar26.53Member_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExercisePriceDollar26.53Member" xml:lang="en-US" id="label_ExercisePriceDollar26.53Member_3">Exercise Price Dollar 26.53 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar26.53Member" xlink:to="label_ExercisePriceDollar26.53Member_3" xlink:title="label: ExercisePriceDollar26.53Member to label_ExercisePriceDollar26.53Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ExercisePriceDollar28.70Member" xlink:label="ExercisePriceDollar28.70Member" xlink:title="ExercisePriceDollar28.70Member" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar28.70Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExercisePriceDollar28.70Member" xml:lang="en-US" id="label_ExercisePriceDollar28.70Member">$ 28.70 per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar28.70Member" xlink:to="label_ExercisePriceDollar28.70Member" xlink:title="label: ExercisePriceDollar28.70Member to label_ExercisePriceDollar28.70Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar28.70Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExercisePriceDollar28.70Member" xml:lang="en-US" id="label_ExercisePriceDollar28.70Member_2">Exercise Price Dollar 28.70 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar28.70Member" xlink:to="label_ExercisePriceDollar28.70Member_2" xlink:title="label: ExercisePriceDollar28.70Member to label_ExercisePriceDollar28.70Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar28.70Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExercisePriceDollar28.70Member" xml:lang="en-US" id="label_ExercisePriceDollar28.70Member_3">Represents information pertaining to the stock awards granted at 28.70 dollar per share.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar28.70Member" xlink:to="label_ExercisePriceDollar28.70Member_3" xlink:title="label: ExercisePriceDollar28.70Member to label_ExercisePriceDollar28.70Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ExercisePriceDollar26.59Member" xlink:label="ExercisePriceDollar26.59Member" xlink:title="ExercisePriceDollar26.59Member" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar26.59Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExercisePriceDollar26.59Member" xml:lang="en-US" id="label_ExercisePriceDollar26.59Member">Represents the information pertaining to the stock awards granted at 26.59 dollar per share.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar26.59Member" xlink:to="label_ExercisePriceDollar26.59Member" xlink:title="label: ExercisePriceDollar26.59Member to label_ExercisePriceDollar26.59Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar26.59Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExercisePriceDollar26.59Member" xml:lang="en-US" id="label_ExercisePriceDollar26.59Member_2">$ 26.59 per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar26.59Member" xlink:to="label_ExercisePriceDollar26.59Member_2" xlink:title="label: ExercisePriceDollar26.59Member to label_ExercisePriceDollar26.59Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar26.59Member_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExercisePriceDollar26.59Member" xml:lang="en-US" id="label_ExercisePriceDollar26.59Member_3">Exercise Price Dollar 26.59 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar26.59Member" xlink:to="label_ExercisePriceDollar26.59Member_3" xlink:title="label: ExercisePriceDollar26.59Member to label_ExercisePriceDollar26.59Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember" xlink:label="ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember" xlink:title="ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember" />
    <link:label xlink:type="resource" xlink:label="label_ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember" xml:lang="en-US" id="label_ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember">Extendicare Inc. and ALC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember" xlink:to="label_ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember" xlink:title="label: ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember to label_ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember" xml:lang="en-US" id="label_ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember_2">Represents the information pertaining to Extendicare REIT and ALC, collectively.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember" xlink:to="label_ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember_2" xlink:title="label: ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember to label_ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember" xml:lang="en-US" id="label_ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember_3">Extendicare Real Estate Investment Trust and Assisted Living Concepts Inc [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember" xlink:to="label_ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember_3" xlink:title="label: ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember to label_ExtendicareRealEstateInvestmentTrustAndAssistedLivingConceptsIncMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ExtendicareRealEstateInvestmentTrustMember" xlink:label="ExtendicareRealEstateInvestmentTrustMember" xlink:title="ExtendicareRealEstateInvestmentTrustMember" />
    <link:label xlink:type="resource" xlink:label="label_ExtendicareRealEstateInvestmentTrustMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExtendicareRealEstateInvestmentTrustMember" xml:lang="en-US" id="label_ExtendicareRealEstateInvestmentTrustMember">Extendicare REIT</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExtendicareRealEstateInvestmentTrustMember" xlink:to="label_ExtendicareRealEstateInvestmentTrustMember" xlink:title="label: ExtendicareRealEstateInvestmentTrustMember to label_ExtendicareRealEstateInvestmentTrustMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExtendicareRealEstateInvestmentTrustMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExtendicareRealEstateInvestmentTrustMember" xml:lang="en-US" id="label_ExtendicareRealEstateInvestmentTrustMember_2">Represents the information pertaining to Extendicare REIT.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExtendicareRealEstateInvestmentTrustMember" xlink:to="label_ExtendicareRealEstateInvestmentTrustMember_2" xlink:title="label: ExtendicareRealEstateInvestmentTrustMember to label_ExtendicareRealEstateInvestmentTrustMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExtendicareRealEstateInvestmentTrustMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExtendicareRealEstateInvestmentTrustMember" xml:lang="en-US" id="label_ExtendicareRealEstateInvestmentTrustMember_3">Extendicare Real Estate Investment Trust [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExtendicareRealEstateInvestmentTrustMember" xlink:to="label_ExtendicareRealEstateInvestmentTrustMember_3" xlink:title="label: ExtendicareRealEstateInvestmentTrustMember to label_ExtendicareRealEstateInvestmentTrustMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExtendicareRealEstateInvestmentTrustMember_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ExtendicareRealEstateInvestmentTrustMember" xml:lang="en-US" id="label_ExtendicareRealEstateInvestmentTrustMember_4">Extendicare Inc.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExtendicareRealEstateInvestmentTrustMember" xlink:to="label_ExtendicareRealEstateInvestmentTrustMember_4" xlink:title="label: ExtendicareRealEstateInvestmentTrustMember to label_ExtendicareRealEstateInvestmentTrustMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ForthWorthMember" xlink:label="ForthWorthMember" xlink:title="ForthWorthMember" />
    <link:label xlink:type="resource" xlink:label="label_ForthWorthMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ForthWorthMember" xml:lang="en-US" id="label_ForthWorthMember">Represents the information pertaining to Forth Worth.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForthWorthMember" xlink:to="label_ForthWorthMember" xlink:title="label: ForthWorthMember to label_ForthWorthMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ForthWorthMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ForthWorthMember" xml:lang="en-US" id="label_ForthWorthMember_2">Forth Worth [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForthWorthMember" xlink:to="label_ForthWorthMember_2" xlink:title="label: ForthWorthMember to label_ForthWorthMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ForthWorthMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ForthWorthMember" xml:lang="en-US" id="label_ForthWorthMember_3">Forth Worth</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForthWorthMember" xlink:to="label_ForthWorthMember_3" xlink:title="label: ForthWorthMember to label_ForthWorthMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_IncomeLossFromContinuingDiscontinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract" xlink:label="IncomeLossFromContinuingDiscontinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract" xlink:title="IncomeLossFromContinuingDiscontinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract" />
    <link:label xlink:type="resource" xlink:label="label_IncomeLossFromContinuingDiscontinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeLossFromContinuingDiscontinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract" xml:lang="en-US" id="label_IncomeLossFromContinuingDiscontinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract">Income (Loss) from Continuing Discontinuing Operations before Extraordinary Items Per Basic and Diluted Share [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeLossFromContinuingDiscontinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract" xlink:to="label_IncomeLossFromContinuingDiscontinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract" xlink:title="label: IncomeLossFromContinuingDiscontinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract to label_IncomeLossFromContinuingDiscontinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_IncomeLossFromContinuingDiscontinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncomeLossFromContinuingDiscontinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract" xml:lang="en-US" id="label_IncomeLossFromContinuingDiscontinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract_2">Net loss per common share from disconinued operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeLossFromContinuingDiscontinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract" xlink:to="label_IncomeLossFromContinuingDiscontinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract_2" xlink:title="label: IncomeLossFromContinuingDiscontinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract to label_IncomeLossFromContinuingDiscontinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_IncomeLossFromContinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract" xlink:label="IncomeLossFromContinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract" xlink:title="IncomeLossFromContinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract" />
    <link:label xlink:type="resource" xlink:label="label_IncomeLossFromContinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeLossFromContinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract" xml:lang="en-US" id="label_IncomeLossFromContinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract">Income (Loss) from Continuing Operations before Extraordinary Items Per Basic and Diluted Share [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeLossFromContinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract" xlink:to="label_IncomeLossFromContinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract" xlink:title="label: IncomeLossFromContinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract to label_IncomeLossFromContinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_IncomeLossFromContinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncomeLossFromContinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract" xml:lang="en-US" id="label_IncomeLossFromContinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract_2">Net income per common share from continuing operations available to common stockholders:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeLossFromContinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract" xlink:to="label_IncomeLossFromContinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract_2" xlink:title="label: IncomeLossFromContinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract to label_IncomeLossFromContinuingOperationsBeforeExtraordinaryItemsPerBasicAndDilutedShareAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_IncomeTaxesAbstract" xlink:label="IncomeTaxesAbstract" xlink:title="IncomeTaxesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeTaxesAbstract" xml:lang="en-US" id="label_IncomeTaxesAbstract">Income Taxes [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxesAbstract" xlink:to="label_IncomeTaxesAbstract" xlink:title="label: IncomeTaxesAbstract to label_IncomeTaxesAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxesAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncomeTaxesAbstract" xml:lang="en-US" id="label_IncomeTaxesAbstract_2">Federal Income Taxes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxesAbstract" xlink:to="label_IncomeTaxesAbstract_2" xlink:title="label: IncomeTaxesAbstract to label_IncomeTaxesAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_IncreaseDecreaseInAccountsReceivableDueFromRelatedParties" xlink:label="IncreaseDecreaseInAccountsReceivableDueFromRelatedParties" xlink:title="IncreaseDecreaseInAccountsReceivableDueFromRelatedParties" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInAccountsReceivableDueFromRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseInAccountsReceivableDueFromRelatedParties" xml:lang="en-US" id="label_IncreaseDecreaseInAccountsReceivableDueFromRelatedParties">Increase (Decrease) in Accounts Receivable Due from Related Parties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInAccountsReceivableDueFromRelatedParties" xlink:to="label_IncreaseDecreaseInAccountsReceivableDueFromRelatedParties" xlink:title="label: IncreaseDecreaseInAccountsReceivableDueFromRelatedParties to label_IncreaseDecreaseInAccountsReceivableDueFromRelatedParties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInAccountsReceivableDueFromRelatedParties_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseDecreaseInAccountsReceivableDueFromRelatedParties" xml:lang="en-US" id="label_IncreaseDecreaseInAccountsReceivableDueFromRelatedParties_2">This element represents the net change during the reporting period in amount due within one year (or one business cycle) from related parties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInAccountsReceivableDueFromRelatedParties" xlink:to="label_IncreaseDecreaseInAccountsReceivableDueFromRelatedParties_2" xlink:title="label: IncreaseDecreaseInAccountsReceivableDueFromRelatedParties to label_IncreaseDecreaseInAccountsReceivableDueFromRelatedParties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInAccountsReceivableDueFromRelatedParties_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseInAccountsReceivableDueFromRelatedParties" xml:lang="en-US" id="label_IncreaseDecreaseInAccountsReceivableDueFromRelatedParties_3">Straight-line rental income from a lessee that qualifies as a related party</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInAccountsReceivableDueFromRelatedParties" xlink:to="label_IncreaseDecreaseInAccountsReceivableDueFromRelatedParties_3" xlink:title="label: IncreaseDecreaseInAccountsReceivableDueFromRelatedParties to label_IncreaseDecreaseInAccountsReceivableDueFromRelatedParties" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_IndependentLivingFacilityUnitsMember" xlink:label="IndependentLivingFacilityUnitsMember" xlink:title="IndependentLivingFacilityUnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_IndependentLivingFacilityUnitsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IndependentLivingFacilityUnitsMember" xml:lang="en-US" id="label_IndependentLivingFacilityUnitsMember">ILF Units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndependentLivingFacilityUnitsMember" xlink:to="label_IndependentLivingFacilityUnitsMember" xlink:title="label: IndependentLivingFacilityUnitsMember to label_IndependentLivingFacilityUnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_IndependentLivingFacilityUnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IndependentLivingFacilityUnitsMember" xml:lang="en-US" id="label_IndependentLivingFacilityUnitsMember_2">Represents information pertaining to independent living facility units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndependentLivingFacilityUnitsMember" xlink:to="label_IndependentLivingFacilityUnitsMember_2" xlink:title="label: IndependentLivingFacilityUnitsMember to label_IndependentLivingFacilityUnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_IndependentLivingFacilityUnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IndependentLivingFacilityUnitsMember" xml:lang="en-US" id="label_IndependentLivingFacilityUnitsMember_3">Independent Living Facility Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndependentLivingFacilityUnitsMember" xlink:to="label_IndependentLivingFacilityUnitsMember_3" xlink:title="label: IndependentLivingFacilityUnitsMember to label_IndependentLivingFacilityUnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="AdditionalPaidInCapital" xlink:title="AdditionalPaidInCapital" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalPaidInCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdditionalPaidInCapital" xml:lang="en-US" id="label_AdditionalPaidInCapital">Additional Paid in Capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalPaidInCapital" xlink:to="label_AdditionalPaidInCapital" xlink:title="label: AdditionalPaidInCapital to label_AdditionalPaidInCapital" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalPaidInCapital_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdditionalPaidInCapital" xml:lang="en-US" id="label_AdditionalPaidInCapital_2">Capital in excess of par value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalPaidInCapital" xlink:to="label_AdditionalPaidInCapital_2" xlink:title="label: AdditionalPaidInCapital to label_AdditionalPaidInCapital" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MemoryCarePropertyWith60UnitsMember" xlink:label="MemoryCarePropertyWith60UnitsMember" xlink:title="MemoryCarePropertyWith60UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_MemoryCarePropertyWith60UnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MemoryCarePropertyWith60UnitsMember" xml:lang="en-US" id="label_MemoryCarePropertyWith60UnitsMember">Memory Care Property with 60 Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MemoryCarePropertyWith60UnitsMember" xlink:to="label_MemoryCarePropertyWith60UnitsMember" xlink:title="label: MemoryCarePropertyWith60UnitsMember to label_MemoryCarePropertyWith60UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MemoryCarePropertyWith60UnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MemoryCarePropertyWith60UnitsMember" xml:lang="en-US" id="label_MemoryCarePropertyWith60UnitsMember_2">60-units memory care properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MemoryCarePropertyWith60UnitsMember" xlink:to="label_MemoryCarePropertyWith60UnitsMember_2" xlink:title="label: MemoryCarePropertyWith60UnitsMember to label_MemoryCarePropertyWith60UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MemoryCarePropertyWith60UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MemoryCarePropertyWith60UnitsMember" xml:lang="en-US" id="label_MemoryCarePropertyWith60UnitsMember_3">Represents information pertaining to memory care properties comprising of 60 units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MemoryCarePropertyWith60UnitsMember" xlink:to="label_MemoryCarePropertyWith60UnitsMember_3" xlink:title="label: MemoryCarePropertyWith60UnitsMember to label_MemoryCarePropertyWith60UnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_InvestmentBuildingAndBuildingImprovementsAccumulatedDepreciation" xlink:label="InvestmentBuildingAndBuildingImprovementsAccumulatedDepreciation" xlink:title="InvestmentBuildingAndBuildingImprovementsAccumulatedDepreciation" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentBuildingAndBuildingImprovementsAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentBuildingAndBuildingImprovementsAccumulatedDepreciation" xml:lang="en-US" id="label_InvestmentBuildingAndBuildingImprovementsAccumulatedDepreciation">Investment Building and Building Improvements Accumulated Depreciation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentBuildingAndBuildingImprovementsAccumulatedDepreciation" xlink:to="label_InvestmentBuildingAndBuildingImprovementsAccumulatedDepreciation" xlink:title="label: InvestmentBuildingAndBuildingImprovementsAccumulatedDepreciation to label_InvestmentBuildingAndBuildingImprovementsAccumulatedDepreciation" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentBuildingAndBuildingImprovementsAccumulatedDepreciation_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InvestmentBuildingAndBuildingImprovementsAccumulatedDepreciation" xml:lang="en-US" id="label_InvestmentBuildingAndBuildingImprovementsAccumulatedDepreciation_2">This element represents the cumulative amount of depreciation for real estate building and building improvements held for investment purposes.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentBuildingAndBuildingImprovementsAccumulatedDepreciation" xlink:to="label_InvestmentBuildingAndBuildingImprovementsAccumulatedDepreciation_2" xlink:title="label: InvestmentBuildingAndBuildingImprovementsAccumulatedDepreciation to label_InvestmentBuildingAndBuildingImprovementsAccumulatedDepreciation" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentBuildingAndBuildingImprovementsAccumulatedDepreciation_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentBuildingAndBuildingImprovementsAccumulatedDepreciation" xml:lang="en-US" id="label_InvestmentBuildingAndBuildingImprovementsAccumulatedDepreciation_3">Buildings and improvements, accumulated depreciation and amortization (in dollars)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentBuildingAndBuildingImprovementsAccumulatedDepreciation" xlink:to="label_InvestmentBuildingAndBuildingImprovementsAccumulatedDepreciation_3" xlink:title="label: InvestmentBuildingAndBuildingImprovementsAccumulatedDepreciation to label_InvestmentBuildingAndBuildingImprovementsAccumulatedDepreciation" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_InvestmentInRealEstatePropertiesAndCapitalImprovementsNet" xlink:label="InvestmentInRealEstatePropertiesAndCapitalImprovementsNet" xlink:title="InvestmentInRealEstatePropertiesAndCapitalImprovementsNet" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentInRealEstatePropertiesAndCapitalImprovementsNet" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_InvestmentInRealEstatePropertiesAndCapitalImprovementsNet" xml:lang="en-US" id="label_InvestmentInRealEstatePropertiesAndCapitalImprovementsNet">Investment in real estate properties and capital improvements, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentInRealEstatePropertiesAndCapitalImprovementsNet" xlink:to="label_InvestmentInRealEstatePropertiesAndCapitalImprovementsNet" xlink:title="label: InvestmentInRealEstatePropertiesAndCapitalImprovementsNet to label_InvestmentInRealEstatePropertiesAndCapitalImprovementsNet" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentInRealEstatePropertiesAndCapitalImprovementsNet_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InvestmentInRealEstatePropertiesAndCapitalImprovementsNet" xml:lang="en-US" id="label_InvestmentInRealEstatePropertiesAndCapitalImprovementsNet_2">The cash outflow from the acquisition of a piece of land, anything permanently fixed to it, including buildings, structures on it and so forth; includes real estate intended to generate income for the owner; excludes real estate acquired for use by the owner and the cash outflow for acquisition of or capital improvements to properties held for investment (operating, managed, leased).</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentInRealEstatePropertiesAndCapitalImprovementsNet" xlink:to="label_InvestmentInRealEstatePropertiesAndCapitalImprovementsNet_2" xlink:title="label: InvestmentInRealEstatePropertiesAndCapitalImprovementsNet to label_InvestmentInRealEstatePropertiesAndCapitalImprovementsNet" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentInRealEstatePropertiesAndCapitalImprovementsNet_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentInRealEstatePropertiesAndCapitalImprovementsNet" xml:lang="en-US" id="label_InvestmentInRealEstatePropertiesAndCapitalImprovementsNet_3">Investment in Real Estate Properties and Capital Improvements, Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentInRealEstatePropertiesAndCapitalImprovementsNet" xlink:to="label_InvestmentInRealEstatePropertiesAndCapitalImprovementsNet_3" xlink:title="label: InvestmentInRealEstatePropertiesAndCapitalImprovementsNet to label_InvestmentInRealEstatePropertiesAndCapitalImprovementsNet" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_InvestmentsWithRelatedParties" xlink:label="InvestmentsWithRelatedParties" xlink:title="InvestmentsWithRelatedParties" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsWithRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentsWithRelatedParties" xml:lang="en-US" id="label_InvestmentsWithRelatedParties">Investments with Related Parties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsWithRelatedParties" xlink:to="label_InvestmentsWithRelatedParties" xlink:title="label: InvestmentsWithRelatedParties to label_InvestmentsWithRelatedParties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsWithRelatedParties_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InvestmentsWithRelatedParties" xml:lang="en-US" id="label_InvestmentsWithRelatedParties_2">This element represents sum of the carrying amounts as of the balance sheet date of current and noncurrent investments with an entity that qualifies as a related party.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsWithRelatedParties" xlink:to="label_InvestmentsWithRelatedParties_2" xlink:title="label: InvestmentsWithRelatedParties to label_InvestmentsWithRelatedParties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsWithRelatedParties_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentsWithRelatedParties" xml:lang="en-US" id="label_InvestmentsWithRelatedParties_3">Marketable securities issued by an entity that qualifies as a related party (in dollars)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsWithRelatedParties" xlink:to="label_InvestmentsWithRelatedParties_3" xlink:title="label: InvestmentsWithRelatedParties to label_InvestmentsWithRelatedParties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsWithRelatedParties_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_InvestmentsWithRelatedParties" xml:lang="en-US" id="label_InvestmentsWithRelatedParties_4">Remaining investment in senior subordinated notes of related party</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsWithRelatedParties" xlink:to="label_InvestmentsWithRelatedParties_4" xlink:title="label: InvestmentsWithRelatedParties to label_InvestmentsWithRelatedParties" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_InvestmentsWithRelatedPartiesInterestEffectiveRate" xlink:label="InvestmentsWithRelatedPartiesInterestEffectiveRate" xlink:title="InvestmentsWithRelatedPartiesInterestEffectiveRate" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsWithRelatedPartiesInterestEffectiveRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InvestmentsWithRelatedPartiesInterestEffectiveRate" xml:lang="en-US" id="label_InvestmentsWithRelatedPartiesInterestEffectiveRate">Represents the face rate on an investment with an entity that qualifies as a related party.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsWithRelatedPartiesInterestEffectiveRate" xlink:to="label_InvestmentsWithRelatedPartiesInterestEffectiveRate" xlink:title="label: InvestmentsWithRelatedPartiesInterestEffectiveRate to label_InvestmentsWithRelatedPartiesInterestEffectiveRate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsWithRelatedPartiesInterestEffectiveRate_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentsWithRelatedPartiesInterestEffectiveRate" xml:lang="en-US" id="label_InvestmentsWithRelatedPartiesInterestEffectiveRate_2">Investments with Related Parties, Interest, Effective Rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsWithRelatedPartiesInterestEffectiveRate" xlink:to="label_InvestmentsWithRelatedPartiesInterestEffectiveRate_2" xlink:title="label: InvestmentsWithRelatedPartiesInterestEffectiveRate to label_InvestmentsWithRelatedPartiesInterestEffectiveRate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsWithRelatedPartiesInterestEffectiveRate_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentsWithRelatedPartiesInterestEffectiveRate" xml:lang="en-US" id="label_InvestmentsWithRelatedPartiesInterestEffectiveRate_3">Effective yield on senior subordinated notes (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsWithRelatedPartiesInterestEffectiveRate" xlink:to="label_InvestmentsWithRelatedPartiesInterestEffectiveRate_3" xlink:title="label: InvestmentsWithRelatedPartiesInterestEffectiveRate to label_InvestmentsWithRelatedPartiesInterestEffectiveRate" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="AdditionalPaidInCapitalMember" xlink:title="AdditionalPaidInCapitalMember" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalPaidInCapitalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdditionalPaidInCapitalMember" xml:lang="en-US" id="label_AdditionalPaidInCapitalMember">Additional Paid-in Capital [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalPaidInCapitalMember" xlink:to="label_AdditionalPaidInCapitalMember" xlink:title="label: AdditionalPaidInCapitalMember to label_AdditionalPaidInCapitalMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalPaidInCapitalMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdditionalPaidInCapitalMember" xml:lang="en-US" id="label_AdditionalPaidInCapitalMember_2">Capital in Excess of Par Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalPaidInCapitalMember" xlink:to="label_AdditionalPaidInCapitalMember_2" xlink:title="label: AdditionalPaidInCapitalMember to label_AdditionalPaidInCapitalMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate" xlink:label="MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate" xlink:title="MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate" />
    <link:label xlink:type="resource" xlink:label="label_MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate" xml:lang="en-US" id="label_MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate">Marketable Securities with Related Parties, Interest Effective Rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate" xlink:to="label_MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate" xlink:title="label: MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate to label_MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate" xml:lang="en-US" id="label_MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate_2">Effective yield on senior subordinated notes (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate" xlink:to="label_MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate_2" xlink:title="label: MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate to label_MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate" xml:lang="en-US" id="label_MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate_3">Represents the effective yield on a marketable security with a related party.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate" xlink:to="label_MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate_3" xlink:title="label: MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate to label_MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MarketableSecuritiesWithRelatedParties" xlink:label="MarketableSecuritiesWithRelatedParties" xlink:title="MarketableSecuritiesWithRelatedParties" />
    <link:label xlink:type="resource" xlink:label="label_MarketableSecuritiesWithRelatedParties" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MarketableSecuritiesWithRelatedParties" xml:lang="en-US" id="label_MarketableSecuritiesWithRelatedParties">This element represents sum of the carrying amounts as of the balance sheet date of current and noncurrent marketable securities with related party.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketableSecuritiesWithRelatedParties" xlink:to="label_MarketableSecuritiesWithRelatedParties" xlink:title="label: MarketableSecuritiesWithRelatedParties to label_MarketableSecuritiesWithRelatedParties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MarketableSecuritiesWithRelatedParties_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MarketableSecuritiesWithRelatedParties" xml:lang="en-US" id="label_MarketableSecuritiesWithRelatedParties_2">Marketable Securities with Related Parties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketableSecuritiesWithRelatedParties" xlink:to="label_MarketableSecuritiesWithRelatedParties_2" xlink:title="label: MarketableSecuritiesWithRelatedParties to label_MarketableSecuritiesWithRelatedParties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MarketableSecuritiesWithRelatedParties_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MarketableSecuritiesWithRelatedParties" xml:lang="en-US" id="label_MarketableSecuritiesWithRelatedParties_3">Investment in senior subordinated notes of related party</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketableSecuritiesWithRelatedParties" xlink:to="label_MarketableSecuritiesWithRelatedParties_3" xlink:title="label: MarketableSecuritiesWithRelatedParties to label_MarketableSecuritiesWithRelatedParties" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_InvestmentsWithRelatedPartiesInterestFaceRate" xlink:label="InvestmentsWithRelatedPartiesInterestFaceRate" xlink:title="InvestmentsWithRelatedPartiesInterestFaceRate" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsWithRelatedPartiesInterestFaceRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentsWithRelatedPartiesInterestFaceRate" xml:lang="en-US" id="label_InvestmentsWithRelatedPartiesInterestFaceRate">Investments with Related Parties, Interest, Face Rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsWithRelatedPartiesInterestFaceRate" xlink:to="label_InvestmentsWithRelatedPartiesInterestFaceRate" xlink:title="label: InvestmentsWithRelatedPartiesInterestFaceRate to label_InvestmentsWithRelatedPartiesInterestFaceRate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsWithRelatedPartiesInterestFaceRate_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentsWithRelatedPartiesInterestFaceRate" xml:lang="en-US" id="label_InvestmentsWithRelatedPartiesInterestFaceRate_2">Face rate of senior subordinated notes (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsWithRelatedPartiesInterestFaceRate" xlink:to="label_InvestmentsWithRelatedPartiesInterestFaceRate_2" xlink:title="label: InvestmentsWithRelatedPartiesInterestFaceRate to label_InvestmentsWithRelatedPartiesInterestFaceRate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsWithRelatedPartiesInterestFaceRate_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InvestmentsWithRelatedPartiesInterestFaceRate" xml:lang="en-US" id="label_InvestmentsWithRelatedPartiesInterestFaceRate_3">Represents the face rate on an investment with an entity that qualifies as a related party.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsWithRelatedPartiesInterestFaceRate" xlink:to="label_InvestmentsWithRelatedPartiesInterestFaceRate_3" xlink:title="label: InvestmentsWithRelatedPartiesInterestFaceRate to label_InvestmentsWithRelatedPartiesInterestFaceRate" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MarketableSecuritiesWithRelatedPartiesInterestFaceRate" xlink:label="MarketableSecuritiesWithRelatedPartiesInterestFaceRate" xlink:title="MarketableSecuritiesWithRelatedPartiesInterestFaceRate" />
    <link:label xlink:type="resource" xlink:label="label_MarketableSecuritiesWithRelatedPartiesInterestFaceRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MarketableSecuritiesWithRelatedPartiesInterestFaceRate" xml:lang="en-US" id="label_MarketableSecuritiesWithRelatedPartiesInterestFaceRate">Marketable Securities with Related Parties, Interest Face Rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketableSecuritiesWithRelatedPartiesInterestFaceRate" xlink:to="label_MarketableSecuritiesWithRelatedPartiesInterestFaceRate" xlink:title="label: MarketableSecuritiesWithRelatedPartiesInterestFaceRate to label_MarketableSecuritiesWithRelatedPartiesInterestFaceRate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MarketableSecuritiesWithRelatedPartiesInterestFaceRate_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MarketableSecuritiesWithRelatedPartiesInterestFaceRate" xml:lang="en-US" id="label_MarketableSecuritiesWithRelatedPartiesInterestFaceRate_2">Face rate of senior subordinated notes (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketableSecuritiesWithRelatedPartiesInterestFaceRate" xlink:to="label_MarketableSecuritiesWithRelatedPartiesInterestFaceRate_2" xlink:title="label: MarketableSecuritiesWithRelatedPartiesInterestFaceRate to label_MarketableSecuritiesWithRelatedPartiesInterestFaceRate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MarketableSecuritiesWithRelatedPartiesInterestFaceRate_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MarketableSecuritiesWithRelatedPartiesInterestFaceRate" xml:lang="en-US" id="label_MarketableSecuritiesWithRelatedPartiesInterestFaceRate_3">Represents the face rate on a marketable security with a related party.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketableSecuritiesWithRelatedPartiesInterestFaceRate" xlink:to="label_MarketableSecuritiesWithRelatedPartiesInterestFaceRate_3" xlink:title="label: MarketableSecuritiesWithRelatedPartiesInterestFaceRate to label_MarketableSecuritiesWithRelatedPartiesInterestFaceRate" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_InvestmentsWithRelatedPartiesInvestmentPurchased" xlink:label="InvestmentsWithRelatedPartiesInvestmentPurchased" xlink:title="InvestmentsWithRelatedPartiesInvestmentPurchased" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsWithRelatedPartiesInvestmentPurchased" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InvestmentsWithRelatedPartiesInvestmentPurchased" xml:lang="en-US" id="label_InvestmentsWithRelatedPartiesInvestmentPurchased">Represents the investment purchased with an entity that qualifies as a related party.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsWithRelatedPartiesInvestmentPurchased" xlink:to="label_InvestmentsWithRelatedPartiesInvestmentPurchased" xlink:title="label: InvestmentsWithRelatedPartiesInvestmentPurchased to label_InvestmentsWithRelatedPartiesInvestmentPurchased" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsWithRelatedPartiesInvestmentPurchased_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentsWithRelatedPartiesInvestmentPurchased" xml:lang="en-US" id="label_InvestmentsWithRelatedPartiesInvestmentPurchased_2">Investments with Related Parties, Investment Purchased</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsWithRelatedPartiesInvestmentPurchased" xlink:to="label_InvestmentsWithRelatedPartiesInvestmentPurchased_2" xlink:title="label: InvestmentsWithRelatedPartiesInvestmentPurchased to label_InvestmentsWithRelatedPartiesInvestmentPurchased" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsWithRelatedPartiesInvestmentPurchased_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentsWithRelatedPartiesInvestmentPurchased" xml:lang="en-US" id="label_InvestmentsWithRelatedPartiesInvestmentPurchased_3">Senior subordinated notes purchased in open market</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsWithRelatedPartiesInvestmentPurchased" xlink:to="label_InvestmentsWithRelatedPartiesInvestmentPurchased_3" xlink:title="label: InvestmentsWithRelatedPartiesInvestmentPurchased to label_InvestmentsWithRelatedPartiesInvestmentPurchased" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LaurelHealthcareMember" xlink:label="LaurelHealthcareMember" xlink:title="LaurelHealthcareMember" />
    <link:label xlink:type="resource" xlink:label="label_LaurelHealthcareMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LaurelHealthcareMember" xml:lang="en-US" id="label_LaurelHealthcareMember">Represents Laurel Healthcare, an indirect related party to the reporting entity, asset of which has been purchased by Skilled Healthcare Group, a related party to the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaurelHealthcareMember" xlink:to="label_LaurelHealthcareMember" xlink:title="label: LaurelHealthcareMember to label_LaurelHealthcareMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LaurelHealthcareMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaurelHealthcareMember" xml:lang="en-US" id="label_LaurelHealthcareMember_2">Laurel</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaurelHealthcareMember" xlink:to="label_LaurelHealthcareMember_2" xlink:title="label: LaurelHealthcareMember to label_LaurelHealthcareMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LaurelHealthcareMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LaurelHealthcareMember" xml:lang="en-US" id="label_LaurelHealthcareMember_3">Laurel Healthcare [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaurelHealthcareMember" xlink:to="label_LaurelHealthcareMember_3" xlink:title="label: LaurelHealthcareMember to label_LaurelHealthcareMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LeaseAgreementAnnualEscalation" xlink:label="LeaseAgreementAnnualEscalation" xlink:title="LeaseAgreementAnnualEscalation" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementAnnualEscalation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeaseAgreementAnnualEscalation" xml:lang="en-US" id="label_LeaseAgreementAnnualEscalation">Lease Agreement, Annual Escalation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementAnnualEscalation" xlink:to="label_LeaseAgreementAnnualEscalation" xlink:title="label: LeaseAgreementAnnualEscalation to label_LeaseAgreementAnnualEscalation" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementAnnualEscalation_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LeaseAgreementAnnualEscalation" xml:lang="en-US" id="label_LeaseAgreementAnnualEscalation_2">Represents the percentage annual escalation under the lease.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementAnnualEscalation" xlink:to="label_LeaseAgreementAnnualEscalation_2" xlink:title="label: LeaseAgreementAnnualEscalation to label_LeaseAgreementAnnualEscalation" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementAnnualEscalation_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeaseAgreementAnnualEscalation" xml:lang="en-US" id="label_LeaseAgreementAnnualEscalation_3">Annual escalation under lease (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementAnnualEscalation" xlink:to="label_LeaseAgreementAnnualEscalation_3" xlink:title="label: LeaseAgreementAnnualEscalation to label_LeaseAgreementAnnualEscalation" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LeaseAgreementAnnualEscalationForFirstSevenYears" xlink:label="LeaseAgreementAnnualEscalationForFirstSevenYears" xlink:title="LeaseAgreementAnnualEscalationForFirstSevenYears" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementAnnualEscalationForFirstSevenYears" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LeaseAgreementAnnualEscalationForFirstSevenYears" xml:lang="en-US" id="label_LeaseAgreementAnnualEscalationForFirstSevenYears">Represents the percentage annual escalation under the lease for first seven years.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementAnnualEscalationForFirstSevenYears" xlink:to="label_LeaseAgreementAnnualEscalationForFirstSevenYears" xlink:title="label: LeaseAgreementAnnualEscalationForFirstSevenYears to label_LeaseAgreementAnnualEscalationForFirstSevenYears" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementAnnualEscalationForFirstSevenYears_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeaseAgreementAnnualEscalationForFirstSevenYears" xml:lang="en-US" id="label_LeaseAgreementAnnualEscalationForFirstSevenYears_2">Annual escalation under lease for first seven years (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementAnnualEscalationForFirstSevenYears" xlink:to="label_LeaseAgreementAnnualEscalationForFirstSevenYears_2" xlink:title="label: LeaseAgreementAnnualEscalationForFirstSevenYears to label_LeaseAgreementAnnualEscalationForFirstSevenYears" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementAnnualEscalationForFirstSevenYears_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeaseAgreementAnnualEscalationForFirstSevenYears" xml:lang="en-US" id="label_LeaseAgreementAnnualEscalationForFirstSevenYears_3">Lease Agreement, Annual Escalation for First Seven Years</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementAnnualEscalationForFirstSevenYears" xlink:to="label_LeaseAgreementAnnualEscalationForFirstSevenYears_3" xlink:title="label: LeaseAgreementAnnualEscalationForFirstSevenYears to label_LeaseAgreementAnnualEscalationForFirstSevenYears" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LeaseAgreementAnnualEscalationForRemainderOfLeaseTerm" xlink:label="LeaseAgreementAnnualEscalationForRemainderOfLeaseTerm" xlink:title="LeaseAgreementAnnualEscalationForRemainderOfLeaseTerm" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementAnnualEscalationForRemainderOfLeaseTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeaseAgreementAnnualEscalationForRemainderOfLeaseTerm" xml:lang="en-US" id="label_LeaseAgreementAnnualEscalationForRemainderOfLeaseTerm">Lease Agreement, Annual Escalation for Remainder of Lease Term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementAnnualEscalationForRemainderOfLeaseTerm" xlink:to="label_LeaseAgreementAnnualEscalationForRemainderOfLeaseTerm" xlink:title="label: LeaseAgreementAnnualEscalationForRemainderOfLeaseTerm to label_LeaseAgreementAnnualEscalationForRemainderOfLeaseTerm" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementAnnualEscalationForRemainderOfLeaseTerm_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LeaseAgreementAnnualEscalationForRemainderOfLeaseTerm" xml:lang="en-US" id="label_LeaseAgreementAnnualEscalationForRemainderOfLeaseTerm_2">Represents the percentage annual escalation under the lease for remainder years.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementAnnualEscalationForRemainderOfLeaseTerm" xlink:to="label_LeaseAgreementAnnualEscalationForRemainderOfLeaseTerm_2" xlink:title="label: LeaseAgreementAnnualEscalationForRemainderOfLeaseTerm to label_LeaseAgreementAnnualEscalationForRemainderOfLeaseTerm" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementAnnualEscalationForRemainderOfLeaseTerm_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeaseAgreementAnnualEscalationForRemainderOfLeaseTerm" xml:lang="en-US" id="label_LeaseAgreementAnnualEscalationForRemainderOfLeaseTerm_3">Annual escalation under lease for remainder years (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementAnnualEscalationForRemainderOfLeaseTerm" xlink:to="label_LeaseAgreementAnnualEscalationForRemainderOfLeaseTerm_3" xlink:title="label: LeaseAgreementAnnualEscalationForRemainderOfLeaseTerm to label_LeaseAgreementAnnualEscalationForRemainderOfLeaseTerm" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LeaseAgreementNumberOfRenewalOptions" xlink:label="LeaseAgreementNumberOfRenewalOptions" xlink:title="LeaseAgreementNumberOfRenewalOptions" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementNumberOfRenewalOptions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeaseAgreementNumberOfRenewalOptions" xml:lang="en-US" id="label_LeaseAgreementNumberOfRenewalOptions">Lease Agreement, Number of Renewal Options</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementNumberOfRenewalOptions" xlink:to="label_LeaseAgreementNumberOfRenewalOptions" xlink:title="label: LeaseAgreementNumberOfRenewalOptions to label_LeaseAgreementNumberOfRenewalOptions" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementNumberOfRenewalOptions_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeaseAgreementNumberOfRenewalOptions" xml:lang="en-US" id="label_LeaseAgreementNumberOfRenewalOptions_2">Number of renewal options</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementNumberOfRenewalOptions" xlink:to="label_LeaseAgreementNumberOfRenewalOptions_2" xlink:title="label: LeaseAgreementNumberOfRenewalOptions to label_LeaseAgreementNumberOfRenewalOptions" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementNumberOfRenewalOptions_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LeaseAgreementNumberOfRenewalOptions" xml:lang="en-US" id="label_LeaseAgreementNumberOfRenewalOptions_3">Represents the number of renewal options under the lease agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementNumberOfRenewalOptions" xlink:to="label_LeaseAgreementNumberOfRenewalOptions_3" xlink:title="label: LeaseAgreementNumberOfRenewalOptions to label_LeaseAgreementNumberOfRenewalOptions" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LeaseAgreementRenewalOptionsPeriod" xlink:label="LeaseAgreementRenewalOptionsPeriod" xlink:title="LeaseAgreementRenewalOptionsPeriod" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementRenewalOptionsPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeaseAgreementRenewalOptionsPeriod" xml:lang="en-US" id="label_LeaseAgreementRenewalOptionsPeriod">Lease Agreement, Renewal Options Period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementRenewalOptionsPeriod" xlink:to="label_LeaseAgreementRenewalOptionsPeriod" xlink:title="label: LeaseAgreementRenewalOptionsPeriod to label_LeaseAgreementRenewalOptionsPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementRenewalOptionsPeriod_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeaseAgreementRenewalOptionsPeriod" xml:lang="en-US" id="label_LeaseAgreementRenewalOptionsPeriod_2">Renewal options</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementRenewalOptionsPeriod" xlink:to="label_LeaseAgreementRenewalOptionsPeriod_2" xlink:title="label: LeaseAgreementRenewalOptionsPeriod to label_LeaseAgreementRenewalOptionsPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementRenewalOptionsPeriod_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LeaseAgreementRenewalOptionsPeriod" xml:lang="en-US" id="label_LeaseAgreementRenewalOptionsPeriod_3">Represents the period available for renewal options under the lease agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementRenewalOptionsPeriod" xlink:to="label_LeaseAgreementRenewalOptionsPeriod_3" xlink:title="label: LeaseAgreementRenewalOptionsPeriod to label_LeaseAgreementRenewalOptionsPeriod" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LeaseAgreementPeriod" xlink:label="LeaseAgreementPeriod" xlink:title="LeaseAgreementPeriod" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeaseAgreementPeriod" xml:lang="en-US" id="label_LeaseAgreementPeriod">Period of master lease agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementPeriod" xlink:to="label_LeaseAgreementPeriod" xlink:title="label: LeaseAgreementPeriod to label_LeaseAgreementPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementPeriod_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeaseAgreementPeriod" xml:lang="en-US" id="label_LeaseAgreementPeriod_2">Lease Agreement, Period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementPeriod" xlink:to="label_LeaseAgreementPeriod_2" xlink:title="label: LeaseAgreementPeriod to label_LeaseAgreementPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementPeriod_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LeaseAgreementPeriod" xml:lang="en-US" id="label_LeaseAgreementPeriod_3">Represents the period for which lease agreement has been made.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementPeriod" xlink:to="label_LeaseAgreementPeriod_3" xlink:title="label: LeaseAgreementPeriod to label_LeaseAgreementPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementPeriod_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_LeaseAgreementPeriod" xml:lang="en-US" id="label_LeaseAgreementPeriod_4">Period of master lease</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementPeriod" xlink:to="label_LeaseAgreementPeriod_4" xlink:title="label: LeaseAgreementPeriod to label_LeaseAgreementPeriod" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LimitedPartnersCapitalUnitsRedeemed" xlink:label="LimitedPartnersCapitalUnitsRedeemed" xlink:title="LimitedPartnersCapitalUnitsRedeemed" />
    <link:label xlink:type="resource" xlink:label="label_LimitedPartnersCapitalUnitsRedeemed" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LimitedPartnersCapitalUnitsRedeemed" xml:lang="en-US" id="label_LimitedPartnersCapitalUnitsRedeemed">Limited Partners Capital Units Redeemed</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LimitedPartnersCapitalUnitsRedeemed" xlink:to="label_LimitedPartnersCapitalUnitsRedeemed" xlink:title="label: LimitedPartnersCapitalUnitsRedeemed to label_LimitedPartnersCapitalUnitsRedeemed" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LimitedPartnersCapitalUnitsRedeemed_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LimitedPartnersCapitalUnitsRedeemed" xml:lang="en-US" id="label_LimitedPartnersCapitalUnitsRedeemed_2">Number of limited partner capital units redeemed during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LimitedPartnersCapitalUnitsRedeemed" xlink:to="label_LimitedPartnersCapitalUnitsRedeemed_2" xlink:title="label: LimitedPartnersCapitalUnitsRedeemed to label_LimitedPartnersCapitalUnitsRedeemed" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LimitedPartnersCapitalUnitsRedeemed_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LimitedPartnersCapitalUnitsRedeemed" xml:lang="en-US" id="label_LimitedPartnersCapitalUnitsRedeemed_3">Redemption notification of limited partnership units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LimitedPartnersCapitalUnitsRedeemed" xlink:to="label_LimitedPartnersCapitalUnitsRedeemed_3" xlink:title="label: LimitedPartnersCapitalUnitsRedeemed to label_LimitedPartnersCapitalUnitsRedeemed" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LimitedPartnershipUnitsConversionBasis" xlink:label="LimitedPartnershipUnitsConversionBasis" xlink:title="LimitedPartnershipUnitsConversionBasis" />
    <link:label xlink:type="resource" xlink:label="label_LimitedPartnershipUnitsConversionBasis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LimitedPartnershipUnitsConversionBasis" xml:lang="en-US" id="label_LimitedPartnershipUnitsConversionBasis">Limited Partnership, Units Conversion Basis</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LimitedPartnershipUnitsConversionBasis" xlink:to="label_LimitedPartnershipUnitsConversionBasis" xlink:title="label: LimitedPartnershipUnitsConversionBasis to label_LimitedPartnershipUnitsConversionBasis" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LimitedPartnershipUnitsConversionBasis_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LimitedPartnershipUnitsConversionBasis" xml:lang="en-US" id="label_LimitedPartnershipUnitsConversionBasis_2">Limited partnership, conversion basis</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LimitedPartnershipUnitsConversionBasis" xlink:to="label_LimitedPartnershipUnitsConversionBasis_2" xlink:title="label: LimitedPartnershipUnitsConversionBasis to label_LimitedPartnershipUnitsConversionBasis" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LimitedPartnershipUnitsConversionBasis_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LimitedPartnershipUnitsConversionBasis" xml:lang="en-US" id="label_LimitedPartnershipUnitsConversionBasis_3">Describes the conversion features of the limited partnership units which are convertible. That is, units of limited partnership into which another convertible security was converted.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LimitedPartnershipUnitsConversionBasis" xlink:to="label_LimitedPartnershipUnitsConversionBasis_3" xlink:title="label: LimitedPartnershipUnitsConversionBasis to label_LimitedPartnershipUnitsConversionBasis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity" xlink:label="LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity" xlink:title="LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity" />
    <link:label xlink:type="resource" xlink:label="label_LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity" xml:lang="en-US" id="label_LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity">Line of Credit Facility, Possible Total Maximum Borrowing Capacity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity" xlink:to="label_LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity" xlink:title="label: LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity to label_LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity" xml:lang="en-US" id="label_LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity_2">Possible total maximum availability under Unsecured Credit Agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity" xlink:to="label_LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity_2" xlink:title="label: LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity to label_LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity" xml:lang="en-US" id="label_LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity_3">Represents the possible total maximum borrowing capacity under the line of credit facility.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity" xlink:to="label_LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity_3" xlink:title="label: LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity to label_LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LoanCommitments" xlink:label="LoanCommitments" xlink:title="LoanCommitments" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LoanCommitments" xml:lang="en-US" id="label_LoanCommitments">Loan Commitments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitments" xlink:to="label_LoanCommitments" xlink:title="label: LoanCommitments to label_LoanCommitments" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitments_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LoanCommitments" xml:lang="en-US" id="label_LoanCommitments_2">Represents the amount of loan commitments of the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitments" xlink:to="label_LoanCommitments_2" xlink:title="label: LoanCommitments to label_LoanCommitments" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitments_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LoanCommitments" xml:lang="en-US" id="label_LoanCommitments_3">Loan commitment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitments" xlink:to="label_LoanCommitments_3" xlink:title="label: LoanCommitments to label_LoanCommitments" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitments_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_LoanCommitments" xml:lang="en-US" id="label_LoanCommitments_4">Loan commitments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitments" xlink:to="label_LoanCommitments_4" xlink:title="label: LoanCommitments to label_LoanCommitments" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitments_5" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_LoanCommitments" xml:lang="en-US" id="label_LoanCommitments_5">Funded commitment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitments" xlink:to="label_LoanCommitments_5" xlink:title="label: LoanCommitments to label_LoanCommitments" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitments_6" xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel" xlink:title="label_LoanCommitments" xml:lang="en-US" id="label_LoanCommitments_6">Originated commitment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitments" xlink:to="label_LoanCommitments_6" xlink:title="label: LoanCommitments to label_LoanCommitments" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LoanCommitmentsAmountInvested" xlink:label="LoanCommitmentsAmountInvested" xlink:title="LoanCommitmentsAmountInvested" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsAmountInvested" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_LoanCommitmentsAmountInvested" xml:lang="en-US" id="label_LoanCommitmentsAmountInvested">Funded capital improvement commitments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsAmountInvested" xlink:to="label_LoanCommitmentsAmountInvested" xlink:title="label: LoanCommitmentsAmountInvested to label_LoanCommitmentsAmountInvested" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsAmountInvested_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LoanCommitmentsAmountInvested" xml:lang="en-US" id="label_LoanCommitmentsAmountInvested_2">Loan Commitments Amount Invested</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsAmountInvested" xlink:to="label_LoanCommitmentsAmountInvested_2" xlink:title="label: LoanCommitmentsAmountInvested to label_LoanCommitmentsAmountInvested" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsAmountInvested_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LoanCommitmentsAmountInvested" xml:lang="en-US" id="label_LoanCommitmentsAmountInvested_3">Represents the amount invested into various loan commitments by the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsAmountInvested" xlink:to="label_LoanCommitmentsAmountInvested_3" xlink:title="label: LoanCommitmentsAmountInvested to label_LoanCommitmentsAmountInvested" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsAmountInvested_4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LoanCommitmentsAmountInvested" xml:lang="en-US" id="label_LoanCommitmentsAmountInvested_4">Used Commitment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsAmountInvested" xlink:to="label_LoanCommitmentsAmountInvested_4" xlink:title="label: LoanCommitmentsAmountInvested to label_LoanCommitmentsAmountInvested" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsAmountInvested_5" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_LoanCommitmentsAmountInvested" xml:lang="en-US" id="label_LoanCommitmentsAmountInvested_5">Funded loan commitments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsAmountInvested" xlink:to="label_LoanCommitmentsAmountInvested_5" xlink:title="label: LoanCommitmentsAmountInvested to label_LoanCommitmentsAmountInvested" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit" xlink:label="LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit" xlink:title="LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit" xml:lang="en-US" id="label_LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit">Loan Commitments Number of Commitments to Provide Loans and Line of Credit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit" xlink:to="label_LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit" xlink:title="label: LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit to label_LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit" xml:lang="en-US" id="label_LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit_2">Number of commitments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit" xlink:to="label_LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit_2" xlink:title="label: LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit to label_LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit" xml:lang="en-US" id="label_LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit_3">Represents the number of commitments to provide loans and line of credit with certain operators.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit" xlink:to="label_LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit_3" xlink:title="label: LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit to label_LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LoanCommitmentsEstimatedYield" xlink:label="LoanCommitmentsEstimatedYield" xlink:title="LoanCommitmentsEstimatedYield" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsEstimatedYield" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LoanCommitmentsEstimatedYield" xml:lang="en-US" id="label_LoanCommitmentsEstimatedYield">Loan Commitments Estimated Yield</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsEstimatedYield" xlink:to="label_LoanCommitmentsEstimatedYield" xlink:title="label: LoanCommitmentsEstimatedYield to label_LoanCommitmentsEstimatedYield" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsEstimatedYield_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LoanCommitmentsEstimatedYield" xml:lang="en-US" id="label_LoanCommitmentsEstimatedYield_2">Represents the rate of estimated yield on loan commitments of the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsEstimatedYield" xlink:to="label_LoanCommitmentsEstimatedYield_2" xlink:title="label: LoanCommitmentsEstimatedYield to label_LoanCommitmentsEstimatedYield" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsEstimatedYield_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LoanCommitmentsEstimatedYield" xml:lang="en-US" id="label_LoanCommitmentsEstimatedYield_3">Estimated yield (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsEstimatedYield" xlink:to="label_LoanCommitmentsEstimatedYield_3" xlink:title="label: LoanCommitmentsEstimatedYield to label_LoanCommitmentsEstimatedYield" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsEstimatedYield_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_LoanCommitmentsEstimatedYield" xml:lang="en-US" id="label_LoanCommitmentsEstimatedYield_4">Yield (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsEstimatedYield" xlink:to="label_LoanCommitmentsEstimatedYield_4" xlink:title="label: LoanCommitmentsEstimatedYield to label_LoanCommitmentsEstimatedYield" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsEstimatedYield_5" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_LoanCommitmentsEstimatedYield" xml:lang="en-US" id="label_LoanCommitmentsEstimatedYield_5">Rate of interest (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsEstimatedYield" xlink:to="label_LoanCommitmentsEstimatedYield_5" xlink:title="label: LoanCommitmentsEstimatedYield to label_LoanCommitmentsEstimatedYield" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LeaseAgreementTerm" xlink:label="LeaseAgreementTerm" xlink:title="LeaseAgreementTerm" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeaseAgreementTerm" xml:lang="en-US" id="label_LeaseAgreementTerm">Lease Agreement Term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementTerm" xlink:to="label_LeaseAgreementTerm" xlink:title="label: LeaseAgreementTerm to label_LeaseAgreementTerm" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementTerm_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeaseAgreementTerm" xml:lang="en-US" id="label_LeaseAgreementTerm_2">Term of lease</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementTerm" xlink:to="label_LeaseAgreementTerm_2" xlink:title="label: LeaseAgreementTerm to label_LeaseAgreementTerm" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementTerm_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LeaseAgreementTerm" xml:lang="en-US" id="label_LeaseAgreementTerm_3">Represents the term of the lease agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementTerm" xlink:to="label_LeaseAgreementTerm_3" xlink:title="label: LeaseAgreementTerm to label_LeaseAgreementTerm" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LoanAgreementTerm" xlink:label="LoanAgreementTerm" xlink:title="LoanAgreementTerm" />
    <link:label xlink:type="resource" xlink:label="label_LoanAgreementTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LoanAgreementTerm" xml:lang="en-US" id="label_LoanAgreementTerm">Loan Agreement Term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanAgreementTerm" xlink:to="label_LoanAgreementTerm" xlink:title="label: LoanAgreementTerm to label_LoanAgreementTerm" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanAgreementTerm_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LoanAgreementTerm" xml:lang="en-US" id="label_LoanAgreementTerm_2">Represents the term of the loan agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanAgreementTerm" xlink:to="label_LoanAgreementTerm_2" xlink:title="label: LoanAgreementTerm to label_LoanAgreementTerm" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanAgreementTerm_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LoanAgreementTerm" xml:lang="en-US" id="label_LoanAgreementTerm_3">Term of loan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanAgreementTerm" xlink:to="label_LoanAgreementTerm_3" xlink:title="label: LoanAgreementTerm to label_LoanAgreementTerm" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LoanCommitmentsEstimatedYieldAnnualIncrease" xlink:label="LoanCommitmentsEstimatedYieldAnnualIncrease" xlink:title="LoanCommitmentsEstimatedYieldAnnualIncrease" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsEstimatedYieldAnnualIncrease" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LoanCommitmentsEstimatedYieldAnnualIncrease" xml:lang="en-US" id="label_LoanCommitmentsEstimatedYieldAnnualIncrease">Loan Commitments Estimated Yield Annual Increase</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsEstimatedYieldAnnualIncrease" xlink:to="label_LoanCommitmentsEstimatedYieldAnnualIncrease" xlink:title="label: LoanCommitmentsEstimatedYieldAnnualIncrease to label_LoanCommitmentsEstimatedYieldAnnualIncrease" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsEstimatedYieldAnnualIncrease_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LoanCommitmentsEstimatedYieldAnnualIncrease" xml:lang="en-US" id="label_LoanCommitmentsEstimatedYieldAnnualIncrease_2">Annual increase in rate of interest (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsEstimatedYieldAnnualIncrease" xlink:to="label_LoanCommitmentsEstimatedYieldAnnualIncrease_2" xlink:title="label: LoanCommitmentsEstimatedYieldAnnualIncrease to label_LoanCommitmentsEstimatedYieldAnnualIncrease" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsEstimatedYieldAnnualIncrease_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LoanCommitmentsEstimatedYieldAnnualIncrease" xml:lang="en-US" id="label_LoanCommitmentsEstimatedYieldAnnualIncrease_3">Represents the annual increase in rate of estimated yield on loan commitments of the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsEstimatedYieldAnnualIncrease" xlink:to="label_LoanCommitmentsEstimatedYieldAnnualIncrease_3" xlink:title="label: LoanCommitmentsEstimatedYieldAnnualIncrease to label_LoanCommitmentsEstimatedYieldAnnualIncrease" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice" xlink:label="LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice" xlink:title="LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice" xml:lang="en-US" id="label_LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice">Loan Commitments Right to Purchase Replacement Facility Purchase Price</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice" xlink:to="label_LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice" xlink:title="label: LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice to label_LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice" xml:lang="en-US" id="label_LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice_2">Purchase price of replacement facility</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice" xlink:to="label_LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice_2" xlink:title="label: LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice to label_LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice" xml:lang="en-US" id="label_LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice_3">Represents the price at which the replacement facility can be purchased as per the option given under the loan agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice" xlink:to="label_LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice_3" xlink:title="label: LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice to label_LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_TermOfRightToPurchaseReplacementFacility" xlink:label="TermOfRightToPurchaseReplacementFacility" xlink:title="TermOfRightToPurchaseReplacementFacility" />
    <link:label xlink:type="resource" xlink:label="label_TermOfRightToPurchaseReplacementFacility" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TermOfRightToPurchaseReplacementFacility" xml:lang="en-US" id="label_TermOfRightToPurchaseReplacementFacility">Term of Right to Purchase Replacement Facility</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TermOfRightToPurchaseReplacementFacility" xlink:to="label_TermOfRightToPurchaseReplacementFacility" xlink:title="label: TermOfRightToPurchaseReplacementFacility to label_TermOfRightToPurchaseReplacementFacility" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_TermOfRightToPurchaseReplacementFacility_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TermOfRightToPurchaseReplacementFacility" xml:lang="en-US" id="label_TermOfRightToPurchaseReplacementFacility_2">Term of right to purchase replacement facility</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TermOfRightToPurchaseReplacementFacility" xlink:to="label_TermOfRightToPurchaseReplacementFacility_2" xlink:title="label: TermOfRightToPurchaseReplacementFacility to label_TermOfRightToPurchaseReplacementFacility" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_TermOfRightToPurchaseReplacementFacility_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TermOfRightToPurchaseReplacementFacility" xml:lang="en-US" id="label_TermOfRightToPurchaseReplacementFacility_3">Represents the term of right to purchase the replacement facility under the loan agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TermOfRightToPurchaseReplacementFacility" xlink:to="label_TermOfRightToPurchaseReplacementFacility_3" xlink:title="label: TermOfRightToPurchaseReplacementFacility to label_TermOfRightToPurchaseReplacementFacility" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LoanCommitmentsOpen" xlink:label="LoanCommitmentsOpen" xlink:title="LoanCommitmentsOpen" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsOpen" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LoanCommitmentsOpen" xml:lang="en-US" id="label_LoanCommitmentsOpen">Loan Commitments Open</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsOpen" xlink:to="label_LoanCommitmentsOpen" xlink:title="label: LoanCommitmentsOpen to label_LoanCommitmentsOpen" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsOpen_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LoanCommitmentsOpen" xml:lang="en-US" id="label_LoanCommitmentsOpen_2">Represents the amount of open loan commitments as of the balance sheet date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsOpen" xlink:to="label_LoanCommitmentsOpen_2" xlink:title="label: LoanCommitmentsOpen to label_LoanCommitmentsOpen" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsOpen_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LoanCommitmentsOpen" xml:lang="en-US" id="label_LoanCommitmentsOpen_3">Open Commitment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsOpen" xlink:to="label_LoanCommitmentsOpen_3" xlink:title="label: LoanCommitmentsOpen to label_LoanCommitmentsOpen" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentsOpen_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_LoanCommitmentsOpen" xml:lang="en-US" id="label_LoanCommitmentsOpen_4">Remaining loan commitments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentsOpen" xlink:to="label_LoanCommitmentsOpen_4" xlink:title="label: LoanCommitmentsOpen to label_LoanCommitmentsOpen" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MajorOperatorTextBlock" xlink:label="MajorOperatorTextBlock" xlink:title="MajorOperatorTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_MajorOperatorTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MajorOperatorTextBlock" xml:lang="en-US" id="label_MajorOperatorTextBlock">Major Operators</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorOperatorTextBlock" xlink:to="label_MajorOperatorTextBlock" xlink:title="label: MajorOperatorTextBlock to label_MajorOperatorTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MajorOperatorTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MajorOperatorTextBlock" xml:lang="en-US" id="label_MajorOperatorTextBlock_2">Major Operator [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorOperatorTextBlock" xlink:to="label_MajorOperatorTextBlock_2" xlink:title="label: MajorOperatorTextBlock to label_MajorOperatorTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MajorOperatorTextBlock_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MajorOperatorTextBlock" xml:lang="en-US" id="label_MajorOperatorTextBlock_3">External customer that is deemed major to the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorOperatorTextBlock" xlink:to="label_MajorOperatorTextBlock_3" xlink:title="label: MajorOperatorTextBlock to label_MajorOperatorTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MajorOperatorsAxis" xlink:label="MajorOperatorsAxis" xlink:title="MajorOperatorsAxis" />
    <link:label xlink:type="resource" xlink:label="label_MajorOperatorsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MajorOperatorsAxis" xml:lang="en-US" id="label_MajorOperatorsAxis">Major Operators [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorOperatorsAxis" xlink:to="label_MajorOperatorsAxis" xlink:title="label: MajorOperatorsAxis to label_MajorOperatorsAxis" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MajorOperatorsAxis_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MajorOperatorsAxis" xml:lang="en-US" id="label_MajorOperatorsAxis_2">Represents the major operators of the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorOperatorsAxis" xlink:to="label_MajorOperatorsAxis_2" xlink:title="label: MajorOperatorsAxis to label_MajorOperatorsAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MajorOperatorsDisclosureAbstract" xlink:label="MajorOperatorsDisclosureAbstract" xlink:title="MajorOperatorsDisclosureAbstract" />
    <link:label xlink:type="resource" xlink:label="label_MajorOperatorsDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MajorOperatorsDisclosureAbstract" xml:lang="en-US" id="label_MajorOperatorsDisclosureAbstract">Major Operators</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorOperatorsDisclosureAbstract" xlink:to="label_MajorOperatorsDisclosureAbstract" xlink:title="label: MajorOperatorsDisclosureAbstract to label_MajorOperatorsDisclosureAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MajorOperatorsDomain" xlink:label="MajorOperatorsDomain" xlink:title="MajorOperatorsDomain" />
    <link:label xlink:type="resource" xlink:label="label_MajorOperatorsDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MajorOperatorsDomain" xml:lang="en-US" id="label_MajorOperatorsDomain">A component of an enterprise representing financial information of entire consolidated business entity disaggregated by major operators.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorOperatorsDomain" xlink:to="label_MajorOperatorsDomain" xlink:title="label: MajorOperatorsDomain to label_MajorOperatorsDomain" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MajorOperatorsDomain_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MajorOperatorsDomain" xml:lang="en-US" id="label_MajorOperatorsDomain_2">Major Operators [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorOperatorsDomain" xlink:to="label_MajorOperatorsDomain_2" xlink:title="label: MajorOperatorsDomain to label_MajorOperatorsDomain" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MarketableSecuritiesFairValueDisclosureFairValueMarketQuotePercentageOfParValue" xlink:label="MarketableSecuritiesFairValueDisclosureFairValueMarketQuotePercentageOfParValue" xlink:title="MarketableSecuritiesFairValueDisclosureFairValueMarketQuotePercentageOfParValue" />
    <link:label xlink:type="resource" xlink:label="label_MarketableSecuritiesFairValueDisclosureFairValueMarketQuotePercentageOfParValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MarketableSecuritiesFairValueDisclosureFairValueMarketQuotePercentageOfParValue" xml:lang="en-US" id="label_MarketableSecuritiesFairValueDisclosureFairValueMarketQuotePercentageOfParValue">Marketable Securities, Fair Value Disclosure, Fair Value Market Quote Percentage of Par Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketableSecuritiesFairValueDisclosureFairValueMarketQuotePercentageOfParValue" xlink:to="label_MarketableSecuritiesFairValueDisclosureFairValueMarketQuotePercentageOfParValue" xlink:title="label: MarketableSecuritiesFairValueDisclosureFairValueMarketQuotePercentageOfParValue to label_MarketableSecuritiesFairValueDisclosureFairValueMarketQuotePercentageOfParValue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MarketableSecuritiesFairValueDisclosureFairValueMarketQuotePercentageOfParValue_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MarketableSecuritiesFairValueDisclosureFairValueMarketQuotePercentageOfParValue" xml:lang="en-US" id="label_MarketableSecuritiesFairValueDisclosureFairValueMarketQuotePercentageOfParValue_2">Fair value of marketable debt securities as a percentage of quoted market price</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketableSecuritiesFairValueDisclosureFairValueMarketQuotePercentageOfParValue" xlink:to="label_MarketableSecuritiesFairValueDisclosureFairValueMarketQuotePercentageOfParValue_2" xlink:title="label: MarketableSecuritiesFairValueDisclosureFairValueMarketQuotePercentageOfParValue to label_MarketableSecuritiesFairValueDisclosureFairValueMarketQuotePercentageOfParValue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MarketableSecuritiesFairValueDisclosureFairValueMarketQuotePercentageOfParValue_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MarketableSecuritiesFairValueDisclosureFairValueMarketQuotePercentageOfParValue" xml:lang="en-US" id="label_MarketableSecuritiesFairValueDisclosureFairValueMarketQuotePercentageOfParValue_3">Represents the quoted market rate expressed as a percentage of par value used to value marketable securities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketableSecuritiesFairValueDisclosureFairValueMarketQuotePercentageOfParValue" xlink:to="label_MarketableSecuritiesFairValueDisclosureFairValueMarketQuotePercentageOfParValue_3" xlink:title="label: MarketableSecuritiesFairValueDisclosureFairValueMarketQuotePercentageOfParValue to label_MarketableSecuritiesFairValueDisclosureFairValueMarketQuotePercentageOfParValue" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MesquiteMember" xlink:label="MesquiteMember" xlink:title="MesquiteMember" />
    <link:label xlink:type="resource" xlink:label="label_MesquiteMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MesquiteMember" xml:lang="en-US" id="label_MesquiteMember">Mesquite [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MesquiteMember" xlink:to="label_MesquiteMember" xlink:title="label: MesquiteMember to label_MesquiteMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MesquiteMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MesquiteMember" xml:lang="en-US" id="label_MesquiteMember_2">Mesquite</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MesquiteMember" xlink:to="label_MesquiteMember_2" xlink:title="label: MesquiteMember to label_MesquiteMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MesquiteMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MesquiteMember" xml:lang="en-US" id="label_MesquiteMember_3">Represents the information pertaining to Mesquite.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MesquiteMember" xlink:to="label_MesquiteMember_3" xlink:title="label: MesquiteMember to label_MesquiteMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SeniorUnsecuredTermNotes5.25PercentDue14July2015Member" xlink:label="SeniorUnsecuredTermNotes5.25PercentDue14July2015Member" xlink:title="SeniorUnsecuredTermNotes5.25PercentDue14July2015Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredTermNotes5.25PercentDue14July2015Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeniorUnsecuredTermNotes5.25PercentDue14July2015Member" xml:lang="en-US" id="label_SeniorUnsecuredTermNotes5.25PercentDue14July2015Member">Senior Unsecured Term Notes 5.25 Percent Due 14 July 2015 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredTermNotes5.25PercentDue14July2015Member" xlink:to="label_SeniorUnsecuredTermNotes5.25PercentDue14July2015Member" xlink:title="label: SeniorUnsecuredTermNotes5.25PercentDue14July2015Member to label_SeniorUnsecuredTermNotes5.25PercentDue14July2015Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredTermNotes5.25PercentDue14July2015Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeniorUnsecuredTermNotes5.25PercentDue14July2015Member" xml:lang="en-US" id="label_SeniorUnsecuredTermNotes5.25PercentDue14July2015Member_2">5.25% senior unsecured term notes due July 14, 2015</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredTermNotes5.25PercentDue14July2015Member" xlink:to="label_SeniorUnsecuredTermNotes5.25PercentDue14July2015Member_2" xlink:title="label: SeniorUnsecuredTermNotes5.25PercentDue14July2015Member to label_SeniorUnsecuredTermNotes5.25PercentDue14July2015Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredTermNotes5.25PercentDue14July2015Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SeniorUnsecuredTermNotes5.25PercentDue14July2015Member" xml:lang="en-US" id="label_SeniorUnsecuredTermNotes5.25PercentDue14July2015Member_3">Represents the senior unsecured term notes bearing an interest of 5.25 percent due in July 14, 2015.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredTermNotes5.25PercentDue14July2015Member" xlink:to="label_SeniorUnsecuredTermNotes5.25PercentDue14July2015Member_3" xlink:title="label: SeniorUnsecuredTermNotes5.25PercentDue14July2015Member to label_SeniorUnsecuredTermNotes5.25PercentDue14July2015Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SeniorUnsecuredTermNotes5.74PercentDue14July2019Member" xlink:label="SeniorUnsecuredTermNotes5.74PercentDue14July2019Member" xlink:title="SeniorUnsecuredTermNotes5.74PercentDue14July2019Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredTermNotes5.74PercentDue14July2019Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeniorUnsecuredTermNotes5.74PercentDue14July2019Member" xml:lang="en-US" id="label_SeniorUnsecuredTermNotes5.74PercentDue14July2019Member">Senior Unsecured Term Notes 5.74 Percent Due 14 July 2019 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredTermNotes5.74PercentDue14July2019Member" xlink:to="label_SeniorUnsecuredTermNotes5.74PercentDue14July2019Member" xlink:title="label: SeniorUnsecuredTermNotes5.74PercentDue14July2019Member to label_SeniorUnsecuredTermNotes5.74PercentDue14July2019Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredTermNotes5.74PercentDue14July2019Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeniorUnsecuredTermNotes5.74PercentDue14July2019Member" xml:lang="en-US" id="label_SeniorUnsecuredTermNotes5.74PercentDue14July2019Member_2">5.74% senior unsecured term notes due July 14, 2019</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredTermNotes5.74PercentDue14July2019Member" xlink:to="label_SeniorUnsecuredTermNotes5.74PercentDue14July2019Member_2" xlink:title="label: SeniorUnsecuredTermNotes5.74PercentDue14July2019Member to label_SeniorUnsecuredTermNotes5.74PercentDue14July2019Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredTermNotes5.74PercentDue14July2019Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SeniorUnsecuredTermNotes5.74PercentDue14July2019Member" xml:lang="en-US" id="label_SeniorUnsecuredTermNotes5.74PercentDue14July2019Member_3">Represents the senior unsecured term notes bearing an interest of 5.74 percent due in July 19, 2019.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredTermNotes5.74PercentDue14July2019Member" xlink:to="label_SeniorUnsecuredTermNotes5.74PercentDue14July2019Member_3" xlink:title="label: SeniorUnsecuredTermNotes5.74PercentDue14July2019Member to label_SeniorUnsecuredTermNotes5.74PercentDue14July2019Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoanOnRealEstateMaximumPeriodForDeterminingDelinquencies" xlink:label="MortgageLoanOnRealEstateMaximumPeriodForDeterminingDelinquencies" xlink:title="MortgageLoanOnRealEstateMaximumPeriodForDeterminingDelinquencies" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoanOnRealEstateMaximumPeriodForDeterminingDelinquencies" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoanOnRealEstateMaximumPeriodForDeterminingDelinquencies" xml:lang="en-US" id="label_MortgageLoanOnRealEstateMaximumPeriodForDeterminingDelinquencies">Mortgage Loan on Real Estate, Maximum Period for Determining Delinquencies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoanOnRealEstateMaximumPeriodForDeterminingDelinquencies" xlink:to="label_MortgageLoanOnRealEstateMaximumPeriodForDeterminingDelinquencies" xlink:title="label: MortgageLoanOnRealEstateMaximumPeriodForDeterminingDelinquencies to label_MortgageLoanOnRealEstateMaximumPeriodForDeterminingDelinquencies" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoanOnRealEstateMaximumPeriodForDeterminingDelinquencies_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoanOnRealEstateMaximumPeriodForDeterminingDelinquencies" xml:lang="en-US" id="label_MortgageLoanOnRealEstateMaximumPeriodForDeterminingDelinquencies_2">Maximum period over which loan is to be considered as non-performing</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoanOnRealEstateMaximumPeriodForDeterminingDelinquencies" xlink:to="label_MortgageLoanOnRealEstateMaximumPeriodForDeterminingDelinquencies_2" xlink:title="label: MortgageLoanOnRealEstateMaximumPeriodForDeterminingDelinquencies to label_MortgageLoanOnRealEstateMaximumPeriodForDeterminingDelinquencies" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoanOnRealEstateMaximumPeriodForDeterminingDelinquencies_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoanOnRealEstateMaximumPeriodForDeterminingDelinquencies" xml:lang="en-US" id="label_MortgageLoanOnRealEstateMaximumPeriodForDeterminingDelinquencies_3">Represents the maximum period after which the amount of principal due on mortgage loans becomes delinquent.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoanOnRealEstateMaximumPeriodForDeterminingDelinquencies" xlink:to="label_MortgageLoanOnRealEstateMaximumPeriodForDeterminingDelinquencies_3" xlink:title="label: MortgageLoanOnRealEstateMaximumPeriodForDeterminingDelinquencies to label_MortgageLoanOnRealEstateMaximumPeriodForDeterminingDelinquencies" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LeaseAgreementsMaximumPeriodForDeterminingDelinquencies" xlink:label="LeaseAgreementsMaximumPeriodForDeterminingDelinquencies" xlink:title="LeaseAgreementsMaximumPeriodForDeterminingDelinquencies" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementsMaximumPeriodForDeterminingDelinquencies" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeaseAgreementsMaximumPeriodForDeterminingDelinquencies" xml:lang="en-US" id="label_LeaseAgreementsMaximumPeriodForDeterminingDelinquencies">Maximum period over which a lease is to be considered as non-performing</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementsMaximumPeriodForDeterminingDelinquencies" xlink:to="label_LeaseAgreementsMaximumPeriodForDeterminingDelinquencies" xlink:title="label: LeaseAgreementsMaximumPeriodForDeterminingDelinquencies to label_LeaseAgreementsMaximumPeriodForDeterminingDelinquencies" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementsMaximumPeriodForDeterminingDelinquencies_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LeaseAgreementsMaximumPeriodForDeterminingDelinquencies" xml:lang="en-US" id="label_LeaseAgreementsMaximumPeriodForDeterminingDelinquencies_2">Represents the maximum period after which the amount of lease payments due becomes delinquent.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementsMaximumPeriodForDeterminingDelinquencies" xlink:to="label_LeaseAgreementsMaximumPeriodForDeterminingDelinquencies_2" xlink:title="label: LeaseAgreementsMaximumPeriodForDeterminingDelinquencies to label_LeaseAgreementsMaximumPeriodForDeterminingDelinquencies" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementsMaximumPeriodForDeterminingDelinquencies_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeaseAgreementsMaximumPeriodForDeterminingDelinquencies" xml:lang="en-US" id="label_LeaseAgreementsMaximumPeriodForDeterminingDelinquencies_3">Lease Agreements, Maximum Period for Determining Delinquencies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementsMaximumPeriodForDeterminingDelinquencies" xlink:to="label_LeaseAgreementsMaximumPeriodForDeterminingDelinquencies_3" xlink:title="label: LeaseAgreementsMaximumPeriodForDeterminingDelinquencies to label_LeaseAgreementsMaximumPeriodForDeterminingDelinquencies" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateAmortizationPeriod" xlink:label="MortgageLoansOnRealEstateAmortizationPeriod" xlink:title="MortgageLoansOnRealEstateAmortizationPeriod" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateAmortizationPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateAmortizationPeriod" xml:lang="en-US" id="label_MortgageLoansOnRealEstateAmortizationPeriod">Mortgage Loans on Real Estate, Amortization Period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateAmortizationPeriod" xlink:to="label_MortgageLoansOnRealEstateAmortizationPeriod" xlink:title="label: MortgageLoansOnRealEstateAmortizationPeriod to label_MortgageLoansOnRealEstateAmortizationPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateAmortizationPeriod_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateAmortizationPeriod" xml:lang="en-US" id="label_MortgageLoansOnRealEstateAmortizationPeriod_2">Represents the amortization period of mortgage loan on real estate properties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateAmortizationPeriod" xlink:to="label_MortgageLoansOnRealEstateAmortizationPeriod_2" xlink:title="label: MortgageLoansOnRealEstateAmortizationPeriod to label_MortgageLoansOnRealEstateAmortizationPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateAmortizationPeriod_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateAmortizationPeriod" xml:lang="en-US" id="label_MortgageLoansOnRealEstateAmortizationPeriod_3">General amortization schedule of mortgage loans</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateAmortizationPeriod" xlink:to="label_MortgageLoansOnRealEstateAmortizationPeriod_3" xlink:title="label: MortgageLoansOnRealEstateAmortizationPeriod to label_MortgageLoansOnRealEstateAmortizationPeriod" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovements" xlink:label="MortgageLoansOnRealEstateAmountInvestedForCapitalImprovements" xlink:title="MortgageLoansOnRealEstateAmountInvestedForCapitalImprovements" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovements" xml:lang="en-US" id="label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovements">Mortgage Loans on Real Estate, Amount Invested for Capital Improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateAmountInvestedForCapitalImprovements" xlink:to="label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovements" xlink:title="label: MortgageLoansOnRealEstateAmountInvestedForCapitalImprovements to label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovements" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovements_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovements" xml:lang="en-US" id="label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovements_2">Represents the amount invested in mortgage loans for capital improvements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateAmountInvestedForCapitalImprovements" xlink:to="label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovements_2" xlink:title="label: MortgageLoansOnRealEstateAmountInvestedForCapitalImprovements to label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovements" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovements_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovements" xml:lang="en-US" id="label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovements_3">Amount invested in mortgage loan for capital improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateAmountInvestedForCapitalImprovements" xlink:to="label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovements_3" xlink:title="label: MortgageLoansOnRealEstateAmountInvestedForCapitalImprovements to label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovements" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovementsNumberOfLoans" xlink:label="MortgageLoansOnRealEstateAmountInvestedForCapitalImprovementsNumberOfLoans" xlink:title="MortgageLoansOnRealEstateAmountInvestedForCapitalImprovementsNumberOfLoans" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovementsNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovementsNumberOfLoans" xml:lang="en-US" id="label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovementsNumberOfLoans">Mortgage Loans on Real Estate, Amount Invested for Capital Improvements Number of Loans</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateAmountInvestedForCapitalImprovementsNumberOfLoans" xlink:to="label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovementsNumberOfLoans" xlink:title="label: MortgageLoansOnRealEstateAmountInvestedForCapitalImprovementsNumberOfLoans to label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovementsNumberOfLoans" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovementsNumberOfLoans_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovementsNumberOfLoans" xml:lang="en-US" id="label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovementsNumberOfLoans_2">Number of loans in which amount has been invested for capital improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateAmountInvestedForCapitalImprovementsNumberOfLoans" xlink:to="label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovementsNumberOfLoans_2" xlink:title="label: MortgageLoansOnRealEstateAmountInvestedForCapitalImprovementsNumberOfLoans to label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovementsNumberOfLoans" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovementsNumberOfLoans_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovementsNumberOfLoans" xml:lang="en-US" id="label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovementsNumberOfLoans_3">Represents the number of loans under which the amount has been invested for capital improvements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateAmountInvestedForCapitalImprovementsNumberOfLoans" xlink:to="label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovementsNumberOfLoans_3" xlink:title="label: MortgageLoansOnRealEstateAmountInvestedForCapitalImprovementsNumberOfLoans to label_MortgageLoansOnRealEstateAmountInvestedForCapitalImprovementsNumberOfLoans" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateAmountInvestedForExpansionOfPropertyAndExtensionOfLoanMaturity" xlink:label="MortgageLoansOnRealEstateAmountInvestedForExpansionOfPropertyAndExtensionOfLoanMaturity" xlink:title="MortgageLoansOnRealEstateAmountInvestedForExpansionOfPropertyAndExtensionOfLoanMaturity" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateAmountInvestedForExpansionOfPropertyAndExtensionOfLoanMaturity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateAmountInvestedForExpansionOfPropertyAndExtensionOfLoanMaturity" xml:lang="en-US" id="label_MortgageLoansOnRealEstateAmountInvestedForExpansionOfPropertyAndExtensionOfLoanMaturity">Mortgage Loans on Real Estate, Amount Invested for Expansion of Property and Extension of Loan Maturity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateAmountInvestedForExpansionOfPropertyAndExtensionOfLoanMaturity" xlink:to="label_MortgageLoansOnRealEstateAmountInvestedForExpansionOfPropertyAndExtensionOfLoanMaturity" xlink:title="label: MortgageLoansOnRealEstateAmountInvestedForExpansionOfPropertyAndExtensionOfLoanMaturity to label_MortgageLoansOnRealEstateAmountInvestedForExpansionOfPropertyAndExtensionOfLoanMaturity" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateAmountInvestedForExpansionOfPropertyAndExtensionOfLoanMaturity_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateAmountInvestedForExpansionOfPropertyAndExtensionOfLoanMaturity" xml:lang="en-US" id="label_MortgageLoansOnRealEstateAmountInvestedForExpansionOfPropertyAndExtensionOfLoanMaturity_2">Represents the amount invested into mortgage loan on real estate for expansion of property and extension of maturity period of loan.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateAmountInvestedForExpansionOfPropertyAndExtensionOfLoanMaturity" xlink:to="label_MortgageLoansOnRealEstateAmountInvestedForExpansionOfPropertyAndExtensionOfLoanMaturity_2" xlink:title="label: MortgageLoansOnRealEstateAmountInvestedForExpansionOfPropertyAndExtensionOfLoanMaturity to label_MortgageLoansOnRealEstateAmountInvestedForExpansionOfPropertyAndExtensionOfLoanMaturity" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateAmountInvestedForExpansionOfPropertyAndExtensionOfLoanMaturity_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateAmountInvestedForExpansionOfPropertyAndExtensionOfLoanMaturity" xml:lang="en-US" id="label_MortgageLoansOnRealEstateAmountInvestedForExpansionOfPropertyAndExtensionOfLoanMaturity_3">Amount invested for expansion of property and extension of loan maturity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateAmountInvestedForExpansionOfPropertyAndExtensionOfLoanMaturity" xlink:to="label_MortgageLoansOnRealEstateAmountInvestedForExpansionOfPropertyAndExtensionOfLoanMaturity_3" xlink:title="label: MortgageLoansOnRealEstateAmountInvestedForExpansionOfPropertyAndExtensionOfLoanMaturity to label_MortgageLoansOnRealEstateAmountInvestedForExpansionOfPropertyAndExtensionOfLoanMaturity" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateClosingFees" xlink:label="MortgageLoansOnRealEstateClosingFees" xlink:title="MortgageLoansOnRealEstateClosingFees" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateClosingFees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateClosingFees" xml:lang="en-US" id="label_MortgageLoansOnRealEstateClosingFees">Mortgage Loans on Real Estate, Closing Fees</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateClosingFees" xlink:to="label_MortgageLoansOnRealEstateClosingFees" xlink:title="label: MortgageLoansOnRealEstateClosingFees to label_MortgageLoansOnRealEstateClosingFees" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateClosingFees_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateClosingFees" xml:lang="en-US" id="label_MortgageLoansOnRealEstateClosingFees_2">Represents the closing fees paid under mortgage loans on real estate properties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateClosingFees" xlink:to="label_MortgageLoansOnRealEstateClosingFees_2" xlink:title="label: MortgageLoansOnRealEstateClosingFees to label_MortgageLoansOnRealEstateClosingFees" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateClosingFees_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateClosingFees" xml:lang="en-US" id="label_MortgageLoansOnRealEstateClosingFees_3">Closing fees</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateClosingFees" xlink:to="label_MortgageLoansOnRealEstateClosingFees_3" xlink:title="label: MortgageLoansOnRealEstateClosingFees to label_MortgageLoansOnRealEstateClosingFees" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" xlink:label="AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" xlink:title="AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" xml:lang="en-US" id="label_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition">Adjustments to Additional Paid in Capital, Share-based Compensation, Stock Options, Requisite Service Period Recognition</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" xlink:to="label_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" xlink:title="label: AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition to label_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" xml:lang="en-US" id="label_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition_2">Vested stock options</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" xlink:to="label_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition_2" xlink:title="label: AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition to label_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateExtensionOfLoanMaturityPeriod" xlink:label="MortgageLoansOnRealEstateExtensionOfLoanMaturityPeriod" xlink:title="MortgageLoansOnRealEstateExtensionOfLoanMaturityPeriod" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateExtensionOfLoanMaturityPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateExtensionOfLoanMaturityPeriod" xml:lang="en-US" id="label_MortgageLoansOnRealEstateExtensionOfLoanMaturityPeriod">Mortgage Loans on Real Estate, Extension of Loan Maturity Period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateExtensionOfLoanMaturityPeriod" xlink:to="label_MortgageLoansOnRealEstateExtensionOfLoanMaturityPeriod" xlink:title="label: MortgageLoansOnRealEstateExtensionOfLoanMaturityPeriod to label_MortgageLoansOnRealEstateExtensionOfLoanMaturityPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateExtensionOfLoanMaturityPeriod_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateExtensionOfLoanMaturityPeriod" xml:lang="en-US" id="label_MortgageLoansOnRealEstateExtensionOfLoanMaturityPeriod_2">Period of extension of loan maturity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateExtensionOfLoanMaturityPeriod" xlink:to="label_MortgageLoansOnRealEstateExtensionOfLoanMaturityPeriod_2" xlink:title="label: MortgageLoansOnRealEstateExtensionOfLoanMaturityPeriod to label_MortgageLoansOnRealEstateExtensionOfLoanMaturityPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateExtensionOfLoanMaturityPeriod_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateExtensionOfLoanMaturityPeriod" xml:lang="en-US" id="label_MortgageLoansOnRealEstateExtensionOfLoanMaturityPeriod_3">Represents the period of extension of loan maturity period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateExtensionOfLoanMaturityPeriod" xlink:to="label_MortgageLoansOnRealEstateExtensionOfLoanMaturityPeriod_3" xlink:title="label: MortgageLoansOnRealEstateExtensionOfLoanMaturityPeriod to label_MortgageLoansOnRealEstateExtensionOfLoanMaturityPeriod" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:title="AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xml:lang="en-US" id="label_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">Adjustments to reconcile net income to net cash provided by operating activities:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="label_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:title="label: AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract to label_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xml:lang="en-US" id="label_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_2">Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="label_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_2" xlink:title="label: AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract to label_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints" xlink:label="MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints" xlink:title="MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints" xml:lang="en-US" id="label_MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints">Mortgage Loans on Real Estate, Interest Rate Annual Increase Specified Basis Points</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints" xlink:to="label_MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints" xlink:title="label: MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints to label_MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints" xml:lang="en-US" id="label_MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints_2">Specified basis points for annual increase in interest rate (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints" xlink:to="label_MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints_2" xlink:title="label: MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints to label_MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints" xml:lang="en-US" id="label_MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints_3">Represents the basis points specified for an increase in annual interest rate.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints" xlink:to="label_MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints_3" xlink:title="label: MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints to label_MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffs" xlink:label="MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffs" xlink:title="MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffs" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffs" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffs" xml:lang="en-US" id="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffs">Mortgage Loans on Real Estate, Loan Prepayments or Pay Offs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffs" xlink:to="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffs" xlink:title="label: MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffs to label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffs" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffs_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffs" xml:lang="en-US" id="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffs_2">Represents the amount of prepayments or payoffs on mortgage loans on real estate during the reporting period, excluding accrued interest.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffs" xlink:to="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffs_2" xlink:title="label: MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffs to label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffs" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffs_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffs" xml:lang="en-US" id="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffs_3">Amount received related to payoff of loan, excluding accrued interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffs" xlink:to="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffs_3" xlink:title="label: MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffs to label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffs" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateLoansPaidOffNumberOfCollateralProperties" xlink:label="MortgageLoansOnRealEstateLoansPaidOffNumberOfCollateralProperties" xlink:title="MortgageLoansOnRealEstateLoansPaidOffNumberOfCollateralProperties" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateLoansPaidOffNumberOfCollateralProperties" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateLoansPaidOffNumberOfCollateralProperties" xml:lang="en-US" id="label_MortgageLoansOnRealEstateLoansPaidOffNumberOfCollateralProperties">Represents the number of properties securing mortgage loans paid off.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateLoansPaidOffNumberOfCollateralProperties" xlink:to="label_MortgageLoansOnRealEstateLoansPaidOffNumberOfCollateralProperties" xlink:title="label: MortgageLoansOnRealEstateLoansPaidOffNumberOfCollateralProperties to label_MortgageLoansOnRealEstateLoansPaidOffNumberOfCollateralProperties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateLoansPaidOffNumberOfCollateralProperties_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateLoansPaidOffNumberOfCollateralProperties" xml:lang="en-US" id="label_MortgageLoansOnRealEstateLoansPaidOffNumberOfCollateralProperties_2">Mortgage Loans on Real Estate, Loans Paid off Number of Collateral Properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateLoansPaidOffNumberOfCollateralProperties" xlink:to="label_MortgageLoansOnRealEstateLoansPaidOffNumberOfCollateralProperties_2" xlink:title="label: MortgageLoansOnRealEstateLoansPaidOffNumberOfCollateralProperties to label_MortgageLoansOnRealEstateLoansPaidOffNumberOfCollateralProperties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateLoansPaidOffNumberOfCollateralProperties_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateLoansPaidOffNumberOfCollateralProperties" xml:lang="en-US" id="label_MortgageLoansOnRealEstateLoansPaidOffNumberOfCollateralProperties_3">Number of properties securing mortgage loans paid off</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateLoansPaidOffNumberOfCollateralProperties" xlink:to="label_MortgageLoansOnRealEstateLoansPaidOffNumberOfCollateralProperties_3" xlink:title="label: MortgageLoansOnRealEstateLoansPaidOffNumberOfCollateralProperties to label_MortgageLoansOnRealEstateLoansPaidOffNumberOfCollateralProperties" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateNumberOfLoansPaidOff" xlink:label="MortgageLoansOnRealEstateNumberOfLoansPaidOff" xlink:title="MortgageLoansOnRealEstateNumberOfLoansPaidOff" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateNumberOfLoansPaidOff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateNumberOfLoansPaidOff" xml:lang="en-US" id="label_MortgageLoansOnRealEstateNumberOfLoansPaidOff">Mortgage Loans on Real Estate, Number of Loans Paid off</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateNumberOfLoansPaidOff" xlink:to="label_MortgageLoansOnRealEstateNumberOfLoansPaidOff" xlink:title="label: MortgageLoansOnRealEstateNumberOfLoansPaidOff to label_MortgageLoansOnRealEstateNumberOfLoansPaidOff" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateNumberOfLoansPaidOff_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateNumberOfLoansPaidOff" xml:lang="en-US" id="label_MortgageLoansOnRealEstateNumberOfLoansPaidOff_2">Number of loans paid off</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateNumberOfLoansPaidOff" xlink:to="label_MortgageLoansOnRealEstateNumberOfLoansPaidOff_2" xlink:title="label: MortgageLoansOnRealEstateNumberOfLoansPaidOff to label_MortgageLoansOnRealEstateNumberOfLoansPaidOff" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateNumberOfLoansPaidOff_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateNumberOfLoansPaidOff" xml:lang="en-US" id="label_MortgageLoansOnRealEstateNumberOfLoansPaidOff_3">Represents the number of mortgage loans paid off.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateNumberOfLoansPaidOff" xlink:to="label_MortgageLoansOnRealEstateNumberOfLoansPaidOff_3" xlink:title="label: MortgageLoansOnRealEstateNumberOfLoansPaidOff to label_MortgageLoansOnRealEstateNumberOfLoansPaidOff" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAbstract" xlink:label="MortgageLoansOnRealEstateScheduledPrincipalPaymentsAbstract" xlink:title="MortgageLoansOnRealEstateScheduledPrincipalPaymentsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAbstract" xml:lang="en-US" id="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAbstract">Mortgage Loans on Real Estate, Scheduled Principal Payments [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateScheduledPrincipalPaymentsAbstract" xlink:to="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAbstract" xlink:title="label: MortgageLoansOnRealEstateScheduledPrincipalPaymentsAbstract to label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAbstract" xml:lang="en-US" id="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAbstract_2">Scheduled principal payments on mortgage loans</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateScheduledPrincipalPaymentsAbstract" xlink:to="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAbstract_2" xlink:title="label: MortgageLoansOnRealEstateScheduledPrincipalPaymentsAbstract to label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateLoansAbstract" xlink:label="MortgageLoansOnRealEstateLoansAbstract" xlink:title="MortgageLoansOnRealEstateLoansAbstract" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateLoansAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateLoansAbstract" xml:lang="en-US" id="label_MortgageLoansOnRealEstateLoansAbstract">Mortgage Loans on Real Estate Loans [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateLoansAbstract" xlink:to="label_MortgageLoansOnRealEstateLoansAbstract" xlink:title="label: MortgageLoansOnRealEstateLoansAbstract to label_MortgageLoansOnRealEstateLoansAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateLoansAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateLoansAbstract" xml:lang="en-US" id="label_MortgageLoansOnRealEstateLoansAbstract_2">Mortgage loans</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateLoansAbstract" xlink:to="label_MortgageLoansOnRealEstateLoansAbstract_2" xlink:title="label: MortgageLoansOnRealEstateLoansAbstract to label_MortgageLoansOnRealEstateLoansAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAfterYearFive" xlink:label="MortgageLoansOnRealEstateScheduledPrincipalPaymentsAfterYearFive" xlink:title="MortgageLoansOnRealEstateScheduledPrincipalPaymentsAfterYearFive" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAfterYearFive" xml:lang="en-US" id="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAfterYearFive">Mortgage Loans on Real Estate, Scheduled Principal Payments after Year Five</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateScheduledPrincipalPaymentsAfterYearFive" xlink:to="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAfterYearFive" xlink:title="label: MortgageLoansOnRealEstateScheduledPrincipalPaymentsAfterYearFive to label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAfterYearFive" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAfterYearFive_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAfterYearFive" xml:lang="en-US" id="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAfterYearFive_2">Represents the scheduled principal payment after year five following the date of the latest balance sheet presented in the financial statements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateScheduledPrincipalPaymentsAfterYearFive" xlink:to="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAfterYearFive_2" xlink:title="label: MortgageLoansOnRealEstateScheduledPrincipalPaymentsAfterYearFive to label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAfterYearFive" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAfterYearFive_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAfterYearFive" xml:lang="en-US" id="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAfterYearFive_3">Thereafter</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateScheduledPrincipalPaymentsAfterYearFive" xlink:to="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAfterYearFive_3" xlink:title="label: MortgageLoansOnRealEstateScheduledPrincipalPaymentsAfterYearFive to label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsAfterYearFive" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateScheduledPrincipalPaymentsCurrentFiscalYear" xlink:label="MortgageLoansOnRealEstateScheduledPrincipalPaymentsCurrentFiscalYear" xlink:title="MortgageLoansOnRealEstateScheduledPrincipalPaymentsCurrentFiscalYear" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsCurrentFiscalYear" xml:lang="en-US" id="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsCurrentFiscalYear">Represents the scheduled principal payment within one year following the date of the latest balance sheet presented in the financial statements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateScheduledPrincipalPaymentsCurrentFiscalYear" xlink:to="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsCurrentFiscalYear" xlink:title="label: MortgageLoansOnRealEstateScheduledPrincipalPaymentsCurrentFiscalYear to label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsCurrentFiscalYear" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsCurrentFiscalYear_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsCurrentFiscalYear" xml:lang="en-US" id="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsCurrentFiscalYear_2">Mortgage Loans on Real Estate, Scheduled Principal Payments Current Fiscal Year</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateScheduledPrincipalPaymentsCurrentFiscalYear" xlink:to="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsCurrentFiscalYear_2" xlink:title="label: MortgageLoansOnRealEstateScheduledPrincipalPaymentsCurrentFiscalYear to label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsCurrentFiscalYear" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsCurrentFiscalYear_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsCurrentFiscalYear" xml:lang="en-US" id="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsCurrentFiscalYear_3">2013</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateScheduledPrincipalPaymentsCurrentFiscalYear" xlink:to="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsCurrentFiscalYear_3" xlink:title="label: MortgageLoansOnRealEstateScheduledPrincipalPaymentsCurrentFiscalYear to label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsCurrentFiscalYear" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFive" xlink:label="MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFive" xlink:title="MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFive" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFive" xml:lang="en-US" id="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFive">Mortgage Loans on Real Estate, Scheduled Principal Payments Year Five</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFive" xlink:to="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFive" xlink:title="label: MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFive to label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFive" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFive_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFive" xml:lang="en-US" id="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFive_2">Represents the scheduled principal payment in year five following the date of the latest balance sheet presented in the financial statements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFive" xlink:to="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFive_2" xlink:title="label: MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFive to label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFive" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFive_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFive" xml:lang="en-US" id="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFive_3">2017</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFive" xlink:to="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFive_3" xlink:title="label: MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFive to label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFive" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFour" xlink:label="MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFour" xlink:title="MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFour" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFour" xml:lang="en-US" id="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFour">Mortgage Loans on Real Estate, Scheduled Principal Payments Year Four</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFour" xlink:to="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFour" xlink:title="label: MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFour to label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFour" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFour_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFour" xml:lang="en-US" id="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFour_2">Represents the scheduled principal payment in year four following the date of the latest balance sheet presented in the financial statements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFour" xlink:to="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFour_2" xlink:title="label: MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFour to label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFour" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFour_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFour" xml:lang="en-US" id="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFour_3">2016</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFour" xlink:to="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFour_3" xlink:title="label: MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFour to label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearFour" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearThree" xlink:label="MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearThree" xlink:title="MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearThree" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearThree" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearThree" xml:lang="en-US" id="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearThree">Represents the scheduled principal payment in year three following the date of the latest balance sheet presented in the financial statements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearThree" xlink:to="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearThree" xlink:title="label: MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearThree to label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearThree" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearThree_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearThree" xml:lang="en-US" id="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearThree_2">2015</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearThree" xlink:to="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearThree_2" xlink:title="label: MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearThree to label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearThree" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearThree_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearThree" xml:lang="en-US" id="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearThree_3">Mortgage Loans on Real Estate, Scheduled Principal Payments Year Three</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearThree" xlink:to="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearThree_3" xlink:title="label: MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearThree to label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearThree" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearTwo" xlink:label="MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearTwo" xlink:title="MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearTwo" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearTwo" xml:lang="en-US" id="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearTwo">Mortgage Loans on Real Estate, Scheduled Principal Payments Year Two</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearTwo" xlink:to="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearTwo" xlink:title="label: MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearTwo to label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearTwo" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearTwo_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearTwo" xml:lang="en-US" id="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearTwo_2">Represents the scheduled principal payment in year two following the date of the latest balance sheet presented in the financial statements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearTwo" xlink:to="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearTwo_2" xlink:title="label: MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearTwo to label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearTwo" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearTwo_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearTwo" xml:lang="en-US" id="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearTwo_3">2014</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearTwo" xlink:to="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearTwo_3" xlink:title="label: MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearTwo to label_MortgageLoansOnRealEstateScheduledPrincipalPaymentsYearTwo" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateWriteDownOrReserveNumberOfLoans" xlink:label="MortgageLoansOnRealEstateWriteDownOrReserveNumberOfLoans" xlink:title="MortgageLoansOnRealEstateWriteDownOrReserveNumberOfLoans" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateWriteDownOrReserveNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateWriteDownOrReserveNumberOfLoans" xml:lang="en-US" id="label_MortgageLoansOnRealEstateWriteDownOrReserveNumberOfLoans">Mortgage Loans on Real Estate, Write Down or Reserve Number of Loans</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateWriteDownOrReserveNumberOfLoans" xlink:to="label_MortgageLoansOnRealEstateWriteDownOrReserveNumberOfLoans" xlink:title="label: MortgageLoansOnRealEstateWriteDownOrReserveNumberOfLoans to label_MortgageLoansOnRealEstateWriteDownOrReserveNumberOfLoans" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateWriteDownOrReserveNumberOfLoans_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateWriteDownOrReserveNumberOfLoans" xml:lang="en-US" id="label_MortgageLoansOnRealEstateWriteDownOrReserveNumberOfLoans_2">Represents the number of mortgage loans on real estate on which any write-down or reserve has been provided during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateWriteDownOrReserveNumberOfLoans" xlink:to="label_MortgageLoansOnRealEstateWriteDownOrReserveNumberOfLoans_2" xlink:title="label: MortgageLoansOnRealEstateWriteDownOrReserveNumberOfLoans to label_MortgageLoansOnRealEstateWriteDownOrReserveNumberOfLoans" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateWriteDownOrReserveNumberOfLoans_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateWriteDownOrReserveNumberOfLoans" xml:lang="en-US" id="label_MortgageLoansOnRealEstateWriteDownOrReserveNumberOfLoans_3">Number of mortgage loans for which doubtful accounts charge have been created</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateWriteDownOrReserveNumberOfLoans" xlink:to="label_MortgageLoansOnRealEstateWriteDownOrReserveNumberOfLoans_3" xlink:title="label: MortgageLoansOnRealEstateWriteDownOrReserveNumberOfLoans to label_MortgageLoansOnRealEstateWriteDownOrReserveNumberOfLoans" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" xlink:label="MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" xlink:title="MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" xml:lang="en-US" id="label_MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate">Mortgage Loans Receivable, Fair Value Disclosure, Assumptions Used to Estimate Fair Value, Discount Rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" xlink:to="label_MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" xlink:title="label: MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate to label_MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" xml:lang="en-US" id="label_MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate_2">Discount rate used to value future cash inflows of the mortgage loans receivable (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" xlink:to="label_MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate_2" xlink:title="label: MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate to label_MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" xml:lang="en-US" id="label_MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate_3">Represents the percentage of discount rate used to value future cash inflows of the mortgage loans receivable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" xlink:to="label_MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate_3" xlink:title="label: MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate to label_MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NoncontrollingInterestPartnershipConversionRightsMarketValue" xlink:label="NoncontrollingInterestPartnershipConversionRightsMarketValue" xlink:title="NoncontrollingInterestPartnershipConversionRightsMarketValue" />
    <link:label xlink:type="resource" xlink:label="label_NoncontrollingInterestPartnershipConversionRightsMarketValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncontrollingInterestPartnershipConversionRightsMarketValue" xml:lang="en-US" id="label_NoncontrollingInterestPartnershipConversionRightsMarketValue">Noncontrolling Interest, Partnership Conversion Rights Market Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncontrollingInterestPartnershipConversionRightsMarketValue" xlink:to="label_NoncontrollingInterestPartnershipConversionRightsMarketValue" xlink:title="label: NoncontrollingInterestPartnershipConversionRightsMarketValue to label_NoncontrollingInterestPartnershipConversionRightsMarketValue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NoncontrollingInterestPartnershipConversionRightsMarketValue_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncontrollingInterestPartnershipConversionRightsMarketValue" xml:lang="en-US" id="label_NoncontrollingInterestPartnershipConversionRightsMarketValue_2">Market value of the partnership conversion rights</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncontrollingInterestPartnershipConversionRightsMarketValue" xlink:to="label_NoncontrollingInterestPartnershipConversionRightsMarketValue_2" xlink:title="label: NoncontrollingInterestPartnershipConversionRightsMarketValue to label_NoncontrollingInterestPartnershipConversionRightsMarketValue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NoncontrollingInterestPartnershipConversionRightsMarketValue_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NoncontrollingInterestPartnershipConversionRightsMarketValue" xml:lang="en-US" id="label_NoncontrollingInterestPartnershipConversionRightsMarketValue_3">Represents the market value of the partnership conversion rights.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncontrollingInterestPartnershipConversionRightsMarketValue" xlink:to="label_NoncontrollingInterestPartnershipConversionRightsMarketValue_3" xlink:title="label: NoncontrollingInterestPartnershipConversionRightsMarketValue to label_NoncontrollingInterestPartnershipConversionRightsMarketValue" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NotesReceivableNumberOfLoans" xlink:label="NotesReceivableNumberOfLoans" xlink:title="NotesReceivableNumberOfLoans" />
    <link:label xlink:type="resource" xlink:label="label_NotesReceivableNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NotesReceivableNumberOfLoans" xml:lang="en-US" id="label_NotesReceivableNumberOfLoans">Represent the number of loans outstanding under the notes receivable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotesReceivableNumberOfLoans" xlink:to="label_NotesReceivableNumberOfLoans" xlink:title="label: NotesReceivableNumberOfLoans to label_NotesReceivableNumberOfLoans" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NotesReceivableNumberOfLoans_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NotesReceivableNumberOfLoans" xml:lang="en-US" id="label_NotesReceivableNumberOfLoans_2">Notes Receivable, Number of Loans</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotesReceivableNumberOfLoans" xlink:to="label_NotesReceivableNumberOfLoans_2" xlink:title="label: NotesReceivableNumberOfLoans to label_NotesReceivableNumberOfLoans" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NotesReceivableNumberOfLoans_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NotesReceivableNumberOfLoans" xml:lang="en-US" id="label_NotesReceivableNumberOfLoans_3">Number of Loans</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotesReceivableNumberOfLoans" xlink:to="label_NotesReceivableNumberOfLoans_3" xlink:title="label: NotesReceivableNumberOfLoans to label_NotesReceivableNumberOfLoans" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NotesReceivableWeightedAverageInterestRate" xlink:label="NotesReceivableWeightedAverageInterestRate" xlink:title="NotesReceivableWeightedAverageInterestRate" />
    <link:label xlink:type="resource" xlink:label="label_NotesReceivableWeightedAverageInterestRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NotesReceivableWeightedAverageInterestRate" xml:lang="en-US" id="label_NotesReceivableWeightedAverageInterestRate">Represents the weighted average interest rate for notes receivable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotesReceivableWeightedAverageInterestRate" xlink:to="label_NotesReceivableWeightedAverageInterestRate" xlink:title="label: NotesReceivableWeightedAverageInterestRate to label_NotesReceivableWeightedAverageInterestRate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NotesReceivableWeightedAverageInterestRate_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NotesReceivableWeightedAverageInterestRate" xml:lang="en-US" id="label_NotesReceivableWeightedAverageInterestRate_2">Notes Receivable, Weighted Average Interest Rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotesReceivableWeightedAverageInterestRate" xlink:to="label_NotesReceivableWeightedAverageInterestRate_2" xlink:title="label: NotesReceivableWeightedAverageInterestRate to label_NotesReceivableWeightedAverageInterestRate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NotesReceivableWeightedAverageInterestRate_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NotesReceivableWeightedAverageInterestRate" xml:lang="en-US" id="label_NotesReceivableWeightedAverageInterestRate_3">Weighted Average Interest Rate (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotesReceivableWeightedAverageInterestRate" xlink:to="label_NotesReceivableWeightedAverageInterestRate_3" xlink:title="label: NotesReceivableWeightedAverageInterestRate to label_NotesReceivableWeightedAverageInterestRate" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NumberOfLimitedPartnersExercisingConversionRights" xlink:label="NumberOfLimitedPartnersExercisingConversionRights" xlink:title="NumberOfLimitedPartnersExercisingConversionRights" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfLimitedPartnersExercisingConversionRights" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfLimitedPartnersExercisingConversionRights" xml:lang="en-US" id="label_NumberOfLimitedPartnersExercisingConversionRights">Number of limited partners exercising conversion rights</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfLimitedPartnersExercisingConversionRights" xlink:to="label_NumberOfLimitedPartnersExercisingConversionRights" xlink:title="label: NumberOfLimitedPartnersExercisingConversionRights to label_NumberOfLimitedPartnersExercisingConversionRights" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfLimitedPartnersExercisingConversionRights_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfLimitedPartnersExercisingConversionRights" xml:lang="en-US" id="label_NumberOfLimitedPartnersExercisingConversionRights_2">Represents the number of limited partners who have exercised their conversion rights.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfLimitedPartnersExercisingConversionRights" xlink:to="label_NumberOfLimitedPartnersExercisingConversionRights_2" xlink:title="label: NumberOfLimitedPartnersExercisingConversionRights to label_NumberOfLimitedPartnersExercisingConversionRights" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfLimitedPartnersExercisingConversionRights_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfLimitedPartnersExercisingConversionRights" xml:lang="en-US" id="label_NumberOfLimitedPartnersExercisingConversionRights_3">Number of Limited Partners Exercising Conversion Rights</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfLimitedPartnersExercisingConversionRights" xlink:to="label_NumberOfLimitedPartnersExercisingConversionRights_3" xlink:title="label: NumberOfLimitedPartnersExercisingConversionRights to label_NumberOfLimitedPartnersExercisingConversionRights" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NumberOfLimitedPartnerships" xlink:label="NumberOfLimitedPartnerships" xlink:title="NumberOfLimitedPartnerships" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfLimitedPartnerships" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfLimitedPartnerships" xml:lang="en-US" id="label_NumberOfLimitedPartnerships">Number of Limited Partnerships</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfLimitedPartnerships" xlink:to="label_NumberOfLimitedPartnerships" xlink:title="label: NumberOfLimitedPartnerships to label_NumberOfLimitedPartnerships" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfLimitedPartnerships_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfLimitedPartnerships" xml:lang="en-US" id="label_NumberOfLimitedPartnerships_2">Number of limited partnerships</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfLimitedPartnerships" xlink:to="label_NumberOfLimitedPartnerships_2" xlink:title="label: NumberOfLimitedPartnerships to label_NumberOfLimitedPartnerships" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfLimitedPartnerships_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfLimitedPartnerships" xml:lang="en-US" id="label_NumberOfLimitedPartnerships_3">Represents the number of limited partnerships of the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfLimitedPartnerships" xlink:to="label_NumberOfLimitedPartnerships_3" xlink:title="label: NumberOfLimitedPartnerships to label_NumberOfLimitedPartnerships" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NumberOfMethodsConsideredForCalculationOfIncreaseInRents" xlink:label="NumberOfMethodsConsideredForCalculationOfIncreaseInRents" xlink:title="NumberOfMethodsConsideredForCalculationOfIncreaseInRents" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfMethodsConsideredForCalculationOfIncreaseInRents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfMethodsConsideredForCalculationOfIncreaseInRents" xml:lang="en-US" id="label_NumberOfMethodsConsideredForCalculationOfIncreaseInRents">Number of Methods Considered for Calculation of Increase in Rents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfMethodsConsideredForCalculationOfIncreaseInRents" xlink:to="label_NumberOfMethodsConsideredForCalculationOfIncreaseInRents" xlink:title="label: NumberOfMethodsConsideredForCalculationOfIncreaseInRents to label_NumberOfMethodsConsideredForCalculationOfIncreaseInRents" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfMethodsConsideredForCalculationOfIncreaseInRents_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfMethodsConsideredForCalculationOfIncreaseInRents" xml:lang="en-US" id="label_NumberOfMethodsConsideredForCalculationOfIncreaseInRents_2">Methods used for calculation of annual increases over the rents of the prior year</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfMethodsConsideredForCalculationOfIncreaseInRents" xlink:to="label_NumberOfMethodsConsideredForCalculationOfIncreaseInRents_2" xlink:title="label: NumberOfMethodsConsideredForCalculationOfIncreaseInRents to label_NumberOfMethodsConsideredForCalculationOfIncreaseInRents" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfMethodsConsideredForCalculationOfIncreaseInRents_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfMethodsConsideredForCalculationOfIncreaseInRents" xml:lang="en-US" id="label_NumberOfMethodsConsideredForCalculationOfIncreaseInRents_3">Represents the number of methods used in calculation of annual increase in rent over prior year's rent.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfMethodsConsideredForCalculationOfIncreaseInRents" xlink:to="label_NumberOfMethodsConsideredForCalculationOfIncreaseInRents_3" xlink:title="label: NumberOfMethodsConsideredForCalculationOfIncreaseInRents to label_NumberOfMethodsConsideredForCalculationOfIncreaseInRents" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NumberOfOperators" xlink:label="NumberOfOperators" xlink:title="NumberOfOperators" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfOperators" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfOperators" xml:lang="en-US" id="label_NumberOfOperators">Number of Operators</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfOperators" xlink:to="label_NumberOfOperators" xlink:title="label: NumberOfOperators to label_NumberOfOperators" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfOperators_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfOperators" xml:lang="en-US" id="label_NumberOfOperators_2">Number of major operators</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfOperators" xlink:to="label_NumberOfOperators_2" xlink:title="label: NumberOfOperators to label_NumberOfOperators" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfOperators_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfOperators" xml:lang="en-US" id="label_NumberOfOperators_3">The number of major operators of the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfOperators" xlink:to="label_NumberOfOperators_3" xlink:title="label: NumberOfOperators to label_NumberOfOperators" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NumberOfBedsOrUnitsInRealEstatePropertySold" xlink:label="NumberOfBedsOrUnitsInRealEstatePropertySold" xlink:title="NumberOfBedsOrUnitsInRealEstatePropertySold" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfBedsOrUnitsInRealEstatePropertySold" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfBedsOrUnitsInRealEstatePropertySold" xml:lang="en-US" id="label_NumberOfBedsOrUnitsInRealEstatePropertySold">Number of Beds or Units in Real Estate Property Sold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfBedsOrUnitsInRealEstatePropertySold" xlink:to="label_NumberOfBedsOrUnitsInRealEstatePropertySold" xlink:title="label: NumberOfBedsOrUnitsInRealEstatePropertySold to label_NumberOfBedsOrUnitsInRealEstatePropertySold" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfBedsOrUnitsInRealEstatePropertySold_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfBedsOrUnitsInRealEstatePropertySold" xml:lang="en-US" id="label_NumberOfBedsOrUnitsInRealEstatePropertySold_2">Number of beds or units in property sold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfBedsOrUnitsInRealEstatePropertySold" xlink:to="label_NumberOfBedsOrUnitsInRealEstatePropertySold_2" xlink:title="label: NumberOfBedsOrUnitsInRealEstatePropertySold to label_NumberOfBedsOrUnitsInRealEstatePropertySold" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfBedsOrUnitsInRealEstatePropertySold_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfBedsOrUnitsInRealEstatePropertySold" xml:lang="en-US" id="label_NumberOfBedsOrUnitsInRealEstatePropertySold_3">The number of beds or units in a real estate property sold by the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfBedsOrUnitsInRealEstatePropertySold" xlink:to="label_NumberOfBedsOrUnitsInRealEstatePropertySold_3" xlink:title="label: NumberOfBedsOrUnitsInRealEstatePropertySold to label_NumberOfBedsOrUnitsInRealEstatePropertySold" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NumberOfSkilledNursingPropertiesSold" xlink:label="NumberOfSkilledNursingPropertiesSold" xlink:title="NumberOfSkilledNursingPropertiesSold" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSkilledNursingPropertiesSold" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfSkilledNursingPropertiesSold" xml:lang="en-US" id="label_NumberOfSkilledNursingPropertiesSold">Number of skilled nursing properties sold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSkilledNursingPropertiesSold" xlink:to="label_NumberOfSkilledNursingPropertiesSold" xlink:title="label: NumberOfSkilledNursingPropertiesSold to label_NumberOfSkilledNursingPropertiesSold" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSkilledNursingPropertiesSold_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfSkilledNursingPropertiesSold" xml:lang="en-US" id="label_NumberOfSkilledNursingPropertiesSold_2">Represents the number of skilled nursing properties sold by the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSkilledNursingPropertiesSold" xlink:to="label_NumberOfSkilledNursingPropertiesSold_2" xlink:title="label: NumberOfSkilledNursingPropertiesSold to label_NumberOfSkilledNursingPropertiesSold" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSkilledNursingPropertiesSold_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfSkilledNursingPropertiesSold" xml:lang="en-US" id="label_NumberOfSkilledNursingPropertiesSold_3">Number of Skilled Nursing Properties Sold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSkilledNursingPropertiesSold" xlink:to="label_NumberOfSkilledNursingPropertiesSold_3" xlink:title="label: NumberOfSkilledNursingPropertiesSold to label_NumberOfSkilledNursingPropertiesSold" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_OperatingLeaseInitialTermMaximum" xlink:label="OperatingLeaseInitialTermMaximum" xlink:title="OperatingLeaseInitialTermMaximum" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeaseInitialTermMaximum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OperatingLeaseInitialTermMaximum" xml:lang="en-US" id="label_OperatingLeaseInitialTermMaximum">Operating Lease, Initial Term Maximum</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeaseInitialTermMaximum" xlink:to="label_OperatingLeaseInitialTermMaximum" xlink:title="label: OperatingLeaseInitialTermMaximum to label_OperatingLeaseInitialTermMaximum" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeaseInitialTermMaximum_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OperatingLeaseInitialTermMaximum" xml:lang="en-US" id="label_OperatingLeaseInitialTermMaximum_2">Initial term of non-cancelable operating lease, maximum</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeaseInitialTermMaximum" xlink:to="label_OperatingLeaseInitialTermMaximum_2" xlink:title="label: OperatingLeaseInitialTermMaximum to label_OperatingLeaseInitialTermMaximum" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeaseInitialTermMaximum_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OperatingLeaseInitialTermMaximum" xml:lang="en-US" id="label_OperatingLeaseInitialTermMaximum_3">Represents the maximum initial term of operating lease.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeaseInitialTermMaximum" xlink:to="label_OperatingLeaseInitialTermMaximum_3" xlink:title="label: OperatingLeaseInitialTermMaximum to label_OperatingLeaseInitialTermMaximum" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition" xlink:label="AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition" xlink:title="AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition" xml:lang="en-US" id="label_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition">Adjustments to Additional Paid in Capital, Share-based Compensation, Restricted Stock Unit or Restricted Stock Award, Requisite Service Period Recognition</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition" xlink:to="label_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition" xlink:title="label: AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition to label_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition" xml:lang="en-US" id="label_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition_2">Vested restricted stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition" xlink:to="label_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition_2" xlink:title="label: AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition to label_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_OperatingLeaseInitialTermMinimum" xlink:label="OperatingLeaseInitialTermMinimum" xlink:title="OperatingLeaseInitialTermMinimum" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeaseInitialTermMinimum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OperatingLeaseInitialTermMinimum" xml:lang="en-US" id="label_OperatingLeaseInitialTermMinimum">Operating Lease, Initial Term Minimum</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeaseInitialTermMinimum" xlink:to="label_OperatingLeaseInitialTermMinimum" xlink:title="label: OperatingLeaseInitialTermMinimum to label_OperatingLeaseInitialTermMinimum" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeaseInitialTermMinimum_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OperatingLeaseInitialTermMinimum" xml:lang="en-US" id="label_OperatingLeaseInitialTermMinimum_2">Represents the minimum initial term of operating lease.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeaseInitialTermMinimum" xlink:to="label_OperatingLeaseInitialTermMinimum_2" xlink:title="label: OperatingLeaseInitialTermMinimum to label_OperatingLeaseInitialTermMinimum" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeaseInitialTermMinimum_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OperatingLeaseInitialTermMinimum" xml:lang="en-US" id="label_OperatingLeaseInitialTermMinimum_3">Initial term of non-cancelable operating lease, minimum</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeaseInitialTermMinimum" xlink:to="label_OperatingLeaseInitialTermMinimum_3" xlink:title="label: OperatingLeaseInitialTermMinimum to label_OperatingLeaseInitialTermMinimum" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_OperatingLeaseInitialTerm" xlink:label="OperatingLeaseInitialTerm" xlink:title="OperatingLeaseInitialTerm" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeaseInitialTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OperatingLeaseInitialTerm" xml:lang="en-US" id="label_OperatingLeaseInitialTerm">Operating Lease Initial Term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeaseInitialTerm" xlink:to="label_OperatingLeaseInitialTerm" xlink:title="label: OperatingLeaseInitialTerm to label_OperatingLeaseInitialTerm" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeaseInitialTerm_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OperatingLeaseInitialTerm" xml:lang="en-US" id="label_OperatingLeaseInitialTerm_2">Initial term of non-cancelable operating lease</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeaseInitialTerm" xlink:to="label_OperatingLeaseInitialTerm_2" xlink:title="label: OperatingLeaseInitialTerm to label_OperatingLeaseInitialTerm" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeaseInitialTerm_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OperatingLeaseInitialTerm" xml:lang="en-US" id="label_OperatingLeaseInitialTerm_3">Represents the initial term of operating lease.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeaseInitialTerm" xlink:to="label_OperatingLeaseInitialTerm_3" xlink:title="label: OperatingLeaseInitialTerm to label_OperatingLeaseInitialTerm" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_OperatingRealEstatePropertyNet" xlink:label="OperatingRealEstatePropertyNet" xlink:title="OperatingRealEstatePropertyNet" />
    <link:label xlink:type="resource" xlink:label="label_OperatingRealEstatePropertyNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_OperatingRealEstatePropertyNet" xml:lang="en-US" id="label_OperatingRealEstatePropertyNet">Net operating real estate property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingRealEstatePropertyNet" xlink:to="label_OperatingRealEstatePropertyNet" xlink:title="label: OperatingRealEstatePropertyNet to label_OperatingRealEstatePropertyNet" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OperatingRealEstatePropertyNet_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OperatingRealEstatePropertyNet" xml:lang="en-US" id="label_OperatingRealEstatePropertyNet_2">Operating Real Estate Property, Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingRealEstatePropertyNet" xlink:to="label_OperatingRealEstatePropertyNet_2" xlink:title="label: OperatingRealEstatePropertyNet to label_OperatingRealEstatePropertyNet" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OperatingRealEstatePropertyNet_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OperatingRealEstatePropertyNet" xml:lang="en-US" id="label_OperatingRealEstatePropertyNet_3">This element represents operating portion of real estate property forming part of the assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingRealEstatePropertyNet" xlink:to="label_OperatingRealEstatePropertyNet_3" xlink:title="label: OperatingRealEstatePropertyNet to label_OperatingRealEstatePropertyNet" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_OperatorConcentrationRiskMember" xlink:label="OperatorConcentrationRiskMember" xlink:title="OperatorConcentrationRiskMember" />
    <link:label xlink:type="resource" xlink:label="label_OperatorConcentrationRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OperatorConcentrationRiskMember" xml:lang="en-US" id="label_OperatorConcentrationRiskMember">Operators</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatorConcentrationRiskMember" xlink:to="label_OperatorConcentrationRiskMember" xlink:title="label: OperatorConcentrationRiskMember to label_OperatorConcentrationRiskMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OperatorConcentrationRiskMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OperatorConcentrationRiskMember" xml:lang="en-US" id="label_OperatorConcentrationRiskMember_2">Reflects the percentage that revenues during the period from one or more significant operators is to net revenues, as defined by the entity, such as total net revenues, product line revenues, segment revenues. The risk is the materially adverse effect of loss of a significant operator.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatorConcentrationRiskMember" xlink:to="label_OperatorConcentrationRiskMember_2" xlink:title="label: OperatorConcentrationRiskMember to label_OperatorConcentrationRiskMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OperatorConcentrationRiskMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OperatorConcentrationRiskMember" xml:lang="en-US" id="label_OperatorConcentrationRiskMember_3">Operator Concentration Risk [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatorConcentrationRiskMember" xlink:to="label_OperatorConcentrationRiskMember_3" xlink:title="label: OperatorConcentrationRiskMember to label_OperatorConcentrationRiskMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_PercentageOfConvertiblePreferredStockRedeemed" xlink:label="PercentageOfConvertiblePreferredStockRedeemed" xlink:title="PercentageOfConvertiblePreferredStockRedeemed" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfConvertiblePreferredStockRedeemed" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfConvertiblePreferredStockRedeemed" xml:lang="en-US" id="label_PercentageOfConvertiblePreferredStockRedeemed">Percentage of Convertible Preferred Stock Redeemed</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfConvertiblePreferredStockRedeemed" xlink:to="label_PercentageOfConvertiblePreferredStockRedeemed" xlink:title="label: PercentageOfConvertiblePreferredStockRedeemed to label_PercentageOfConvertiblePreferredStockRedeemed" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfConvertiblePreferredStockRedeemed_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfConvertiblePreferredStockRedeemed" xml:lang="en-US" id="label_PercentageOfConvertiblePreferredStockRedeemed_2">Represents the percentage of preferred stock redeemed to the total preferred stock outstanding.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfConvertiblePreferredStockRedeemed" xlink:to="label_PercentageOfConvertiblePreferredStockRedeemed_2" xlink:title="label: PercentageOfConvertiblePreferredStockRedeemed to label_PercentageOfConvertiblePreferredStockRedeemed" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfConvertiblePreferredStockRedeemed_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfConvertiblePreferredStockRedeemed" xml:lang="en-US" id="label_PercentageOfConvertiblePreferredStockRedeemed_3">Percentage of outstanding shares redeemed</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfConvertiblePreferredStockRedeemed" xlink:to="label_PercentageOfConvertiblePreferredStockRedeemed_3" xlink:title="label: PercentageOfConvertiblePreferredStockRedeemed to label_PercentageOfConvertiblePreferredStockRedeemed" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_PercentageOfTaxableIncomeRequiredToBeDistributedByREIT" xlink:label="PercentageOfTaxableIncomeRequiredToBeDistributedByREIT" xlink:title="PercentageOfTaxableIncomeRequiredToBeDistributedByREIT" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfTaxableIncomeRequiredToBeDistributedByREIT" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfTaxableIncomeRequiredToBeDistributedByREIT" xml:lang="en-US" id="label_PercentageOfTaxableIncomeRequiredToBeDistributedByREIT">Percentage of Taxable Income Required to be Distributed by REIT</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfTaxableIncomeRequiredToBeDistributedByREIT" xlink:to="label_PercentageOfTaxableIncomeRequiredToBeDistributedByREIT" xlink:title="label: PercentageOfTaxableIncomeRequiredToBeDistributedByREIT to label_PercentageOfTaxableIncomeRequiredToBeDistributedByREIT" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfTaxableIncomeRequiredToBeDistributedByREIT_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfTaxableIncomeRequiredToBeDistributedByREIT" xml:lang="en-US" id="label_PercentageOfTaxableIncomeRequiredToBeDistributedByREIT_2">Minimum distribution of taxable income (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfTaxableIncomeRequiredToBeDistributedByREIT" xlink:to="label_PercentageOfTaxableIncomeRequiredToBeDistributedByREIT_2" xlink:title="label: PercentageOfTaxableIncomeRequiredToBeDistributedByREIT to label_PercentageOfTaxableIncomeRequiredToBeDistributedByREIT" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfTaxableIncomeRequiredToBeDistributedByREIT_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfTaxableIncomeRequiredToBeDistributedByREIT" xml:lang="en-US" id="label_PercentageOfTaxableIncomeRequiredToBeDistributedByREIT_3">Represents the percentage of taxable income to be distributed in order to continue to qualify as a REIT.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfTaxableIncomeRequiredToBeDistributedByREIT" xlink:to="label_PercentageOfTaxableIncomeRequiredToBeDistributedByREIT_3" xlink:title="label: PercentageOfTaxableIncomeRequiredToBeDistributedByREIT to label_PercentageOfTaxableIncomeRequiredToBeDistributedByREIT" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_PeriodConsideredForDeterminingTaxabilityOfDistributions" xlink:label="PeriodConsideredForDeterminingTaxabilityOfDistributions" xlink:title="PeriodConsideredForDeterminingTaxabilityOfDistributions" />
    <link:label xlink:type="resource" xlink:label="label_PeriodConsideredForDeterminingTaxabilityOfDistributions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PeriodConsideredForDeterminingTaxabilityOfDistributions" xml:lang="en-US" id="label_PeriodConsideredForDeterminingTaxabilityOfDistributions">Period considered for determining the taxability of distributions to shareholders</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodConsideredForDeterminingTaxabilityOfDistributions" xlink:to="label_PeriodConsideredForDeterminingTaxabilityOfDistributions" xlink:title="label: PeriodConsideredForDeterminingTaxabilityOfDistributions to label_PeriodConsideredForDeterminingTaxabilityOfDistributions" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PeriodConsideredForDeterminingTaxabilityOfDistributions_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PeriodConsideredForDeterminingTaxabilityOfDistributions" xml:lang="en-US" id="label_PeriodConsideredForDeterminingTaxabilityOfDistributions_2">Period considered for determining the taxability of distributions to shareholders</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodConsideredForDeterminingTaxabilityOfDistributions" xlink:to="label_PeriodConsideredForDeterminingTaxabilityOfDistributions_2" xlink:title="label: PeriodConsideredForDeterminingTaxabilityOfDistributions to label_PeriodConsideredForDeterminingTaxabilityOfDistributions" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PeriodConsideredForDeterminingTaxabilityOfDistributions_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PeriodConsideredForDeterminingTaxabilityOfDistributions" xml:lang="en-US" id="label_PeriodConsideredForDeterminingTaxabilityOfDistributions_3">Period Considered for Determining Taxability of Distributions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodConsideredForDeterminingTaxabilityOfDistributions" xlink:to="label_PeriodConsideredForDeterminingTaxabilityOfDistributions_3" xlink:title="label: PeriodConsideredForDeterminingTaxabilityOfDistributions to label_PeriodConsideredForDeterminingTaxabilityOfDistributions" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_PreferredCareMember" xlink:label="PreferredCareMember" xlink:title="PreferredCareMember" />
    <link:label xlink:type="resource" xlink:label="label_PreferredCareMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PreferredCareMember" xml:lang="en-US" id="label_PreferredCareMember">Preferred Care</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredCareMember" xlink:to="label_PreferredCareMember" xlink:title="label: PreferredCareMember to label_PreferredCareMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PreferredCareMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PreferredCareMember" xml:lang="en-US" id="label_PreferredCareMember_2">Represents the information pertaining to Preferred Care, Inc.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredCareMember" xlink:to="label_PreferredCareMember_2" xlink:title="label: PreferredCareMember to label_PreferredCareMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PreferredCareMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferredCareMember" xml:lang="en-US" id="label_PreferredCareMember_3">Preferred Care [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredCareMember" xlink:to="label_PreferredCareMember_3" xlink:title="label: PreferredCareMember to label_PreferredCareMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_PreferredStockRedemptionCharge" xlink:label="PreferredStockRedemptionCharge" xlink:title="PreferredStockRedemptionCharge" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockRedemptionCharge" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferredStockRedemptionCharge" xml:lang="en-US" id="label_PreferredStockRedemptionCharge">Preferred Stock, Redemption Charge</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockRedemptionCharge" xlink:to="label_PreferredStockRedemptionCharge" xlink:title="label: PreferredStockRedemptionCharge to label_PreferredStockRedemptionCharge" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockRedemptionCharge_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PreferredStockRedemptionCharge" xml:lang="en-US" id="label_PreferredStockRedemptionCharge_2">Preferred stock redemption charge</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockRedemptionCharge" xlink:to="label_PreferredStockRedemptionCharge_2" xlink:title="label: PreferredStockRedemptionCharge to label_PreferredStockRedemptionCharge" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockRedemptionCharge_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PreferredStockRedemptionCharge" xml:lang="en-US" id="label_PreferredStockRedemptionCharge_3">Represents the cost related to redemption of preferred stocks.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockRedemptionCharge" xlink:to="label_PreferredStockRedemptionCharge_3" xlink:title="label: PreferredStockRedemptionCharge to label_PreferredStockRedemptionCharge" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_PropertyPlantAndEquipmentUsefulLifeForIncomeTax" xlink:label="PropertyPlantAndEquipmentUsefulLifeForIncomeTax" xlink:title="PropertyPlantAndEquipmentUsefulLifeForIncomeTax" />
    <link:label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipmentUsefulLifeForIncomeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PropertyPlantAndEquipmentUsefulLifeForIncomeTax" xml:lang="en-US" id="label_PropertyPlantAndEquipmentUsefulLifeForIncomeTax">Period considered for calculation of depreciation for federal tax purpose</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentUsefulLifeForIncomeTax" xlink:to="label_PropertyPlantAndEquipmentUsefulLifeForIncomeTax" xlink:title="label: PropertyPlantAndEquipmentUsefulLifeForIncomeTax to label_PropertyPlantAndEquipmentUsefulLifeForIncomeTax" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipmentUsefulLifeForIncomeTax_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PropertyPlantAndEquipmentUsefulLifeForIncomeTax" xml:lang="en-US" id="label_PropertyPlantAndEquipmentUsefulLifeForIncomeTax_2">Property, Plant and Equipment, Useful Life for Income Tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentUsefulLifeForIncomeTax" xlink:to="label_PropertyPlantAndEquipmentUsefulLifeForIncomeTax_2" xlink:title="label: PropertyPlantAndEquipmentUsefulLifeForIncomeTax to label_PropertyPlantAndEquipmentUsefulLifeForIncomeTax" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipmentUsefulLifeForIncomeTax_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PropertyPlantAndEquipmentUsefulLifeForIncomeTax" xml:lang="en-US" id="label_PropertyPlantAndEquipmentUsefulLifeForIncomeTax_3">Represents the average useful life considered for income tax purpose, of long-lived, physical assets used in the normal conduct of business and not intended for resale.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentUsefulLifeForIncomeTax" xlink:to="label_PropertyPlantAndEquipmentUsefulLifeForIncomeTax_3" xlink:title="label: PropertyPlantAndEquipmentUsefulLifeForIncomeTax to label_PropertyPlantAndEquipmentUsefulLifeForIncomeTax" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RealEstateInvestmentPropertyPercentage" xlink:label="RealEstateInvestmentPropertyPercentage" xlink:title="RealEstateInvestmentPropertyPercentage" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestmentPropertyPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateInvestmentPropertyPercentage" xml:lang="en-US" id="label_RealEstateInvestmentPropertyPercentage">Investment in real estate properties (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentPropertyPercentage" xlink:to="label_RealEstateInvestmentPropertyPercentage" xlink:title="label: RealEstateInvestmentPropertyPercentage to label_RealEstateInvestmentPropertyPercentage" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestmentPropertyPercentage_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateInvestmentPropertyPercentage" xml:lang="en-US" id="label_RealEstateInvestmentPropertyPercentage_2">Real Estate Investment Property Percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentPropertyPercentage" xlink:to="label_RealEstateInvestmentPropertyPercentage_2" xlink:title="label: RealEstateInvestmentPropertyPercentage to label_RealEstateInvestmentPropertyPercentage" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RealEstateInvestmentsNumberOfOperatorsInStates" xlink:label="RealEstateInvestmentsNumberOfOperatorsInStates" xlink:title="RealEstateInvestmentsNumberOfOperatorsInStates" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestmentsNumberOfOperatorsInStates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateInvestmentsNumberOfOperatorsInStates" xml:lang="en-US" id="label_RealEstateInvestmentsNumberOfOperatorsInStates">Real Estate Investments, Number of Operators in States</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentsNumberOfOperatorsInStates" xlink:to="label_RealEstateInvestmentsNumberOfOperatorsInStates" xlink:title="label: RealEstateInvestmentsNumberOfOperatorsInStates to label_RealEstateInvestmentsNumberOfOperatorsInStates" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestmentsNumberOfOperatorsInStates_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RealEstateInvestmentsNumberOfOperatorsInStates" xml:lang="en-US" id="label_RealEstateInvestmentsNumberOfOperatorsInStates_2">Represents the number of operators associated with certain investments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentsNumberOfOperatorsInStates" xlink:to="label_RealEstateInvestmentsNumberOfOperatorsInStates_2" xlink:title="label: RealEstateInvestmentsNumberOfOperatorsInStates to label_RealEstateInvestmentsNumberOfOperatorsInStates" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestmentsNumberOfOperatorsInStates_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateInvestmentsNumberOfOperatorsInStates" xml:lang="en-US" id="label_RealEstateInvestmentsNumberOfOperatorsInStates_3">Number of operators</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentsNumberOfOperatorsInStates" xlink:to="label_RealEstateInvestmentsNumberOfOperatorsInStates_3" xlink:title="label: RealEstateInvestmentsNumberOfOperatorsInStates to label_RealEstateInvestmentsNumberOfOperatorsInStates" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RealEstateInvestmentsNumberOfStates" xlink:label="RealEstateInvestmentsNumberOfStates" xlink:title="RealEstateInvestmentsNumberOfStates" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestmentsNumberOfStates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateInvestmentsNumberOfStates" xml:lang="en-US" id="label_RealEstateInvestmentsNumberOfStates">Real Estate Investments, Number of States</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentsNumberOfStates" xlink:to="label_RealEstateInvestmentsNumberOfStates" xlink:title="label: RealEstateInvestmentsNumberOfStates to label_RealEstateInvestmentsNumberOfStates" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestmentsNumberOfStates_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateInvestmentsNumberOfStates" xml:lang="en-US" id="label_RealEstateInvestmentsNumberOfStates_2">Number of states</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentsNumberOfStates" xlink:to="label_RealEstateInvestmentsNumberOfStates_2" xlink:title="label: RealEstateInvestmentsNumberOfStates to label_RealEstateInvestmentsNumberOfStates" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestmentsNumberOfStates_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RealEstateInvestmentsNumberOfStates" xml:lang="en-US" id="label_RealEstateInvestmentsNumberOfStates_3">Represents the number of states in which the entity has invested.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentsNumberOfStates" xlink:to="label_RealEstateInvestmentsNumberOfStates_3" xlink:title="label: RealEstateInvestmentsNumberOfStates to label_RealEstateInvestmentsNumberOfStates" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RealEstateInvestmentsPerUnit" xlink:label="RealEstateInvestmentsPerUnit" xlink:title="RealEstateInvestmentsPerUnit" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestmentsPerUnit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateInvestmentsPerUnit" xml:lang="en-US" id="label_RealEstateInvestmentsPerUnit">Real Estate Investments, Per Unit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentsPerUnit" xlink:to="label_RealEstateInvestmentsPerUnit" xlink:title="label: RealEstateInvestmentsPerUnit to label_RealEstateInvestmentsPerUnit" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestmentsPerUnit_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateInvestmentsPerUnit" xml:lang="en-US" id="label_RealEstateInvestmentsPerUnit_2">Investment per Bed/Unit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentsPerUnit" xlink:to="label_RealEstateInvestmentsPerUnit_2" xlink:title="label: RealEstateInvestmentsPerUnit to label_RealEstateInvestmentsPerUnit" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestmentsPerUnit_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RealEstateInvestmentsPerUnit" xml:lang="en-US" id="label_RealEstateInvestmentsPerUnit_3">Represents the per unit investment in real estate held solely for investment purposes.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentsPerUnit" xlink:to="label_RealEstateInvestmentsPerUnit_3" xlink:title="label: RealEstateInvestmentsPerUnit to label_RealEstateInvestmentsPerUnit" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RealEstateInvestmentsPercentage" xlink:label="RealEstateInvestmentsPercentage" xlink:title="RealEstateInvestmentsPercentage" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestmentsPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateInvestmentsPercentage" xml:lang="en-US" id="label_RealEstateInvestmentsPercentage">Real Estate Investments, Percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentsPercentage" xlink:to="label_RealEstateInvestmentsPercentage" xlink:title="label: RealEstateInvestmentsPercentage to label_RealEstateInvestmentsPercentage" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestmentsPercentage_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateInvestmentsPercentage" xml:lang="en-US" id="label_RealEstateInvestmentsPercentage_2">Percentage of Investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentsPercentage" xlink:to="label_RealEstateInvestmentsPercentage_2" xlink:title="label: RealEstateInvestmentsPercentage to label_RealEstateInvestmentsPercentage" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestmentsPercentage_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RealEstateInvestmentsPercentage" xml:lang="en-US" id="label_RealEstateInvestmentsPercentage_3">Represents the Investments in real estate held solely for investment purposes expressed as percentage.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentsPercentage" xlink:to="label_RealEstateInvestmentsPercentage_3" xlink:title="label: RealEstateInvestmentsPercentage to label_RealEstateInvestmentsPercentage" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RealEstateUnitsByTypeAxis" xlink:label="RealEstateUnitsByTypeAxis" xlink:title="RealEstateUnitsByTypeAxis" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateUnitsByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateUnitsByTypeAxis" xml:lang="en-US" id="label_RealEstateUnitsByTypeAxis">Real Estate Units by Type [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateUnitsByTypeAxis" xlink:to="label_RealEstateUnitsByTypeAxis" xlink:title="label: RealEstateUnitsByTypeAxis to label_RealEstateUnitsByTypeAxis" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateUnitsByTypeAxis_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RealEstateUnitsByTypeAxis" xml:lang="en-US" id="label_RealEstateUnitsByTypeAxis_2">Represents units of real estate properties segregated by types of units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateUnitsByTypeAxis" xlink:to="label_RealEstateUnitsByTypeAxis_2" xlink:title="label: RealEstateUnitsByTypeAxis to label_RealEstateUnitsByTypeAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RealEstateUnitsTypeDomain" xlink:label="RealEstateUnitsTypeDomain" xlink:title="RealEstateUnitsTypeDomain" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateUnitsTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateUnitsTypeDomain" xml:lang="en-US" id="label_RealEstateUnitsTypeDomain">Real Estate Units, Type [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateUnitsTypeDomain" xlink:to="label_RealEstateUnitsTypeDomain" xlink:title="label: RealEstateUnitsTypeDomain to label_RealEstateUnitsTypeDomain" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateUnitsTypeDomain_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RealEstateUnitsTypeDomain" xml:lang="en-US" id="label_RealEstateUnitsTypeDomain_2">Represents units of real estate properties segregated by types of units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateUnitsTypeDomain" xlink:to="label_RealEstateUnitsTypeDomain_2" xlink:title="label: RealEstateUnitsTypeDomain to label_RealEstateUnitsTypeDomain" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue" xlink:label="RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue" xlink:title="RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue" />
    <link:label xlink:type="resource" xlink:label="label_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue" xml:lang="en-US" id="label_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue">Redemption of Noncontrolling Interest Excess of Redemption Value over Book Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue" xlink:to="label_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue" xlink:title="label: RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue to label_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue" xml:lang="en-US" id="label_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue_2">Represents the excess of the redemption value over the book value of the noncontrolling interest redeemed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue" xlink:to="label_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue_2" xlink:title="label: RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue to label_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue" xml:lang="en-US" id="label_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue_3">Excess of redemption value over the book value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue" xlink:to="label_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue_3" xlink:title="label: RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue to label_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest" xlink:label="NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest" xlink:title="NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest" />
    <link:label xlink:type="resource" xlink:label="label_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest">Net Income (Loss) after Adjustment to Conversion of Noncontrolling Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest" xlink:to="label_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest" xlink:title="label: NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest to label_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest_2">Change from net income attributable to LTC Properties, Inc. and transfers from non-controlling interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest" xlink:to="label_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest_2" xlink:title="label: NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest to label_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest_3">Represents the net income (loss) attributable to the parent entity after adjustment to conversion of noncontrolling interest.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest" xlink:to="label_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest_3" xlink:title="label: NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest to label_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_IncreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" xlink:label="IncreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" xlink:title="IncreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_IncreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest">Increase in Additional Paid in Capital, Conversion of Noncontrolling Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" xlink:to="label_IncreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" xlink:title="label: IncreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest to label_IncreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_IncreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest_2">Transfers from the non-controlling interest: Increase in paid-in capital for limited partners conversion</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" xlink:to="label_IncreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest_2" xlink:title="label: IncreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest to label_IncreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_IncreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest_3">Represents the increase in additional paid in capital as a result of the conversion of noncontrolling interest.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" xlink:to="label_IncreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest_3" xlink:title="label: IncreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest to label_IncreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" xlink:label="DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" xlink:title="DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" />
    <link:label xlink:type="resource" xlink:label="label_DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest">Decrease in Additional Paid in Capital, Conversion of Noncontrolling Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" xlink:to="label_DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" xlink:title="label: DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest to label_DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest_2">Represents the decrease in additional paid in capital as a result of the conversion of noncontrolling interest.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" xlink:to="label_DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest_2" xlink:title="label: DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest to label_DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest_3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest_3">Transfers from the non-controlling interest: Decrease in paid-in capital for limited partners conversion</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" xlink:to="label_DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest_3" xlink:title="label: DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest to label_DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RegisteredDirectPlacementMember" xlink:label="RegisteredDirectPlacementMember" xlink:title="RegisteredDirectPlacementMember" />
    <link:label xlink:type="resource" xlink:label="label_RegisteredDirectPlacementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RegisteredDirectPlacementMember" xml:lang="en-US" id="label_RegisteredDirectPlacementMember">Registered Direct Placement [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RegisteredDirectPlacementMember" xlink:to="label_RegisteredDirectPlacementMember" xlink:title="label: RegisteredDirectPlacementMember to label_RegisteredDirectPlacementMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RegisteredDirectPlacementMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RegisteredDirectPlacementMember" xml:lang="en-US" id="label_RegisteredDirectPlacementMember_2">Registered Direct Placement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RegisteredDirectPlacementMember" xlink:to="label_RegisteredDirectPlacementMember_2" xlink:title="label: RegisteredDirectPlacementMember to label_RegisteredDirectPlacementMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RegisteredDirectPlacementMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RegisteredDirectPlacementMember" xml:lang="en-US" id="label_RegisteredDirectPlacementMember_3">Represents the registered direct placement to certain institutional investors.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RegisteredDirectPlacementMember" xlink:to="label_RegisteredDirectPlacementMember_3" xlink:title="label: RegisteredDirectPlacementMember to label_RegisteredDirectPlacementMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty" xlink:label="RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty" xlink:title="RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty" />
    <link:label xlink:type="resource" xlink:label="label_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty" xml:lang="en-US" id="label_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty">Related Party Transaction, Interest Income from Transactions with Related Party</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty" xlink:to="label_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty" xlink:title="label: RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty to label_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty" xml:lang="en-US" id="label_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty_2">Represents interest income from an entity that qualifies as a related party.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty" xlink:to="label_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty_2" xlink:title="label: RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty to label_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty" xml:lang="en-US" id="label_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty_3">Interest income from an entity that qualifies as a related party</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty" xlink:to="label_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty_3" xlink:title="label: RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty to label_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty" xml:lang="en-US" id="label_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty_4">Interest income related to senior subordinated notes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty" xlink:to="label_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty_4" xlink:title="label: RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty to label_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity" xlink:label="RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity" xlink:title="RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity" />
    <link:label xlink:type="resource" xlink:label="label_RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity" xml:lang="en-US" id="label_RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity">Related Party Transaction, Number of Directors Serving as Chief Executive Officer of Related Entity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity" xlink:to="label_RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity" xlink:title="label: RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity to label_RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity" xml:lang="en-US" id="label_RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity_2">Number of directors serving as chief executive officer of related entity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity" xlink:to="label_RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity_2" xlink:title="label: RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity to label_RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity" xml:lang="en-US" id="label_RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity_3">Represents the number of directors serving as chief executive officer of an entity that qualifies as a related party.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity" xlink:to="label_RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity_3" xlink:title="label: RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity to label_RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty" xlink:label="RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty" xlink:title="RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty" />
    <link:label xlink:type="resource" xlink:label="label_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty" xml:lang="en-US" id="label_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty">Related Party Transaction, Rental Income from Transactions with Related Party</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty" xlink:to="label_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty" xlink:title="label: RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty to label_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty" xml:lang="en-US" id="label_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty_2">Represents rental income from an entity that qualifies as a related party.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty" xlink:to="label_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty_2" xlink:title="label: RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty to label_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty" xml:lang="en-US" id="label_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty_3">Rental income from a lessee that qualifies as a related party</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty" xlink:to="label_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty_3" xlink:title="label: RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty to label_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty" xml:lang="en-US" id="label_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty_4">Rental income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty" xlink:to="label_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty_4" xlink:title="label: RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty to label_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty" xlink:label="RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty" xlink:title="RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty" />
    <link:label xlink:type="resource" xlink:label="label_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty" xml:lang="en-US" id="label_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty">Related Party Transaction, Straight Line Rental Income from Transactions with Related Party</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty" xlink:to="label_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty" xlink:title="label: RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty to label_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty" xml:lang="en-US" id="label_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty_2">Represents straight line rental income from an entity that qualifies as a related party.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty" xlink:to="label_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty_2" xlink:title="label: RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty to label_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty" xml:lang="en-US" id="label_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty_3">Straight-line rental income from a lessee that qualifies as a related party</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty" xlink:to="label_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty_3" xlink:title="label: RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty to label_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty" xml:lang="en-US" id="label_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty_4">Straight-line rental income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty" xlink:to="label_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty_4" xlink:title="label: RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty to label_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RentalRevenueAndInterestIncomeFromMortgageLoansMember" xlink:label="RentalRevenueAndInterestIncomeFromMortgageLoansMember" xlink:title="RentalRevenueAndInterestIncomeFromMortgageLoansMember" />
    <link:label xlink:type="resource" xlink:label="label_RentalRevenueAndInterestIncomeFromMortgageLoansMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RentalRevenueAndInterestIncomeFromMortgageLoansMember" xml:lang="en-US" id="label_RentalRevenueAndInterestIncomeFromMortgageLoansMember">Represents rental revenue and interest income from mortgage loans.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RentalRevenueAndInterestIncomeFromMortgageLoansMember" xlink:to="label_RentalRevenueAndInterestIncomeFromMortgageLoansMember" xlink:title="label: RentalRevenueAndInterestIncomeFromMortgageLoansMember to label_RentalRevenueAndInterestIncomeFromMortgageLoansMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RentalRevenueAndInterestIncomeFromMortgageLoansMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RentalRevenueAndInterestIncomeFromMortgageLoansMember" xml:lang="en-US" id="label_RentalRevenueAndInterestIncomeFromMortgageLoansMember_2">Rent and Interest Revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RentalRevenueAndInterestIncomeFromMortgageLoansMember" xlink:to="label_RentalRevenueAndInterestIncomeFromMortgageLoansMember_2" xlink:title="label: RentalRevenueAndInterestIncomeFromMortgageLoansMember to label_RentalRevenueAndInterestIncomeFromMortgageLoansMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RentalRevenueAndInterestIncomeFromMortgageLoansMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RentalRevenueAndInterestIncomeFromMortgageLoansMember" xml:lang="en-US" id="label_RentalRevenueAndInterestIncomeFromMortgageLoansMember_3">Rental Revenue and Interest Income from Mortgage Loans [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RentalRevenueAndInterestIncomeFromMortgageLoansMember" xlink:to="label_RentalRevenueAndInterestIncomeFromMortgageLoansMember_3" xlink:title="label: RentalRevenueAndInterestIncomeFromMortgageLoansMember to label_RentalRevenueAndInterestIncomeFromMortgageLoansMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RepaymentOfMortgageLoanReceivableMember" xlink:label="RepaymentOfMortgageLoanReceivableMember" xlink:title="RepaymentOfMortgageLoanReceivableMember" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentOfMortgageLoanReceivableMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RepaymentOfMortgageLoanReceivableMember" xml:lang="en-US" id="label_RepaymentOfMortgageLoanReceivableMember">Repayment of Mortgage Loan Receivable [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentOfMortgageLoanReceivableMember" xlink:to="label_RepaymentOfMortgageLoanReceivableMember" xlink:title="label: RepaymentOfMortgageLoanReceivableMember to label_RepaymentOfMortgageLoanReceivableMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentOfMortgageLoanReceivableMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RepaymentOfMortgageLoanReceivableMember" xml:lang="en-US" id="label_RepaymentOfMortgageLoanReceivableMember_2">Repayment of mortgage loan receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentOfMortgageLoanReceivableMember" xlink:to="label_RepaymentOfMortgageLoanReceivableMember_2" xlink:title="label: RepaymentOfMortgageLoanReceivableMember to label_RepaymentOfMortgageLoanReceivableMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentOfMortgageLoanReceivableMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RepaymentOfMortgageLoanReceivableMember" xml:lang="en-US" id="label_RepaymentOfMortgageLoanReceivableMember_3">Represents the full or partial repayment of a mortgage loan receivable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentOfMortgageLoanReceivableMember" xlink:to="label_RepaymentOfMortgageLoanReceivableMember_3" xlink:title="label: RepaymentOfMortgageLoanReceivableMember to label_RepaymentOfMortgageLoanReceivableMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RangeOfCarePropertiesMember" xlink:label="RangeOfCarePropertiesMember" xlink:title="RangeOfCarePropertiesMember" />
    <link:label xlink:type="resource" xlink:label="label_RangeOfCarePropertiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RangeOfCarePropertiesMember" xml:lang="en-US" id="label_RangeOfCarePropertiesMember">Range of Care Properties [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RangeOfCarePropertiesMember" xlink:to="label_RangeOfCarePropertiesMember" xlink:title="label: RangeOfCarePropertiesMember to label_RangeOfCarePropertiesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RangeOfCarePropertiesMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RangeOfCarePropertiesMember" xml:lang="en-US" id="label_RangeOfCarePropertiesMember_2">Range of Care</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RangeOfCarePropertiesMember" xlink:to="label_RangeOfCarePropertiesMember_2" xlink:title="label: RangeOfCarePropertiesMember to label_RangeOfCarePropertiesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RangeOfCarePropertiesMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RangeOfCarePropertiesMember" xml:lang="en-US" id="label_RangeOfCarePropertiesMember_3">Represents information pertaining to range of care properties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RangeOfCarePropertiesMember" xlink:to="label_RangeOfCarePropertiesMember_3" xlink:title="label: RangeOfCarePropertiesMember to label_RangeOfCarePropertiesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RangeOfCarePropertiesMember_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_RangeOfCarePropertiesMember" xml:lang="en-US" id="label_RangeOfCarePropertiesMember_4">Range of Care Properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RangeOfCarePropertiesMember" xlink:to="label_RangeOfCarePropertiesMember_4" xlink:title="label: RangeOfCarePropertiesMember to label_RangeOfCarePropertiesMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SaleOfCommonStockPricePerShare" xlink:label="SaleOfCommonStockPricePerShare" xlink:title="SaleOfCommonStockPricePerShare" />
    <link:label xlink:type="resource" xlink:label="label_SaleOfCommonStockPricePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SaleOfCommonStockPricePerShare" xml:lang="en-US" id="label_SaleOfCommonStockPricePerShare">Sale price of common stock (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SaleOfCommonStockPricePerShare" xlink:to="label_SaleOfCommonStockPricePerShare" xlink:title="label: SaleOfCommonStockPricePerShare to label_SaleOfCommonStockPricePerShare" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SaleOfCommonStockPricePerShare_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SaleOfCommonStockPricePerShare" xml:lang="en-US" id="label_SaleOfCommonStockPricePerShare_2">Sale of Common Stock Price Per Share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SaleOfCommonStockPricePerShare" xlink:to="label_SaleOfCommonStockPricePerShare_2" xlink:title="label: SaleOfCommonStockPricePerShare to label_SaleOfCommonStockPricePerShare" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SaleOfCommonStockPricePerShare_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SaleOfCommonStockPricePerShare" xml:lang="en-US" id="label_SaleOfCommonStockPricePerShare_3">Represents the per share price paid, excluding costs incurred, for the offering and issuance of common stock.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SaleOfCommonStockPricePerShare" xlink:to="label_SaleOfCommonStockPricePerShare_3" xlink:title="label: SaleOfCommonStockPricePerShare to label_SaleOfCommonStockPricePerShare" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SaleOfStockAxis" xlink:label="SaleOfStockAxis" xlink:title="SaleOfStockAxis" />
    <link:label xlink:type="resource" xlink:label="label_SaleOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SaleOfStockAxis" xml:lang="en-US" id="label_SaleOfStockAxis">Sale of Stock [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SaleOfStockAxis" xlink:to="label_SaleOfStockAxis" xlink:title="label: SaleOfStockAxis to label_SaleOfStockAxis" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SaleOfStockAxis_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SaleOfStockAxis" xml:lang="en-US" id="label_SaleOfStockAxis_2">Information by type of transaction involving the sale of stock.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SaleOfStockAxis" xlink:to="label_SaleOfStockAxis_2" xlink:title="label: SaleOfStockAxis to label_SaleOfStockAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SaleOfStockByTypeOfTransactionDomain" xlink:label="SaleOfStockByTypeOfTransactionDomain" xlink:title="SaleOfStockByTypeOfTransactionDomain" />
    <link:label xlink:type="resource" xlink:label="label_SaleOfStockByTypeOfTransactionDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SaleOfStockByTypeOfTransactionDomain" xml:lang="en-US" id="label_SaleOfStockByTypeOfTransactionDomain">Sale of Stock by Type of Transaction [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SaleOfStockByTypeOfTransactionDomain" xlink:to="label_SaleOfStockByTypeOfTransactionDomain" xlink:title="label: SaleOfStockByTypeOfTransactionDomain to label_SaleOfStockByTypeOfTransactionDomain" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SaleOfStockByTypeOfTransactionDomain_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SaleOfStockByTypeOfTransactionDomain" xml:lang="en-US" id="label_SaleOfStockByTypeOfTransactionDomain_2">Type of stock transaction.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SaleOfStockByTypeOfTransactionDomain" xlink:to="label_SaleOfStockByTypeOfTransactionDomain_2" xlink:title="label: SaleOfStockByTypeOfTransactionDomain to label_SaleOfStockByTypeOfTransactionDomain" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ScheduleOfCapitalImprovementAndLoanCommitmentsTable" xlink:label="ScheduleOfCapitalImprovementAndLoanCommitmentsTable" xlink:title="ScheduleOfCapitalImprovementAndLoanCommitmentsTable" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfCapitalImprovementAndLoanCommitmentsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfCapitalImprovementAndLoanCommitmentsTable" xml:lang="en-US" id="label_ScheduleOfCapitalImprovementAndLoanCommitmentsTable">Schedule of Capital Improvement and Loan Commitments [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfCapitalImprovementAndLoanCommitmentsTable" xlink:to="label_ScheduleOfCapitalImprovementAndLoanCommitmentsTable" xlink:title="label: ScheduleOfCapitalImprovementAndLoanCommitmentsTable to label_ScheduleOfCapitalImprovementAndLoanCommitmentsTable" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfCapitalImprovementAndLoanCommitmentsTable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ScheduleOfCapitalImprovementAndLoanCommitmentsTable" xml:lang="en-US" id="label_ScheduleOfCapitalImprovementAndLoanCommitmentsTable_2">Tabular disclosure of commitments made by the entity in respect of loan and capital improvements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfCapitalImprovementAndLoanCommitmentsTable" xlink:to="label_ScheduleOfCapitalImprovementAndLoanCommitmentsTable_2" xlink:title="label: ScheduleOfCapitalImprovementAndLoanCommitmentsTable to label_ScheduleOfCapitalImprovementAndLoanCommitmentsTable" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SummaryOfSignificantAccountingPoliciesTable" xlink:label="SummaryOfSignificantAccountingPoliciesTable" xlink:title="SummaryOfSignificantAccountingPoliciesTable" />
    <link:label xlink:type="resource" xlink:label="label_SummaryOfSignificantAccountingPoliciesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SummaryOfSignificantAccountingPoliciesTable" xml:lang="en-US" id="label_SummaryOfSignificantAccountingPoliciesTable">Summary of Significant Accounting Policies [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SummaryOfSignificantAccountingPoliciesTable" xlink:to="label_SummaryOfSignificantAccountingPoliciesTable" xlink:title="label: SummaryOfSignificantAccountingPoliciesTable to label_SummaryOfSignificantAccountingPoliciesTable" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SummaryOfSignificantAccountingPoliciesTable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SummaryOfSignificantAccountingPoliciesTable" xml:lang="en-US" id="label_SummaryOfSignificantAccountingPoliciesTable_2">Describes the entire disclosure for all significant accounting policies of the reporting entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SummaryOfSignificantAccountingPoliciesTable" xlink:to="label_SummaryOfSignificantAccountingPoliciesTable_2" xlink:title="label: SummaryOfSignificantAccountingPoliciesTable to label_SummaryOfSignificantAccountingPoliciesTable" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ScheduleOfCapitalImprovementCommitmentsTableTextBlock" xlink:label="ScheduleOfCapitalImprovementCommitmentsTableTextBlock" xlink:title="ScheduleOfCapitalImprovementCommitmentsTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfCapitalImprovementCommitmentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfCapitalImprovementCommitmentsTableTextBlock" xml:lang="en-US" id="label_ScheduleOfCapitalImprovementCommitmentsTableTextBlock">Schedule of Capital Improvement Commitments [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfCapitalImprovementCommitmentsTableTextBlock" xlink:to="label_ScheduleOfCapitalImprovementCommitmentsTableTextBlock" xlink:title="label: ScheduleOfCapitalImprovementCommitmentsTableTextBlock to label_ScheduleOfCapitalImprovementCommitmentsTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfCapitalImprovementCommitmentsTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScheduleOfCapitalImprovementCommitmentsTableTextBlock" xml:lang="en-US" id="label_ScheduleOfCapitalImprovementCommitmentsTableTextBlock_2">Summary of capital improvement commitments and investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfCapitalImprovementCommitmentsTableTextBlock" xlink:to="label_ScheduleOfCapitalImprovementCommitmentsTableTextBlock_2" xlink:title="label: ScheduleOfCapitalImprovementCommitmentsTableTextBlock to label_ScheduleOfCapitalImprovementCommitmentsTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfCapitalImprovementCommitmentsTableTextBlock_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ScheduleOfCapitalImprovementCommitmentsTableTextBlock" xml:lang="en-US" id="label_ScheduleOfCapitalImprovementCommitmentsTableTextBlock_3">Tabular disclosure of key provisions of an arrangement under which the entity has agreed to make capital improvements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfCapitalImprovementCommitmentsTableTextBlock" xlink:to="label_ScheduleOfCapitalImprovementCommitmentsTableTextBlock_3" xlink:title="label: ScheduleOfCapitalImprovementCommitmentsTableTextBlock to label_ScheduleOfCapitalImprovementCommitmentsTableTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ScheduleOfDividendDistributionsTableTextBlock" xlink:label="ScheduleOfDividendDistributionsTableTextBlock" xlink:title="ScheduleOfDividendDistributionsTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfDividendDistributionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfDividendDistributionsTableTextBlock" xml:lang="en-US" id="label_ScheduleOfDividendDistributionsTableTextBlock">Schedule of Dividend Distributions [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfDividendDistributionsTableTextBlock" xlink:to="label_ScheduleOfDividendDistributionsTableTextBlock" xlink:title="label: ScheduleOfDividendDistributionsTableTextBlock to label_ScheduleOfDividendDistributionsTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfDividendDistributionsTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScheduleOfDividendDistributionsTableTextBlock" xml:lang="en-US" id="label_ScheduleOfDividendDistributionsTableTextBlock_2">Schedule of cash dividends declared and paid</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfDividendDistributionsTableTextBlock" xlink:to="label_ScheduleOfDividendDistributionsTableTextBlock_2" xlink:title="label: ScheduleOfDividendDistributionsTableTextBlock to label_ScheduleOfDividendDistributionsTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfDividendDistributionsTableTextBlock_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ScheduleOfDividendDistributionsTableTextBlock" xml:lang="en-US" id="label_ScheduleOfDividendDistributionsTableTextBlock_3">Tabular disclosure of all or some of the information related to dividends declared and paid, as of the financial reporting date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfDividendDistributionsTableTextBlock" xlink:to="label_ScheduleOfDividendDistributionsTableTextBlock_3" xlink:title="label: ScheduleOfDividendDistributionsTableTextBlock to label_ScheduleOfDividendDistributionsTableTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ScheduleOfFinancialInformationByMajorOperatorsTableTextBlock" xlink:label="ScheduleOfFinancialInformationByMajorOperatorsTableTextBlock" xlink:title="ScheduleOfFinancialInformationByMajorOperatorsTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfFinancialInformationByMajorOperatorsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfFinancialInformationByMajorOperatorsTableTextBlock" xml:lang="en-US" id="label_ScheduleOfFinancialInformationByMajorOperatorsTableTextBlock">Schedule of Financial Information by Major Operators [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfFinancialInformationByMajorOperatorsTableTextBlock" xlink:to="label_ScheduleOfFinancialInformationByMajorOperatorsTableTextBlock" xlink:title="label: ScheduleOfFinancialInformationByMajorOperatorsTableTextBlock to label_ScheduleOfFinancialInformationByMajorOperatorsTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfFinancialInformationByMajorOperatorsTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScheduleOfFinancialInformationByMajorOperatorsTableTextBlock" xml:lang="en-US" id="label_ScheduleOfFinancialInformationByMajorOperatorsTableTextBlock_2">Table of financial information per the operators public filings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfFinancialInformationByMajorOperatorsTableTextBlock" xlink:to="label_ScheduleOfFinancialInformationByMajorOperatorsTableTextBlock_2" xlink:title="label: ScheduleOfFinancialInformationByMajorOperatorsTableTextBlock to label_ScheduleOfFinancialInformationByMajorOperatorsTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfFinancialInformationByMajorOperatorsTableTextBlock_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ScheduleOfFinancialInformationByMajorOperatorsTableTextBlock" xml:lang="en-US" id="label_ScheduleOfFinancialInformationByMajorOperatorsTableTextBlock_3">Tabular disclosure of summarized financial information of major operators.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfFinancialInformationByMajorOperatorsTableTextBlock" xlink:to="label_ScheduleOfFinancialInformationByMajorOperatorsTableTextBlock_3" xlink:title="label: ScheduleOfFinancialInformationByMajorOperatorsTableTextBlock to label_ScheduleOfFinancialInformationByMajorOperatorsTableTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock" xlink:label="ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock" xlink:title="ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock" xml:lang="en-US" id="label_ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock">Schedule of Income Tax Classification of Dividend Distributions Per Common Stock [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock" xlink:to="label_ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock" xlink:title="label: ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock to label_ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock" xml:lang="en-US" id="label_ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock_2">Schedule of federal income tax classification of the per share common stock distributions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock" xlink:to="label_ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock_2" xlink:title="label: ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock to label_ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock" xml:lang="en-US" id="label_ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock_3">Tabular disclosure of income tax classification of the per share common stock dividend distributions into ordinary taxable distribution, return of capital, unrecaptured Section 1250 gain and long term capital gain.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock" xlink:to="label_ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock_3" xlink:title="label: ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock to label_ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock" xlink:label="ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock" xlink:title="ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock" xml:lang="en-US" id="label_ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock">Tabular disclosure of the entity's investment in mortgage loans secured by first mortgages on real estate properties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock" xlink:to="label_ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock" xlink:title="label: ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock to label_ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock" xml:lang="en-US" id="label_ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock_2">Schedule of Investments in Mortgage Loans Secured by First Mortgages [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock" xlink:to="label_ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock_2" xlink:title="label: ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock to label_ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock" xml:lang="en-US" id="label_ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock_3">Summary of investments in mortgage loans secured by first mortgages</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock" xlink:to="label_ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock_3" xlink:title="label: ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock to label_ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock" xlink:label="ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock" xlink:title="ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock" xml:lang="en-US" id="label_ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock">Schedule of Investments in Owned Properties [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock" xlink:to="label_ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock" xlink:title="label: ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock to label_ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock" xml:lang="en-US" id="label_ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock_2">Summary of investments in owned properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock" xlink:to="label_ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock_2" xlink:title="label: ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock to label_ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock" xml:lang="en-US" id="label_ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock_3">Tabular disclosure of the entity's investment in owned properties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock" xlink:to="label_ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock_3" xlink:title="label: ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock to label_ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NumberOfRangeOfCareProperties" xlink:label="NumberOfRangeOfCareProperties" xlink:title="NumberOfRangeOfCareProperties" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfRangeOfCareProperties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfRangeOfCareProperties" xml:lang="en-US" id="label_NumberOfRangeOfCareProperties">Number of Range of Care Properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfRangeOfCareProperties" xlink:to="label_NumberOfRangeOfCareProperties" xlink:title="label: NumberOfRangeOfCareProperties to label_NumberOfRangeOfCareProperties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfRangeOfCareProperties_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfRangeOfCareProperties" xml:lang="en-US" id="label_NumberOfRangeOfCareProperties_2">Number of range of care properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfRangeOfCareProperties" xlink:to="label_NumberOfRangeOfCareProperties_2" xlink:title="label: NumberOfRangeOfCareProperties to label_NumberOfRangeOfCareProperties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfRangeOfCareProperties_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfRangeOfCareProperties" xml:lang="en-US" id="label_NumberOfRangeOfCareProperties_3">Represents the number of range of care properties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfRangeOfCareProperties" xlink:to="label_NumberOfRangeOfCareProperties_3" xlink:title="label: NumberOfRangeOfCareProperties to label_NumberOfRangeOfCareProperties" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NumberOfVacantParcelsOfLand" xlink:label="NumberOfVacantParcelsOfLand" xlink:title="NumberOfVacantParcelsOfLand" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfVacantParcelsOfLand" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfVacantParcelsOfLand" xml:lang="en-US" id="label_NumberOfVacantParcelsOfLand">Vacant parcels of land</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfVacantParcelsOfLand" xlink:to="label_NumberOfVacantParcelsOfLand" xlink:title="label: NumberOfVacantParcelsOfLand to label_NumberOfVacantParcelsOfLand" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfVacantParcelsOfLand_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfVacantParcelsOfLand" xml:lang="en-US" id="label_NumberOfVacantParcelsOfLand_2">Represents the number of vacant parcels of land.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfVacantParcelsOfLand" xlink:to="label_NumberOfVacantParcelsOfLand_2" xlink:title="label: NumberOfVacantParcelsOfLand to label_NumberOfVacantParcelsOfLand" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfVacantParcelsOfLand_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfVacantParcelsOfLand" xml:lang="en-US" id="label_NumberOfVacantParcelsOfLand_3">Number of Vacant Parcels of Land</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfVacantParcelsOfLand" xlink:to="label_NumberOfVacantParcelsOfLand_3" xlink:title="label: NumberOfVacantParcelsOfLand to label_NumberOfVacantParcelsOfLand" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ScheduleOfLoanCommitmentsTableTextBlock" xlink:label="ScheduleOfLoanCommitmentsTableTextBlock" xlink:title="ScheduleOfLoanCommitmentsTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfLoanCommitmentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScheduleOfLoanCommitmentsTableTextBlock" xml:lang="en-US" id="label_ScheduleOfLoanCommitmentsTableTextBlock">Summary of loan commitments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfLoanCommitmentsTableTextBlock" xlink:to="label_ScheduleOfLoanCommitmentsTableTextBlock" xlink:title="label: ScheduleOfLoanCommitmentsTableTextBlock to label_ScheduleOfLoanCommitmentsTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfLoanCommitmentsTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfLoanCommitmentsTableTextBlock" xml:lang="en-US" id="label_ScheduleOfLoanCommitmentsTableTextBlock_2">Schedule of Loan Commitments [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfLoanCommitmentsTableTextBlock" xlink:to="label_ScheduleOfLoanCommitmentsTableTextBlock_2" xlink:title="label: ScheduleOfLoanCommitmentsTableTextBlock to label_ScheduleOfLoanCommitmentsTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfLoanCommitmentsTableTextBlock_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ScheduleOfLoanCommitmentsTableTextBlock" xml:lang="en-US" id="label_ScheduleOfLoanCommitmentsTableTextBlock_3">Tabular disclosure of the loan commitments of the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfLoanCommitmentsTableTextBlock" xlink:to="label_ScheduleOfLoanCommitmentsTableTextBlock_3" xlink:title="label: ScheduleOfLoanCommitmentsTableTextBlock to label_ScheduleOfLoanCommitmentsTableTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ScheduleOfRealEstatePropertiesAcquiredTableTextBlock" xlink:label="ScheduleOfRealEstatePropertiesAcquiredTableTextBlock" xlink:title="ScheduleOfRealEstatePropertiesAcquiredTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfRealEstatePropertiesAcquiredTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ScheduleOfRealEstatePropertiesAcquiredTableTextBlock" xml:lang="en-US" id="label_ScheduleOfRealEstatePropertiesAcquiredTableTextBlock">Tabular disclosure of real estate properties acquired by the entity during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfRealEstatePropertiesAcquiredTableTextBlock" xlink:to="label_ScheduleOfRealEstatePropertiesAcquiredTableTextBlock" xlink:title="label: ScheduleOfRealEstatePropertiesAcquiredTableTextBlock to label_ScheduleOfRealEstatePropertiesAcquiredTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfRealEstatePropertiesAcquiredTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfRealEstatePropertiesAcquiredTableTextBlock" xml:lang="en-US" id="label_ScheduleOfRealEstatePropertiesAcquiredTableTextBlock_2">Schedule of Real Estate Properties Acquired [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfRealEstatePropertiesAcquiredTableTextBlock" xlink:to="label_ScheduleOfRealEstatePropertiesAcquiredTableTextBlock_2" xlink:title="label: ScheduleOfRealEstatePropertiesAcquiredTableTextBlock to label_ScheduleOfRealEstatePropertiesAcquiredTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfRealEstatePropertiesAcquiredTableTextBlock_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScheduleOfRealEstatePropertiesAcquiredTableTextBlock" xml:lang="en-US" id="label_ScheduleOfRealEstatePropertiesAcquiredTableTextBlock_3">Summary of acquisitions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfRealEstatePropertiesAcquiredTableTextBlock" xlink:to="label_ScheduleOfRealEstatePropertiesAcquiredTableTextBlock_3" xlink:title="label: ScheduleOfRealEstatePropertiesAcquiredTableTextBlock to label_ScheduleOfRealEstatePropertiesAcquiredTableTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedExercisePriceAxis" xlink:label="ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedExercisePriceAxis" xlink:title="ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedExercisePriceAxis" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedExercisePriceAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedExercisePriceAxis" xml:lang="en-US" id="label_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedExercisePriceAxis">Reflects required information pertaining to awards granted under equity-based compensation plans, by exercise price.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedExercisePriceAxis" xlink:to="label_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedExercisePriceAxis" xlink:title="label: ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedExercisePriceAxis to label_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedExercisePriceAxis" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedExercisePriceAxis_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedExercisePriceAxis" xml:lang="en-US" id="label_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedExercisePriceAxis_2">Schedule of Share Based Compensation Arrangement by Share Based Payment Award, Award, Granted Exercise Price [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedExercisePriceAxis" xlink:to="label_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedExercisePriceAxis_2" xlink:title="label: ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedExercisePriceAxis to label_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedExercisePriceAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ScheduleOfShareBasedCompensationStockOptionsExercisedTableTextBlock" xlink:label="ScheduleOfShareBasedCompensationStockOptionsExercisedTableTextBlock" xlink:title="ScheduleOfShareBasedCompensationStockOptionsExercisedTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfShareBasedCompensationStockOptionsExercisedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfShareBasedCompensationStockOptionsExercisedTableTextBlock" xml:lang="en-US" id="label_ScheduleOfShareBasedCompensationStockOptionsExercisedTableTextBlock">Schedule of Share Based Compensation Stock Options Exercised [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfShareBasedCompensationStockOptionsExercisedTableTextBlock" xlink:to="label_ScheduleOfShareBasedCompensationStockOptionsExercisedTableTextBlock" xlink:title="label: ScheduleOfShareBasedCompensationStockOptionsExercisedTableTextBlock to label_ScheduleOfShareBasedCompensationStockOptionsExercisedTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfShareBasedCompensationStockOptionsExercisedTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScheduleOfShareBasedCompensationStockOptionsExercisedTableTextBlock" xml:lang="en-US" id="label_ScheduleOfShareBasedCompensationStockOptionsExercisedTableTextBlock_2">Schedule of options exercised</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfShareBasedCompensationStockOptionsExercisedTableTextBlock" xlink:to="label_ScheduleOfShareBasedCompensationStockOptionsExercisedTableTextBlock_2" xlink:title="label: ScheduleOfShareBasedCompensationStockOptionsExercisedTableTextBlock to label_ScheduleOfShareBasedCompensationStockOptionsExercisedTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfShareBasedCompensationStockOptionsExercisedTableTextBlock_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ScheduleOfShareBasedCompensationStockOptionsExercisedTableTextBlock" xml:lang="en-US" id="label_ScheduleOfShareBasedCompensationStockOptionsExercisedTableTextBlock_3">Tabular disclosure of the number and weighted average exercise prices (or conversion ratios) along with option value and market value for share options (or share units) that were exercised during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfShareBasedCompensationStockOptionsExercisedTableTextBlock" xlink:to="label_ScheduleOfShareBasedCompensationStockOptionsExercisedTableTextBlock_3" xlink:title="label: ScheduleOfShareBasedCompensationStockOptionsExercisedTableTextBlock to label_ScheduleOfShareBasedCompensationStockOptionsExercisedTableTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RestrictedStockGrantedTableTextBlock" xlink:label="RestrictedStockGrantedTableTextBlock" xlink:title="RestrictedStockGrantedTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_RestrictedStockGrantedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RestrictedStockGrantedTableTextBlock" xml:lang="en-US" id="label_RestrictedStockGrantedTableTextBlock">Restricted Stock Granted [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedStockGrantedTableTextBlock" xlink:to="label_RestrictedStockGrantedTableTextBlock" xlink:title="label: RestrictedStockGrantedTableTextBlock to label_RestrictedStockGrantedTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RestrictedStockGrantedTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RestrictedStockGrantedTableTextBlock" xml:lang="en-US" id="label_RestrictedStockGrantedTableTextBlock_2">Schedule of restricted stock granted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedStockGrantedTableTextBlock" xlink:to="label_RestrictedStockGrantedTableTextBlock_2" xlink:title="label: RestrictedStockGrantedTableTextBlock to label_RestrictedStockGrantedTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RestrictedStockGrantedTableTextBlock_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RestrictedStockGrantedTableTextBlock" xml:lang="en-US" id="label_RestrictedStockGrantedTableTextBlock_3">Tabular disclosure of number of shares granted, price per share and vesting period for each lot of restricted stock granted.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedStockGrantedTableTextBlock" xlink:to="label_RestrictedStockGrantedTableTextBlock_3" xlink:title="label: RestrictedStockGrantedTableTextBlock to label_RestrictedStockGrantedTableTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SchoolsMember" xlink:label="SchoolsMember" xlink:title="SchoolsMember" />
    <link:label xlink:type="resource" xlink:label="label_SchoolsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SchoolsMember" xml:lang="en-US" id="label_SchoolsMember">Schools</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SchoolsMember" xlink:to="label_SchoolsMember" xlink:title="label: SchoolsMember to label_SchoolsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SchoolsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SchoolsMember" xml:lang="en-US" id="label_SchoolsMember_2">Represents information pertaining to schools.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SchoolsMember" xlink:to="label_SchoolsMember_2" xlink:title="label: SchoolsMember to label_SchoolsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SchoolsMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SchoolsMember" xml:lang="en-US" id="label_SchoolsMember_3">Schools [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SchoolsMember" xlink:to="label_SchoolsMember_3" xlink:title="label: SchoolsMember to label_SchoolsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SecuredDebtBondsPayable" xlink:label="SecuredDebtBondsPayable" xlink:title="SecuredDebtBondsPayable" />
    <link:label xlink:type="resource" xlink:label="label_SecuredDebtBondsPayable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SecuredDebtBondsPayable" xml:lang="en-US" id="label_SecuredDebtBondsPayable">Bonds payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SecuredDebtBondsPayable" xlink:to="label_SecuredDebtBondsPayable" xlink:title="label: SecuredDebtBondsPayable to label_SecuredDebtBondsPayable" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SecuredDebtBondsPayable_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SecuredDebtBondsPayable" xml:lang="en-US" id="label_SecuredDebtBondsPayable_2">Secured Debt, Bonds Payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SecuredDebtBondsPayable" xlink:to="label_SecuredDebtBondsPayable_2" xlink:title="label: SecuredDebtBondsPayable to label_SecuredDebtBondsPayable" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SecuredDebtBondsPayable_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SecuredDebtBondsPayable" xml:lang="en-US" id="label_SecuredDebtBondsPayable_3">Carrying value as of the balance sheet date, including the current and noncurrent portions, of collateralized bonds payable (with maturities initially due after one year or beyond the operating cycle, if longer) secured by assets of the borrower.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SecuredDebtBondsPayable" xlink:to="label_SecuredDebtBondsPayable_3" xlink:title="label: SecuredDebtBondsPayable to label_SecuredDebtBondsPayable" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SeniorHousingPropertiesMember" xlink:label="SeniorHousingPropertiesMember" xlink:title="SeniorHousingPropertiesMember" />
    <link:label xlink:type="resource" xlink:label="label_SeniorHousingPropertiesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_SeniorHousingPropertiesMember" xml:lang="en-US" id="label_SeniorHousingPropertiesMember">Senior housing properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorHousingPropertiesMember" xlink:to="label_SeniorHousingPropertiesMember" xlink:title="label: SeniorHousingPropertiesMember to label_SeniorHousingPropertiesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SeniorHousingPropertiesMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeniorHousingPropertiesMember" xml:lang="en-US" id="label_SeniorHousingPropertiesMember_2">Senior Housing</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorHousingPropertiesMember" xlink:to="label_SeniorHousingPropertiesMember_2" xlink:title="label: SeniorHousingPropertiesMember to label_SeniorHousingPropertiesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SeniorHousingPropertiesMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SeniorHousingPropertiesMember" xml:lang="en-US" id="label_SeniorHousingPropertiesMember_3">Represents the information pertaining to senior housing properties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorHousingPropertiesMember" xlink:to="label_SeniorHousingPropertiesMember_3" xlink:title="label: SeniorHousingPropertiesMember to label_SeniorHousingPropertiesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SeniorHousingPropertiesMember_4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeniorHousingPropertiesMember" xml:lang="en-US" id="label_SeniorHousingPropertiesMember_4">Senior Housing Properties [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorHousingPropertiesMember" xlink:to="label_SeniorHousingPropertiesMember_4" xlink:title="label: SeniorHousingPropertiesMember to label_SeniorHousingPropertiesMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SeniorUnsecuredTermNotes5.26PercentDue14July2015Member" xlink:label="SeniorUnsecuredTermNotes5.26PercentDue14July2015Member" xlink:title="SeniorUnsecuredTermNotes5.26PercentDue14July2015Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredTermNotes5.26PercentDue14July2015Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeniorUnsecuredTermNotes5.26PercentDue14July2015Member" xml:lang="en-US" id="label_SeniorUnsecuredTermNotes5.26PercentDue14July2015Member">5.26% senior unsecured term notes due July 14, 2015</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredTermNotes5.26PercentDue14July2015Member" xlink:to="label_SeniorUnsecuredTermNotes5.26PercentDue14July2015Member" xlink:title="label: SeniorUnsecuredTermNotes5.26PercentDue14July2015Member to label_SeniorUnsecuredTermNotes5.26PercentDue14July2015Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredTermNotes5.26PercentDue14July2015Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeniorUnsecuredTermNotes5.26PercentDue14July2015Member" xml:lang="en-US" id="label_SeniorUnsecuredTermNotes5.26PercentDue14July2015Member_2">Senior Unsecured Term Notes 5.26 Percent Due 14 July 2015 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredTermNotes5.26PercentDue14July2015Member" xlink:to="label_SeniorUnsecuredTermNotes5.26PercentDue14July2015Member_2" xlink:title="label: SeniorUnsecuredTermNotes5.26PercentDue14July2015Member to label_SeniorUnsecuredTermNotes5.26PercentDue14July2015Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredTermNotes5.26PercentDue14July2015Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SeniorUnsecuredTermNotes5.26PercentDue14July2015Member" xml:lang="en-US" id="label_SeniorUnsecuredTermNotes5.26PercentDue14July2015Member_3">Represents the senior unsecured term notes bearing an interest of 5.26 percent due July 14, 2015.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredTermNotes5.26PercentDue14July2015Member" xlink:to="label_SeniorUnsecuredTermNotes5.26PercentDue14July2015Member_3" xlink:title="label: SeniorUnsecuredTermNotes5.26PercentDue14July2015Member to label_SeniorUnsecuredTermNotes5.26PercentDue14July2015Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SeniorUnsecuredTermNotes5.74PercentDue14January2019Member" xlink:label="SeniorUnsecuredTermNotes5.74PercentDue14January2019Member" xlink:title="SeniorUnsecuredTermNotes5.74PercentDue14January2019Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredTermNotes5.74PercentDue14January2019Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SeniorUnsecuredTermNotes5.74PercentDue14January2019Member" xml:lang="en-US" id="label_SeniorUnsecuredTermNotes5.74PercentDue14January2019Member">Represents the senior unsecured term notes bearing an interest of 5.74 percent due January 19, 2019.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredTermNotes5.74PercentDue14January2019Member" xlink:to="label_SeniorUnsecuredTermNotes5.74PercentDue14January2019Member" xlink:title="label: SeniorUnsecuredTermNotes5.74PercentDue14January2019Member to label_SeniorUnsecuredTermNotes5.74PercentDue14January2019Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredTermNotes5.74PercentDue14January2019Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeniorUnsecuredTermNotes5.74PercentDue14January2019Member" xml:lang="en-US" id="label_SeniorUnsecuredTermNotes5.74PercentDue14January2019Member_2">5.74% senior unsecured term notes due January 14, 2019</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredTermNotes5.74PercentDue14January2019Member" xlink:to="label_SeniorUnsecuredTermNotes5.74PercentDue14January2019Member_2" xlink:title="label: SeniorUnsecuredTermNotes5.74PercentDue14January2019Member to label_SeniorUnsecuredTermNotes5.74PercentDue14January2019Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredTermNotes5.74PercentDue14January2019Member_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeniorUnsecuredTermNotes5.74PercentDue14January2019Member" xml:lang="en-US" id="label_SeniorUnsecuredTermNotes5.74PercentDue14January2019Member_3">Senior Unsecured Term Notes 5.74 Percent Due, 14 January 2019 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredTermNotes5.74PercentDue14January2019Member" xlink:to="label_SeniorUnsecuredTermNotes5.74PercentDue14January2019Member_3" xlink:title="label: SeniorUnsecuredTermNotes5.74PercentDue14January2019Member to label_SeniorUnsecuredTermNotes5.74PercentDue14January2019Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SeniorUnsecuredNotesMaturingPriorTo2020Member" xlink:label="SeniorUnsecuredNotesMaturingPriorTo2020Member" xlink:title="SeniorUnsecuredNotesMaturingPriorTo2020Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredNotesMaturingPriorTo2020Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeniorUnsecuredNotesMaturingPriorTo2020Member" xml:lang="en-US" id="label_SeniorUnsecuredNotesMaturingPriorTo2020Member">Senior Unsecured Term Notes Due on or before 14 January 2019 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredNotesMaturingPriorTo2020Member" xlink:to="label_SeniorUnsecuredNotesMaturingPriorTo2020Member" xlink:title="label: SeniorUnsecuredNotesMaturingPriorTo2020Member to label_SeniorUnsecuredNotesMaturingPriorTo2020Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredNotesMaturingPriorTo2020Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeniorUnsecuredNotesMaturingPriorTo2020Member" xml:lang="en-US" id="label_SeniorUnsecuredNotesMaturingPriorTo2020Member_2">Senior unsecured notes maturing prior to 2020</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredNotesMaturingPriorTo2020Member" xlink:to="label_SeniorUnsecuredNotesMaturingPriorTo2020Member_2" xlink:title="label: SeniorUnsecuredNotesMaturingPriorTo2020Member to label_SeniorUnsecuredNotesMaturingPriorTo2020Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredNotesMaturingPriorTo2020Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SeniorUnsecuredNotesMaturingPriorTo2020Member" xml:lang="en-US" id="label_SeniorUnsecuredNotesMaturingPriorTo2020Member_3">Represents the senior unsecured term notes due on or before December 31, 2019.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredNotesMaturingPriorTo2020Member" xlink:to="label_SeniorUnsecuredNotesMaturingPriorTo2020Member_3" xlink:title="label: SeniorUnsecuredNotesMaturingPriorTo2020Member to label_SeniorUnsecuredNotesMaturingPriorTo2020Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SeniorUnsecuredNotesMaturingPriorTo2019Member" xlink:label="SeniorUnsecuredNotesMaturingPriorTo2019Member" xlink:title="SeniorUnsecuredNotesMaturingPriorTo2019Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredNotesMaturingPriorTo2019Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeniorUnsecuredNotesMaturingPriorTo2019Member" xml:lang="en-US" id="label_SeniorUnsecuredNotesMaturingPriorTo2019Member">Senior Unsecured Notes Maturing Prior to 2019 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredNotesMaturingPriorTo2019Member" xlink:to="label_SeniorUnsecuredNotesMaturingPriorTo2019Member" xlink:title="label: SeniorUnsecuredNotesMaturingPriorTo2019Member to label_SeniorUnsecuredNotesMaturingPriorTo2019Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredNotesMaturingPriorTo2019Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeniorUnsecuredNotesMaturingPriorTo2019Member" xml:lang="en-US" id="label_SeniorUnsecuredNotesMaturingPriorTo2019Member_2">Senior unsecured notes maturing prior to 2019</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredNotesMaturingPriorTo2019Member" xlink:to="label_SeniorUnsecuredNotesMaturingPriorTo2019Member_2" xlink:title="label: SeniorUnsecuredNotesMaturingPriorTo2019Member to label_SeniorUnsecuredNotesMaturingPriorTo2019Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredNotesMaturingPriorTo2019Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SeniorUnsecuredNotesMaturingPriorTo2019Member" xml:lang="en-US" id="label_SeniorUnsecuredNotesMaturingPriorTo2019Member_3">Represents the senior unsecured term notes due on or before December 31, 2019.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredNotesMaturingPriorTo2019Member" xlink:to="label_SeniorUnsecuredNotesMaturingPriorTo2019Member_3" xlink:title="label: SeniorUnsecuredNotesMaturingPriorTo2019Member to label_SeniorUnsecuredNotesMaturingPriorTo2019Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SeniorUnsecuredNotesMaturingIn2021Member" xlink:label="SeniorUnsecuredNotesMaturingIn2021Member" xlink:title="SeniorUnsecuredNotesMaturingIn2021Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredNotesMaturingIn2021Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeniorUnsecuredNotesMaturingIn2021Member" xml:lang="en-US" id="label_SeniorUnsecuredNotesMaturingIn2021Member">Senior Unsecured Notes Maturing in 2021 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredNotesMaturingIn2021Member" xlink:to="label_SeniorUnsecuredNotesMaturingIn2021Member" xlink:title="label: SeniorUnsecuredNotesMaturingIn2021Member to label_SeniorUnsecuredNotesMaturingIn2021Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredNotesMaturingIn2021Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeniorUnsecuredNotesMaturingIn2021Member" xml:lang="en-US" id="label_SeniorUnsecuredNotesMaturingIn2021Member_2">Senior unsecured notes maturing 2021</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredNotesMaturingIn2021Member" xlink:to="label_SeniorUnsecuredNotesMaturingIn2021Member_2" xlink:title="label: SeniorUnsecuredNotesMaturingIn2021Member to label_SeniorUnsecuredNotesMaturingIn2021Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredNotesMaturingIn2021Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SeniorUnsecuredNotesMaturingIn2021Member" xml:lang="en-US" id="label_SeniorUnsecuredNotesMaturingIn2021Member_3">Represents the senior unsecured term notes due on December 31, 2021.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredNotesMaturingIn2021Member" xlink:to="label_SeniorUnsecuredNotesMaturingIn2021Member_3" xlink:title="label: SeniorUnsecuredNotesMaturingIn2021Member to label_SeniorUnsecuredNotesMaturingIn2021Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesVestingPeriodMaximum" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesVestingPeriodMaximum" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesVestingPeriodMaximum" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesVestingPeriodMaximum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesVestingPeriodMaximum" xml:lang="en-US" id="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesVestingPeriodMaximum">Share Based Compensation Arrangement by Share Based Payment Award, Additional Shares Vesting Period Maximum</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesVestingPeriodMaximum" xlink:to="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesVestingPeriodMaximum" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesVestingPeriodMaximum to label_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesVestingPeriodMaximum" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesVestingPeriodMaximum_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesVestingPeriodMaximum" xml:lang="en-US" id="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesVestingPeriodMaximum_2">Vesting period of additional shares granted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesVestingPeriodMaximum" xlink:to="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesVestingPeriodMaximum_2" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesVestingPeriodMaximum to label_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesVestingPeriodMaximum" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesVestingPeriodMaximum_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesVestingPeriodMaximum" xml:lang="en-US" id="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesVestingPeriodMaximum_3">Represents the maximum vesting term for additional shares granted.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesVestingPeriodMaximum" xlink:to="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesVestingPeriodMaximum_3" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesVestingPeriodMaximum to label_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesVestingPeriodMaximum" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_StockIssuedDuringPeriodToFirstLimitedPartnerSharesConversionOfNoncontrollingInterest" xlink:label="StockIssuedDuringPeriodToFirstLimitedPartnerSharesConversionOfNoncontrollingInterest" xlink:title="StockIssuedDuringPeriodToFirstLimitedPartnerSharesConversionOfNoncontrollingInterest" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodToFirstLimitedPartnerSharesConversionOfNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockIssuedDuringPeriodToFirstLimitedPartnerSharesConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_StockIssuedDuringPeriodToFirstLimitedPartnerSharesConversionOfNoncontrollingInterest">Stock Issued During Period to First Limited Partner Shares Conversion of Noncontrolling Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodToFirstLimitedPartnerSharesConversionOfNoncontrollingInterest" xlink:to="label_StockIssuedDuringPeriodToFirstLimitedPartnerSharesConversionOfNoncontrollingInterest" xlink:title="label: StockIssuedDuringPeriodToFirstLimitedPartnerSharesConversionOfNoncontrollingInterest to label_StockIssuedDuringPeriodToFirstLimitedPartnerSharesConversionOfNoncontrollingInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodToFirstLimitedPartnerSharesConversionOfNoncontrollingInterest_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockIssuedDuringPeriodToFirstLimitedPartnerSharesConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_StockIssuedDuringPeriodToFirstLimitedPartnerSharesConversionOfNoncontrollingInterest_2">Number of partnership units converted by first limited partner</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodToFirstLimitedPartnerSharesConversionOfNoncontrollingInterest" xlink:to="label_StockIssuedDuringPeriodToFirstLimitedPartnerSharesConversionOfNoncontrollingInterest_2" xlink:title="label: StockIssuedDuringPeriodToFirstLimitedPartnerSharesConversionOfNoncontrollingInterest to label_StockIssuedDuringPeriodToFirstLimitedPartnerSharesConversionOfNoncontrollingInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodToFirstLimitedPartnerSharesConversionOfNoncontrollingInterest_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_StockIssuedDuringPeriodToFirstLimitedPartnerSharesConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_StockIssuedDuringPeriodToFirstLimitedPartnerSharesConversionOfNoncontrollingInterest_3">Number of shares issued during the period as a result of the conversion of non-controlling interests by first of the two limited partners exercising their conversion rights.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodToFirstLimitedPartnerSharesConversionOfNoncontrollingInterest" xlink:to="label_StockIssuedDuringPeriodToFirstLimitedPartnerSharesConversionOfNoncontrollingInterest_3" xlink:title="label: StockIssuedDuringPeriodToFirstLimitedPartnerSharesConversionOfNoncontrollingInterest to label_StockIssuedDuringPeriodToFirstLimitedPartnerSharesConversionOfNoncontrollingInterest" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NumberOfLimitedPartnersExchangingAllPartnershipUnits" xlink:label="NumberOfLimitedPartnersExchangingAllPartnershipUnits" xlink:title="NumberOfLimitedPartnersExchangingAllPartnershipUnits" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfLimitedPartnersExchangingAllPartnershipUnits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfLimitedPartnersExchangingAllPartnershipUnits" xml:lang="en-US" id="label_NumberOfLimitedPartnersExchangingAllPartnershipUnits">Number of Limited Partners Exchanging All Partnership Units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfLimitedPartnersExchangingAllPartnershipUnits" xlink:to="label_NumberOfLimitedPartnersExchangingAllPartnershipUnits" xlink:title="label: NumberOfLimitedPartnersExchangingAllPartnershipUnits to label_NumberOfLimitedPartnersExchangingAllPartnershipUnits" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfLimitedPartnersExchangingAllPartnershipUnits_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfLimitedPartnersExchangingAllPartnershipUnits" xml:lang="en-US" id="label_NumberOfLimitedPartnersExchangingAllPartnershipUnits_2">Number of limited partners exchanging all of their 67,294 partnership units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfLimitedPartnersExchangingAllPartnershipUnits" xlink:to="label_NumberOfLimitedPartnersExchangingAllPartnershipUnits_2" xlink:title="label: NumberOfLimitedPartnersExchangingAllPartnershipUnits to label_NumberOfLimitedPartnersExchangingAllPartnershipUnits" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfLimitedPartnersExchangingAllPartnershipUnits_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfLimitedPartnersExchangingAllPartnershipUnits" xml:lang="en-US" id="label_NumberOfLimitedPartnersExchangingAllPartnershipUnits_3">Represents the number of limited partners exchanging all of their partnership units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfLimitedPartnersExchangingAllPartnershipUnits" xlink:to="label_NumberOfLimitedPartnersExchangingAllPartnershipUnits_3" xlink:title="label: NumberOfLimitedPartnersExchangingAllPartnershipUnits to label_NumberOfLimitedPartnersExchangingAllPartnershipUnits" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_StockIssuedDuringPeriodToSecondLimitedPartnerSharesConversionOfNoncontrollingInterest" xlink:label="StockIssuedDuringPeriodToSecondLimitedPartnerSharesConversionOfNoncontrollingInterest" xlink:title="StockIssuedDuringPeriodToSecondLimitedPartnerSharesConversionOfNoncontrollingInterest" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodToSecondLimitedPartnerSharesConversionOfNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockIssuedDuringPeriodToSecondLimitedPartnerSharesConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_StockIssuedDuringPeriodToSecondLimitedPartnerSharesConversionOfNoncontrollingInterest">Number of partnership units converted by second limited partner</link:label>
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    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodToSecondLimitedPartnerSharesConversionOfNoncontrollingInterest_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_StockIssuedDuringPeriodToSecondLimitedPartnerSharesConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_StockIssuedDuringPeriodToSecondLimitedPartnerSharesConversionOfNoncontrollingInterest_2">Number of shares issued during the period as a result of the conversion of non-controlling interests by second of the two limited partners exercising their conversion rights.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodToSecondLimitedPartnerSharesConversionOfNoncontrollingInterest" xlink:to="label_StockIssuedDuringPeriodToSecondLimitedPartnerSharesConversionOfNoncontrollingInterest_2" xlink:title="label: StockIssuedDuringPeriodToSecondLimitedPartnerSharesConversionOfNoncontrollingInterest to label_StockIssuedDuringPeriodToSecondLimitedPartnerSharesConversionOfNoncontrollingInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodToSecondLimitedPartnerSharesConversionOfNoncontrollingInterest_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockIssuedDuringPeriodToSecondLimitedPartnerSharesConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_StockIssuedDuringPeriodToSecondLimitedPartnerSharesConversionOfNoncontrollingInterest_3">Stock Issued During Period to Second Limited Partner Shares Conversion of Noncontrolling Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodToSecondLimitedPartnerSharesConversionOfNoncontrollingInterest" xlink:to="label_StockIssuedDuringPeriodToSecondLimitedPartnerSharesConversionOfNoncontrollingInterest_3" xlink:title="label: StockIssuedDuringPeriodToSecondLimitedPartnerSharesConversionOfNoncontrollingInterest to label_StockIssuedDuringPeriodToSecondLimitedPartnerSharesConversionOfNoncontrollingInterest" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock" xlink:label="ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock" xlink:title="ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock" xml:lang="en-US" id="label_ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock">Schedule of Change from Net Income Attributable to Entity and Transfers from Noncontrolling Interest [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock" xlink:to="label_ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock" xlink:title="label: ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock to label_ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock" xml:lang="en-US" id="label_ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock_2">Schedule of change from net income attributable to us and transfers from non-controlling interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock" xlink:to="label_ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock_2" xlink:title="label: ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock to label_ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock" xml:lang="en-US" id="label_ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock_3">Tabular disclosure of change from net income attributable to parent entity and transfers from non-controlling interest.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock" xlink:to="label_ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock_3" xlink:title="label: ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock to label_ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue" xml:lang="en-US" id="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue">Share Based Compensation Arrangement by Share Based Payment Award, Options, Exercises in Period, Market Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue" xlink:to="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue to label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue" xml:lang="en-US" id="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue_2">Represents the market value as of the exercise date of the common shares purchased during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue" xlink:to="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue_2" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue to label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue" xml:lang="en-US" id="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue_3">Market value on the date of exercise</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue" xlink:to="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue_3" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue to label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue" xml:lang="en-US" id="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue">Share Based Compensation Arrangement by Share Based Payment Award, Options, Exercises in Period, Option Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue" xlink:to="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue to label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue" xml:lang="en-US" id="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue_2">Value of options exercised</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue" xlink:to="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue_2" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue to label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue" xml:lang="en-US" id="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue_3">Represents the option value of the share options (or share units) exercised during the current period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue" xlink:to="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue_3" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue to label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ShareBasedCompensationArrangementByShareBasedPaymentAwardPricePerShareAtGrantDate" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardPricePerShareAtGrantDate" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardPricePerShareAtGrantDate" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardPricePerShareAtGrantDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardPricePerShareAtGrantDate" xml:lang="en-US" id="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardPricePerShareAtGrantDate">Share Based Compensation Arrangement by Share Based Payment Award, Price Per Share at Grant Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardPricePerShareAtGrantDate" xlink:to="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardPricePerShareAtGrantDate" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardPricePerShareAtGrantDate to label_ShareBasedCompensationArrangementByShareBasedPaymentAwardPricePerShareAtGrantDate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardPricePerShareAtGrantDate_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardPricePerShareAtGrantDate" xml:lang="en-US" id="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardPricePerShareAtGrantDate_2">Price per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardPricePerShareAtGrantDate" xlink:to="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardPricePerShareAtGrantDate_2" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardPricePerShareAtGrantDate to label_ShareBasedCompensationArrangementByShareBasedPaymentAwardPricePerShareAtGrantDate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardPricePerShareAtGrantDate_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardPricePerShareAtGrantDate" xml:lang="en-US" id="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardPricePerShareAtGrantDate_3">Represents the price of common stock at grant date used for awards under the share-based compensation plan.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardPricePerShareAtGrantDate" xlink:to="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardPricePerShareAtGrantDate_3" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardPricePerShareAtGrantDate to label_ShareBasedCompensationArrangementByShareBasedPaymentAwardPricePerShareAtGrantDate" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedExercisePriceDomain" xlink:label="ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedExercisePriceDomain" xlink:title="ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedExercisePriceDomain" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedExercisePriceDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedExercisePriceDomain" xml:lang="en-US" id="label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedExercisePriceDomain">Supplementary information on awards granted by exercise price.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedExercisePriceDomain" xlink:to="label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedExercisePriceDomain" xlink:title="label: ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedExercisePriceDomain to label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedExercisePriceDomain" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedExercisePriceDomain_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedExercisePriceDomain" xml:lang="en-US" id="label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedExercisePriceDomain_2">Share Based Compensation Arrangements by Share Based Payment, Award, Award Granted Exercise Price [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedExercisePriceDomain" xlink:to="label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedExercisePriceDomain_2" xlink:title="label: ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedExercisePriceDomain to label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedExercisePriceDomain" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ExercisePriceDollar31.77Member" xlink:label="ExercisePriceDollar31.77Member" xlink:title="ExercisePriceDollar31.77Member" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar31.77Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExercisePriceDollar31.77Member" xml:lang="en-US" id="label_ExercisePriceDollar31.77Member">Exercise Price Dollar 31.77 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar31.77Member" xlink:to="label_ExercisePriceDollar31.77Member" xlink:title="label: ExercisePriceDollar31.77Member to label_ExercisePriceDollar31.77Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar31.77Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExercisePriceDollar31.77Member" xml:lang="en-US" id="label_ExercisePriceDollar31.77Member_2">$ 31.77 per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar31.77Member" xlink:to="label_ExercisePriceDollar31.77Member_2" xlink:title="label: ExercisePriceDollar31.77Member to label_ExercisePriceDollar31.77Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar31.77Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExercisePriceDollar31.77Member" xml:lang="en-US" id="label_ExercisePriceDollar31.77Member_3">Represents information pertaining to the stock awards granted at 31.77 dollar per share.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar31.77Member" xlink:to="label_ExercisePriceDollar31.77Member_3" xlink:title="label: ExercisePriceDollar31.77Member to label_ExercisePriceDollar31.77Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_VestingOverFiveYearPeriodFromGrantDateMember" xlink:label="VestingOverFiveYearPeriodFromGrantDateMember" xlink:title="VestingOverFiveYearPeriodFromGrantDateMember" />
    <link:label xlink:type="resource" xlink:label="label_VestingOverFiveYearPeriodFromGrantDateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_VestingOverFiveYearPeriodFromGrantDateMember" xml:lang="en-US" id="label_VestingOverFiveYearPeriodFromGrantDateMember">Vesting over Five Year Period from Grant Date [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VestingOverFiveYearPeriodFromGrantDateMember" xlink:to="label_VestingOverFiveYearPeriodFromGrantDateMember" xlink:title="label: VestingOverFiveYearPeriodFromGrantDateMember to label_VestingOverFiveYearPeriodFromGrantDateMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_VestingOverFiveYearPeriodFromGrantDateMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_VestingOverFiveYearPeriodFromGrantDateMember" xml:lang="en-US" id="label_VestingOverFiveYearPeriodFromGrantDateMember_2">Represents information pertaining to the stock awards vesting ratably over a five-year period from the grant date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VestingOverFiveYearPeriodFromGrantDateMember" xlink:to="label_VestingOverFiveYearPeriodFromGrantDateMember_2" xlink:title="label: VestingOverFiveYearPeriodFromGrantDateMember to label_VestingOverFiveYearPeriodFromGrantDateMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_VestingOverFiveYearPeriodFromGrantDateMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_VestingOverFiveYearPeriodFromGrantDateMember" xml:lang="en-US" id="label_VestingOverFiveYearPeriodFromGrantDateMember_3">Vesting ratably over five-year period from the grant date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VestingOverFiveYearPeriodFromGrantDateMember" xlink:to="label_VestingOverFiveYearPeriodFromGrantDateMember_3" xlink:title="label: VestingOverFiveYearPeriodFromGrantDateMember to label_VestingOverFiveYearPeriodFromGrantDateMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ShelfRegistrationMember" xlink:label="ShelfRegistrationMember" xlink:title="ShelfRegistrationMember" />
    <link:label xlink:type="resource" xlink:label="label_ShelfRegistrationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShelfRegistrationMember" xml:lang="en-US" id="label_ShelfRegistrationMember">Shelf Registration [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShelfRegistrationMember" xlink:to="label_ShelfRegistrationMember" xlink:title="label: ShelfRegistrationMember to label_ShelfRegistrationMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ShelfRegistrationMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ShelfRegistrationMember" xml:lang="en-US" id="label_ShelfRegistrationMember_2">Represents the shelf registration which became effective June 16, 2010.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShelfRegistrationMember" xlink:to="label_ShelfRegistrationMember_2" xlink:title="label: ShelfRegistrationMember to label_ShelfRegistrationMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ShelfRegistrationMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShelfRegistrationMember" xml:lang="en-US" id="label_ShelfRegistrationMember_3">Shelf Registration</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShelfRegistrationMember" xlink:to="label_ShelfRegistrationMember_3" xlink:title="label: ShelfRegistrationMember to label_ShelfRegistrationMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ShelfRegistrationStatementMaximumCapacity" xlink:label="ShelfRegistrationStatementMaximumCapacity" xlink:title="ShelfRegistrationStatementMaximumCapacity" />
    <link:label xlink:type="resource" xlink:label="label_ShelfRegistrationStatementMaximumCapacity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShelfRegistrationStatementMaximumCapacity" xml:lang="en-US" id="label_ShelfRegistrationStatementMaximumCapacity">Shelf Registration Statement Maximum Capacity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShelfRegistrationStatementMaximumCapacity" xlink:to="label_ShelfRegistrationStatementMaximumCapacity" xlink:title="label: ShelfRegistrationStatementMaximumCapacity to label_ShelfRegistrationStatementMaximumCapacity" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ShelfRegistrationStatementMaximumCapacity_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ShelfRegistrationStatementMaximumCapacity" xml:lang="en-US" id="label_ShelfRegistrationStatementMaximumCapacity_2">The maximum offering capacity under the shelf registration statement in which the entity may issue common stock, preferred stock, warrants, debt, depositary shares, or units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShelfRegistrationStatementMaximumCapacity" xlink:to="label_ShelfRegistrationStatementMaximumCapacity_2" xlink:title="label: ShelfRegistrationStatementMaximumCapacity to label_ShelfRegistrationStatementMaximumCapacity" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ShelfRegistrationStatementMaximumCapacity_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShelfRegistrationStatementMaximumCapacity" xml:lang="en-US" id="label_ShelfRegistrationStatementMaximumCapacity_3">Maximum offering capacity under shelf registration statement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShelfRegistrationStatementMaximumCapacity" xlink:to="label_ShelfRegistrationStatementMaximumCapacity_3" xlink:title="label: ShelfRegistrationStatementMaximumCapacity to label_ShelfRegistrationStatementMaximumCapacity" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledHealthcareGroupIncMember" xlink:label="SkilledHealthcareGroupIncMember" xlink:title="SkilledHealthcareGroupIncMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledHealthcareGroupIncMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledHealthcareGroupIncMember" xml:lang="en-US" id="label_SkilledHealthcareGroupIncMember">SHG</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledHealthcareGroupIncMember" xlink:to="label_SkilledHealthcareGroupIncMember" xlink:title="label: SkilledHealthcareGroupIncMember to label_SkilledHealthcareGroupIncMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledHealthcareGroupIncMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledHealthcareGroupIncMember" xml:lang="en-US" id="label_SkilledHealthcareGroupIncMember_2">Represents Skilled Healthcare Group Inc, a related party to the reporting entity in which the director of the entity serves as Chief Executive Officer.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledHealthcareGroupIncMember" xlink:to="label_SkilledHealthcareGroupIncMember_2" xlink:title="label: SkilledHealthcareGroupIncMember to label_SkilledHealthcareGroupIncMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledHealthcareGroupIncMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledHealthcareGroupIncMember" xml:lang="en-US" id="label_SkilledHealthcareGroupIncMember_3">Skilled Healthcare Group Inc [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledHealthcareGroupIncMember" xlink:to="label_SkilledHealthcareGroupIncMember_3" xlink:title="label: SkilledHealthcareGroupIncMember to label_SkilledHealthcareGroupIncMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledNursingFacilityBedsMember" xlink:label="SkilledNursingFacilityBedsMember" xlink:title="SkilledNursingFacilityBedsMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingFacilityBedsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledNursingFacilityBedsMember" xml:lang="en-US" id="label_SkilledNursingFacilityBedsMember">SNF Beds</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingFacilityBedsMember" xlink:to="label_SkilledNursingFacilityBedsMember" xlink:title="label: SkilledNursingFacilityBedsMember to label_SkilledNursingFacilityBedsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingFacilityBedsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledNursingFacilityBedsMember" xml:lang="en-US" id="label_SkilledNursingFacilityBedsMember_2">Represents information pertaining senior housing facility beds.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingFacilityBedsMember" xlink:to="label_SkilledNursingFacilityBedsMember_2" xlink:title="label: SkilledNursingFacilityBedsMember to label_SkilledNursingFacilityBedsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingFacilityBedsMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledNursingFacilityBedsMember" xml:lang="en-US" id="label_SkilledNursingFacilityBedsMember_3">Skilled Nursing Facility Beds [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingFacilityBedsMember" xlink:to="label_SkilledNursingFacilityBedsMember_3" xlink:title="label: SkilledNursingFacilityBedsMember to label_SkilledNursingFacilityBedsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_PrivatePayFacilityUnitMember" xlink:label="PrivatePayFacilityUnitMember" xlink:title="PrivatePayFacilityUnitMember" />
    <link:label xlink:type="resource" xlink:label="label_PrivatePayFacilityUnitMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PrivatePayFacilityUnitMember" xml:lang="en-US" id="label_PrivatePayFacilityUnitMember">Private Pay Facility Unit [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrivatePayFacilityUnitMember" xlink:to="label_PrivatePayFacilityUnitMember" xlink:title="label: PrivatePayFacilityUnitMember to label_PrivatePayFacilityUnitMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PrivatePayFacilityUnitMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PrivatePayFacilityUnitMember" xml:lang="en-US" id="label_PrivatePayFacilityUnitMember_2">Private-pay</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrivatePayFacilityUnitMember" xlink:to="label_PrivatePayFacilityUnitMember_2" xlink:title="label: PrivatePayFacilityUnitMember to label_PrivatePayFacilityUnitMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PrivatePayFacilityUnitMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PrivatePayFacilityUnitMember" xml:lang="en-US" id="label_PrivatePayFacilityUnitMember_3">Represents information pertaining to the private pay facility unit.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrivatePayFacilityUnitMember" xlink:to="label_PrivatePayFacilityUnitMember_3" xlink:title="label: PrivatePayFacilityUnitMember to label_PrivatePayFacilityUnitMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledNursingPropertyAssociatedWithOtherSeniorHousingPropertyMember" xlink:label="SkilledNursingPropertyAssociatedWithOtherSeniorHousingPropertyMember" xlink:title="SkilledNursingPropertyAssociatedWithOtherSeniorHousingPropertyMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertyAssociatedWithOtherSeniorHousingPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledNursingPropertyAssociatedWithOtherSeniorHousingPropertyMember" xml:lang="en-US" id="label_SkilledNursingPropertyAssociatedWithOtherSeniorHousingPropertyMember">Skilled Nursing Property Associated with Other Senior Housing Property [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertyAssociatedWithOtherSeniorHousingPropertyMember" xlink:to="label_SkilledNursingPropertyAssociatedWithOtherSeniorHousingPropertyMember" xlink:title="label: SkilledNursingPropertyAssociatedWithOtherSeniorHousingPropertyMember to label_SkilledNursingPropertyAssociatedWithOtherSeniorHousingPropertyMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertyAssociatedWithOtherSeniorHousingPropertyMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledNursingPropertyAssociatedWithOtherSeniorHousingPropertyMember" xml:lang="en-US" id="label_SkilledNursingPropertyAssociatedWithOtherSeniorHousingPropertyMember_2">Skilled nursing property associated with the other senior housing property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertyAssociatedWithOtherSeniorHousingPropertyMember" xlink:to="label_SkilledNursingPropertyAssociatedWithOtherSeniorHousingPropertyMember_2" xlink:title="label: SkilledNursingPropertyAssociatedWithOtherSeniorHousingPropertyMember to label_SkilledNursingPropertyAssociatedWithOtherSeniorHousingPropertyMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertyAssociatedWithOtherSeniorHousingPropertyMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledNursingPropertyAssociatedWithOtherSeniorHousingPropertyMember" xml:lang="en-US" id="label_SkilledNursingPropertyAssociatedWithOtherSeniorHousingPropertyMember_3">Represents the information pertaining to the skilled nursing property associated with the other senior housing property.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertyAssociatedWithOtherSeniorHousingPropertyMember" xlink:to="label_SkilledNursingPropertyAssociatedWithOtherSeniorHousingPropertyMember_3" xlink:title="label: SkilledNursingPropertyAssociatedWithOtherSeniorHousingPropertyMember to label_SkilledNursingPropertyAssociatedWithOtherSeniorHousingPropertyMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest" xlink:label="StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest" xlink:title="StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest">Non-controlling interests conversion (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest" xlink:to="label_StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest" xlink:title="label: StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest to label_StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest_2">Number of shares issued during the period as a result of the conversion of non-controlling interests.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest" xlink:to="label_StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest_2" xlink:title="label: StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest to label_StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest_3">Number of partnership units converted (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest" xlink:to="label_StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest_3" xlink:title="label: StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest to label_StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest_4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest_4">Stock Issued During Period, Shares Conversion of Noncontrolling Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest" xlink:to="label_StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest_4" xlink:title="label: StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest to label_StockIssuedDuringPeriodSharesConversionOfNoncontrollingInterest" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement" xlink:label="CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement" xlink:title="CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement" xml:lang="en-US" id="label_CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement">Common Stock Shares Authorized for Issuance under Limited Partnership Agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement" xlink:to="label_CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement" xlink:title="label: CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement to label_CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement" xml:lang="en-US" id="label_CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement_2">Represents the number of shares of common stock authorized for issuance under the limited partnership agreement entered by the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement" xlink:to="label_CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement_2" xlink:title="label: CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement to label_CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement" xml:lang="en-US" id="label_CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement_3">Number of shares reserved under limited partnership agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement" xlink:to="label_CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement_3" xlink:title="label: CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement to label_CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement_4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement" xml:lang="en-US" id="label_CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement_4">Number of shares reserved under limited partnership agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement" xlink:to="label_CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement_4" xlink:title="label: CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement to label_CommonStockSharesAuthorizedForIssuanceUnderLimitedPartnershipAgreement" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest" xlink:label="StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest" xlink:title="StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest">Non-controlling interests conversion</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest" xlink:to="label_StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest" xlink:title="label: StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest to label_StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest_2">Stock Issued During Period, Value, Conversion of Noncontrolling Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest" xlink:to="label_StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest_2" xlink:title="label: StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest to label_StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest_3">The gross value of stock issued during the period upon the conversion of Non-controlling interests.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest" xlink:to="label_StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest_3" xlink:title="label: StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest to label_StockIssuedDuringPeriodValueConversionOfNoncontrollingInterest" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_StockRepurchaseProgramNumberOfSharesRepurchasedForAuthorizationExpiration" xlink:label="StockRepurchaseProgramNumberOfSharesRepurchasedForAuthorizationExpiration" xlink:title="StockRepurchaseProgramNumberOfSharesRepurchasedForAuthorizationExpiration" />
    <link:label xlink:type="resource" xlink:label="label_StockRepurchaseProgramNumberOfSharesRepurchasedForAuthorizationExpiration" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockRepurchaseProgramNumberOfSharesRepurchasedForAuthorizationExpiration" xml:lang="en-US" id="label_StockRepurchaseProgramNumberOfSharesRepurchasedForAuthorizationExpiration">Stock Repurchase Program, Number of Shares Repurchased for Authorization Expiration</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockRepurchaseProgramNumberOfSharesRepurchasedForAuthorizationExpiration" xlink:to="label_StockRepurchaseProgramNumberOfSharesRepurchasedForAuthorizationExpiration" xlink:title="label: StockRepurchaseProgramNumberOfSharesRepurchasedForAuthorizationExpiration to label_StockRepurchaseProgramNumberOfSharesRepurchasedForAuthorizationExpiration" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockRepurchaseProgramNumberOfSharesRepurchasedForAuthorizationExpiration_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockRepurchaseProgramNumberOfSharesRepurchasedForAuthorizationExpiration" xml:lang="en-US" id="label_StockRepurchaseProgramNumberOfSharesRepurchasedForAuthorizationExpiration_2">Number of shares to be repurchased before authorization expires</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockRepurchaseProgramNumberOfSharesRepurchasedForAuthorizationExpiration" xlink:to="label_StockRepurchaseProgramNumberOfSharesRepurchasedForAuthorizationExpiration_2" xlink:title="label: StockRepurchaseProgramNumberOfSharesRepurchasedForAuthorizationExpiration to label_StockRepurchaseProgramNumberOfSharesRepurchasedForAuthorizationExpiration" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockRepurchaseProgramNumberOfSharesRepurchasedForAuthorizationExpiration_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_StockRepurchaseProgramNumberOfSharesRepurchasedForAuthorizationExpiration" xml:lang="en-US" id="label_StockRepurchaseProgramNumberOfSharesRepurchasedForAuthorizationExpiration_3">Represents the number of shares that must be repurchased for the authorization to expire.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockRepurchaseProgramNumberOfSharesRepurchasedForAuthorizationExpiration" xlink:to="label_StockRepurchaseProgramNumberOfSharesRepurchasedForAuthorizationExpiration_3" xlink:title="label: StockRepurchaseProgramNumberOfSharesRepurchasedForAuthorizationExpiration to label_StockRepurchaseProgramNumberOfSharesRepurchasedForAuthorizationExpiration" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_StockRepurchasedDuringPeriodPricePerShare" xlink:label="StockRepurchasedDuringPeriodPricePerShare" xlink:title="StockRepurchasedDuringPeriodPricePerShare" />
    <link:label xlink:type="resource" xlink:label="label_StockRepurchasedDuringPeriodPricePerShare" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_StockRepurchasedDuringPeriodPricePerShare" xml:lang="en-US" id="label_StockRepurchasedDuringPeriodPricePerShare">Represents the average cost per share of the shares repurchased during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockRepurchasedDuringPeriodPricePerShare" xlink:to="label_StockRepurchasedDuringPeriodPricePerShare" xlink:title="label: StockRepurchasedDuringPeriodPricePerShare to label_StockRepurchasedDuringPeriodPricePerShare" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockRepurchasedDuringPeriodPricePerShare_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockRepurchasedDuringPeriodPricePerShare" xml:lang="en-US" id="label_StockRepurchasedDuringPeriodPricePerShare_2">Stock Repurchased During Period, Price Per Share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockRepurchasedDuringPeriodPricePerShare" xlink:to="label_StockRepurchasedDuringPeriodPricePerShare_2" xlink:title="label: StockRepurchasedDuringPeriodPricePerShare to label_StockRepurchasedDuringPeriodPricePerShare" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockRepurchasedDuringPeriodPricePerShare_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockRepurchasedDuringPeriodPricePerShare" xml:lang="en-US" id="label_StockRepurchasedDuringPeriodPricePerShare_3">Average cost per share (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockRepurchasedDuringPeriodPricePerShare" xlink:to="label_StockRepurchasedDuringPeriodPricePerShare_3" xlink:title="label: StockRepurchasedDuringPeriodPricePerShare to label_StockRepurchasedDuringPeriodPricePerShare" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SunwestManagementIncMember" xlink:label="SunwestManagementIncMember" xlink:title="SunwestManagementIncMember" />
    <link:label xlink:type="resource" xlink:label="label_SunwestManagementIncMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SunwestManagementIncMember" xml:lang="en-US" id="label_SunwestManagementIncMember">Sunwest Management Inc [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SunwestManagementIncMember" xlink:to="label_SunwestManagementIncMember" xlink:title="label: SunwestManagementIncMember to label_SunwestManagementIncMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SunwestManagementIncMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SunwestManagementIncMember" xml:lang="en-US" id="label_SunwestManagementIncMember_2">Sunwest Management Inc</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SunwestManagementIncMember" xlink:to="label_SunwestManagementIncMember_2" xlink:title="label: SunwestManagementIncMember to label_SunwestManagementIncMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SunwestManagementIncMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SunwestManagementIncMember" xml:lang="en-US" id="label_SunwestManagementIncMember_3">Represents Sunwest Management, Inc., an affiliate of the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SunwestManagementIncMember" xlink:to="label_SunwestManagementIncMember_3" xlink:title="label: SunwestManagementIncMember to label_SunwestManagementIncMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_UncommittedPrivateShelfAgreementMember" xlink:label="UncommittedPrivateShelfAgreementMember" xlink:title="UncommittedPrivateShelfAgreementMember" />
    <link:label xlink:type="resource" xlink:label="label_UncommittedPrivateShelfAgreementMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_UncommittedPrivateShelfAgreementMember" xml:lang="en-US" id="label_UncommittedPrivateShelfAgreementMember">Represents the uncommitted private shelf agreement with Prudential.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UncommittedPrivateShelfAgreementMember" xlink:to="label_UncommittedPrivateShelfAgreementMember" xlink:title="label: UncommittedPrivateShelfAgreementMember to label_UncommittedPrivateShelfAgreementMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_UncommittedPrivateShelfAgreementMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_UncommittedPrivateShelfAgreementMember" xml:lang="en-US" id="label_UncommittedPrivateShelfAgreementMember_2">Uncommitted Private Shelf Agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UncommittedPrivateShelfAgreementMember" xlink:to="label_UncommittedPrivateShelfAgreementMember_2" xlink:title="label: UncommittedPrivateShelfAgreementMember to label_UncommittedPrivateShelfAgreementMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_UncommittedPrivateShelfAgreementMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UncommittedPrivateShelfAgreementMember" xml:lang="en-US" id="label_UncommittedPrivateShelfAgreementMember_3">Uncommitted Private Shelf Agreement [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UncommittedPrivateShelfAgreementMember" xlink:to="label_UncommittedPrivateShelfAgreementMember_3" xlink:title="label: UncommittedPrivateShelfAgreementMember to label_UncommittedPrivateShelfAgreementMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_VacavilleMember" xlink:label="VacavilleMember" xlink:title="VacavilleMember" />
    <link:label xlink:type="resource" xlink:label="label_VacavilleMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_VacavilleMember" xml:lang="en-US" id="label_VacavilleMember">Vacaville [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VacavilleMember" xlink:to="label_VacavilleMember" xlink:title="label: VacavilleMember to label_VacavilleMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_VacavilleMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_VacavilleMember" xml:lang="en-US" id="label_VacavilleMember_2">Vacaville</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VacavilleMember" xlink:to="label_VacavilleMember_2" xlink:title="label: VacavilleMember to label_VacavilleMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_VacavilleMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_VacavilleMember" xml:lang="en-US" id="label_VacavilleMember_3">Represents the information pertaining to Vacaville.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VacavilleMember" xlink:to="label_VacavilleMember_3" xlink:title="label: VacavilleMember to label_VacavilleMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SeniorUnsecuredDebtMember" xlink:label="SeniorUnsecuredDebtMember" xlink:title="SeniorUnsecuredDebtMember" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeniorUnsecuredDebtMember" xml:lang="en-US" id="label_SeniorUnsecuredDebtMember">Senior unsecured notes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredDebtMember" xlink:to="label_SeniorUnsecuredDebtMember" xlink:title="label: SeniorUnsecuredDebtMember to label_SeniorUnsecuredDebtMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredDebtMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeniorUnsecuredDebtMember" xml:lang="en-US" id="label_SeniorUnsecuredDebtMember_2">Senior Unsecured Debt [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredDebtMember" xlink:to="label_SeniorUnsecuredDebtMember_2" xlink:title="label: SeniorUnsecuredDebtMember to label_SeniorUnsecuredDebtMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredDebtMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SeniorUnsecuredDebtMember" xml:lang="en-US" id="label_SeniorUnsecuredDebtMember_3">Represents senior unsecured debt.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredDebtMember" xlink:to="label_SeniorUnsecuredDebtMember_3" xlink:title="label: SeniorUnsecuredDebtMember to label_SeniorUnsecuredDebtMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RealEstateDepreciationExpense" xlink:label="RealEstateDepreciationExpense" xlink:title="RealEstateDepreciationExpense" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateDepreciationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateDepreciationExpense" xml:lang="en-US" id="label_RealEstateDepreciationExpense">Real Estate Depreciation Expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateDepreciationExpense" xlink:to="label_RealEstateDepreciationExpense" xlink:title="label: RealEstateDepreciationExpense to label_RealEstateDepreciationExpense" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateDepreciationExpense_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RealEstateDepreciationExpense" xml:lang="en-US" id="label_RealEstateDepreciationExpense_2">Represents depreciation expense on real estate during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateDepreciationExpense" xlink:to="label_RealEstateDepreciationExpense_2" xlink:title="label: RealEstateDepreciationExpense to label_RealEstateDepreciationExpense" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateDepreciationExpense_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateDepreciationExpense" xml:lang="en-US" id="label_RealEstateDepreciationExpense_3">Depreciation expense on buildings and improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateDepreciationExpense" xlink:to="label_RealEstateDepreciationExpense_3" xlink:title="label: RealEstateDepreciationExpense to label_RealEstateDepreciationExpense" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_BusinessAcquisitionWeightedAverageGAAPRentPercentage" xlink:label="BusinessAcquisitionWeightedAverageGAAPRentPercentage" xlink:title="BusinessAcquisitionWeightedAverageGAAPRentPercentage" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionWeightedAverageGAAPRentPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BusinessAcquisitionWeightedAverageGAAPRentPercentage" xml:lang="en-US" id="label_BusinessAcquisitionWeightedAverageGAAPRentPercentage">Weighted average GAAP rent (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionWeightedAverageGAAPRentPercentage" xlink:to="label_BusinessAcquisitionWeightedAverageGAAPRentPercentage" xlink:title="label: BusinessAcquisitionWeightedAverageGAAPRentPercentage to label_BusinessAcquisitionWeightedAverageGAAPRentPercentage" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionWeightedAverageGAAPRentPercentage_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BusinessAcquisitionWeightedAverageGAAPRentPercentage" xml:lang="en-US" id="label_BusinessAcquisitionWeightedAverageGAAPRentPercentage_2">Represents the percentage of weighted average GAAP rent.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionWeightedAverageGAAPRentPercentage" xlink:to="label_BusinessAcquisitionWeightedAverageGAAPRentPercentage_2" xlink:title="label: BusinessAcquisitionWeightedAverageGAAPRentPercentage to label_BusinessAcquisitionWeightedAverageGAAPRentPercentage" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionWeightedAverageGAAPRentPercentage_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BusinessAcquisitionWeightedAverageGAAPRentPercentage" xml:lang="en-US" id="label_BusinessAcquisitionWeightedAverageGAAPRentPercentage_3">Business Acquisition Weighted Average GAAP Rent Percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionWeightedAverageGAAPRentPercentage" xlink:to="label_BusinessAcquisitionWeightedAverageGAAPRentPercentage_3" xlink:title="label: BusinessAcquisitionWeightedAverageGAAPRentPercentage to label_BusinessAcquisitionWeightedAverageGAAPRentPercentage" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived" xlink:label="MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived" xlink:title="MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived" xml:lang="en-US" id="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived">Mortgage Loans on Real Estate Scheduled Principal Payment Received</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived" xlink:to="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived" xlink:title="label: MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived to label_MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived" xml:lang="en-US" id="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived_2">Represents the amount of scheduled principal payments on mortgage loans on real estate during the reporting period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived" xlink:to="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived_2" xlink:title="label: MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived to label_MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived" xml:lang="en-US" id="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived_3">Scheduled principal payments received</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived" xlink:to="label_MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived_3" xlink:title="label: MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived to label_MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_IssuanceOfSharesUnderShareBasedCompensationPlansMember" xlink:label="IssuanceOfSharesUnderShareBasedCompensationPlansMember" xlink:title="IssuanceOfSharesUnderShareBasedCompensationPlansMember" />
    <link:label xlink:type="resource" xlink:label="label_IssuanceOfSharesUnderShareBasedCompensationPlansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IssuanceOfSharesUnderShareBasedCompensationPlansMember" xml:lang="en-US" id="label_IssuanceOfSharesUnderShareBasedCompensationPlansMember">Issuance of Shares under Share Based Compensation Plans [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssuanceOfSharesUnderShareBasedCompensationPlansMember" xlink:to="label_IssuanceOfSharesUnderShareBasedCompensationPlansMember" xlink:title="label: IssuanceOfSharesUnderShareBasedCompensationPlansMember to label_IssuanceOfSharesUnderShareBasedCompensationPlansMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_IssuanceOfSharesUnderShareBasedCompensationPlansMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IssuanceOfSharesUnderShareBasedCompensationPlansMember" xml:lang="en-US" id="label_IssuanceOfSharesUnderShareBasedCompensationPlansMember_2">Issuance of shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssuanceOfSharesUnderShareBasedCompensationPlansMember" xlink:to="label_IssuanceOfSharesUnderShareBasedCompensationPlansMember_2" xlink:title="label: IssuanceOfSharesUnderShareBasedCompensationPlansMember to label_IssuanceOfSharesUnderShareBasedCompensationPlansMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_IssuanceOfSharesUnderShareBasedCompensationPlansMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IssuanceOfSharesUnderShareBasedCompensationPlansMember" xml:lang="en-US" id="label_IssuanceOfSharesUnderShareBasedCompensationPlansMember_3">Represents the issuance of shares under share-based compensation plans.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssuanceOfSharesUnderShareBasedCompensationPlansMember" xlink:to="label_IssuanceOfSharesUnderShareBasedCompensationPlansMember_3" xlink:title="label: IssuanceOfSharesUnderShareBasedCompensationPlansMember to label_IssuanceOfSharesUnderShareBasedCompensationPlansMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ConversionOfNoncontrollingInterestMember" xlink:label="ConversionOfNoncontrollingInterestMember" xlink:title="ConversionOfNoncontrollingInterestMember" />
    <link:label xlink:type="resource" xlink:label="label_ConversionOfNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConversionOfNoncontrollingInterestMember" xml:lang="en-US" id="label_ConversionOfNoncontrollingInterestMember">Conversion of Noncontrolling Interest [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConversionOfNoncontrollingInterestMember" xlink:to="label_ConversionOfNoncontrollingInterestMember" xlink:title="label: ConversionOfNoncontrollingInterestMember to label_ConversionOfNoncontrollingInterestMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ConversionOfNoncontrollingInterestMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConversionOfNoncontrollingInterestMember" xml:lang="en-US" id="label_ConversionOfNoncontrollingInterestMember_2">Conversion of noncontrolling interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConversionOfNoncontrollingInterestMember" xlink:to="label_ConversionOfNoncontrollingInterestMember_2" xlink:title="label: ConversionOfNoncontrollingInterestMember to label_ConversionOfNoncontrollingInterestMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ConversionOfNoncontrollingInterestMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ConversionOfNoncontrollingInterestMember" xml:lang="en-US" id="label_ConversionOfNoncontrollingInterestMember_3">Represents the conversion of noncontrolling interest.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConversionOfNoncontrollingInterestMember" xlink:to="label_ConversionOfNoncontrollingInterestMember_3" xlink:title="label: ConversionOfNoncontrollingInterestMember to label_ConversionOfNoncontrollingInterestMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementAllowanceAmount" xlink:label="CapitalImprovementAllowanceAmount" xlink:title="CapitalImprovementAllowanceAmount" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementAllowanceAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementAllowanceAmount" xml:lang="en-US" id="label_CapitalImprovementAllowanceAmount">Capital Improvement Allowance Amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementAllowanceAmount" xlink:to="label_CapitalImprovementAllowanceAmount" xlink:title="label: CapitalImprovementAllowanceAmount to label_CapitalImprovementAllowanceAmount" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementAllowanceAmount_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementAllowanceAmount" xml:lang="en-US" id="label_CapitalImprovementAllowanceAmount_2">Represents the amount of allowance on costs related to making changes to improve capital assets, increase their useful life, or add to the value of these assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementAllowanceAmount" xlink:to="label_CapitalImprovementAllowanceAmount_2" xlink:title="label: CapitalImprovementAllowanceAmount to label_CapitalImprovementAllowanceAmount" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementAllowanceAmount_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementAllowanceAmount" xml:lang="en-US" id="label_CapitalImprovementAllowanceAmount_3">Capital improvement allowance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementAllowanceAmount" xlink:to="label_CapitalImprovementAllowanceAmount_3" xlink:title="label: CapitalImprovementAllowanceAmount to label_CapitalImprovementAllowanceAmount" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DebtInstrumentShelfAgreementAverageLife" xlink:label="DebtInstrumentShelfAgreementAverageLife" xlink:title="DebtInstrumentShelfAgreementAverageLife" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentShelfAgreementAverageLife" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentShelfAgreementAverageLife" xml:lang="en-US" id="label_DebtInstrumentShelfAgreementAverageLife">Debt Instrument Shelf Agreement Average Life</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentShelfAgreementAverageLife" xlink:to="label_DebtInstrumentShelfAgreementAverageLife" xlink:title="label: DebtInstrumentShelfAgreementAverageLife to label_DebtInstrumentShelfAgreementAverageLife" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentShelfAgreementAverageLife_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentShelfAgreementAverageLife" xml:lang="en-US" id="label_DebtInstrumentShelfAgreementAverageLife_2">Represents the average life of senior unsecured term notes under a Debt Private Placement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentShelfAgreementAverageLife" xlink:to="label_DebtInstrumentShelfAgreementAverageLife_2" xlink:title="label: DebtInstrumentShelfAgreementAverageLife to label_DebtInstrumentShelfAgreementAverageLife" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentShelfAgreementAverageLife_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentShelfAgreementAverageLife" xml:lang="en-US" id="label_DebtInstrumentShelfAgreementAverageLife_3">Average life from the date of original issuance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentShelfAgreementAverageLife" xlink:to="label_DebtInstrumentShelfAgreementAverageLife_3" xlink:title="label: DebtInstrumentShelfAgreementAverageLife to label_DebtInstrumentShelfAgreementAverageLife" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DebtInstrumentPeriodForAnnualPrincipalPayment" xlink:label="DebtInstrumentPeriodForAnnualPrincipalPayment" xlink:title="DebtInstrumentPeriodForAnnualPrincipalPayment" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentPeriodForAnnualPrincipalPayment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentPeriodForAnnualPrincipalPayment" xml:lang="en-US" id="label_DebtInstrumentPeriodForAnnualPrincipalPayment">Debt Instrument, Period for Annual Principal Payment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentPeriodForAnnualPrincipalPayment" xlink:to="label_DebtInstrumentPeriodForAnnualPrincipalPayment" xlink:title="label: DebtInstrumentPeriodForAnnualPrincipalPayment to label_DebtInstrumentPeriodForAnnualPrincipalPayment" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentPeriodForAnnualPrincipalPayment_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentPeriodForAnnualPrincipalPayment" xml:lang="en-US" id="label_DebtInstrumentPeriodForAnnualPrincipalPayment_2">Period for scheduled annual principal pay downs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentPeriodForAnnualPrincipalPayment" xlink:to="label_DebtInstrumentPeriodForAnnualPrincipalPayment_2" xlink:title="label: DebtInstrumentPeriodForAnnualPrincipalPayment to label_DebtInstrumentPeriodForAnnualPrincipalPayment" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentPeriodForAnnualPrincipalPayment_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentPeriodForAnnualPrincipalPayment" xml:lang="en-US" id="label_DebtInstrumentPeriodForAnnualPrincipalPayment_3">Represents the period for scheduled annual principal pay downs.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentPeriodForAnnualPrincipalPayment" xlink:to="label_DebtInstrumentPeriodForAnnualPrincipalPayment_3" xlink:title="label: DebtInstrumentPeriodForAnnualPrincipalPayment to label_DebtInstrumentPeriodForAnnualPrincipalPayment" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpense" xlink:label="AllocatedShareBasedCompensationExpense" xlink:title="AllocatedShareBasedCompensationExpense" />
    <link:label xlink:type="resource" xlink:label="label_AllocatedShareBasedCompensationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AllocatedShareBasedCompensationExpense" xml:lang="en-US" id="label_AllocatedShareBasedCompensationExpense">Allocated Share-based Compensation Expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllocatedShareBasedCompensationExpense" xlink:to="label_AllocatedShareBasedCompensationExpense" xlink:title="label: AllocatedShareBasedCompensationExpense to label_AllocatedShareBasedCompensationExpense" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AllocatedShareBasedCompensationExpense_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AllocatedShareBasedCompensationExpense" xml:lang="en-US" id="label_AllocatedShareBasedCompensationExpense_2">Compensation expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllocatedShareBasedCompensationExpense" xlink:to="label_AllocatedShareBasedCompensationExpense_2" xlink:title="label: AllocatedShareBasedCompensationExpense to label_AllocatedShareBasedCompensationExpense" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner" xlink:label="NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner" xlink:title="NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner" xml:lang="en-US" id="label_NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner">Number of Partnership Units Converted by Remaining Limited Partner</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner" xlink:to="label_NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner" xlink:title="label: NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner to label_NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner" xml:lang="en-US" id="label_NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner_2">Represents the number of partnership units converted to common stock by remaining limited partner.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner" xlink:to="label_NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner_2" xlink:title="label: NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner to label_NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner" xml:lang="en-US" id="label_NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner_3">Number of partnership units converted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner" xlink:to="label_NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner_3" xlink:title="label: NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner to label_NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod" xlink:label="DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod" xlink:title="DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod" xml:lang="en-US" id="label_DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod">Debt Instrument Maturity Date, Length of Additional Optional Extension Period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod" xlink:to="label_DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod" xlink:title="label: DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod to label_DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod" xml:lang="en-US" id="label_DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod_2">Length of the additional optional extension period for the date when the debt instrument is scheduled to be fully repaid, which may be presented in a variety of ways (years, months, etc.).</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod" xlink:to="label_DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod_2" xlink:title="label: DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod to label_DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod" xml:lang="en-US" id="label_DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod_3">Additional extension period option</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod" xlink:to="label_DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod_3" xlink:title="label: DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod to label_DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ConvertiblePartnershipUnitsConversionPricePerUnit" xlink:label="ConvertiblePartnershipUnitsConversionPricePerUnit" xlink:title="ConvertiblePartnershipUnitsConversionPricePerUnit" />
    <link:label xlink:type="resource" xlink:label="label_ConvertiblePartnershipUnitsConversionPricePerUnit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConvertiblePartnershipUnitsConversionPricePerUnit" xml:lang="en-US" id="label_ConvertiblePartnershipUnitsConversionPricePerUnit">Convertible Partnership Units Conversion Price Per Unit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConvertiblePartnershipUnitsConversionPricePerUnit" xlink:to="label_ConvertiblePartnershipUnitsConversionPricePerUnit" xlink:title="label: ConvertiblePartnershipUnitsConversionPricePerUnit to label_ConvertiblePartnershipUnitsConversionPricePerUnit" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ConvertiblePartnershipUnitsConversionPricePerUnit_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ConvertiblePartnershipUnitsConversionPricePerUnit" xml:lang="en-US" id="label_ConvertiblePartnershipUnitsConversionPricePerUnit_2">Represents the partnership unit conversion price per unit.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConvertiblePartnershipUnitsConversionPricePerUnit" xlink:to="label_ConvertiblePartnershipUnitsConversionPricePerUnit_2" xlink:title="label: ConvertiblePartnershipUnitsConversionPricePerUnit to label_ConvertiblePartnershipUnitsConversionPricePerUnit" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ConvertiblePartnershipUnitsConversionPricePerUnit_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConvertiblePartnershipUnitsConversionPricePerUnit" xml:lang="en-US" id="label_ConvertiblePartnershipUnitsConversionPricePerUnit_3">Partnership unit conversion price (per unit)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConvertiblePartnershipUnitsConversionPricePerUnit" xlink:to="label_ConvertiblePartnershipUnitsConversionPricePerUnit_3" xlink:title="label: ConvertiblePartnershipUnitsConversionPricePerUnit to label_ConvertiblePartnershipUnitsConversionPricePerUnit" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedVestingDateAxis" xlink:label="ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedVestingDateAxis" xlink:title="ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedVestingDateAxis" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedVestingDateAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedVestingDateAxis" xml:lang="en-US" id="label_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedVestingDateAxis">Schedule of Share Based Compensation Arrangement by Share Based Payment Award, Award Granted, Vesting Date [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedVestingDateAxis" xlink:to="label_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedVestingDateAxis" xlink:title="label: ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedVestingDateAxis to label_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedVestingDateAxis" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedVestingDateAxis_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedVestingDateAxis" xml:lang="en-US" id="label_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedVestingDateAxis_2">Reflects the required information pertaining to awards granted under equity-based compensation plans, by vesting date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedVestingDateAxis" xlink:to="label_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedVestingDateAxis_2" xlink:title="label: ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedVestingDateAxis to label_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantedVestingDateAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedVestingDateDomain" xlink:label="ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedVestingDateDomain" xlink:title="ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedVestingDateDomain" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedVestingDateDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedVestingDateDomain" xml:lang="en-US" id="label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedVestingDateDomain">Share Based Compensation Arrangements by Share Based Payment Award, Award Granted, Vesting Date [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedVestingDateDomain" xlink:to="label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedVestingDateDomain" xlink:title="label: ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedVestingDateDomain to label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedVestingDateDomain" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedVestingDateDomain_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedVestingDateDomain" xml:lang="en-US" id="label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedVestingDateDomain_2">Supplementary information on awards granted by the vesting date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedVestingDateDomain" xlink:to="label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedVestingDateDomain_2" xlink:title="label: ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedVestingDateDomain to label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardGrantedVestingDateDomain" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledNursingPropertiesWith144UnitsMember" xlink:label="SkilledNursingPropertiesWith144UnitsMember" xlink:title="SkilledNursingPropertiesWith144UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith144UnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledNursingPropertiesWith144UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith144UnitsMember">Skilled Nursing Properties with 144 Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith144UnitsMember" xlink:to="label_SkilledNursingPropertiesWith144UnitsMember" xlink:title="label: SkilledNursingPropertiesWith144UnitsMember to label_SkilledNursingPropertiesWith144UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith144UnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledNursingPropertiesWith144UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith144UnitsMember_2">144-bed skilled nursing property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith144UnitsMember" xlink:to="label_SkilledNursingPropertiesWith144UnitsMember_2" xlink:title="label: SkilledNursingPropertiesWith144UnitsMember to label_SkilledNursingPropertiesWith144UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith144UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledNursingPropertiesWith144UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith144UnitsMember_3">Represents the information pertaining to skilled nursing facility properties comprising of 144 units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith144UnitsMember" xlink:to="label_SkilledNursingPropertiesWith144UnitsMember_3" xlink:title="label: SkilledNursingPropertiesWith144UnitsMember to label_SkilledNursingPropertiesWith144UnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledNursingPropertiesWith143UnitsMember" xlink:label="SkilledNursingPropertiesWith143UnitsMember" xlink:title="SkilledNursingPropertiesWith143UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith143UnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledNursingPropertiesWith143UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith143UnitsMember">Skilled Nursing Properties with 143 Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith143UnitsMember" xlink:to="label_SkilledNursingPropertiesWith143UnitsMember" xlink:title="label: SkilledNursingPropertiesWith143UnitsMember to label_SkilledNursingPropertiesWith143UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith143UnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledNursingPropertiesWith143UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith143UnitsMember_2">143-bed skilled nursing property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith143UnitsMember" xlink:to="label_SkilledNursingPropertiesWith143UnitsMember_2" xlink:title="label: SkilledNursingPropertiesWith143UnitsMember to label_SkilledNursingPropertiesWith143UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith143UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledNursingPropertiesWith143UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith143UnitsMember_3">Represents the information pertaining to skilled nursing facility properties comprised of 143 units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith143UnitsMember" xlink:to="label_SkilledNursingPropertiesWith143UnitsMember_3" xlink:title="label: SkilledNursingPropertiesWith143UnitsMember to label_SkilledNursingPropertiesWith143UnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledNursingPropertiesWith106UnitsMember" xlink:label="SkilledNursingPropertiesWith106UnitsMember" xlink:title="SkilledNursingPropertiesWith106UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith106UnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledNursingPropertiesWith106UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith106UnitsMember">Skilled Nursing Properties with 106 Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith106UnitsMember" xlink:to="label_SkilledNursingPropertiesWith106UnitsMember" xlink:title="label: SkilledNursingPropertiesWith106UnitsMember to label_SkilledNursingPropertiesWith106UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith106UnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledNursingPropertiesWith106UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith106UnitsMember_2">106-bed skilled nursing property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith106UnitsMember" xlink:to="label_SkilledNursingPropertiesWith106UnitsMember_2" xlink:title="label: SkilledNursingPropertiesWith106UnitsMember to label_SkilledNursingPropertiesWith106UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith106UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledNursingPropertiesWith106UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith106UnitsMember_3">Represents the information pertaining to skilled nursing facility properties comprising of 106 units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith106UnitsMember" xlink:to="label_SkilledNursingPropertiesWith106UnitsMember_3" xlink:title="label: SkilledNursingPropertiesWith106UnitsMember to label_SkilledNursingPropertiesWith106UnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_AssistedLivingPropertyWith70UnitsMember" xlink:label="AssistedLivingPropertyWith70UnitsMember" xlink:title="AssistedLivingPropertyWith70UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingPropertyWith70UnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssistedLivingPropertyWith70UnitsMember" xml:lang="en-US" id="label_AssistedLivingPropertyWith70UnitsMember">Assisted Living Property with 70 Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingPropertyWith70UnitsMember" xlink:to="label_AssistedLivingPropertyWith70UnitsMember" xlink:title="label: AssistedLivingPropertyWith70UnitsMember to label_AssistedLivingPropertyWith70UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingPropertyWith70UnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssistedLivingPropertyWith70UnitsMember" xml:lang="en-US" id="label_AssistedLivingPropertyWith70UnitsMember_2">70-unit assisted living property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingPropertyWith70UnitsMember" xlink:to="label_AssistedLivingPropertyWith70UnitsMember_2" xlink:title="label: AssistedLivingPropertyWith70UnitsMember to label_AssistedLivingPropertyWith70UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingPropertyWith70UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AssistedLivingPropertyWith70UnitsMember" xml:lang="en-US" id="label_AssistedLivingPropertyWith70UnitsMember_3">Represents information pertaining to assisted living memory care property comprising of 70 units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingPropertyWith70UnitsMember" xlink:to="label_AssistedLivingPropertyWith70UnitsMember_3" xlink:title="label: AssistedLivingPropertyWith70UnitsMember to label_AssistedLivingPropertyWith70UnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledNursingPropertiesWith195UnitsMember" xlink:label="SkilledNursingPropertiesWith195UnitsMember" xlink:title="SkilledNursingPropertiesWith195UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith195UnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledNursingPropertiesWith195UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith195UnitsMember">Skilled Nursing Properties with 195 Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith195UnitsMember" xlink:to="label_SkilledNursingPropertiesWith195UnitsMember" xlink:title="label: SkilledNursingPropertiesWith195UnitsMember to label_SkilledNursingPropertiesWith195UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith195UnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledNursingPropertiesWith195UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith195UnitsMember_2">195-bed skilled nursing property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith195UnitsMember" xlink:to="label_SkilledNursingPropertiesWith195UnitsMember_2" xlink:title="label: SkilledNursingPropertiesWith195UnitsMember to label_SkilledNursingPropertiesWith195UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith195UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledNursingPropertiesWith195UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith195UnitsMember_3">Represents the information pertaining to skilled nursing facility properties comprising of 195 units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith195UnitsMember" xlink:to="label_SkilledNursingPropertiesWith195UnitsMember_3" xlink:title="label: SkilledNursingPropertiesWith195UnitsMember to label_SkilledNursingPropertiesWith195UnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledNursingPropertiesWith156UnitsMember" xlink:label="SkilledNursingPropertiesWith156UnitsMember" xlink:title="SkilledNursingPropertiesWith156UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith156UnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledNursingPropertiesWith156UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith156UnitsMember">Skilled Nursing Properties with 156 Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith156UnitsMember" xlink:to="label_SkilledNursingPropertiesWith156UnitsMember" xlink:title="label: SkilledNursingPropertiesWith156UnitsMember to label_SkilledNursingPropertiesWith156UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith156UnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledNursingPropertiesWith156UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith156UnitsMember_2">156-bed skilled nursing property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith156UnitsMember" xlink:to="label_SkilledNursingPropertiesWith156UnitsMember_2" xlink:title="label: SkilledNursingPropertiesWith156UnitsMember to label_SkilledNursingPropertiesWith156UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith156UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledNursingPropertiesWith156UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith156UnitsMember_3">Represents the information pertaining to skilled nursing facility properties comprising of 156 units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith156UnitsMember" xlink:to="label_SkilledNursingPropertiesWith156UnitsMember_3" xlink:title="label: SkilledNursingPropertiesWith156UnitsMember to label_SkilledNursingPropertiesWith156UnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_VestingDate15June2015Member" xlink:label="VestingDate15June2015Member" xlink:title="VestingDate15June2015Member" />
    <link:label xlink:type="resource" xlink:label="label_VestingDate15June2015Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_VestingDate15June2015Member" xml:lang="en-US" id="label_VestingDate15June2015Member">Represents information pertaining to the stock awards vesting on June 15, 2015.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VestingDate15June2015Member" xlink:to="label_VestingDate15June2015Member" xlink:title="label: VestingDate15June2015Member to label_VestingDate15June2015Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_VestingDate15June2015Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_VestingDate15June2015Member" xml:lang="en-US" id="label_VestingDate15June2015Member_2">Vesting on June 15, 2015</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VestingDate15June2015Member" xlink:to="label_VestingDate15June2015Member_2" xlink:title="label: VestingDate15June2015Member to label_VestingDate15June2015Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_VestingDate15June2015Member_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_VestingDate15June2015Member" xml:lang="en-US" id="label_VestingDate15June2015Member_3">Vesting Date 15 June, 2015 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VestingDate15June2015Member" xlink:to="label_VestingDate15June2015Member_3" xlink:title="label: VestingDate15June2015Member to label_VestingDate15June2015Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_VestingDate10January2016Member" xlink:label="VestingDate10January2016Member" xlink:title="VestingDate10January2016Member" />
    <link:label xlink:type="resource" xlink:label="label_VestingDate10January2016Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_VestingDate10January2016Member" xml:lang="en-US" id="label_VestingDate10January2016Member">Represents information pertaining to the stock awards vesting on January 10, 2016.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VestingDate10January2016Member" xlink:to="label_VestingDate10January2016Member" xlink:title="label: VestingDate10January2016Member to label_VestingDate10January2016Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_VestingDate10January2016Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_VestingDate10January2016Member" xml:lang="en-US" id="label_VestingDate10January2016Member_2">Vesting on January 10, 2016</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VestingDate10January2016Member" xlink:to="label_VestingDate10January2016Member_2" xlink:title="label: VestingDate10January2016Member to label_VestingDate10January2016Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_VestingDate10January2016Member_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_VestingDate10January2016Member" xml:lang="en-US" id="label_VestingDate10January2016Member_3">Vesting Date 10 January, 2016 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VestingDate10January2016Member" xlink:to="label_VestingDate10January2016Member_3" xlink:title="label: VestingDate10January2016Member to label_VestingDate10January2016Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AllowanceForLoanAndLeaseLossesRealEstate" xlink:label="AllowanceForLoanAndLeaseLossesRealEstate" xlink:title="AllowanceForLoanAndLeaseLossesRealEstate" />
    <link:label xlink:type="resource" xlink:label="label_AllowanceForLoanAndLeaseLossesRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AllowanceForLoanAndLeaseLossesRealEstate" xml:lang="en-US" id="label_AllowanceForLoanAndLeaseLossesRealEstate">Allowance for Loan and Lease Losses, Real Estate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllowanceForLoanAndLeaseLossesRealEstate" xlink:to="label_AllowanceForLoanAndLeaseLossesRealEstate" xlink:title="label: AllowanceForLoanAndLeaseLossesRealEstate to label_AllowanceForLoanAndLeaseLossesRealEstate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AllowanceForLoanAndLeaseLossesRealEstate_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AllowanceForLoanAndLeaseLossesRealEstate" xml:lang="en-US" id="label_AllowanceForLoanAndLeaseLossesRealEstate_2">Mortgage loans receivable, allowance for doubtful accounts (in dollars)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllowanceForLoanAndLeaseLossesRealEstate" xlink:to="label_AllowanceForLoanAndLeaseLossesRealEstate_2" xlink:title="label: AllowanceForLoanAndLeaseLossesRealEstate to label_AllowanceForLoanAndLeaseLossesRealEstate" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest" xlink:label="MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest" xlink:title="MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest" />
    <link:label xlink:type="resource" xlink:label="label_MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest" xml:lang="en-US" id="label_MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest">Margin Added to Redemption Date Common Stock Price to Determine Payments for Repurchase of Redeemable Noncontrolling Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest" xlink:to="label_MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest" xlink:title="label: MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest to label_MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest" xml:lang="en-US" id="label_MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest_2">Margin added to the common stock price per share on redemption date to determine amount to be paid to limited partner</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest" xlink:to="label_MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest_2" xlink:title="label: MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest to label_MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest" xml:lang="en-US" id="label_MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest_3">Represents the margin added to common stock price per share on the redemption date to determine the amount to be paid upon the redemption of redeemable noncontrolling interests.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest" xlink:to="label_MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest_3" xlink:title="label: MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest to label_MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledNursingPropertiesWith196UnitsMember" xlink:label="SkilledNursingPropertiesWith196UnitsMember" xlink:title="SkilledNursingPropertiesWith196UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith196UnitsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledNursingPropertiesWith196UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith196UnitsMember">Represents the information pertaining to skilled nursing facility properties comprising of 196 units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith196UnitsMember" xlink:to="label_SkilledNursingPropertiesWith196UnitsMember" xlink:title="label: SkilledNursingPropertiesWith196UnitsMember to label_SkilledNursingPropertiesWith196UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith196UnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledNursingPropertiesWith196UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith196UnitsMember_2">Skilled Nursing Properties with 196 Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith196UnitsMember" xlink:to="label_SkilledNursingPropertiesWith196UnitsMember_2" xlink:title="label: SkilledNursingPropertiesWith196UnitsMember to label_SkilledNursingPropertiesWith196UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith196UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledNursingPropertiesWith196UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith196UnitsMember_3">196-bed skilled nursing property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith196UnitsMember" xlink:to="label_SkilledNursingPropertiesWith196UnitsMember_3" xlink:title="label: SkilledNursingPropertiesWith196UnitsMember to label_SkilledNursingPropertiesWith196UnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledNursingPropertiesUnderDevelopmentWith120UnitsMember" xlink:label="SkilledNursingPropertiesUnderDevelopmentWith120UnitsMember" xlink:title="SkilledNursingPropertiesUnderDevelopmentWith120UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesUnderDevelopmentWith120UnitsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledNursingPropertiesUnderDevelopmentWith120UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesUnderDevelopmentWith120UnitsMember">Represents the information pertaining to skilled nursing facility properties under development comprising of 120 units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesUnderDevelopmentWith120UnitsMember" xlink:to="label_SkilledNursingPropertiesUnderDevelopmentWith120UnitsMember" xlink:title="label: SkilledNursingPropertiesUnderDevelopmentWith120UnitsMember to label_SkilledNursingPropertiesUnderDevelopmentWith120UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesUnderDevelopmentWith120UnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledNursingPropertiesUnderDevelopmentWith120UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesUnderDevelopmentWith120UnitsMember_2">Skilled Nursing Properties under Development with 120 Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesUnderDevelopmentWith120UnitsMember" xlink:to="label_SkilledNursingPropertiesUnderDevelopmentWith120UnitsMember_2" xlink:title="label: SkilledNursingPropertiesUnderDevelopmentWith120UnitsMember to label_SkilledNursingPropertiesUnderDevelopmentWith120UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesUnderDevelopmentWith120UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledNursingPropertiesUnderDevelopmentWith120UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesUnderDevelopmentWith120UnitsMember_3">120-bed skilled nursing property under development</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesUnderDevelopmentWith120UnitsMember" xlink:to="label_SkilledNursingPropertiesUnderDevelopmentWith120UnitsMember_3" xlink:title="label: SkilledNursingPropertiesUnderDevelopmentWith120UnitsMember to label_SkilledNursingPropertiesUnderDevelopmentWith120UnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledNursingPropertiesWith90UnitsMember" xlink:label="SkilledNursingPropertiesWith90UnitsMember" xlink:title="SkilledNursingPropertiesWith90UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith90UnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledNursingPropertiesWith90UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith90UnitsMember">Skilled Nursing Properties with 90 Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith90UnitsMember" xlink:to="label_SkilledNursingPropertiesWith90UnitsMember" xlink:title="label: SkilledNursingPropertiesWith90UnitsMember to label_SkilledNursingPropertiesWith90UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith90UnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledNursingPropertiesWith90UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith90UnitsMember_2">90-bed skilled nursing property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith90UnitsMember" xlink:to="label_SkilledNursingPropertiesWith90UnitsMember_2" xlink:title="label: SkilledNursingPropertiesWith90UnitsMember to label_SkilledNursingPropertiesWith90UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith90UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledNursingPropertiesWith90UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith90UnitsMember_3">Represents the information pertaining to skilled nursing facility properties comprising of 90 units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith90UnitsMember" xlink:to="label_SkilledNursingPropertiesWith90UnitsMember_3" xlink:title="label: SkilledNursingPropertiesWith90UnitsMember to label_SkilledNursingPropertiesWith90UnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledNursingPropertiesUnderDevelopmentMember" xlink:label="SkilledNursingPropertiesUnderDevelopmentMember" xlink:title="SkilledNursingPropertiesUnderDevelopmentMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesUnderDevelopmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledNursingPropertiesUnderDevelopmentMember" xml:lang="en-US" id="label_SkilledNursingPropertiesUnderDevelopmentMember">Skilled Nursing Under Development</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesUnderDevelopmentMember" xlink:to="label_SkilledNursingPropertiesUnderDevelopmentMember" xlink:title="label: SkilledNursingPropertiesUnderDevelopmentMember to label_SkilledNursingPropertiesUnderDevelopmentMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesUnderDevelopmentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledNursingPropertiesUnderDevelopmentMember" xml:lang="en-US" id="label_SkilledNursingPropertiesUnderDevelopmentMember_2">Represents the information pertaining to skilled nursing facility properties that are under development.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesUnderDevelopmentMember" xlink:to="label_SkilledNursingPropertiesUnderDevelopmentMember_2" xlink:title="label: SkilledNursingPropertiesUnderDevelopmentMember to label_SkilledNursingPropertiesUnderDevelopmentMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesUnderDevelopmentMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledNursingPropertiesUnderDevelopmentMember" xml:lang="en-US" id="label_SkilledNursingPropertiesUnderDevelopmentMember_3">Skilled Nursing Properties under Development [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesUnderDevelopmentMember" xlink:to="label_SkilledNursingPropertiesUnderDevelopmentMember_3" xlink:title="label: SkilledNursingPropertiesUnderDevelopmentMember to label_SkilledNursingPropertiesUnderDevelopmentMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledNursingPropertiesWith140UnitsMember" xlink:label="SkilledNursingPropertiesWith140UnitsMember" xlink:title="SkilledNursingPropertiesWith140UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith140UnitsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledNursingPropertiesWith140UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith140UnitsMember">Represents the information pertaining to skilled nursing facility properties comprising of 140 units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith140UnitsMember" xlink:to="label_SkilledNursingPropertiesWith140UnitsMember" xlink:title="label: SkilledNursingPropertiesWith140UnitsMember to label_SkilledNursingPropertiesWith140UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith140UnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledNursingPropertiesWith140UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith140UnitsMember_2">Skilled Nursing Properties with 140 Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith140UnitsMember" xlink:to="label_SkilledNursingPropertiesWith140UnitsMember_2" xlink:title="label: SkilledNursingPropertiesWith140UnitsMember to label_SkilledNursingPropertiesWith140UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith140UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledNursingPropertiesWith140UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith140UnitsMember_3">140-bed skilled nursing property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith140UnitsMember" xlink:to="label_SkilledNursingPropertiesWith140UnitsMember_3" xlink:title="label: SkilledNursingPropertiesWith140UnitsMember to label_SkilledNursingPropertiesWith140UnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledNursingPropertiesWith230UnitsMember" xlink:label="SkilledNursingPropertiesWith230UnitsMember" xlink:title="SkilledNursingPropertiesWith230UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith230UnitsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledNursingPropertiesWith230UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith230UnitsMember">230-bed skilled nursing property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith230UnitsMember" xlink:to="label_SkilledNursingPropertiesWith230UnitsMember" xlink:title="label: SkilledNursingPropertiesWith230UnitsMember to label_SkilledNursingPropertiesWith230UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith230UnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledNursingPropertiesWith230UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith230UnitsMember_2">Skilled Nursing Properties with 230 Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith230UnitsMember" xlink:to="label_SkilledNursingPropertiesWith230UnitsMember_2" xlink:title="label: SkilledNursingPropertiesWith230UnitsMember to label_SkilledNursingPropertiesWith230UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith230UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledNursingPropertiesWith230UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith230UnitsMember_3">Represents the information pertaining to skilled nursing facility properties comprising of 230units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith230UnitsMember" xlink:to="label_SkilledNursingPropertiesWith230UnitsMember_3" xlink:title="label: SkilledNursingPropertiesWith230UnitsMember to label_SkilledNursingPropertiesWith230UnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledNursingPropertiesWith524UnitsMember" xlink:label="SkilledNursingPropertiesWith524UnitsMember" xlink:title="SkilledNursingPropertiesWith524UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith524UnitsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledNursingPropertiesWith524UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith524UnitsMember">Represents the information pertaining to skilled nursing facility properties comprising of 524 units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith524UnitsMember" xlink:to="label_SkilledNursingPropertiesWith524UnitsMember" xlink:title="label: SkilledNursingPropertiesWith524UnitsMember to label_SkilledNursingPropertiesWith524UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith524UnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledNursingPropertiesWith524UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith524UnitsMember_2">Skilled Nursing Properties with 524 Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith524UnitsMember" xlink:to="label_SkilledNursingPropertiesWith524UnitsMember_2" xlink:title="label: SkilledNursingPropertiesWith524UnitsMember to label_SkilledNursingPropertiesWith524UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith524UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledNursingPropertiesWith524UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith524UnitsMember_3">524-bed skilled nursing property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith524UnitsMember" xlink:to="label_SkilledNursingPropertiesWith524UnitsMember_3" xlink:title="label: SkilledNursingPropertiesWith524UnitsMember to label_SkilledNursingPropertiesWith524UnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledNursingPropertiesWith234UnitsMember" xlink:label="SkilledNursingPropertiesWith234UnitsMember" xlink:title="SkilledNursingPropertiesWith234UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith234UnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledNursingPropertiesWith234UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith234UnitsMember">Skilled Nursing Properties with 234 Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith234UnitsMember" xlink:to="label_SkilledNursingPropertiesWith234UnitsMember" xlink:title="label: SkilledNursingPropertiesWith234UnitsMember to label_SkilledNursingPropertiesWith234UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith234UnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledNursingPropertiesWith234UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith234UnitsMember_2">234-bed skilled nursing property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith234UnitsMember" xlink:to="label_SkilledNursingPropertiesWith234UnitsMember_2" xlink:title="label: SkilledNursingPropertiesWith234UnitsMember to label_SkilledNursingPropertiesWith234UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertiesWith234UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledNursingPropertiesWith234UnitsMember" xml:lang="en-US" id="label_SkilledNursingPropertiesWith234UnitsMember_3">Represents the information pertaining to skilled nursing facility properties comprising of 234 units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertiesWith234UnitsMember" xlink:to="label_SkilledNursingPropertiesWith234UnitsMember_3" xlink:title="label: SkilledNursingPropertiesWith234UnitsMember to label_SkilledNursingPropertiesWith234UnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_PropertiesNumberOfUnitsOrBeds" xlink:label="PropertiesNumberOfUnitsOrBeds" xlink:title="PropertiesNumberOfUnitsOrBeds" />
    <link:label xlink:type="resource" xlink:label="label_PropertiesNumberOfUnitsOrBeds" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PropertiesNumberOfUnitsOrBeds" xml:lang="en-US" id="label_PropertiesNumberOfUnitsOrBeds">Properties Number of Units or Beds</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertiesNumberOfUnitsOrBeds" xlink:to="label_PropertiesNumberOfUnitsOrBeds" xlink:title="label: PropertiesNumberOfUnitsOrBeds to label_PropertiesNumberOfUnitsOrBeds" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PropertiesNumberOfUnitsOrBeds_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PropertiesNumberOfUnitsOrBeds" xml:lang="en-US" id="label_PropertiesNumberOfUnitsOrBeds_2">Number of Beds/Units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertiesNumberOfUnitsOrBeds" xlink:to="label_PropertiesNumberOfUnitsOrBeds_2" xlink:title="label: PropertiesNumberOfUnitsOrBeds to label_PropertiesNumberOfUnitsOrBeds" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PropertiesNumberOfUnitsOrBeds_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PropertiesNumberOfUnitsOrBeds" xml:lang="en-US" id="label_PropertiesNumberOfUnitsOrBeds_3">Represents the number of units or beds of properties under mortgage loans or owned by the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertiesNumberOfUnitsOrBeds" xlink:to="label_PropertiesNumberOfUnitsOrBeds_3" xlink:title="label: PropertiesNumberOfUnitsOrBeds to label_PropertiesNumberOfUnitsOrBeds" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NumberOfBedsAndUnitsUnderInvestmentCommitments" xlink:label="NumberOfBedsAndUnitsUnderInvestmentCommitments" xlink:title="NumberOfBedsAndUnitsUnderInvestmentCommitments" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfBedsAndUnitsUnderInvestmentCommitments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfBedsAndUnitsUnderInvestmentCommitments" xml:lang="en-US" id="label_NumberOfBedsAndUnitsUnderInvestmentCommitments">Number of Beds and Units under Investment Commitments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfBedsAndUnitsUnderInvestmentCommitments" xlink:to="label_NumberOfBedsAndUnitsUnderInvestmentCommitments" xlink:title="label: NumberOfBedsAndUnitsUnderInvestmentCommitments to label_NumberOfBedsAndUnitsUnderInvestmentCommitments" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfBedsAndUnitsUnderInvestmentCommitments_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfBedsAndUnitsUnderInvestmentCommitments" xml:lang="en-US" id="label_NumberOfBedsAndUnitsUnderInvestmentCommitments_2">Number of Beds/Units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfBedsAndUnitsUnderInvestmentCommitments" xlink:to="label_NumberOfBedsAndUnitsUnderInvestmentCommitments_2" xlink:title="label: NumberOfBedsAndUnitsUnderInvestmentCommitments to label_NumberOfBedsAndUnitsUnderInvestmentCommitments" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfBedsAndUnitsUnderInvestmentCommitments_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfBedsAndUnitsUnderInvestmentCommitments" xml:lang="en-US" id="label_NumberOfBedsAndUnitsUnderInvestmentCommitments_3">Represents the number of beds and units under investment commitments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfBedsAndUnitsUnderInvestmentCommitments" xlink:to="label_NumberOfBedsAndUnitsUnderInvestmentCommitments_3" xlink:title="label: NumberOfBedsAndUnitsUnderInvestmentCommitments to label_NumberOfBedsAndUnitsUnderInvestmentCommitments" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_PropertiesHeldForSaleNumberOfUnits" xlink:label="PropertiesHeldForSaleNumberOfUnits" xlink:title="PropertiesHeldForSaleNumberOfUnits" />
    <link:label xlink:type="resource" xlink:label="label_PropertiesHeldForSaleNumberOfUnits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PropertiesHeldForSaleNumberOfUnits" xml:lang="en-US" id="label_PropertiesHeldForSaleNumberOfUnits">Properties Held for Sale, Number of Units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertiesHeldForSaleNumberOfUnits" xlink:to="label_PropertiesHeldForSaleNumberOfUnits" xlink:title="label: PropertiesHeldForSaleNumberOfUnits to label_PropertiesHeldForSaleNumberOfUnits" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PropertiesHeldForSaleNumberOfUnits_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PropertiesHeldForSaleNumberOfUnits" xml:lang="en-US" id="label_PropertiesHeldForSaleNumberOfUnits_2">Represents the number of units in properties classified as held-for-sale.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertiesHeldForSaleNumberOfUnits" xlink:to="label_PropertiesHeldForSaleNumberOfUnits_2" xlink:title="label: PropertiesHeldForSaleNumberOfUnits to label_PropertiesHeldForSaleNumberOfUnits" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PropertiesHeldForSaleNumberOfUnits_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PropertiesHeldForSaleNumberOfUnits" xml:lang="en-US" id="label_PropertiesHeldForSaleNumberOfUnits_3">Number of units in properties classified as held-for-sale</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertiesHeldForSaleNumberOfUnits" xlink:to="label_PropertiesHeldForSaleNumberOfUnits_3" xlink:title="label: PropertiesHeldForSaleNumberOfUnits to label_PropertiesHeldForSaleNumberOfUnits" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterestAbstract" xlink:label="NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterestAbstract" xlink:title="NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterestAbstract" />
    <link:label xlink:type="resource" xlink:label="label_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterestAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterestAbstract" xml:lang="en-US" id="label_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterestAbstract">Net Income (Loss) after Adjustment to Conversion of Noncontrolling Interest [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterestAbstract" xlink:to="label_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterestAbstract" xlink:title="label: NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterestAbstract to label_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterestAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterestAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterestAbstract" xml:lang="en-US" id="label_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterestAbstract_2">Change from net income attributable to and transfers from non-controlling interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterestAbstract" xlink:to="label_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterestAbstract_2" xlink:title="label: NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterestAbstract to label_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterestAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DiscontinuedOperationProvisionForDoubtfulAccounts" xlink:label="DiscontinuedOperationProvisionForDoubtfulAccounts" xlink:title="DiscontinuedOperationProvisionForDoubtfulAccounts" />
    <link:label xlink:type="resource" xlink:label="label_DiscontinuedOperationProvisionForDoubtfulAccounts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DiscontinuedOperationProvisionForDoubtfulAccounts" xml:lang="en-US" id="label_DiscontinuedOperationProvisionForDoubtfulAccounts">Discontinued Operation Provision for Doubtful Accounts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DiscontinuedOperationProvisionForDoubtfulAccounts" xlink:to="label_DiscontinuedOperationProvisionForDoubtfulAccounts" xlink:title="label: DiscontinuedOperationProvisionForDoubtfulAccounts to label_DiscontinuedOperationProvisionForDoubtfulAccounts" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DiscontinuedOperationProvisionForDoubtfulAccounts_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DiscontinuedOperationProvisionForDoubtfulAccounts" xml:lang="en-US" id="label_DiscontinuedOperationProvisionForDoubtfulAccounts_2">Provisions for doubtful accounts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DiscontinuedOperationProvisionForDoubtfulAccounts" xlink:to="label_DiscontinuedOperationProvisionForDoubtfulAccounts_2" xlink:title="label: DiscontinuedOperationProvisionForDoubtfulAccounts to label_DiscontinuedOperationProvisionForDoubtfulAccounts" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DiscontinuedOperationProvisionForDoubtfulAccounts_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DiscontinuedOperationProvisionForDoubtfulAccounts" xml:lang="en-US" id="label_DiscontinuedOperationProvisionForDoubtfulAccounts_3">Amount of provision for doubtful accounts attributable to the disposal group, including a component of the entity (discontinued operation), during the reporting period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DiscontinuedOperationProvisionForDoubtfulAccounts" xlink:to="label_DiscontinuedOperationProvisionForDoubtfulAccounts_3" xlink:title="label: DiscontinuedOperationProvisionForDoubtfulAccounts to label_DiscontinuedOperationProvisionForDoubtfulAccounts" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SeniorUnsecuredTermNotes4.80PercentDue20July2021Member" xlink:label="SeniorUnsecuredTermNotes4.80PercentDue20July2021Member" xlink:title="SeniorUnsecuredTermNotes4.80PercentDue20July2021Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredTermNotes4.80PercentDue20July2021Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeniorUnsecuredTermNotes4.80PercentDue20July2021Member" xml:lang="en-US" id="label_SeniorUnsecuredTermNotes4.80PercentDue20July2021Member">Senior Unsecured Term Notes 4.80 Percent Due 20 July 2021 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredTermNotes4.80PercentDue20July2021Member" xlink:to="label_SeniorUnsecuredTermNotes4.80PercentDue20July2021Member" xlink:title="label: SeniorUnsecuredTermNotes4.80PercentDue20July2021Member to label_SeniorUnsecuredTermNotes4.80PercentDue20July2021Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredTermNotes4.80PercentDue20July2021Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeniorUnsecuredTermNotes4.80PercentDue20July2021Member" xml:lang="en-US" id="label_SeniorUnsecuredTermNotes4.80PercentDue20July2021Member_2">4.80% senior unsecured term notes due July 20, 2021</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredTermNotes4.80PercentDue20July2021Member" xlink:to="label_SeniorUnsecuredTermNotes4.80PercentDue20July2021Member_2" xlink:title="label: SeniorUnsecuredTermNotes4.80PercentDue20July2021Member to label_SeniorUnsecuredTermNotes4.80PercentDue20July2021Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredTermNotes4.80PercentDue20July2021Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SeniorUnsecuredTermNotes4.80PercentDue20July2021Member" xml:lang="en-US" id="label_SeniorUnsecuredTermNotes4.80PercentDue20July2021Member_3">Represents the senior unsecured term notes bearing an interest of 4.80 percent due July 20, 2021.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredTermNotes4.80PercentDue20July2021Member" xlink:to="label_SeniorUnsecuredTermNotes4.80PercentDue20July2021Member_3" xlink:title="label: SeniorUnsecuredTermNotes4.80PercentDue20July2021Member to label_SeniorUnsecuredTermNotes4.80PercentDue20July2021Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SeniorUnsecuredNotesMaturingIn2020AndBeyondMember" xlink:label="SeniorUnsecuredNotesMaturingIn2020AndBeyondMember" xlink:title="SeniorUnsecuredNotesMaturingIn2020AndBeyondMember" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredNotesMaturingIn2020AndBeyondMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeniorUnsecuredNotesMaturingIn2020AndBeyondMember" xml:lang="en-US" id="label_SeniorUnsecuredNotesMaturingIn2020AndBeyondMember">Senior Unsecured Term Notes Due on or after 20 July 2021 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredNotesMaturingIn2020AndBeyondMember" xlink:to="label_SeniorUnsecuredNotesMaturingIn2020AndBeyondMember" xlink:title="label: SeniorUnsecuredNotesMaturingIn2020AndBeyondMember to label_SeniorUnsecuredNotesMaturingIn2020AndBeyondMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredNotesMaturingIn2020AndBeyondMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SeniorUnsecuredNotesMaturingIn2020AndBeyondMember" xml:lang="en-US" id="label_SeniorUnsecuredNotesMaturingIn2020AndBeyondMember_2">Represents the senior unsecured term notes due on or after January 1, 2020.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredNotesMaturingIn2020AndBeyondMember" xlink:to="label_SeniorUnsecuredNotesMaturingIn2020AndBeyondMember_2" xlink:title="label: SeniorUnsecuredNotesMaturingIn2020AndBeyondMember to label_SeniorUnsecuredNotesMaturingIn2020AndBeyondMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredNotesMaturingIn2020AndBeyondMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeniorUnsecuredNotesMaturingIn2020AndBeyondMember" xml:lang="en-US" id="label_SeniorUnsecuredNotesMaturingIn2020AndBeyondMember_3">Senior unsecured notes maturing in 2020 and beyond</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredNotesMaturingIn2020AndBeyondMember" xlink:to="label_SeniorUnsecuredNotesMaturingIn2020AndBeyondMember_3" xlink:title="label: SeniorUnsecuredNotesMaturingIn2020AndBeyondMember to label_SeniorUnsecuredNotesMaturingIn2020AndBeyondMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SeniorUnsecuredTermNotes5.0PercentDue19July2024Member" xlink:label="SeniorUnsecuredTermNotes5.0PercentDue19July2024Member" xlink:title="SeniorUnsecuredTermNotes5.0PercentDue19July2024Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredTermNotes5.0PercentDue19July2024Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeniorUnsecuredTermNotes5.0PercentDue19July2024Member" xml:lang="en-US" id="label_SeniorUnsecuredTermNotes5.0PercentDue19July2024Member">Senior Unsecured Term Notes 5.0 Percent Due 19, July 2024 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredTermNotes5.0PercentDue19July2024Member" xlink:to="label_SeniorUnsecuredTermNotes5.0PercentDue19July2024Member" xlink:title="label: SeniorUnsecuredTermNotes5.0PercentDue19July2024Member to label_SeniorUnsecuredTermNotes5.0PercentDue19July2024Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredTermNotes5.0PercentDue19July2024Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeniorUnsecuredTermNotes5.0PercentDue19July2024Member" xml:lang="en-US" id="label_SeniorUnsecuredTermNotes5.0PercentDue19July2024Member_2">5.0% senior unsecured term notes due July 19 2024</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredTermNotes5.0PercentDue19July2024Member" xlink:to="label_SeniorUnsecuredTermNotes5.0PercentDue19July2024Member_2" xlink:title="label: SeniorUnsecuredTermNotes5.0PercentDue19July2024Member to label_SeniorUnsecuredTermNotes5.0PercentDue19July2024Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SeniorUnsecuredTermNotes5.0PercentDue19July2024Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SeniorUnsecuredTermNotes5.0PercentDue19July2024Member" xml:lang="en-US" id="label_SeniorUnsecuredTermNotes5.0PercentDue19July2024Member_3">Represents the senior unsecured term notes bearing an interest of 5.0 percent due July 19, 2024.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorUnsecuredTermNotes5.0PercentDue19July2024Member" xlink:to="label_SeniorUnsecuredTermNotes5.0PercentDue19July2024Member_3" xlink:title="label: SeniorUnsecuredTermNotes5.0PercentDue19July2024Member to label_SeniorUnsecuredTermNotes5.0PercentDue19July2024Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NumberOfRealEstatePropertiesWithAssetImpairmentCharges" xlink:label="NumberOfRealEstatePropertiesWithAssetImpairmentCharges" xlink:title="NumberOfRealEstatePropertiesWithAssetImpairmentCharges" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfRealEstatePropertiesWithAssetImpairmentCharges" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfRealEstatePropertiesWithAssetImpairmentCharges" xml:lang="en-US" id="label_NumberOfRealEstatePropertiesWithAssetImpairmentCharges">Number of Real Estate Properties with Asset Impairment Charges</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfRealEstatePropertiesWithAssetImpairmentCharges" xlink:to="label_NumberOfRealEstatePropertiesWithAssetImpairmentCharges" xlink:title="label: NumberOfRealEstatePropertiesWithAssetImpairmentCharges to label_NumberOfRealEstatePropertiesWithAssetImpairmentCharges" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfRealEstatePropertiesWithAssetImpairmentCharges_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfRealEstatePropertiesWithAssetImpairmentCharges" xml:lang="en-US" id="label_NumberOfRealEstatePropertiesWithAssetImpairmentCharges_2">Number of real estate properties impairment charge was taken against</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfRealEstatePropertiesWithAssetImpairmentCharges" xlink:to="label_NumberOfRealEstatePropertiesWithAssetImpairmentCharges_2" xlink:title="label: NumberOfRealEstatePropertiesWithAssetImpairmentCharges to label_NumberOfRealEstatePropertiesWithAssetImpairmentCharges" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfRealEstatePropertiesWithAssetImpairmentCharges_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfRealEstatePropertiesWithAssetImpairmentCharges" xml:lang="en-US" id="label_NumberOfRealEstatePropertiesWithAssetImpairmentCharges_3">Represent the number of real estate properties in which impairment charges were taken against.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfRealEstatePropertiesWithAssetImpairmentCharges" xlink:to="label_NumberOfRealEstatePropertiesWithAssetImpairmentCharges_3" xlink:title="label: NumberOfRealEstatePropertiesWithAssetImpairmentCharges to label_NumberOfRealEstatePropertiesWithAssetImpairmentCharges" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables" xlink:label="AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables" xlink:title="AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables" />
    <link:label xlink:type="resource" xlink:label="label_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables" xml:lang="en-US" id="label_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables">Allowance for Doubtful Accounts, Premiums and Other Receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables" xlink:to="label_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables" xlink:title="label: AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables to label_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables" xml:lang="en-US" id="label_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables_2">Straight-line rent receivable, allowance for doubtful accounts (in dollars)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables" xlink:to="label_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables_2" xlink:title="label: AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables to label_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Canyon189TXSalina085KSTappahannock178VADesMoines168IAMember" xlink:label="Canyon189TXSalina085KSTappahannock178VADesMoines168IAMember" xlink:title="Canyon189TXSalina085KSTappahannock178VADesMoines168IAMember" />
    <link:label xlink:type="resource" xlink:label="label_Canyon189TXSalina085KSTappahannock178VADesMoines168IAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Canyon189TXSalina085KSTappahannock178VADesMoines168IAMember" xml:lang="en-US" id="label_Canyon189TXSalina085KSTappahannock178VADesMoines168IAMember">Canyon 189 TX, Salina 085 KS, Tappahannock 178 VA, Des Moines 168 IA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Canyon189TXSalina085KSTappahannock178VADesMoines168IAMember" xlink:to="label_Canyon189TXSalina085KSTappahannock178VADesMoines168IAMember" xlink:title="label: Canyon189TXSalina085KSTappahannock178VADesMoines168IAMember to label_Canyon189TXSalina085KSTappahannock178VADesMoines168IAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Canyon189TXSalina085KSTappahannock178VADesMoines168IAMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Canyon189TXSalina085KSTappahannock178VADesMoines168IAMember" xml:lang="en-US" id="label_Canyon189TXSalina085KSTappahannock178VADesMoines168IAMember_2">189 Canyon, TX; 085 Salina, KS; 178 Tappahannock, VA; and 168 Des Moines, IA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Canyon189TXSalina085KSTappahannock178VADesMoines168IAMember" xlink:to="label_Canyon189TXSalina085KSTappahannock178VADesMoines168IAMember_2" xlink:title="label: Canyon189TXSalina085KSTappahannock178VADesMoines168IAMember to label_Canyon189TXSalina085KSTappahannock178VADesMoines168IAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Canyon189TXSalina085KSTappahannock178VADesMoines168IAMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Canyon189TXSalina085KSTappahannock178VADesMoines168IAMember" xml:lang="en-US" id="label_Canyon189TXSalina085KSTappahannock178VADesMoines168IAMember_3">Represents the information pertaining to the following properties: 189 Canyon, TX, 085 Salina, KS, 178 Tappahannock, VA, and 168 Des Moines, IA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Canyon189TXSalina085KSTappahannock178VADesMoines168IAMember" xlink:to="label_Canyon189TXSalina085KSTappahannock178VADesMoines168IAMember_3" xlink:title="label: Canyon189TXSalina085KSTappahannock178VADesMoines168IAMember to label_Canyon189TXSalina085KSTappahannock178VADesMoines168IAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_InterestOtherIncome" xlink:label="InterestOtherIncome" xlink:title="InterestOtherIncome" />
    <link:label xlink:type="resource" xlink:label="label_InterestOtherIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestOtherIncome" xml:lang="en-US" id="label_InterestOtherIncome">Interest Other Income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestOtherIncome" xlink:to="label_InterestOtherIncome" xlink:title="label: InterestOtherIncome to label_InterestOtherIncome" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InterestOtherIncome_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InterestOtherIncome" xml:lang="en-US" id="label_InterestOtherIncome_2">Interest and other income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestOtherIncome" xlink:to="label_InterestOtherIncome_2" xlink:title="label: InterestOtherIncome to label_InterestOtherIncome" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InterestOtherIncome_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InterestOtherIncome" xml:lang="en-US" id="label_InterestOtherIncome_3">This item represents interest earned from investments in marketable securities and on cash and cash equivalents, income or expense derived from the amortization of investment related discounts or premiums, respectively, net of related investment expenses and various other miscellaneous revenue items not related to operating revenue. This item does not include realized or unrealized gains or losses on the sale or holding of investments in debt and equity securities required to be included in earnings for the period or for other than temporary losses related to investments in debt and equity securities which are included in realized losses in the period recognized, and does not include investment income from real or personal property, such as rental income.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestOtherIncome" xlink:to="label_InterestOtherIncome_3" xlink:title="label: InterestOtherIncome to label_InterestOtherIncome" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DividendsDeclared" xlink:label="DividendsDeclared" xlink:title="DividendsDeclared" />
    <link:label xlink:type="resource" xlink:label="label_DividendsDeclared" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsDeclared" xml:lang="en-US" id="label_DividendsDeclared">Dividends Declared</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsDeclared" xlink:to="label_DividendsDeclared" xlink:title="label: DividendsDeclared to label_DividendsDeclared" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DividendsDeclared_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DividendsDeclared" xml:lang="en-US" id="label_DividendsDeclared_2">Declared</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsDeclared" xlink:to="label_DividendsDeclared_2" xlink:title="label: DividendsDeclared to label_DividendsDeclared" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DividendsDeclared_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DividendsDeclared" xml:lang="en-US" id="label_DividendsDeclared_3">The aggregate amount of dividends declared, that may or may not have been paid, as of the financial reporting date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsDeclared" xlink:to="label_DividendsDeclared_3" xlink:title="label: DividendsDeclared to label_DividendsDeclared" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_BusinessAcquisitionNumberOfUnitsInExistingBusinessToBeReplaced" xlink:label="BusinessAcquisitionNumberOfUnitsInExistingBusinessToBeReplaced" xlink:title="BusinessAcquisitionNumberOfUnitsInExistingBusinessToBeReplaced" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionNumberOfUnitsInExistingBusinessToBeReplaced" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BusinessAcquisitionNumberOfUnitsInExistingBusinessToBeReplaced" xml:lang="en-US" id="label_BusinessAcquisitionNumberOfUnitsInExistingBusinessToBeReplaced">Business Acquisition, Number of Units in Existing Business to be Replaced</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionNumberOfUnitsInExistingBusinessToBeReplaced" xlink:to="label_BusinessAcquisitionNumberOfUnitsInExistingBusinessToBeReplaced" xlink:title="label: BusinessAcquisitionNumberOfUnitsInExistingBusinessToBeReplaced to label_BusinessAcquisitionNumberOfUnitsInExistingBusinessToBeReplaced" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionNumberOfUnitsInExistingBusinessToBeReplaced_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BusinessAcquisitionNumberOfUnitsInExistingBusinessToBeReplaced" xml:lang="en-US" id="label_BusinessAcquisitionNumberOfUnitsInExistingBusinessToBeReplaced_2">Represents the number of units in the existing business to be replaced.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionNumberOfUnitsInExistingBusinessToBeReplaced" xlink:to="label_BusinessAcquisitionNumberOfUnitsInExistingBusinessToBeReplaced_2" xlink:title="label: BusinessAcquisitionNumberOfUnitsInExistingBusinessToBeReplaced to label_BusinessAcquisitionNumberOfUnitsInExistingBusinessToBeReplaced" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionNumberOfUnitsInExistingBusinessToBeReplaced_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BusinessAcquisitionNumberOfUnitsInExistingBusinessToBeReplaced" xml:lang="en-US" id="label_BusinessAcquisitionNumberOfUnitsInExistingBusinessToBeReplaced_3">Number of units in existing property to be replaced</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionNumberOfUnitsInExistingBusinessToBeReplaced" xlink:to="label_BusinessAcquisitionNumberOfUnitsInExistingBusinessToBeReplaced_3" xlink:title="label: BusinessAcquisitionNumberOfUnitsInExistingBusinessToBeReplaced to label_BusinessAcquisitionNumberOfUnitsInExistingBusinessToBeReplaced" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_OwnedPropertiesNumberOfUnitsOrBeds" xlink:label="OwnedPropertiesNumberOfUnitsOrBeds" xlink:title="OwnedPropertiesNumberOfUnitsOrBeds" />
    <link:label xlink:type="resource" xlink:label="label_OwnedPropertiesNumberOfUnitsOrBeds" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OwnedPropertiesNumberOfUnitsOrBeds" xml:lang="en-US" id="label_OwnedPropertiesNumberOfUnitsOrBeds">Owned Properties Number of Units or Beds</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OwnedPropertiesNumberOfUnitsOrBeds" xlink:to="label_OwnedPropertiesNumberOfUnitsOrBeds" xlink:title="label: OwnedPropertiesNumberOfUnitsOrBeds to label_OwnedPropertiesNumberOfUnitsOrBeds" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OwnedPropertiesNumberOfUnitsOrBeds_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OwnedPropertiesNumberOfUnitsOrBeds" xml:lang="en-US" id="label_OwnedPropertiesNumberOfUnitsOrBeds_2">Number of beds/units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OwnedPropertiesNumberOfUnitsOrBeds" xlink:to="label_OwnedPropertiesNumberOfUnitsOrBeds_2" xlink:title="label: OwnedPropertiesNumberOfUnitsOrBeds to label_OwnedPropertiesNumberOfUnitsOrBeds" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OwnedPropertiesNumberOfUnitsOrBeds_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OwnedPropertiesNumberOfUnitsOrBeds" xml:lang="en-US" id="label_OwnedPropertiesNumberOfUnitsOrBeds_3">Represents the number of units or beds of owned properties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OwnedPropertiesNumberOfUnitsOrBeds" xlink:to="label_OwnedPropertiesNumberOfUnitsOrBeds_3" xlink:title="label: OwnedPropertiesNumberOfUnitsOrBeds to label_OwnedPropertiesNumberOfUnitsOrBeds" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits" xlink:label="PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits" xlink:title="PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits" />
    <link:label xlink:type="resource" xlink:label="label_PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits" xml:lang="en-US" id="label_PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits">Number of properties sub-leased</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits" xlink:to="label_PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits" xlink:title="label: PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits to label_PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits" xml:lang="en-US" id="label_PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits_2">Represents the number of units (items of property) under operating sub-lease arrangements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits" xlink:to="label_PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits_2" xlink:title="label: PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits to label_PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits" xml:lang="en-US" id="label_PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits_3">Property Subject to or Available for Operating Sub Lease Number of Units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits" xlink:to="label_PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits_3" xlink:title="label: PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits to label_PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ScheduleOfAllocationOfEquityTable" xlink:label="ScheduleOfAllocationOfEquityTable" xlink:title="ScheduleOfAllocationOfEquityTable" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfAllocationOfEquityTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ScheduleOfAllocationOfEquityTable" xml:lang="en-US" id="label_ScheduleOfAllocationOfEquityTable">Schedule detailing information related to equity allocation between controlling and non-controlling interests.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfAllocationOfEquityTable" xlink:to="label_ScheduleOfAllocationOfEquityTable" xlink:title="label: ScheduleOfAllocationOfEquityTable to label_ScheduleOfAllocationOfEquityTable" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfAllocationOfEquityTable_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfAllocationOfEquityTable" xml:lang="en-US" id="label_ScheduleOfAllocationOfEquityTable_2">Schedule of Allocation of Equity [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfAllocationOfEquityTable" xlink:to="label_ScheduleOfAllocationOfEquityTable_2" xlink:title="label: ScheduleOfAllocationOfEquityTable to label_ScheduleOfAllocationOfEquityTable" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ScheduleOfAllocationOfEquityLineItems" xlink:label="ScheduleOfAllocationOfEquityLineItems" xlink:title="ScheduleOfAllocationOfEquityLineItems" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfAllocationOfEquityLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfAllocationOfEquityLineItems" xml:lang="en-US" id="label_ScheduleOfAllocationOfEquityLineItems">Schedule of Allocation of Equity [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfAllocationOfEquityLineItems" xlink:to="label_ScheduleOfAllocationOfEquityLineItems" xlink:title="label: ScheduleOfAllocationOfEquityLineItems to label_ScheduleOfAllocationOfEquityLineItems" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfAllocationOfEquityLineItems_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScheduleOfAllocationOfEquityLineItems" xml:lang="en-US" id="label_ScheduleOfAllocationOfEquityLineItems_2">Equity allocation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfAllocationOfEquityLineItems" xlink:to="label_ScheduleOfAllocationOfEquityLineItems_2" xlink:title="label: ScheduleOfAllocationOfEquityLineItems to label_ScheduleOfAllocationOfEquityLineItems" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_OtherLoansOnRealEstateNumberOfProperties" xlink:label="OtherLoansOnRealEstateNumberOfProperties" xlink:title="OtherLoansOnRealEstateNumberOfProperties" />
    <link:label xlink:type="resource" xlink:label="label_OtherLoansOnRealEstateNumberOfProperties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherLoansOnRealEstateNumberOfProperties" xml:lang="en-US" id="label_OtherLoansOnRealEstateNumberOfProperties">Other Loans on Real Estate Number of Properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherLoansOnRealEstateNumberOfProperties" xlink:to="label_OtherLoansOnRealEstateNumberOfProperties" xlink:title="label: OtherLoansOnRealEstateNumberOfProperties to label_OtherLoansOnRealEstateNumberOfProperties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OtherLoansOnRealEstateNumberOfProperties_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherLoansOnRealEstateNumberOfProperties" xml:lang="en-US" id="label_OtherLoansOnRealEstateNumberOfProperties_2">Represents the number of real estate properties related to other loans.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherLoansOnRealEstateNumberOfProperties" xlink:to="label_OtherLoansOnRealEstateNumberOfProperties_2" xlink:title="label: OtherLoansOnRealEstateNumberOfProperties to label_OtherLoansOnRealEstateNumberOfProperties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OtherLoansOnRealEstateNumberOfProperties_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherLoansOnRealEstateNumberOfProperties" xml:lang="en-US" id="label_OtherLoansOnRealEstateNumberOfProperties_3">Number of properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherLoansOnRealEstateNumberOfProperties" xlink:to="label_OtherLoansOnRealEstateNumberOfProperties_3" xlink:title="label: OtherLoansOnRealEstateNumberOfProperties to label_OtherLoansOnRealEstateNumberOfProperties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OtherLoansOnRealEstateNumberOfProperties_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_OtherLoansOnRealEstateNumberOfProperties" xml:lang="en-US" id="label_OtherLoansOnRealEstateNumberOfProperties_4">Properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherLoansOnRealEstateNumberOfProperties" xlink:to="label_OtherLoansOnRealEstateNumberOfProperties_4" xlink:title="label: OtherLoansOnRealEstateNumberOfProperties to label_OtherLoansOnRealEstateNumberOfProperties" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet" xlink:label="RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet" xlink:title="RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet" xml:lang="en-US" id="label_RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet">Real Estate Investment Property and Mortgage Loans on Real Estate Commercial and Consumer, Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet" xlink:to="label_RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet" xlink:title="label: RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet to label_RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet" xml:lang="en-US" id="label_RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet_2">Real estate investments, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet" xlink:to="label_RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet_2" xlink:title="label: RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet to label_RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet" xml:lang="en-US" id="label_RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet_3">The net book value of real estate property held for investment purposes and the amount of loans that are secured by real estate mortgages, offset by the reserve to cover probable credit losses on the loan portfolio.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet" xlink:to="label_RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet_3" xlink:title="label: RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet to label_RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ProvisionForDoubtfulAccountsContinuingOperations" xlink:label="ProvisionForDoubtfulAccountsContinuingOperations" xlink:title="ProvisionForDoubtfulAccountsContinuingOperations" />
    <link:label xlink:type="resource" xlink:label="label_ProvisionForDoubtfulAccountsContinuingOperations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProvisionForDoubtfulAccountsContinuingOperations" xml:lang="en-US" id="label_ProvisionForDoubtfulAccountsContinuingOperations">(Recovery) provision for doubtful accounts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProvisionForDoubtfulAccountsContinuingOperations" xlink:to="label_ProvisionForDoubtfulAccountsContinuingOperations" xlink:title="label: ProvisionForDoubtfulAccountsContinuingOperations to label_ProvisionForDoubtfulAccountsContinuingOperations" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ProvisionForDoubtfulAccountsContinuingOperations_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProvisionForDoubtfulAccountsContinuingOperations" xml:lang="en-US" id="label_ProvisionForDoubtfulAccountsContinuingOperations_2">Provision for Doubtful Accounts Continuing Operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProvisionForDoubtfulAccountsContinuingOperations" xlink:to="label_ProvisionForDoubtfulAccountsContinuingOperations_2" xlink:title="label: ProvisionForDoubtfulAccountsContinuingOperations to label_ProvisionForDoubtfulAccountsContinuingOperations" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ProvisionForDoubtfulAccountsContinuingOperations_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ProvisionForDoubtfulAccountsContinuingOperations" xml:lang="en-US" id="label_ProvisionForDoubtfulAccountsContinuingOperations_3">Amount of the current period expense, related to continuing operations, charged against operations, the offset which is generally to the allowance for doubtful accounts for the purpose of reducing receivables, including notes receivable, to an amount that approximates their net realizable value (the amount expected to be collected).</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProvisionForDoubtfulAccountsContinuingOperations" xlink:to="label_ProvisionForDoubtfulAccountsContinuingOperations_3" xlink:title="label: ProvisionForDoubtfulAccountsContinuingOperations to label_ProvisionForDoubtfulAccountsContinuingOperations" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentExpiringApril302013Member" xlink:label="CapitalImprovementCommitmentExpiringApril302013Member" xlink:title="CapitalImprovementCommitmentExpiringApril302013Member" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringApril302013Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentExpiringApril302013Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringApril302013Member">Capital Improvement Commitment Expiring April 30, 2013 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringApril302013Member" xlink:to="label_CapitalImprovementCommitmentExpiringApril302013Member" xlink:title="label: CapitalImprovementCommitmentExpiringApril302013Member to label_CapitalImprovementCommitmentExpiringApril302013Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringApril302013Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentExpiringApril302013Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringApril302013Member_2">Capital improvement commitment expiring 4/30/2013</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringApril302013Member" xlink:to="label_CapitalImprovementCommitmentExpiringApril302013Member_2" xlink:title="label: CapitalImprovementCommitmentExpiringApril302013Member to label_CapitalImprovementCommitmentExpiringApril302013Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringApril302013Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentExpiringApril302013Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringApril302013Member_3">Represents information pertaining to the capital improvement commitment expiring on April 30, 2013.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringApril302013Member" xlink:to="label_CapitalImprovementCommitmentExpiringApril302013Member_3" xlink:title="label: CapitalImprovementCommitmentExpiringApril302013Member to label_CapitalImprovementCommitmentExpiringApril302013Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentExpiringJuly012013Member" xlink:label="CapitalImprovementCommitmentExpiringJuly012013Member" xlink:title="CapitalImprovementCommitmentExpiringJuly012013Member" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringJuly012013Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentExpiringJuly012013Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringJuly012013Member">Capital Improvement Commitment Expiring July 01, 2013 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringJuly012013Member" xlink:to="label_CapitalImprovementCommitmentExpiringJuly012013Member" xlink:title="label: CapitalImprovementCommitmentExpiringJuly012013Member to label_CapitalImprovementCommitmentExpiringJuly012013Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringJuly012013Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentExpiringJuly012013Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringJuly012013Member_2">Capital improvement commitment expiring 7/1/2013</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringJuly012013Member" xlink:to="label_CapitalImprovementCommitmentExpiringJuly012013Member_2" xlink:title="label: CapitalImprovementCommitmentExpiringJuly012013Member to label_CapitalImprovementCommitmentExpiringJuly012013Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringJuly012013Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentExpiringJuly012013Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringJuly012013Member_3">Represents information pertaining to the capital improvement commitment expiring on July 1, 2013.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringJuly012013Member" xlink:to="label_CapitalImprovementCommitmentExpiringJuly012013Member_3" xlink:title="label: CapitalImprovementCommitmentExpiringJuly012013Member to label_CapitalImprovementCommitmentExpiringJuly012013Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitment15Member" xlink:label="CapitalImprovementCommitment15Member" xlink:title="CapitalImprovementCommitment15Member" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitment15Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitment15Member" xml:lang="en-US" id="label_CapitalImprovementCommitment15Member">Capital Improvement Commitment 15 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitment15Member" xlink:to="label_CapitalImprovementCommitment15Member" xlink:title="label: CapitalImprovementCommitment15Member to label_CapitalImprovementCommitment15Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitment15Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitment15Member" xml:lang="en-US" id="label_CapitalImprovementCommitment15Member_2">Represents the information pertaining to the fifteenth capital improvement commitment with regards to the ascending order of the expiration dates.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitment15Member" xlink:to="label_CapitalImprovementCommitment15Member_2" xlink:title="label: CapitalImprovementCommitment15Member to label_CapitalImprovementCommitment15Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitment15Member_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitment15Member" xml:lang="en-US" id="label_CapitalImprovementCommitment15Member_3">Capital improvement commitment expiring 10/11/2013</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitment15Member" xlink:to="label_CapitalImprovementCommitment15Member_3" xlink:title="label: CapitalImprovementCommitment15Member to label_CapitalImprovementCommitment15Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_AssistedLivingAndMemoryCarePropertyWith75UnitsMember" xlink:label="AssistedLivingAndMemoryCarePropertyWith75UnitsMember" xlink:title="AssistedLivingAndMemoryCarePropertyWith75UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingAndMemoryCarePropertyWith75UnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssistedLivingAndMemoryCarePropertyWith75UnitsMember" xml:lang="en-US" id="label_AssistedLivingAndMemoryCarePropertyWith75UnitsMember">Assisted Living and Memory Care Property with 75 Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingAndMemoryCarePropertyWith75UnitsMember" xlink:to="label_AssistedLivingAndMemoryCarePropertyWith75UnitsMember" xlink:title="label: AssistedLivingAndMemoryCarePropertyWith75UnitsMember to label_AssistedLivingAndMemoryCarePropertyWith75UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingAndMemoryCarePropertyWith75UnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssistedLivingAndMemoryCarePropertyWith75UnitsMember" xml:lang="en-US" id="label_AssistedLivingAndMemoryCarePropertyWith75UnitsMember_2">75-unit assisted living and memory care property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingAndMemoryCarePropertyWith75UnitsMember" xlink:to="label_AssistedLivingAndMemoryCarePropertyWith75UnitsMember_2" xlink:title="label: AssistedLivingAndMemoryCarePropertyWith75UnitsMember to label_AssistedLivingAndMemoryCarePropertyWith75UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingAndMemoryCarePropertyWith75UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AssistedLivingAndMemoryCarePropertyWith75UnitsMember" xml:lang="en-US" id="label_AssistedLivingAndMemoryCarePropertyWith75UnitsMember_3">Represents the information pertaining to assisted living memory care property comprising of 75 units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssistedLivingAndMemoryCarePropertyWith75UnitsMember" xlink:to="label_AssistedLivingAndMemoryCarePropertyWith75UnitsMember_3" xlink:title="label: AssistedLivingAndMemoryCarePropertyWith75UnitsMember to label_AssistedLivingAndMemoryCarePropertyWith75UnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitment16Member" xlink:label="CapitalImprovementCommitment16Member" xlink:title="CapitalImprovementCommitment16Member" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitment16Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitment16Member" xml:lang="en-US" id="label_CapitalImprovementCommitment16Member">Capital Improvement Commitment 16 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitment16Member" xlink:to="label_CapitalImprovementCommitment16Member" xlink:title="label: CapitalImprovementCommitment16Member to label_CapitalImprovementCommitment16Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitment16Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitment16Member" xml:lang="en-US" id="label_CapitalImprovementCommitment16Member_2">Capital improvement commitment expiring 10/23/2014</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitment16Member" xlink:to="label_CapitalImprovementCommitment16Member_2" xlink:title="label: CapitalImprovementCommitment16Member to label_CapitalImprovementCommitment16Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitment16Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitment16Member" xml:lang="en-US" id="label_CapitalImprovementCommitment16Member_3">Represents the information pertaining to the sixteenth capital improvement commitment with regards to the ascending order of the expiration dates.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitment16Member" xlink:to="label_CapitalImprovementCommitment16Member_3" xlink:title="label: CapitalImprovementCommitment16Member to label_CapitalImprovementCommitment16Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentExpiringOctober232014Member" xlink:label="CapitalImprovementCommitmentExpiringOctober232014Member" xlink:title="CapitalImprovementCommitmentExpiringOctober232014Member" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringOctober232014Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentExpiringOctober232014Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringOctober232014Member">Represents information pertaining to the capital improvement commitment expiring on October 23, 2014.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringOctober232014Member" xlink:to="label_CapitalImprovementCommitmentExpiringOctober232014Member" xlink:title="label: CapitalImprovementCommitmentExpiringOctober232014Member to label_CapitalImprovementCommitmentExpiringOctober232014Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringOctober232014Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentExpiringOctober232014Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringOctober232014Member_2">Capital Improvement Commitment Expiring October 23, 2014 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringOctober232014Member" xlink:to="label_CapitalImprovementCommitmentExpiringOctober232014Member_2" xlink:title="label: CapitalImprovementCommitmentExpiringOctober232014Member to label_CapitalImprovementCommitmentExpiringOctober232014Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringOctober232014Member_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentExpiringOctober232014Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringOctober232014Member_3">Capital improvement commitment expiring 10/23/2014</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringOctober232014Member" xlink:to="label_CapitalImprovementCommitmentExpiringOctober232014Member_3" xlink:title="label: CapitalImprovementCommitmentExpiringOctober232014Member to label_CapitalImprovementCommitmentExpiringOctober232014Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentExpiringMarch312013Member" xlink:label="CapitalImprovementCommitmentExpiringMarch312013Member" xlink:title="CapitalImprovementCommitmentExpiringMarch312013Member" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringMarch312013Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentExpiringMarch312013Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringMarch312013Member">Capital Improvement Commitment Expiring March 31, 2013 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringMarch312013Member" xlink:to="label_CapitalImprovementCommitmentExpiringMarch312013Member" xlink:title="label: CapitalImprovementCommitmentExpiringMarch312013Member to label_CapitalImprovementCommitmentExpiringMarch312013Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringMarch312013Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentExpiringMarch312013Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringMarch312013Member_2">Represents information pertaining to the capital improvement commitment expiring on March 31, 2013.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringMarch312013Member" xlink:to="label_CapitalImprovementCommitmentExpiringMarch312013Member_2" xlink:title="label: CapitalImprovementCommitmentExpiringMarch312013Member to label_CapitalImprovementCommitmentExpiringMarch312013Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringMarch312013Member_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentExpiringMarch312013Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringMarch312013Member_3">Capital improvement commitment expiring 3/31/13</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringMarch312013Member" xlink:to="label_CapitalImprovementCommitmentExpiringMarch312013Member_3" xlink:title="label: CapitalImprovementCommitmentExpiringMarch312013Member to label_CapitalImprovementCommitmentExpiringMarch312013Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentExpiringDecember012013Member" xlink:label="CapitalImprovementCommitmentExpiringDecember012013Member" xlink:title="CapitalImprovementCommitmentExpiringDecember012013Member" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringDecember012013Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentExpiringDecember012013Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringDecember012013Member">Capital Improvement Commitment Expiring December 01, 2013 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringDecember012013Member" xlink:to="label_CapitalImprovementCommitmentExpiringDecember012013Member" xlink:title="label: CapitalImprovementCommitmentExpiringDecember012013Member to label_CapitalImprovementCommitmentExpiringDecember012013Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringDecember012013Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentExpiringDecember012013Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringDecember012013Member_2">Represents information pertaining to the capital improvement commitment expiring on December 1, 2013.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringDecember012013Member" xlink:to="label_CapitalImprovementCommitmentExpiringDecember012013Member_2" xlink:title="label: CapitalImprovementCommitmentExpiringDecember012013Member to label_CapitalImprovementCommitmentExpiringDecember012013Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringDecember012013Member_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentExpiringDecember012013Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringDecember012013Member_3">Capital improvement commitment expiring 12/1/13</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringDecember012013Member" xlink:to="label_CapitalImprovementCommitmentExpiringDecember012013Member_3" xlink:title="label: CapitalImprovementCommitmentExpiringDecember012013Member to label_CapitalImprovementCommitmentExpiringDecember012013Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentExpiringAugust312015Member" xlink:label="CapitalImprovementCommitmentExpiringAugust312015Member" xlink:title="CapitalImprovementCommitmentExpiringAugust312015Member" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringAugust312015Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentExpiringAugust312015Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringAugust312015Member">Capital Improvement Commitment Expiring August 31, 2015 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringAugust312015Member" xlink:to="label_CapitalImprovementCommitmentExpiringAugust312015Member" xlink:title="label: CapitalImprovementCommitmentExpiringAugust312015Member to label_CapitalImprovementCommitmentExpiringAugust312015Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringAugust312015Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentExpiringAugust312015Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringAugust312015Member_2">Capital improvement commitment expiring 8/31/2015</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringAugust312015Member" xlink:to="label_CapitalImprovementCommitmentExpiringAugust312015Member_2" xlink:title="label: CapitalImprovementCommitmentExpiringAugust312015Member to label_CapitalImprovementCommitmentExpiringAugust312015Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringAugust312015Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentExpiringAugust312015Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringAugust312015Member_3">Represents information pertaining to the capital improvement commitment expiring on August 31, 2015.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringAugust312015Member" xlink:to="label_CapitalImprovementCommitmentExpiringAugust312015Member_3" xlink:title="label: CapitalImprovementCommitmentExpiringAugust312015Member to label_CapitalImprovementCommitmentExpiringAugust312015Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LoanCommitmentExpiringNovember142014Member" xlink:label="LoanCommitmentExpiringNovember142014Member" xlink:title="LoanCommitmentExpiringNovember142014Member" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringNovember142014Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LoanCommitmentExpiringNovember142014Member" xml:lang="en-US" id="label_LoanCommitmentExpiringNovember142014Member">Loan Commitment Expiring November 14, 2014 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringNovember142014Member" xlink:to="label_LoanCommitmentExpiringNovember142014Member" xlink:title="label: LoanCommitmentExpiringNovember142014Member to label_LoanCommitmentExpiringNovember142014Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringNovember142014Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LoanCommitmentExpiringNovember142014Member" xml:lang="en-US" id="label_LoanCommitmentExpiringNovember142014Member_2">Loan commitment expiring 11/14/2014</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringNovember142014Member" xlink:to="label_LoanCommitmentExpiringNovember142014Member_2" xlink:title="label: LoanCommitmentExpiringNovember142014Member to label_LoanCommitmentExpiringNovember142014Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringNovember142014Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LoanCommitmentExpiringNovember142014Member" xml:lang="en-US" id="label_LoanCommitmentExpiringNovember142014Member_3">Represents information pertaining to the loan commitment expiring on November 14, 2014.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringNovember142014Member" xlink:to="label_LoanCommitmentExpiringNovember142014Member_3" xlink:title="label: LoanCommitmentExpiringNovember142014Member to label_LoanCommitmentExpiringNovember142014Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringNovember142014Member_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_LoanCommitmentExpiringNovember142014Member" xml:lang="en-US" id="label_LoanCommitmentExpiringNovember142014Member_4">Loan commitment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringNovember142014Member" xlink:to="label_LoanCommitmentExpiringNovember142014Member_4" xlink:title="label: LoanCommitmentExpiringNovember142014Member to label_LoanCommitmentExpiringNovember142014Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LoanCommitmentExpiringOctober222017Member" xlink:label="LoanCommitmentExpiringOctober222017Member" xlink:title="LoanCommitmentExpiringOctober222017Member" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringOctober222017Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LoanCommitmentExpiringOctober222017Member" xml:lang="en-US" id="label_LoanCommitmentExpiringOctober222017Member">Loan commitment expiring 10/22/2017</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringOctober222017Member" xlink:to="label_LoanCommitmentExpiringOctober222017Member" xlink:title="label: LoanCommitmentExpiringOctober222017Member to label_LoanCommitmentExpiringOctober222017Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringOctober222017Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LoanCommitmentExpiringOctober222017Member" xml:lang="en-US" id="label_LoanCommitmentExpiringOctober222017Member_2">Loan Commitment Expiring October 22, 2017 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringOctober222017Member" xlink:to="label_LoanCommitmentExpiringOctober222017Member_2" xlink:title="label: LoanCommitmentExpiringOctober222017Member to label_LoanCommitmentExpiringOctober222017Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringOctober222017Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LoanCommitmentExpiringOctober222017Member" xml:lang="en-US" id="label_LoanCommitmentExpiringOctober222017Member_3">Represents information pertaining to the loan commitment expiring on October 22, 2017.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringOctober222017Member" xlink:to="label_LoanCommitmentExpiringOctober222017Member_3" xlink:title="label: LoanCommitmentExpiringOctober222017Member to label_LoanCommitmentExpiringOctober222017Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LoanCommitmentExpiringMay142014Member" xlink:label="LoanCommitmentExpiringMay142014Member" xlink:title="LoanCommitmentExpiringMay142014Member" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringMay142014Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LoanCommitmentExpiringMay142014Member" xml:lang="en-US" id="label_LoanCommitmentExpiringMay142014Member">Loan Commitment Expiring May 14, 2014 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringMay142014Member" xlink:to="label_LoanCommitmentExpiringMay142014Member" xlink:title="label: LoanCommitmentExpiringMay142014Member to label_LoanCommitmentExpiringMay142014Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringMay142014Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LoanCommitmentExpiringMay142014Member" xml:lang="en-US" id="label_LoanCommitmentExpiringMay142014Member_2">Represents information pertaining to the loan commitment expiring on May 14, 2014.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringMay142014Member" xlink:to="label_LoanCommitmentExpiringMay142014Member_2" xlink:title="label: LoanCommitmentExpiringMay142014Member to label_LoanCommitmentExpiringMay142014Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringMay142014Member_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LoanCommitmentExpiringMay142014Member" xml:lang="en-US" id="label_LoanCommitmentExpiringMay142014Member_3">Loan commitment expiring 5/14/2014</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringMay142014Member" xlink:to="label_LoanCommitmentExpiringMay142014Member_3" xlink:title="label: LoanCommitmentExpiringMay142014Member to label_LoanCommitmentExpiringMay142014Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LoanCommitmentExpiringMarch312012Member" xlink:label="LoanCommitmentExpiringMarch312012Member" xlink:title="LoanCommitmentExpiringMarch312012Member" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringMarch312012Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LoanCommitmentExpiringMarch312012Member" xml:lang="en-US" id="label_LoanCommitmentExpiringMarch312012Member">Loan Commitment Expiring March 31, 2012 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringMarch312012Member" xlink:to="label_LoanCommitmentExpiringMarch312012Member" xlink:title="label: LoanCommitmentExpiringMarch312012Member to label_LoanCommitmentExpiringMarch312012Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringMarch312012Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LoanCommitmentExpiringMarch312012Member" xml:lang="en-US" id="label_LoanCommitmentExpiringMarch312012Member_2">Represents information pertaining to the loan commitment expiring on March 31, 2012.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringMarch312012Member" xlink:to="label_LoanCommitmentExpiringMarch312012Member_2" xlink:title="label: LoanCommitmentExpiringMarch312012Member to label_LoanCommitmentExpiringMarch312012Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringMarch312012Member_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LoanCommitmentExpiringMarch312012Member" xml:lang="en-US" id="label_LoanCommitmentExpiringMarch312012Member_3">Loan commitment expiring 3/31/2012</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringMarch312012Member" xlink:to="label_LoanCommitmentExpiringMarch312012Member_3" xlink:title="label: LoanCommitmentExpiringMarch312012Member to label_LoanCommitmentExpiringMarch312012Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_StockIssuedDuringPeriodMarketValueStockOptionsExercised" xlink:label="StockIssuedDuringPeriodMarketValueStockOptionsExercised" xlink:title="StockIssuedDuringPeriodMarketValueStockOptionsExercised" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodMarketValueStockOptionsExercised" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockIssuedDuringPeriodMarketValueStockOptionsExercised" xml:lang="en-US" id="label_StockIssuedDuringPeriodMarketValueStockOptionsExercised">Stock Issued During Period, Market Value Stock Options Exercised</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodMarketValueStockOptionsExercised" xlink:to="label_StockIssuedDuringPeriodMarketValueStockOptionsExercised" xlink:title="label: StockIssuedDuringPeriodMarketValueStockOptionsExercised to label_StockIssuedDuringPeriodMarketValueStockOptionsExercised" use="optional" />
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    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_EffectOfOnePercentagePointChangeInInterestRateAxis" xlink:label="EffectOfOnePercentagePointChangeInInterestRateAxis" xlink:title="EffectOfOnePercentagePointChangeInInterestRateAxis" />
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    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ScheduleOfSubsequentCapitalImprovementCommitmentsTableTextBlock" xlink:label="ScheduleOfSubsequentCapitalImprovementCommitmentsTableTextBlock" xlink:title="ScheduleOfSubsequentCapitalImprovementCommitmentsTableTextBlock" />
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    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ScheduleOfSubsequentLoanCommitmentsTableTextBlock" xlink:label="ScheduleOfSubsequentLoanCommitmentsTableTextBlock" xlink:title="ScheduleOfSubsequentLoanCommitmentsTableTextBlock" />
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    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_BankruptcyOfAffiliateMember" xlink:label="BankruptcyOfAffiliateMember" xlink:title="BankruptcyOfAffiliateMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankruptcyOfAffiliateMember" xlink:to="label_BankruptcyOfAffiliateMember" xlink:title="label: BankruptcyOfAffiliateMember to label_BankruptcyOfAffiliateMember" use="optional" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankruptcyOfAffiliateMember" xlink:to="label_BankruptcyOfAffiliateMember_2" xlink:title="label: BankruptcyOfAffiliateMember to label_BankruptcyOfAffiliateMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BankruptcyOfAffiliateMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BankruptcyOfAffiliateMember" xml:lang="en-US" id="label_BankruptcyOfAffiliateMember_3">Represents an affiliate's inability to meet its debt obligations and petitions a federal district court for either reorganization of its debts or liquidation of its assets. The assets of the entity are taken over by a receiver or a trustee in bankruptcy for the benefit of its creditors.</link:label>
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    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsIncludingAccruedInterest" xlink:label="MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsIncludingAccruedInterest" xlink:title="MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsIncludingAccruedInterest" />
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    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsIncludingAccruedInterest_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsIncludingAccruedInterest" xml:lang="en-US" id="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsIncludingAccruedInterest_2">Amount received related to payoff of loan, excluding accrued interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsIncludingAccruedInterest" xlink:to="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsIncludingAccruedInterest_2" xlink:title="label: MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsIncludingAccruedInterest to label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsIncludingAccruedInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsIncludingAccruedInterest_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsIncludingAccruedInterest" xml:lang="en-US" id="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsIncludingAccruedInterest_3">Represents the amount of prepayments or payoffs on mortgage loans on real estate during the reporting period, excluding accrued interest.</link:label>
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    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateLoanExpectedPrepaymentsOrPayOffsIncludingAccruedInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateLoanExpectedPrepaymentsOrPayOffsIncludingAccruedInterest" xml:lang="en-US" id="label_MortgageLoansOnRealEstateLoanExpectedPrepaymentsOrPayOffsIncludingAccruedInterest">Expected amount to be received related to payoff of loan, excluding accrued interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateLoanExpectedPrepaymentsOrPayOffsIncludingAccruedInterest" xlink:to="label_MortgageLoansOnRealEstateLoanExpectedPrepaymentsOrPayOffsIncludingAccruedInterest" xlink:title="label: MortgageLoansOnRealEstateLoanExpectedPrepaymentsOrPayOffsIncludingAccruedInterest to label_MortgageLoansOnRealEstateLoanExpectedPrepaymentsOrPayOffsIncludingAccruedInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateLoanExpectedPrepaymentsOrPayOffsIncludingAccruedInterest_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateLoanExpectedPrepaymentsOrPayOffsIncludingAccruedInterest" xml:lang="en-US" id="label_MortgageLoansOnRealEstateLoanExpectedPrepaymentsOrPayOffsIncludingAccruedInterest_2">Represents the expected amount of prepayments or payoffs on mortgage loans on real estate to be received during the reporting period, excluding accrued interest.</link:label>
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    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateLoanExpectedPrepaymentsOrPayOffsIncludingAccruedInterest_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateLoanExpectedPrepaymentsOrPayOffsIncludingAccruedInterest" xml:lang="en-US" id="label_MortgageLoansOnRealEstateLoanExpectedPrepaymentsOrPayOffsIncludingAccruedInterest_3">Mortgage Loans on Real Estate Loan Expected Prepayments or Pay Offs Including Accrued Interest</link:label>
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    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsExcludingAccruedInterest" xlink:label="MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsExcludingAccruedInterest" xlink:title="MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsExcludingAccruedInterest" />
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    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsExcludingAccruedInterest_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsExcludingAccruedInterest" xml:lang="en-US" id="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsExcludingAccruedInterest_2">Amount received related to payoff of loan, excluding accrued interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsExcludingAccruedInterest" xlink:to="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsExcludingAccruedInterest_2" xlink:title="label: MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsExcludingAccruedInterest to label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsExcludingAccruedInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsExcludingAccruedInterest_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsExcludingAccruedInterest" xml:lang="en-US" id="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsExcludingAccruedInterest_3">Represents the amount of prepayments or payoffs on mortgage loans on real estate during the reporting period, excluding accrued interest.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsExcludingAccruedInterest" xlink:to="label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsExcludingAccruedInterest_3" xlink:title="label: MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsExcludingAccruedInterest to label_MortgageLoansOnRealEstateLoanPrepaymentsOrPayOffsExcludingAccruedInterest" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MemoryCarePropertyMember" xlink:label="MemoryCarePropertyMember" xlink:title="MemoryCarePropertyMember" />
    <link:label xlink:type="resource" xlink:label="label_MemoryCarePropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MemoryCarePropertyMember" xml:lang="en-US" id="label_MemoryCarePropertyMember">Memory care property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MemoryCarePropertyMember" xlink:to="label_MemoryCarePropertyMember" xlink:title="label: MemoryCarePropertyMember to label_MemoryCarePropertyMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MemoryCarePropertyMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MemoryCarePropertyMember" xml:lang="en-US" id="label_MemoryCarePropertyMember_2">Represents information pertaining to the memory care property.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MemoryCarePropertyMember" xlink:to="label_MemoryCarePropertyMember_2" xlink:title="label: MemoryCarePropertyMember to label_MemoryCarePropertyMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MemoryCarePropertyMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MemoryCarePropertyMember" xml:lang="en-US" id="label_MemoryCarePropertyMember_3">Memory Care Property [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MemoryCarePropertyMember" xlink:to="label_MemoryCarePropertyMember_3" xlink:title="label: MemoryCarePropertyMember to label_MemoryCarePropertyMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded" xlink:label="LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded" xlink:title="LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded" xml:lang="en-US" id="label_LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded">Number of properties agreed to be funded for construction</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded" xlink:to="label_LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded" xlink:title="label: LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded to label_LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded" xml:lang="en-US" id="label_LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded_2">Represents the number of units agreed to be funded for construction under the lease agreement and development commitment.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded" xlink:to="label_LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded_2" xlink:title="label: LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded to label_LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded" xml:lang="en-US" id="label_LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded_3">Lease Agreement and Development Commitment Number of Real Estate Properties to be Funded</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded" xlink:to="label_LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded_3" xlink:title="label: LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded to label_LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LeaseAgreementAndDevelopmentCommitmentCompoundedInterestRate" xlink:label="LeaseAgreementAndDevelopmentCommitmentCompoundedInterestRate" xlink:title="LeaseAgreementAndDevelopmentCommitmentCompoundedInterestRate" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementAndDevelopmentCommitmentCompoundedInterestRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LeaseAgreementAndDevelopmentCommitmentCompoundedInterestRate" xml:lang="en-US" id="label_LeaseAgreementAndDevelopmentCommitmentCompoundedInterestRate">Represents the compounded rate of interest on each advance under the lease agreement and development commitment.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementAndDevelopmentCommitmentCompoundedInterestRate" xlink:to="label_LeaseAgreementAndDevelopmentCommitmentCompoundedInterestRate" xlink:title="label: LeaseAgreementAndDevelopmentCommitmentCompoundedInterestRate to label_LeaseAgreementAndDevelopmentCommitmentCompoundedInterestRate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementAndDevelopmentCommitmentCompoundedInterestRate_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeaseAgreementAndDevelopmentCommitmentCompoundedInterestRate" xml:lang="en-US" id="label_LeaseAgreementAndDevelopmentCommitmentCompoundedInterestRate_2">Lease Agreement and Development Commitment Compounded Interest Rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementAndDevelopmentCommitmentCompoundedInterestRate" xlink:to="label_LeaseAgreementAndDevelopmentCommitmentCompoundedInterestRate_2" xlink:title="label: LeaseAgreementAndDevelopmentCommitmentCompoundedInterestRate to label_LeaseAgreementAndDevelopmentCommitmentCompoundedInterestRate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAgreementAndDevelopmentCommitmentCompoundedInterestRate_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeaseAgreementAndDevelopmentCommitmentCompoundedInterestRate" xml:lang="en-US" id="label_LeaseAgreementAndDevelopmentCommitmentCompoundedInterestRate_3">Compounded interest rate (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAgreementAndDevelopmentCommitmentCompoundedInterestRate" xlink:to="label_LeaseAgreementAndDevelopmentCommitmentCompoundedInterestRate_3" xlink:title="label: LeaseAgreementAndDevelopmentCommitmentCompoundedInterestRate to label_LeaseAgreementAndDevelopmentCommitmentCompoundedInterestRate" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing" xlink:label="DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing" xlink:title="DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing" xml:lang="en-US" id="label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing">Represents the decrease in drawn pricing percentage points added to the reference rate to compute the variable rate on the debt instrument.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing" xlink:to="label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing" xlink:title="label: DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing to label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing" xml:lang="en-US" id="label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing_2">Debt Instrument Basis Spread on Variable Rate Decrease in Drawn Pricing</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing" xlink:to="label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing_2" xlink:title="label: DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing to label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing" xml:lang="en-US" id="label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing_3">Decrease in drawn pricing, basis point (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing" xlink:to="label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing_3" xlink:title="label: DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing to label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing" xlink:label="DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing" xlink:title="DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing" xml:lang="en-US" id="label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing">Debt Instrument Basis Spread on Variable Rate Decrease in Undrawn Pricing</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing" xlink:to="label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing" xlink:title="label: DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing to label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing" xml:lang="en-US" id="label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing_2">Decrease in undrawn pricing, basis point (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing" xlink:to="label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing_2" xlink:title="label: DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing to label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing" xml:lang="en-US" id="label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing_3">Represents the decrease in undrawn pricing percentage points added to the reference rate to compute the variable rate on the debt instrument.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing" xlink:to="label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing_3" xlink:title="label: DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing to label_DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DebtInstrumentMaturityDateLengthOfExtensionPeriod" xlink:label="DebtInstrumentMaturityDateLengthOfExtensionPeriod" xlink:title="DebtInstrumentMaturityDateLengthOfExtensionPeriod" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentMaturityDateLengthOfExtensionPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentMaturityDateLengthOfExtensionPeriod" xml:lang="en-US" id="label_DebtInstrumentMaturityDateLengthOfExtensionPeriod">Debt Instrument Maturity Date Length of Extension Period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentMaturityDateLengthOfExtensionPeriod" xlink:to="label_DebtInstrumentMaturityDateLengthOfExtensionPeriod" xlink:title="label: DebtInstrumentMaturityDateLengthOfExtensionPeriod to label_DebtInstrumentMaturityDateLengthOfExtensionPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentMaturityDateLengthOfExtensionPeriod_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentMaturityDateLengthOfExtensionPeriod" xml:lang="en-US" id="label_DebtInstrumentMaturityDateLengthOfExtensionPeriod_2">Extension of maturity date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentMaturityDateLengthOfExtensionPeriod" xlink:to="label_DebtInstrumentMaturityDateLengthOfExtensionPeriod_2" xlink:title="label: DebtInstrumentMaturityDateLengthOfExtensionPeriod to label_DebtInstrumentMaturityDateLengthOfExtensionPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentMaturityDateLengthOfExtensionPeriod_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentMaturityDateLengthOfExtensionPeriod" xml:lang="en-US" id="label_DebtInstrumentMaturityDateLengthOfExtensionPeriod_3">Length of the extension period for the date when the debt instrument is scheduled to be fully repaid, which may be presented in a variety of ways (years, months, etc.).</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentMaturityDateLengthOfExtensionPeriod" xlink:to="label_DebtInstrumentMaturityDateLengthOfExtensionPeriod_3" xlink:title="label: DebtInstrumentMaturityDateLengthOfExtensionPeriod to label_DebtInstrumentMaturityDateLengthOfExtensionPeriod" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ExercisePriceDollar31.87Member" xlink:label="ExercisePriceDollar31.87Member" xlink:title="ExercisePriceDollar31.87Member" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar31.87Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExercisePriceDollar31.87Member" xml:lang="en-US" id="label_ExercisePriceDollar31.87Member">$ 31.87 per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar31.87Member" xlink:to="label_ExercisePriceDollar31.87Member" xlink:title="label: ExercisePriceDollar31.87Member to label_ExercisePriceDollar31.87Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar31.87Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExercisePriceDollar31.87Member" xml:lang="en-US" id="label_ExercisePriceDollar31.87Member_2">Represents information pertaining to the stock awards granted at 31.87 dollar per share.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar31.87Member" xlink:to="label_ExercisePriceDollar31.87Member_2" xlink:title="label: ExercisePriceDollar31.87Member to label_ExercisePriceDollar31.87Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar31.87Member_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExercisePriceDollar31.87Member" xml:lang="en-US" id="label_ExercisePriceDollar31.87Member_3">Exercise Price Dollar 31.87 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar31.87Member" xlink:to="label_ExercisePriceDollar31.87Member_3" xlink:title="label: ExercisePriceDollar31.87Member to label_ExercisePriceDollar31.87Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ExercisePriceDollar36.26Member" xlink:label="ExercisePriceDollar36.26Member" xlink:title="ExercisePriceDollar36.26Member" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar36.26Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExercisePriceDollar36.26Member" xml:lang="en-US" id="label_ExercisePriceDollar36.26Member">Exercise Price Dollar 36.26 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar36.26Member" xlink:to="label_ExercisePriceDollar36.26Member" xlink:title="label: ExercisePriceDollar36.26Member to label_ExercisePriceDollar36.26Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar36.26Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExercisePriceDollar36.26Member" xml:lang="en-US" id="label_ExercisePriceDollar36.26Member_2">$ 36.26 per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar36.26Member" xlink:to="label_ExercisePriceDollar36.26Member_2" xlink:title="label: ExercisePriceDollar36.26Member to label_ExercisePriceDollar36.26Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollar36.26Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExercisePriceDollar36.26Member" xml:lang="en-US" id="label_ExercisePriceDollar36.26Member_3">Represents information pertaining to the stock awards granted at 36.26 dollar per share.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollar36.26Member" xlink:to="label_ExercisePriceDollar36.26Member_3" xlink:title="label: ExercisePriceDollar36.26Member to label_ExercisePriceDollar36.26Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_UrbanDevelopmentProjectUnitsMember" xlink:label="UrbanDevelopmentProjectUnitsMember" xlink:title="UrbanDevelopmentProjectUnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_UrbanDevelopmentProjectUnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UrbanDevelopmentProjectUnitsMember" xml:lang="en-US" id="label_UrbanDevelopmentProjectUnitsMember">Urban Development Project Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UrbanDevelopmentProjectUnitsMember" xlink:to="label_UrbanDevelopmentProjectUnitsMember" xlink:title="label: UrbanDevelopmentProjectUnitsMember to label_UrbanDevelopmentProjectUnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_UrbanDevelopmentProjectUnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_UrbanDevelopmentProjectUnitsMember" xml:lang="en-US" id="label_UrbanDevelopmentProjectUnitsMember_2">Represents information pertaining to urban development project units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UrbanDevelopmentProjectUnitsMember" xlink:to="label_UrbanDevelopmentProjectUnitsMember_2" xlink:title="label: UrbanDevelopmentProjectUnitsMember to label_UrbanDevelopmentProjectUnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_UrbanDevelopmentProjectUnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_UrbanDevelopmentProjectUnitsMember" xml:lang="en-US" id="label_UrbanDevelopmentProjectUnitsMember_3">UDP units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UrbanDevelopmentProjectUnitsMember" xlink:to="label_UrbanDevelopmentProjectUnitsMember_3" xlink:title="label: UrbanDevelopmentProjectUnitsMember to label_UrbanDevelopmentProjectUnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_FreeStandingPrivatePayMemoryCarePropertyWith60UnitsMember" xlink:label="FreeStandingPrivatePayMemoryCarePropertyWith60UnitsMember" xlink:title="FreeStandingPrivatePayMemoryCarePropertyWith60UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_FreeStandingPrivatePayMemoryCarePropertyWith60UnitsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FreeStandingPrivatePayMemoryCarePropertyWith60UnitsMember" xml:lang="en-US" id="label_FreeStandingPrivatePayMemoryCarePropertyWith60UnitsMember">60-unit free-standing, private-pay memory care property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FreeStandingPrivatePayMemoryCarePropertyWith60UnitsMember" xlink:to="label_FreeStandingPrivatePayMemoryCarePropertyWith60UnitsMember" xlink:title="label: FreeStandingPrivatePayMemoryCarePropertyWith60UnitsMember to label_FreeStandingPrivatePayMemoryCarePropertyWith60UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_FreeStandingPrivatePayMemoryCarePropertyWith60UnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FreeStandingPrivatePayMemoryCarePropertyWith60UnitsMember" xml:lang="en-US" id="label_FreeStandingPrivatePayMemoryCarePropertyWith60UnitsMember_2">Represents the information pertaining to free-standing, private-pay memory care property comprising of 60 units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FreeStandingPrivatePayMemoryCarePropertyWith60UnitsMember" xlink:to="label_FreeStandingPrivatePayMemoryCarePropertyWith60UnitsMember_2" xlink:title="label: FreeStandingPrivatePayMemoryCarePropertyWith60UnitsMember to label_FreeStandingPrivatePayMemoryCarePropertyWith60UnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_FreeStandingPrivatePayMemoryCarePropertyWith60UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FreeStandingPrivatePayMemoryCarePropertyWith60UnitsMember" xml:lang="en-US" id="label_FreeStandingPrivatePayMemoryCarePropertyWith60UnitsMember_3">Free Standing Private Pay Memory Care Property with 60 Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FreeStandingPrivatePayMemoryCarePropertyWith60UnitsMember" xlink:to="label_FreeStandingPrivatePayMemoryCarePropertyWith60UnitsMember_3" xlink:title="label: FreeStandingPrivatePayMemoryCarePropertyWith60UnitsMember to label_FreeStandingPrivatePayMemoryCarePropertyWith60UnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_EDUUnitsMember" xlink:label="EDUUnitsMember" xlink:title="EDUUnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_EDUUnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EDUUnitsMember" xml:lang="en-US" id="label_EDUUnitsMember">EDU Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EDUUnitsMember" xlink:to="label_EDUUnitsMember" xlink:title="label: EDUUnitsMember to label_EDUUnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EDUUnitsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_EDUUnitsMember" xml:lang="en-US" id="label_EDUUnitsMember_2">Represents information pertaining to EDU units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EDUUnitsMember" xlink:to="label_EDUUnitsMember_2" xlink:title="label: EDUUnitsMember to label_EDUUnitsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EDUUnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EDUUnitsMember" xml:lang="en-US" id="label_EDUUnitsMember_3">EDU units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EDUUnitsMember" xlink:to="label_EDUUnitsMember_3" xlink:title="label: EDUUnitsMember to label_EDUUnitsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DebtInstrumentShelfAgreementMaturityPeriod" xlink:label="DebtInstrumentShelfAgreementMaturityPeriod" xlink:title="DebtInstrumentShelfAgreementMaturityPeriod" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentShelfAgreementMaturityPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentShelfAgreementMaturityPeriod" xml:lang="en-US" id="label_DebtInstrumentShelfAgreementMaturityPeriod">Debt Instrument Shelf Agreement Maturity Period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentShelfAgreementMaturityPeriod" xlink:to="label_DebtInstrumentShelfAgreementMaturityPeriod" xlink:title="label: DebtInstrumentShelfAgreementMaturityPeriod to label_DebtInstrumentShelfAgreementMaturityPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentShelfAgreementMaturityPeriod_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentShelfAgreementMaturityPeriod" xml:lang="en-US" id="label_DebtInstrumentShelfAgreementMaturityPeriod_2">Represents the maturity period of senior unsecured term notes under a Debt Private Placement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentShelfAgreementMaturityPeriod" xlink:to="label_DebtInstrumentShelfAgreementMaturityPeriod_2" xlink:title="label: DebtInstrumentShelfAgreementMaturityPeriod to label_DebtInstrumentShelfAgreementMaturityPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentShelfAgreementMaturityPeriod_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentShelfAgreementMaturityPeriod" xml:lang="en-US" id="label_DebtInstrumentShelfAgreementMaturityPeriod_3">Maturity period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentShelfAgreementMaturityPeriod" xlink:to="label_DebtInstrumentShelfAgreementMaturityPeriod_3" xlink:title="label: DebtInstrumentShelfAgreementMaturityPeriod to label_DebtInstrumentShelfAgreementMaturityPeriod" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NumberOfUnitsInFreeStandingPrivatePayMemoryCareProperty" xlink:label="NumberOfUnitsInFreeStandingPrivatePayMemoryCareProperty" xlink:title="NumberOfUnitsInFreeStandingPrivatePayMemoryCareProperty" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfUnitsInFreeStandingPrivatePayMemoryCareProperty" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfUnitsInFreeStandingPrivatePayMemoryCareProperty" xml:lang="en-US" id="label_NumberOfUnitsInFreeStandingPrivatePayMemoryCareProperty">Number of units in free-standing, private-pay memory care property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfUnitsInFreeStandingPrivatePayMemoryCareProperty" xlink:to="label_NumberOfUnitsInFreeStandingPrivatePayMemoryCareProperty" xlink:title="label: NumberOfUnitsInFreeStandingPrivatePayMemoryCareProperty to label_NumberOfUnitsInFreeStandingPrivatePayMemoryCareProperty" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfUnitsInFreeStandingPrivatePayMemoryCareProperty_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfUnitsInFreeStandingPrivatePayMemoryCareProperty" xml:lang="en-US" id="label_NumberOfUnitsInFreeStandingPrivatePayMemoryCareProperty_2">Represents the number of units in a free-standing, private-pay memory care property.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfUnitsInFreeStandingPrivatePayMemoryCareProperty" xlink:to="label_NumberOfUnitsInFreeStandingPrivatePayMemoryCareProperty_2" xlink:title="label: NumberOfUnitsInFreeStandingPrivatePayMemoryCareProperty to label_NumberOfUnitsInFreeStandingPrivatePayMemoryCareProperty" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfUnitsInFreeStandingPrivatePayMemoryCareProperty_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfUnitsInFreeStandingPrivatePayMemoryCareProperty" xml:lang="en-US" id="label_NumberOfUnitsInFreeStandingPrivatePayMemoryCareProperty_3">Number of Units in Free Standing Private Pay Memory Care Property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfUnitsInFreeStandingPrivatePayMemoryCareProperty" xlink:to="label_NumberOfUnitsInFreeStandingPrivatePayMemoryCareProperty_3" xlink:title="label: NumberOfUnitsInFreeStandingPrivatePayMemoryCareProperty to label_NumberOfUnitsInFreeStandingPrivatePayMemoryCareProperty" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumber" xlink:label="BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumber" xlink:title="BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumber" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumber" xml:lang="en-US" id="label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumber">Business Acquisition Amount Invested for Construction of Properties Number</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumber" xlink:to="label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumber" xlink:title="label: BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumber to label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumber" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumber_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumber" xml:lang="en-US" id="label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumber_2">Number of properties in which amount is invested for construction</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumber" xlink:to="label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumber_2" xlink:title="label: BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumber to label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumber" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumber_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumber" xml:lang="en-US" id="label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumber_3">Represents the number of properties in which amount is invested for construction of those properties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumber" xlink:to="label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumber_3" xlink:title="label: BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumber to label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumber" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumberOfOperators" xlink:label="BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumberOfOperators" xlink:title="BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumberOfOperators" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumberOfOperators" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumberOfOperators" xml:lang="en-US" id="label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumberOfOperators">Business Acquisition Amount Invested for Construction of Properties Number of Operators</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumberOfOperators" xlink:to="label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumberOfOperators" xlink:title="label: BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumberOfOperators to label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumberOfOperators" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumberOfOperators_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumberOfOperators" xml:lang="en-US" id="label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumberOfOperators_2">Number of operators of properties to be constructed</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumberOfOperators" xlink:to="label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumberOfOperators_2" xlink:title="label: BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumberOfOperators to label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumberOfOperators" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumberOfOperators_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumberOfOperators" xml:lang="en-US" id="label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumberOfOperators_3">Represents the number of operators operating the properties under construction.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumberOfOperators" xlink:to="label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumberOfOperators_3" xlink:title="label: BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumberOfOperators to label_BusinessAcquisitionAmountInvestedForConstructionOfPropertiesNumberOfOperators" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentsAdditionalAmountFunded" xlink:label="CapitalImprovementCommitmentsAdditionalAmountFunded" xlink:title="CapitalImprovementCommitmentsAdditionalAmountFunded" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsAdditionalAmountFunded" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentsAdditionalAmountFunded" xml:lang="en-US" id="label_CapitalImprovementCommitmentsAdditionalAmountFunded">Capital Improvement Commitments Additional Amount Funded</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsAdditionalAmountFunded" xlink:to="label_CapitalImprovementCommitmentsAdditionalAmountFunded" xlink:title="label: CapitalImprovementCommitmentsAdditionalAmountFunded to label_CapitalImprovementCommitmentsAdditionalAmountFunded" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsAdditionalAmountFunded_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentsAdditionalAmountFunded" xml:lang="en-US" id="label_CapitalImprovementCommitmentsAdditionalAmountFunded_2">Additional funded capital improvement commitment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsAdditionalAmountFunded" xlink:to="label_CapitalImprovementCommitmentsAdditionalAmountFunded_2" xlink:title="label: CapitalImprovementCommitmentsAdditionalAmountFunded to label_CapitalImprovementCommitmentsAdditionalAmountFunded" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsAdditionalAmountFunded_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentsAdditionalAmountFunded" xml:lang="en-US" id="label_CapitalImprovementCommitmentsAdditionalAmountFunded_3">Represents the additional amount funded into various capital improvement commitments by the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsAdditionalAmountFunded" xlink:to="label_CapitalImprovementCommitmentsAdditionalAmountFunded_3" xlink:title="label: CapitalImprovementCommitmentsAdditionalAmountFunded to label_CapitalImprovementCommitmentsAdditionalAmountFunded" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsAdditionalAmountFunded_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_CapitalImprovementCommitmentsAdditionalAmountFunded" xml:lang="en-US" id="label_CapitalImprovementCommitmentsAdditionalAmountFunded_4">Funded Commitment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsAdditionalAmountFunded" xlink:to="label_CapitalImprovementCommitmentsAdditionalAmountFunded_4" xlink:title="label: CapitalImprovementCommitmentsAdditionalAmountFunded to label_CapitalImprovementCommitmentsAdditionalAmountFunded" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentsAdditionalAmountFunded_5" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_CapitalImprovementCommitmentsAdditionalAmountFunded" xml:lang="en-US" id="label_CapitalImprovementCommitmentsAdditionalAmountFunded_5">Capital improvement funding to existing properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentsAdditionalAmountFunded" xlink:to="label_CapitalImprovementCommitmentsAdditionalAmountFunded_5" xlink:title="label: CapitalImprovementCommitmentsAdditionalAmountFunded to label_CapitalImprovementCommitmentsAdditionalAmountFunded" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AmortizationOfFinancingCosts" xlink:label="AmortizationOfFinancingCosts" xlink:title="AmortizationOfFinancingCosts" />
    <link:label xlink:type="resource" xlink:label="label_AmortizationOfFinancingCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AmortizationOfFinancingCosts" xml:lang="en-US" id="label_AmortizationOfFinancingCosts">Amortization of Financing Costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmortizationOfFinancingCosts" xlink:to="label_AmortizationOfFinancingCosts" xlink:title="label: AmortizationOfFinancingCosts to label_AmortizationOfFinancingCosts" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AmortizationOfFinancingCosts_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AmortizationOfFinancingCosts" xml:lang="en-US" id="label_AmortizationOfFinancingCosts_2">Non-cash interest related to earn-out liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmortizationOfFinancingCosts" xlink:to="label_AmortizationOfFinancingCosts_2" xlink:title="label: AmortizationOfFinancingCosts to label_AmortizationOfFinancingCosts" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_AcquisitionOfLandAmountFunded" xlink:label="AcquisitionOfLandAmountFunded" xlink:title="AcquisitionOfLandAmountFunded" />
    <link:label xlink:type="resource" xlink:label="label_AcquisitionOfLandAmountFunded" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AcquisitionOfLandAmountFunded" xml:lang="en-US" id="label_AcquisitionOfLandAmountFunded">Acquisition of Land Amount Funded</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitionOfLandAmountFunded" xlink:to="label_AcquisitionOfLandAmountFunded" xlink:title="label: AcquisitionOfLandAmountFunded to label_AcquisitionOfLandAmountFunded" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AcquisitionOfLandAmountFunded_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AcquisitionOfLandAmountFunded" xml:lang="en-US" id="label_AcquisitionOfLandAmountFunded_2">Acquired land</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitionOfLandAmountFunded" xlink:to="label_AcquisitionOfLandAmountFunded_2" xlink:title="label: AcquisitionOfLandAmountFunded to label_AcquisitionOfLandAmountFunded" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AcquisitionOfLandAmountFunded_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AcquisitionOfLandAmountFunded" xml:lang="en-US" id="label_AcquisitionOfLandAmountFunded_3">Represents the amount funded for acquisition of land.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitionOfLandAmountFunded" xlink:to="label_AcquisitionOfLandAmountFunded_3" xlink:title="label: AcquisitionOfLandAmountFunded to label_AcquisitionOfLandAmountFunded" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_DebtInstrumentAnnualPrincipalPaymentBeginningInYearEightThroughMaturity" xlink:label="DebtInstrumentAnnualPrincipalPaymentBeginningInYearEightThroughMaturity" xlink:title="DebtInstrumentAnnualPrincipalPaymentBeginningInYearEightThroughMaturity" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentAnnualPrincipalPaymentBeginningInYearEightThroughMaturity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentAnnualPrincipalPaymentBeginningInYearEightThroughMaturity" xml:lang="en-US" id="label_DebtInstrumentAnnualPrincipalPaymentBeginningInYearEightThroughMaturity">Debt Instrument Annual Principal Payment Beginning in Year Eight Through Maturity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentAnnualPrincipalPaymentBeginningInYearEightThroughMaturity" xlink:to="label_DebtInstrumentAnnualPrincipalPaymentBeginningInYearEightThroughMaturity" xlink:title="label: DebtInstrumentAnnualPrincipalPaymentBeginningInYearEightThroughMaturity to label_DebtInstrumentAnnualPrincipalPaymentBeginningInYearEightThroughMaturity" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentAnnualPrincipalPaymentBeginningInYearEightThroughMaturity_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentAnnualPrincipalPaymentBeginningInYearEightThroughMaturity" xml:lang="en-US" id="label_DebtInstrumentAnnualPrincipalPaymentBeginningInYearEightThroughMaturity_2">Amount of annual principal payments to be made from year eight through maturity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentAnnualPrincipalPaymentBeginningInYearEightThroughMaturity" xlink:to="label_DebtInstrumentAnnualPrincipalPaymentBeginningInYearEightThroughMaturity_2" xlink:title="label: DebtInstrumentAnnualPrincipalPaymentBeginningInYearEightThroughMaturity to label_DebtInstrumentAnnualPrincipalPaymentBeginningInYearEightThroughMaturity" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentAnnualPrincipalPaymentBeginningInYearEightThroughMaturity_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentAnnualPrincipalPaymentBeginningInYearEightThroughMaturity" xml:lang="en-US" id="label_DebtInstrumentAnnualPrincipalPaymentBeginningInYearEightThroughMaturity_3">Scheduled annual principal pay downs from year 8 through 12</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentAnnualPrincipalPaymentBeginningInYearEightThroughMaturity" xlink:to="label_DebtInstrumentAnnualPrincipalPaymentBeginningInYearEightThroughMaturity_3" xlink:title="label: DebtInstrumentAnnualPrincipalPaymentBeginningInYearEightThroughMaturity to label_DebtInstrumentAnnualPrincipalPaymentBeginningInYearEightThroughMaturity" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateDescriptionTypeOfPaymentAxis" xlink:label="MortgageLoansOnRealEstateDescriptionTypeOfPaymentAxis" xlink:title="MortgageLoansOnRealEstateDescriptionTypeOfPaymentAxis" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateDescriptionTypeOfPaymentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateDescriptionTypeOfPaymentAxis" xml:lang="en-US" id="label_MortgageLoansOnRealEstateDescriptionTypeOfPaymentAxis">Mortgage Loans on Real Estate Description Type of Payment [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateDescriptionTypeOfPaymentAxis" xlink:to="label_MortgageLoansOnRealEstateDescriptionTypeOfPaymentAxis" xlink:title="label: MortgageLoansOnRealEstateDescriptionTypeOfPaymentAxis to label_MortgageLoansOnRealEstateDescriptionTypeOfPaymentAxis" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateDescriptionTypeOfPaymentAxis_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateDescriptionTypeOfPaymentAxis" xml:lang="en-US" id="label_MortgageLoansOnRealEstateDescriptionTypeOfPaymentAxis_2">Represents mortgage loan on real estate properties segregated by types of payments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateDescriptionTypeOfPaymentAxis" xlink:to="label_MortgageLoansOnRealEstateDescriptionTypeOfPaymentAxis_2" xlink:title="label: MortgageLoansOnRealEstateDescriptionTypeOfPaymentAxis to label_MortgageLoansOnRealEstateDescriptionTypeOfPaymentAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateDescriptionTypeOfPaymentDomain" xlink:label="MortgageLoansOnRealEstateDescriptionTypeOfPaymentDomain" xlink:title="MortgageLoansOnRealEstateDescriptionTypeOfPaymentDomain" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateDescriptionTypeOfPaymentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateDescriptionTypeOfPaymentDomain" xml:lang="en-US" id="label_MortgageLoansOnRealEstateDescriptionTypeOfPaymentDomain">Mortgage Loans on Real Estate Description Type of Payment [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateDescriptionTypeOfPaymentDomain" xlink:to="label_MortgageLoansOnRealEstateDescriptionTypeOfPaymentDomain" xlink:title="label: MortgageLoansOnRealEstateDescriptionTypeOfPaymentDomain to label_MortgageLoansOnRealEstateDescriptionTypeOfPaymentDomain" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateDescriptionTypeOfPaymentDomain_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateDescriptionTypeOfPaymentDomain" xml:lang="en-US" id="label_MortgageLoansOnRealEstateDescriptionTypeOfPaymentDomain_2">Represents categories used to group type of payment on real estate mortgage loans into groups of loans of similar original loan amounts.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateDescriptionTypeOfPaymentDomain" xlink:to="label_MortgageLoansOnRealEstateDescriptionTypeOfPaymentDomain_2" xlink:title="label: MortgageLoansOnRealEstateDescriptionTypeOfPaymentDomain to label_MortgageLoansOnRealEstateDescriptionTypeOfPaymentDomain" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_PrepaymentMember" xlink:label="PrepaymentMember" xlink:title="PrepaymentMember" />
    <link:label xlink:type="resource" xlink:label="label_PrepaymentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PrepaymentMember" xml:lang="en-US" id="label_PrepaymentMember">Prepayment [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrepaymentMember" xlink:to="label_PrepaymentMember" xlink:title="label: PrepaymentMember to label_PrepaymentMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PrepaymentMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PrepaymentMember" xml:lang="en-US" id="label_PrepaymentMember_2">Notice of prepayment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrepaymentMember" xlink:to="label_PrepaymentMember_2" xlink:title="label: PrepaymentMember to label_PrepaymentMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PrepaymentMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PrepaymentMember" xml:lang="en-US" id="label_PrepaymentMember_3">Represents the information pertaining to prepayment notice received on properties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrepaymentMember" xlink:to="label_PrepaymentMember_3" xlink:title="label: PrepaymentMember to label_PrepaymentMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentExpiringJuly2014Member" xlink:label="CapitalImprovementCommitmentExpiringJuly2014Member" xlink:title="CapitalImprovementCommitmentExpiringJuly2014Member" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringJuly2014Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentExpiringJuly2014Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringJuly2014Member">Capital Improvement Commitment Expiring July 2014 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringJuly2014Member" xlink:to="label_CapitalImprovementCommitmentExpiringJuly2014Member" xlink:title="label: CapitalImprovementCommitmentExpiringJuly2014Member to label_CapitalImprovementCommitmentExpiringJuly2014Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringJuly2014Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentExpiringJuly2014Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringJuly2014Member_2">Capital improvement commitment expiring in July 2014</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringJuly2014Member" xlink:to="label_CapitalImprovementCommitmentExpiringJuly2014Member_2" xlink:title="label: CapitalImprovementCommitmentExpiringJuly2014Member to label_CapitalImprovementCommitmentExpiringJuly2014Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringJuly2014Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentExpiringJuly2014Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringJuly2014Member_3">Represents information pertaining to the capital improvement commitment expiring in July 2014.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringJuly2014Member" xlink:to="label_CapitalImprovementCommitmentExpiringJuly2014Member_3" xlink:title="label: CapitalImprovementCommitmentExpiringJuly2014Member to label_CapitalImprovementCommitmentExpiringJuly2014Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentExpiringJune122014Member" xlink:label="CapitalImprovementCommitmentExpiringJune122014Member" xlink:title="CapitalImprovementCommitmentExpiringJune122014Member" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringJune122014Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentExpiringJune122014Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringJune122014Member">Capital Improvement Commitment Expiring June 12, 2014 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringJune122014Member" xlink:to="label_CapitalImprovementCommitmentExpiringJune122014Member" xlink:title="label: CapitalImprovementCommitmentExpiringJune122014Member to label_CapitalImprovementCommitmentExpiringJune122014Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringJune122014Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentExpiringJune122014Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringJune122014Member_2">Capital improvement commitment expiring on 6/12/2014</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringJune122014Member" xlink:to="label_CapitalImprovementCommitmentExpiringJune122014Member_2" xlink:title="label: CapitalImprovementCommitmentExpiringJune122014Member to label_CapitalImprovementCommitmentExpiringJune122014Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringJune122014Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentExpiringJune122014Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringJune122014Member_3">Represents information pertaining to the capital improvement commitment expiring on June 12, 2014.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringJune122014Member" xlink:to="label_CapitalImprovementCommitmentExpiringJune122014Member_3" xlink:title="label: CapitalImprovementCommitmentExpiringJune122014Member to label_CapitalImprovementCommitmentExpiringJune122014Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LoanCommitmentExpiringNovember302013Member" xlink:label="LoanCommitmentExpiringNovember302013Member" xlink:title="LoanCommitmentExpiringNovember302013Member" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringNovember302013Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LoanCommitmentExpiringNovember302013Member" xml:lang="en-US" id="label_LoanCommitmentExpiringNovember302013Member">Loan Commitment Expiring November 30, 2013 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringNovember302013Member" xlink:to="label_LoanCommitmentExpiringNovember302013Member" xlink:title="label: LoanCommitmentExpiringNovember302013Member to label_LoanCommitmentExpiringNovember302013Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringNovember302013Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LoanCommitmentExpiringNovember302013Member" xml:lang="en-US" id="label_LoanCommitmentExpiringNovember302013Member_2">Loan commitment expiring on 11/30/2013</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringNovember302013Member" xlink:to="label_LoanCommitmentExpiringNovember302013Member_2" xlink:title="label: LoanCommitmentExpiringNovember302013Member to label_LoanCommitmentExpiringNovember302013Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LoanCommitmentExpiringNovember302013Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LoanCommitmentExpiringNovember302013Member" xml:lang="en-US" id="label_LoanCommitmentExpiringNovember302013Member_3">Represents information pertaining to the loan commitment expiring on November 30, 2013.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoanCommitmentExpiringNovember302013Member" xlink:to="label_LoanCommitmentExpiringNovember302013Member_3" xlink:title="label: LoanCommitmentExpiringNovember302013Member to label_LoanCommitmentExpiringNovember302013Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentExpiringAugust012014Member" xlink:label="CapitalImprovementCommitmentExpiringAugust012014Member" xlink:title="CapitalImprovementCommitmentExpiringAugust012014Member" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringAugust012014Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentExpiringAugust012014Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringAugust012014Member">Capital Improvement Commitment Expiring August 01, 2014 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringAugust012014Member" xlink:to="label_CapitalImprovementCommitmentExpiringAugust012014Member" xlink:title="label: CapitalImprovementCommitmentExpiringAugust012014Member to label_CapitalImprovementCommitmentExpiringAugust012014Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringAugust012014Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentExpiringAugust012014Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringAugust012014Member_2">Capital improvement commitment expiring on 8/01/2014</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringAugust012014Member" xlink:to="label_CapitalImprovementCommitmentExpiringAugust012014Member_2" xlink:title="label: CapitalImprovementCommitmentExpiringAugust012014Member to label_CapitalImprovementCommitmentExpiringAugust012014Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringAugust012014Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentExpiringAugust012014Member" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringAugust012014Member_3">Represents information pertaining to the capital improvement commitment expiring on August 1, 2014.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringAugust012014Member" xlink:to="label_CapitalImprovementCommitmentExpiringAugust012014Member_3" xlink:title="label: CapitalImprovementCommitmentExpiringAugust012014Member to label_CapitalImprovementCommitmentExpiringAugust012014Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CapitalImprovementCommitmentExpiringAugust012014TwoMember" xlink:label="CapitalImprovementCommitmentExpiringAugust012014TwoMember" xlink:title="CapitalImprovementCommitmentExpiringAugust012014TwoMember" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringAugust012014TwoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalImprovementCommitmentExpiringAugust012014TwoMember" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringAugust012014TwoMember">Capital Improvement Commitment Expiring August 01, 2014 Two [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringAugust012014TwoMember" xlink:to="label_CapitalImprovementCommitmentExpiringAugust012014TwoMember" xlink:title="label: CapitalImprovementCommitmentExpiringAugust012014TwoMember to label_CapitalImprovementCommitmentExpiringAugust012014TwoMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringAugust012014TwoMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalImprovementCommitmentExpiringAugust012014TwoMember" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringAugust012014TwoMember_2">Capital improvement commitment expiring on 8/01/2014</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringAugust012014TwoMember" xlink:to="label_CapitalImprovementCommitmentExpiringAugust012014TwoMember_2" xlink:title="label: CapitalImprovementCommitmentExpiringAugust012014TwoMember to label_CapitalImprovementCommitmentExpiringAugust012014TwoMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CapitalImprovementCommitmentExpiringAugust012014TwoMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalImprovementCommitmentExpiringAugust012014TwoMember" xml:lang="en-US" id="label_CapitalImprovementCommitmentExpiringAugust012014TwoMember_3">Represents information pertaining to the second capital improvement commitment expiring on August 1, 2014.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalImprovementCommitmentExpiringAugust012014TwoMember" xlink:to="label_CapitalImprovementCommitmentExpiringAugust012014TwoMember_3" xlink:title="label: CapitalImprovementCommitmentExpiringAugust012014TwoMember to label_CapitalImprovementCommitmentExpiringAugust012014TwoMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_MortgageLoansOnRealEstateExpectedLoansPaidOffNumberOfUnitsOrBeds" xlink:label="MortgageLoansOnRealEstateExpectedLoansPaidOffNumberOfUnitsOrBeds" xlink:title="MortgageLoansOnRealEstateExpectedLoansPaidOffNumberOfUnitsOrBeds" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateExpectedLoansPaidOffNumberOfUnitsOrBeds" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateExpectedLoansPaidOffNumberOfUnitsOrBeds" xml:lang="en-US" id="label_MortgageLoansOnRealEstateExpectedLoansPaidOffNumberOfUnitsOrBeds">Mortgage Loans on Real Estate Expected Loans Paid Off Number of Units or Beds</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateExpectedLoansPaidOffNumberOfUnitsOrBeds" xlink:to="label_MortgageLoansOnRealEstateExpectedLoansPaidOffNumberOfUnitsOrBeds" xlink:title="label: MortgageLoansOnRealEstateExpectedLoansPaidOffNumberOfUnitsOrBeds to label_MortgageLoansOnRealEstateExpectedLoansPaidOffNumberOfUnitsOrBeds" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateExpectedLoansPaidOffNumberOfUnitsOrBeds_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateExpectedLoansPaidOffNumberOfUnitsOrBeds" xml:lang="en-US" id="label_MortgageLoansOnRealEstateExpectedLoansPaidOffNumberOfUnitsOrBeds_2">Number of units/beds at the property securing mortgage loans expected to be paid off</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateExpectedLoansPaidOffNumberOfUnitsOrBeds" xlink:to="label_MortgageLoansOnRealEstateExpectedLoansPaidOffNumberOfUnitsOrBeds_2" xlink:title="label: MortgageLoansOnRealEstateExpectedLoansPaidOffNumberOfUnitsOrBeds to label_MortgageLoansOnRealEstateExpectedLoansPaidOffNumberOfUnitsOrBeds" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateExpectedLoansPaidOffNumberOfUnitsOrBeds_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MortgageLoansOnRealEstateExpectedLoansPaidOffNumberOfUnitsOrBeds" xml:lang="en-US" id="label_MortgageLoansOnRealEstateExpectedLoansPaidOffNumberOfUnitsOrBeds_3">Represents the number of units/beds at the property securing mortgage loans expected to be paid off.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateExpectedLoansPaidOffNumberOfUnitsOrBeds" xlink:to="label_MortgageLoansOnRealEstateExpectedLoansPaidOffNumberOfUnitsOrBeds_3" xlink:title="label: MortgageLoansOnRealEstateExpectedLoansPaidOffNumberOfUnitsOrBeds to label_MortgageLoansOnRealEstateExpectedLoansPaidOffNumberOfUnitsOrBeds" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CommonStockSharesAuthorizedBeforeAmendment" xlink:label="CommonStockSharesAuthorizedBeforeAmendment" xlink:title="CommonStockSharesAuthorizedBeforeAmendment" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesAuthorizedBeforeAmendment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockSharesAuthorizedBeforeAmendment" xml:lang="en-US" id="label_CommonStockSharesAuthorizedBeforeAmendment">Common Stock Shares Authorized before Amendment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesAuthorizedBeforeAmendment" xlink:to="label_CommonStockSharesAuthorizedBeforeAmendment" xlink:title="label: CommonStockSharesAuthorizedBeforeAmendment to label_CommonStockSharesAuthorizedBeforeAmendment" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesAuthorizedBeforeAmendment_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockSharesAuthorizedBeforeAmendment" xml:lang="en-US" id="label_CommonStockSharesAuthorizedBeforeAmendment_2">Number of authorized shares of common stock before amendment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesAuthorizedBeforeAmendment" xlink:to="label_CommonStockSharesAuthorizedBeforeAmendment_2" xlink:title="label: CommonStockSharesAuthorizedBeforeAmendment to label_CommonStockSharesAuthorizedBeforeAmendment" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesAuthorizedBeforeAmendment_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CommonStockSharesAuthorizedBeforeAmendment" xml:lang="en-US" id="label_CommonStockSharesAuthorizedBeforeAmendment_3">Represents the number of authorized common stock before amendment to charter.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesAuthorizedBeforeAmendment" xlink:to="label_CommonStockSharesAuthorizedBeforeAmendment_3" xlink:title="label: CommonStockSharesAuthorizedBeforeAmendment to label_CommonStockSharesAuthorizedBeforeAmendment" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_PropertiesHeldForUseNumberOfUnits" xlink:label="PropertiesHeldForUseNumberOfUnits" xlink:title="PropertiesHeldForUseNumberOfUnits" />
    <link:label xlink:type="resource" xlink:label="label_PropertiesHeldForUseNumberOfUnits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PropertiesHeldForUseNumberOfUnits" xml:lang="en-US" id="label_PropertiesHeldForUseNumberOfUnits">Properties Held for Use Number of Units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertiesHeldForUseNumberOfUnits" xlink:to="label_PropertiesHeldForUseNumberOfUnits" xlink:title="label: PropertiesHeldForUseNumberOfUnits to label_PropertiesHeldForUseNumberOfUnits" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PropertiesHeldForUseNumberOfUnits_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PropertiesHeldForUseNumberOfUnits" xml:lang="en-US" id="label_PropertiesHeldForUseNumberOfUnits_2">Properties Held for use, Number of Units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertiesHeldForUseNumberOfUnits" xlink:to="label_PropertiesHeldForUseNumberOfUnits_2" xlink:title="label: PropertiesHeldForUseNumberOfUnits to label_PropertiesHeldForUseNumberOfUnits" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PropertiesHeldForUseNumberOfUnits_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PropertiesHeldForUseNumberOfUnits" xml:lang="en-US" id="label_PropertiesHeldForUseNumberOfUnits_3">Represents the number of units in properties classified as held-for-use.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertiesHeldForUseNumberOfUnits" xlink:to="label_PropertiesHeldForUseNumberOfUnits_3" xlink:title="label: PropertiesHeldForUseNumberOfUnits to label_PropertiesHeldForUseNumberOfUnits" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_IncreaseOfDepreciationExpense" xlink:label="IncreaseOfDepreciationExpense" xlink:title="IncreaseOfDepreciationExpense" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseOfDepreciationExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseOfDepreciationExpense" xml:lang="en-US" id="label_IncreaseOfDepreciationExpense">Increase of depreciation expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseOfDepreciationExpense" xlink:to="label_IncreaseOfDepreciationExpense" xlink:title="label: IncreaseOfDepreciationExpense to label_IncreaseOfDepreciationExpense" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseOfDepreciationExpense_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseOfDepreciationExpense" xml:lang="en-US" id="label_IncreaseOfDepreciationExpense_2">Represents the increase in depreciation expenses due to reclassification of independent living property from held-for-sale to held-for-use.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseOfDepreciationExpense" xlink:to="label_IncreaseOfDepreciationExpense_2" xlink:title="label: IncreaseOfDepreciationExpense to label_IncreaseOfDepreciationExpense" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseOfDepreciationExpense_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseOfDepreciationExpense" xml:lang="en-US" id="label_IncreaseOfDepreciationExpense_3">Increase of Depreciation Expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseOfDepreciationExpense" xlink:to="label_IncreaseOfDepreciationExpense_3" xlink:title="label: IncreaseOfDepreciationExpense to label_IncreaseOfDepreciationExpense" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NumberOfBedsOrUnitsInExistingRealEstatePropertyBeingReplaced" xlink:label="NumberOfBedsOrUnitsInExistingRealEstatePropertyBeingReplaced" xlink:title="NumberOfBedsOrUnitsInExistingRealEstatePropertyBeingReplaced" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfBedsOrUnitsInExistingRealEstatePropertyBeingReplaced" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfBedsOrUnitsInExistingRealEstatePropertyBeingReplaced" xml:lang="en-US" id="label_NumberOfBedsOrUnitsInExistingRealEstatePropertyBeingReplaced">Number of beds/units in existing property that is being replaced</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfBedsOrUnitsInExistingRealEstatePropertyBeingReplaced" xlink:to="label_NumberOfBedsOrUnitsInExistingRealEstatePropertyBeingReplaced" xlink:title="label: NumberOfBedsOrUnitsInExistingRealEstatePropertyBeingReplaced to label_NumberOfBedsOrUnitsInExistingRealEstatePropertyBeingReplaced" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfBedsOrUnitsInExistingRealEstatePropertyBeingReplaced_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfBedsOrUnitsInExistingRealEstatePropertyBeingReplaced" xml:lang="en-US" id="label_NumberOfBedsOrUnitsInExistingRealEstatePropertyBeingReplaced_2">Number of Beds or Units in Existing Real Estate Property being Replaced</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfBedsOrUnitsInExistingRealEstatePropertyBeingReplaced" xlink:to="label_NumberOfBedsOrUnitsInExistingRealEstatePropertyBeingReplaced_2" xlink:title="label: NumberOfBedsOrUnitsInExistingRealEstatePropertyBeingReplaced to label_NumberOfBedsOrUnitsInExistingRealEstatePropertyBeingReplaced" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfBedsOrUnitsInExistingRealEstatePropertyBeingReplaced_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfBedsOrUnitsInExistingRealEstatePropertyBeingReplaced" xml:lang="en-US" id="label_NumberOfBedsOrUnitsInExistingRealEstatePropertyBeingReplaced_3">The number of beds or units in an existing real estate property that is being replaced by the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfBedsOrUnitsInExistingRealEstatePropertyBeingReplaced" xlink:to="label_NumberOfBedsOrUnitsInExistingRealEstatePropertyBeingReplaced_3" xlink:title="label: NumberOfBedsOrUnitsInExistingRealEstatePropertyBeingReplaced to label_NumberOfBedsOrUnitsInExistingRealEstatePropertyBeingReplaced" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ContingentEarnOutPaymentsNumber" xlink:label="ContingentEarnOutPaymentsNumber" xlink:title="ContingentEarnOutPaymentsNumber" />
    <link:label xlink:type="resource" xlink:label="label_ContingentEarnOutPaymentsNumber" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ContingentEarnOutPaymentsNumber" xml:lang="en-US" id="label_ContingentEarnOutPaymentsNumber">Represents the number contingent earn-out payments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentEarnOutPaymentsNumber" xlink:to="label_ContingentEarnOutPaymentsNumber" xlink:title="label: ContingentEarnOutPaymentsNumber to label_ContingentEarnOutPaymentsNumber" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ContingentEarnOutPaymentsNumber_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ContingentEarnOutPaymentsNumber" xml:lang="en-US" id="label_ContingentEarnOutPaymentsNumber_2">Contingent Earn Out Payments Number</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentEarnOutPaymentsNumber" xlink:to="label_ContingentEarnOutPaymentsNumber_2" xlink:title="label: ContingentEarnOutPaymentsNumber to label_ContingentEarnOutPaymentsNumber" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ContingentEarnOutPaymentsNumber_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ContingentEarnOutPaymentsNumber" xml:lang="en-US" id="label_ContingentEarnOutPaymentsNumber_3">Number of earn-out payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentEarnOutPaymentsNumber" xlink:to="label_ContingentEarnOutPaymentsNumber_3" xlink:title="label: ContingentEarnOutPaymentsNumber to label_ContingentEarnOutPaymentsNumber" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RedOak254TXMember" xlink:label="RedOak254TXMember" xlink:title="RedOak254TXMember" />
    <link:label xlink:type="resource" xlink:label="label_RedOak254TXMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RedOak254TXMember" xml:lang="en-US" id="label_RedOak254TXMember">254 Red Oak, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedOak254TXMember" xlink:to="label_RedOak254TXMember" xlink:title="label: RedOak254TXMember to label_RedOak254TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RedOak254TXMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RedOak254TXMember" xml:lang="en-US" id="label_RedOak254TXMember_2">Represents the information pertaining to 254 Red Oak, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedOak254TXMember" xlink:to="label_RedOak254TXMember_2" xlink:title="label: RedOak254TXMember to label_RedOak254TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RedOak254TXMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RedOak254TXMember" xml:lang="en-US" id="label_RedOak254TXMember_3">Red Oak 254 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedOak254TXMember" xlink:to="label_RedOak254TXMember_3" xlink:title="label: RedOak254TXMember to label_RedOak254TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Brownwood256TXMember" xlink:label="Brownwood256TXMember" xlink:title="Brownwood256TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Brownwood256TXMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Brownwood256TXMember" xml:lang="en-US" id="label_Brownwood256TXMember">256 Brownwood, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Brownwood256TXMember" xlink:to="label_Brownwood256TXMember" xlink:title="label: Brownwood256TXMember to label_Brownwood256TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Brownwood256TXMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Brownwood256TXMember" xml:lang="en-US" id="label_Brownwood256TXMember_2">Represents the information pertaining to 244 Newberry, SC.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Brownwood256TXMember" xlink:to="label_Brownwood256TXMember_2" xlink:title="label: Brownwood256TXMember to label_Brownwood256TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Brownwood256TXMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Brownwood256TXMember" xml:lang="en-US" id="label_Brownwood256TXMember_3">Brownwood 256 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Brownwood256TXMember" xlink:to="label_Brownwood256TXMember_3" xlink:title="label: Brownwood256TXMember to label_Brownwood256TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Cincinnati257OHMember" xlink:label="Cincinnati257OHMember" xlink:title="Cincinnati257OHMember" />
    <link:label xlink:type="resource" xlink:label="label_Cincinnati257OHMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Cincinnati257OHMember" xml:lang="en-US" id="label_Cincinnati257OHMember">257 Cincinnati, OH</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Cincinnati257OHMember" xlink:to="label_Cincinnati257OHMember" xlink:title="label: Cincinnati257OHMember to label_Cincinnati257OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Cincinnati257OHMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Cincinnati257OHMember" xml:lang="en-US" id="label_Cincinnati257OHMember_2">Represents the information pertaining to 257 Cincinnati, OH.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Cincinnati257OHMember" xlink:to="label_Cincinnati257OHMember_2" xlink:title="label: Cincinnati257OHMember to label_Cincinnati257OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Cincinnati257OHMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Cincinnati257OHMember" xml:lang="en-US" id="label_Cincinnati257OHMember_3">Cincinnati 257 OH [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Cincinnati257OHMember" xlink:to="label_Cincinnati257OHMember_3" xlink:title="label: Cincinnati257OHMember to label_Cincinnati257OHMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Dayton258OHMember" xlink:label="Dayton258OHMember" xlink:title="Dayton258OHMember" />
    <link:label xlink:type="resource" xlink:label="label_Dayton258OHMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Dayton258OHMember" xml:lang="en-US" id="label_Dayton258OHMember">258 Dayton, OH</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Dayton258OHMember" xlink:to="label_Dayton258OHMember" xlink:title="label: Dayton258OHMember to label_Dayton258OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Dayton258OHMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Dayton258OHMember" xml:lang="en-US" id="label_Dayton258OHMember_2">Represents the information pertaining to 258 Dayton, OH.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Dayton258OHMember" xlink:to="label_Dayton258OHMember_2" xlink:title="label: Dayton258OHMember to label_Dayton258OHMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Dayton258OHMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Dayton258OHMember" xml:lang="en-US" id="label_Dayton258OHMember_3">Dayton 258 OH [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Dayton258OHMember" xlink:to="label_Dayton258OHMember_3" xlink:title="label: Dayton258OHMember to label_Dayton258OHMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Aurora260COMember" xlink:label="Aurora260COMember" xlink:title="Aurora260COMember" />
    <link:label xlink:type="resource" xlink:label="label_Aurora260COMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Aurora260COMember" xml:lang="en-US" id="label_Aurora260COMember">260 Aurora, CO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Aurora260COMember" xlink:to="label_Aurora260COMember" xlink:title="label: Aurora260COMember to label_Aurora260COMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Aurora260COMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Aurora260COMember" xml:lang="en-US" id="label_Aurora260COMember_2">Represents the information pertaining to 260 Aurora, CO.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Aurora260COMember" xlink:to="label_Aurora260COMember_2" xlink:title="label: Aurora260COMember to label_Aurora260COMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Aurora260COMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Aurora260COMember" xml:lang="en-US" id="label_Aurora260COMember_3">Aurora 260 CO [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Aurora260COMember" xlink:to="label_Aurora260COMember_3" xlink:title="label: Aurora260COMember to label_Aurora260COMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Chatham263NJMember" xlink:label="Chatham263NJMember" xlink:title="Chatham263NJMember" />
    <link:label xlink:type="resource" xlink:label="label_Chatham263NJMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Chatham263NJMember" xml:lang="en-US" id="label_Chatham263NJMember">263 Chatham, NJ</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Chatham263NJMember" xlink:to="label_Chatham263NJMember" xlink:title="label: Chatham263NJMember to label_Chatham263NJMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Chatham263NJMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Chatham263NJMember" xml:lang="en-US" id="label_Chatham263NJMember_2">Represents the information pertaining to 263 Chatham, NJ.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Chatham263NJMember" xlink:to="label_Chatham263NJMember_2" xlink:title="label: Chatham263NJMember to label_Chatham263NJMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Chatham263NJMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Chatham263NJMember" xml:lang="en-US" id="label_Chatham263NJMember_3">Chatham 263 NJ [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Chatham263NJMember" xlink:to="label_Chatham263NJMember_3" xlink:title="label: Chatham263NJMember to label_Chatham263NJMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Louisville261COMember" xlink:label="Louisville261COMember" xlink:title="Louisville261COMember" />
    <link:label xlink:type="resource" xlink:label="label_Louisville261COMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Louisville261COMember" xml:lang="en-US" id="label_Louisville261COMember">261 Louisville, CO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Louisville261COMember" xlink:to="label_Louisville261COMember" xlink:title="label: Louisville261COMember to label_Louisville261COMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Louisville261COMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Louisville261COMember" xml:lang="en-US" id="label_Louisville261COMember_2">Represents the information pertaining to 261 Louisville, CO.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Louisville261COMember" xlink:to="label_Louisville261COMember_2" xlink:title="label: Louisville261COMember to label_Louisville261COMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Louisville261COMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Louisville261COMember" xml:lang="en-US" id="label_Louisville261COMember_3">Louisville 261 CO [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Louisville261COMember" xlink:to="label_Louisville261COMember_3" xlink:title="label: Louisville261COMember to label_Louisville261COMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Meadville266PAMember" xlink:label="Meadville266PAMember" xlink:title="Meadville266PAMember" />
    <link:label xlink:type="resource" xlink:label="label_Meadville266PAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Meadville266PAMember" xml:lang="en-US" id="label_Meadville266PAMember">266 Meadville, PA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Meadville266PAMember" xlink:to="label_Meadville266PAMember" xlink:title="label: Meadville266PAMember to label_Meadville266PAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Meadville266PAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Meadville266PAMember" xml:lang="en-US" id="label_Meadville266PAMember_2">Represents the information pertaining to 266 Meadville, PA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Meadville266PAMember" xlink:to="label_Meadville266PAMember_2" xlink:title="label: Meadville266PAMember to label_Meadville266PAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Meadville266PAMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Meadville266PAMember" xml:lang="en-US" id="label_Meadville266PAMember_3">Meadville 266 PA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Meadville266PAMember" xlink:to="label_Meadville266PAMember_3" xlink:title="label: Meadville266PAMember to label_Meadville266PAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Pittsburg262PAMember" xlink:label="Pittsburg262PAMember" xlink:title="Pittsburg262PAMember" />
    <link:label xlink:type="resource" xlink:label="label_Pittsburg262PAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Pittsburg262PAMember" xml:lang="en-US" id="label_Pittsburg262PAMember">262 Pittsburg, PA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Pittsburg262PAMember" xlink:to="label_Pittsburg262PAMember" xlink:title="label: Pittsburg262PAMember to label_Pittsburg262PAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Pittsburg262PAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Pittsburg262PAMember" xml:lang="en-US" id="label_Pittsburg262PAMember_2">Represents the information pertaining to 262 Pittsburg, PA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Pittsburg262PAMember" xlink:to="label_Pittsburg262PAMember_2" xlink:title="label: Pittsburg262PAMember to label_Pittsburg262PAMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Pittsburg262PAMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Pittsburg262PAMember" xml:lang="en-US" id="label_Pittsburg262PAMember_3">Pittsburg 262 PA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Pittsburg262PAMember" xlink:to="label_Pittsburg262PAMember_3" xlink:title="label: Pittsburg262PAMember to label_Pittsburg262PAMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Williamstown264NJMember" xlink:label="Williamstown264NJMember" xlink:title="Williamstown264NJMember" />
    <link:label xlink:type="resource" xlink:label="label_Williamstown264NJMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Williamstown264NJMember" xml:lang="en-US" id="label_Williamstown264NJMember">264 Williamstown, NJ</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Williamstown264NJMember" xlink:to="label_Williamstown264NJMember" xlink:title="label: Williamstown264NJMember to label_Williamstown264NJMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Williamstown264NJMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Williamstown264NJMember" xml:lang="en-US" id="label_Williamstown264NJMember_2">Represents the information pertaining to 264 Williamstown, NJ.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Williamstown264NJMember" xlink:to="label_Williamstown264NJMember_2" xlink:title="label: Williamstown264NJMember to label_Williamstown264NJMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Williamstown264NJMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Williamstown264NJMember" xml:lang="en-US" id="label_Williamstown264NJMember_3">Williamstown 264 NJ [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Williamstown264NJMember" xlink:to="label_Williamstown264NJMember_3" xlink:title="label: Williamstown264NJMember to label_Williamstown264NJMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Williamstown265NJMember" xlink:label="Williamstown265NJMember" xlink:title="Williamstown265NJMember" />
    <link:label xlink:type="resource" xlink:label="label_Williamstown265NJMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Williamstown265NJMember" xml:lang="en-US" id="label_Williamstown265NJMember">265 Williamstown, NJ</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Williamstown265NJMember" xlink:to="label_Williamstown265NJMember" xlink:title="label: Williamstown265NJMember to label_Williamstown265NJMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Williamstown265NJMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Williamstown265NJMember" xml:lang="en-US" id="label_Williamstown265NJMember_2">Represents the information pertaining to 265 Williamstown, NJ.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Williamstown265NJMember" xlink:to="label_Williamstown265NJMember_2" xlink:title="label: Williamstown265NJMember to label_Williamstown265NJMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Williamstown265NJMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Williamstown265NJMember" xml:lang="en-US" id="label_Williamstown265NJMember_3">Williamstown 265 NJ [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Williamstown265NJMember" xlink:to="label_Williamstown265NJMember_3" xlink:title="label: Williamstown265NJMember to label_Williamstown265NJMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Littleton255COMember" xlink:label="Littleton255COMember" xlink:title="Littleton255COMember" />
    <link:label xlink:type="resource" xlink:label="label_Littleton255COMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Littleton255COMember" xml:lang="en-US" id="label_Littleton255COMember">255 Littleton, CO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Littleton255COMember" xlink:to="label_Littleton255COMember" xlink:title="label: Littleton255COMember to label_Littleton255COMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Littleton255COMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Littleton255COMember" xml:lang="en-US" id="label_Littleton255COMember_2">Represents the information pertaining to 255 Littleton, CO.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Littleton255COMember" xlink:to="label_Littleton255COMember_2" xlink:title="label: Littleton255COMember to label_Littleton255COMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Littleton255COMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Littleton255COMember" xml:lang="en-US" id="label_Littleton255COMember_3">Littleton 255 CO [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Littleton255COMember" xlink:to="label_Littleton255COMember_3" xlink:title="label: Littleton255COMember to label_Littleton255COMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Wichita259KSMember" xlink:label="Wichita259KSMember" xlink:title="Wichita259KSMember" />
    <link:label xlink:type="resource" xlink:label="label_Wichita259KSMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Wichita259KSMember" xml:lang="en-US" id="label_Wichita259KSMember">259 Wichita, KS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Wichita259KSMember" xlink:to="label_Wichita259KSMember" xlink:title="label: Wichita259KSMember to label_Wichita259KSMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Wichita259KSMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Wichita259KSMember" xml:lang="en-US" id="label_Wichita259KSMember_2">Represents the information pertaining to 259 Wichita, KS.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Wichita259KSMember" xlink:to="label_Wichita259KSMember_2" xlink:title="label: Wichita259KSMember to label_Wichita259KSMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Wichita259KSMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Wichita259KSMember" xml:lang="en-US" id="label_Wichita259KSMember_3">Wichita 259 KS [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Wichita259KSMember" xlink:to="label_Wichita259KSMember_3" xlink:title="label: Wichita259KSMember to label_Wichita259KSMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Coldspring268KYMember" xlink:label="Coldspring268KYMember" xlink:title="Coldspring268KYMember" />
    <link:label xlink:type="resource" xlink:label="label_Coldspring268KYMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Coldspring268KYMember" xml:lang="en-US" id="label_Coldspring268KYMember">268 Coldspring, KY</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Coldspring268KYMember" xlink:to="label_Coldspring268KYMember" xlink:title="label: Coldspring268KYMember to label_Coldspring268KYMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Coldspring268KYMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Coldspring268KYMember" xml:lang="en-US" id="label_Coldspring268KYMember_2">Represents the information pertaining to 268 Coldspring, KY.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Coldspring268KYMember" xlink:to="label_Coldspring268KYMember_2" xlink:title="label: Coldspring268KYMember to label_Coldspring268KYMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Coldspring268KYMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Coldspring268KYMember" xml:lang="en-US" id="label_Coldspring268KYMember_3">Coldspring 268 KY [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Coldspring268KYMember" xlink:to="label_Coldspring268KYMember_3" xlink:title="label: Coldspring268KYMember to label_Coldspring268KYMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_Frisco267TXMember" xlink:label="Frisco267TXMember" xlink:title="Frisco267TXMember" />
    <link:label xlink:type="resource" xlink:label="label_Frisco267TXMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Frisco267TXMember" xml:lang="en-US" id="label_Frisco267TXMember">267 Frisco, TX</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Frisco267TXMember" xlink:to="label_Frisco267TXMember" xlink:title="label: Frisco267TXMember to label_Frisco267TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Frisco267TXMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Frisco267TXMember" xml:lang="en-US" id="label_Frisco267TXMember_2">Represents the information pertaining to 267 Frisco, TX.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Frisco267TXMember" xlink:to="label_Frisco267TXMember_2" xlink:title="label: Frisco267TXMember to label_Frisco267TXMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Frisco267TXMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Frisco267TXMember" xml:lang="en-US" id="label_Frisco267TXMember_3">Frisco 267 TX [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Frisco267TXMember" xlink:to="label_Frisco267TXMember_3" xlink:title="label: Frisco267TXMember to label_Frisco267TXMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_PeriodOfRightToPurchaseReplacementFacility" xlink:label="PeriodOfRightToPurchaseReplacementFacility" xlink:title="PeriodOfRightToPurchaseReplacementFacility" />
    <link:label xlink:type="resource" xlink:label="label_PeriodOfRightToPurchaseReplacementFacility" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PeriodOfRightToPurchaseReplacementFacility" xml:lang="en-US" id="label_PeriodOfRightToPurchaseReplacementFacility">Period of Right to Purchase Replacement Facility</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodOfRightToPurchaseReplacementFacility" xlink:to="label_PeriodOfRightToPurchaseReplacementFacility" xlink:title="label: PeriodOfRightToPurchaseReplacementFacility to label_PeriodOfRightToPurchaseReplacementFacility" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PeriodOfRightToPurchaseReplacementFacility_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PeriodOfRightToPurchaseReplacementFacility" xml:lang="en-US" id="label_PeriodOfRightToPurchaseReplacementFacility_2">Represents the period of right to purchase the replacement facility under agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodOfRightToPurchaseReplacementFacility" xlink:to="label_PeriodOfRightToPurchaseReplacementFacility_2" xlink:title="label: PeriodOfRightToPurchaseReplacementFacility to label_PeriodOfRightToPurchaseReplacementFacility" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PeriodOfRightToPurchaseReplacementFacility_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PeriodOfRightToPurchaseReplacementFacility" xml:lang="en-US" id="label_PeriodOfRightToPurchaseReplacementFacility_3">Period of right to purchase replacement facility</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodOfRightToPurchaseReplacementFacility" xlink:to="label_PeriodOfRightToPurchaseReplacementFacility_3" xlink:title="label: PeriodOfRightToPurchaseReplacementFacility to label_PeriodOfRightToPurchaseReplacementFacility" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_SkilledNursingPropertyAndMemoryCarePropertyMember" xlink:label="SkilledNursingPropertyAndMemoryCarePropertyMember" xlink:title="SkilledNursingPropertyAndMemoryCarePropertyMember" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertyAndMemoryCarePropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SkilledNursingPropertyAndMemoryCarePropertyMember" xml:lang="en-US" id="label_SkilledNursingPropertyAndMemoryCarePropertyMember">Skilled Nursing Property and Memory Care Property [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertyAndMemoryCarePropertyMember" xlink:to="label_SkilledNursingPropertyAndMemoryCarePropertyMember" xlink:title="label: SkilledNursingPropertyAndMemoryCarePropertyMember to label_SkilledNursingPropertyAndMemoryCarePropertyMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertyAndMemoryCarePropertyMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SkilledNursingPropertyAndMemoryCarePropertyMember" xml:lang="en-US" id="label_SkilledNursingPropertyAndMemoryCarePropertyMember_2">Represents information pertaining to the skilled nursing property and memory care property.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertyAndMemoryCarePropertyMember" xlink:to="label_SkilledNursingPropertyAndMemoryCarePropertyMember_2" xlink:title="label: SkilledNursingPropertyAndMemoryCarePropertyMember to label_SkilledNursingPropertyAndMemoryCarePropertyMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SkilledNursingPropertyAndMemoryCarePropertyMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SkilledNursingPropertyAndMemoryCarePropertyMember" xml:lang="en-US" id="label_SkilledNursingPropertyAndMemoryCarePropertyMember_3">Skilled nursing property and memory care property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SkilledNursingPropertyAndMemoryCarePropertyMember" xlink:to="label_SkilledNursingPropertyAndMemoryCarePropertyMember_3" xlink:title="label: SkilledNursingPropertyAndMemoryCarePropertyMember to label_SkilledNursingPropertyAndMemoryCarePropertyMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ProvisionForDoubtfulAccountsContinuingAndDiscontinuedOperations" xlink:label="ProvisionForDoubtfulAccountsContinuingAndDiscontinuedOperations" xlink:title="ProvisionForDoubtfulAccountsContinuingAndDiscontinuedOperations" />
    <link:label xlink:type="resource" xlink:label="label_ProvisionForDoubtfulAccountsContinuingAndDiscontinuedOperations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProvisionForDoubtfulAccountsContinuingAndDiscontinuedOperations" xml:lang="en-US" id="label_ProvisionForDoubtfulAccountsContinuingAndDiscontinuedOperations">Provision (recovery) for doubtful accounts - continuing and discontinued operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProvisionForDoubtfulAccountsContinuingAndDiscontinuedOperations" xlink:to="label_ProvisionForDoubtfulAccountsContinuingAndDiscontinuedOperations" xlink:title="label: ProvisionForDoubtfulAccountsContinuingAndDiscontinuedOperations to label_ProvisionForDoubtfulAccountsContinuingAndDiscontinuedOperations" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ProvisionForDoubtfulAccountsContinuingAndDiscontinuedOperations_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ProvisionForDoubtfulAccountsContinuingAndDiscontinuedOperations" xml:lang="en-US" id="label_ProvisionForDoubtfulAccountsContinuingAndDiscontinuedOperations_2">Amount of the current period expense, related to both continuing and discontinued operations, charged against operations, the offset which is generally to the allowance for doubtful accounts for the purpose of reducing receivables, including notes receivable, to an amount that approximates their net realizable value (the amount expected to be collected).</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProvisionForDoubtfulAccountsContinuingAndDiscontinuedOperations" xlink:to="label_ProvisionForDoubtfulAccountsContinuingAndDiscontinuedOperations_2" xlink:title="label: ProvisionForDoubtfulAccountsContinuingAndDiscontinuedOperations to label_ProvisionForDoubtfulAccountsContinuingAndDiscontinuedOperations" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ProvisionForDoubtfulAccountsContinuingAndDiscontinuedOperations_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProvisionForDoubtfulAccountsContinuingAndDiscontinuedOperations" xml:lang="en-US" id="label_ProvisionForDoubtfulAccountsContinuingAndDiscontinuedOperations_3">Provision for Doubtful Accounts Continuing and Discontinued Operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProvisionForDoubtfulAccountsContinuingAndDiscontinuedOperations" xlink:to="label_ProvisionForDoubtfulAccountsContinuingAndDiscontinuedOperations_3" xlink:title="label: ProvisionForDoubtfulAccountsContinuingAndDiscontinuedOperations to label_ProvisionForDoubtfulAccountsContinuingAndDiscontinuedOperations" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_VestingOverThreeYearPeriodFromGrantDateMember" xlink:label="VestingOverThreeYearPeriodFromGrantDateMember" xlink:title="VestingOverThreeYearPeriodFromGrantDateMember" />
    <link:label xlink:type="resource" xlink:label="label_VestingOverThreeYearPeriodFromGrantDateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_VestingOverThreeYearPeriodFromGrantDateMember" xml:lang="en-US" id="label_VestingOverThreeYearPeriodFromGrantDateMember">Vesting over Three Year Period From Grant Date [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VestingOverThreeYearPeriodFromGrantDateMember" xlink:to="label_VestingOverThreeYearPeriodFromGrantDateMember" xlink:title="label: VestingOverThreeYearPeriodFromGrantDateMember to label_VestingOverThreeYearPeriodFromGrantDateMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_VestingOverThreeYearPeriodFromGrantDateMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_VestingOverThreeYearPeriodFromGrantDateMember" xml:lang="en-US" id="label_VestingOverThreeYearPeriodFromGrantDateMember_2">Vesting ratably over three-year period from the grant date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VestingOverThreeYearPeriodFromGrantDateMember" xlink:to="label_VestingOverThreeYearPeriodFromGrantDateMember_2" xlink:title="label: VestingOverThreeYearPeriodFromGrantDateMember to label_VestingOverThreeYearPeriodFromGrantDateMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_VestingOverThreeYearPeriodFromGrantDateMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_VestingOverThreeYearPeriodFromGrantDateMember" xml:lang="en-US" id="label_VestingOverThreeYearPeriodFromGrantDateMember_3">Represents information pertaining to the stock awards vesting ratably over a three-year period from the grant date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VestingOverThreeYearPeriodFromGrantDateMember" xlink:to="label_VestingOverThreeYearPeriodFromGrantDateMember_3" xlink:title="label: VestingOverThreeYearPeriodFromGrantDateMember to label_VestingOverThreeYearPeriodFromGrantDateMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_VestingDate20December2015Member" xlink:label="VestingDate20December2015Member" xlink:title="VestingDate20December2015Member" />
    <link:label xlink:type="resource" xlink:label="label_VestingDate20December2015Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_VestingDate20December2015Member" xml:lang="en-US" id="label_VestingDate20December2015Member">Vesting Date 20 December 2015 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VestingDate20December2015Member" xlink:to="label_VestingDate20December2015Member" xlink:title="label: VestingDate20December2015Member to label_VestingDate20December2015Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_VestingDate20December2015Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_VestingDate20December2015Member" xml:lang="en-US" id="label_VestingDate20December2015Member_2">Vesting on December 20, 2015</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VestingDate20December2015Member" xlink:to="label_VestingDate20December2015Member_2" xlink:title="label: VestingDate20December2015Member to label_VestingDate20December2015Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_VestingDate20December2015Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_VestingDate20December2015Member" xml:lang="en-US" id="label_VestingDate20December2015Member_3">Represents information pertaining to the stock awards vesting on December 20, 2015.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VestingDate20December2015Member" xlink:to="label_VestingDate20December2015Member_3" xlink:title="label: VestingDate20December2015Member to label_VestingDate20December2015Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_VestingDate1June2016Member" xlink:label="VestingDate1June2016Member" xlink:title="VestingDate1June2016Member" />
    <link:label xlink:type="resource" xlink:label="label_VestingDate1June2016Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_VestingDate1June2016Member" xml:lang="en-US" id="label_VestingDate1June2016Member">Vesting Date 1 June 2016 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VestingDate1June2016Member" xlink:to="label_VestingDate1June2016Member" xlink:title="label: VestingDate1June2016Member to label_VestingDate1June2016Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_VestingDate1June2016Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_VestingDate1June2016Member" xml:lang="en-US" id="label_VestingDate1June2016Member_2">Vesting on June 1, 2016</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VestingDate1June2016Member" xlink:to="label_VestingDate1June2016Member_2" xlink:title="label: VestingDate1June2016Member to label_VestingDate1June2016Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_VestingDate1June2016Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_VestingDate1June2016Member" xml:lang="en-US" id="label_VestingDate1June2016Member_3">Represents information pertaining to the stock awards vesting on June 1, 2016.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VestingDate1June2016Member" xlink:to="label_VestingDate1June2016Member_3" xlink:title="label: VestingDate1June2016Member to label_VestingDate1June2016Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ExercisePriceDollars36.26Member" xlink:label="ExercisePriceDollars36.26Member" xlink:title="ExercisePriceDollars36.26Member" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollars36.26Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExercisePriceDollars36.26Member" xml:lang="en-US" id="label_ExercisePriceDollars36.26Member">Exercise Price Dollars 36.26 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollars36.26Member" xlink:to="label_ExercisePriceDollars36.26Member" xlink:title="label: ExercisePriceDollars36.26Member to label_ExercisePriceDollars36.26Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollars36.26Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExercisePriceDollars36.26Member" xml:lang="en-US" id="label_ExercisePriceDollars36.26Member_2">$ 36.26 per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollars36.26Member" xlink:to="label_ExercisePriceDollars36.26Member_2" xlink:title="label: ExercisePriceDollars36.26Member to label_ExercisePriceDollars36.26Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollars36.26Member_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExercisePriceDollars36.26Member" xml:lang="en-US" id="label_ExercisePriceDollars36.26Member_3">Represents information pertaining to the stock awards granted at 36.26 dollars per share.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollars36.26Member" xlink:to="label_ExercisePriceDollars36.26Member_3" xlink:title="label: ExercisePriceDollars36.26Member to label_ExercisePriceDollars36.26Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ExercisePriceDollars34.90Member" xlink:label="ExercisePriceDollars34.90Member" xlink:title="ExercisePriceDollars34.90Member" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollars34.90Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExercisePriceDollars34.90Member" xml:lang="en-US" id="label_ExercisePriceDollars34.90Member">$ 34.90 per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollars34.90Member" xlink:to="label_ExercisePriceDollars34.90Member" xlink:title="label: ExercisePriceDollars34.90Member to label_ExercisePriceDollars34.90Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollars34.90Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExercisePriceDollars34.90Member" xml:lang="en-US" id="label_ExercisePriceDollars34.90Member_2">Represents information pertaining to the stock awards granted at 34.90 dollars per share.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollars34.90Member" xlink:to="label_ExercisePriceDollars34.90Member_2" xlink:title="label: ExercisePriceDollars34.90Member to label_ExercisePriceDollars34.90Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExercisePriceDollars34.90Member_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExercisePriceDollars34.90Member" xml:lang="en-US" id="label_ExercisePriceDollars34.90Member_3">Exercise Price Dollars 34.90 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExercisePriceDollars34.90Member" xlink:to="label_ExercisePriceDollars34.90Member_3" xlink:title="label: ExercisePriceDollars34.90Member to label_ExercisePriceDollars34.90Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LeasedPropertiesMember" xlink:label="LeasedPropertiesMember" xlink:title="LeasedPropertiesMember" />
    <link:label xlink:type="resource" xlink:label="label_LeasedPropertiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeasedPropertiesMember" xml:lang="en-US" id="label_LeasedPropertiesMember">Leased Properties [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasedPropertiesMember" xlink:to="label_LeasedPropertiesMember" xlink:title="label: LeasedPropertiesMember to label_LeasedPropertiesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LeasedPropertiesMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeasedPropertiesMember" xml:lang="en-US" id="label_LeasedPropertiesMember_2">leased properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasedPropertiesMember" xlink:to="label_LeasedPropertiesMember_2" xlink:title="label: LeasedPropertiesMember to label_LeasedPropertiesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LeasedPropertiesMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LeasedPropertiesMember" xml:lang="en-US" id="label_LeasedPropertiesMember_3">Represents the information pertaining to leased properties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasedPropertiesMember" xlink:to="label_LeasedPropertiesMember_3" xlink:title="label: LeasedPropertiesMember to label_LeasedPropertiesMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ScheduleOfInvestmentCommitmentsTableTextBlock" xlink:label="ScheduleOfInvestmentCommitmentsTableTextBlock" xlink:title="ScheduleOfInvestmentCommitmentsTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfInvestmentCommitmentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScheduleOfInvestmentCommitmentsTableTextBlock" xml:lang="en-US" id="label_ScheduleOfInvestmentCommitmentsTableTextBlock">Schedule of investment commitments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfInvestmentCommitmentsTableTextBlock" xlink:to="label_ScheduleOfInvestmentCommitmentsTableTextBlock" xlink:title="label: ScheduleOfInvestmentCommitmentsTableTextBlock to label_ScheduleOfInvestmentCommitmentsTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfInvestmentCommitmentsTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ScheduleOfInvestmentCommitmentsTableTextBlock" xml:lang="en-US" id="label_ScheduleOfInvestmentCommitmentsTableTextBlock_2">Tabular disclosure of investment commitments of the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfInvestmentCommitmentsTableTextBlock" xlink:to="label_ScheduleOfInvestmentCommitmentsTableTextBlock_2" xlink:title="label: ScheduleOfInvestmentCommitmentsTableTextBlock to label_ScheduleOfInvestmentCommitmentsTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfInvestmentCommitmentsTableTextBlock_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfInvestmentCommitmentsTableTextBlock" xml:lang="en-US" id="label_ScheduleOfInvestmentCommitmentsTableTextBlock_3">Schedule of Investment Commitments [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfInvestmentCommitmentsTableTextBlock" xlink:to="label_ScheduleOfInvestmentCommitmentsTableTextBlock_3" xlink:title="label: ScheduleOfInvestmentCommitmentsTableTextBlock to label_ScheduleOfInvestmentCommitmentsTableTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_InvestmentCommitmentsAbstract" xlink:label="InvestmentCommitmentsAbstract" xlink:title="InvestmentCommitmentsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentCommitmentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentCommitmentsAbstract" xml:lang="en-US" id="label_InvestmentCommitmentsAbstract">Investment Commitments [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentCommitmentsAbstract" xlink:to="label_InvestmentCommitmentsAbstract" xlink:title="label: InvestmentCommitmentsAbstract to label_InvestmentCommitmentsAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentCommitmentsAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentCommitmentsAbstract" xml:lang="en-US" id="label_InvestmentCommitmentsAbstract_2">Investment Commitment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentCommitmentsAbstract" xlink:to="label_InvestmentCommitmentsAbstract_2" xlink:title="label: InvestmentCommitmentsAbstract to label_InvestmentCommitmentsAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_InvestmentCommitments" xlink:label="InvestmentCommitments" xlink:title="InvestmentCommitments" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentCommitments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentCommitments" xml:lang="en-US" id="label_InvestmentCommitments">Investment Commitment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentCommitments" xlink:to="label_InvestmentCommitments" xlink:title="label: InvestmentCommitments to label_InvestmentCommitments" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentCommitments_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentCommitments" xml:lang="en-US" id="label_InvestmentCommitments_2">Investment Commitments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentCommitments" xlink:to="label_InvestmentCommitments_2" xlink:title="label: InvestmentCommitments to label_InvestmentCommitments" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentCommitments_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InvestmentCommitments" xml:lang="en-US" id="label_InvestmentCommitments_3">Represents the amount of investment commitments of the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentCommitments" xlink:to="label_InvestmentCommitments_3" xlink:title="label: InvestmentCommitments to label_InvestmentCommitments" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_InvestmentCommitmentsAmountFundedDuringPeriod" xlink:label="InvestmentCommitmentsAmountFundedDuringPeriod" xlink:title="InvestmentCommitmentsAmountFundedDuringPeriod" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentCommitmentsAmountFundedDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentCommitmentsAmountFundedDuringPeriod" xml:lang="en-US" id="label_InvestmentCommitmentsAmountFundedDuringPeriod">Investment Commitments Amount Funded During Period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentCommitmentsAmountFundedDuringPeriod" xlink:to="label_InvestmentCommitmentsAmountFundedDuringPeriod" xlink:title="label: InvestmentCommitmentsAmountFundedDuringPeriod to label_InvestmentCommitmentsAmountFundedDuringPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentCommitmentsAmountFundedDuringPeriod_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentCommitmentsAmountFundedDuringPeriod" xml:lang="en-US" id="label_InvestmentCommitmentsAmountFundedDuringPeriod_2">2013 Funding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentCommitmentsAmountFundedDuringPeriod" xlink:to="label_InvestmentCommitmentsAmountFundedDuringPeriod_2" xlink:title="label: InvestmentCommitmentsAmountFundedDuringPeriod to label_InvestmentCommitmentsAmountFundedDuringPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentCommitmentsAmountFundedDuringPeriod_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InvestmentCommitmentsAmountFundedDuringPeriod" xml:lang="en-US" id="label_InvestmentCommitmentsAmountFundedDuringPeriod_3">Represents the amount funded into various investment commitments by the entity during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentCommitmentsAmountFundedDuringPeriod" xlink:to="label_InvestmentCommitmentsAmountFundedDuringPeriod_3" xlink:title="label: InvestmentCommitmentsAmountFundedDuringPeriod to label_InvestmentCommitmentsAmountFundedDuringPeriod" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_InvestmentCommitmentsTotalAmountFunded" xlink:label="InvestmentCommitmentsTotalAmountFunded" xlink:title="InvestmentCommitmentsTotalAmountFunded" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentCommitmentsTotalAmountFunded" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentCommitmentsTotalAmountFunded" xml:lang="en-US" id="label_InvestmentCommitmentsTotalAmountFunded">Investment Commitments Total Amount Funded</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentCommitmentsTotalAmountFunded" xlink:to="label_InvestmentCommitmentsTotalAmountFunded" xlink:title="label: InvestmentCommitmentsTotalAmountFunded to label_InvestmentCommitmentsTotalAmountFunded" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentCommitmentsTotalAmountFunded_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentCommitmentsTotalAmountFunded" xml:lang="en-US" id="label_InvestmentCommitmentsTotalAmountFunded_2">Commitment Funded</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentCommitmentsTotalAmountFunded" xlink:to="label_InvestmentCommitmentsTotalAmountFunded_2" xlink:title="label: InvestmentCommitmentsTotalAmountFunded to label_InvestmentCommitmentsTotalAmountFunded" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentCommitmentsTotalAmountFunded_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InvestmentCommitmentsTotalAmountFunded" xml:lang="en-US" id="label_InvestmentCommitmentsTotalAmountFunded_3">Represents the total amount funded into various investment commitments by the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentCommitmentsTotalAmountFunded" xlink:to="label_InvestmentCommitmentsTotalAmountFunded_3" xlink:title="label: InvestmentCommitmentsTotalAmountFunded to label_InvestmentCommitmentsTotalAmountFunded" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentCommitmentsTotalAmountFunded_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_InvestmentCommitmentsTotalAmountFunded" xml:lang="en-US" id="label_InvestmentCommitmentsTotalAmountFunded_4">Investments funded</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentCommitmentsTotalAmountFunded" xlink:to="label_InvestmentCommitmentsTotalAmountFunded_4" xlink:title="label: InvestmentCommitmentsTotalAmountFunded to label_InvestmentCommitmentsTotalAmountFunded" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_InvestmentCommitmentsRemainingAmount" xlink:label="InvestmentCommitmentsRemainingAmount" xlink:title="InvestmentCommitmentsRemainingAmount" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentCommitmentsRemainingAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentCommitmentsRemainingAmount" xml:lang="en-US" id="label_InvestmentCommitmentsRemainingAmount">Investment Commitments Remaining Amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentCommitmentsRemainingAmount" xlink:to="label_InvestmentCommitmentsRemainingAmount" xlink:title="label: InvestmentCommitmentsRemainingAmount to label_InvestmentCommitmentsRemainingAmount" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentCommitmentsRemainingAmount_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentCommitmentsRemainingAmount" xml:lang="en-US" id="label_InvestmentCommitmentsRemainingAmount_2">Remaining Commitment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentCommitmentsRemainingAmount" xlink:to="label_InvestmentCommitmentsRemainingAmount_2" xlink:title="label: InvestmentCommitmentsRemainingAmount to label_InvestmentCommitmentsRemainingAmount" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentCommitmentsRemainingAmount_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InvestmentCommitmentsRemainingAmount" xml:lang="en-US" id="label_InvestmentCommitmentsRemainingAmount_3">Represents the amount of remaining investment commitments of the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentCommitmentsRemainingAmount" xlink:to="label_InvestmentCommitmentsRemainingAmount_3" xlink:title="label: InvestmentCommitmentsRemainingAmount to label_InvestmentCommitmentsRemainingAmount" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NumberOfPropertiesUnderInvestmentCommitments" xlink:label="NumberOfPropertiesUnderInvestmentCommitments" xlink:title="NumberOfPropertiesUnderInvestmentCommitments" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfPropertiesUnderInvestmentCommitments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfPropertiesUnderInvestmentCommitments" xml:lang="en-US" id="label_NumberOfPropertiesUnderInvestmentCommitments">Number of Properties under Investment Commitments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPropertiesUnderInvestmentCommitments" xlink:to="label_NumberOfPropertiesUnderInvestmentCommitments" xlink:title="label: NumberOfPropertiesUnderInvestmentCommitments to label_NumberOfPropertiesUnderInvestmentCommitments" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfPropertiesUnderInvestmentCommitments_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfPropertiesUnderInvestmentCommitments" xml:lang="en-US" id="label_NumberOfPropertiesUnderInvestmentCommitments_2">Number of Properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPropertiesUnderInvestmentCommitments" xlink:to="label_NumberOfPropertiesUnderInvestmentCommitments_2" xlink:title="label: NumberOfPropertiesUnderInvestmentCommitments to label_NumberOfPropertiesUnderInvestmentCommitments" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfPropertiesUnderInvestmentCommitments_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfPropertiesUnderInvestmentCommitments" xml:lang="en-US" id="label_NumberOfPropertiesUnderInvestmentCommitments_3">Represents the number of properties under investment commitments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPropertiesUnderInvestmentCommitments" xlink:to="label_NumberOfPropertiesUnderInvestmentCommitments_3" xlink:title="label: NumberOfPropertiesUnderInvestmentCommitments to label_NumberOfPropertiesUnderInvestmentCommitments" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_FurnitureAndEquipmentMember" xlink:label="FurnitureAndEquipmentMember" xlink:title="FurnitureAndEquipmentMember" />
    <link:label xlink:type="resource" xlink:label="label_FurnitureAndEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FurnitureAndEquipmentMember" xml:lang="en-US" id="label_FurnitureAndEquipmentMember">Furniture and Equipment [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FurnitureAndEquipmentMember" xlink:to="label_FurnitureAndEquipmentMember" xlink:title="label: FurnitureAndEquipmentMember to label_FurnitureAndEquipmentMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_FurnitureAndEquipmentMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FurnitureAndEquipmentMember" xml:lang="en-US" id="label_FurnitureAndEquipmentMember_2">Furniture and equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FurnitureAndEquipmentMember" xlink:to="label_FurnitureAndEquipmentMember_2" xlink:title="label: FurnitureAndEquipmentMember to label_FurnitureAndEquipmentMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_FurnitureAndEquipmentMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FurnitureAndEquipmentMember" xml:lang="en-US" id="label_FurnitureAndEquipmentMember_3">Represents equipment commonly used in offices and stores that have no permanent connection to the structure of a building or utilities and Tangible personal property used to produce goods and services.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FurnitureAndEquipmentMember" xlink:to="label_FurnitureAndEquipmentMember_3" xlink:title="label: FurnitureAndEquipmentMember to label_FurnitureAndEquipmentMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_IndependentLivingPropertyMember" xlink:label="IndependentLivingPropertyMember" xlink:title="IndependentLivingPropertyMember" />
    <link:label xlink:type="resource" xlink:label="label_IndependentLivingPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IndependentLivingPropertyMember" xml:lang="en-US" id="label_IndependentLivingPropertyMember">Independent Living Property [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndependentLivingPropertyMember" xlink:to="label_IndependentLivingPropertyMember" xlink:title="label: IndependentLivingPropertyMember to label_IndependentLivingPropertyMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_IndependentLivingPropertyMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IndependentLivingPropertyMember" xml:lang="en-US" id="label_IndependentLivingPropertyMember_2">Independent living property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndependentLivingPropertyMember" xlink:to="label_IndependentLivingPropertyMember_2" xlink:title="label: IndependentLivingPropertyMember to label_IndependentLivingPropertyMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_IndependentLivingPropertyMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IndependentLivingPropertyMember" xml:lang="en-US" id="label_IndependentLivingPropertyMember_3">Represents information pertaining to the independent living property.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndependentLivingPropertyMember" xlink:to="label_IndependentLivingPropertyMember_3" xlink:title="label: IndependentLivingPropertyMember to label_IndependentLivingPropertyMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ScheduleOfPrincipalPaymentsOnMortgageLoansTableTextBlock" xlink:label="ScheduleOfPrincipalPaymentsOnMortgageLoansTableTextBlock" xlink:title="ScheduleOfPrincipalPaymentsOnMortgageLoansTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfPrincipalPaymentsOnMortgageLoansTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfPrincipalPaymentsOnMortgageLoansTableTextBlock" xml:lang="en-US" id="label_ScheduleOfPrincipalPaymentsOnMortgageLoansTableTextBlock">Schedule of Principal Payments on Mortgage Loans [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfPrincipalPaymentsOnMortgageLoansTableTextBlock" xlink:to="label_ScheduleOfPrincipalPaymentsOnMortgageLoansTableTextBlock" xlink:title="label: ScheduleOfPrincipalPaymentsOnMortgageLoansTableTextBlock to label_ScheduleOfPrincipalPaymentsOnMortgageLoansTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfPrincipalPaymentsOnMortgageLoansTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScheduleOfPrincipalPaymentsOnMortgageLoansTableTextBlock" xml:lang="en-US" id="label_ScheduleOfPrincipalPaymentsOnMortgageLoansTableTextBlock_2">Scheduled of principal payments on mortgage loans</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfPrincipalPaymentsOnMortgageLoansTableTextBlock" xlink:to="label_ScheduleOfPrincipalPaymentsOnMortgageLoansTableTextBlock_2" xlink:title="label: ScheduleOfPrincipalPaymentsOnMortgageLoansTableTextBlock to label_ScheduleOfPrincipalPaymentsOnMortgageLoansTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfPrincipalPaymentsOnMortgageLoansTableTextBlock_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ScheduleOfPrincipalPaymentsOnMortgageLoansTableTextBlock" xml:lang="en-US" id="label_ScheduleOfPrincipalPaymentsOnMortgageLoansTableTextBlock_3">Tabular disclosure of principal payments on mortgage loans for future years.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfPrincipalPaymentsOnMortgageLoansTableTextBlock" xlink:to="label_ScheduleOfPrincipalPaymentsOnMortgageLoansTableTextBlock_3" xlink:title="label: ScheduleOfPrincipalPaymentsOnMortgageLoansTableTextBlock to label_ScheduleOfPrincipalPaymentsOnMortgageLoansTableTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest" xlink:label="StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest" xlink:title="StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest">Stock Issued During Period to Limited Partners Shares Conversion of Noncontrolling Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest" xlink:to="label_StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest" xlink:title="label: StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest to label_StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest_2">Number of partnership units converted by limited partners</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest" xlink:to="label_StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest_2" xlink:title="label: StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest to label_StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest" xml:lang="en-US" id="label_StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest_3">Number of shares issued during the period as a result of the conversion of non-controlling interests by limited partners exercising their conversion rights.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest" xlink:to="label_StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest_3" xlink:title="label: StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest to label_StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicyTextBlock" xlink:label="ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicyTextBlock" xlink:title="ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicyTextBlock" xml:lang="en-US" id="label_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicyTextBlock">Allowance for Doubtful Accounts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicyTextBlock" xlink:to="label_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicyTextBlock" xlink:title="label: ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicyTextBlock to label_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicyTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicyTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicyTextBlock" xml:lang="en-US" id="label_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicyTextBlock_2">Receivables Trade and Other Accounts Receivable Allowance for Doubtful Accounts [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicyTextBlock" xlink:to="label_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicyTextBlock_2" xlink:title="label: ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicyTextBlock to label_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicyTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicyTextBlock_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicyTextBlock" xml:lang="en-US" id="label_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicyTextBlock_3">Disclosure of the entity's policy to determine the level of its allowance for doubtful accounts for its trade and other accounts receivable balances and when impairments, charge-offs or recoveries are recognized.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicyTextBlock" xlink:to="label_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicyTextBlock_3" xlink:title="label: ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicyTextBlock to label_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicyTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_OtherEquity" xlink:label="OtherEquity" xlink:title="OtherEquity" />
    <link:label xlink:type="resource" xlink:label="label_OtherEquity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherEquity" xml:lang="en-US" id="label_OtherEquity">Other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherEquity" xlink:to="label_OtherEquity" xlink:title="label: OtherEquity to label_OtherEquity" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OtherEquity_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherEquity" xml:lang="en-US" id="label_OtherEquity_2">Other Equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherEquity" xlink:to="label_OtherEquity_2" xlink:title="label: OtherEquity to label_OtherEquity" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OtherEquity_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherEquity" xml:lang="en-US" id="label_OtherEquity_3">Represents other equity including accumulated comprehensive income and amortization of net unrealized holding gains on available-for-sale real estate mortgage investment conduit (REMIC) certificates.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherEquity" xlink:to="label_OtherEquity_3" xlink:title="label: OtherEquity to label_OtherEquity" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAcceleratedVestingInPeriod" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAcceleratedVestingInPeriod" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAcceleratedVestingInPeriod" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAcceleratedVestingInPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAcceleratedVestingInPeriod" xml:lang="en-US" id="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAcceleratedVestingInPeriod">Share Based Compensation Arrangement by Share Based Payment Award Equity Instruments Other than Options Accelerated Vesting in Period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAcceleratedVestingInPeriod" xlink:to="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAcceleratedVestingInPeriod" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAcceleratedVestingInPeriod to label_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAcceleratedVestingInPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAcceleratedVestingInPeriod_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAcceleratedVestingInPeriod" xml:lang="en-US" id="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAcceleratedVestingInPeriod_2">Shares vested due to accelerating</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAcceleratedVestingInPeriod" xlink:to="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAcceleratedVestingInPeriod_2" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAcceleratedVestingInPeriod to label_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAcceleratedVestingInPeriod" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAcceleratedVestingInPeriod_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAcceleratedVestingInPeriod" xml:lang="en-US" id="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAcceleratedVestingInPeriod_3">Represents the additional number of equity based payment instruments excluding stock (or unit) options that vested as a result of an occurrence of an event that accelerates its recognition during the reporting period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAcceleratedVestingInPeriod" xlink:to="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAcceleratedVestingInPeriod_3" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAcceleratedVestingInPeriod to label_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAcceleratedVestingInPeriod" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties" xlink:label="CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties" xlink:title="CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties" />
    <link:label xlink:type="resource" xlink:label="label_CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties" xml:lang="en-US" id="label_CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties">Commitment to Develop Redevelop Renovate and Expand Nursing Properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties" xlink:to="label_CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties" xlink:title="label: CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties to label_CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties" xml:lang="en-US" id="label_CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties_2">Outstanding commitment to develop, re-develop, renovate and expand skilled nursing properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties" xlink:to="label_CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties_2" xlink:title="label: CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties to label_CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties" xml:lang="en-US" id="label_CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties_3">Represents the commitments of the entity to develop, re-develop, renovate and expand nursing properties as on the balance sheet date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties" xlink:to="label_CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties_3" xlink:title="label: CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties to label_CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties" use="optional" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ProvisionForFederalOrStateIncomeTaxes" xlink:label="ProvisionForFederalOrStateIncomeTaxes" xlink:title="ProvisionForFederalOrStateIncomeTaxes" />
    <link:label xlink:type="resource" xlink:label="label_ProvisionForFederalOrStateIncomeTaxes" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProvisionForFederalOrStateIncomeTaxes" xml:lang="en-US" id="label_ProvisionForFederalOrStateIncomeTaxes">Provision for Federal or State Income Taxes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProvisionForFederalOrStateIncomeTaxes" xlink:to="label_ProvisionForFederalOrStateIncomeTaxes" xlink:title="label: ProvisionForFederalOrStateIncomeTaxes to label_ProvisionForFederalOrStateIncomeTaxes" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ProvisionForFederalOrStateIncomeTaxes_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ProvisionForFederalOrStateIncomeTaxes" xml:lang="en-US" id="label_ProvisionForFederalOrStateIncomeTaxes_2">Represents the amount of provision established for federal or state income taxes as of the balance sheet date. As a REIT under Sections 856 through 860 of the Internal Revenue Code of 1982, as amended, the company is generally not taxed on income that is distributed to the stockholders.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProvisionForFederalOrStateIncomeTaxes" xlink:to="label_ProvisionForFederalOrStateIncomeTaxes_2" xlink:title="label: ProvisionForFederalOrStateIncomeTaxes to label_ProvisionForFederalOrStateIncomeTaxes" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ProvisionForFederalOrStateIncomeTaxes_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProvisionForFederalOrStateIncomeTaxes" xml:lang="en-US" id="label_ProvisionForFederalOrStateIncomeTaxes_3">Provision for federal or state income taxes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProvisionForFederalOrStateIncomeTaxes" xlink:to="label_ProvisionForFederalOrStateIncomeTaxes_3" xlink:title="label: ProvisionForFederalOrStateIncomeTaxes to label_ProvisionForFederalOrStateIncomeTaxes" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AssetImpairmentChargesAbstract" xlink:label="AssetImpairmentChargesAbstract" xlink:title="AssetImpairmentChargesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_AssetImpairmentChargesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssetImpairmentChargesAbstract" xml:lang="en-US" id="label_AssetImpairmentChargesAbstract">Impairment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetImpairmentChargesAbstract" xlink:to="label_AssetImpairmentChargesAbstract" xlink:title="label: AssetImpairmentChargesAbstract to label_AssetImpairmentChargesAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="AssetImpairmentCharges" xlink:title="AssetImpairmentCharges" />
    <link:label xlink:type="resource" xlink:label="label_AssetImpairmentCharges" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssetImpairmentCharges" xml:lang="en-US" id="label_AssetImpairmentCharges">Asset Impairment Charges</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetImpairmentCharges" xlink:to="label_AssetImpairmentCharges" xlink:title="label: AssetImpairmentCharges to label_AssetImpairmentCharges" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssetImpairmentCharges_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssetImpairmentCharges" xml:lang="en-US" id="label_AssetImpairmentCharges_2">Impairment charge</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetImpairmentCharges" xlink:to="label_AssetImpairmentCharges_2" xlink:title="label: AssetImpairmentCharges to label_AssetImpairmentCharges" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AssetImpairmentChargesTextBlock" xlink:label="AssetImpairmentChargesTextBlock" xlink:title="AssetImpairmentChargesTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_AssetImpairmentChargesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssetImpairmentChargesTextBlock" xml:lang="en-US" id="label_AssetImpairmentChargesTextBlock">Asset Impairment Charges [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetImpairmentChargesTextBlock" xlink:to="label_AssetImpairmentChargesTextBlock" xlink:title="label: AssetImpairmentChargesTextBlock to label_AssetImpairmentChargesTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssetImpairmentChargesTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssetImpairmentChargesTextBlock" xml:lang="en-US" id="label_AssetImpairmentChargesTextBlock_2">Impairment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetImpairmentChargesTextBlock" xlink:to="label_AssetImpairmentChargesTextBlock_2" xlink:title="label: AssetImpairmentChargesTextBlock to label_AssetImpairmentChargesTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="AssetsAbstract" xlink:title="AssetsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssetsAbstract" xml:lang="en-US" id="label_AssetsAbstract">Assets [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsAbstract" xlink:to="label_AssetsAbstract" xlink:title="label: AssetsAbstract to label_AssetsAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssetsAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssetsAbstract" xml:lang="en-US" id="label_AssetsAbstract_2">ASSETS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsAbstract" xlink:to="label_AssetsAbstract_2" xlink:title="label: AssetsAbstract to label_AssetsAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AssetsNoncurrent" xlink:label="AssetsNoncurrent" xlink:title="AssetsNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_AssetsNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssetsNoncurrent" xml:lang="en-US" id="label_AssetsNoncurrent">Assets, Noncurrent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsNoncurrent" xlink:to="label_AssetsNoncurrent" xlink:title="label: AssetsNoncurrent to label_AssetsNoncurrent" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssetsNoncurrent_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssetsNoncurrent" xml:lang="en-US" id="label_AssetsNoncurrent_2">Non-current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsNoncurrent" xlink:to="label_AssetsNoncurrent_2" xlink:title="label: AssetsNoncurrent to label_AssetsNoncurrent" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="AssetsCurrent" xlink:title="AssetsCurrent" />
    <link:label xlink:type="resource" xlink:label="label_AssetsCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssetsCurrent" xml:lang="en-US" id="label_AssetsCurrent">Assets, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsCurrent" xlink:to="label_AssetsCurrent" xlink:title="label: AssetsCurrent to label_AssetsCurrent" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssetsCurrent_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssetsCurrent" xml:lang="en-US" id="label_AssetsCurrent_2">Current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsCurrent" xlink:to="label_AssetsCurrent_2" xlink:title="label: AssetsCurrent to label_AssetsCurrent" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_Assets" xlink:label="Assets" xlink:title="Assets" />
    <link:label xlink:type="resource" xlink:label="label_Assets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Assets" xml:lang="en-US" id="label_Assets">Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Assets" xlink:to="label_Assets" xlink:title="label: Assets to label_Assets" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Assets_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_Assets" xml:lang="en-US" id="label_Assets_2">Total assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Assets" xlink:to="label_Assets_2" xlink:title="label: Assets to label_Assets" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Assets_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Assets" xml:lang="en-US" id="label_Assets_3">Total assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Assets" xlink:to="label_Assets_3" xlink:title="label: Assets to label_Assets" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AssetsTotalMember" xlink:label="AssetsTotalMember" xlink:title="AssetsTotalMember" />
    <link:label xlink:type="resource" xlink:label="label_AssetsTotalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssetsTotalMember" xml:lang="en-US" id="label_AssetsTotalMember">Assets, Total [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsTotalMember" xlink:to="label_AssetsTotalMember" xlink:title="label: AssetsTotalMember to label_AssetsTotalMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_AssetsTotalMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssetsTotalMember" xml:lang="en-US" id="label_AssetsTotalMember_2">Total assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsTotalMember" xlink:to="label_AssetsTotalMember_2" xlink:title="label: AssetsTotalMember to label_AssetsTotalMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BankruptcyClaimsAmountOfClaimsSettled" xlink:label="BankruptcyClaimsAmountOfClaimsSettled" xlink:title="BankruptcyClaimsAmountOfClaimsSettled" />
    <link:label xlink:type="resource" xlink:label="label_BankruptcyClaimsAmountOfClaimsSettled" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BankruptcyClaimsAmountOfClaimsSettled" xml:lang="en-US" id="label_BankruptcyClaimsAmountOfClaimsSettled">Bankruptcy Claims, Amount of Claims Settled</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankruptcyClaimsAmountOfClaimsSettled" xlink:to="label_BankruptcyClaimsAmountOfClaimsSettled" xlink:title="label: BankruptcyClaimsAmountOfClaimsSettled to label_BankruptcyClaimsAmountOfClaimsSettled" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BankruptcyClaimsAmountOfClaimsSettled_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BankruptcyClaimsAmountOfClaimsSettled" xml:lang="en-US" id="label_BankruptcyClaimsAmountOfClaimsSettled_2">Bankruptcy settlement claim received</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankruptcyClaimsAmountOfClaimsSettled" xlink:to="label_BankruptcyClaimsAmountOfClaimsSettled_2" xlink:title="label: BankruptcyClaimsAmountOfClaimsSettled to label_BankruptcyClaimsAmountOfClaimsSettled" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:label="BasisOfAccountingPolicyPolicyTextBlock" xlink:title="BasisOfAccountingPolicyPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_BasisOfAccountingPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BasisOfAccountingPolicyPolicyTextBlock" xml:lang="en-US" id="label_BasisOfAccountingPolicyPolicyTextBlock">Basis of Accounting, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BasisOfAccountingPolicyPolicyTextBlock" xlink:to="label_BasisOfAccountingPolicyPolicyTextBlock" xlink:title="label: BasisOfAccountingPolicyPolicyTextBlock to label_BasisOfAccountingPolicyPolicyTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BasisOfAccountingPolicyPolicyTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BasisOfAccountingPolicyPolicyTextBlock" xml:lang="en-US" id="label_BasisOfAccountingPolicyPolicyTextBlock_2">Basis of Presentation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BasisOfAccountingPolicyPolicyTextBlock" xlink:to="label_BasisOfAccountingPolicyPolicyTextBlock_2" xlink:title="label: BasisOfAccountingPolicyPolicyTextBlock to label_BasisOfAccountingPolicyPolicyTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BuildingImprovementsMember" xlink:label="BuildingImprovementsMember" xlink:title="BuildingImprovementsMember" />
    <link:label xlink:type="resource" xlink:label="label_BuildingImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BuildingImprovementsMember" xml:lang="en-US" id="label_BuildingImprovementsMember">Building Improvements [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BuildingImprovementsMember" xlink:to="label_BuildingImprovementsMember" xlink:title="label: BuildingImprovementsMember to label_BuildingImprovementsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BuildingImprovementsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BuildingImprovementsMember" xml:lang="en-US" id="label_BuildingImprovementsMember_2">Building improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BuildingImprovementsMember" xlink:to="label_BuildingImprovementsMember_2" xlink:title="label: BuildingImprovementsMember to label_BuildingImprovementsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BuildingMember" xlink:label="BuildingMember" xlink:title="BuildingMember" />
    <link:label xlink:type="resource" xlink:label="label_BuildingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BuildingMember" xml:lang="en-US" id="label_BuildingMember">Building [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BuildingMember" xlink:to="label_BuildingMember" xlink:title="label: BuildingMember to label_BuildingMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BuildingMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BuildingMember" xml:lang="en-US" id="label_BuildingMember_2">Buildings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BuildingMember" xlink:to="label_BuildingMember_2" xlink:title="label: BuildingMember to label_BuildingMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BusinessAcquisitionCostOfAcquiredEntityCashPaid" xlink:label="BusinessAcquisitionCostOfAcquiredEntityCashPaid" xlink:title="BusinessAcquisitionCostOfAcquiredEntityCashPaid" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionCostOfAcquiredEntityCashPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BusinessAcquisitionCostOfAcquiredEntityCashPaid" xml:lang="en-US" id="label_BusinessAcquisitionCostOfAcquiredEntityCashPaid">Business Acquisition, Cost of Acquired Entity, Cash Paid</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionCostOfAcquiredEntityCashPaid" xlink:to="label_BusinessAcquisitionCostOfAcquiredEntityCashPaid" xlink:title="label: BusinessAcquisitionCostOfAcquiredEntityCashPaid to label_BusinessAcquisitionCostOfAcquiredEntityCashPaid" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionCostOfAcquiredEntityCashPaid_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BusinessAcquisitionCostOfAcquiredEntityCashPaid" xml:lang="en-US" id="label_BusinessAcquisitionCostOfAcquiredEntityCashPaid_2">Purchase Price</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionCostOfAcquiredEntityCashPaid" xlink:to="label_BusinessAcquisitionCostOfAcquiredEntityCashPaid_2" xlink:title="label: BusinessAcquisitionCostOfAcquiredEntityCashPaid to label_BusinessAcquisitionCostOfAcquiredEntityCashPaid" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionCostOfAcquiredEntityCashPaid_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_BusinessAcquisitionCostOfAcquiredEntityCashPaid" xml:lang="en-US" id="label_BusinessAcquisitionCostOfAcquiredEntityCashPaid_3">Cash paid for acquisition of properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionCostOfAcquiredEntityCashPaid" xlink:to="label_BusinessAcquisitionCostOfAcquiredEntityCashPaid_3" xlink:title="label: BusinessAcquisitionCostOfAcquiredEntityCashPaid to label_BusinessAcquisitionCostOfAcquiredEntityCashPaid" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BusinessAcquisitionsProFormaRevenue" xlink:label="BusinessAcquisitionsProFormaRevenue" xlink:title="BusinessAcquisitionsProFormaRevenue" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionsProFormaRevenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BusinessAcquisitionsProFormaRevenue" xml:lang="en-US" id="label_BusinessAcquisitionsProFormaRevenue">Business Acquisition, Pro Forma Revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionsProFormaRevenue" xlink:to="label_BusinessAcquisitionsProFormaRevenue" xlink:title="label: BusinessAcquisitionsProFormaRevenue to label_BusinessAcquisitionsProFormaRevenue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionsProFormaRevenue_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BusinessAcquisitionsProFormaRevenue" xml:lang="en-US" id="label_BusinessAcquisitionsProFormaRevenue_2">Acquisition proforma revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionsProFormaRevenue" xlink:to="label_BusinessAcquisitionsProFormaRevenue_2" xlink:title="label: BusinessAcquisitionsProFormaRevenue to label_BusinessAcquisitionsProFormaRevenue" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BusinessAcquisitionProFormaInformationTextBlock" xlink:label="BusinessAcquisitionProFormaInformationTextBlock" xlink:title="BusinessAcquisitionProFormaInformationTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionProFormaInformationTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BusinessAcquisitionProFormaInformationTextBlock" xml:lang="en-US" id="label_BusinessAcquisitionProFormaInformationTextBlock">Business Acquisition, Pro Forma Information [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionProFormaInformationTextBlock" xlink:to="label_BusinessAcquisitionProFormaInformationTextBlock" xlink:title="label: BusinessAcquisitionProFormaInformationTextBlock to label_BusinessAcquisitionProFormaInformationTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionProFormaInformationTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BusinessAcquisitionProFormaInformationTextBlock" xml:lang="en-US" id="label_BusinessAcquisitionProFormaInformationTextBlock_2">Schedule of pro forma consolidated results of operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionProFormaInformationTextBlock" xlink:to="label_BusinessAcquisitionProFormaInformationTextBlock_2" xlink:title="label: BusinessAcquisitionProFormaInformationTextBlock to label_BusinessAcquisitionProFormaInformationTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss" xlink:label="BusinessAcquisitionsProFormaNetIncomeLoss" xlink:title="BusinessAcquisitionsProFormaNetIncomeLoss" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionsProFormaNetIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BusinessAcquisitionsProFormaNetIncomeLoss" xml:lang="en-US" id="label_BusinessAcquisitionsProFormaNetIncomeLoss">Business Acquisition, Pro Forma Net Income (Loss)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionsProFormaNetIncomeLoss" xlink:to="label_BusinessAcquisitionsProFormaNetIncomeLoss" xlink:title="label: BusinessAcquisitionsProFormaNetIncomeLoss to label_BusinessAcquisitionsProFormaNetIncomeLoss" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionsProFormaNetIncomeLoss_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BusinessAcquisitionsProFormaNetIncomeLoss" xml:lang="en-US" id="label_BusinessAcquisitionsProFormaNetIncomeLoss_2">Acquisition proforma net income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionsProFormaNetIncomeLoss" xlink:to="label_BusinessAcquisitionsProFormaNetIncomeLoss_2" xlink:title="label: BusinessAcquisitionsProFormaNetIncomeLoss to label_BusinessAcquisitionsProFormaNetIncomeLoss" use="optional" />
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    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" xml:lang="en-US" id="label_BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_2">Transaction Costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" xlink:to="label_BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_2" xlink:title="label: BusinessAcquisitionCostOfAcquiredEntityTransactionCosts to label_BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" use="optional" />
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    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BusinessAcquisitionLineItems" xml:lang="en-US" id="label_BusinessAcquisitionLineItems">Business Acquisition [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionLineItems" xlink:to="label_BusinessAcquisitionLineItems" xlink:title="label: BusinessAcquisitionLineItems to label_BusinessAcquisitionLineItems" use="optional" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice" xlink:label="BusinessAcquisitionCostOfAcquiredEntityPurchasePrice" xlink:title="BusinessAcquisitionCostOfAcquiredEntityPurchasePrice" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice" xml:lang="en-US" id="label_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice">Business Acquisition, Cost of Acquired Entity, Purchase Price</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionCostOfAcquiredEntityPurchasePrice" xlink:to="label_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice" xlink:title="label: BusinessAcquisitionCostOfAcquiredEntityPurchasePrice to label_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice" xml:lang="en-US" id="label_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice_2">Total Acquisition Costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionCostOfAcquiredEntityPurchasePrice" xlink:to="label_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice_2" xlink:title="label: BusinessAcquisitionCostOfAcquiredEntityPurchasePrice to label_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice" xml:lang="en-US" id="label_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice_3">Total acquisition costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionCostOfAcquiredEntityPurchasePrice" xlink:to="label_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice_3" xlink:title="label: BusinessAcquisitionCostOfAcquiredEntityPurchasePrice to label_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BusinessCombinationAcquisitionRelatedCosts" xlink:label="BusinessCombinationAcquisitionRelatedCosts" xlink:title="BusinessCombinationAcquisitionRelatedCosts" />
    <link:label xlink:type="resource" xlink:label="label_BusinessCombinationAcquisitionRelatedCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BusinessCombinationAcquisitionRelatedCosts" xml:lang="en-US" id="label_BusinessCombinationAcquisitionRelatedCosts">Business Combination, Acquisition Related Costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessCombinationAcquisitionRelatedCosts" xlink:to="label_BusinessCombinationAcquisitionRelatedCosts" xlink:title="label: BusinessCombinationAcquisitionRelatedCosts to label_BusinessCombinationAcquisitionRelatedCosts" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_BusinessCombinationAcquisitionRelatedCosts_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BusinessCombinationAcquisitionRelatedCosts" xml:lang="en-US" id="label_BusinessCombinationAcquisitionRelatedCosts_2">Acquisition costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessCombinationAcquisitionRelatedCosts" xlink:to="label_BusinessCombinationAcquisitionRelatedCosts_2" xlink:title="label: BusinessCombinationAcquisitionRelatedCosts to label_BusinessCombinationAcquisitionRelatedCosts" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:label="CarryingReportedAmountFairValueDisclosureMember" xlink:title="CarryingReportedAmountFairValueDisclosureMember" />
    <link:label xlink:type="resource" xlink:label="label_CarryingReportedAmountFairValueDisclosureMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CarryingReportedAmountFairValueDisclosureMember" xml:lang="en-US" id="label_CarryingReportedAmountFairValueDisclosureMember">Carrying (Reported) Amount, Fair Value Disclosure [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CarryingReportedAmountFairValueDisclosureMember" xlink:to="label_CarryingReportedAmountFairValueDisclosureMember" xlink:title="label: CarryingReportedAmountFairValueDisclosureMember to label_CarryingReportedAmountFairValueDisclosureMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CarryingReportedAmountFairValueDisclosureMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CarryingReportedAmountFairValueDisclosureMember" xml:lang="en-US" id="label_CarryingReportedAmountFairValueDisclosureMember_2">Carrying Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CarryingReportedAmountFairValueDisclosureMember" xlink:to="label_CarryingReportedAmountFairValueDisclosureMember_2" xlink:title="label: CarryingReportedAmountFairValueDisclosureMember to label_CarryingReportedAmountFairValueDisclosureMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="CashAndCashEquivalentsAtCarryingValue" xlink:title="CashAndCashEquivalentsAtCarryingValue" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashAndCashEquivalentsAtCarryingValue" xml:lang="en-US" id="label_CashAndCashEquivalentsAtCarryingValue">Cash and Cash Equivalents, at Carrying Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsAtCarryingValue" xlink:to="label_CashAndCashEquivalentsAtCarryingValue" xlink:title="label: CashAndCashEquivalentsAtCarryingValue to label_CashAndCashEquivalentsAtCarryingValue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsAtCarryingValue_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashAndCashEquivalentsAtCarryingValue" xml:lang="en-US" id="label_CashAndCashEquivalentsAtCarryingValue_2">Cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsAtCarryingValue" xlink:to="label_CashAndCashEquivalentsAtCarryingValue_2" xlink:title="label: CashAndCashEquivalentsAtCarryingValue to label_CashAndCashEquivalentsAtCarryingValue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsAtCarryingValue_3" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_CashAndCashEquivalentsAtCarryingValue" xml:lang="en-US" id="label_CashAndCashEquivalentsAtCarryingValue_3">Cash and cash equivalents, beginning of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsAtCarryingValue" xlink:to="label_CashAndCashEquivalentsAtCarryingValue_3" xlink:title="label: CashAndCashEquivalentsAtCarryingValue to label_CashAndCashEquivalentsAtCarryingValue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsAtCarryingValue_4" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_CashAndCashEquivalentsAtCarryingValue" xml:lang="en-US" id="label_CashAndCashEquivalentsAtCarryingValue_4">Cash and cash equivalents, end of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsAtCarryingValue" xlink:to="label_CashAndCashEquivalentsAtCarryingValue_4" xlink:title="label: CashAndCashEquivalentsAtCarryingValue to label_CashAndCashEquivalentsAtCarryingValue" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:label="CashAndCashEquivalentsPolicyTextBlock" xlink:title="CashAndCashEquivalentsPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashAndCashEquivalentsPolicyTextBlock" xml:lang="en-US" id="label_CashAndCashEquivalentsPolicyTextBlock">Cash and Cash Equivalents, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsPolicyTextBlock" xlink:to="label_CashAndCashEquivalentsPolicyTextBlock" xlink:title="label: CashAndCashEquivalentsPolicyTextBlock to label_CashAndCashEquivalentsPolicyTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsPolicyTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashAndCashEquivalentsPolicyTextBlock" xml:lang="en-US" id="label_CashAndCashEquivalentsPolicyTextBlock_2">Cash Equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsPolicyTextBlock" xlink:to="label_CashAndCashEquivalentsPolicyTextBlock_2" xlink:title="label: CashAndCashEquivalentsPolicyTextBlock to label_CashAndCashEquivalentsPolicyTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:title="CashAndCashEquivalentsPeriodIncreaseDecrease" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashAndCashEquivalentsPeriodIncreaseDecrease" xml:lang="en-US" id="label_CashAndCashEquivalentsPeriodIncreaseDecrease">Cash and Cash Equivalents, Period Increase (Decrease)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="label_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:title="label: CashAndCashEquivalentsPeriodIncreaseDecrease to label_CashAndCashEquivalentsPeriodIncreaseDecrease" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsPeriodIncreaseDecrease_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_CashAndCashEquivalentsPeriodIncreaseDecrease" xml:lang="en-US" id="label_CashAndCashEquivalentsPeriodIncreaseDecrease_2">Increase (decrease) in cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="label_CashAndCashEquivalentsPeriodIncreaseDecrease_2" xlink:title="label: CashAndCashEquivalentsPeriodIncreaseDecrease to label_CashAndCashEquivalentsPeriodIncreaseDecrease" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashAndCashEquivalentsAbstract" xlink:label="CashAndCashEquivalentsAbstract" xlink:title="CashAndCashEquivalentsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashAndCashEquivalentsAbstract" xml:lang="en-US" id="label_CashAndCashEquivalentsAbstract">Cash and Cash Equivalents [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsAbstract" xlink:to="label_CashAndCashEquivalentsAbstract" xlink:title="label: CashAndCashEquivalentsAbstract to label_CashAndCashEquivalentsAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashAndCashEquivalentsAbstract" xml:lang="en-US" id="label_CashAndCashEquivalentsAbstract_2">Cash Equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsAbstract" xlink:to="label_CashAndCashEquivalentsAbstract_2" xlink:title="label: CashAndCashEquivalentsAbstract to label_CashAndCashEquivalentsAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:label="CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:title="CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xml:lang="en-US" id="label_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract">Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:to="label_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:title="label: CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract to label_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xml:lang="en-US" id="label_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_2">Non-cash investing and financing transactions:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:to="label_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_2" xlink:title="label: CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract to label_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashFlowSupplementalDisclosuresTextBlock" xlink:label="CashFlowSupplementalDisclosuresTextBlock" xlink:title="CashFlowSupplementalDisclosuresTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowSupplementalDisclosuresTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashFlowSupplementalDisclosuresTextBlock" xml:lang="en-US" id="label_CashFlowSupplementalDisclosuresTextBlock">Cash Flow, Supplemental Disclosures [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowSupplementalDisclosuresTextBlock" xlink:to="label_CashFlowSupplementalDisclosuresTextBlock" xlink:title="label: CashFlowSupplementalDisclosuresTextBlock to label_CashFlowSupplementalDisclosuresTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowSupplementalDisclosuresTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashFlowSupplementalDisclosuresTextBlock" xml:lang="en-US" id="label_CashFlowSupplementalDisclosuresTextBlock_2">Supplemental Cash Flow Information</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowSupplementalDisclosuresTextBlock" xlink:to="label_CashFlowSupplementalDisclosuresTextBlock_2" xlink:title="label: CashFlowSupplementalDisclosuresTextBlock to label_CashFlowSupplementalDisclosuresTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ClassOfStockLineItems" xlink:label="ClassOfStockLineItems" xlink:title="ClassOfStockLineItems" />
    <link:label xlink:type="resource" xlink:label="label_ClassOfStockLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ClassOfStockLineItems" xml:lang="en-US" id="label_ClassOfStockLineItems">Class of Stock [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassOfStockLineItems" xlink:to="label_ClassOfStockLineItems" xlink:title="label: ClassOfStockLineItems to label_ClassOfStockLineItems" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ClassOfStockLineItems_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ClassOfStockLineItems" xml:lang="en-US" id="label_ClassOfStockLineItems_2">Equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassOfStockLineItems" xlink:to="label_ClassOfStockLineItems_2" xlink:title="label: ClassOfStockLineItems to label_ClassOfStockLineItems" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="ClassOfStockDomain" xlink:title="ClassOfStockDomain" />
    <link:label xlink:type="resource" xlink:label="label_ClassOfStockDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ClassOfStockDomain" xml:lang="en-US" id="label_ClassOfStockDomain">Class of Stock [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassOfStockDomain" xlink:to="label_ClassOfStockDomain" xlink:title="label: ClassOfStockDomain to label_ClassOfStockDomain" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:label="CommitmentsAndContingenciesDisclosureTextBlock" xlink:title="CommitmentsAndContingenciesDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_CommitmentsAndContingenciesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommitmentsAndContingenciesDisclosureTextBlock" xml:lang="en-US" id="label_CommitmentsAndContingenciesDisclosureTextBlock">Commitments and Contingencies Disclosure [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommitmentsAndContingenciesDisclosureTextBlock" xlink:to="label_CommitmentsAndContingenciesDisclosureTextBlock" xlink:title="label: CommitmentsAndContingenciesDisclosureTextBlock to label_CommitmentsAndContingenciesDisclosureTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommitmentsAndContingenciesDisclosureTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommitmentsAndContingenciesDisclosureTextBlock" xml:lang="en-US" id="label_CommitmentsAndContingenciesDisclosureTextBlock_2">Commitments and Contingencies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommitmentsAndContingenciesDisclosureTextBlock" xlink:to="label_CommitmentsAndContingenciesDisclosureTextBlock_2" xlink:title="label: CommitmentsAndContingenciesDisclosureTextBlock to label_CommitmentsAndContingenciesDisclosureTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:label="CommitmentsAndContingenciesDisclosureAbstract" xlink:title="CommitmentsAndContingenciesDisclosureAbstract" />
    <link:label xlink:type="resource" xlink:label="label_CommitmentsAndContingenciesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommitmentsAndContingenciesDisclosureAbstract" xml:lang="en-US" id="label_CommitmentsAndContingenciesDisclosureAbstract">Commitments and Contingencies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommitmentsAndContingenciesDisclosureAbstract" xlink:to="label_CommitmentsAndContingenciesDisclosureAbstract" xlink:title="label: CommitmentsAndContingenciesDisclosureAbstract to label_CommitmentsAndContingenciesDisclosureAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockMember" xlink:label="CommonStockMember" xlink:title="CommonStockMember" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockMember" xml:lang="en-US" id="label_CommonStockMember">Common Stock [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockMember" xlink:to="label_CommonStockMember" xlink:title="label: CommonStockMember to label_CommonStockMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockMember" xml:lang="en-US" id="label_CommonStockMember_2">Common Stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockMember" xlink:to="label_CommonStockMember_2" xlink:title="label: CommonStockMember to label_CommonStockMember" use="optional" />
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    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockSharesOutstanding" xml:lang="en-US" id="label_CommonStockSharesOutstanding">Common Stock, Shares, Outstanding</link:label>
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    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesOutstanding_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockSharesOutstanding" xml:lang="en-US" id="label_CommonStockSharesOutstanding_2">Common stock, shares outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesOutstanding" xlink:to="label_CommonStockSharesOutstanding_2" xlink:title="label: CommonStockSharesOutstanding to label_CommonStockSharesOutstanding" use="optional" />
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    <link:label xlink:type="resource" xlink:label="label_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockValue" xml:lang="en-US" id="label_CommonStockValue">Common Stock, Value, Issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockValue" xlink:to="label_CommonStockValue" xlink:title="label: CommonStockValue to label_CommonStockValue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockValue_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_CommonStockValue" xml:lang="en-US" id="label_CommonStockValue_2">Common stock: $0.01 par value; 60,000 shares authorized; shares issued and outstanding: 2013 - 30,713; 2012 - 30,544</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="CommonStockSharesIssued" xlink:title="CommonStockSharesIssued" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockSharesIssued" xml:lang="en-US" id="label_CommonStockSharesIssued">Common Stock, Shares, Issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesIssued" xlink:to="label_CommonStockSharesIssued" xlink:title="label: CommonStockSharesIssued to label_CommonStockSharesIssued" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesIssued_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockSharesIssued" xml:lang="en-US" id="label_CommonStockSharesIssued_2">Common stock, shares issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesIssued" xlink:to="label_CommonStockSharesIssued_2" xlink:title="label: CommonStockSharesIssued to label_CommonStockSharesIssued" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockDividendsPerShareDeclared" xlink:label="CommonStockDividendsPerShareDeclared" xlink:title="CommonStockDividendsPerShareDeclared" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockDividendsPerShareDeclared" xml:lang="en-US" id="label_CommonStockDividendsPerShareDeclared">Common Stock, Dividends, Per Share, Declared</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareDeclared" xlink:to="label_CommonStockDividendsPerShareDeclared" xlink:title="label: CommonStockDividendsPerShareDeclared to label_CommonStockDividendsPerShareDeclared" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsPerShareDeclared_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockDividendsPerShareDeclared" xml:lang="en-US" id="label_CommonStockDividendsPerShareDeclared_2">Dividends per share declared (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareDeclared" xlink:to="label_CommonStockDividendsPerShareDeclared_2" xlink:title="label: CommonStockDividendsPerShareDeclared to label_CommonStockDividendsPerShareDeclared" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsPerShareDeclared_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_CommonStockDividendsPerShareDeclared" xml:lang="en-US" id="label_CommonStockDividendsPerShareDeclared_3">Cash dividend per common share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareDeclared" xlink:to="label_CommonStockDividendsPerShareDeclared_3" xlink:title="label: CommonStockDividendsPerShareDeclared to label_CommonStockDividendsPerShareDeclared" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsPerShareDeclared_4" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_CommonStockDividendsPerShareDeclared" xml:lang="en-US" id="label_CommonStockDividendsPerShareDeclared_4">Dividend declared per share per month</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareDeclared" xlink:to="label_CommonStockDividendsPerShareDeclared_4" xlink:title="label: CommonStockDividendsPerShareDeclared to label_CommonStockDividendsPerShareDeclared" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="CommonStockParOrStatedValuePerShare" xlink:title="CommonStockParOrStatedValuePerShare" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockParOrStatedValuePerShare" xml:lang="en-US" id="label_CommonStockParOrStatedValuePerShare">Common Stock, Par or Stated Value Per Share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockParOrStatedValuePerShare" xlink:to="label_CommonStockParOrStatedValuePerShare" xlink:title="label: CommonStockParOrStatedValuePerShare to label_CommonStockParOrStatedValuePerShare" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockParOrStatedValuePerShare_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockParOrStatedValuePerShare" xml:lang="en-US" id="label_CommonStockParOrStatedValuePerShare_2">Common stock, par value (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockParOrStatedValuePerShare" xlink:to="label_CommonStockParOrStatedValuePerShare_2" xlink:title="label: CommonStockParOrStatedValuePerShare to label_CommonStockParOrStatedValuePerShare" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="CommonStockSharesAuthorized" xlink:title="CommonStockSharesAuthorized" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockSharesAuthorized" xml:lang="en-US" id="label_CommonStockSharesAuthorized">Common Stock, Shares Authorized</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesAuthorized" xlink:to="label_CommonStockSharesAuthorized" xlink:title="label: CommonStockSharesAuthorized to label_CommonStockSharesAuthorized" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesAuthorized_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockSharesAuthorized" xml:lang="en-US" id="label_CommonStockSharesAuthorized_2">Common stock, shares authorized</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesAuthorized" xlink:to="label_CommonStockSharesAuthorized_2" xlink:title="label: CommonStockSharesAuthorized to label_CommonStockSharesAuthorized" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockCapitalSharesReservedForFutureIssuance" xlink:label="CommonStockCapitalSharesReservedForFutureIssuance" xlink:title="CommonStockCapitalSharesReservedForFutureIssuance" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockCapitalSharesReservedForFutureIssuance" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockCapitalSharesReservedForFutureIssuance" xml:lang="en-US" id="label_CommonStockCapitalSharesReservedForFutureIssuance">Common Stock, Capital Shares Reserved for Future Issuance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockCapitalSharesReservedForFutureIssuance" xlink:to="label_CommonStockCapitalSharesReservedForFutureIssuance" xlink:title="label: CommonStockCapitalSharesReservedForFutureIssuance to label_CommonStockCapitalSharesReservedForFutureIssuance" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockCapitalSharesReservedForFutureIssuance_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockCapitalSharesReservedForFutureIssuance" xml:lang="en-US" id="label_CommonStockCapitalSharesReservedForFutureIssuance_2">Total shares reserved for issuance of common stock related to the conversion of preferred stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockCapitalSharesReservedForFutureIssuance" xlink:to="label_CommonStockCapitalSharesReservedForFutureIssuance_2" xlink:title="label: CommonStockCapitalSharesReservedForFutureIssuance to label_CommonStockCapitalSharesReservedForFutureIssuance" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockDividendsPerShareCashPaid" xlink:label="CommonStockDividendsPerShareCashPaid" xlink:title="CommonStockDividendsPerShareCashPaid" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsPerShareCashPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockDividendsPerShareCashPaid" xml:lang="en-US" id="label_CommonStockDividendsPerShareCashPaid">Common Stock, Dividends, Per Share, Cash Paid</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareCashPaid" xlink:to="label_CommonStockDividendsPerShareCashPaid" xlink:title="label: CommonStockDividendsPerShareCashPaid to label_CommonStockDividendsPerShareCashPaid" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsPerShareCashPaid_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockDividendsPerShareCashPaid" xml:lang="en-US" id="label_CommonStockDividendsPerShareCashPaid_2">Common stock cash distributions (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareCashPaid" xlink:to="label_CommonStockDividendsPerShareCashPaid_2" xlink:title="label: CommonStockDividendsPerShareCashPaid to label_CommonStockDividendsPerShareCashPaid" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsPerShareCashPaid_3" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_CommonStockDividendsPerShareCashPaid" xml:lang="en-US" id="label_CommonStockDividendsPerShareCashPaid_3">Total</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareCashPaid" xlink:to="label_CommonStockDividendsPerShareCashPaid_3" xlink:title="label: CommonStockDividendsPerShareCashPaid to label_CommonStockDividendsPerShareCashPaid" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsPerShareCashPaid_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_CommonStockDividendsPerShareCashPaid" xml:lang="en-US" id="label_CommonStockDividendsPerShareCashPaid_4">Dividend per share paid (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareCashPaid" xlink:to="label_CommonStockDividendsPerShareCashPaid_4" xlink:title="label: CommonStockDividendsPerShareCashPaid to label_CommonStockDividendsPerShareCashPaid" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="ComprehensiveIncomeNetOfTax" xlink:title="ComprehensiveIncomeNetOfTax" />
    <link:label xlink:type="resource" xlink:label="label_ComprehensiveIncomeNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ComprehensiveIncomeNetOfTax" xml:lang="en-US" id="label_ComprehensiveIncomeNetOfTax">Comprehensive Income (Loss), Net of Tax, Attributable to Parent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncomeNetOfTax" xlink:to="label_ComprehensiveIncomeNetOfTax" xlink:title="label: ComprehensiveIncomeNetOfTax to label_ComprehensiveIncomeNetOfTax" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ComprehensiveIncomeNetOfTax_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ComprehensiveIncomeNetOfTax" xml:lang="en-US" id="label_ComprehensiveIncomeNetOfTax_2">Comprehensive income attributed to LTC Properties, Inc.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncomeNetOfTax" xlink:to="label_ComprehensiveIncomeNetOfTax_2" xlink:title="label: ComprehensiveIncomeNetOfTax to label_ComprehensiveIncomeNetOfTax" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:label="ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:title="ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" />
    <link:label xlink:type="resource" xlink:label="label_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xml:lang="en-US" id="label_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest">Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:to="label_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:title="label: ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest to label_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xml:lang="en-US" id="label_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_2">Comprehensive income allocated to non-controlling interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:to="label_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_2" xlink:title="label: ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest to label_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:label="ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:title="ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:to="label_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:title="label: ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest to label_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xml:lang="en-US" id="label_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_2">Comprehensive income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:to="label_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_2" xlink:title="label: ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest to label_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ComputerEquipmentMember" xlink:label="ComputerEquipmentMember" xlink:title="ComputerEquipmentMember" />
    <link:label xlink:type="resource" xlink:label="label_ComputerEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ComputerEquipmentMember" xml:lang="en-US" id="label_ComputerEquipmentMember">Computer Equipment [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComputerEquipmentMember" xlink:to="label_ComputerEquipmentMember" xlink:title="label: ComputerEquipmentMember to label_ComputerEquipmentMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ComputerEquipmentMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ComputerEquipmentMember" xml:lang="en-US" id="label_ComputerEquipmentMember_2">Computers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComputerEquipmentMember" xlink:to="label_ComputerEquipmentMember_2" xlink:title="label: ComputerEquipmentMember to label_ComputerEquipmentMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ConcentrationRiskTypeDomain" xlink:label="ConcentrationRiskTypeDomain" xlink:title="ConcentrationRiskTypeDomain" />
    <link:label xlink:type="resource" xlink:label="label_ConcentrationRiskTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConcentrationRiskTypeDomain" xml:lang="en-US" id="label_ConcentrationRiskTypeDomain">Concentration Risk Type [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationRiskTypeDomain" xlink:to="label_ConcentrationRiskTypeDomain" xlink:title="label: ConcentrationRiskTypeDomain to label_ConcentrationRiskTypeDomain" use="optional" />
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    <link:label xlink:type="resource" xlink:label="label_ConcentrationRiskLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConcentrationRiskLineItems" xml:lang="en-US" id="label_ConcentrationRiskLineItems">Concentration Risk [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationRiskLineItems" xlink:to="label_ConcentrationRiskLineItems" xlink:title="label: ConcentrationRiskLineItems to label_ConcentrationRiskLineItems" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ConcentrationRiskLineItems_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConcentrationRiskLineItems" xml:lang="en-US" id="label_ConcentrationRiskLineItems_2">Financial information</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationRiskLineItems" xlink:to="label_ConcentrationRiskLineItems_2" xlink:title="label: ConcentrationRiskLineItems to label_ConcentrationRiskLineItems" use="optional" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationRiskLineItems" xlink:to="label_ConcentrationRiskLineItems_3" xlink:title="label: ConcentrationRiskLineItems to label_ConcentrationRiskLineItems" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ConcentrationRiskBenchmarkDomain" xlink:label="ConcentrationRiskBenchmarkDomain" xlink:title="ConcentrationRiskBenchmarkDomain" />
    <link:label xlink:type="resource" xlink:label="label_ConcentrationRiskBenchmarkDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConcentrationRiskBenchmarkDomain" xml:lang="en-US" id="label_ConcentrationRiskBenchmarkDomain">Concentration Risk Benchmark [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationRiskBenchmarkDomain" xlink:to="label_ConcentrationRiskBenchmarkDomain" xlink:title="label: ConcentrationRiskBenchmarkDomain to label_ConcentrationRiskBenchmarkDomain" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ConcentrationRiskTable" xlink:label="ConcentrationRiskTable" xlink:title="ConcentrationRiskTable" />
    <link:label xlink:type="resource" xlink:label="label_ConcentrationRiskTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConcentrationRiskTable" xml:lang="en-US" id="label_ConcentrationRiskTable">Concentration Risk [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationRiskTable" xlink:to="label_ConcentrationRiskTable" xlink:title="label: ConcentrationRiskTable to label_ConcentrationRiskTable" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:label="ConcentrationRiskByBenchmarkAxis" xlink:title="ConcentrationRiskByBenchmarkAxis" />
    <link:label xlink:type="resource" xlink:label="label_ConcentrationRiskByBenchmarkAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConcentrationRiskByBenchmarkAxis" xml:lang="en-US" id="label_ConcentrationRiskByBenchmarkAxis">Concentration Risk Benchmark [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationRiskByBenchmarkAxis" xlink:to="label_ConcentrationRiskByBenchmarkAxis" xlink:title="label: ConcentrationRiskByBenchmarkAxis to label_ConcentrationRiskByBenchmarkAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ConcentrationRiskByTypeAxis" xlink:label="ConcentrationRiskByTypeAxis" xlink:title="ConcentrationRiskByTypeAxis" />
    <link:label xlink:type="resource" xlink:label="label_ConcentrationRiskByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConcentrationRiskByTypeAxis" xml:lang="en-US" id="label_ConcentrationRiskByTypeAxis">Concentration Risk Type [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationRiskByTypeAxis" xlink:to="label_ConcentrationRiskByTypeAxis" xlink:title="label: ConcentrationRiskByTypeAxis to label_ConcentrationRiskByTypeAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ConcentrationRiskPercentage1" xlink:label="ConcentrationRiskPercentage1" xlink:title="ConcentrationRiskPercentage1" />
    <link:label xlink:type="resource" xlink:label="label_ConcentrationRiskPercentage1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConcentrationRiskPercentage1" xml:lang="en-US" id="label_ConcentrationRiskPercentage1">Concentration Risk, Percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationRiskPercentage1" xlink:to="label_ConcentrationRiskPercentage1" xlink:title="label: ConcentrationRiskPercentage1 to label_ConcentrationRiskPercentage1" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ConcentrationRiskPercentage1_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConcentrationRiskPercentage1" xml:lang="en-US" id="label_ConcentrationRiskPercentage1_2">Concentration risk (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationRiskPercentage1" xlink:to="label_ConcentrationRiskPercentage1_2" xlink:title="label: ConcentrationRiskPercentage1 to label_ConcentrationRiskPercentage1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ConversionOfStockSharesConverted1" xlink:label="ConversionOfStockSharesConverted1" xlink:title="ConversionOfStockSharesConverted1" />
    <link:label xlink:type="resource" xlink:label="label_ConversionOfStockSharesConverted1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConversionOfStockSharesConverted1" xml:lang="en-US" id="label_ConversionOfStockSharesConverted1">Conversion of Stock, Shares Converted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConversionOfStockSharesConverted1" xlink:to="label_ConversionOfStockSharesConverted1" xlink:title="label: ConversionOfStockSharesConverted1 to label_ConversionOfStockSharesConverted1" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ConversionOfStockSharesConverted1_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConversionOfStockSharesConverted1" xml:lang="en-US" id="label_ConversionOfStockSharesConverted1_2">Number of shares of preferred stock elected to be converted to common shares (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConversionOfStockSharesConverted1" xlink:to="label_ConversionOfStockSharesConverted1_2" xlink:title="label: ConversionOfStockSharesConverted1 to label_ConversionOfStockSharesConverted1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ConversionOfStockSharesIssued1" xlink:label="ConversionOfStockSharesIssued1" xlink:title="ConversionOfStockSharesIssued1" />
    <link:label xlink:type="resource" xlink:label="label_ConversionOfStockSharesIssued1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConversionOfStockSharesIssued1" xml:lang="en-US" id="label_ConversionOfStockSharesIssued1">Conversion of Stock, Shares Issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConversionOfStockSharesIssued1" xlink:to="label_ConversionOfStockSharesIssued1" xlink:title="label: ConversionOfStockSharesIssued1 to label_ConversionOfStockSharesIssued1" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ConversionOfStockSharesIssued1_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConversionOfStockSharesIssued1" xml:lang="en-US" id="label_ConversionOfStockSharesIssued1_2">Common stock issued upon conversion (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConversionOfStockSharesIssued1" xlink:to="label_ConversionOfStockSharesIssued1_2" xlink:title="label: ConversionOfStockSharesIssued1 to label_ConversionOfStockSharesIssued1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ConversionOfStockAmountConverted1" xlink:label="ConversionOfStockAmountConverted1" xlink:title="ConversionOfStockAmountConverted1" />
    <link:label xlink:type="resource" xlink:label="label_ConversionOfStockAmountConverted1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConversionOfStockAmountConverted1" xml:lang="en-US" id="label_ConversionOfStockAmountConverted1">Conversion of Stock, Amount Converted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConversionOfStockAmountConverted1" xlink:to="label_ConversionOfStockAmountConverted1" xlink:title="label: ConversionOfStockAmountConverted1 to label_ConversionOfStockAmountConverted1" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ConversionOfStockAmountConverted1_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConversionOfStockAmountConverted1" xml:lang="en-US" id="label_ConversionOfStockAmountConverted1_2">Conversion of preferred stock to common stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConversionOfStockAmountConverted1" xlink:to="label_ConversionOfStockAmountConverted1_2" xlink:title="label: ConversionOfStockAmountConverted1 to label_ConversionOfStockAmountConverted1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ConvertiblePreferredStockConvertedToOtherSecurities" xlink:label="ConvertiblePreferredStockConvertedToOtherSecurities" xlink:title="ConvertiblePreferredStockConvertedToOtherSecurities" />
    <link:label xlink:type="resource" xlink:label="label_ConvertiblePreferredStockConvertedToOtherSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConvertiblePreferredStockConvertedToOtherSecurities" xml:lang="en-US" id="label_ConvertiblePreferredStockConvertedToOtherSecurities">Convertible Preferred Stock Converted to Other Securities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConvertiblePreferredStockConvertedToOtherSecurities" xlink:to="label_ConvertiblePreferredStockConvertedToOtherSecurities" xlink:title="label: ConvertiblePreferredStockConvertedToOtherSecurities to label_ConvertiblePreferredStockConvertedToOtherSecurities" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ConvertiblePreferredStockConvertedToOtherSecurities_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConvertiblePreferredStockConvertedToOtherSecurities" xml:lang="en-US" id="label_ConvertiblePreferredStockConvertedToOtherSecurities_2">Conversion of preferred stock to common stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConvertiblePreferredStockConvertedToOtherSecurities" xlink:to="label_ConvertiblePreferredStockConvertedToOtherSecurities_2" xlink:title="label: ConvertiblePreferredStockConvertedToOtherSecurities to label_ConvertiblePreferredStockConvertedToOtherSecurities" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CostsAndExpensesAbstract" xlink:label="CostsAndExpensesAbstract" xlink:title="CostsAndExpensesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_CostsAndExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CostsAndExpensesAbstract" xml:lang="en-US" id="label_CostsAndExpensesAbstract">Costs and Expenses [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostsAndExpensesAbstract" xlink:to="label_CostsAndExpensesAbstract" xlink:title="label: CostsAndExpensesAbstract to label_CostsAndExpensesAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CostsAndExpensesAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CostsAndExpensesAbstract" xml:lang="en-US" id="label_CostsAndExpensesAbstract_2">Expenses:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostsAndExpensesAbstract" xlink:to="label_CostsAndExpensesAbstract_2" xlink:title="label: CostsAndExpensesAbstract to label_CostsAndExpensesAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CostsAndExpenses" xlink:label="CostsAndExpenses" xlink:title="CostsAndExpenses" />
    <link:label xlink:type="resource" xlink:label="label_CostsAndExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CostsAndExpenses" xml:lang="en-US" id="label_CostsAndExpenses">Costs and Expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostsAndExpenses" xlink:to="label_CostsAndExpenses" xlink:title="label: CostsAndExpenses to label_CostsAndExpenses" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CostsAndExpenses_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_CostsAndExpenses" xml:lang="en-US" id="label_CostsAndExpenses_2">Total expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostsAndExpenses" xlink:to="label_CostsAndExpenses_2" xlink:title="label: CostsAndExpenses to label_CostsAndExpenses" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CumulativePreferredStockMember" xlink:label="CumulativePreferredStockMember" xlink:title="CumulativePreferredStockMember" />
    <link:label xlink:type="resource" xlink:label="label_CumulativePreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CumulativePreferredStockMember" xml:lang="en-US" id="label_CumulativePreferredStockMember">Cumulative Preferred Stock [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CumulativePreferredStockMember" xlink:to="label_CumulativePreferredStockMember" xlink:title="label: CumulativePreferredStockMember to label_CumulativePreferredStockMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_CumulativePreferredStockMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CumulativePreferredStockMember" xml:lang="en-US" id="label_CumulativePreferredStockMember_2">Total Cumulative Preferred Stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CumulativePreferredStockMember" xlink:to="label_CumulativePreferredStockMember_2" xlink:title="label: CumulativePreferredStockMember to label_CumulativePreferredStockMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentDescriptionOfVariableRateBasis" xlink:label="DebtInstrumentDescriptionOfVariableRateBasis" xlink:title="DebtInstrumentDescriptionOfVariableRateBasis" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentDescriptionOfVariableRateBasis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentDescriptionOfVariableRateBasis" xml:lang="en-US" id="label_DebtInstrumentDescriptionOfVariableRateBasis">Debt Instrument, Description of Variable Rate Basis</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentDescriptionOfVariableRateBasis" xlink:to="label_DebtInstrumentDescriptionOfVariableRateBasis" xlink:title="label: DebtInstrumentDescriptionOfVariableRateBasis to label_DebtInstrumentDescriptionOfVariableRateBasis" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentDescriptionOfVariableRateBasis_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentDescriptionOfVariableRateBasis" xml:lang="en-US" id="label_DebtInstrumentDescriptionOfVariableRateBasis_2">Description of interest rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentDescriptionOfVariableRateBasis" xlink:to="label_DebtInstrumentDescriptionOfVariableRateBasis_2" xlink:title="label: DebtInstrumentDescriptionOfVariableRateBasis to label_DebtInstrumentDescriptionOfVariableRateBasis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="DebtInstrumentLineItems" xlink:title="DebtInstrumentLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentLineItems" xml:lang="en-US" id="label_DebtInstrumentLineItems">Debt Instrument [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentLineItems" xlink:to="label_DebtInstrumentLineItems" xlink:title="label: DebtInstrumentLineItems to label_DebtInstrumentLineItems" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentLineItems_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentLineItems" xml:lang="en-US" id="label_DebtInstrumentLineItems_2">Debt Obligations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentLineItems" xlink:to="label_DebtInstrumentLineItems_2" xlink:title="label: DebtInstrumentLineItems to label_DebtInstrumentLineItems" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="DebtInstrumentTable" xlink:title="DebtInstrumentTable" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentTable" xml:lang="en-US" id="label_DebtInstrumentTable">Schedule of Long-term Debt Instruments [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentTable" xlink:to="label_DebtInstrumentTable" xlink:title="label: DebtInstrumentTable to label_DebtInstrumentTable" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtDisclosureTextBlock" xlink:label="DebtDisclosureTextBlock" xlink:title="DebtDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_DebtDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtDisclosureTextBlock" xml:lang="en-US" id="label_DebtDisclosureTextBlock">Debt Disclosure [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtDisclosureTextBlock" xlink:to="label_DebtDisclosureTextBlock" xlink:title="label: DebtDisclosureTextBlock to label_DebtDisclosureTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtDisclosureTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtDisclosureTextBlock" xml:lang="en-US" id="label_DebtDisclosureTextBlock_2">Debt Obligations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtDisclosureTextBlock" xlink:to="label_DebtDisclosureTextBlock_2" xlink:title="label: DebtDisclosureTextBlock to label_DebtDisclosureTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtDisclosureAbstract" xlink:label="DebtDisclosureAbstract" xlink:title="DebtDisclosureAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DebtDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtDisclosureAbstract" xml:lang="en-US" id="label_DebtDisclosureAbstract">Debt Obligations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtDisclosureAbstract" xlink:to="label_DebtDisclosureAbstract" xlink:title="label: DebtDisclosureAbstract to label_DebtDisclosureAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate" xlink:label="DebtInstrumentBasisSpreadOnVariableRate" xlink:title="DebtInstrumentBasisSpreadOnVariableRate" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentBasisSpreadOnVariableRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentBasisSpreadOnVariableRate" xml:lang="en-US" id="label_DebtInstrumentBasisSpreadOnVariableRate">Debt Instrument, Basis Spread on Variable Rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentBasisSpreadOnVariableRate" xlink:to="label_DebtInstrumentBasisSpreadOnVariableRate" xlink:title="label: DebtInstrumentBasisSpreadOnVariableRate to label_DebtInstrumentBasisSpreadOnVariableRate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentBasisSpreadOnVariableRate_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentBasisSpreadOnVariableRate" xml:lang="en-US" id="label_DebtInstrumentBasisSpreadOnVariableRate_2">Basis spread over base rate (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentBasisSpreadOnVariableRate" xlink:to="label_DebtInstrumentBasisSpreadOnVariableRate_2" xlink:title="label: DebtInstrumentBasisSpreadOnVariableRate to label_DebtInstrumentBasisSpreadOnVariableRate" use="optional" />
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    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentAxis" xml:lang="en-US" id="label_DebtInstrumentAxis">Debt Instrument [Axis]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="DebtInstrumentNameDomain" xlink:title="DebtInstrumentNameDomain" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentIncreaseAdditionalBorrowings" xlink:label="DebtInstrumentIncreaseAdditionalBorrowings" xlink:title="DebtInstrumentIncreaseAdditionalBorrowings" />
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    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentIncreaseAdditionalBorrowings_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentIncreaseAdditionalBorrowings" xml:lang="en-US" id="label_DebtInstrumentIncreaseAdditionalBorrowings_2">Debt Instrument, Increase, Additional Borrowings</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentPeriodicPaymentPrincipal" xlink:label="DebtInstrumentPeriodicPaymentPrincipal" xlink:title="DebtInstrumentPeriodicPaymentPrincipal" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentPeriodicPaymentPrincipal" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentPeriodicPaymentPrincipal" xml:lang="en-US" id="label_DebtInstrumentPeriodicPaymentPrincipal">Scheduled principal payment</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentInterestRateDuringPeriod" xlink:label="DebtInstrumentInterestRateDuringPeriod" xlink:title="DebtInstrumentInterestRateDuringPeriod" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentInterestRateDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentInterestRateDuringPeriod" xml:lang="en-US" id="label_DebtInstrumentInterestRateDuringPeriod">Debt Instrument, Interest Rate During Period</link:label>
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    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentInterestRateDuringPeriod_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentInterestRateDuringPeriod" xml:lang="en-US" id="label_DebtInstrumentInterestRateDuringPeriod_2">Weighted average interest rate (as a percent)</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="DebtInstrumentInterestRateStatedPercentage" xlink:title="DebtInstrumentInterestRateStatedPercentage" />
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    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentInterestRateStatedPercentage_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentInterestRateStatedPercentage" xml:lang="en-US" id="label_DebtInstrumentInterestRateStatedPercentage_2">Stated interest rate (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentInterestRateStatedPercentage" xlink:to="label_DebtInstrumentInterestRateStatedPercentage_2" xlink:title="label: DebtInstrumentInterestRateStatedPercentage to label_DebtInstrumentInterestRateStatedPercentage" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DeferredFinanceCostsNet" xlink:label="DeferredFinanceCostsNet" xlink:title="DeferredFinanceCostsNet" />
    <link:label xlink:type="resource" xlink:label="label_DeferredFinanceCostsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredFinanceCostsNet" xml:lang="en-US" id="label_DeferredFinanceCostsNet">Deferred Finance Costs, Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredFinanceCostsNet" xlink:to="label_DeferredFinanceCostsNet" xlink:title="label: DeferredFinanceCostsNet to label_DeferredFinanceCostsNet" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DeferredFinanceCostsNet_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DeferredFinanceCostsNet" xml:lang="en-US" id="label_DeferredFinanceCostsNet_2">Debt issue costs, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredFinanceCostsNet" xlink:to="label_DeferredFinanceCostsNet_2" xlink:title="label: DeferredFinanceCostsNet to label_DeferredFinanceCostsNet" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DeferredRentReceivablesNet" xlink:label="DeferredRentReceivablesNet" xlink:title="DeferredRentReceivablesNet" />
    <link:label xlink:type="resource" xlink:label="label_DeferredRentReceivablesNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredRentReceivablesNet" xml:lang="en-US" id="label_DeferredRentReceivablesNet">Deferred Rent Receivables, Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredRentReceivablesNet" xlink:to="label_DeferredRentReceivablesNet" xlink:title="label: DeferredRentReceivablesNet to label_DeferredRentReceivablesNet" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DeferredRentReceivablesNet_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_DeferredRentReceivablesNet" xml:lang="en-US" id="label_DeferredRentReceivablesNet_2">Straight-line rent receivable, net of allowance for doubtful accounts: 2013 - $1,567; 2012 - $1,557</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredRentReceivablesNet" xlink:to="label_DeferredRentReceivablesNet_2" xlink:title="label: DeferredRentReceivablesNet to label_DeferredRentReceivablesNet" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="DepreciationAndAmortization" xlink:title="DepreciationAndAmortization" />
    <link:label xlink:type="resource" xlink:label="label_DepreciationAndAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DepreciationAndAmortization" xml:lang="en-US" id="label_DepreciationAndAmortization">Depreciation, Depletion and Amortization, Nonproduction</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationAndAmortization" xlink:to="label_DepreciationAndAmortization" xlink:title="label: DepreciationAndAmortization to label_DepreciationAndAmortization" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DepreciationAndAmortization_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DepreciationAndAmortization" xml:lang="en-US" id="label_DepreciationAndAmortization_2">Depreciation and amortization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationAndAmortization" xlink:to="label_DepreciationAndAmortization_2" xlink:title="label: DepreciationAndAmortization to label_DepreciationAndAmortization" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DepreciationDepletionAndAmortization" xlink:label="DepreciationDepletionAndAmortization" xlink:title="DepreciationDepletionAndAmortization" />
    <link:label xlink:type="resource" xlink:label="label_DepreciationDepletionAndAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DepreciationDepletionAndAmortization" xml:lang="en-US" id="label_DepreciationDepletionAndAmortization">Depreciation, Depletion and Amortization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationDepletionAndAmortization" xlink:to="label_DepreciationDepletionAndAmortization" xlink:title="label: DepreciationDepletionAndAmortization to label_DepreciationDepletionAndAmortization" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DepreciationDepletionAndAmortization_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DepreciationDepletionAndAmortization" xml:lang="en-US" id="label_DepreciationDepletionAndAmortization_2">Depreciation and amortization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationDepletionAndAmortization" xlink:to="label_DepreciationDepletionAndAmortization_2" xlink:title="label: DepreciationDepletionAndAmortization to label_DepreciationDepletionAndAmortization" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DilutiveSecuritiesAbstract" xlink:label="DilutiveSecuritiesAbstract" xlink:title="DilutiveSecuritiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DilutiveSecuritiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DilutiveSecuritiesAbstract" xml:lang="en-US" id="label_DilutiveSecuritiesAbstract">Dilutive Securities, Effect on Basic Earnings Per Share [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DilutiveSecuritiesAbstract" xlink:to="label_DilutiveSecuritiesAbstract" xlink:title="label: DilutiveSecuritiesAbstract to label_DilutiveSecuritiesAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DilutiveSecuritiesAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DilutiveSecuritiesAbstract" xml:lang="en-US" id="label_DilutiveSecuritiesAbstract_2">Effect of dilutive securities:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DilutiveSecuritiesAbstract" xlink:to="label_DilutiveSecuritiesAbstract_2" xlink:title="label: DilutiveSecuritiesAbstract to label_DilutiveSecuritiesAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DilutiveSecurities" xlink:label="DilutiveSecurities" xlink:title="DilutiveSecurities" />
    <link:label xlink:type="resource" xlink:label="label_DilutiveSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DilutiveSecurities" xml:lang="en-US" id="label_DilutiveSecurities">Dilutive Securities, Effect on Basic Earnings Per Share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DilutiveSecurities" xlink:to="label_DilutiveSecurities" xlink:title="label: DilutiveSecurities to label_DilutiveSecurities" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DilutiveSecurities_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_DilutiveSecurities" xml:lang="en-US" id="label_DilutiveSecurities_2">Total effect of dilutive securities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DilutiveSecurities" xlink:to="label_DilutiveSecurities_2" xlink:title="label: DilutiveSecurities to label_DilutiveSecurities" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DilutiveSecuritiesEffectOnBasicEarningsPerShareOther" xlink:label="DilutiveSecuritiesEffectOnBasicEarningsPerShareOther" xlink:title="DilutiveSecuritiesEffectOnBasicEarningsPerShareOther" />
    <link:label xlink:type="resource" xlink:label="label_DilutiveSecuritiesEffectOnBasicEarningsPerShareOther" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DilutiveSecuritiesEffectOnBasicEarningsPerShareOther" xml:lang="en-US" id="label_DilutiveSecuritiesEffectOnBasicEarningsPerShareOther">Dilutive Securities, Effect on Basic Earnings Per Share, Other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DilutiveSecuritiesEffectOnBasicEarningsPerShareOther" xlink:to="label_DilutiveSecuritiesEffectOnBasicEarningsPerShareOther" xlink:title="label: DilutiveSecuritiesEffectOnBasicEarningsPerShareOther to label_DilutiveSecuritiesEffectOnBasicEarningsPerShareOther" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DilutiveSecuritiesEffectOnBasicEarningsPerShareOther_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DilutiveSecuritiesEffectOnBasicEarningsPerShareOther" xml:lang="en-US" id="label_DilutiveSecuritiesEffectOnBasicEarningsPerShareOther_2">Convertible preferred securities</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax" xlink:label="DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax" xlink:title="DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax" />
    <link:label xlink:type="resource" xlink:label="label_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax" xml:lang="en-US" id="label_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax">Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax" xlink:to="label_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax" xlink:title="label: DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax to label_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax" xml:lang="en-US" id="label_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax_2">Gain on sale of assets, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax" xlink:to="label_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax_2" xlink:title="label: DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax to label_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax" use="optional" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax" xlink:to="label_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax_3" xlink:title="label: DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax to label_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax_4" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax" xml:lang="en-US" id="label_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax_4">Gain on sale of assets, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax" xlink:to="label_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax_4" xlink:title="label: DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax to label_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax" xlink:label="DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax" xlink:title="DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax" />
    <link:label xlink:type="resource" xlink:label="label_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax" xml:lang="en-US" id="label_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax">Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax" xlink:to="label_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax" xlink:title="label: DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax to label_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax" xml:lang="en-US" id="label_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax_2">Loss from discontinued operations</link:label>
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    <link:label xlink:type="resource" xlink:label="label_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax" xml:lang="en-US" id="label_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax_3">(Loss) gain from discontinued operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax" xlink:to="label_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax_3" xlink:title="label: DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax to label_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax_4" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax" xml:lang="en-US" id="label_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax_4">(Loss) income from discontinued operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax" xlink:to="label_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax_4" xlink:title="label: DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax to label_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DiscontinuedOperationsPolicyTextBlock" xlink:label="DiscontinuedOperationsPolicyTextBlock" xlink:title="DiscontinuedOperationsPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_DiscontinuedOperationsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DiscontinuedOperationsPolicyTextBlock" xml:lang="en-US" id="label_DiscontinuedOperationsPolicyTextBlock">Discontinued Operations, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DiscontinuedOperationsPolicyTextBlock" xlink:to="label_DiscontinuedOperationsPolicyTextBlock" xlink:title="label: DiscontinuedOperationsPolicyTextBlock to label_DiscontinuedOperationsPolicyTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DiscontinuedOperationsPolicyTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DiscontinuedOperationsPolicyTextBlock" xml:lang="en-US" id="label_DiscontinuedOperationsPolicyTextBlock_2">Discontinued Operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DiscontinuedOperationsPolicyTextBlock" xlink:to="label_DiscontinuedOperationsPolicyTextBlock_2" xlink:title="label: DiscontinuedOperationsPolicyTextBlock to label_DiscontinuedOperationsPolicyTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract" xlink:label="DiscontinuedOperationsAndDisposalGroupsAbstract" xlink:title="DiscontinuedOperationsAndDisposalGroupsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DiscontinuedOperationsAndDisposalGroupsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DiscontinuedOperationsAndDisposalGroupsAbstract" xml:lang="en-US" id="label_DiscontinuedOperationsAndDisposalGroupsAbstract">Discontinued Operations and Disposal Groups [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DiscontinuedOperationsAndDisposalGroupsAbstract" xlink:to="label_DiscontinuedOperationsAndDisposalGroupsAbstract" xlink:title="label: DiscontinuedOperationsAndDisposalGroupsAbstract to label_DiscontinuedOperationsAndDisposalGroupsAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DiscontinuedOperationsAndDisposalGroupsAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DiscontinuedOperationsAndDisposalGroupsAbstract" xml:lang="en-US" id="label_DiscontinuedOperationsAndDisposalGroupsAbstract_2">Discontinued Operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DiscontinuedOperationsAndDisposalGroupsAbstract" xlink:to="label_DiscontinuedOperationsAndDisposalGroupsAbstract_2" xlink:title="label: DiscontinuedOperationsAndDisposalGroupsAbstract to label_DiscontinuedOperationsAndDisposalGroupsAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationRevenue" xlink:label="DisposalGroupIncludingDiscontinuedOperationRevenue" xlink:title="DisposalGroupIncludingDiscontinuedOperationRevenue" />
    <link:label xlink:type="resource" xlink:label="label_DisposalGroupIncludingDiscontinuedOperationRevenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisposalGroupIncludingDiscontinuedOperationRevenue" xml:lang="en-US" id="label_DisposalGroupIncludingDiscontinuedOperationRevenue">Disposal Group, Including Discontinued Operation, Revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalGroupIncludingDiscontinuedOperationRevenue" xlink:to="label_DisposalGroupIncludingDiscontinuedOperationRevenue" xlink:title="label: DisposalGroupIncludingDiscontinuedOperationRevenue to label_DisposalGroupIncludingDiscontinuedOperationRevenue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DisposalGroupIncludingDiscontinuedOperationRevenue_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_DisposalGroupIncludingDiscontinuedOperationRevenue" xml:lang="en-US" id="label_DisposalGroupIncludingDiscontinuedOperationRevenue_2">Total revenues</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalGroupIncludingDiscontinuedOperationRevenue" xlink:to="label_DisposalGroupIncludingDiscontinuedOperationRevenue_2" xlink:title="label: DisposalGroupIncludingDiscontinuedOperationRevenue to label_DisposalGroupIncludingDiscontinuedOperationRevenue" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DisposalGroupNotDiscontinuedOperationIncomeStatementDisclosuresAbstract" xlink:label="DisposalGroupNotDiscontinuedOperationIncomeStatementDisclosuresAbstract" xlink:title="DisposalGroupNotDiscontinuedOperationIncomeStatementDisclosuresAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisposalGroupNotDiscontinuedOperationIncomeStatementDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisposalGroupNotDiscontinuedOperationIncomeStatementDisclosuresAbstract" xml:lang="en-US" id="label_DisposalGroupNotDiscontinuedOperationIncomeStatementDisclosuresAbstract">Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalGroupNotDiscontinuedOperationIncomeStatementDisclosuresAbstract" xlink:to="label_DisposalGroupNotDiscontinuedOperationIncomeStatementDisclosuresAbstract" xlink:title="label: DisposalGroupNotDiscontinuedOperationIncomeStatementDisclosuresAbstract to label_DisposalGroupNotDiscontinuedOperationIncomeStatementDisclosuresAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DisposalGroupNotDiscontinuedOperationIncomeStatementDisclosuresAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisposalGroupNotDiscontinuedOperationIncomeStatementDisclosuresAbstract" xml:lang="en-US" id="label_DisposalGroupNotDiscontinuedOperationIncomeStatementDisclosuresAbstract_2">Discontinued operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalGroupNotDiscontinuedOperationIncomeStatementDisclosuresAbstract" xlink:to="label_DisposalGroupNotDiscontinuedOperationIncomeStatementDisclosuresAbstract_2" xlink:title="label: DisposalGroupNotDiscontinuedOperationIncomeStatementDisclosuresAbstract to label_DisposalGroupNotDiscontinuedOperationIncomeStatementDisclosuresAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationInterestExpense" xlink:label="DisposalGroupIncludingDiscontinuedOperationInterestExpense" xlink:title="DisposalGroupIncludingDiscontinuedOperationInterestExpense" />
    <link:label xlink:type="resource" xlink:label="label_DisposalGroupIncludingDiscontinuedOperationInterestExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisposalGroupIncludingDiscontinuedOperationInterestExpense" xml:lang="en-US" id="label_DisposalGroupIncludingDiscontinuedOperationInterestExpense">Disposal Group, Including Discontinued Operation, Interest Expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalGroupIncludingDiscontinuedOperationInterestExpense" xlink:to="label_DisposalGroupIncludingDiscontinuedOperationInterestExpense" xlink:title="label: DisposalGroupIncludingDiscontinuedOperationInterestExpense to label_DisposalGroupIncludingDiscontinuedOperationInterestExpense" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DisposalGroupIncludingDiscontinuedOperationInterestExpense_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DisposalGroupIncludingDiscontinuedOperationInterestExpense" xml:lang="en-US" id="label_DisposalGroupIncludingDiscontinuedOperationInterestExpense_2">Interest expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalGroupIncludingDiscontinuedOperationInterestExpense" xlink:to="label_DisposalGroupIncludingDiscontinuedOperationInterestExpense_2" xlink:title="label: DisposalGroupIncludingDiscontinuedOperationInterestExpense to label_DisposalGroupIncludingDiscontinuedOperationInterestExpense" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationRentalIncome" xlink:label="DisposalGroupIncludingDiscontinuedOperationRentalIncome" xlink:title="DisposalGroupIncludingDiscontinuedOperationRentalIncome" />
    <link:label xlink:type="resource" xlink:label="label_DisposalGroupIncludingDiscontinuedOperationRentalIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisposalGroupIncludingDiscontinuedOperationRentalIncome" xml:lang="en-US" id="label_DisposalGroupIncludingDiscontinuedOperationRentalIncome">Disposal Group, Including Discontinued Operation, Rental Income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalGroupIncludingDiscontinuedOperationRentalIncome" xlink:to="label_DisposalGroupIncludingDiscontinuedOperationRentalIncome" xlink:title="label: DisposalGroupIncludingDiscontinuedOperationRentalIncome to label_DisposalGroupIncludingDiscontinuedOperationRentalIncome" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DisposalGroupIncludingDiscontinuedOperationRentalIncome_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisposalGroupIncludingDiscontinuedOperationRentalIncome" xml:lang="en-US" id="label_DisposalGroupIncludingDiscontinuedOperationRentalIncome_2">Rental income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalGroupIncludingDiscontinuedOperationRentalIncome" xlink:to="label_DisposalGroupIncludingDiscontinuedOperationRentalIncome_2" xlink:title="label: DisposalGroupIncludingDiscontinuedOperationRentalIncome to label_DisposalGroupIncludingDiscontinuedOperationRentalIncome" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendDeclaredMember" xlink:label="DividendDeclaredMember" xlink:title="DividendDeclaredMember" />
    <link:label xlink:type="resource" xlink:label="label_DividendDeclaredMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendDeclaredMember" xml:lang="en-US" id="label_DividendDeclaredMember">Dividend Declared [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendDeclaredMember" xlink:to="label_DividendDeclaredMember" xlink:title="label: DividendDeclaredMember to label_DividendDeclaredMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DividendDeclaredMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DividendDeclaredMember" xml:lang="en-US" id="label_DividendDeclaredMember_2">Dividend declared</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendDeclaredMember" xlink:to="label_DividendDeclaredMember_2" xlink:title="label: DividendDeclaredMember to label_DividendDeclaredMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DividendDeclaredMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_DividendDeclaredMember" xml:lang="en-US" id="label_DividendDeclaredMember_3">Dividend distributions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendDeclaredMember" xlink:to="label_DividendDeclaredMember_3" xlink:title="label: DividendDeclaredMember to label_DividendDeclaredMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsPreferredStockStock" xlink:label="DividendsPreferredStockStock" xlink:title="DividendsPreferredStockStock" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPreferredStockStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsPreferredStockStock" xml:lang="en-US" id="label_DividendsPreferredStockStock">Dividends, Preferred Stock, Stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPreferredStockStock" xlink:to="label_DividendsPreferredStockStock" xlink:title="label: DividendsPreferredStockStock to label_DividendsPreferredStockStock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPreferredStockStock_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DividendsPreferredStockStock" xml:lang="en-US" id="label_DividendsPreferredStockStock_2">Preferred stock dividends</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPreferredStockStock" xlink:to="label_DividendsPreferredStockStock_2" xlink:title="label: DividendsPreferredStockStock to label_DividendsPreferredStockStock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsAbstract" xlink:label="DividendsAbstract" xlink:title="DividendsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DividendsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsAbstract" xml:lang="en-US" id="label_DividendsAbstract">Dividends [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsAbstract" xlink:to="label_DividendsAbstract" xlink:title="label: DividendsAbstract to label_DividendsAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DividendsAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DividendsAbstract" xml:lang="en-US" id="label_DividendsAbstract_2">Dividend Distributions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsAbstract" xlink:to="label_DividendsAbstract_2" xlink:title="label: DividendsAbstract to label_DividendsAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsCommonStockCash" xlink:label="DividendsCommonStockCash" xlink:title="DividendsCommonStockCash" />
    <link:label xlink:type="resource" xlink:label="label_DividendsCommonStockCash" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsCommonStockCash" xml:lang="en-US" id="label_DividendsCommonStockCash">Dividends, Common Stock, Cash</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsCommonStockCash" xlink:to="label_DividendsCommonStockCash" xlink:title="label: DividendsCommonStockCash to label_DividendsCommonStockCash" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DividendsCommonStockCash_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DividendsCommonStockCash" xml:lang="en-US" id="label_DividendsCommonStockCash_2">Common stock cash distributions ($1.79, $1.68 and $1.58 per share for the year ended 2012, 2011 and 2010, respectively)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsCommonStockCash" xlink:to="label_DividendsCommonStockCash_2" xlink:title="label: DividendsCommonStockCash to label_DividendsCommonStockCash" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:label="DividendsPayableCurrentAndNoncurrent" xlink:title="DividendsPayableCurrentAndNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsPayableCurrentAndNoncurrent" xml:lang="en-US" id="label_DividendsPayableCurrentAndNoncurrent">Dividends Payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPayableCurrentAndNoncurrent" xlink:to="label_DividendsPayableCurrentAndNoncurrent" xlink:title="label: DividendsPayableCurrentAndNoncurrent to label_DividendsPayableCurrentAndNoncurrent" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPayableCurrentAndNoncurrent_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DividendsPayableCurrentAndNoncurrent" xml:lang="en-US" id="label_DividendsPayableCurrentAndNoncurrent_2">Distributions payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPayableCurrentAndNoncurrent" xlink:to="label_DividendsPayableCurrentAndNoncurrent_2" xlink:title="label: DividendsPayableCurrentAndNoncurrent to label_DividendsPayableCurrentAndNoncurrent" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DueFromRelatedParties" xlink:label="DueFromRelatedParties" xlink:title="DueFromRelatedParties" />
    <link:label xlink:type="resource" xlink:label="label_DueFromRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DueFromRelatedParties" xml:lang="en-US" id="label_DueFromRelatedParties">Due from Related Parties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DueFromRelatedParties" xlink:to="label_DueFromRelatedParties" xlink:title="label: DueFromRelatedParties to label_DueFromRelatedParties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DueFromRelatedParties_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DueFromRelatedParties" xml:lang="en-US" id="label_DueFromRelatedParties_2">Straight-line rent receivable from a lessee that qualifies as a related party (in dollars)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DueFromRelatedParties" xlink:to="label_DueFromRelatedParties_2" xlink:title="label: DueFromRelatedParties to label_DueFromRelatedParties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_DueFromRelatedParties_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_DueFromRelatedParties" xml:lang="en-US" id="label_DueFromRelatedParties_3">Straight-line rental income receivable from subsidiaries</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DueFromRelatedParties" xlink:to="label_DueFromRelatedParties_3" xlink:title="label: DueFromRelatedParties to label_DueFromRelatedParties" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareBasicAbstract" xlink:label="EarningsPerShareBasicAbstract" xlink:title="EarningsPerShareBasicAbstract" />
    <link:label xlink:type="resource" xlink:label="label_EarningsPerShareBasicAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EarningsPerShareBasicAbstract" xml:lang="en-US" id="label_EarningsPerShareBasicAbstract">Earnings Per Share, Basic [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareBasicAbstract" xlink:to="label_EarningsPerShareBasicAbstract" xlink:title="label: EarningsPerShareBasicAbstract to label_EarningsPerShareBasicAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EarningsPerShareBasicAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EarningsPerShareBasicAbstract" xml:lang="en-US" id="label_EarningsPerShareBasicAbstract_2">Basic earnings per common share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareBasicAbstract" xlink:to="label_EarningsPerShareBasicAbstract_2" xlink:title="label: EarningsPerShareBasicAbstract to label_EarningsPerShareBasicAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="EarningsPerShareDiluted" xlink:title="EarningsPerShareDiluted" />
    <link:label xlink:type="resource" xlink:label="label_EarningsPerShareDiluted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EarningsPerShareDiluted" xml:lang="en-US" id="label_EarningsPerShareDiluted">Earnings Per Share, Diluted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareDiluted" xlink:to="label_EarningsPerShareDiluted" xlink:title="label: EarningsPerShareDiluted to label_EarningsPerShareDiluted" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EarningsPerShareDiluted_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_EarningsPerShareDiluted" xml:lang="en-US" id="label_EarningsPerShareDiluted_2">Net income available to common stockholders (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareDiluted" xlink:to="label_EarningsPerShareDiluted_2" xlink:title="label: EarningsPerShareDiluted to label_EarningsPerShareDiluted" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EarningsPerShareDiluted_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EarningsPerShareDiluted" xml:lang="en-US" id="label_EarningsPerShareDiluted_3">Diluted net income per share (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareDiluted" xlink:to="label_EarningsPerShareDiluted_3" xlink:title="label: EarningsPerShareDiluted to label_EarningsPerShareDiluted" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EarningsPerShareDiluted_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_EarningsPerShareDiluted" xml:lang="en-US" id="label_EarningsPerShareDiluted_4">Diluted (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareDiluted" xlink:to="label_EarningsPerShareDiluted_4" xlink:title="label: EarningsPerShareDiluted to label_EarningsPerShareDiluted" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareDilutedAbstract" xlink:label="EarningsPerShareDilutedAbstract" xlink:title="EarningsPerShareDilutedAbstract" />
    <link:label xlink:type="resource" xlink:label="label_EarningsPerShareDilutedAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EarningsPerShareDilutedAbstract" xml:lang="en-US" id="label_EarningsPerShareDilutedAbstract">Earnings Per Share, Diluted [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareDilutedAbstract" xlink:to="label_EarningsPerShareDilutedAbstract" xlink:title="label: EarningsPerShareDilutedAbstract to label_EarningsPerShareDilutedAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EarningsPerShareDilutedAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EarningsPerShareDilutedAbstract" xml:lang="en-US" id="label_EarningsPerShareDilutedAbstract_2">Diluted earnings per common share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareDilutedAbstract" xlink:to="label_EarningsPerShareDilutedAbstract_2" xlink:title="label: EarningsPerShareDilutedAbstract to label_EarningsPerShareDilutedAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareBasicAndDilutedAbstract" xlink:label="EarningsPerShareBasicAndDilutedAbstract" xlink:title="EarningsPerShareBasicAndDilutedAbstract" />
    <link:label xlink:type="resource" xlink:label="label_EarningsPerShareBasicAndDilutedAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EarningsPerShareBasicAndDilutedAbstract" xml:lang="en-US" id="label_EarningsPerShareBasicAndDilutedAbstract">Earnings Per Share, Basic and Diluted [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareBasicAndDilutedAbstract" xlink:to="label_EarningsPerShareBasicAndDilutedAbstract" xlink:title="label: EarningsPerShareBasicAndDilutedAbstract to label_EarningsPerShareBasicAndDilutedAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EarningsPerShareBasicAndDilutedAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EarningsPerShareBasicAndDilutedAbstract" xml:lang="en-US" id="label_EarningsPerShareBasicAndDilutedAbstract_2">Net income per common share available to common stockholders:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareBasicAndDilutedAbstract" xlink:to="label_EarningsPerShareBasicAndDilutedAbstract_2" xlink:title="label: EarningsPerShareBasicAndDilutedAbstract to label_EarningsPerShareBasicAndDilutedAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="EarningsPerShareBasic" xlink:title="EarningsPerShareBasic" />
    <link:label xlink:type="resource" xlink:label="label_EarningsPerShareBasic" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EarningsPerShareBasic" xml:lang="en-US" id="label_EarningsPerShareBasic">Earnings Per Share, Basic</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareBasic" xlink:to="label_EarningsPerShareBasic" xlink:title="label: EarningsPerShareBasic to label_EarningsPerShareBasic" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EarningsPerShareBasic_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_EarningsPerShareBasic" xml:lang="en-US" id="label_EarningsPerShareBasic_2">Net income available to common stockholders (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareBasic" xlink:to="label_EarningsPerShareBasic_2" xlink:title="label: EarningsPerShareBasic to label_EarningsPerShareBasic" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EarningsPerShareBasic_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EarningsPerShareBasic" xml:lang="en-US" id="label_EarningsPerShareBasic_3">Basic net income per share (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareBasic" xlink:to="label_EarningsPerShareBasic_3" xlink:title="label: EarningsPerShareBasic to label_EarningsPerShareBasic" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EarningsPerShareBasic_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_EarningsPerShareBasic" xml:lang="en-US" id="label_EarningsPerShareBasic_4">Basic (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareBasic" xlink:to="label_EarningsPerShareBasic_4" xlink:title="label: EarningsPerShareBasic to label_EarningsPerShareBasic" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareTextBlock" xlink:label="EarningsPerShareTextBlock" xlink:title="EarningsPerShareTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_EarningsPerShareTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EarningsPerShareTextBlock" xml:lang="en-US" id="label_EarningsPerShareTextBlock">Earnings Per Share [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareTextBlock" xlink:to="label_EarningsPerShareTextBlock" xlink:title="label: EarningsPerShareTextBlock to label_EarningsPerShareTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EarningsPerShareTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EarningsPerShareTextBlock" xml:lang="en-US" id="label_EarningsPerShareTextBlock_2">Earnings per Share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareTextBlock" xlink:to="label_EarningsPerShareTextBlock_2" xlink:title="label: EarningsPerShareTextBlock to label_EarningsPerShareTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerSharePolicyTextBlock" xlink:label="EarningsPerSharePolicyTextBlock" xlink:title="EarningsPerSharePolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_EarningsPerSharePolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EarningsPerSharePolicyTextBlock" xml:lang="en-US" id="label_EarningsPerSharePolicyTextBlock">Earnings Per Share, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerSharePolicyTextBlock" xlink:to="label_EarningsPerSharePolicyTextBlock" xlink:title="label: EarningsPerSharePolicyTextBlock to label_EarningsPerSharePolicyTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EarningsPerSharePolicyTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EarningsPerSharePolicyTextBlock" xml:lang="en-US" id="label_EarningsPerSharePolicyTextBlock_2">Net Income Per Share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerSharePolicyTextBlock" xlink:to="label_EarningsPerSharePolicyTextBlock_2" xlink:title="label: EarningsPerSharePolicyTextBlock to label_EarningsPerSharePolicyTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="EarningsPerShareAbstract" xlink:title="EarningsPerShareAbstract" />
    <link:label xlink:type="resource" xlink:label="label_EarningsPerShareAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EarningsPerShareAbstract" xml:lang="en-US" id="label_EarningsPerShareAbstract">Net income allocable to common stockholders:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareAbstract" xlink:to="label_EarningsPerShareAbstract" xlink:title="label: EarningsPerShareAbstract to label_EarningsPerShareAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EarningsPerShareAbstract_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EarningsPerShareAbstract" xml:lang="en-US" id="label_EarningsPerShareAbstract_2">Earnings per Share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareAbstract" xlink:to="label_EarningsPerShareAbstract_2" xlink:title="label: EarningsPerShareAbstract to label_EarningsPerShareAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EmployeeStockOptionMember" xlink:label="EmployeeStockOptionMember" xlink:title="EmployeeStockOptionMember" />
    <link:label xlink:type="resource" xlink:label="label_EmployeeStockOptionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EmployeeStockOptionMember" xml:lang="en-US" id="label_EmployeeStockOptionMember">Employee Stock Option [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EmployeeStockOptionMember" xlink:to="label_EmployeeStockOptionMember" xlink:title="label: EmployeeStockOptionMember to label_EmployeeStockOptionMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EmployeeStockOptionMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EmployeeStockOptionMember" xml:lang="en-US" id="label_EmployeeStockOptionMember_2">Stock Options</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EmployeeStockOptionMember" xlink:to="label_EmployeeStockOptionMember_2" xlink:title="label: EmployeeStockOptionMember to label_EmployeeStockOptionMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:label="EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:title="EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" />
    <link:label xlink:type="resource" xlink:label="label_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xml:lang="en-US" id="label_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized">Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:to="label_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:title="label: EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized to label_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xml:lang="en-US" id="label_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_2">Total compensation cost</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:to="label_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_2" xlink:title="label: EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized to label_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EquityAbstract" xlink:label="EquityAbstract" xlink:title="EquityAbstract" />
    <link:label xlink:type="resource" xlink:label="label_EquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EquityAbstract" xml:lang="en-US" id="label_EquityAbstract">Equity [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAbstract" xlink:to="label_EquityAbstract" xlink:title="label: EquityAbstract to label_EquityAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EquityAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EquityAbstract" xml:lang="en-US" id="label_EquityAbstract_2">Other Equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAbstract" xlink:to="label_EquityAbstract_2" xlink:title="label: EquityAbstract to label_EquityAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="EquityComponentDomain" xlink:title="EquityComponentDomain" />
    <link:label xlink:type="resource" xlink:label="label_EquityComponentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EquityComponentDomain" xml:lang="en-US" id="label_EquityComponentDomain">Equity Component [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityComponentDomain" xlink:to="label_EquityComponentDomain" xlink:title="label: EquityComponentDomain to label_EquityComponentDomain" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EstimateOfFairValueFairValueDisclosureMember" xlink:label="EstimateOfFairValueFairValueDisclosureMember" xlink:title="EstimateOfFairValueFairValueDisclosureMember" />
    <link:label xlink:type="resource" xlink:label="label_EstimateOfFairValueFairValueDisclosureMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EstimateOfFairValueFairValueDisclosureMember" xml:lang="en-US" id="label_EstimateOfFairValueFairValueDisclosureMember">Estimate of Fair Value, Fair Value Disclosure [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimateOfFairValueFairValueDisclosureMember" xlink:to="label_EstimateOfFairValueFairValueDisclosureMember" xlink:title="label: EstimateOfFairValueFairValueDisclosureMember to label_EstimateOfFairValueFairValueDisclosureMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_EstimateOfFairValueFairValueDisclosureMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EstimateOfFairValueFairValueDisclosureMember" xml:lang="en-US" id="label_EstimateOfFairValueFairValueDisclosureMember_2">Fair Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimateOfFairValueFairValueDisclosureMember" xlink:to="label_EstimateOfFairValueFairValueDisclosureMember_2" xlink:title="label: EstimateOfFairValueFairValueDisclosureMember to label_EstimateOfFairValueFairValueDisclosureMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ExtinguishmentOfDebtAmount" xlink:label="ExtinguishmentOfDebtAmount" xlink:title="ExtinguishmentOfDebtAmount" />
    <link:label xlink:type="resource" xlink:label="label_ExtinguishmentOfDebtAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExtinguishmentOfDebtAmount" xml:lang="en-US" id="label_ExtinguishmentOfDebtAmount">Extinguishment of Debt, Amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExtinguishmentOfDebtAmount" xlink:to="label_ExtinguishmentOfDebtAmount" xlink:title="label: ExtinguishmentOfDebtAmount to label_ExtinguishmentOfDebtAmount" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ExtinguishmentOfDebtAmount_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExtinguishmentOfDebtAmount" xml:lang="en-US" id="label_ExtinguishmentOfDebtAmount_2">Loan paid off</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExtinguishmentOfDebtAmount" xlink:to="label_ExtinguishmentOfDebtAmount_2" xlink:title="label: ExtinguishmentOfDebtAmount to label_ExtinguishmentOfDebtAmount" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:label="FairValueByFairValueHierarchyLevelAxis" xlink:title="FairValueByFairValueHierarchyLevelAxis" />
    <link:label xlink:type="resource" xlink:label="label_FairValueByFairValueHierarchyLevelAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FairValueByFairValueHierarchyLevelAxis" xml:lang="en-US" id="label_FairValueByFairValueHierarchyLevelAxis">Fair Value, Hierarchy [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueByFairValueHierarchyLevelAxis" xlink:to="label_FairValueByFairValueHierarchyLevelAxis" xlink:title="label: FairValueByFairValueHierarchyLevelAxis to label_FairValueByFairValueHierarchyLevelAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueInputsDiscountRate" xlink:label="FairValueInputsDiscountRate" xlink:title="FairValueInputsDiscountRate" />
    <link:label xlink:type="resource" xlink:label="label_FairValueInputsDiscountRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FairValueInputsDiscountRate" xml:lang="en-US" id="label_FairValueInputsDiscountRate">Fair Value Inputs, Discount Rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueInputsDiscountRate" xlink:to="label_FairValueInputsDiscountRate" xlink:title="label: FairValueInputsDiscountRate to label_FairValueInputsDiscountRate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_FairValueInputsDiscountRate_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FairValueInputsDiscountRate" xml:lang="en-US" id="label_FairValueInputsDiscountRate_2">Discount rate used to value earn out liabilities (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueInputsDiscountRate" xlink:to="label_FairValueInputsDiscountRate_2" xlink:title="label: FairValueInputsDiscountRate to label_FairValueInputsDiscountRate" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueOfAssetsAcquired" xlink:label="FairValueOfAssetsAcquired" xlink:title="FairValueOfAssetsAcquired" />
    <link:label xlink:type="resource" xlink:label="label_FairValueOfAssetsAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FairValueOfAssetsAcquired" xml:lang="en-US" id="label_FairValueOfAssetsAcquired">Fair Value of Assets Acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueOfAssetsAcquired" xlink:to="label_FairValueOfAssetsAcquired" xlink:title="label: FairValueOfAssetsAcquired to label_FairValueOfAssetsAcquired" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_FairValueOfAssetsAcquired_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FairValueOfAssetsAcquired" xml:lang="en-US" id="label_FairValueOfAssetsAcquired_2">Acquisition of real estate investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueOfAssetsAcquired" xlink:to="label_FairValueOfAssetsAcquired_2" xlink:title="label: FairValueOfAssetsAcquired to label_FairValueOfAssetsAcquired" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="FairValueMeasurementsFairValueHierarchyDomain" xlink:title="FairValueMeasurementsFairValueHierarchyDomain" />
    <link:label xlink:type="resource" xlink:label="label_FairValueMeasurementsFairValueHierarchyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FairValueMeasurementsFairValueHierarchyDomain" xml:lang="en-US" id="label_FairValueMeasurementsFairValueHierarchyDomain">Fair Value, Measurements, Fair Value Hierarchy [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueMeasurementsFairValueHierarchyDomain" xlink:to="label_FairValueMeasurementsFairValueHierarchyDomain" xlink:title="label: FairValueMeasurementsFairValueHierarchyDomain to label_FairValueMeasurementsFairValueHierarchyDomain" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueDisclosuresAbstract" xlink:label="FairValueDisclosuresAbstract" xlink:title="FairValueDisclosuresAbstract" />
    <link:label xlink:type="resource" xlink:label="label_FairValueDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FairValueDisclosuresAbstract" xml:lang="en-US" id="label_FairValueDisclosuresAbstract">Fair Value Measurements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueDisclosuresAbstract" xlink:to="label_FairValueDisclosuresAbstract" xlink:title="label: FairValueDisclosuresAbstract to label_FairValueDisclosuresAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueDisclosuresTextBlock" xlink:label="FairValueDisclosuresTextBlock" xlink:title="FairValueDisclosuresTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_FairValueDisclosuresTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FairValueDisclosuresTextBlock" xml:lang="en-US" id="label_FairValueDisclosuresTextBlock">Fair Value Disclosures [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueDisclosuresTextBlock" xlink:to="label_FairValueDisclosuresTextBlock" xlink:title="label: FairValueDisclosuresTextBlock to label_FairValueDisclosuresTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_FairValueDisclosuresTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FairValueDisclosuresTextBlock" xml:lang="en-US" id="label_FairValueDisclosuresTextBlock_2">Fair Value Measurements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueDisclosuresTextBlock" xlink:to="label_FairValueDisclosuresTextBlock_2" xlink:title="label: FairValueDisclosuresTextBlock to label_FairValueDisclosuresTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:label="FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:title="FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xml:lang="en-US" id="label_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems">Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:to="label_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:title="label: FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems to label_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xml:lang="en-US" id="label_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_2">Value Measurements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:to="label_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_2" xlink:title="label: FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems to label_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:label="FairValueOfFinancialInstrumentsPolicy" xlink:title="FairValueOfFinancialInstrumentsPolicy" />
    <link:label xlink:type="resource" xlink:label="label_FairValueOfFinancialInstrumentsPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FairValueOfFinancialInstrumentsPolicy" xml:lang="en-US" id="label_FairValueOfFinancialInstrumentsPolicy">Fair Value of Financial Instruments, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueOfFinancialInstrumentsPolicy" xlink:to="label_FairValueOfFinancialInstrumentsPolicy" xlink:title="label: FairValueOfFinancialInstrumentsPolicy to label_FairValueOfFinancialInstrumentsPolicy" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_FairValueOfFinancialInstrumentsPolicy_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FairValueOfFinancialInstrumentsPolicy" xml:lang="en-US" id="label_FairValueOfFinancialInstrumentsPolicy_2">Fair Value of Financial Instruments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueOfFinancialInstrumentsPolicy" xlink:to="label_FairValueOfFinancialInstrumentsPolicy_2" xlink:title="label: FairValueOfFinancialInstrumentsPolicy to label_FairValueOfFinancialInstrumentsPolicy" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:label="FairValueByBalanceSheetGroupingTextBlock" xlink:title="FairValueByBalanceSheetGroupingTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_FairValueByBalanceSheetGroupingTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FairValueByBalanceSheetGroupingTextBlock" xml:lang="en-US" id="label_FairValueByBalanceSheetGroupingTextBlock">Fair Value, by Balance Sheet Grouping [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueByBalanceSheetGroupingTextBlock" xlink:to="label_FairValueByBalanceSheetGroupingTextBlock" xlink:title="label: FairValueByBalanceSheetGroupingTextBlock to label_FairValueByBalanceSheetGroupingTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_FairValueByBalanceSheetGroupingTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FairValueByBalanceSheetGroupingTextBlock" xml:lang="en-US" id="label_FairValueByBalanceSheetGroupingTextBlock_2">Schedule of carrying value and fair value of the entity's financial instruments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueByBalanceSheetGroupingTextBlock" xlink:to="label_FairValueByBalanceSheetGroupingTextBlock_2" xlink:title="label: FairValueByBalanceSheetGroupingTextBlock to label_FairValueByBalanceSheetGroupingTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueDisclosureItemAmountsDomain" xlink:label="FairValueDisclosureItemAmountsDomain" xlink:title="FairValueDisclosureItemAmountsDomain" />
    <link:label xlink:type="resource" xlink:label="label_FairValueDisclosureItemAmountsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FairValueDisclosureItemAmountsDomain" xml:lang="en-US" id="label_FairValueDisclosureItemAmountsDomain">Fair Value, Disclosure Item Amounts [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueDisclosureItemAmountsDomain" xlink:to="label_FairValueDisclosureItemAmountsDomain" xlink:title="label: FairValueDisclosureItemAmountsDomain to label_FairValueDisclosureItemAmountsDomain" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueByBalanceSheetGroupingTable" xlink:label="FairValueByBalanceSheetGroupingTable" xlink:title="FairValueByBalanceSheetGroupingTable" />
    <link:label xlink:type="resource" xlink:label="label_FairValueByBalanceSheetGroupingTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FairValueByBalanceSheetGroupingTable" xml:lang="en-US" id="label_FairValueByBalanceSheetGroupingTable">Fair Value, by Balance Sheet Grouping [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueByBalanceSheetGroupingTable" xlink:to="label_FairValueByBalanceSheetGroupingTable" xlink:title="label: FairValueByBalanceSheetGroupingTable to label_FairValueByBalanceSheetGroupingTable" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueByBalanceSheetGroupingDisclosureItemAmountsAxis" xlink:label="FairValueByBalanceSheetGroupingDisclosureItemAmountsAxis" xlink:title="FairValueByBalanceSheetGroupingDisclosureItemAmountsAxis" />
    <link:label xlink:type="resource" xlink:label="label_FairValueByBalanceSheetGroupingDisclosureItemAmountsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FairValueByBalanceSheetGroupingDisclosureItemAmountsAxis" xml:lang="en-US" id="label_FairValueByBalanceSheetGroupingDisclosureItemAmountsAxis">Fair Value, by Balance Sheet Grouping, Disclosure Item Amounts [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueByBalanceSheetGroupingDisclosureItemAmountsAxis" xlink:to="label_FairValueByBalanceSheetGroupingDisclosureItemAmountsAxis" xlink:title="label: FairValueByBalanceSheetGroupingDisclosureItemAmountsAxis to label_FairValueByBalanceSheetGroupingDisclosureItemAmountsAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueInputsLevel3Member" xlink:label="FairValueInputsLevel3Member" xlink:title="FairValueInputsLevel3Member" />
    <link:label xlink:type="resource" xlink:label="label_FairValueInputsLevel3Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FairValueInputsLevel3Member" xml:lang="en-US" id="label_FairValueInputsLevel3Member">Fair Value, Inputs, Level 3 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueInputsLevel3Member" xlink:to="label_FairValueInputsLevel3Member" xlink:title="label: FairValueInputsLevel3Member to label_FairValueInputsLevel3Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_FairValueInputsLevel3Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FairValueInputsLevel3Member" xml:lang="en-US" id="label_FairValueInputsLevel3Member_2">Level 3</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueInputsLevel3Member" xlink:to="label_FairValueInputsLevel3Member_2" xlink:title="label: FairValueInputsLevel3Member to label_FairValueInputsLevel3Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueInputsLevel2Member" xlink:label="FairValueInputsLevel2Member" xlink:title="FairValueInputsLevel2Member" />
    <link:label xlink:type="resource" xlink:label="label_FairValueInputsLevel2Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FairValueInputsLevel2Member" xml:lang="en-US" id="label_FairValueInputsLevel2Member">Fair Value, Inputs, Level 2 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueInputsLevel2Member" xlink:to="label_FairValueInputsLevel2Member" xlink:title="label: FairValueInputsLevel2Member to label_FairValueInputsLevel2Member" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_FairValueInputsLevel2Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FairValueInputsLevel2Member" xml:lang="en-US" id="label_FairValueInputsLevel2Member_2">Level 2</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueInputsLevel2Member" xlink:to="label_FairValueInputsLevel2Member_2" xlink:title="label: FairValueInputsLevel2Member to label_FairValueInputsLevel2Member" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FinancingDomain" xlink:label="FinancingDomain" xlink:title="FinancingDomain" />
    <link:label xlink:type="resource" xlink:label="label_FinancingDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancingDomain" xml:lang="en-US" id="label_FinancingDomain">Financing [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancingDomain" xlink:to="label_FinancingDomain" xlink:title="label: FinancingDomain to label_FinancingDomain" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FinancingAxis" xlink:label="FinancingAxis" xlink:title="FinancingAxis" />
    <link:label xlink:type="resource" xlink:label="label_FinancingAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancingAxis" xml:lang="en-US" id="label_FinancingAxis">Financing [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancingAxis" xlink:to="label_FinancingAxis" xlink:title="label: FinancingAxis to label_FinancingAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FirstMortgageMember" xlink:label="FirstMortgageMember" xlink:title="FirstMortgageMember" />
    <link:label xlink:type="resource" xlink:label="label_FirstMortgageMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FirstMortgageMember" xml:lang="en-US" id="label_FirstMortgageMember">First Mortgage [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FirstMortgageMember" xlink:to="label_FirstMortgageMember" xlink:title="label: FirstMortgageMember to label_FirstMortgageMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_FirstMortgageMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FirstMortgageMember" xml:lang="en-US" id="label_FirstMortgageMember_2">First-lien mortgage loans</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FirstMortgageMember" xlink:to="label_FirstMortgageMember_2" xlink:title="label: FirstMortgageMember to label_FirstMortgageMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FurnitureAndFixturesMember" xlink:label="FurnitureAndFixturesMember" xlink:title="FurnitureAndFixturesMember" />
    <link:label xlink:type="resource" xlink:label="label_FurnitureAndFixturesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FurnitureAndFixturesMember" xml:lang="en-US" id="label_FurnitureAndFixturesMember">Furniture and Fixtures [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FurnitureAndFixturesMember" xlink:to="label_FurnitureAndFixturesMember" xlink:title="label: FurnitureAndFixturesMember to label_FurnitureAndFixturesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_FurnitureAndFixturesMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FurnitureAndFixturesMember" xml:lang="en-US" id="label_FurnitureAndFixturesMember_2">Furniture and equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FurnitureAndFixturesMember" xlink:to="label_FurnitureAndFixturesMember_2" xlink:title="label: FurnitureAndFixturesMember to label_FurnitureAndFixturesMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_GainLossOnDispositionOfRealEstateDiscontinuedOperations" xlink:label="GainLossOnDispositionOfRealEstateDiscontinuedOperations" xlink:title="GainLossOnDispositionOfRealEstateDiscontinuedOperations" />
    <link:label xlink:type="resource" xlink:label="label_GainLossOnDispositionOfRealEstateDiscontinuedOperations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GainLossOnDispositionOfRealEstateDiscontinuedOperations" xml:lang="en-US" id="label_GainLossOnDispositionOfRealEstateDiscontinuedOperations">Gain on sale of property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainLossOnDispositionOfRealEstateDiscontinuedOperations" xlink:to="label_GainLossOnDispositionOfRealEstateDiscontinuedOperations" xlink:title="label: GainLossOnDispositionOfRealEstateDiscontinuedOperations to label_GainLossOnDispositionOfRealEstateDiscontinuedOperations" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_GainLossOnDispositionOfRealEstateDiscontinuedOperations_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GainLossOnDispositionOfRealEstateDiscontinuedOperations" xml:lang="en-US" id="label_GainLossOnDispositionOfRealEstateDiscontinuedOperations_2">Gain (Loss) on Disposition of Real Estate, Discontinued Operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainLossOnDispositionOfRealEstateDiscontinuedOperations" xlink:to="label_GainLossOnDispositionOfRealEstateDiscontinuedOperations_2" xlink:title="label: GainLossOnDispositionOfRealEstateDiscontinuedOperations to label_GainLossOnDispositionOfRealEstateDiscontinuedOperations" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="GeneralAndAdministrativeExpense" xlink:title="GeneralAndAdministrativeExpense" />
    <link:label xlink:type="resource" xlink:label="label_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GeneralAndAdministrativeExpense" xml:lang="en-US" id="label_GeneralAndAdministrativeExpense">General and Administrative Expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GeneralAndAdministrativeExpense" xlink:to="label_GeneralAndAdministrativeExpense" xlink:title="label: GeneralAndAdministrativeExpense to label_GeneralAndAdministrativeExpense" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_GeneralAndAdministrativeExpense_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GeneralAndAdministrativeExpense" xml:lang="en-US" id="label_GeneralAndAdministrativeExpense_2">General and administrative expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GeneralAndAdministrativeExpense" xlink:to="label_GeneralAndAdministrativeExpense_2" xlink:title="label: GeneralAndAdministrativeExpense to label_GeneralAndAdministrativeExpense" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:label="ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:title="ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xml:lang="en-US" id="label_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock">Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:to="label_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:title="label: ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock to label_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" use="optional" />
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    <link:label xlink:type="resource" xlink:label="label_InterestReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestReceivable" xml:lang="en-US" id="label_InterestReceivable">Interest Receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestReceivable" xlink:to="label_InterestReceivable" xlink:title="label: InterestReceivable to label_InterestReceivable" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InterestReceivable_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InterestReceivable" xml:lang="en-US" id="label_InterestReceivable_2">Interest receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestReceivable" xlink:to="label_InterestReceivable_2" xlink:title="label: InterestReceivable to label_InterestReceivable" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:label="InvestmentIncomeInterest" xlink:title="InvestmentIncomeInterest" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentIncomeInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentIncomeInterest" xml:lang="en-US" id="label_InvestmentIncomeInterest">Interest income recognized from investment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentIncomeInterest" xlink:to="label_InvestmentIncomeInterest" xlink:title="label: InvestmentIncomeInterest to label_InvestmentIncomeInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentIncomeInterest_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentIncomeInterest" xml:lang="en-US" id="label_InvestmentIncomeInterest_2">Investment Income, Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentIncomeInterest" xlink:to="label_InvestmentIncomeInterest_2" xlink:title="label: InvestmentIncomeInterest to label_InvestmentIncomeInterest" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InvestmentBuildingAndBuildingImprovements" xlink:label="InvestmentBuildingAndBuildingImprovements" xlink:title="InvestmentBuildingAndBuildingImprovements" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentBuildingAndBuildingImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentBuildingAndBuildingImprovements" xml:lang="en-US" id="label_InvestmentBuildingAndBuildingImprovements">Investment Building and Building Improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentBuildingAndBuildingImprovements" xlink:to="label_InvestmentBuildingAndBuildingImprovements" xlink:title="label: InvestmentBuildingAndBuildingImprovements to label_InvestmentBuildingAndBuildingImprovements" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentBuildingAndBuildingImprovements_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentBuildingAndBuildingImprovements" xml:lang="en-US" id="label_InvestmentBuildingAndBuildingImprovements_2">Buildings and improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentBuildingAndBuildingImprovements" xlink:to="label_InvestmentBuildingAndBuildingImprovements_2" xlink:title="label: InvestmentBuildingAndBuildingImprovements to label_InvestmentBuildingAndBuildingImprovements" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InvestmentTypeCategorizationMember" xlink:label="InvestmentTypeCategorizationMember" xlink:title="InvestmentTypeCategorizationMember" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentTypeCategorizationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentTypeCategorizationMember" xml:lang="en-US" id="label_InvestmentTypeCategorizationMember">Investment Type Categorization [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentTypeCategorizationMember" xlink:to="label_InvestmentTypeCategorizationMember" xlink:title="label: InvestmentTypeCategorizationMember to label_InvestmentTypeCategorizationMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InvestmentTypeAxis" xlink:label="InvestmentTypeAxis" xlink:title="InvestmentTypeAxis" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentTypeAxis" xml:lang="en-US" id="label_InvestmentTypeAxis">Investment Type [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentTypeAxis" xlink:to="label_InvestmentTypeAxis" xlink:title="label: InvestmentTypeAxis to label_InvestmentTypeAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract" xlink:label="InvestmentsDebtAndEquitySecuritiesAbstract" xlink:title="InvestmentsDebtAndEquitySecuritiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsDebtAndEquitySecuritiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentsDebtAndEquitySecuritiesAbstract" xml:lang="en-US" id="label_InvestmentsDebtAndEquitySecuritiesAbstract">Marketable Securities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsDebtAndEquitySecuritiesAbstract" xlink:to="label_InvestmentsDebtAndEquitySecuritiesAbstract" xlink:title="label: InvestmentsDebtAndEquitySecuritiesAbstract to label_InvestmentsDebtAndEquitySecuritiesAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IssuanceOfDebtMember" xlink:label="IssuanceOfDebtMember" xlink:title="IssuanceOfDebtMember" />
    <link:label xlink:type="resource" xlink:label="label_IssuanceOfDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IssuanceOfDebtMember" xml:lang="en-US" id="label_IssuanceOfDebtMember">Issuance of Debt [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssuanceOfDebtMember" xlink:to="label_IssuanceOfDebtMember" xlink:title="label: IssuanceOfDebtMember to label_IssuanceOfDebtMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_IssuanceOfDebtMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IssuanceOfDebtMember" xml:lang="en-US" id="label_IssuanceOfDebtMember_2">Issuance of debt</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssuanceOfDebtMember" xlink:to="label_IssuanceOfDebtMember_2" xlink:title="label: IssuanceOfDebtMember to label_IssuanceOfDebtMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LandSubjectToGroundLeases" xlink:label="LandSubjectToGroundLeases" xlink:title="LandSubjectToGroundLeases" />
    <link:label xlink:type="resource" xlink:label="label_LandSubjectToGroundLeases" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LandSubjectToGroundLeases" xml:lang="en-US" id="label_LandSubjectToGroundLeases">Area of vacant parcel of land (in acres)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandSubjectToGroundLeases" xlink:to="label_LandSubjectToGroundLeases" xlink:title="label: LandSubjectToGroundLeases to label_LandSubjectToGroundLeases" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LandSubjectToGroundLeases_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LandSubjectToGroundLeases" xml:lang="en-US" id="label_LandSubjectToGroundLeases_2">Land Subject to Ground Leases</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandSubjectToGroundLeases" xlink:to="label_LandSubjectToGroundLeases_2" xlink:title="label: LandSubjectToGroundLeases to label_LandSubjectToGroundLeases" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_Land" xlink:label="Land" xlink:title="Land" />
    <link:label xlink:type="resource" xlink:label="label_Land" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Land" xml:lang="en-US" id="label_Land">Land</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Land" xlink:to="label_Land" xlink:title="label: Land to label_Land" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Land_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Land" xml:lang="en-US" id="label_Land_2">Land</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Land" xlink:to="label_Land_2" xlink:title="label: Land to label_Land" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LandMember" xlink:label="LandMember" xlink:title="LandMember" />
    <link:label xlink:type="resource" xlink:label="label_LandMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LandMember" xml:lang="en-US" id="label_LandMember">Land [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandMember" xlink:to="label_LandMember" xlink:title="label: LandMember to label_LandMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LandMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LandMember" xml:lang="en-US" id="label_LandMember_2">Land</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandMember" xlink:to="label_LandMember_2" xlink:title="label: LandMember to label_LandMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LeasesOperatingAbstract" xlink:label="LeasesOperatingAbstract" xlink:title="LeasesOperatingAbstract" />
    <link:label xlink:type="resource" xlink:label="label_LeasesOperatingAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeasesOperatingAbstract" xml:lang="en-US" id="label_LeasesOperatingAbstract">Leases, Operating [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasesOperatingAbstract" xlink:to="label_LeasesOperatingAbstract" xlink:title="label: LeasesOperatingAbstract to label_LeasesOperatingAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LeasesOperatingAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeasesOperatingAbstract" xml:lang="en-US" id="label_LeasesOperatingAbstract_2">Operating leases</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasesOperatingAbstract" xlink:to="label_LeasesOperatingAbstract_2" xlink:title="label: LeasesOperatingAbstract to label_LeasesOperatingAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="LiabilitiesCurrent" xlink:title="LiabilitiesCurrent" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LiabilitiesCurrent" xml:lang="en-US" id="label_LiabilitiesCurrent">Liabilities, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesCurrent" xlink:to="label_LiabilitiesCurrent" xlink:title="label: LiabilitiesCurrent to label_LiabilitiesCurrent" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesCurrent_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LiabilitiesCurrent" xml:lang="en-US" id="label_LiabilitiesCurrent_2">Current liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesCurrent" xlink:to="label_LiabilitiesCurrent_2" xlink:title="label: LiabilitiesCurrent to label_LiabilitiesCurrent" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesNoncurrent" xlink:label="LiabilitiesNoncurrent" xlink:title="LiabilitiesNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LiabilitiesNoncurrent" xml:lang="en-US" id="label_LiabilitiesNoncurrent">Liabilities, Noncurrent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesNoncurrent" xlink:to="label_LiabilitiesNoncurrent" xlink:title="label: LiabilitiesNoncurrent to label_LiabilitiesNoncurrent" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesNoncurrent_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LiabilitiesNoncurrent" xml:lang="en-US" id="label_LiabilitiesNoncurrent_2">Non-current liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesNoncurrent" xlink:to="label_LiabilitiesNoncurrent_2" xlink:title="label: LiabilitiesNoncurrent to label_LiabilitiesNoncurrent" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_Liabilities" xlink:label="Liabilities" xlink:title="Liabilities" />
    <link:label xlink:type="resource" xlink:label="label_Liabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Liabilities" xml:lang="en-US" id="label_Liabilities">Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Liabilities" xlink:to="label_Liabilities" xlink:title="label: Liabilities to label_Liabilities" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Liabilities_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_Liabilities" xml:lang="en-US" id="label_Liabilities_2">Total liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Liabilities" xlink:to="label_Liabilities_2" xlink:title="label: Liabilities to label_Liabilities" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="LiabilitiesAndStockholdersEquityAbstract" xlink:title="LiabilitiesAndStockholdersEquityAbstract" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesAndStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LiabilitiesAndStockholdersEquityAbstract" xml:lang="en-US" id="label_LiabilitiesAndStockholdersEquityAbstract">Liabilities and Equity [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesAndStockholdersEquityAbstract" xlink:to="label_LiabilitiesAndStockholdersEquityAbstract" xlink:title="label: LiabilitiesAndStockholdersEquityAbstract to label_LiabilitiesAndStockholdersEquityAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesAndStockholdersEquityAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LiabilitiesAndStockholdersEquityAbstract" xml:lang="en-US" id="label_LiabilitiesAndStockholdersEquityAbstract_2">LIABILITIES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesAndStockholdersEquityAbstract" xlink:to="label_LiabilitiesAndStockholdersEquityAbstract_2" xlink:title="label: LiabilitiesAndStockholdersEquityAbstract to label_LiabilitiesAndStockholdersEquityAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesOfAssetsHeldForSale" xlink:label="LiabilitiesOfAssetsHeldForSale" xlink:title="LiabilitiesOfAssetsHeldForSale" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesOfAssetsHeldForSale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LiabilitiesOfAssetsHeldForSale" xml:lang="en-US" id="label_LiabilitiesOfAssetsHeldForSale">Liabilities of Assets Held-for-sale</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesOfAssetsHeldForSale" xlink:to="label_LiabilitiesOfAssetsHeldForSale" xlink:title="label: LiabilitiesOfAssetsHeldForSale to label_LiabilitiesOfAssetsHeldForSale" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesOfAssetsHeldForSale_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LiabilitiesOfAssetsHeldForSale" xml:lang="en-US" id="label_LiabilitiesOfAssetsHeldForSale_2">Accrued expenses and other liabilities related to properties held-for-sale</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesOfAssetsHeldForSale" xlink:to="label_LiabilitiesOfAssetsHeldForSale_2" xlink:title="label: LiabilitiesOfAssetsHeldForSale to label_LiabilitiesOfAssetsHeldForSale" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="LiabilitiesAndStockholdersEquity" xlink:title="LiabilitiesAndStockholdersEquity" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesAndStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LiabilitiesAndStockholdersEquity" xml:lang="en-US" id="label_LiabilitiesAndStockholdersEquity">Liabilities and Equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesAndStockholdersEquity" xlink:to="label_LiabilitiesAndStockholdersEquity" xlink:title="label: LiabilitiesAndStockholdersEquity to label_LiabilitiesAndStockholdersEquity" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesAndStockholdersEquity_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_LiabilitiesAndStockholdersEquity" xml:lang="en-US" id="label_LiabilitiesAndStockholdersEquity_2">Total liabilities and equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesAndStockholdersEquity" xlink:to="label_LiabilitiesAndStockholdersEquity_2" xlink:title="label: LiabilitiesAndStockholdersEquity to label_LiabilitiesAndStockholdersEquity" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="LineOfCreditFacilityMaximumBorrowingCapacity" xlink:title="LineOfCreditFacilityMaximumBorrowingCapacity" />
    <link:label xlink:type="resource" xlink:label="label_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LineOfCreditFacilityMaximumBorrowingCapacity" xml:lang="en-US" id="label_LineOfCreditFacilityMaximumBorrowingCapacity">Line of Credit Facility, Maximum Borrowing Capacity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="label_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:title="label: LineOfCreditFacilityMaximumBorrowingCapacity to label_LineOfCreditFacilityMaximumBorrowingCapacity" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_LineOfCreditFacilityMaximumBorrowingCapacity_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LineOfCreditFacilityMaximumBorrowingCapacity" xml:lang="en-US" id="label_LineOfCreditFacilityMaximumBorrowingCapacity_2">Maximum availability under Unsecured Credit Agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="label_LineOfCreditFacilityMaximumBorrowingCapacity_2" xlink:title="label: LineOfCreditFacilityMaximumBorrowingCapacity to label_LineOfCreditFacilityMaximumBorrowingCapacity" use="optional" />
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    <link:label xlink:type="resource" xlink:label="label_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage" xml:lang="en-US" id="label_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage">Line of Credit Facility, Unused Capacity, Commitment Fee Percentage</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LineOfCreditFacilityIncreaseAdditionalBorrowings" xlink:label="LineOfCreditFacilityIncreaseAdditionalBorrowings" xlink:title="LineOfCreditFacilityIncreaseAdditionalBorrowings" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongTermDebt" xlink:label="LongTermDebt" xlink:title="LongTermDebt" />
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    <link:label xlink:type="resource" xlink:label="label_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xml:lang="en-US" id="label_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_2">Thereafter</link:label>
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    <link:label xlink:type="resource" xlink:label="label_MarketableSecuritiesPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MarketableSecuritiesPolicy" xml:lang="en-US" id="label_MarketableSecuritiesPolicy">Marketable Securities, Policy [Policy Text Block]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_MaximumMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MaximumMember" xml:lang="en-US" id="label_MaximumMember_2">Maximum</link:label>
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    <link:label xlink:type="resource" xlink:label="label_MinimumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MinimumMember" xml:lang="en-US" id="label_MinimumMember">Minimum [Member]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateOtherDeductions" xlink:label="MortgageLoansOnRealEstateOtherDeductions" xlink:title="MortgageLoansOnRealEstateOtherDeductions" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateOtherDeductions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateOtherDeductions" xml:lang="en-US" id="label_MortgageLoansOnRealEstateOtherDeductions">Mortgage Loans on Real Estate, Other Deductions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateOtherDeductions" xlink:to="label_MortgageLoansOnRealEstateOtherDeductions" xlink:title="label: MortgageLoansOnRealEstateOtherDeductions to label_MortgageLoansOnRealEstateOtherDeductions" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateOtherDeductions_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_MortgageLoansOnRealEstateOtherDeductions" xml:lang="en-US" id="label_MortgageLoansOnRealEstateOtherDeductions_2">Other Deductions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateOtherDeductions" xlink:to="label_MortgageLoansOnRealEstateOtherDeductions_2" xlink:title="label: MortgageLoansOnRealEstateOtherDeductions to label_MortgageLoansOnRealEstateOtherDeductions" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateByLoanDisclosureTextBlock" xlink:label="MortgageLoansOnRealEstateByLoanDisclosureTextBlock" xlink:title="MortgageLoansOnRealEstateByLoanDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateByLoanDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateByLoanDisclosureTextBlock" xml:lang="en-US" id="label_MortgageLoansOnRealEstateByLoanDisclosureTextBlock">Mortgage Loans on Real Estate, by Loan Disclosure [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateByLoanDisclosureTextBlock" xlink:to="label_MortgageLoansOnRealEstateByLoanDisclosureTextBlock" xlink:title="label: MortgageLoansOnRealEstateByLoanDisclosureTextBlock to label_MortgageLoansOnRealEstateByLoanDisclosureTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateByLoanDisclosureTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateByLoanDisclosureTextBlock" xml:lang="en-US" id="label_MortgageLoansOnRealEstateByLoanDisclosureTextBlock_2">SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateByLoanDisclosureTextBlock" xlink:to="label_MortgageLoansOnRealEstateByLoanDisclosureTextBlock_2" xlink:title="label: MortgageLoansOnRealEstateByLoanDisclosureTextBlock to label_MortgageLoansOnRealEstateByLoanDisclosureTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans" xlink:label="MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans" xlink:title="MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans" xml:lang="en-US" id="label_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans">Mortgage Loans on Real Estate, Principal Amount of Delinquent Loans</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans" xlink:to="label_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans" xlink:title="label: MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans to label_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans" xml:lang="en-US" id="label_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans_2">Principal Amount of Loans Subject to Delinquent Principal or Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans" xlink:to="label_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans_2" xlink:title="label: MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans to label_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateInterestRate" xlink:label="MortgageLoansOnRealEstateInterestRate" xlink:title="MortgageLoansOnRealEstateInterestRate" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateInterestRate" xml:lang="en-US" id="label_MortgageLoansOnRealEstateInterestRate">Mortgage Loans on Real Estate, Interest Rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateInterestRate" xlink:to="label_MortgageLoansOnRealEstateInterestRate" xlink:title="label: MortgageLoansOnRealEstateInterestRate to label_MortgageLoansOnRealEstateInterestRate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateInterestRate_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateInterestRate" xml:lang="en-US" id="label_MortgageLoansOnRealEstateInterestRate_2">Interest rate for mortgage loans (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateInterestRate" xlink:to="label_MortgageLoansOnRealEstateInterestRate_2" xlink:title="label: MortgageLoansOnRealEstateInterestRate to label_MortgageLoansOnRealEstateInterestRate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateInterestRate_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_MortgageLoansOnRealEstateInterestRate" xml:lang="en-US" id="label_MortgageLoansOnRealEstateInterestRate_3">Interest Rate (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateInterestRate" xlink:to="label_MortgageLoansOnRealEstateInterestRate_3" xlink:title="label: MortgageLoansOnRealEstateInterestRate to label_MortgageLoansOnRealEstateInterestRate" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateMember" xlink:label="MortgageLoansOnRealEstateMember" xlink:title="MortgageLoansOnRealEstateMember" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateMember" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMember">Mortgage Loans on Real Estate [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMember" xlink:to="label_MortgageLoansOnRealEstateMember" xlink:title="label: MortgageLoansOnRealEstateMember to label_MortgageLoansOnRealEstateMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateMember" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMember_2">Mortgage Loans</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMember" xlink:to="label_MortgageLoansOnRealEstateMember_2" xlink:title="label: MortgageLoansOnRealEstateMember to label_MortgageLoansOnRealEstateMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateLoanCategoryDomain" xlink:label="MortgageLoansOnRealEstateLoanCategoryDomain" xlink:title="MortgageLoansOnRealEstateLoanCategoryDomain" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateLoanCategoryDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateLoanCategoryDomain" xml:lang="en-US" id="label_MortgageLoansOnRealEstateLoanCategoryDomain">Mortgage Loans on Real Estate, Loan Category [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateLoanCategoryDomain" xlink:to="label_MortgageLoansOnRealEstateLoanCategoryDomain" xlink:title="label: MortgageLoansOnRealEstateLoanCategoryDomain to label_MortgageLoansOnRealEstateLoanCategoryDomain" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateNewMortgageLoans" xlink:label="MortgageLoansOnRealEstateNewMortgageLoans" xlink:title="MortgageLoansOnRealEstateNewMortgageLoans" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateNewMortgageLoans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateNewMortgageLoans" xml:lang="en-US" id="label_MortgageLoansOnRealEstateNewMortgageLoans">Mortgage Loans on Real Estate, New Mortgage Loans</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateNewMortgageLoans" xlink:to="label_MortgageLoansOnRealEstateNewMortgageLoans" xlink:title="label: MortgageLoansOnRealEstateNewMortgageLoans to label_MortgageLoansOnRealEstateNewMortgageLoans" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateNewMortgageLoans_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateNewMortgageLoans" xml:lang="en-US" id="label_MortgageLoansOnRealEstateNewMortgageLoans_2">New Mortgage Loans</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateNewMortgageLoans" xlink:to="label_MortgageLoansOnRealEstateNewMortgageLoans_2" xlink:title="label: MortgageLoansOnRealEstateNewMortgageLoans to label_MortgageLoansOnRealEstateNewMortgageLoans" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:label="MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:title="MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xml:lang="en-US" id="label_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis">Real Estate, Type of Property [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:to="label_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:title="label: MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis to label_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateOriginalLoanAmountAxis" xlink:label="MortgageLoansOnRealEstateOriginalLoanAmountAxis" xlink:title="MortgageLoansOnRealEstateOriginalLoanAmountAxis" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateOriginalLoanAmountAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateOriginalLoanAmountAxis" xml:lang="en-US" id="label_MortgageLoansOnRealEstateOriginalLoanAmountAxis">Mortgage Loan, Original Amount [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateOriginalLoanAmountAxis" xlink:to="label_MortgageLoansOnRealEstateOriginalLoanAmountAxis" xlink:title="label: MortgageLoansOnRealEstateOriginalLoanAmountAxis to label_MortgageLoansOnRealEstateOriginalLoanAmountAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstate" xlink:label="MortgageLoansOnRealEstate" xlink:title="MortgageLoansOnRealEstate" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstate" xml:lang="en-US" id="label_MortgageLoansOnRealEstate">Mortgage Loans on Real Estate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstate" xlink:to="label_MortgageLoansOnRealEstate" xlink:title="label: MortgageLoansOnRealEstate to label_MortgageLoansOnRealEstate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstate_2" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_MortgageLoansOnRealEstate" xml:lang="en-US" id="label_MortgageLoansOnRealEstate_2">Balance at the beginning of the period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstate" xlink:to="label_MortgageLoansOnRealEstate_2" xlink:title="label: MortgageLoansOnRealEstate to label_MortgageLoansOnRealEstate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstate_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstate" xml:lang="en-US" id="label_MortgageLoansOnRealEstate_3">Amount of mortgage loan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstate" xlink:to="label_MortgageLoansOnRealEstate_3" xlink:title="label: MortgageLoansOnRealEstate to label_MortgageLoansOnRealEstate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstate_4" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_MortgageLoansOnRealEstate" xml:lang="en-US" id="label_MortgageLoansOnRealEstate_4">Balance at the end of the period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstate" xlink:to="label_MortgageLoansOnRealEstate_4" xlink:title="label: MortgageLoansOnRealEstate to label_MortgageLoansOnRealEstate" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateAbstract" xlink:label="MortgageLoansOnRealEstateAbstract" xlink:title="MortgageLoansOnRealEstateAbstract" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateAbstract" xml:lang="en-US" id="label_MortgageLoansOnRealEstateAbstract">SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateAbstract" xlink:to="label_MortgageLoansOnRealEstateAbstract" xlink:title="label: MortgageLoansOnRealEstateAbstract to label_MortgageLoansOnRealEstateAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateLineItems" xlink:label="MortgageLoansOnRealEstateLineItems" xlink:title="MortgageLoansOnRealEstateLineItems" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateLineItems" xml:lang="en-US" id="label_MortgageLoansOnRealEstateLineItems">Mortgage Loans on Real Estate [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateLineItems" xlink:to="label_MortgageLoansOnRealEstateLineItems" xlink:title="label: MortgageLoansOnRealEstateLineItems to label_MortgageLoansOnRealEstateLineItems" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateLineItems_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateLineItems" xml:lang="en-US" id="label_MortgageLoansOnRealEstateLineItems_2">Mortgage loans on real estate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateLineItems" xlink:to="label_MortgageLoansOnRealEstateLineItems_2" xlink:title="label: MortgageLoansOnRealEstateLineItems to label_MortgageLoansOnRealEstateLineItems" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateScheduleTable" xlink:label="MortgageLoansOnRealEstateScheduleTable" xlink:title="MortgageLoansOnRealEstateScheduleTable" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateScheduleTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateScheduleTable" xml:lang="en-US" id="label_MortgageLoansOnRealEstateScheduleTable">Mortgage Loans on Real Estate Schedule [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateScheduleTable" xlink:to="label_MortgageLoansOnRealEstateScheduleTable" xlink:title="label: MortgageLoansOnRealEstateScheduleTable to label_MortgageLoansOnRealEstateScheduleTable" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateForeclosures" xlink:label="MortgageLoansOnRealEstateForeclosures" xlink:title="MortgageLoansOnRealEstateForeclosures" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateForeclosures" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateForeclosures" xml:lang="en-US" id="label_MortgageLoansOnRealEstateForeclosures">Mortgage Loans on Real Estate, Foreclosures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateForeclosures" xlink:to="label_MortgageLoansOnRealEstateForeclosures" xlink:title="label: MortgageLoansOnRealEstateForeclosures to label_MortgageLoansOnRealEstateForeclosures" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateForeclosures_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_MortgageLoansOnRealEstateForeclosures" xml:lang="en-US" id="label_MortgageLoansOnRealEstateForeclosures_2">Foreclosures</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateCollectionsOfPrincipal" xlink:label="MortgageLoansOnRealEstateCollectionsOfPrincipal" xlink:title="MortgageLoansOnRealEstateCollectionsOfPrincipal" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateOriginalLoanAmountDomain" xlink:label="MortgageLoansOnRealEstateOriginalLoanAmountDomain" xlink:title="MortgageLoansOnRealEstateOriginalLoanAmountDomain" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateOtherAdditions" xlink:label="MortgageLoansOnRealEstateOtherAdditions" xlink:title="MortgageLoansOnRealEstateOtherAdditions" />
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    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateOtherAdditions_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateOtherAdditions" xml:lang="en-US" id="label_MortgageLoansOnRealEstateOtherAdditions_2">Other Additions</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstatePeriodicPaymentTermsBalloonPaymentAmount" xlink:label="MortgageLoansOnRealEstatePeriodicPaymentTermsBalloonPaymentAmount" xlink:title="MortgageLoansOnRealEstatePeriodicPaymentTermsBalloonPaymentAmount" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateFaceAmountOfMortgages" xlink:label="MortgageLoansOnRealEstateFaceAmountOfMortgages" xlink:title="MortgageLoansOnRealEstateFaceAmountOfMortgages" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateFaceAmountOfMortgages" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateFaceAmountOfMortgages" xml:lang="en-US" id="label_MortgageLoansOnRealEstateFaceAmountOfMortgages">Mortgage Loans on Real Estate, Face Amount of Mortgages</link:label>
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    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateFaceAmountOfMortgages_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateFaceAmountOfMortgages" xml:lang="en-US" id="label_MortgageLoansOnRealEstateFaceAmountOfMortgages_2">Face Amount of Mortgages</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateWriteDownOrReserveAmount" xlink:label="MortgageLoansOnRealEstateWriteDownOrReserveAmount" xlink:title="MortgageLoansOnRealEstateWriteDownOrReserveAmount" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateWriteDownOrReserveAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateWriteDownOrReserveAmount" xml:lang="en-US" id="label_MortgageLoansOnRealEstateWriteDownOrReserveAmount">Mortgage Loans on Real Estate, Write-down or Reserve, Amount</link:label>
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    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateWriteDownOrReserveAmount_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateWriteDownOrReserveAmount" xml:lang="en-US" id="label_MortgageLoansOnRealEstateWriteDownOrReserveAmount_2">Provision for doubtful accounts charge</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:label="MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:title="MortgageLoansOnRealEstateNamePropertyTypeDomain" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateNamePropertyTypeDomain" xml:lang="en-US" id="label_MortgageLoansOnRealEstateNamePropertyTypeDomain">Real Estate, Property Type [Domain]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateMinimumInterestRateInRange" xlink:label="MortgageLoansOnRealEstateMinimumInterestRateInRange" xlink:title="MortgageLoansOnRealEstateMinimumInterestRateInRange" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMinimumInterestRateInRange" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateMinimumInterestRateInRange" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMinimumInterestRateInRange">Mortgage Loans on Real Estate, Minimum Interest Rate in Range</link:label>
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    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMinimumInterestRateInRange_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_MortgageLoansOnRealEstateMinimumInterestRateInRange" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMinimumInterestRateInRange_2">Interest Rate, low end of range (as a percent)</link:label>
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    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateMinimumInterestRateInRange_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateMinimumInterestRateInRange" xml:lang="en-US" id="label_MortgageLoansOnRealEstateMinimumInterestRateInRange_3">Interest rate for mortgage loans, low end of range (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMinimumInterestRateInRange" xlink:to="label_MortgageLoansOnRealEstateMinimumInterestRateInRange_3" xlink:title="label: MortgageLoansOnRealEstateMinimumInterestRateInRange to label_MortgageLoansOnRealEstateMinimumInterestRateInRange" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateNumberOfLoans" xlink:label="MortgageLoansOnRealEstateNumberOfLoans" xlink:title="MortgageLoansOnRealEstateNumberOfLoans" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateNumberOfLoans" xml:lang="en-US" id="label_MortgageLoansOnRealEstateNumberOfLoans">Mortgage Loans on Real Estate, Number of Loans</link:label>
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    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateNumberOfLoans_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateNumberOfLoans" xml:lang="en-US" id="label_MortgageLoansOnRealEstateNumberOfLoans_2">Number of Loans</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateDescriptionLoanCategoryAxis" xlink:label="MortgageLoansOnRealEstateDescriptionLoanCategoryAxis" xlink:title="MortgageLoansOnRealEstateDescriptionLoanCategoryAxis" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateDescriptionLoanCategoryAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateDescriptionLoanCategoryAxis" xml:lang="en-US" id="label_MortgageLoansOnRealEstateDescriptionLoanCategoryAxis">Mortgage Loans on Real Estate, Description, Loan Category [Axis]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateAmortizationOfPremium" xlink:label="MortgageLoansOnRealEstateAmortizationOfPremium" xlink:title="MortgageLoansOnRealEstateAmortizationOfPremium" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateAmortizationOfPremium" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateAmortizationOfPremium" xml:lang="en-US" id="label_MortgageLoansOnRealEstateAmortizationOfPremium">Mortgage Loans on Real Estate, Amortization of Premium</link:label>
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    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateAmortizationOfPremium_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_MortgageLoansOnRealEstateAmortizationOfPremium" xml:lang="en-US" id="label_MortgageLoansOnRealEstateAmortizationOfPremium_2">Amortization of mortgage premium</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateCarryingAmountOfMortgages" xlink:label="MortgageLoansOnRealEstateCarryingAmountOfMortgages" xlink:title="MortgageLoansOnRealEstateCarryingAmountOfMortgages" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateCarryingAmountOfMortgages" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateCarryingAmountOfMortgages" xml:lang="en-US" id="label_MortgageLoansOnRealEstateCarryingAmountOfMortgages">Mortgage Loans on Real Estate, Carrying Amount of Mortgages</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateCarryingAmountOfMortgages" xlink:to="label_MortgageLoansOnRealEstateCarryingAmountOfMortgages" xlink:title="label: MortgageLoansOnRealEstateCarryingAmountOfMortgages to label_MortgageLoansOnRealEstateCarryingAmountOfMortgages" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateCarryingAmountOfMortgages_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MortgageLoansOnRealEstateCarryingAmountOfMortgages" xml:lang="en-US" id="label_MortgageLoansOnRealEstateCarryingAmountOfMortgages_2">Carrying Amount of Mortgages</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateCommercialAndConsumerNet" xlink:label="MortgageLoansOnRealEstateCommercialAndConsumerNet" xlink:title="MortgageLoansOnRealEstateCommercialAndConsumerNet" />
    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateCommercialAndConsumerNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MortgageLoansOnRealEstateCommercialAndConsumerNet" xml:lang="en-US" id="label_MortgageLoansOnRealEstateCommercialAndConsumerNet">Mortgage Loans on Real Estate, Commercial and Consumer, Net</link:label>
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    <link:label xlink:type="resource" xlink:label="label_MortgageLoansOnRealEstateCommercialAndConsumerNet_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_MortgageLoansOnRealEstateCommercialAndConsumerNet" xml:lang="en-US" id="label_MortgageLoansOnRealEstateCommercialAndConsumerNet_2">Mortgage loans receivable, net of allowance for doubtful accounts: 2013 - $401; 2012 - $782</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCashProvidedByUsedInOperatingActivities" xlink:to="label_NetCashProvidedByUsedInOperatingActivities_3" xlink:title="label: NetCashProvidedByUsedInOperatingActivities to label_NetCashProvidedByUsedInOperatingActivities" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="NetIncomeLossAttributableToNoncontrollingInterest" xlink:title="NetIncomeLossAttributableToNoncontrollingInterest" />
    <link:label xlink:type="resource" xlink:label="label_NetIncomeLossAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NetIncomeLossAttributableToNoncontrollingInterest" xml:lang="en-US" id="label_NetIncomeLossAttributableToNoncontrollingInterest">Net Income (Loss) Attributable to Noncontrolling Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetIncomeLossAttributableToNoncontrollingInterest" xlink:to="label_NetIncomeLossAttributableToNoncontrollingInterest" xlink:title="label: NetIncomeLossAttributableToNoncontrollingInterest to label_NetIncomeLossAttributableToNoncontrollingInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NetIncomeLossAttributableToNoncontrollingInterest_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_NetIncomeLossAttributableToNoncontrollingInterest" xml:lang="en-US" id="label_NetIncomeLossAttributableToNoncontrollingInterest_2">Income allocated to non-controlling interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetIncomeLossAttributableToNoncontrollingInterest" xlink:to="label_NetIncomeLossAttributableToNoncontrollingInterest_2" xlink:title="label: NetIncomeLossAttributableToNoncontrollingInterest to label_NetIncomeLossAttributableToNoncontrollingInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NetIncomeLossAttributableToNoncontrollingInterest_3" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_NetIncomeLossAttributableToNoncontrollingInterest" xml:lang="en-US" id="label_NetIncomeLossAttributableToNoncontrollingInterest_3">Less net income allocated to non-controlling interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetIncomeLossAttributableToNoncontrollingInterest" xlink:to="label_NetIncomeLossAttributableToNoncontrollingInterest_3" xlink:title="label: NetIncomeLossAttributableToNoncontrollingInterest to label_NetIncomeLossAttributableToNoncontrollingInterest" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:label="NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:title="NewAccountingPronouncementsPolicyPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NewAccountingPronouncementsPolicyPolicyTextBlock" xml:lang="en-US" id="label_NewAccountingPronouncementsPolicyPolicyTextBlock">Impact of New Accounting Pronouncement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:to="label_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:title="label: NewAccountingPronouncementsPolicyPolicyTextBlock to label_NewAccountingPronouncementsPolicyPolicyTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NewAccountingPronouncementsPolicyPolicyTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NewAccountingPronouncementsPolicyPolicyTextBlock" xml:lang="en-US" id="label_NewAccountingPronouncementsPolicyPolicyTextBlock_2">New Accounting Pronouncements, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:to="label_NewAccountingPronouncementsPolicyPolicyTextBlock_2" xlink:title="label: NewAccountingPronouncementsPolicyPolicyTextBlock to label_NewAccountingPronouncementsPolicyPolicyTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NoncashInvestingAndFinancingItemsAbstract" xlink:label="NoncashInvestingAndFinancingItemsAbstract" xlink:title="NoncashInvestingAndFinancingItemsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_NoncashInvestingAndFinancingItemsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncashInvestingAndFinancingItemsAbstract" xml:lang="en-US" id="label_NoncashInvestingAndFinancingItemsAbstract">Noncash Investing and Financing Items [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncashInvestingAndFinancingItemsAbstract" xlink:to="label_NoncashInvestingAndFinancingItemsAbstract" xlink:title="label: NoncashInvestingAndFinancingItemsAbstract to label_NoncashInvestingAndFinancingItemsAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NoncashInvestingAndFinancingItemsAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncashInvestingAndFinancingItemsAbstract" xml:lang="en-US" id="label_NoncashInvestingAndFinancingItemsAbstract_2">Non-cash investing and financing transactions:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncashInvestingAndFinancingItemsAbstract" xlink:to="label_NoncashInvestingAndFinancingItemsAbstract_2" xlink:title="label: NoncashInvestingAndFinancingItemsAbstract to label_NoncashInvestingAndFinancingItemsAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NotesReceivableNet" xlink:label="NotesReceivableNet" xlink:title="NotesReceivableNet" />
    <link:label xlink:type="resource" xlink:label="label_NotesReceivableNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NotesReceivableNet" xml:lang="en-US" id="label_NotesReceivableNet">Financing Receivable, Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotesReceivableNet" xlink:to="label_NotesReceivableNet" xlink:title="label: NotesReceivableNet to label_NotesReceivableNet" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NotesReceivableNet_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NotesReceivableNet" xml:lang="en-US" id="label_NotesReceivableNet_2">Notes receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotesReceivableNet" xlink:to="label_NotesReceivableNet_2" xlink:title="label: NotesReceivableNet to label_NotesReceivableNet" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NotesReceivableNet_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_NotesReceivableNet" xml:lang="en-US" id="label_NotesReceivableNet_3">Carrying Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotesReceivableNet" xlink:to="label_NotesReceivableNet_3" xlink:title="label: NotesReceivableNet to label_NotesReceivableNet" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NotesReceivableNetAbstract" xlink:label="NotesReceivableNetAbstract" xlink:title="NotesReceivableNetAbstract" />
    <link:label xlink:type="resource" xlink:label="label_NotesReceivableNetAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NotesReceivableNetAbstract" xml:lang="en-US" id="label_NotesReceivableNetAbstract">Financing Receivable, Net [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotesReceivableNetAbstract" xlink:to="label_NotesReceivableNetAbstract" xlink:title="label: NotesReceivableNetAbstract to label_NotesReceivableNetAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NotesReceivableNetAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NotesReceivableNetAbstract" xml:lang="en-US" id="label_NotesReceivableNetAbstract_2">Notes Receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotesReceivableNetAbstract" xlink:to="label_NotesReceivableNetAbstract_2" xlink:title="label: NotesReceivableNetAbstract to label_NotesReceivableNetAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NumberOfUnitsInRealEstateProperty" xlink:label="NumberOfUnitsInRealEstateProperty" xlink:title="NumberOfUnitsInRealEstateProperty" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfUnitsInRealEstateProperty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfUnitsInRealEstateProperty" xml:lang="en-US" id="label_NumberOfUnitsInRealEstateProperty">Number of Units in Real Estate Property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfUnitsInRealEstateProperty" xlink:to="label_NumberOfUnitsInRealEstateProperty" xlink:title="label: NumberOfUnitsInRealEstateProperty to label_NumberOfUnitsInRealEstateProperty" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfUnitsInRealEstateProperty_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfUnitsInRealEstateProperty" xml:lang="en-US" id="label_NumberOfUnitsInRealEstateProperty_2">Number of beds/units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfUnitsInRealEstateProperty" xlink:to="label_NumberOfUnitsInRealEstateProperty_2" xlink:title="label: NumberOfUnitsInRealEstateProperty to label_NumberOfUnitsInRealEstateProperty" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NumberOfRealEstateProperties" xlink:label="NumberOfRealEstateProperties" xlink:title="NumberOfRealEstateProperties" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfRealEstateProperties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfRealEstateProperties" xml:lang="en-US" id="label_NumberOfRealEstateProperties">Number of Real Estate Properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfRealEstateProperties" xlink:to="label_NumberOfRealEstateProperties" xlink:title="label: NumberOfRealEstateProperties to label_NumberOfRealEstateProperties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfRealEstateProperties_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfRealEstateProperties" xml:lang="en-US" id="label_NumberOfRealEstateProperties_2">Number of properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfRealEstateProperties" xlink:to="label_NumberOfRealEstateProperties_2" xlink:title="label: NumberOfRealEstateProperties to label_NumberOfRealEstateProperties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfRealEstateProperties_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_NumberOfRealEstateProperties" xml:lang="en-US" id="label_NumberOfRealEstateProperties_3">Properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfRealEstateProperties" xlink:to="label_NumberOfRealEstateProperties_3" xlink:title="label: NumberOfRealEstateProperties to label_NumberOfRealEstateProperties" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfRealEstateProperties_4" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_NumberOfRealEstateProperties" xml:lang="en-US" id="label_NumberOfRealEstateProperties_4">Number of properties owned</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfRealEstateProperties" xlink:to="label_NumberOfRealEstateProperties_4" xlink:title="label: NumberOfRealEstateProperties to label_NumberOfRealEstateProperties" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NumberOfOperatingSegments" xlink:label="NumberOfOperatingSegments" xlink:title="NumberOfOperatingSegments" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfOperatingSegments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfOperatingSegments" xml:lang="en-US" id="label_NumberOfOperatingSegments">Number of Operating Segments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfOperatingSegments" xlink:to="label_NumberOfOperatingSegments" xlink:title="label: NumberOfOperatingSegments to label_NumberOfOperatingSegments" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfOperatingSegments_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfOperatingSegments" xml:lang="en-US" id="label_NumberOfOperatingSegments_2">Number of operating segments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfOperatingSegments" xlink:to="label_NumberOfOperatingSegments_2" xlink:title="label: NumberOfOperatingSegments to label_NumberOfOperatingSegments" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NumberOfBusinessesAcquired" xlink:label="NumberOfBusinessesAcquired" xlink:title="NumberOfBusinessesAcquired" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfBusinessesAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfBusinessesAcquired" xml:lang="en-US" id="label_NumberOfBusinessesAcquired">Number of Businesses Acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfBusinessesAcquired" xlink:to="label_NumberOfBusinessesAcquired" xlink:title="label: NumberOfBusinessesAcquired to label_NumberOfBusinessesAcquired" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfBusinessesAcquired_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfBusinessesAcquired" xml:lang="en-US" id="label_NumberOfBusinessesAcquired_2">Number of Properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfBusinessesAcquired" xlink:to="label_NumberOfBusinessesAcquired_2" xlink:title="label: NumberOfBusinessesAcquired to label_NumberOfBusinessesAcquired" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfBusinessesAcquired_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_NumberOfBusinessesAcquired" xml:lang="en-US" id="label_NumberOfBusinessesAcquired_3">Number of properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfBusinessesAcquired" xlink:to="label_NumberOfBusinessesAcquired_3" xlink:title="label: NumberOfBusinessesAcquired to label_NumberOfBusinessesAcquired" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NoncontrollingInterestItemsAbstract" xlink:label="NoncontrollingInterestItemsAbstract" xlink:title="NoncontrollingInterestItemsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_NoncontrollingInterestItemsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncontrollingInterestItemsAbstract" xml:lang="en-US" id="label_NoncontrollingInterestItemsAbstract">Noncontrolling Interest Items [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncontrollingInterestItemsAbstract" xlink:to="label_NoncontrollingInterestItemsAbstract" xlink:title="label: NoncontrollingInterestItemsAbstract to label_NoncontrollingInterestItemsAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NoncontrollingInterestItemsAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncontrollingInterestItemsAbstract" xml:lang="en-US" id="label_NoncontrollingInterestItemsAbstract_2">Non-controlling Interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncontrollingInterestItemsAbstract" xlink:to="label_NoncontrollingInterestItemsAbstract_2" xlink:title="label: NoncontrollingInterestItemsAbstract to label_NoncontrollingInterestItemsAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NoncontrollingInterestMember" xlink:label="NoncontrollingInterestMember" xlink:title="NoncontrollingInterestMember" />
    <link:label xlink:type="resource" xlink:label="label_NoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncontrollingInterestMember" xml:lang="en-US" id="label_NoncontrollingInterestMember">Noncontrolling Interest [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncontrollingInterestMember" xlink:to="label_NoncontrollingInterestMember" xlink:title="label: NoncontrollingInterestMember to label_NoncontrollingInterestMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_NoncontrollingInterestMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncontrollingInterestMember" xml:lang="en-US" id="label_NoncontrollingInterestMember_2">Non-controlling Interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncontrollingInterestMember" xlink:to="label_NoncontrollingInterestMember_2" xlink:title="label: NoncontrollingInterestMember to label_NoncontrollingInterestMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears" xlink:label="OperatingLeasesFutureMinimumPaymentsReceivableInFourYears" xlink:title="OperatingLeasesFutureMinimumPaymentsReceivableInFourYears" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears" xml:lang="en-US" id="label_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears">Operating Leases, Future Minimum Payments Receivable, in Four Years</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeasesFutureMinimumPaymentsReceivableInFourYears" xlink:to="label_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears" xlink:title="label: OperatingLeasesFutureMinimumPaymentsReceivableInFourYears to label_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears" xml:lang="en-US" id="label_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears_2">2016</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeasesFutureMinimumPaymentsReceivableInFourYears" xlink:to="label_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears_2" xlink:title="label: OperatingLeasesFutureMinimumPaymentsReceivableInFourYears to label_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OperatingExpenses" xlink:label="OperatingExpenses" xlink:title="OperatingExpenses" />
    <link:label xlink:type="resource" xlink:label="label_OperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OperatingExpenses" xml:lang="en-US" id="label_OperatingExpenses">Operating Expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingExpenses" xlink:to="label_OperatingExpenses" xlink:title="label: OperatingExpenses to label_OperatingExpenses" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OperatingExpenses_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OperatingExpenses" xml:lang="en-US" id="label_OperatingExpenses_2">Operating expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingExpenses" xlink:to="label_OperatingExpenses_2" xlink:title="label: OperatingExpenses to label_OperatingExpenses" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent" xlink:label="OperatingLeasesFutureMinimumPaymentsReceivableCurrent" xlink:title="OperatingLeasesFutureMinimumPaymentsReceivableCurrent" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeasesFutureMinimumPaymentsReceivableCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OperatingLeasesFutureMinimumPaymentsReceivableCurrent" xml:lang="en-US" id="label_OperatingLeasesFutureMinimumPaymentsReceivableCurrent">Operating Leases, Future Minimum Payments Receivable, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeasesFutureMinimumPaymentsReceivableCurrent" xlink:to="label_OperatingLeasesFutureMinimumPaymentsReceivableCurrent" xlink:title="label: OperatingLeasesFutureMinimumPaymentsReceivableCurrent to label_OperatingLeasesFutureMinimumPaymentsReceivableCurrent" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeasesFutureMinimumPaymentsReceivableCurrent_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OperatingLeasesFutureMinimumPaymentsReceivableCurrent" xml:lang="en-US" id="label_OperatingLeasesFutureMinimumPaymentsReceivableCurrent_2">2013</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeasesFutureMinimumPaymentsReceivableCurrent" xlink:to="label_OperatingLeasesFutureMinimumPaymentsReceivableCurrent_2" xlink:title="label: OperatingLeasesFutureMinimumPaymentsReceivableCurrent to label_OperatingLeasesFutureMinimumPaymentsReceivableCurrent" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter" xlink:label="OperatingLeasesFutureMinimumPaymentsReceivableThereafter" xlink:title="OperatingLeasesFutureMinimumPaymentsReceivableThereafter" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeasesFutureMinimumPaymentsReceivableThereafter" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OperatingLeasesFutureMinimumPaymentsReceivableThereafter" xml:lang="en-US" id="label_OperatingLeasesFutureMinimumPaymentsReceivableThereafter">Operating Leases, Future Minimum Payments Receivable, Thereafter</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeasesFutureMinimumPaymentsReceivableThereafter" xlink:to="label_OperatingLeasesFutureMinimumPaymentsReceivableThereafter" xlink:title="label: OperatingLeasesFutureMinimumPaymentsReceivableThereafter to label_OperatingLeasesFutureMinimumPaymentsReceivableThereafter" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeasesFutureMinimumPaymentsReceivableThereafter_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OperatingLeasesFutureMinimumPaymentsReceivableThereafter" xml:lang="en-US" id="label_OperatingLeasesFutureMinimumPaymentsReceivableThereafter_2">Thereafter</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeasesFutureMinimumPaymentsReceivableThereafter" xlink:to="label_OperatingLeasesFutureMinimumPaymentsReceivableThereafter_2" xlink:title="label: OperatingLeasesFutureMinimumPaymentsReceivableThereafter to label_OperatingLeasesFutureMinimumPaymentsReceivableThereafter" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears" xlink:label="OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears" xlink:title="OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears" xml:lang="en-US" id="label_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears">Operating Leases, Future Minimum Payments Receivable, in Five Years</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears" xlink:to="label_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears" xlink:title="label: OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears to label_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears" xml:lang="en-US" id="label_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears_2">2017</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears" xlink:to="label_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears_2" xlink:title="label: OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears to label_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears" xlink:label="OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears" xlink:title="OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears" xml:lang="en-US" id="label_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears">Operating Leases, Future Minimum Payments Receivable, in Three Years</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears" xlink:to="label_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears" xlink:title="label: OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears to label_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears" xml:lang="en-US" id="label_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears_2">2015</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears" xlink:to="label_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears_2" xlink:title="label: OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears to label_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OperatingLeasesIncomeStatementLeaseRevenue" xlink:label="OperatingLeasesIncomeStatementLeaseRevenue" xlink:title="OperatingLeasesIncomeStatementLeaseRevenue" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeasesIncomeStatementLeaseRevenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OperatingLeasesIncomeStatementLeaseRevenue" xml:lang="en-US" id="label_OperatingLeasesIncomeStatementLeaseRevenue">Operating Leases, Income Statement, Lease Revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeasesIncomeStatementLeaseRevenue" xlink:to="label_OperatingLeasesIncomeStatementLeaseRevenue" xlink:title="label: OperatingLeasesIncomeStatementLeaseRevenue to label_OperatingLeasesIncomeStatementLeaseRevenue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeasesIncomeStatementLeaseRevenue_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OperatingLeasesIncomeStatementLeaseRevenue" xml:lang="en-US" id="label_OperatingLeasesIncomeStatementLeaseRevenue_2">Rental income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeasesIncomeStatementLeaseRevenue" xlink:to="label_OperatingLeasesIncomeStatementLeaseRevenue_2" xlink:title="label: OperatingLeasesIncomeStatementLeaseRevenue to label_OperatingLeasesIncomeStatementLeaseRevenue" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears" xlink:label="OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears" xlink:title="OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears" xml:lang="en-US" id="label_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears">Operating Leases, Future Minimum Payments Receivable, in Two Years</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears" xlink:to="label_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears" xlink:title="label: OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears to label_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears" xml:lang="en-US" id="label_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears_2">2014</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears" xlink:to="label_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears_2" xlink:title="label: OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears to label_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableAbstract" xlink:label="OperatingLeasesFutureMinimumPaymentsReceivableAbstract" xlink:title="OperatingLeasesFutureMinimumPaymentsReceivableAbstract" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeasesFutureMinimumPaymentsReceivableAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OperatingLeasesFutureMinimumPaymentsReceivableAbstract" xml:lang="en-US" id="label_OperatingLeasesFutureMinimumPaymentsReceivableAbstract">Operating Leases, Future Minimum Payments Receivable [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeasesFutureMinimumPaymentsReceivableAbstract" xlink:to="label_OperatingLeasesFutureMinimumPaymentsReceivableAbstract" xlink:title="label: OperatingLeasesFutureMinimumPaymentsReceivableAbstract to label_OperatingLeasesFutureMinimumPaymentsReceivableAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeasesFutureMinimumPaymentsReceivableAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OperatingLeasesFutureMinimumPaymentsReceivableAbstract" xml:lang="en-US" id="label_OperatingLeasesFutureMinimumPaymentsReceivableAbstract_2">Future minimum base rents receivable under the remaining non-cancelable terms of operating leases excluding the effects of straight-line rent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeasesFutureMinimumPaymentsReceivableAbstract" xlink:to="label_OperatingLeasesFutureMinimumPaymentsReceivableAbstract_2" xlink:title="label: OperatingLeasesFutureMinimumPaymentsReceivableAbstract to label_OperatingLeasesFutureMinimumPaymentsReceivableAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue" xlink:label="OperatingLeasesIncomeStatementMinimumLeaseRevenue" xlink:title="OperatingLeasesIncomeStatementMinimumLeaseRevenue" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeasesIncomeStatementMinimumLeaseRevenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OperatingLeasesIncomeStatementMinimumLeaseRevenue" xml:lang="en-US" id="label_OperatingLeasesIncomeStatementMinimumLeaseRevenue">Operating Leases, Income Statement, Minimum Lease Revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeasesIncomeStatementMinimumLeaseRevenue" xlink:to="label_OperatingLeasesIncomeStatementMinimumLeaseRevenue" xlink:title="label: OperatingLeasesIncomeStatementMinimumLeaseRevenue to label_OperatingLeasesIncomeStatementMinimumLeaseRevenue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OperatingLeasesIncomeStatementMinimumLeaseRevenue_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OperatingLeasesIncomeStatementMinimumLeaseRevenue" xml:lang="en-US" id="label_OperatingLeasesIncomeStatementMinimumLeaseRevenue_2">Rental income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeasesIncomeStatementMinimumLeaseRevenue" xlink:to="label_OperatingLeasesIncomeStatementMinimumLeaseRevenue_2" xlink:title="label: OperatingLeasesIncomeStatementMinimumLeaseRevenue to label_OperatingLeasesIncomeStatementMinimumLeaseRevenue" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:label="OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:title="OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xml:lang="en-US" id="label_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract">General</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="label_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:title="label: OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract to label_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock" xlink:label="OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock" xlink:title="OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock" xml:lang="en-US" id="label_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock">Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock" xlink:to="label_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock" xlink:title="label: OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock to label_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock" xml:lang="en-US" id="label_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock_2">Summary of Significant Accounting Policies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock" xlink:to="label_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock_2" xlink:title="label: OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock to label_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:label="OtherComprehensiveIncomeLossNetOfTax" xlink:title="OtherComprehensiveIncomeLossNetOfTax" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherComprehensiveIncomeLossNetOfTax" xml:lang="en-US" id="label_OtherComprehensiveIncomeLossNetOfTax">Other Comprehensive Income (Loss), Net of Tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeLossNetOfTax" xlink:to="label_OtherComprehensiveIncomeLossNetOfTax" xlink:title="label: OtherComprehensiveIncomeLossNetOfTax to label_OtherComprehensiveIncomeLossNetOfTax" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeLossNetOfTax_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherComprehensiveIncomeLossNetOfTax" xml:lang="en-US" id="label_OtherComprehensiveIncomeLossNetOfTax_2">Reclassification adjustment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeLossNetOfTax" xlink:to="label_OtherComprehensiveIncomeLossNetOfTax_2" xlink:title="label: OtherComprehensiveIncomeLossNetOfTax to label_OtherComprehensiveIncomeLossNetOfTax" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherNoncashIncomeExpense" xlink:label="OtherNoncashIncomeExpense" xlink:title="OtherNoncashIncomeExpense" />
    <link:label xlink:type="resource" xlink:label="label_OtherNoncashIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherNoncashIncomeExpense" xml:lang="en-US" id="label_OtherNoncashIncomeExpense">Other Noncash Income (Expense)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNoncashIncomeExpense" xlink:to="label_OtherNoncashIncomeExpense" xlink:title="label: OtherNoncashIncomeExpense to label_OtherNoncashIncomeExpense" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OtherNoncashIncomeExpense_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_OtherNoncashIncomeExpense" xml:lang="en-US" id="label_OtherNoncashIncomeExpense_2">Other non-cash items, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNoncashIncomeExpense" xlink:to="label_OtherNoncashIncomeExpense_2" xlink:title="label: OtherNoncashIncomeExpense to label_OtherNoncashIncomeExpense" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherAssetsHeldForSale" xlink:label="OtherAssetsHeldForSale" xlink:title="OtherAssetsHeldForSale" />
    <link:label xlink:type="resource" xlink:label="label_OtherAssetsHeldForSale" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_OtherAssetsHeldForSale" xml:lang="en-US" id="label_OtherAssetsHeldForSale">Other assets related to properties held-for-sale, net of allowance for doubtful accounts: 2013 - $__; 2012 - $0</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherAssetsHeldForSale" xlink:to="label_OtherAssetsHeldForSale" xlink:title="label: OtherAssetsHeldForSale to label_OtherAssetsHeldForSale" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OtherAssetsHeldForSale_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherAssetsHeldForSale" xml:lang="en-US" id="label_OtherAssetsHeldForSale_2">Other Assets Held-for-sale</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherAssetsHeldForSale" xlink:to="label_OtherAssetsHeldForSale_2" xlink:title="label: OtherAssetsHeldForSale to label_OtherAssetsHeldForSale" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherAssetsUnclassifiedAbstract" xlink:label="OtherAssetsUnclassifiedAbstract" xlink:title="OtherAssetsUnclassifiedAbstract" />
    <link:label xlink:type="resource" xlink:label="label_OtherAssetsUnclassifiedAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherAssetsUnclassifiedAbstract" xml:lang="en-US" id="label_OtherAssetsUnclassifiedAbstract">Other Assets, Unclassified [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherAssetsUnclassifiedAbstract" xlink:to="label_OtherAssetsUnclassifiedAbstract" xlink:title="label: OtherAssetsUnclassifiedAbstract to label_OtherAssetsUnclassifiedAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_OtherAssetsUnclassifiedAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherAssetsUnclassifiedAbstract" xml:lang="en-US" id="label_OtherAssetsUnclassifiedAbstract_2">Other assets:</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" xlink:label="OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" xlink:title="OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" xml:lang="en-US" id="label_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract">Other Comprehensive Income (Loss), Net of Tax [Abstract]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" xml:lang="en-US" id="label_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract_2">Comprehensive Income:</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherNoncashIncome" xlink:label="OtherNoncashIncome" xlink:title="OtherNoncashIncome" />
    <link:label xlink:type="resource" xlink:label="label_OtherNoncashIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherNoncashIncome" xml:lang="en-US" id="label_OtherNoncashIncome">Other Noncash Income</link:label>
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    <link:label xlink:type="resource" xlink:label="label_OtherNoncashIncome_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_OtherNoncashIncome" xml:lang="en-US" id="label_OtherNoncashIncome_2">Other non-cash items, net</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ParentMember" xlink:label="ParentMember" xlink:title="ParentMember" />
    <link:label xlink:type="resource" xlink:label="label_ParentMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ParentMember" xml:lang="en-US" id="label_ParentMember">Total Stockholders' Equity</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ParentMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ParentMember" xml:lang="en-US" id="label_ParentMember_2">LTC Properties, Inc. Stockholders' Equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParentMember" xlink:to="label_ParentMember_2" xlink:title="label: ParentMember to label_ParentMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ParentMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ParentMember" xml:lang="en-US" id="label_ParentMember_3">Parent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParentMember" xlink:to="label_ParentMember_3" xlink:title="label: ParentMember to label_ParentMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ParticipatingSecuritiesDistributedAndUndistributedEarningsAbstract" xlink:label="ParticipatingSecuritiesDistributedAndUndistributedEarningsAbstract" xlink:title="ParticipatingSecuritiesDistributedAndUndistributedEarningsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ParticipatingSecuritiesDistributedAndUndistributedEarningsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ParticipatingSecuritiesDistributedAndUndistributedEarningsAbstract" xml:lang="en-US" id="label_ParticipatingSecuritiesDistributedAndUndistributedEarningsAbstract">Participating Securities, Distributed and Undistributed Earnings [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParticipatingSecuritiesDistributedAndUndistributedEarningsAbstract" xlink:to="label_ParticipatingSecuritiesDistributedAndUndistributedEarningsAbstract" xlink:title="label: ParticipatingSecuritiesDistributedAndUndistributedEarningsAbstract to label_ParticipatingSecuritiesDistributedAndUndistributedEarningsAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ParticipatingSecuritiesDistributedAndUndistributedEarningsAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ParticipatingSecuritiesDistributedAndUndistributedEarningsAbstract" xml:lang="en-US" id="label_ParticipatingSecuritiesDistributedAndUndistributedEarningsAbstract_2">Less net income allocated to participating securities:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParticipatingSecuritiesDistributedAndUndistributedEarningsAbstract" xlink:to="label_ParticipatingSecuritiesDistributedAndUndistributedEarningsAbstract_2" xlink:title="label: ParticipatingSecuritiesDistributedAndUndistributedEarningsAbstract to label_ParticipatingSecuritiesDistributedAndUndistributedEarningsAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ParticipatingSecuritiesDistributedAndUndistributedEarnings" xlink:label="ParticipatingSecuritiesDistributedAndUndistributedEarnings" xlink:title="ParticipatingSecuritiesDistributedAndUndistributedEarnings" />
    <link:label xlink:type="resource" xlink:label="label_ParticipatingSecuritiesDistributedAndUndistributedEarnings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ParticipatingSecuritiesDistributedAndUndistributedEarnings" xml:lang="en-US" id="label_ParticipatingSecuritiesDistributedAndUndistributedEarnings">Participating Securities, Distributed and Undistributed Earnings</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ParticipatingSecuritiesDistributedAndUndistributedEarnings_2" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:title="label_ParticipatingSecuritiesDistributedAndUndistributedEarnings" xml:lang="en-US" id="label_ParticipatingSecuritiesDistributedAndUndistributedEarnings_2">Total net income allocated to participating securities</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsForCapitalImprovements" xlink:label="PaymentsForCapitalImprovements" xlink:title="PaymentsForCapitalImprovements" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsForCapitalImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentsForCapitalImprovements" xml:lang="en-US" id="label_PaymentsForCapitalImprovements">Payments for Capital Improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForCapitalImprovements" xlink:to="label_PaymentsForCapitalImprovements" xlink:title="label: PaymentsForCapitalImprovements to label_PaymentsForCapitalImprovements" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsForCapitalImprovements_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PaymentsForCapitalImprovements" xml:lang="en-US" id="label_PaymentsForCapitalImprovements_2">Subsequent capital improvement expenditures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForCapitalImprovements" xlink:to="label_PaymentsForCapitalImprovements_2" xlink:title="label: PaymentsForCapitalImprovements to label_PaymentsForCapitalImprovements" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsForCapitalImprovements_3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PaymentsForCapitalImprovements" xml:lang="en-US" id="label_PaymentsForCapitalImprovements_3">Investment in real estate capital improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForCapitalImprovements" xlink:to="label_PaymentsForCapitalImprovements_3" xlink:title="label: PaymentsForCapitalImprovements to label_PaymentsForCapitalImprovements" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest" xlink:label="PaymentsForRepurchaseOfRedeemableNoncontrollingInterest" xlink:title="PaymentsForRepurchaseOfRedeemableNoncontrollingInterest" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest" xml:lang="en-US" id="label_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest">Payments for Repurchase of Redeemable Noncontrolling Interest</link:label>
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    <link:label xlink:type="resource" xlink:label="label_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest" xml:lang="en-US" id="label_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest_2">Redemption of non-controlling interests</link:label>
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    <link:label xlink:type="resource" xlink:label="label_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest" xml:lang="en-US" id="label_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest_3">Cash paid, redemption of non-controlling interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForRepurchaseOfRedeemableNoncontrollingInterest" xlink:to="label_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest_3" xlink:title="label: PaymentsForRepurchaseOfRedeemableNoncontrollingInterest to label_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsOfDebtIssuanceCosts" xlink:label="PaymentsOfDebtIssuanceCosts" xlink:title="PaymentsOfDebtIssuanceCosts" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsOfDebtIssuanceCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentsOfDebtIssuanceCosts" xml:lang="en-US" id="label_PaymentsOfDebtIssuanceCosts">Payments of Debt Issuance Costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsOfDebtIssuanceCosts" xlink:to="label_PaymentsOfDebtIssuanceCosts" xlink:title="label: PaymentsOfDebtIssuanceCosts to label_PaymentsOfDebtIssuanceCosts" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsOfDebtIssuanceCosts_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PaymentsOfDebtIssuanceCosts" xml:lang="en-US" id="label_PaymentsOfDebtIssuanceCosts_2">Debt issue costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsOfDebtIssuanceCosts" xlink:to="label_PaymentsOfDebtIssuanceCosts_2" xlink:title="label: PaymentsOfDebtIssuanceCosts to label_PaymentsOfDebtIssuanceCosts" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsForRepurchaseOfPreferredStockAndPreferenceStock" xlink:label="PaymentsForRepurchaseOfPreferredStockAndPreferenceStock" xlink:title="PaymentsForRepurchaseOfPreferredStockAndPreferenceStock" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsForRepurchaseOfPreferredStockAndPreferenceStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentsForRepurchaseOfPreferredStockAndPreferenceStock" xml:lang="en-US" id="label_PaymentsForRepurchaseOfPreferredStockAndPreferenceStock">Payments for Repurchase of Preferred Stock and Preference Stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForRepurchaseOfPreferredStockAndPreferenceStock" xlink:to="label_PaymentsForRepurchaseOfPreferredStockAndPreferenceStock" xlink:title="label: PaymentsForRepurchaseOfPreferredStockAndPreferenceStock to label_PaymentsForRepurchaseOfPreferredStockAndPreferenceStock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsForRepurchaseOfPreferredStockAndPreferenceStock_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PaymentsForRepurchaseOfPreferredStockAndPreferenceStock" xml:lang="en-US" id="label_PaymentsForRepurchaseOfPreferredStockAndPreferenceStock_2">Redemption of preferred stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForRepurchaseOfPreferredStockAndPreferenceStock" xlink:to="label_PaymentsForRepurchaseOfPreferredStockAndPreferenceStock_2" xlink:title="label: PaymentsForRepurchaseOfPreferredStockAndPreferenceStock to label_PaymentsForRepurchaseOfPreferredStockAndPreferenceStock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsForRepurchaseOfRedeemablePreferredStock" xlink:label="PaymentsForRepurchaseOfRedeemablePreferredStock" xlink:title="PaymentsForRepurchaseOfRedeemablePreferredStock" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsForRepurchaseOfRedeemablePreferredStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentsForRepurchaseOfRedeemablePreferredStock" xml:lang="en-US" id="label_PaymentsForRepurchaseOfRedeemablePreferredStock">Payments for Repurchase of Redeemable Preferred Stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForRepurchaseOfRedeemablePreferredStock" xlink:to="label_PaymentsForRepurchaseOfRedeemablePreferredStock" xlink:title="label: PaymentsForRepurchaseOfRedeemablePreferredStock to label_PaymentsForRepurchaseOfRedeemablePreferredStock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsForRepurchaseOfRedeemablePreferredStock_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PaymentsForRepurchaseOfRedeemablePreferredStock" xml:lang="en-US" id="label_PaymentsForRepurchaseOfRedeemablePreferredStock_2">Repurchase of preferred stock</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsForRepurchaseOfConvertiblePreferredStock" xlink:label="PaymentsForRepurchaseOfConvertiblePreferredStock" xlink:title="PaymentsForRepurchaseOfConvertiblePreferredStock" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsForRepurchaseOfConvertiblePreferredStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentsForRepurchaseOfConvertiblePreferredStock" xml:lang="en-US" id="label_PaymentsForRepurchaseOfConvertiblePreferredStock">Payments for Repurchase of Convertible Preferred Stock</link:label>
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    <link:label xlink:type="resource" xlink:label="label_PaymentsForRepurchaseOfConvertiblePreferredStock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PaymentsForRepurchaseOfConvertiblePreferredStock" xml:lang="en-US" id="label_PaymentsForRepurchaseOfConvertiblePreferredStock_2">Investment for repurchase of preferred stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForRepurchaseOfConvertiblePreferredStock" xlink:to="label_PaymentsForRepurchaseOfConvertiblePreferredStock_2" xlink:title="label: PaymentsForRepurchaseOfConvertiblePreferredStock to label_PaymentsForRepurchaseOfConvertiblePreferredStock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="PaymentsForRepurchaseOfCommonStock" xlink:title="PaymentsForRepurchaseOfCommonStock" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsForRepurchaseOfCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentsForRepurchaseOfCommonStock" xml:lang="en-US" id="label_PaymentsForRepurchaseOfCommonStock">Payments for Repurchase of Common Stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForRepurchaseOfCommonStock" xlink:to="label_PaymentsForRepurchaseOfCommonStock" xlink:title="label: PaymentsForRepurchaseOfCommonStock to label_PaymentsForRepurchaseOfCommonStock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsForRepurchaseOfCommonStock_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PaymentsForRepurchaseOfCommonStock" xml:lang="en-US" id="label_PaymentsForRepurchaseOfCommonStock_2">Repurchase of common stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForRepurchaseOfCommonStock" xlink:to="label_PaymentsForRepurchaseOfCommonStock_2" xlink:title="label: PaymentsForRepurchaseOfCommonStock to label_PaymentsForRepurchaseOfCommonStock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsForRepurchaseOfCommonStock_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PaymentsForRepurchaseOfCommonStock" xml:lang="en-US" id="label_PaymentsForRepurchaseOfCommonStock_3">Aggregate purchase price</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForRepurchaseOfCommonStock" xlink:to="label_PaymentsForRepurchaseOfCommonStock_3" xlink:title="label: PaymentsForRepurchaseOfCommonStock to label_PaymentsForRepurchaseOfCommonStock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsOfDividends" xlink:label="PaymentsOfDividends" xlink:title="PaymentsOfDividends" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsOfDividends" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentsOfDividends" xml:lang="en-US" id="label_PaymentsOfDividends">Payments of Dividends</link:label>
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    <link:label xlink:type="resource" xlink:label="label_PaymentsOfDividends_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PaymentsOfDividends" xml:lang="en-US" id="label_PaymentsOfDividends_2">Distributions paid to stockholders</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsOfDividends" xlink:to="label_PaymentsOfDividends_2" xlink:title="label: PaymentsOfDividends to label_PaymentsOfDividends" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsOfDividends_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PaymentsOfDividends" xml:lang="en-US" id="label_PaymentsOfDividends_3">Paid</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsOfDividends" xlink:to="label_PaymentsOfDividends_3" xlink:title="label: PaymentsOfDividends to label_PaymentsOfDividends" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsOfDividends_4" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_PaymentsOfDividends" xml:lang="en-US" id="label_PaymentsOfDividends_4">Common stock dividends</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsOfDividends" xlink:to="label_PaymentsOfDividends_4" xlink:title="label: PaymentsOfDividends to label_PaymentsOfDividends" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsToAcquireNotesReceivable" xlink:label="PaymentsToAcquireNotesReceivable" xlink:title="PaymentsToAcquireNotesReceivable" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsToAcquireNotesReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentsToAcquireNotesReceivable" xml:lang="en-US" id="label_PaymentsToAcquireNotesReceivable">Payments to Acquire Notes Receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToAcquireNotesReceivable" xlink:to="label_PaymentsToAcquireNotesReceivable" xlink:title="label: PaymentsToAcquireNotesReceivable to label_PaymentsToAcquireNotesReceivable" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsToAcquireNotesReceivable_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PaymentsToAcquireNotesReceivable" xml:lang="en-US" id="label_PaymentsToAcquireNotesReceivable_2">Advances under notes receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToAcquireNotesReceivable" xlink:to="label_PaymentsToAcquireNotesReceivable_2" xlink:title="label: PaymentsToAcquireNotesReceivable to label_PaymentsToAcquireNotesReceivable" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsToAcquireNotesReceivable_3" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_PaymentsToAcquireNotesReceivable" xml:lang="en-US" id="label_PaymentsToAcquireNotesReceivable_3">Principal Advanced</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToAcquireNotesReceivable" xlink:to="label_PaymentsToAcquireNotesReceivable_3" xlink:title="label: PaymentsToAcquireNotesReceivable to label_PaymentsToAcquireNotesReceivable" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsToDevelopRealEstateAssets" xlink:label="PaymentsToDevelopRealEstateAssets" xlink:title="PaymentsToDevelopRealEstateAssets" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsToDevelopRealEstateAssets" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PaymentsToDevelopRealEstateAssets" xml:lang="en-US" id="label_PaymentsToDevelopRealEstateAssets">Investment in real estate properties under development</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToDevelopRealEstateAssets" xlink:to="label_PaymentsToDevelopRealEstateAssets" xlink:title="label: PaymentsToDevelopRealEstateAssets to label_PaymentsToDevelopRealEstateAssets" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsToDevelopRealEstateAssets_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentsToDevelopRealEstateAssets" xml:lang="en-US" id="label_PaymentsToDevelopRealEstateAssets_2">Payments to Develop Real Estate Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToDevelopRealEstateAssets" xlink:to="label_PaymentsToDevelopRealEstateAssets_2" xlink:title="label: PaymentsToDevelopRealEstateAssets to label_PaymentsToDevelopRealEstateAssets" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsOfDividendsMinorityInterest" xlink:label="PaymentsOfDividendsMinorityInterest" xlink:title="PaymentsOfDividendsMinorityInterest" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsOfDividendsMinorityInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentsOfDividendsMinorityInterest" xml:lang="en-US" id="label_PaymentsOfDividendsMinorityInterest">Payments of Ordinary Dividends, Noncontrolling Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsOfDividendsMinorityInterest" xlink:to="label_PaymentsOfDividendsMinorityInterest" xlink:title="label: PaymentsOfDividendsMinorityInterest to label_PaymentsOfDividendsMinorityInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsOfDividendsMinorityInterest_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PaymentsOfDividendsMinorityInterest" xml:lang="en-US" id="label_PaymentsOfDividendsMinorityInterest_2">Distributions paid to non-controlling interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsOfDividendsMinorityInterest" xlink:to="label_PaymentsOfDividendsMinorityInterest_2" xlink:title="label: PaymentsOfDividendsMinorityInterest to label_PaymentsOfDividendsMinorityInterest" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsOfDividendsMinorityInterest_3" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_PaymentsOfDividendsMinorityInterest" xml:lang="en-US" id="label_PaymentsOfDividendsMinorityInterest_3">Non-controlling interest preferred return</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsOfDividendsMinorityInterest" xlink:to="label_PaymentsOfDividendsMinorityInterest_3" xlink:title="label: PaymentsOfDividendsMinorityInterest to label_PaymentsOfDividendsMinorityInterest" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsToAcquireMortgageNotesReceivable" xlink:label="PaymentsToAcquireMortgageNotesReceivable" xlink:title="PaymentsToAcquireMortgageNotesReceivable" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsToAcquireMortgageNotesReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentsToAcquireMortgageNotesReceivable" xml:lang="en-US" id="label_PaymentsToAcquireMortgageNotesReceivable">Payments to Acquire Mortgage Notes Receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToAcquireMortgageNotesReceivable" xlink:to="label_PaymentsToAcquireMortgageNotesReceivable" xlink:title="label: PaymentsToAcquireMortgageNotesReceivable to label_PaymentsToAcquireMortgageNotesReceivable" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsToAcquireMortgageNotesReceivable_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PaymentsToAcquireMortgageNotesReceivable" xml:lang="en-US" id="label_PaymentsToAcquireMortgageNotesReceivable_2">Advances under mortgage loans receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToAcquireMortgageNotesReceivable" xlink:to="label_PaymentsToAcquireMortgageNotesReceivable_2" xlink:title="label: PaymentsToAcquireMortgageNotesReceivable to label_PaymentsToAcquireMortgageNotesReceivable" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsOfDividendsCommonStock" xlink:label="PaymentsOfDividendsCommonStock" xlink:title="PaymentsOfDividendsCommonStock" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsOfDividendsCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentsOfDividendsCommonStock" xml:lang="en-US" id="label_PaymentsOfDividendsCommonStock">Payments of Ordinary Dividends, Common Stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsOfDividendsCommonStock" xlink:to="label_PaymentsOfDividendsCommonStock" xlink:title="label: PaymentsOfDividendsCommonStock to label_PaymentsOfDividendsCommonStock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsOfDividendsCommonStock_2" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_PaymentsOfDividendsCommonStock" xml:lang="en-US" id="label_PaymentsOfDividendsCommonStock_2">Common stock dividends</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsOfDividendsCommonStock" xlink:to="label_PaymentsOfDividendsCommonStock_2" xlink:title="label: PaymentsOfDividendsCommonStock to label_PaymentsOfDividendsCommonStock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsToAcquireRealEstate" xlink:label="PaymentsToAcquireRealEstate" xlink:title="PaymentsToAcquireRealEstate" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsToAcquireRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentsToAcquireRealEstate" xml:lang="en-US" id="label_PaymentsToAcquireRealEstate">Payments to Acquire Real Estate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToAcquireRealEstate" xlink:to="label_PaymentsToAcquireRealEstate" xlink:title="label: PaymentsToAcquireRealEstate to label_PaymentsToAcquireRealEstate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsToAcquireRealEstate_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PaymentsToAcquireRealEstate" xml:lang="en-US" id="label_PaymentsToAcquireRealEstate_2">Investment in real estate properties, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToAcquireRealEstate" xlink:to="label_PaymentsToAcquireRealEstate_2" xlink:title="label: PaymentsToAcquireRealEstate to label_PaymentsToAcquireRealEstate" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PledgedAssetsNotSeparatelyReportedRealEstate" xlink:label="PledgedAssetsNotSeparatelyReportedRealEstate" xlink:title="PledgedAssetsNotSeparatelyReportedRealEstate" />
    <link:label xlink:type="resource" xlink:label="label_PledgedAssetsNotSeparatelyReportedRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PledgedAssetsNotSeparatelyReportedRealEstate" xml:lang="en-US" id="label_PledgedAssetsNotSeparatelyReportedRealEstate">Pledged Assets, Not Separately Reported, Real Estate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PledgedAssetsNotSeparatelyReportedRealEstate" xlink:to="label_PledgedAssetsNotSeparatelyReportedRealEstate" xlink:title="label: PledgedAssetsNotSeparatelyReportedRealEstate to label_PledgedAssetsNotSeparatelyReportedRealEstate" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PledgedAssetsNotSeparatelyReportedRealEstate_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PledgedAssetsNotSeparatelyReportedRealEstate" xml:lang="en-US" id="label_PledgedAssetsNotSeparatelyReportedRealEstate_2">Aggregate carrying value of real estate property securing the entity's debt obligation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PledgedAssetsNotSeparatelyReportedRealEstate" xlink:to="label_PledgedAssetsNotSeparatelyReportedRealEstate_2" xlink:title="label: PledgedAssetsNotSeparatelyReportedRealEstate to label_PledgedAssetsNotSeparatelyReportedRealEstate" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="PreferredStockValue" xlink:title="PreferredStockValue" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferredStockValue" xml:lang="en-US" id="label_PreferredStockValue">Preferred Stock, Value, Issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockValue" xlink:to="label_PreferredStockValue" xlink:title="label: PreferredStockValue to label_PreferredStockValue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockValue_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_PreferredStockValue" xml:lang="en-US" id="label_PreferredStockValue_2">Preferred stock $0.01 par value; 15,000 shares authorized; shares issued and outstanding: 2013 - 2,000; 2012 - 2,000</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockValue" xlink:to="label_PreferredStockValue_2" xlink:title="label: PreferredStockValue to label_PreferredStockValue" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:label="PreferredStockSharesAuthorized" xlink:title="PreferredStockSharesAuthorized" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferredStockSharesAuthorized" xml:lang="en-US" id="label_PreferredStockSharesAuthorized">Preferred Stock, Shares Authorized</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockSharesAuthorized" xlink:to="label_PreferredStockSharesAuthorized" xlink:title="label: PreferredStockSharesAuthorized to label_PreferredStockSharesAuthorized" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockSharesAuthorized_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PreferredStockSharesAuthorized" xml:lang="en-US" id="label_PreferredStockSharesAuthorized_2">Preferred stock, shares authorized</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockSharesAuthorized" xlink:to="label_PreferredStockSharesAuthorized_2" xlink:title="label: PreferredStockSharesAuthorized to label_PreferredStockSharesAuthorized" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockDividendRatePercentage" xlink:label="PreferredStockDividendRatePercentage" xlink:title="PreferredStockDividendRatePercentage" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockDividendRatePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferredStockDividendRatePercentage" xml:lang="en-US" id="label_PreferredStockDividendRatePercentage">Preferred Stock, Dividend Rate, Percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockDividendRatePercentage" xlink:to="label_PreferredStockDividendRatePercentage" xlink:title="label: PreferredStockDividendRatePercentage to label_PreferredStockDividendRatePercentage" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockDividendRatePercentage_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PreferredStockDividendRatePercentage" xml:lang="en-US" id="label_PreferredStockDividendRatePercentage_2">Dividend Rate (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockDividendRatePercentage" xlink:to="label_PreferredStockDividendRatePercentage_2" xlink:title="label: PreferredStockDividendRatePercentage to label_PreferredStockDividendRatePercentage" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockDividendRatePercentage_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_PreferredStockDividendRatePercentage" xml:lang="en-US" id="label_PreferredStockDividendRatePercentage_3">Conversion of preferred stock, partial and full redemption (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockDividendRatePercentage" xlink:to="label_PreferredStockDividendRatePercentage_3" xlink:title="label: PreferredStockDividendRatePercentage to label_PreferredStockDividendRatePercentage" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockDividendsAndOtherAdjustmentsAbstract" xlink:label="PreferredStockDividendsAndOtherAdjustmentsAbstract" xlink:title="PreferredStockDividendsAndOtherAdjustmentsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockDividendsAndOtherAdjustmentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferredStockDividendsAndOtherAdjustmentsAbstract" xml:lang="en-US" id="label_PreferredStockDividendsAndOtherAdjustmentsAbstract">Preferred Stock Dividends and Other Adjustments [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockDividendsAndOtherAdjustmentsAbstract" xlink:to="label_PreferredStockDividendsAndOtherAdjustmentsAbstract" xlink:title="label: PreferredStockDividendsAndOtherAdjustmentsAbstract to label_PreferredStockDividendsAndOtherAdjustmentsAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockDividendsAndOtherAdjustmentsAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PreferredStockDividendsAndOtherAdjustmentsAbstract" xml:lang="en-US" id="label_PreferredStockDividendsAndOtherAdjustmentsAbstract_2">Less net income allocated to preferred stockholders:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockDividendsAndOtherAdjustmentsAbstract" xlink:to="label_PreferredStockDividendsAndOtherAdjustmentsAbstract_2" xlink:title="label: PreferredStockDividendsAndOtherAdjustmentsAbstract to label_PreferredStockDividendsAndOtherAdjustmentsAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:label="PreferredStockSharesIssued" xlink:title="PreferredStockSharesIssued" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferredStockSharesIssued" xml:lang="en-US" id="label_PreferredStockSharesIssued">Preferred Stock, Shares Issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockSharesIssued" xlink:to="label_PreferredStockSharesIssued" xlink:title="label: PreferredStockSharesIssued to label_PreferredStockSharesIssued" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockSharesIssued_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PreferredStockSharesIssued" xml:lang="en-US" id="label_PreferredStockSharesIssued_2">Preferred stock, shares issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockSharesIssued" xlink:to="label_PreferredStockSharesIssued_2" xlink:title="label: PreferredStockSharesIssued to label_PreferredStockSharesIssued" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockDividendsAndOtherAdjustments" xlink:label="PreferredStockDividendsAndOtherAdjustments" xlink:title="PreferredStockDividendsAndOtherAdjustments" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockDividendsAndOtherAdjustments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferredStockDividendsAndOtherAdjustments" xml:lang="en-US" id="label_PreferredStockDividendsAndOtherAdjustments">Preferred Stock Dividends and Other Adjustments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockDividendsAndOtherAdjustments" xlink:to="label_PreferredStockDividendsAndOtherAdjustments" xlink:title="label: PreferredStockDividendsAndOtherAdjustments to label_PreferredStockDividendsAndOtherAdjustments" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockDividendsAndOtherAdjustments_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PreferredStockDividendsAndOtherAdjustments" xml:lang="en-US" id="label_PreferredStockDividendsAndOtherAdjustments_2">Income allocated to preferred stockholders</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockDividendsAndOtherAdjustments" xlink:to="label_PreferredStockDividendsAndOtherAdjustments_2" xlink:title="label: PreferredStockDividendsAndOtherAdjustments to label_PreferredStockDividendsAndOtherAdjustments" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockDividendsAndOtherAdjustments_3" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:title="label_PreferredStockDividendsAndOtherAdjustments" xml:lang="en-US" id="label_PreferredStockDividendsAndOtherAdjustments_3">Total net income allocated to preferred stockholders</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockDividendsAndOtherAdjustments" xlink:to="label_PreferredStockDividendsAndOtherAdjustments_5" xlink:title="label: PreferredStockDividendsAndOtherAdjustments to label_PreferredStockDividendsAndOtherAdjustments" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockParOrStatedValuePerShare" xlink:label="PreferredStockParOrStatedValuePerShare" xlink:title="PreferredStockParOrStatedValuePerShare" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferredStockParOrStatedValuePerShare" xml:lang="en-US" id="label_PreferredStockParOrStatedValuePerShare">Preferred Stock, Par or Stated Value Per Share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockParOrStatedValuePerShare" xlink:to="label_PreferredStockParOrStatedValuePerShare" xlink:title="label: PreferredStockParOrStatedValuePerShare to label_PreferredStockParOrStatedValuePerShare" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockParOrStatedValuePerShare_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PreferredStockParOrStatedValuePerShare" xml:lang="en-US" id="label_PreferredStockParOrStatedValuePerShare_2">Preferred stock, par value (in dollars per share)</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockRedemptionPricePerShare" xlink:label="PreferredStockRedemptionPricePerShare" xlink:title="PreferredStockRedemptionPricePerShare" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockRedemptionPricePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferredStockRedemptionPricePerShare" xml:lang="en-US" id="label_PreferredStockRedemptionPricePerShare">Preferred Stock, Redemption Price Per Share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockRedemptionPricePerShare" xlink:to="label_PreferredStockRedemptionPricePerShare" xlink:title="label: PreferredStockRedemptionPricePerShare to label_PreferredStockRedemptionPricePerShare" use="optional" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockLiquidationPreference" xlink:label="PreferredStockLiquidationPreference" xlink:title="PreferredStockLiquidationPreference" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockLiquidationPreference" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferredStockLiquidationPreference" xml:lang="en-US" id="label_PreferredStockLiquidationPreference">Preferred Stock, Liquidation Preference Per Share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockLiquidationPreference" xlink:to="label_PreferredStockLiquidationPreference" xlink:title="label: PreferredStockLiquidationPreference to label_PreferredStockLiquidationPreference" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockLiquidationPreference_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PreferredStockLiquidationPreference" xml:lang="en-US" id="label_PreferredStockLiquidationPreference_2">Liquidation Value Per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockLiquidationPreference" xlink:to="label_PreferredStockLiquidationPreference_2" xlink:title="label: PreferredStockLiquidationPreference to label_PreferredStockLiquidationPreference" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="PreferredStockSharesOutstanding" xlink:title="PreferredStockSharesOutstanding" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferredStockSharesOutstanding" xml:lang="en-US" id="label_PreferredStockSharesOutstanding">Preferred Stock, Shares Outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockSharesOutstanding" xlink:to="label_PreferredStockSharesOutstanding" xlink:title="label: PreferredStockSharesOutstanding to label_PreferredStockSharesOutstanding" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockSharesOutstanding_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PreferredStockSharesOutstanding" xml:lang="en-US" id="label_PreferredStockSharesOutstanding_2">Preferred stock, shares outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockSharesOutstanding" xlink:to="label_PreferredStockSharesOutstanding_2" xlink:title="label: PreferredStockSharesOutstanding to label_PreferredStockSharesOutstanding" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockSharesOutstanding_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_PreferredStockSharesOutstanding" xml:lang="en-US" id="label_PreferredStockSharesOutstanding_3">Shares outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockSharesOutstanding" xlink:to="label_PreferredStockSharesOutstanding_3" xlink:title="label: PreferredStockSharesOutstanding to label_PreferredStockSharesOutstanding" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockMember" xlink:label="PreferredStockMember" xlink:title="PreferredStockMember" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferredStockMember" xml:lang="en-US" id="label_PreferredStockMember">Preferred Stock [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockMember" xlink:to="label_PreferredStockMember" xlink:title="label: PreferredStockMember to label_PreferredStockMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PreferredStockMember" xml:lang="en-US" id="label_PreferredStockMember_2">Preferred Stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockMember" xlink:to="label_PreferredStockMember_2" xlink:title="label: PreferredStockMember to label_PreferredStockMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PrepaidExpenseAndOtherAssets" xlink:label="PrepaidExpenseAndOtherAssets" xlink:title="PrepaidExpenseAndOtherAssets" />
    <link:label xlink:type="resource" xlink:label="label_PrepaidExpenseAndOtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PrepaidExpenseAndOtherAssets" xml:lang="en-US" id="label_PrepaidExpenseAndOtherAssets">Prepaid Expense and Other Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrepaidExpenseAndOtherAssets" xlink:to="label_PrepaidExpenseAndOtherAssets" xlink:title="label: PrepaidExpenseAndOtherAssets to label_PrepaidExpenseAndOtherAssets" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PrepaidExpenseAndOtherAssets_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PrepaidExpenseAndOtherAssets" xml:lang="en-US" id="label_PrepaidExpenseAndOtherAssets_2">Prepaid expenses and other assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrepaidExpenseAndOtherAssets" xlink:to="label_PrepaidExpenseAndOtherAssets_2" xlink:title="label: PrepaidExpenseAndOtherAssets to label_PrepaidExpenseAndOtherAssets" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromBankDebt" xlink:label="ProceedsFromBankDebt" xlink:title="ProceedsFromBankDebt" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromBankDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromBankDebt" xml:lang="en-US" id="label_ProceedsFromBankDebt">Proceeds from Bank Debt</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromBankDebt" xlink:to="label_ProceedsFromBankDebt" xlink:title="label: ProceedsFromBankDebt to label_ProceedsFromBankDebt" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromBankDebt_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromBankDebt" xml:lang="en-US" id="label_ProceedsFromBankDebt_2">Bank borrowings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromBankDebt" xlink:to="label_ProceedsFromBankDebt_2" xlink:title="label: ProceedsFromBankDebt to label_ProceedsFromBankDebt" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromPaymentsForOtherFinancingActivities" xlink:label="ProceedsFromPaymentsForOtherFinancingActivities" xlink:title="ProceedsFromPaymentsForOtherFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromPaymentsForOtherFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromPaymentsForOtherFinancingActivities" xml:lang="en-US" id="label_ProceedsFromPaymentsForOtherFinancingActivities">Proceeds from (Payments for) Other Financing Activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromPaymentsForOtherFinancingActivities" xlink:to="label_ProceedsFromPaymentsForOtherFinancingActivities" xlink:title="label: ProceedsFromPaymentsForOtherFinancingActivities to label_ProceedsFromPaymentsForOtherFinancingActivities" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromPaymentsForOtherFinancingActivities_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromPaymentsForOtherFinancingActivities" xml:lang="en-US" id="label_ProceedsFromPaymentsForOtherFinancingActivities_2">Other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromPaymentsForOtherFinancingActivities" xlink:to="label_ProceedsFromPaymentsForOtherFinancingActivities_2" xlink:title="label: ProceedsFromPaymentsForOtherFinancingActivities to label_ProceedsFromPaymentsForOtherFinancingActivities" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromSaleAndCollectionOfNotesReceivable" xlink:label="ProceedsFromSaleAndCollectionOfNotesReceivable" xlink:title="ProceedsFromSaleAndCollectionOfNotesReceivable" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSaleAndCollectionOfNotesReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromSaleAndCollectionOfNotesReceivable" xml:lang="en-US" id="label_ProceedsFromSaleAndCollectionOfNotesReceivable">Proceeds from Sale and Collection of Notes Receivable</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSaleAndCollectionOfNotesReceivable_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ProceedsFromSaleAndCollectionOfNotesReceivable" xml:lang="en-US" id="label_ProceedsFromSaleAndCollectionOfNotesReceivable_2">Principal payments received</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSaleAndCollectionOfNotesReceivable" xlink:to="label_ProceedsFromSaleAndCollectionOfNotesReceivable_2" xlink:title="label: ProceedsFromSaleAndCollectionOfNotesReceivable to label_ProceedsFromSaleAndCollectionOfNotesReceivable" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSaleAndCollectionOfNotesReceivable_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromSaleAndCollectionOfNotesReceivable" xml:lang="en-US" id="label_ProceedsFromSaleAndCollectionOfNotesReceivable_3">Principal payments received on notes receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSaleAndCollectionOfNotesReceivable" xlink:to="label_ProceedsFromSaleAndCollectionOfNotesReceivable_3" xlink:title="label: ProceedsFromSaleAndCollectionOfNotesReceivable to label_ProceedsFromSaleAndCollectionOfNotesReceivable" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromSaleAndCollectionOfMortgageNotesReceivable" xlink:label="ProceedsFromSaleAndCollectionOfMortgageNotesReceivable" xlink:title="ProceedsFromSaleAndCollectionOfMortgageNotesReceivable" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSaleAndCollectionOfMortgageNotesReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromSaleAndCollectionOfMortgageNotesReceivable" xml:lang="en-US" id="label_ProceedsFromSaleAndCollectionOfMortgageNotesReceivable">Proceeds from Sale and Collection of Mortgage Notes Receivable</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSaleAndCollectionOfMortgageNotesReceivable_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromSaleAndCollectionOfMortgageNotesReceivable" xml:lang="en-US" id="label_ProceedsFromSaleAndCollectionOfMortgageNotesReceivable_2">Principal payments received on mortgage loans receivable</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromIssuanceOfUnsecuredDebt" xlink:label="ProceedsFromIssuanceOfUnsecuredDebt" xlink:title="ProceedsFromIssuanceOfUnsecuredDebt" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromIssuanceOfUnsecuredDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromIssuanceOfUnsecuredDebt" xml:lang="en-US" id="label_ProceedsFromIssuanceOfUnsecuredDebt">Proceeds from Issuance of Unsecured Debt</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssuanceOfUnsecuredDebt" xlink:to="label_ProceedsFromIssuanceOfUnsecuredDebt" xlink:title="label: ProceedsFromIssuanceOfUnsecuredDebt to label_ProceedsFromIssuanceOfUnsecuredDebt" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromIssuanceOfUnsecuredDebt_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromIssuanceOfUnsecuredDebt" xml:lang="en-US" id="label_ProceedsFromIssuanceOfUnsecuredDebt_2">Proceeds from issuance of senior unsecured notes</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:label="ProceedsFromIssuanceOfCommonStock" xlink:title="ProceedsFromIssuanceOfCommonStock" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromIssuanceOfCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromIssuanceOfCommonStock" xml:lang="en-US" id="label_ProceedsFromIssuanceOfCommonStock">Proceeds from Issuance of Common Stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssuanceOfCommonStock" xlink:to="label_ProceedsFromIssuanceOfCommonStock" xlink:title="label: ProceedsFromIssuanceOfCommonStock to label_ProceedsFromIssuanceOfCommonStock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromIssuanceOfCommonStock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromIssuanceOfCommonStock" xml:lang="en-US" id="label_ProceedsFromIssuanceOfCommonStock_2">Net proceeds</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssuanceOfCommonStock" xlink:to="label_ProceedsFromIssuanceOfCommonStock_2" xlink:title="label: ProceedsFromIssuanceOfCommonStock to label_ProceedsFromIssuanceOfCommonStock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromIssuanceOrSaleOfEquity" xlink:label="ProceedsFromIssuanceOrSaleOfEquity" xlink:title="ProceedsFromIssuanceOrSaleOfEquity" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromIssuanceOrSaleOfEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromIssuanceOrSaleOfEquity" xml:lang="en-US" id="label_ProceedsFromIssuanceOrSaleOfEquity">Proceeds from Issuance or Sale of Equity</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ProceedsFromIssuanceOrSaleOfEquity_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromIssuanceOrSaleOfEquity" xml:lang="en-US" id="label_ProceedsFromIssuanceOrSaleOfEquity_2">Proceeds from common stock offering</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities" xlink:label="ProceedsFromSaleAndMaturityOfMarketableSecurities" xlink:title="ProceedsFromSaleAndMaturityOfMarketableSecurities" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSaleAndMaturityOfMarketableSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromSaleAndMaturityOfMarketableSecurities" xml:lang="en-US" id="label_ProceedsFromSaleAndMaturityOfMarketableSecurities">Proceeds from Sale and Maturity of Marketable Securities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSaleAndMaturityOfMarketableSecurities" xlink:to="label_ProceedsFromSaleAndMaturityOfMarketableSecurities" xlink:title="label: ProceedsFromSaleAndMaturityOfMarketableSecurities to label_ProceedsFromSaleAndMaturityOfMarketableSecurities" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSaleAndMaturityOfMarketableSecurities_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromSaleAndMaturityOfMarketableSecurities" xml:lang="en-US" id="label_ProceedsFromSaleAndMaturityOfMarketableSecurities_2">Proceeds from redemption of marketable securities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSaleAndMaturityOfMarketableSecurities" xlink:to="label_ProceedsFromSaleAndMaturityOfMarketableSecurities_2" xlink:title="label: ProceedsFromSaleAndMaturityOfMarketableSecurities to label_ProceedsFromSaleAndMaturityOfMarketableSecurities" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment" xlink:label="ProceedsFromSaleOfRealEstateHeldforinvestment" xlink:title="ProceedsFromSaleOfRealEstateHeldforinvestment" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSaleOfRealEstateHeldforinvestment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromSaleOfRealEstateHeldforinvestment" xml:lang="en-US" id="label_ProceedsFromSaleOfRealEstateHeldforinvestment">Proceeds from Sale of Real Estate Held-for-investment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSaleOfRealEstateHeldforinvestment" xlink:to="label_ProceedsFromSaleOfRealEstateHeldforinvestment" xlink:title="label: ProceedsFromSaleOfRealEstateHeldforinvestment to label_ProceedsFromSaleOfRealEstateHeldforinvestment" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSaleOfRealEstateHeldforinvestment_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromSaleOfRealEstateHeldforinvestment" xml:lang="en-US" id="label_ProceedsFromSaleOfRealEstateHeldforinvestment_2">Proceeds from sale of real estate investments, net</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSaleOfRealEstateHeldforinvestment_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ProceedsFromSaleOfRealEstateHeldforinvestment" xml:lang="en-US" id="label_ProceedsFromSaleOfRealEstateHeldforinvestment_3">Net cash proceeds from sale of property</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromStockOptionsExercised" xlink:label="ProceedsFromStockOptionsExercised" xlink:title="ProceedsFromStockOptionsExercised" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromStockOptionsExercised" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromStockOptionsExercised" xml:lang="en-US" id="label_ProceedsFromStockOptionsExercised">Proceeds from Stock Options Exercised</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromStockOptionsExercised" xlink:to="label_ProceedsFromStockOptionsExercised" xlink:title="label: ProceedsFromStockOptionsExercised to label_ProceedsFromStockOptionsExercised" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromStockOptionsExercised_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromStockOptionsExercised" xml:lang="en-US" id="label_ProceedsFromStockOptionsExercised_2">Stock option exercises</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromStockOptionsExercised" xlink:to="label_ProceedsFromStockOptionsExercised_2" xlink:title="label: ProceedsFromStockOptionsExercised to label_ProceedsFromStockOptionsExercised" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProfitLoss" xlink:label="ProfitLoss" xlink:title="ProfitLoss" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProfitLoss" xml:lang="en-US" id="label_ProfitLoss">Net Income (Loss), Including Portion Attributable to Noncontrolling Interest</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ProfitLoss_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ProfitLoss" xml:lang="en-US" id="label_ProfitLoss_2">Net income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLoss" xlink:to="label_ProfitLoss_2" xlink:title="label: ProfitLoss to label_ProfitLoss" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLoss_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProfitLoss" xml:lang="en-US" id="label_ProfitLoss_3">Net income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLoss" xlink:to="label_ProfitLoss_3" xlink:title="label: ProfitLoss to label_ProfitLoss" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLoss_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ProfitLoss" xml:lang="en-US" id="label_ProfitLoss_4">Net income (loss)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLoss" xlink:to="label_ProfitLoss_4" xlink:title="label: ProfitLoss to label_ProfitLoss" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:label="PropertyPlantAndEquipmentUsefulLife" xlink:title="PropertyPlantAndEquipmentUsefulLife" />
    <link:label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipmentUsefulLife" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PropertyPlantAndEquipmentUsefulLife" xml:lang="en-US" id="label_PropertyPlantAndEquipmentUsefulLife">Property, Plant and Equipment, Useful Life</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentUsefulLife" xlink:to="label_PropertyPlantAndEquipmentUsefulLife" xlink:title="label: PropertyPlantAndEquipmentUsefulLife to label_PropertyPlantAndEquipmentUsefulLife" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipmentUsefulLife_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PropertyPlantAndEquipmentUsefulLife" xml:lang="en-US" id="label_PropertyPlantAndEquipmentUsefulLife_2">Useful life</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentUsefulLife" xlink:to="label_PropertyPlantAndEquipmentUsefulLife_2" xlink:title="label: PropertyPlantAndEquipmentUsefulLife to label_PropertyPlantAndEquipmentUsefulLife" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="PropertyPlantAndEquipmentTypeDomain" xlink:title="PropertyPlantAndEquipmentTypeDomain" />
    <link:label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipmentTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PropertyPlantAndEquipmentTypeDomain" xml:lang="en-US" id="label_PropertyPlantAndEquipmentTypeDomain">Property, Plant and Equipment, Type [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentTypeDomain" xlink:to="label_PropertyPlantAndEquipmentTypeDomain" xlink:title="label: PropertyPlantAndEquipmentTypeDomain to label_PropertyPlantAndEquipmentTypeDomain" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits" xlink:label="PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits" xlink:title="PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits" />
    <link:label xlink:type="resource" xlink:label="label_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits" xml:lang="en-US" id="label_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits">Property Subject to or Available for Operating Lease, Number of Units</link:label>
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    <link:label xlink:type="resource" xlink:label="label_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits" xml:lang="en-US" id="label_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits_2">Number of properties leased</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits" xlink:to="label_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits_2" xlink:title="label: PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits to label_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAbstract" xlink:label="PropertyPlantAndEquipmentAbstract" xlink:title="PropertyPlantAndEquipmentAbstract" />
    <link:label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipmentAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PropertyPlantAndEquipmentAbstract" xml:lang="en-US" id="label_PropertyPlantAndEquipmentAbstract">Property, Plant and Equipment [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentAbstract" xlink:to="label_PropertyPlantAndEquipmentAbstract" xlink:title="label: PropertyPlantAndEquipmentAbstract to label_PropertyPlantAndEquipmentAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipmentAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PropertyPlantAndEquipmentAbstract" xml:lang="en-US" id="label_PropertyPlantAndEquipmentAbstract_2">Land, Buildings and Improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentAbstract" xlink:to="label_PropertyPlantAndEquipmentAbstract_2" xlink:title="label: PropertyPlantAndEquipmentAbstract to label_PropertyPlantAndEquipmentAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:label="PropertyPlantAndEquipmentPolicyTextBlock" xlink:title="PropertyPlantAndEquipmentPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipmentPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PropertyPlantAndEquipmentPolicyTextBlock" xml:lang="en-US" id="label_PropertyPlantAndEquipmentPolicyTextBlock">Property, Plant and Equipment, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentPolicyTextBlock" xlink:to="label_PropertyPlantAndEquipmentPolicyTextBlock" xlink:title="label: PropertyPlantAndEquipmentPolicyTextBlock to label_PropertyPlantAndEquipmentPolicyTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipmentPolicyTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PropertyPlantAndEquipmentPolicyTextBlock" xml:lang="en-US" id="label_PropertyPlantAndEquipmentPolicyTextBlock_2">Owned Properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentPolicyTextBlock" xlink:to="label_PropertyPlantAndEquipmentPolicyTextBlock_2" xlink:title="label: PropertyPlantAndEquipmentPolicyTextBlock to label_PropertyPlantAndEquipmentPolicyTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="PropertyPlantAndEquipmentLineItems" xlink:title="PropertyPlantAndEquipmentLineItems" />
    <link:label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipmentLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PropertyPlantAndEquipmentLineItems" xml:lang="en-US" id="label_PropertyPlantAndEquipmentLineItems">Property, Plant and Equipment [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentLineItems" xlink:to="label_PropertyPlantAndEquipmentLineItems" xlink:title="label: PropertyPlantAndEquipmentLineItems to label_PropertyPlantAndEquipmentLineItems" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipmentLineItems_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PropertyPlantAndEquipmentLineItems" xml:lang="en-US" id="label_PropertyPlantAndEquipmentLineItems_2">Land, Buildings and Improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentLineItems" xlink:to="label_PropertyPlantAndEquipmentLineItems_2" xlink:title="label: PropertyPlantAndEquipmentLineItems to label_PropertyPlantAndEquipmentLineItems" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipmentLineItems_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_PropertyPlantAndEquipmentLineItems" xml:lang="en-US" id="label_PropertyPlantAndEquipmentLineItems_3">Owned Properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentLineItems" xlink:to="label_PropertyPlantAndEquipmentLineItems_3" xlink:title="label: PropertyPlantAndEquipmentLineItems to label_PropertyPlantAndEquipmentLineItems" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="PropertyPlantAndEquipmentByTypeAxis" xlink:title="PropertyPlantAndEquipmentByTypeAxis" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentByTypeAxis" xlink:to="label_PropertyPlantAndEquipmentByTypeAxis" xlink:title="label: PropertyPlantAndEquipmentByTypeAxis to label_PropertyPlantAndEquipmentByTypeAxis" use="optional" />
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    <link:label xlink:type="resource" xlink:label="label_ProvisionForDoubtfulAccounts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProvisionForDoubtfulAccounts" xml:lang="en-US" id="label_ProvisionForDoubtfulAccounts">Provision for Doubtful Accounts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProvisionForDoubtfulAccounts" xlink:to="label_ProvisionForDoubtfulAccounts" xlink:title="label: ProvisionForDoubtfulAccounts to label_ProvisionForDoubtfulAccounts" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ProvisionForDoubtfulAccounts_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProvisionForDoubtfulAccounts" xml:lang="en-US" id="label_ProvisionForDoubtfulAccounts_2">Provision for doubtful accounts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProvisionForDoubtfulAccounts" xlink:to="label_ProvisionForDoubtfulAccounts_2" xlink:title="label: ProvisionForDoubtfulAccounts to label_ProvisionForDoubtfulAccounts" use="optional" />
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    <link:label xlink:type="resource" xlink:label="label_QuarterlyFinancialInformationTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_QuarterlyFinancialInformationTextBlock" xml:lang="en-US" id="label_QuarterlyFinancialInformationTextBlock">Quarterly Financial Information [Text Block]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_QuarterlyFinancialInformationTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_QuarterlyFinancialInformationTextBlock" xml:lang="en-US" id="label_QuarterlyFinancialInformationTextBlock_2">Quarterly Financial Information</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="QuarterlyFinancialInformationTextBlock" xlink:to="label_QuarterlyFinancialInformationTextBlock_2" xlink:title="label: QuarterlyFinancialInformationTextBlock to label_QuarterlyFinancialInformationTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_QuarterlyFinancialInformationDisclosureAbstract" xlink:label="QuarterlyFinancialInformationDisclosureAbstract" xlink:title="QuarterlyFinancialInformationDisclosureAbstract" />
    <link:label xlink:type="resource" xlink:label="label_QuarterlyFinancialInformationDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_QuarterlyFinancialInformationDisclosureAbstract" xml:lang="en-US" id="label_QuarterlyFinancialInformationDisclosureAbstract">Quarterly Financial Information</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="QuarterlyFinancialInformationDisclosureAbstract" xlink:to="label_QuarterlyFinancialInformationDisclosureAbstract" xlink:title="label: QuarterlyFinancialInformationDisclosureAbstract to label_QuarterlyFinancialInformationDisclosureAbstract" use="optional" />
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    <link:label xlink:type="resource" xlink:label="label_RangeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RangeMember" xml:lang="en-US" id="label_RangeMember">Range [Domain]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_RealEstateOwnedTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateOwnedTextBlock" xml:lang="en-US" id="label_RealEstateOwnedTextBlock">Real Estate Owned [Text Block]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_RealEstateOwnedTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateOwnedTextBlock" xml:lang="en-US" id="label_RealEstateOwnedTextBlock_2">Real Estate Investments</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements" xlink:label="RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements" xlink:title="RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements">Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements" xlink:to="label_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements" xlink:title="label: RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements to label_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements_2">Costs Capitalized Subsequent to acquisition</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances" xlink:label="RealEstateAndAccumulatedDepreciationAmountOfEncumbrances" xlink:title="RealEstateAndAccumulatedDepreciationAmountOfEncumbrances" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances">Real Estate and Accumulated Depreciation, Amount of Encumbrances</link:label>
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    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances_2">Encumbrances</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateAndAccumulatedDepreciationAmountOfEncumbrances" xlink:to="label_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances_2" xlink:title="label: RealEstateAndAccumulatedDepreciationAmountOfEncumbrances to label_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements" xlink:label="RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements" xlink:title="RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements">Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements" xlink:to="label_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements" xlink:title="label: RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements to label_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements_2">Buildings and Improvements</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateAccumulatedDepreciationOtherAdditions" xlink:label="RealEstateAccumulatedDepreciationOtherAdditions" xlink:title="RealEstateAccumulatedDepreciationOtherAdditions" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAccumulatedDepreciationOtherAdditions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateAccumulatedDepreciationOtherAdditions" xml:lang="en-US" id="label_RealEstateAccumulatedDepreciationOtherAdditions">Real Estate Accumulated Depreciation, Other Additions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateAccumulatedDepreciationOtherAdditions" xlink:to="label_RealEstateAccumulatedDepreciationOtherAdditions" xlink:title="label: RealEstateAccumulatedDepreciationOtherAdditions to label_RealEstateAccumulatedDepreciationOtherAdditions" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAccumulatedDepreciationOtherAdditions_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateAccumulatedDepreciationOtherAdditions" xml:lang="en-US" id="label_RealEstateAccumulatedDepreciationOtherAdditions_2">Conversion of mortgage loans into owned properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateAccumulatedDepreciationOtherAdditions" xlink:to="label_RealEstateAccumulatedDepreciationOtherAdditions_2" xlink:title="label: RealEstateAccumulatedDepreciationOtherAdditions to label_RealEstateAccumulatedDepreciationOtherAdditions" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationDisclosureAbstract" xlink:label="RealEstateAndAccumulatedDepreciationDisclosureAbstract" xlink:title="RealEstateAndAccumulatedDepreciationDisclosureAbstract" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateAndAccumulatedDepreciationDisclosureAbstract" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationDisclosureAbstract">SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateAccumulatedDepreciationDepreciationExpense" xlink:label="RealEstateAccumulatedDepreciationDepreciationExpense" xlink:title="RealEstateAccumulatedDepreciationDepreciationExpense" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAccumulatedDepreciationDepreciationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateAccumulatedDepreciationDepreciationExpense" xml:lang="en-US" id="label_RealEstateAccumulatedDepreciationDepreciationExpense">Real Estate Accumulated Depreciation, Depreciation Expense</link:label>
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    <link:label xlink:type="resource" xlink:label="label_RealEstateAccumulatedDepreciationDepreciationExpense_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateAccumulatedDepreciationDepreciationExpense" xml:lang="en-US" id="label_RealEstateAccumulatedDepreciationDepreciationExpense_2">Depreciation expense</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateAbstract" xlink:label="RealEstateAbstract" xlink:title="RealEstateAbstract" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateAbstract" xml:lang="en-US" id="label_RealEstateAbstract">Real Estate Investments</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationDisclosureTextBlock" xlink:label="RealEstateAndAccumulatedDepreciationDisclosureTextBlock" xlink:title="RealEstateAndAccumulatedDepreciationDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateAndAccumulatedDepreciationDisclosureTextBlock" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationDisclosureTextBlock">Real Estate and Accumulated Depreciation Disclosure [Text Block]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationDisclosureTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateAndAccumulatedDepreciationDisclosureTextBlock" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationDisclosureTextBlock_2">SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION</link:label>
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    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements">Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements</link:label>
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    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements_2">Buildings and Improvements</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand" xlink:label="RealEstateAndAccumulatedDepreciationCarryingAmountOfLand" xlink:title="RealEstateAndAccumulatedDepreciationCarryingAmountOfLand" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand">Real Estate and Accumulated Depreciation, Carrying Amount of Land</link:label>
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    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand_2">Land</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationInitialCostAbstract" xlink:label="RealEstateAndAccumulatedDepreciationInitialCostAbstract" xlink:title="RealEstateAndAccumulatedDepreciationInitialCostAbstract" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationInitialCostAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateAndAccumulatedDepreciationInitialCostAbstract" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationInitialCostAbstract">Real Estate and Accumulated Depreciation, Initial Cost [Abstract]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationInitialCostAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateAndAccumulatedDepreciationInitialCostAbstract" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationInitialCostAbstract_2">Initial Cost to Company</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateAndAccumulatedDepreciationInitialCostAbstract" xlink:to="label_RealEstateAndAccumulatedDepreciationInitialCostAbstract_2" xlink:title="label: RealEstateAndAccumulatedDepreciationInitialCostAbstract to label_RealEstateAndAccumulatedDepreciationInitialCostAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateInvestmentPropertyNetAbstract" xlink:label="RealEstateInvestmentPropertyNetAbstract" xlink:title="RealEstateInvestmentPropertyNetAbstract" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestmentPropertyNetAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateInvestmentPropertyNetAbstract" xml:lang="en-US" id="label_RealEstateInvestmentPropertyNetAbstract">Real Estate Investment Property, Net [Abstract]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestmentPropertyNetAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateInvestmentPropertyNetAbstract" xml:lang="en-US" id="label_RealEstateInvestmentPropertyNetAbstract_2">Real estate investments:</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationByPropertyTable" xlink:label="RealEstateAndAccumulatedDepreciationByPropertyTable" xlink:title="RealEstateAndAccumulatedDepreciationByPropertyTable" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:label="RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:title="RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain">Name of Property [Domain]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstatePropertiesLineItems" xlink:label="RealEstatePropertiesLineItems" xlink:title="RealEstatePropertiesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_RealEstatePropertiesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstatePropertiesLineItems" xml:lang="en-US" id="label_RealEstatePropertiesLineItems">Real Estate Properties [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstatePropertiesLineItems" xlink:to="label_RealEstatePropertiesLineItems" xlink:title="label: RealEstatePropertiesLineItems to label_RealEstatePropertiesLineItems" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstatePropertiesLineItems_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstatePropertiesLineItems" xml:lang="en-US" id="label_RealEstatePropertiesLineItems_2">Real estate properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstatePropertiesLineItems" xlink:to="label_RealEstatePropertiesLineItems_2" xlink:title="label: RealEstatePropertiesLineItems to label_RealEstatePropertiesLineItems" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateInvestmentPropertyNet" xlink:label="RealEstateInvestmentPropertyNet" xlink:title="RealEstateInvestmentPropertyNet" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestmentPropertyNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateInvestmentPropertyNet" xml:lang="en-US" id="label_RealEstateInvestmentPropertyNet">Real Estate Investment Property, Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentPropertyNet" xlink:to="label_RealEstateInvestmentPropertyNet" xlink:title="label: RealEstateInvestmentPropertyNet to label_RealEstateInvestmentPropertyNet" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestmentPropertyNet_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_RealEstateInvestmentPropertyNet" xml:lang="en-US" id="label_RealEstateInvestmentPropertyNet_2">Net real estate property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentPropertyNet" xlink:to="label_RealEstateInvestmentPropertyNet_2" xlink:title="label: RealEstateInvestmentPropertyNet to label_RealEstateInvestmentPropertyNet" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateAccumulatedDepreciationRealEstateSold" xlink:label="RealEstateAccumulatedDepreciationRealEstateSold" xlink:title="RealEstateAccumulatedDepreciationRealEstateSold" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAccumulatedDepreciationRealEstateSold" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateAccumulatedDepreciationRealEstateSold" xml:lang="en-US" id="label_RealEstateAccumulatedDepreciationRealEstateSold">Real Estate Accumulated Depreciation, Real Estate Sold</link:label>
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    <link:label xlink:type="resource" xlink:label="label_RealEstateAccumulatedDepreciationRealEstateSold_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_RealEstateAccumulatedDepreciationRealEstateSold" xml:lang="en-US" id="label_RealEstateAccumulatedDepreciationRealEstateSold_2">Cost of real estate sold</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateInvestments" xlink:label="RealEstateInvestments" xlink:title="RealEstateInvestments" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateInvestments" xml:lang="en-US" id="label_RealEstateInvestments">Real Estate Investments, Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestments" xlink:to="label_RealEstateInvestments" xlink:title="label: RealEstateInvestments to label_RealEstateInvestments" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestments_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateInvestments" xml:lang="en-US" id="label_RealEstateInvestments_2">Gross Investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestments" xlink:to="label_RealEstateInvestments_2" xlink:title="label: RealEstateInvestments to label_RealEstateInvestments" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestments_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_RealEstateInvestments" xml:lang="en-US" id="label_RealEstateInvestments_3">Net Investment</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateAccumulatedDepreciation" xlink:label="RealEstateAccumulatedDepreciation" xlink:title="RealEstateAccumulatedDepreciation" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateAccumulatedDepreciation" xml:lang="en-US" id="label_RealEstateAccumulatedDepreciation">Real Estate Accumulated Depreciation</link:label>
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    <link:label xlink:type="resource" xlink:label="label_RealEstateAccumulatedDepreciation_2" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_RealEstateAccumulatedDepreciation" xml:lang="en-US" id="label_RealEstateAccumulatedDepreciation_2">Beginning balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateAccumulatedDepreciation" xlink:to="label_RealEstateAccumulatedDepreciation_2" xlink:title="label: RealEstateAccumulatedDepreciation to label_RealEstateAccumulatedDepreciation" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAccumulatedDepreciation_3" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_RealEstateAccumulatedDepreciation" xml:lang="en-US" id="label_RealEstateAccumulatedDepreciation_3">Ending balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateAccumulatedDepreciation" xlink:to="label_RealEstateAccumulatedDepreciation_3" xlink:title="label: RealEstateAccumulatedDepreciation to label_RealEstateAccumulatedDepreciation" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationLineItems" xlink:label="RealEstateAndAccumulatedDepreciationLineItems" xlink:title="RealEstateAndAccumulatedDepreciationLineItems" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateAndAccumulatedDepreciationLineItems" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationLineItems">Real Estate and Accumulated Depreciation [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateAndAccumulatedDepreciationLineItems" xlink:to="label_RealEstateAndAccumulatedDepreciationLineItems" xlink:title="label: RealEstateAndAccumulatedDepreciationLineItems to label_RealEstateAndAccumulatedDepreciationLineItems" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationLineItems_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateAndAccumulatedDepreciationLineItems" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationLineItems_2">Real Estate and Accumulated Depreciation.</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovements" xlink:label="RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovements" xlink:title="RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovements" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovements" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovements">Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovements" xlink:to="label_RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovements" xlink:title="label: RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovements to label_RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovements" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovements_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovements" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovements_2">Total</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovements" xlink:to="label_RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovements_2" xlink:title="label: RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovements to label_RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovements" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateInvestmentMember" xlink:label="RealEstateInvestmentMember" xlink:title="RealEstateInvestmentMember" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateInvestmentMember" xml:lang="en-US" id="label_RealEstateInvestmentMember">Real Estate Investment [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentMember" xlink:to="label_RealEstateInvestmentMember" xlink:title="label: RealEstateInvestmentMember to label_RealEstateInvestmentMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestmentMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateInvestmentMember" xml:lang="en-US" id="label_RealEstateInvestmentMember_2">Owned Properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentMember" xlink:to="label_RealEstateInvestmentMember_2" xlink:title="label: RealEstateInvestmentMember to label_RealEstateInvestmentMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand" xlink:label="RealEstateAndAccumulatedDepreciationInitialCostOfLand" xlink:title="RealEstateAndAccumulatedDepreciationInitialCostOfLand" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationInitialCostOfLand" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateAndAccumulatedDepreciationInitialCostOfLand" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationInitialCostOfLand">Real Estate and Accumulated Depreciation, Initial Cost of Land</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateAndAccumulatedDepreciationInitialCostOfLand" xlink:to="label_RealEstateAndAccumulatedDepreciationInitialCostOfLand" xlink:title="label: RealEstateAndAccumulatedDepreciationInitialCostOfLand to label_RealEstateAndAccumulatedDepreciationInitialCostOfLand" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationInitialCostOfLand_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateAndAccumulatedDepreciationInitialCostOfLand" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationInitialCostOfLand_2">Land</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:label="RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:title="RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis">Name of Property [Axis]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationAccumulatedDepreciation" xlink:label="RealEstateAndAccumulatedDepreciationAccumulatedDepreciation" xlink:title="RealEstateAndAccumulatedDepreciationAccumulatedDepreciation" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateAndAccumulatedDepreciationAccumulatedDepreciation" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationAccumulatedDepreciation">Real Estate and Accumulated Depreciation, Accumulated Depreciation</link:label>
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    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationAccumulatedDepreciation_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateAndAccumulatedDepreciationAccumulatedDepreciation" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationAccumulatedDepreciation_2">Accum Deprec</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateAndAccumulatedDepreciationAccumulatedDepreciation" xlink:to="label_RealEstateAndAccumulatedDepreciationAccumulatedDepreciation_2" xlink:title="label: RealEstateAndAccumulatedDepreciationAccumulatedDepreciation to label_RealEstateAndAccumulatedDepreciationAccumulatedDepreciation" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateAcquiredThroughForeclosure" xlink:label="RealEstateAcquiredThroughForeclosure" xlink:title="RealEstateAcquiredThroughForeclosure" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAcquiredThroughForeclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateAcquiredThroughForeclosure" xml:lang="en-US" id="label_RealEstateAcquiredThroughForeclosure">Real Estate Acquired Through Foreclosure</link:label>
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    <link:label xlink:type="resource" xlink:label="label_RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovementsAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovementsAbstract" xml:lang="en-US" id="label_RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovementsAbstract_2">Gross Amount at Which Carried As of Year End</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovementsAbstract" xlink:to="label_RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovementsAbstract_2" xlink:title="label: RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovementsAbstract to label_RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovementsAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:label="RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:title="RealEstateInvestmentPropertyAccumulatedDepreciation" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateInvestmentPropertyAccumulatedDepreciation" xml:lang="en-US" id="label_RealEstateInvestmentPropertyAccumulatedDepreciation">Real Estate Investment Property, Accumulated Depreciation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:to="label_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:title="label: RealEstateInvestmentPropertyAccumulatedDepreciation to label_RealEstateInvestmentPropertyAccumulatedDepreciation" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateInvestmentPropertyAccumulatedDepreciation_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_RealEstateInvestmentPropertyAccumulatedDepreciation" xml:lang="en-US" id="label_RealEstateInvestmentPropertyAccumulatedDepreciation_2">Accumulated depreciation and amortization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:to="label_RealEstateInvestmentPropertyAccumulatedDepreciation_2" xlink:title="label: RealEstateInvestmentPropertyAccumulatedDepreciation to label_RealEstateInvestmentPropertyAccumulatedDepreciation" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateHeldforsale" xlink:label="RealEstateHeldforsale" xlink:title="RealEstateHeldforsale" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateHeldforsale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateHeldforsale" xml:lang="en-US" id="label_RealEstateHeldforsale">Real Estate Held-for-sale</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateHeldforsale" xlink:to="label_RealEstateHeldforsale" xlink:title="label: RealEstateHeldforsale to label_RealEstateHeldforsale" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateHeldforsale_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_RealEstateHeldforsale" xml:lang="en-US" id="label_RealEstateHeldforsale_2">Properties held-for-sale, net of accumulated depreciation and amortization: 2013 - $_0; 2012 - $3,884</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateHeldforsale" xlink:to="label_RealEstateHeldforsale_2" xlink:title="label: RealEstateHeldforsale to label_RealEstateHeldforsale" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateCostOfRealEstateSold" xlink:label="RealEstateCostOfRealEstateSold" xlink:title="RealEstateCostOfRealEstateSold" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateCostOfRealEstateSold" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateCostOfRealEstateSold" xml:lang="en-US" id="label_RealEstateCostOfRealEstateSold">Real Estate, Cost of Real Estate Sold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateCostOfRealEstateSold" xlink:to="label_RealEstateCostOfRealEstateSold" xlink:title="label: RealEstateCostOfRealEstateSold to label_RealEstateCostOfRealEstateSold" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateCostOfRealEstateSold_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_RealEstateCostOfRealEstateSold" xml:lang="en-US" id="label_RealEstateCostOfRealEstateSold_2">Cost of real estate sold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateCostOfRealEstateSold" xlink:to="label_RealEstateCostOfRealEstateSold_2" xlink:title="label: RealEstateCostOfRealEstateSold to label_RealEstateCostOfRealEstateSold" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateFederalIncomeTaxBasis" xlink:label="RealEstateFederalIncomeTaxBasis" xlink:title="RealEstateFederalIncomeTaxBasis" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateFederalIncomeTaxBasis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateFederalIncomeTaxBasis" xml:lang="en-US" id="label_RealEstateFederalIncomeTaxBasis">Real Estate, Federal Income Tax Basis</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateFederalIncomeTaxBasis" xlink:to="label_RealEstateFederalIncomeTaxBasis" xlink:title="label: RealEstateFederalIncomeTaxBasis to label_RealEstateFederalIncomeTaxBasis" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateFederalIncomeTaxBasis_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateFederalIncomeTaxBasis" xml:lang="en-US" id="label_RealEstateFederalIncomeTaxBasis_2">Aggregate cost for Federal income tax purposes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateFederalIncomeTaxBasis" xlink:to="label_RealEstateFederalIncomeTaxBasis_2" xlink:title="label: RealEstateFederalIncomeTaxBasis to label_RealEstateFederalIncomeTaxBasis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateImprovements" xlink:label="RealEstateImprovements" xlink:title="RealEstateImprovements" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateImprovements" xml:lang="en-US" id="label_RealEstateImprovements">Real Estate, Improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateImprovements" xlink:to="label_RealEstateImprovements" xlink:title="label: RealEstateImprovements to label_RealEstateImprovements" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateImprovements_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateImprovements" xml:lang="en-US" id="label_RealEstateImprovements_2">Improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateImprovements" xlink:to="label_RealEstateImprovements_2" xlink:title="label: RealEstateImprovements to label_RealEstateImprovements" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateGrossAtCarryingValue" xlink:label="RealEstateGrossAtCarryingValue" xlink:title="RealEstateGrossAtCarryingValue" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateGrossAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateGrossAtCarryingValue" xml:lang="en-US" id="label_RealEstateGrossAtCarryingValue">Real Estate, Gross</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateGrossAtCarryingValue" xlink:to="label_RealEstateGrossAtCarryingValue" xlink:title="label: RealEstateGrossAtCarryingValue to label_RealEstateGrossAtCarryingValue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateGrossAtCarryingValue_2" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_RealEstateGrossAtCarryingValue" xml:lang="en-US" id="label_RealEstateGrossAtCarryingValue_2">Beginning balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateGrossAtCarryingValue" xlink:to="label_RealEstateGrossAtCarryingValue_2" xlink:title="label: RealEstateGrossAtCarryingValue to label_RealEstateGrossAtCarryingValue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateGrossAtCarryingValue_3" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_RealEstateGrossAtCarryingValue" xml:lang="en-US" id="label_RealEstateGrossAtCarryingValue_3">Ending balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateGrossAtCarryingValue" xlink:to="label_RealEstateGrossAtCarryingValue_3" xlink:title="label: RealEstateGrossAtCarryingValue to label_RealEstateGrossAtCarryingValue" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateOtherAcquisitions" xlink:label="RealEstateOtherAcquisitions" xlink:title="RealEstateOtherAcquisitions" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateOtherAcquisitions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateOtherAcquisitions" xml:lang="en-US" id="label_RealEstateOtherAcquisitions">Real Estate, Other Acquisitions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateOtherAcquisitions" xlink:to="label_RealEstateOtherAcquisitions" xlink:title="label: RealEstateOtherAcquisitions to label_RealEstateOtherAcquisitions" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateOtherAcquisitions_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateOtherAcquisitions" xml:lang="en-US" id="label_RealEstateOtherAcquisitions_2">Acquisitions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateOtherAcquisitions" xlink:to="label_RealEstateOtherAcquisitions_2" xlink:title="label: RealEstateOtherAcquisitions to label_RealEstateOtherAcquisitions" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateAcquisitionsThroughForeclosures" xlink:label="RealEstateAcquisitionsThroughForeclosures" xlink:title="RealEstateAcquisitionsThroughForeclosures" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAcquisitionsThroughForeclosures" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RealEstateAcquisitionsThroughForeclosures" xml:lang="en-US" id="label_RealEstateAcquisitionsThroughForeclosures">Real Estate, Acquisitions Through Foreclosures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateAcquisitionsThroughForeclosures" xlink:to="label_RealEstateAcquisitionsThroughForeclosures" xlink:title="label: RealEstateAcquisitionsThroughForeclosures to label_RealEstateAcquisitionsThroughForeclosures" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RealEstateAcquisitionsThroughForeclosures_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RealEstateAcquisitionsThroughForeclosures" xml:lang="en-US" id="label_RealEstateAcquisitionsThroughForeclosures_2">Conversion of mortgage loans into owned properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateAcquisitionsThroughForeclosures" xlink:to="label_RealEstateAcquisitionsThroughForeclosures_2" xlink:title="label: RealEstateAcquisitionsThroughForeclosures to label_RealEstateAcquisitionsThroughForeclosures" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ReceivablesAbstract" xlink:label="ReceivablesAbstract" xlink:title="ReceivablesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ReceivablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReceivablesAbstract" xml:lang="en-US" id="label_ReceivablesAbstract">Notes Receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceivablesAbstract" xlink:to="label_ReceivablesAbstract" xlink:title="label: ReceivablesAbstract to label_ReceivablesAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward" xlink:label="ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward" xlink:title="ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward" />
    <link:label xlink:type="resource" xlink:label="label_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward" xml:lang="en-US" id="label_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward">Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward" xlink:to="label_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward" xlink:title="label: ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward to label_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward" xml:lang="en-US" id="label_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward_2">Real Estate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward" xlink:to="label_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward_2" xlink:title="label: ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward to label_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward" xlink:label="ReconciliationOfRealEstateAccumulatedDepreciationRollForward" xlink:title="ReconciliationOfRealEstateAccumulatedDepreciationRollForward" />
    <link:label xlink:type="resource" xlink:label="label_ReconciliationOfRealEstateAccumulatedDepreciationRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReconciliationOfRealEstateAccumulatedDepreciationRollForward" xml:lang="en-US" id="label_ReconciliationOfRealEstateAccumulatedDepreciationRollForward">Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReconciliationOfRealEstateAccumulatedDepreciationRollForward" xlink:to="label_ReconciliationOfRealEstateAccumulatedDepreciationRollForward" xlink:title="label: ReconciliationOfRealEstateAccumulatedDepreciationRollForward to label_ReconciliationOfRealEstateAccumulatedDepreciationRollForward" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ReconciliationOfRealEstateAccumulatedDepreciationRollForward_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReconciliationOfRealEstateAccumulatedDepreciationRollForward" xml:lang="en-US" id="label_ReconciliationOfRealEstateAccumulatedDepreciationRollForward_2">Accumulated depreciation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReconciliationOfRealEstateAccumulatedDepreciationRollForward" xlink:to="label_ReconciliationOfRealEstateAccumulatedDepreciationRollForward_2" xlink:title="label: ReconciliationOfRealEstateAccumulatedDepreciationRollForward to label_ReconciliationOfRealEstateAccumulatedDepreciationRollForward" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:label="RelatedPartyTransactionsDisclosureTextBlock" xlink:title="RelatedPartyTransactionsDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_RelatedPartyTransactionsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RelatedPartyTransactionsDisclosureTextBlock" xml:lang="en-US" id="label_RelatedPartyTransactionsDisclosureTextBlock">Related Party Transactions Disclosure [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionsDisclosureTextBlock" xlink:to="label_RelatedPartyTransactionsDisclosureTextBlock" xlink:title="label: RelatedPartyTransactionsDisclosureTextBlock to label_RelatedPartyTransactionsDisclosureTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RelatedPartyTransactionsDisclosureTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RelatedPartyTransactionsDisclosureTextBlock" xml:lang="en-US" id="label_RelatedPartyTransactionsDisclosureTextBlock_2">Transactions with Related Party</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionsDisclosureTextBlock" xlink:to="label_RelatedPartyTransactionsDisclosureTextBlock_2" xlink:title="label: RelatedPartyTransactionsDisclosureTextBlock to label_RelatedPartyTransactionsDisclosureTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RelatedPartyTransactionLineItems" xlink:label="RelatedPartyTransactionLineItems" xlink:title="RelatedPartyTransactionLineItems" />
    <link:label xlink:type="resource" xlink:label="label_RelatedPartyTransactionLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RelatedPartyTransactionLineItems" xml:lang="en-US" id="label_RelatedPartyTransactionLineItems">Related Party Transaction [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionLineItems" xlink:to="label_RelatedPartyTransactionLineItems" xlink:title="label: RelatedPartyTransactionLineItems to label_RelatedPartyTransactionLineItems" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RelatedPartyTransactionLineItems_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RelatedPartyTransactionLineItems" xml:lang="en-US" id="label_RelatedPartyTransactionLineItems_2">Marketable Securities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionLineItems" xlink:to="label_RelatedPartyTransactionLineItems_2" xlink:title="label: RelatedPartyTransactionLineItems to label_RelatedPartyTransactionLineItems" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RelatedPartyTransactionLineItems_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_RelatedPartyTransactionLineItems" xml:lang="en-US" id="label_RelatedPartyTransactionLineItems_3">Transactions with Related Party</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionLineItems" xlink:to="label_RelatedPartyTransactionLineItems_3" xlink:title="label: RelatedPartyTransactionLineItems to label_RelatedPartyTransactionLineItems" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="RelatedPartyDomain" xlink:title="RelatedPartyDomain" />
    <link:label xlink:type="resource" xlink:label="label_RelatedPartyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RelatedPartyDomain" xml:lang="en-US" id="label_RelatedPartyDomain">Related Party [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyDomain" xlink:to="label_RelatedPartyDomain" xlink:title="label: RelatedPartyDomain to label_RelatedPartyDomain" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RelatedPartyTransactionsAbstract" xlink:label="RelatedPartyTransactionsAbstract" xlink:title="RelatedPartyTransactionsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_RelatedPartyTransactionsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RelatedPartyTransactionsAbstract" xml:lang="en-US" id="label_RelatedPartyTransactionsAbstract">Transactions with Related Party</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionsAbstract" xlink:to="label_RelatedPartyTransactionsAbstract" xlink:title="label: RelatedPartyTransactionsAbstract to label_RelatedPartyTransactionsAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="RelatedPartyTransactionsByRelatedPartyAxis" xlink:title="RelatedPartyTransactionsByRelatedPartyAxis" />
    <link:label xlink:type="resource" xlink:label="label_RelatedPartyTransactionsByRelatedPartyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RelatedPartyTransactionsByRelatedPartyAxis" xml:lang="en-US" id="label_RelatedPartyTransactionsByRelatedPartyAxis">Related Party [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="label_RelatedPartyTransactionsByRelatedPartyAxis" xlink:title="label: RelatedPartyTransactionsByRelatedPartyAxis to label_RelatedPartyTransactionsByRelatedPartyAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RepaymentOfDebtMember" xlink:label="RepaymentOfDebtMember" xlink:title="RepaymentOfDebtMember" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentOfDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RepaymentOfDebtMember" xml:lang="en-US" id="label_RepaymentOfDebtMember">Repayment of Debt [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentOfDebtMember" xlink:to="label_RepaymentOfDebtMember" xlink:title="label: RepaymentOfDebtMember to label_RepaymentOfDebtMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentOfDebtMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RepaymentOfDebtMember" xml:lang="en-US" id="label_RepaymentOfDebtMember_2">Repayment of debt</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentOfDebtMember" xlink:to="label_RepaymentOfDebtMember_2" xlink:title="label: RepaymentOfDebtMember to label_RepaymentOfDebtMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RepaymentsOfBankDebt" xlink:label="RepaymentsOfBankDebt" xlink:title="RepaymentsOfBankDebt" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentsOfBankDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RepaymentsOfBankDebt" xml:lang="en-US" id="label_RepaymentsOfBankDebt">Repayments of Bank Debt</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfBankDebt" xlink:to="label_RepaymentsOfBankDebt" xlink:title="label: RepaymentsOfBankDebt to label_RepaymentsOfBankDebt" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentsOfBankDebt_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_RepaymentsOfBankDebt" xml:lang="en-US" id="label_RepaymentsOfBankDebt_2">Repayment of bank borrowings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfBankDebt" xlink:to="label_RepaymentsOfBankDebt_2" xlink:title="label: RepaymentsOfBankDebt to label_RepaymentsOfBankDebt" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentsOfBankDebt_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RepaymentsOfBankDebt" xml:lang="en-US" id="label_RepaymentsOfBankDebt_3">Amount repaid under Unsecured Credit Agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfBankDebt" xlink:to="label_RepaymentsOfBankDebt_3" xlink:title="label: RepaymentsOfBankDebt to label_RepaymentsOfBankDebt" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentsOfBankDebt_4" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_RepaymentsOfBankDebt" xml:lang="en-US" id="label_RepaymentsOfBankDebt_4">Amount repaid under Unsecured Credit Agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfBankDebt" xlink:to="label_RepaymentsOfBankDebt_4" xlink:title="label: RepaymentsOfBankDebt to label_RepaymentsOfBankDebt" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RepaymentsOfDebt" xlink:label="RepaymentsOfDebt" xlink:title="RepaymentsOfDebt" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentsOfDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RepaymentsOfDebt" xml:lang="en-US" id="label_RepaymentsOfDebt">Repayments of Debt</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfDebt" xlink:to="label_RepaymentsOfDebt" xlink:title="label: RepaymentsOfDebt to label_RepaymentsOfDebt" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentsOfDebt_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RepaymentsOfDebt" xml:lang="en-US" id="label_RepaymentsOfDebt_2">Repayments of debt</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfDebt" xlink:to="label_RepaymentsOfDebt_2" xlink:title="label: RepaymentsOfDebt to label_RepaymentsOfDebt" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RepaymentsOfLongTermDebt" xlink:label="RepaymentsOfLongTermDebt" xlink:title="RepaymentsOfLongTermDebt" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentsOfLongTermDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RepaymentsOfLongTermDebt" xml:lang="en-US" id="label_RepaymentsOfLongTermDebt">Repayments of Long-term Debt</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfLongTermDebt" xlink:to="label_RepaymentsOfLongTermDebt" xlink:title="label: RepaymentsOfLongTermDebt to label_RepaymentsOfLongTermDebt" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentsOfLongTermDebt_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_RepaymentsOfLongTermDebt" xml:lang="en-US" id="label_RepaymentsOfLongTermDebt_2">Principal payments on mortgage loans and bonds payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfLongTermDebt" xlink:to="label_RepaymentsOfLongTermDebt_2" xlink:title="label: RepaymentsOfLongTermDebt to label_RepaymentsOfLongTermDebt" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentsOfLongTermDebt_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RepaymentsOfLongTermDebt" xml:lang="en-US" id="label_RepaymentsOfLongTermDebt_3">Amount paid in scheduled principal payments on bonds payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfLongTermDebt" xlink:to="label_RepaymentsOfLongTermDebt_3" xlink:title="label: RepaymentsOfLongTermDebt to label_RepaymentsOfLongTermDebt" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentsOfLongTermDebt_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_RepaymentsOfLongTermDebt" xml:lang="en-US" id="label_RepaymentsOfLongTermDebt_4">Loan paid off</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfLongTermDebt" xlink:to="label_RepaymentsOfLongTermDebt_4" xlink:title="label: RepaymentsOfLongTermDebt to label_RepaymentsOfLongTermDebt" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RepaymentsOfSecuredDebt" xlink:label="RepaymentsOfSecuredDebt" xlink:title="RepaymentsOfSecuredDebt" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentsOfSecuredDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RepaymentsOfSecuredDebt" xml:lang="en-US" id="label_RepaymentsOfSecuredDebt">Repayments of Secured Debt</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfSecuredDebt" xlink:to="label_RepaymentsOfSecuredDebt" xlink:title="label: RepaymentsOfSecuredDebt to label_RepaymentsOfSecuredDebt" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentsOfSecuredDebt_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_RepaymentsOfSecuredDebt" xml:lang="en-US" id="label_RepaymentsOfSecuredDebt_2">Principal payments on bonds payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfSecuredDebt" xlink:to="label_RepaymentsOfSecuredDebt_2" xlink:title="label: RepaymentsOfSecuredDebt to label_RepaymentsOfSecuredDebt" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RepurchaseOfEquityMember" xlink:label="RepurchaseOfEquityMember" xlink:title="RepurchaseOfEquityMember" />
    <link:label xlink:type="resource" xlink:label="label_RepurchaseOfEquityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RepurchaseOfEquityMember" xml:lang="en-US" id="label_RepurchaseOfEquityMember">Repurchase of Equity [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepurchaseOfEquityMember" xlink:to="label_RepurchaseOfEquityMember" xlink:title="label: RepurchaseOfEquityMember to label_RepurchaseOfEquityMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RepurchaseOfEquityMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RepurchaseOfEquityMember" xml:lang="en-US" id="label_RepurchaseOfEquityMember_2">Repurchase of equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepurchaseOfEquityMember" xlink:to="label_RepurchaseOfEquityMember_2" xlink:title="label: RepurchaseOfEquityMember to label_RepurchaseOfEquityMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RestrictedStockMember" xlink:label="RestrictedStockMember" xlink:title="RestrictedStockMember" />
    <link:label xlink:type="resource" xlink:label="label_RestrictedStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RestrictedStockMember" xml:lang="en-US" id="label_RestrictedStockMember">Restricted Stock [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedStockMember" xlink:to="label_RestrictedStockMember" xlink:title="label: RestrictedStockMember to label_RestrictedStockMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RestrictedStockMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RestrictedStockMember" xml:lang="en-US" id="label_RestrictedStockMember_2">Restricted stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedStockMember" xlink:to="label_RestrictedStockMember_2" xlink:title="label: RestrictedStockMember to label_RestrictedStockMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="RetainedEarningsAccumulatedDeficit" xlink:title="RetainedEarningsAccumulatedDeficit" />
    <link:label xlink:type="resource" xlink:label="label_RetainedEarningsAccumulatedDeficit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RetainedEarningsAccumulatedDeficit" xml:lang="en-US" id="label_RetainedEarningsAccumulatedDeficit">Retained Earnings (Accumulated Deficit)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarningsAccumulatedDeficit" xlink:to="label_RetainedEarningsAccumulatedDeficit" xlink:title="label: RetainedEarningsAccumulatedDeficit to label_RetainedEarningsAccumulatedDeficit" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RetainedEarningsAccumulatedDeficit_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RetainedEarningsAccumulatedDeficit" xml:lang="en-US" id="label_RetainedEarningsAccumulatedDeficit_2">Cumulative net income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarningsAccumulatedDeficit" xlink:to="label_RetainedEarningsAccumulatedDeficit_2" xlink:title="label: RetainedEarningsAccumulatedDeficit to label_RetainedEarningsAccumulatedDeficit" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="RetainedEarningsMember" xlink:title="RetainedEarningsMember" />
    <link:label xlink:type="resource" xlink:label="label_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RetainedEarningsMember" xml:lang="en-US" id="label_RetainedEarningsMember">Retained Earnings [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarningsMember" xlink:to="label_RetainedEarningsMember" xlink:title="label: RetainedEarningsMember to label_RetainedEarningsMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RetainedEarningsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RetainedEarningsMember" xml:lang="en-US" id="label_RetainedEarningsMember_2">Cumulative Net Income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarningsMember" xlink:to="label_RetainedEarningsMember_2" xlink:title="label: RetainedEarningsMember to label_RetainedEarningsMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RevenueRecognitionPolicyTextBlock" xlink:label="RevenueRecognitionPolicyTextBlock" xlink:title="RevenueRecognitionPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_RevenueRecognitionPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RevenueRecognitionPolicyTextBlock" xml:lang="en-US" id="label_RevenueRecognitionPolicyTextBlock">Revenue Recognition, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueRecognitionPolicyTextBlock" xlink:to="label_RevenueRecognitionPolicyTextBlock" xlink:title="label: RevenueRecognitionPolicyTextBlock to label_RevenueRecognitionPolicyTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RevenueRecognitionPolicyTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RevenueRecognitionPolicyTextBlock" xml:lang="en-US" id="label_RevenueRecognitionPolicyTextBlock_2">Revenue Recognition</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueRecognitionPolicyTextBlock" xlink:to="label_RevenueRecognitionPolicyTextBlock_2" xlink:title="label: RevenueRecognitionPolicyTextBlock to label_RevenueRecognitionPolicyTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_Revenues" xlink:label="Revenues" xlink:title="Revenues" />
    <link:label xlink:type="resource" xlink:label="label_Revenues" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Revenues" xml:lang="en-US" id="label_Revenues">Revenues</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Revenues" xlink:to="label_Revenues" xlink:title="label: Revenues to label_Revenues" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Revenues_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_Revenues" xml:lang="en-US" id="label_Revenues_2">Total revenues</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Revenues" xlink:to="label_Revenues_2" xlink:title="label: Revenues to label_Revenues" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Revenues_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Revenues" xml:lang="en-US" id="label_Revenues_3">Gross revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Revenues" xlink:to="label_Revenues_3" xlink:title="label: Revenues to label_Revenues" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_Revenues_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_Revenues" xml:lang="en-US" id="label_Revenues_4">Revenues</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Revenues" xlink:to="label_Revenues_4" xlink:title="label: Revenues to label_Revenues" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="RevenuesAbstract" xlink:title="RevenuesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_RevenuesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RevenuesAbstract" xml:lang="en-US" id="label_RevenuesAbstract">Revenues [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenuesAbstract" xlink:to="label_RevenuesAbstract" xlink:title="label: RevenuesAbstract to label_RevenuesAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RevenuesAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RevenuesAbstract" xml:lang="en-US" id="label_RevenuesAbstract_2">Revenues:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenuesAbstract" xlink:to="label_RevenuesAbstract_2" xlink:title="label: RevenuesAbstract to label_RevenuesAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_RevenuesAbstract_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_RevenuesAbstract" xml:lang="en-US" id="label_RevenuesAbstract_3">Revenue Recognition</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenuesAbstract" xlink:to="label_RevenuesAbstract_3" xlink:title="label: RevenuesAbstract to label_RevenuesAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StraightLineRent" xlink:label="StraightLineRent" xlink:title="StraightLineRent" />
    <link:label xlink:type="resource" xlink:label="label_StraightLineRent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StraightLineRent" xml:lang="en-US" id="label_StraightLineRent">Straight Line Rent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StraightLineRent" xlink:to="label_StraightLineRent" xlink:title="label: StraightLineRent to label_StraightLineRent" use="optional" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StraightLineRent" xlink:to="label_StraightLineRent_2" xlink:title="label: StraightLineRent to label_StraightLineRent" use="optional" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" />
    <link:label xlink:type="resource" xlink:label="label_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xml:lang="en-US" id="label_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:title="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:to="label_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:title="label: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 to label_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" use="optional" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:to="label_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_2" xlink:title="label: SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 to label_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SalesOfRealEstate" xlink:label="SalesOfRealEstate" xlink:title="SalesOfRealEstate" />
    <link:label xlink:type="resource" xlink:label="label_SalesOfRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SalesOfRealEstate" xml:lang="en-US" id="label_SalesOfRealEstate">Sales of Real Estate</link:label>
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    <link:label xlink:type="resource" xlink:label="label_SalesOfRealEstate_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SalesOfRealEstate" xml:lang="en-US" id="label_SalesOfRealEstate_2">Sale of property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SalesOfRealEstate" xlink:to="label_SalesOfRealEstate_2" xlink:title="label: SalesOfRealEstate to label_SalesOfRealEstate" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:label="ScenarioUnspecifiedDomain" xlink:title="ScenarioUnspecifiedDomain" />
    <link:label xlink:type="resource" xlink:label="label_ScenarioUnspecifiedDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScenarioUnspecifiedDomain" xml:lang="en-US" id="label_ScenarioUnspecifiedDomain">Scenario, Unspecified [Domain]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ScheduleOfRealEstatePropertiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfRealEstatePropertiesTable" xml:lang="en-US" id="label_ScheduleOfRealEstatePropertiesTable">Schedule of Real Estate Properties [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfRealEstatePropertiesTable" xlink:to="label_ScheduleOfRealEstatePropertiesTable" xlink:title="label: ScheduleOfRealEstatePropertiesTable to label_ScheduleOfRealEstatePropertiesTable" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock" xlink:label="ScheduleOfNonvestedShareActivityTableTextBlock" xlink:title="ScheduleOfNonvestedShareActivityTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfNonvestedShareActivityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfNonvestedShareActivityTableTextBlock" xml:lang="en-US" id="label_ScheduleOfNonvestedShareActivityTableTextBlock">Schedule of Nonvested Share Activity [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfNonvestedShareActivityTableTextBlock" xlink:to="label_ScheduleOfNonvestedShareActivityTableTextBlock" xlink:title="label: ScheduleOfNonvestedShareActivityTableTextBlock to label_ScheduleOfNonvestedShareActivityTableTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfNonvestedShareActivityTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScheduleOfNonvestedShareActivityTableTextBlock" xml:lang="en-US" id="label_ScheduleOfNonvestedShareActivityTableTextBlock_2">Schedule of restricted stock activity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfNonvestedShareActivityTableTextBlock" xlink:to="label_ScheduleOfNonvestedShareActivityTableTextBlock_2" xlink:title="label: ScheduleOfNonvestedShareActivityTableTextBlock to label_ScheduleOfNonvestedShareActivityTableTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:label="ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:title="ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xml:lang="en-US" id="label_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock">Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xml:lang="en-US" id="label_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_2">Schedule of nonqualified stock option activity</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfComprehensiveIncomeLossTableTextBlock" xlink:label="ScheduleOfComprehensiveIncomeLossTableTextBlock" xlink:title="ScheduleOfComprehensiveIncomeLossTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfComprehensiveIncomeLossTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfComprehensiveIncomeLossTableTextBlock" xml:lang="en-US" id="label_ScheduleOfComprehensiveIncomeLossTableTextBlock">Schedule of Comprehensive Income (Loss) [Table Text Block]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ScheduleOfComprehensiveIncomeLossTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScheduleOfComprehensiveIncomeLossTableTextBlock" xml:lang="en-US" id="label_ScheduleOfComprehensiveIncomeLossTableTextBlock_2">Schedule of consolidated comprehensive income</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfStockholdersEquityTableTextBlock" xlink:label="ScheduleOfStockholdersEquityTableTextBlock" xlink:title="ScheduleOfStockholdersEquityTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfStockholdersEquityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfStockholdersEquityTableTextBlock" xml:lang="en-US" id="label_ScheduleOfStockholdersEquityTableTextBlock">Schedule of Stockholders Equity [Table Text Block]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ScheduleOfStockholdersEquityTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScheduleOfStockholdersEquityTableTextBlock" xml:lang="en-US" id="label_ScheduleOfStockholdersEquityTableTextBlock_2">Schedule of allocation of equity between controlling and non-controlling interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfStockholdersEquityTableTextBlock" xlink:to="label_ScheduleOfStockholdersEquityTableTextBlock_2" xlink:title="label: ScheduleOfStockholdersEquityTableTextBlock to label_ScheduleOfStockholdersEquityTableTextBlock" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock" xlink:label="ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock" xlink:title="ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock" xlink:label="ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock" xlink:title="ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock" />
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    <link:label xlink:type="resource" xlink:label="label_SeriesFPreferredStockMember_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_SeriesFPreferredStockMember" xml:lang="en-US" id="label_SeriesFPreferredStockMember_2">Series F Preferred Stock</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xml:lang="en-US" id="label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_2">Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:label="ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:title="ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" />
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    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xml:lang="en-US" id="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized">Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsAndMethodologyAbstract" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsAndMethodologyAbstract" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsAndMethodologyAbstract" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xlink:to="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_2" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod to label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber" xml:lang="en-US" id="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber" xlink:to="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber to label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber" xml:lang="en-US" id="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_2">Number of stock options that are scheduled to vest in the future (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber" xlink:to="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_2" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber to label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xml:lang="en-US" id="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:to="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice to label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_2" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xml:lang="en-US" id="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_2">Outstanding at the beginning of the year (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:to="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_2" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice to label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_3" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xml:lang="en-US" id="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_3">Outstanding at the end of the year (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:to="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_3" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice to label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xml:lang="en-US" id="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_4">Weighted average exercise price of the options (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:to="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_4" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice to label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:label="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:title="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xml:lang="en-US" id="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:to="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber to label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xml:lang="en-US" id="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_2">Options outstanding at end of the period (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:to="label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_2" xlink:title="label: ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber to label_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:title="ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xml:lang="en-US" id="label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain">Award Type [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:to="label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:title="label: ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain to label_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:label="ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:title="ShareBasedCompensationOptionAndIncentivePlansPolicy" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShareBasedCompensationOptionAndIncentivePlansPolicy" xml:lang="en-US" id="label_ShareBasedCompensationOptionAndIncentivePlansPolicy">Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:to="label_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:title="label: ShareBasedCompensationOptionAndIncentivePlansPolicy to label_ShareBasedCompensationOptionAndIncentivePlansPolicy" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensationOptionAndIncentivePlansPolicy_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShareBasedCompensationOptionAndIncentivePlansPolicy" xml:lang="en-US" id="label_ShareBasedCompensationOptionAndIncentivePlansPolicy_2">Stock-Based Compensation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:to="label_ShareBasedCompensationOptionAndIncentivePlansPolicy_2" xlink:title="label: ShareBasedCompensationOptionAndIncentivePlansPolicy to label_ShareBasedCompensationOptionAndIncentivePlansPolicy" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SharesOutstanding" xlink:label="SharesOutstanding" xlink:title="SharesOutstanding" />
    <link:label xlink:type="resource" xlink:label="label_SharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SharesOutstanding" xml:lang="en-US" id="label_SharesOutstanding">Shares, Outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharesOutstanding" xlink:to="label_SharesOutstanding" xlink:title="label: SharesOutstanding to label_SharesOutstanding" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SharesOutstanding_2" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_SharesOutstanding" xml:lang="en-US" id="label_SharesOutstanding_2">Balance (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharesOutstanding" xlink:to="label_SharesOutstanding_2" xlink:title="label: SharesOutstanding to label_SharesOutstanding" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SharesOutstanding_3" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_SharesOutstanding" xml:lang="en-US" id="label_SharesOutstanding_3">Balance (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharesOutstanding" xlink:to="label_SharesOutstanding_3" xlink:title="label: SharesOutstanding to label_SharesOutstanding" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SignificantAcquisitionsAndDisposalsLineItems" xlink:label="SignificantAcquisitionsAndDisposalsLineItems" xlink:title="SignificantAcquisitionsAndDisposalsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_SignificantAcquisitionsAndDisposalsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SignificantAcquisitionsAndDisposalsLineItems" xml:lang="en-US" id="label_SignificantAcquisitionsAndDisposalsLineItems">Significant Acquisitions and Disposals [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SignificantAcquisitionsAndDisposalsLineItems" xlink:to="label_SignificantAcquisitionsAndDisposalsLineItems" xlink:title="label: SignificantAcquisitionsAndDisposalsLineItems to label_SignificantAcquisitionsAndDisposalsLineItems" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SignificantAcquisitionsAndDisposalsLineItems_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SignificantAcquisitionsAndDisposalsLineItems" xml:lang="en-US" id="label_SignificantAcquisitionsAndDisposalsLineItems_2">Sale of property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SignificantAcquisitionsAndDisposalsLineItems" xlink:to="label_SignificantAcquisitionsAndDisposalsLineItems_2" xlink:title="label: SignificantAcquisitionsAndDisposalsLineItems to label_SignificantAcquisitionsAndDisposalsLineItems" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementTable" xlink:label="StatementTable" xlink:title="StatementTable" />
    <link:label xlink:type="resource" xlink:label="label_StatementTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementTable" xml:lang="en-US" id="label_StatementTable">Statement [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementTable" xlink:to="label_StatementTable" xlink:title="label: StatementTable to label_StatementTable" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementScenarioAxis" xlink:label="StatementScenarioAxis" xlink:title="StatementScenarioAxis" />
    <link:label xlink:type="resource" xlink:label="label_StatementScenarioAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementScenarioAxis" xml:lang="en-US" id="label_StatementScenarioAxis">Scenario [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementScenarioAxis" xlink:to="label_StatementScenarioAxis" xlink:title="label: StatementScenarioAxis to label_StatementScenarioAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementLineItems" xlink:label="StatementLineItems" xlink:title="StatementLineItems" />
    <link:label xlink:type="resource" xlink:label="label_StatementLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementLineItems" xml:lang="en-US" id="label_StatementLineItems">Statement [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementLineItems" xlink:to="label_StatementLineItems" xlink:title="label: StatementLineItems to label_StatementLineItems" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StatementLineItems_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StatementLineItems" xml:lang="en-US" id="label_StatementLineItems_2">Statement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementLineItems" xlink:to="label_StatementLineItems_2" xlink:title="label: StatementLineItems to label_StatementLineItems" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="StatementOfStockholdersEquityAbstract" xlink:title="StatementOfStockholdersEquityAbstract" />
    <link:label xlink:type="resource" xlink:label="label_StatementOfStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementOfStockholdersEquityAbstract" xml:lang="en-US" id="label_StatementOfStockholdersEquityAbstract">CONSOLIDATED STATEMENTS OF EQUITY</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfStockholdersEquityAbstract" xlink:to="label_StatementOfStockholdersEquityAbstract" xlink:title="label: StatementOfStockholdersEquityAbstract to label_StatementOfStockholdersEquityAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="StatementOfCashFlowsAbstract" xlink:title="StatementOfCashFlowsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementOfCashFlowsAbstract" xml:lang="en-US" id="label_StatementOfCashFlowsAbstract">CONSOLIDATED STATEMENTS OF CASH FLOWS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfCashFlowsAbstract" xlink:to="label_StatementOfCashFlowsAbstract" xlink:title="label: StatementOfCashFlowsAbstract to label_StatementOfCashFlowsAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="StatementEquityComponentsAxis" xlink:title="StatementEquityComponentsAxis" />
    <link:label xlink:type="resource" xlink:label="label_StatementEquityComponentsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementEquityComponentsAxis" xml:lang="en-US" id="label_StatementEquityComponentsAxis">Equity Components [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementEquityComponentsAxis" xlink:to="label_StatementEquityComponentsAxis" xlink:title="label: StatementEquityComponentsAxis to label_StatementEquityComponentsAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="StatementOfFinancialPositionAbstract" xlink:title="StatementOfFinancialPositionAbstract" />
    <link:label xlink:type="resource" xlink:label="label_StatementOfFinancialPositionAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementOfFinancialPositionAbstract" xml:lang="en-US" id="label_StatementOfFinancialPositionAbstract">CONSOLIDATED BALANCE SHEETS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfFinancialPositionAbstract" xlink:to="label_StatementOfFinancialPositionAbstract" xlink:title="label: StatementOfFinancialPositionAbstract to label_StatementOfFinancialPositionAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:label="StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:title="StatementOfIncomeAndComprehensiveIncomeAbstract" />
    <link:label xlink:type="resource" xlink:label="label_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementOfIncomeAndComprehensiveIncomeAbstract" xml:lang="en-US" id="label_StatementOfIncomeAndComprehensiveIncomeAbstract">CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:to="label_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:title="label: StatementOfIncomeAndComprehensiveIncomeAbstract to label_StatementOfIncomeAndComprehensiveIncomeAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="StatementClassOfStockAxis" xlink:title="StatementClassOfStockAxis" />
    <link:label xlink:type="resource" xlink:label="label_StatementClassOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementClassOfStockAxis" xml:lang="en-US" id="label_StatementClassOfStockAxis">Class of Stock [Axis]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodSharesPeriodIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockIssuedDuringPeriodSharesPeriodIncreaseDecrease" xml:lang="en-US" id="label_StockIssuedDuringPeriodSharesPeriodIncreaseDecrease">Stock Issued During Period, Shares, Period Increase (Decrease)</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockRedeemedOrCalledDuringPeriodShares" xlink:label="StockRedeemedOrCalledDuringPeriodShares" xlink:title="StockRedeemedOrCalledDuringPeriodShares" />
    <link:label xlink:type="resource" xlink:label="label_StockRedeemedOrCalledDuringPeriodShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockRedeemedOrCalledDuringPeriodShares" xml:lang="en-US" id="label_StockRedeemedOrCalledDuringPeriodShares">Stock Redeemed or Called During Period, Shares</link:label>
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    <link:label xlink:type="resource" xlink:label="label_StockRedeemedOrCalledDuringPeriodShares_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockRedeemedOrCalledDuringPeriodShares" xml:lang="en-US" id="label_StockRedeemedOrCalledDuringPeriodShares_2">Number of shares of preferred stock redeemed</link:label>
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    <link:label xlink:type="resource" xlink:label="label_StockRedeemedOrCalledDuringPeriodShares_3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_StockRedeemedOrCalledDuringPeriodShares" xml:lang="en-US" id="label_StockRedeemedOrCalledDuringPeriodShares_3">Redemption of preferred stock, partial and full (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockRedeemedOrCalledDuringPeriodShares" xlink:to="label_StockRedeemedOrCalledDuringPeriodShares_3" xlink:title="label: StockRedeemedOrCalledDuringPeriodShares to label_StockRedeemedOrCalledDuringPeriodShares" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased" xlink:label="StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased" xlink:title="StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased" />
    <link:label xlink:type="resource" xlink:label="label_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased" xml:lang="en-US" id="label_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased">Stock Repurchase Program, Number of Shares Authorized to be Repurchased</link:label>
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    <link:label xlink:type="resource" xlink:label="label_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased" xml:lang="en-US" id="label_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased_2">Number of shares authorized to be repurchased</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased" xlink:to="label_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased_2" xlink:title="label: StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased to label_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardGross" xlink:label="StockIssuedDuringPeriodSharesRestrictedStockAwardGross" xlink:title="StockIssuedDuringPeriodSharesRestrictedStockAwardGross" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodSharesRestrictedStockAwardGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockIssuedDuringPeriodSharesRestrictedStockAwardGross" xml:lang="en-US" id="label_StockIssuedDuringPeriodSharesRestrictedStockAwardGross">Stock Issued During Period, Shares, Restricted Stock Award, Gross</link:label>
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    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodSharesRestrictedStockAwardGross_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockIssuedDuringPeriodSharesRestrictedStockAwardGross" xml:lang="en-US" id="label_StockIssuedDuringPeriodSharesRestrictedStockAwardGross_2">Number of shares granted (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodSharesRestrictedStockAwardGross" xlink:to="label_StockIssuedDuringPeriodSharesRestrictedStockAwardGross_2" xlink:title="label: StockIssuedDuringPeriodSharesRestrictedStockAwardGross to label_StockIssuedDuringPeriodSharesRestrictedStockAwardGross" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:label="StockIssuedDuringPeriodValueStockOptionsExercised" xlink:title="StockIssuedDuringPeriodValueStockOptionsExercised" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockIssuedDuringPeriodValueStockOptionsExercised" xml:lang="en-US" id="label_StockIssuedDuringPeriodValueStockOptionsExercised">Stock Issued During Period, Value, Stock Options Exercised</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodValueStockOptionsExercised" xlink:to="label_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:title="label: StockIssuedDuringPeriodValueStockOptionsExercised to label_StockIssuedDuringPeriodValueStockOptionsExercised" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodValueStockOptionsExercised_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockIssuedDuringPeriodValueStockOptionsExercised" xml:lang="en-US" id="label_StockIssuedDuringPeriodValueStockOptionsExercised_2">Stock option exercises</link:label>
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    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodValueStockOptionsExercised_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_StockIssuedDuringPeriodValueStockOptionsExercised" xml:lang="en-US" id="label_StockIssuedDuringPeriodValueStockOptionsExercised_3">Total option value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodValueStockOptionsExercised" xlink:to="label_StockIssuedDuringPeriodValueStockOptionsExercised_3" xlink:title="label: StockIssuedDuringPeriodValueStockOptionsExercised to label_StockIssuedDuringPeriodValueStockOptionsExercised" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:label="StockIssuedDuringPeriodValueNewIssues" xlink:title="StockIssuedDuringPeriodValueNewIssues" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodValueNewIssues" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockIssuedDuringPeriodValueNewIssues" xml:lang="en-US" id="label_StockIssuedDuringPeriodValueNewIssues">Stock Issued During Period, Value, New Issues</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodValueNewIssues" xlink:to="label_StockIssuedDuringPeriodValueNewIssues" xlink:title="label: StockIssuedDuringPeriodValueNewIssues to label_StockIssuedDuringPeriodValueNewIssues" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodValueNewIssues_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockIssuedDuringPeriodValueNewIssues" xml:lang="en-US" id="label_StockIssuedDuringPeriodValueNewIssues_2">Issue common stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodValueNewIssues" xlink:to="label_StockIssuedDuringPeriodValueNewIssues_2" xlink:title="label: StockIssuedDuringPeriodValueNewIssues to label_StockIssuedDuringPeriodValueNewIssues" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockRedeemedOrCalledDuringPeriodValue" xlink:label="StockRedeemedOrCalledDuringPeriodValue" xlink:title="StockRedeemedOrCalledDuringPeriodValue" />
    <link:label xlink:type="resource" xlink:label="label_StockRedeemedOrCalledDuringPeriodValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockRedeemedOrCalledDuringPeriodValue" xml:lang="en-US" id="label_StockRedeemedOrCalledDuringPeriodValue">Stock Redeemed or Called During Period, Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockRedeemedOrCalledDuringPeriodValue" xlink:to="label_StockRedeemedOrCalledDuringPeriodValue" xlink:title="label: StockRedeemedOrCalledDuringPeriodValue to label_StockRedeemedOrCalledDuringPeriodValue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockRedeemedOrCalledDuringPeriodValue_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_StockRedeemedOrCalledDuringPeriodValue" xml:lang="en-US" id="label_StockRedeemedOrCalledDuringPeriodValue_2">Redemption of preferred stock, partial and full</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockRedeemedOrCalledDuringPeriodValue" xlink:to="label_StockRedeemedOrCalledDuringPeriodValue_2" xlink:title="label: StockRedeemedOrCalledDuringPeriodValue to label_StockRedeemedOrCalledDuringPeriodValue" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockRepurchasedAndRetiredDuringPeriodShares" xlink:label="StockRepurchasedAndRetiredDuringPeriodShares" xlink:title="StockRepurchasedAndRetiredDuringPeriodShares" />
    <link:label xlink:type="resource" xlink:label="label_StockRepurchasedAndRetiredDuringPeriodShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockRepurchasedAndRetiredDuringPeriodShares" xml:lang="en-US" id="label_StockRepurchasedAndRetiredDuringPeriodShares">Stock Repurchased and Retired During Period, Shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockRepurchasedAndRetiredDuringPeriodShares" xlink:to="label_StockRepurchasedAndRetiredDuringPeriodShares" xlink:title="label: StockRepurchasedAndRetiredDuringPeriodShares to label_StockRepurchasedAndRetiredDuringPeriodShares" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockRepurchasedAndRetiredDuringPeriodShares_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockRepurchasedAndRetiredDuringPeriodShares" xml:lang="en-US" id="label_StockRepurchasedAndRetiredDuringPeriodShares_2">Number of shares repurchased</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockRepurchasedDuringPeriodValue" xlink:label="StockRepurchasedDuringPeriodValue" xlink:title="StockRepurchasedDuringPeriodValue" />
    <link:label xlink:type="resource" xlink:label="label_StockRepurchasedDuringPeriodValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockRepurchasedDuringPeriodValue" xml:lang="en-US" id="label_StockRepurchasedDuringPeriodValue">Stock Repurchased During Period, Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockRepurchasedDuringPeriodValue" xlink:to="label_StockRepurchasedDuringPeriodValue" xlink:title="label: StockRepurchasedDuringPeriodValue to label_StockRepurchasedDuringPeriodValue" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockRepurchasedDuringPeriodValue_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_StockRepurchasedDuringPeriodValue" xml:lang="en-US" id="label_StockRepurchasedDuringPeriodValue_2">Repurchase of stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockRepurchasedDuringPeriodValue" xlink:to="label_StockRepurchasedDuringPeriodValue_2" xlink:title="label: StockRepurchasedDuringPeriodValue to label_StockRepurchasedDuringPeriodValue" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments" xlink:label="StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments" xlink:title="StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments" xml:lang="en-US" id="label_StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments">Stock Issued During Period, Value, Conversion of Convertible Securities, Net of Adjustments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments" xlink:to="label_StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments" xlink:title="label: StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments to label_StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments" xml:lang="en-US" id="label_StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments_2">Conversion of 8.5% Series E Preferred Stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments" xlink:to="label_StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments_2" xlink:title="label: StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments to label_StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:label="StockIssuedDuringPeriodSharesNewIssues" xlink:title="StockIssuedDuringPeriodSharesNewIssues" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodSharesNewIssues" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockIssuedDuringPeriodSharesNewIssues" xml:lang="en-US" id="label_StockIssuedDuringPeriodSharesNewIssues">Stock Issued During Period, Shares, New Issues</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodSharesNewIssues" xlink:to="label_StockIssuedDuringPeriodSharesNewIssues" xlink:title="label: StockIssuedDuringPeriodSharesNewIssues to label_StockIssuedDuringPeriodSharesNewIssues" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodSharesNewIssues_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockIssuedDuringPeriodSharesNewIssues" xml:lang="en-US" id="label_StockIssuedDuringPeriodSharesNewIssues_2">Issue common stock (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodSharesNewIssues" xlink:to="label_StockIssuedDuringPeriodSharesNewIssues_2" xlink:title="label: StockIssuedDuringPeriodSharesNewIssues to label_StockIssuedDuringPeriodSharesNewIssues" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodSharesNewIssues_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_StockIssuedDuringPeriodSharesNewIssues" xml:lang="en-US" id="label_StockIssuedDuringPeriodSharesNewIssues_3">Shares common stock sold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodSharesNewIssues" xlink:to="label_StockIssuedDuringPeriodSharesNewIssues_3" xlink:title="label: StockIssuedDuringPeriodSharesNewIssues to label_StockIssuedDuringPeriodSharesNewIssues" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased" xlink:label="StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased" xlink:title="StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased" />
    <link:label xlink:type="resource" xlink:label="label_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased" xml:lang="en-US" id="label_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased">Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased" xlink:to="label_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased" xlink:title="label: StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased to label_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased" xml:lang="en-US" id="label_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased_2">Remaining number of shares authorized to be repurchased</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased" xlink:to="label_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased_2" xlink:title="label: StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased to label_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockRepurchasedDuringPeriodShares" xlink:label="StockRepurchasedDuringPeriodShares" xlink:title="StockRepurchasedDuringPeriodShares" />
    <link:label xlink:type="resource" xlink:label="label_StockRepurchasedDuringPeriodShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockRepurchasedDuringPeriodShares" xml:lang="en-US" id="label_StockRepurchasedDuringPeriodShares">Stock Repurchased During Period, Shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockRepurchasedDuringPeriodShares" xlink:to="label_StockRepurchasedDuringPeriodShares" xlink:title="label: StockRepurchasedDuringPeriodShares to label_StockRepurchasedDuringPeriodShares" use="optional" />
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    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodSharesStockOptionsExercised_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockIssuedDuringPeriodSharesStockOptionsExercised" xml:lang="en-US" id="label_StockIssuedDuringPeriodSharesStockOptionsExercised_2">Number of shares exercised</link:label>
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    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities" xml:lang="en-US" id="label_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_2">Conversion of 8.5% Series E Preferred Stock (in shares)</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueOther" xlink:label="StockIssuedDuringPeriodValueOther" xlink:title="StockIssuedDuringPeriodValueOther" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodValueOther_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_StockIssuedDuringPeriodValueOther" xml:lang="en-US" id="label_StockIssuedDuringPeriodValueOther_2">Other</link:label>
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    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodValueOther" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockIssuedDuringPeriodValueOther" xml:lang="en-US" id="label_StockIssuedDuringPeriodValueOther">Stock Issued During Period, Value, Other</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures" xlink:label="StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures" xlink:title="StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures" xml:lang="en-US" id="label_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures">Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures</link:label>
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    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures" xml:lang="en-US" id="label_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures_2">Issue restricted stock</link:label>
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    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures" xml:lang="en-US" id="label_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures_3">Restricted stock issued, net of cancellations</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xlink:label="StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xlink:title="StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" />
    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xml:lang="en-US" id="label_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures">Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures</link:label>
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    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xml:lang="en-US" id="label_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_2">Issue restricted stock (in shares)</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:label="StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:title="StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" />
    <link:label xlink:type="resource" xlink:label="label_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xml:lang="en-US" id="label_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract">Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:to="label_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:title="label: StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract to label_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xml:lang="en-US" id="label_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_2">EQUITY</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:title="StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" />
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    <link:label xlink:type="resource" xlink:label="label_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xml:lang="en-US" id="label_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_2">Total equity</link:label>
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    <link:label xlink:type="resource" xlink:label="label_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_4" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xml:lang="en-US" id="label_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_4">Balance</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="StockholdersEquityAbstract" xlink:title="StockholdersEquityAbstract" />
    <link:label xlink:type="resource" xlink:label="label_StockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockholdersEquityAbstract" xml:lang="en-US" id="label_StockholdersEquityAbstract">Stockholders' Equity Attributable to Parent [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquityAbstract" xlink:to="label_StockholdersEquityAbstract" xlink:title="label: StockholdersEquityAbstract to label_StockholdersEquityAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockholdersEquityAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockholdersEquityAbstract" xml:lang="en-US" id="label_StockholdersEquityAbstract_2">Stockholders' equity:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquityAbstract" xlink:to="label_StockholdersEquityAbstract_2" xlink:title="label: StockholdersEquityAbstract to label_StockholdersEquityAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="StockholdersEquity" xlink:title="StockholdersEquity" />
    <link:label xlink:type="resource" xlink:label="label_StockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockholdersEquity" xml:lang="en-US" id="label_StockholdersEquity">Stockholders' Equity Attributable to Parent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquity" xlink:to="label_StockholdersEquity" xlink:title="label: StockholdersEquity to label_StockholdersEquity" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockholdersEquity_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_StockholdersEquity" xml:lang="en-US" id="label_StockholdersEquity_2">Total LTC Properties, Inc. stockholders' equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquity" xlink:to="label_StockholdersEquity_2" xlink:title="label: StockholdersEquity to label_StockholdersEquity" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockholdersEquity_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockholdersEquity" xml:lang="en-US" id="label_StockholdersEquity_3">Stockholders' equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquity" xlink:to="label_StockholdersEquity_3" xlink:title="label: StockholdersEquity to label_StockholdersEquity" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityNoteAbstract" xlink:label="StockholdersEquityNoteAbstract" xlink:title="StockholdersEquityNoteAbstract" />
    <link:label xlink:type="resource" xlink:label="label_StockholdersEquityNoteAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockholdersEquityNoteAbstract" xml:lang="en-US" id="label_StockholdersEquityNoteAbstract">Equity</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:label="StockholdersEquityNoteDisclosureTextBlock" xlink:title="StockholdersEquityNoteDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_StockholdersEquityNoteDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockholdersEquityNoteDisclosureTextBlock" xml:lang="en-US" id="label_StockholdersEquityNoteDisclosureTextBlock">Stockholders' Equity Note Disclosure [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquityNoteDisclosureTextBlock" xlink:to="label_StockholdersEquityNoteDisclosureTextBlock" xlink:title="label: StockholdersEquityNoteDisclosureTextBlock to label_StockholdersEquityNoteDisclosureTextBlock" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_StockholdersEquityNoteDisclosureTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockholdersEquityNoteDisclosureTextBlock" xml:lang="en-US" id="label_StockholdersEquityNoteDisclosureTextBlock_2">Equity</link:label>
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    <link:label xlink:type="resource" xlink:label="label_SubsequentEventsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SubsequentEventsTextBlock" xml:lang="en-US" id="label_SubsequentEventsTextBlock">Subsequent Events [Text Block]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_SubsequentEventsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SubsequentEventsAbstract" xml:lang="en-US" id="label_SubsequentEventsAbstract">Subsequent Events</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubsequentEventsAbstract" xlink:to="label_SubsequentEventsAbstract" xlink:title="label: SubsequentEventsAbstract to label_SubsequentEventsAbstract" use="optional" />
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    <link:label xlink:type="resource" xlink:label="label_SubsequentEventTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SubsequentEventTypeDomain" xml:lang="en-US" id="label_SubsequentEventTypeDomain">Subsequent Event Type [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubsequentEventTypeDomain" xlink:to="label_SubsequentEventTypeDomain" xlink:title="label: SubsequentEventTypeDomain to label_SubsequentEventTypeDomain" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SubsequentEventLineItems" xlink:label="SubsequentEventLineItems" xlink:title="SubsequentEventLineItems" />
    <link:label xlink:type="resource" xlink:label="label_SubsequentEventLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SubsequentEventLineItems" xml:lang="en-US" id="label_SubsequentEventLineItems">Subsequent Event [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubsequentEventLineItems" xlink:to="label_SubsequentEventLineItems" xlink:title="label: SubsequentEventLineItems to label_SubsequentEventLineItems" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SubsequentEventLineItems_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SubsequentEventLineItems" xml:lang="en-US" id="label_SubsequentEventLineItems_2">Subsequent Events</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubsequentEventLineItems" xlink:to="label_SubsequentEventLineItems_2" xlink:title="label: SubsequentEventLineItems to label_SubsequentEventLineItems" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SubsequentEventTypeAxis" xlink:label="SubsequentEventTypeAxis" xlink:title="SubsequentEventTypeAxis" />
    <link:label xlink:type="resource" xlink:label="label_SubsequentEventTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SubsequentEventTypeAxis" xml:lang="en-US" id="label_SubsequentEventTypeAxis">Subsequent Event Type [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubsequentEventTypeAxis" xlink:to="label_SubsequentEventTypeAxis" xlink:title="label: SubsequentEventTypeAxis to label_SubsequentEventTypeAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SubsequentEventTable" xlink:label="SubsequentEventTable" xlink:title="SubsequentEventTable" />
    <link:label xlink:type="resource" xlink:label="label_SubsequentEventTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SubsequentEventTable" xml:lang="en-US" id="label_SubsequentEventTable">Subsequent Event [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubsequentEventTable" xlink:to="label_SubsequentEventTable" xlink:title="label: SubsequentEventTable to label_SubsequentEventTable" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SubsequentEventMember" xlink:label="SubsequentEventMember" xlink:title="SubsequentEventMember" />
    <link:label xlink:type="resource" xlink:label="label_SubsequentEventMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SubsequentEventMember" xml:lang="en-US" id="label_SubsequentEventMember">Subsequent Event [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubsequentEventMember" xlink:to="label_SubsequentEventMember" xlink:title="label: SubsequentEventMember to label_SubsequentEventMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SubsequentEventMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SubsequentEventMember" xml:lang="en-US" id="label_SubsequentEventMember_2">Loan paid off</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubsequentEventMember" xlink:to="label_SubsequentEventMember_2" xlink:title="label: SubsequentEventMember to label_SubsequentEventMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SubsequentEventMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_SubsequentEventMember" xml:lang="en-US" id="label_SubsequentEventMember_3">Subsequent Event</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubsequentEventMember" xlink:to="label_SubsequentEventMember_3" xlink:title="label: SubsequentEventMember to label_SubsequentEventMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SubsidiariesMember" xlink:label="SubsidiariesMember" xlink:title="SubsidiariesMember" />
    <link:label xlink:type="resource" xlink:label="label_SubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SubsidiariesMember" xml:lang="en-US" id="label_SubsidiariesMember">Subsidiaries [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubsidiariesMember" xlink:to="label_SubsidiariesMember" xlink:title="label: SubsidiariesMember to label_SubsidiariesMember" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_SubsidiariesMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SubsidiariesMember" xml:lang="en-US" id="label_SubsidiariesMember_2">Single purpose subsidiaries</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubsidiariesMember" xlink:to="label_SubsidiariesMember_2" xlink:title="label: SubsidiariesMember to label_SubsidiariesMember" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="SupplementalCashFlowInformationAbstract" xlink:title="SupplementalCashFlowInformationAbstract" />
    <link:label xlink:type="resource" xlink:label="label_SupplementalCashFlowInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SupplementalCashFlowInformationAbstract" xml:lang="en-US" id="label_SupplementalCashFlowInformationAbstract">Supplemental Cash Flow Information</link:label>
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    <link:label xlink:type="resource" xlink:label="label_SupplementalCashFlowInformationAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SupplementalCashFlowInformationAbstract" xml:lang="en-US" id="label_SupplementalCashFlowInformationAbstract_2">SUPPLEMENTAL CASH FLOW INFORMATION:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SupplementalCashFlowInformationAbstract" xlink:to="label_SupplementalCashFlowInformationAbstract_2" xlink:title="label: SupplementalCashFlowInformationAbstract to label_SupplementalCashFlowInformationAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_TreasuryStockAcquiredAverageCostPerShare" xlink:label="TreasuryStockAcquiredAverageCostPerShare" xlink:title="TreasuryStockAcquiredAverageCostPerShare" />
    <link:label xlink:type="resource" xlink:label="label_TreasuryStockAcquiredAverageCostPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TreasuryStockAcquiredAverageCostPerShare" xml:lang="en-US" id="label_TreasuryStockAcquiredAverageCostPerShare">Treasury Stock Acquired, Average Cost Per Share</link:label>
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    <link:label xlink:type="resource" xlink:label="label_TreasuryStockAcquiredAverageCostPerShare_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TreasuryStockAcquiredAverageCostPerShare" xml:lang="en-US" id="label_TreasuryStockAcquiredAverageCostPerShare_2">Purchase price per share (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TreasuryStockAcquiredAverageCostPerShare" xlink:to="label_TreasuryStockAcquiredAverageCostPerShare_2" xlink:title="label: TreasuryStockAcquiredAverageCostPerShare to label_TreasuryStockAcquiredAverageCostPerShare" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_TreasuryStockSharesRetired" xlink:label="TreasuryStockSharesRetired" xlink:title="TreasuryStockSharesRetired" />
    <link:label xlink:type="resource" xlink:label="label_TreasuryStockSharesRetired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TreasuryStockSharesRetired" xml:lang="en-US" id="label_TreasuryStockSharesRetired">Treasury Stock, Shares, Retired</link:label>
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    <link:label xlink:type="resource" xlink:label="label_TreasuryStockSharesRetired_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TreasuryStockSharesRetired" xml:lang="en-US" id="label_TreasuryStockSharesRetired_2">Number of shares repurchased and retired (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TreasuryStockSharesRetired" xlink:to="label_TreasuryStockSharesRetired_2" xlink:title="label: TreasuryStockSharesRetired to label_TreasuryStockSharesRetired" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_UndistributedEarningsAllocatedToParticipatingSecurities" xlink:label="UndistributedEarningsAllocatedToParticipatingSecurities" xlink:title="UndistributedEarningsAllocatedToParticipatingSecurities" />
    <link:label xlink:type="resource" xlink:label="label_UndistributedEarningsAllocatedToParticipatingSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UndistributedEarningsAllocatedToParticipatingSecurities" xml:lang="en-US" id="label_UndistributedEarningsAllocatedToParticipatingSecurities">Undistributed Earnings Allocated to Participating Securities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UndistributedEarningsAllocatedToParticipatingSecurities" xlink:to="label_UndistributedEarningsAllocatedToParticipatingSecurities" xlink:title="label: UndistributedEarningsAllocatedToParticipatingSecurities to label_UndistributedEarningsAllocatedToParticipatingSecurities" use="optional" />
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    <link:label xlink:type="resource" xlink:label="label_UndistributedEarningsAllocatedToParticipatingSecurities_3" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_UndistributedEarningsAllocatedToParticipatingSecurities" xml:lang="en-US" id="label_UndistributedEarningsAllocatedToParticipatingSecurities_3">Nonforfeitable dividends on participating securities</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_UnsecuredDebt" xlink:label="UnsecuredDebt" xlink:title="UnsecuredDebt" />
    <link:label xlink:type="resource" xlink:label="label_UnsecuredDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UnsecuredDebt" xml:lang="en-US" id="label_UnsecuredDebt">Unsecured Debt</link:label>
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    <link:label xlink:type="resource" xlink:label="label_UnsecuredDebt_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_UnsecuredDebt" xml:lang="en-US" id="label_UnsecuredDebt_2">Senior unsecured notes</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ValuationAllowancesAndReservesDomain" xlink:label="ValuationAllowancesAndReservesDomain" xlink:title="ValuationAllowancesAndReservesDomain" />
    <link:label xlink:type="resource" xlink:label="label_ValuationAllowancesAndReservesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ValuationAllowancesAndReservesDomain" xml:lang="en-US" id="label_ValuationAllowancesAndReservesDomain">Valuation Allowances and Reserves [Domain]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ValuationAllowancesAndReservesChargedToCostAndExpense" xlink:label="ValuationAllowancesAndReservesChargedToCostAndExpense" xlink:title="ValuationAllowancesAndReservesChargedToCostAndExpense" />
    <link:label xlink:type="resource" xlink:label="label_ValuationAllowancesAndReservesChargedToCostAndExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ValuationAllowancesAndReservesChargedToCostAndExpense" xml:lang="en-US" id="label_ValuationAllowancesAndReservesChargedToCostAndExpense">Valuation Allowances and Reserves, Charged to Cost and Expense</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ValuationAllowancesAndReservesBalance" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ValuationAllowancesAndReservesBalance" xml:lang="en-US" id="label_ValuationAllowancesAndReservesBalance">Valuation Allowances and Reserves, Balance</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ValuationAllowancesAndReservesChargedToOtherAccounts" xlink:label="ValuationAllowancesAndReservesChargedToOtherAccounts" xlink:title="ValuationAllowancesAndReservesChargedToOtherAccounts" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ValuationAndQualifyingAccountsAbstract" xlink:label="ValuationAndQualifyingAccountsAbstract" xlink:title="ValuationAndQualifyingAccountsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ValuationAndQualifyingAccountsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ValuationAndQualifyingAccountsAbstract" xml:lang="en-US" id="label_ValuationAndQualifyingAccountsAbstract">SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ValuationAllowancesAndReservesTypeAxis" xlink:label="ValuationAllowancesAndReservesTypeAxis" xlink:title="ValuationAllowancesAndReservesTypeAxis" />
    <link:label xlink:type="resource" xlink:label="label_ValuationAllowancesAndReservesTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ValuationAllowancesAndReservesTypeAxis" xml:lang="en-US" id="label_ValuationAllowancesAndReservesTypeAxis">Valuation Allowances and Reserves Type [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ValuationAllowancesAndReservesTypeAxis" xlink:to="label_ValuationAllowancesAndReservesTypeAxis" xlink:title="label: ValuationAllowancesAndReservesTypeAxis to label_ValuationAllowancesAndReservesTypeAxis" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustmentAbstract" xlink:label="WeightedAverageNumberDilutedSharesOutstandingAdjustmentAbstract" xlink:title="WeightedAverageNumberDilutedSharesOutstandingAdjustmentAbstract" />
    <link:label xlink:type="resource" xlink:label="label_WeightedAverageNumberDilutedSharesOutstandingAdjustmentAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WeightedAverageNumberDilutedSharesOutstandingAdjustmentAbstract" xml:lang="en-US" id="label_WeightedAverageNumberDilutedSharesOutstandingAdjustmentAbstract">Weighted Average Number Diluted Shares Outstanding Adjustment [Abstract]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_WeightedAverageNumberDilutedSharesOutstandingAdjustmentAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_WeightedAverageNumberDilutedSharesOutstandingAdjustmentAbstract" xml:lang="en-US" id="label_WeightedAverageNumberDilutedSharesOutstandingAdjustmentAbstract_2">Effect of dilutive securities:</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:label="WeightedAverageNumberOfSharesOutstandingAbstract" xlink:title="WeightedAverageNumberOfSharesOutstandingAbstract" />
    <link:label xlink:type="resource" xlink:label="label_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WeightedAverageNumberOfSharesOutstandingAbstract" xml:lang="en-US" id="label_WeightedAverageNumberOfSharesOutstandingAbstract">Weighted Average Number of Shares Outstanding, Diluted [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageNumberOfSharesOutstandingAbstract" xlink:to="label_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:title="label: WeightedAverageNumberOfSharesOutstandingAbstract to label_WeightedAverageNumberOfSharesOutstandingAbstract" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_WeightedAverageNumberOfSharesOutstandingAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_WeightedAverageNumberOfSharesOutstandingAbstract" xml:lang="en-US" id="label_WeightedAverageNumberOfSharesOutstandingAbstract_2">Weighted average shares used to calculate earnings per common share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageNumberOfSharesOutstandingAbstract" xlink:to="label_WeightedAverageNumberOfSharesOutstandingAbstract_2" xlink:title="label: WeightedAverageNumberOfSharesOutstandingAbstract to label_WeightedAverageNumberOfSharesOutstandingAbstract" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="WeightedAverageNumberOfSharesOutstandingBasic" xlink:title="WeightedAverageNumberOfSharesOutstandingBasic" />
    <link:label xlink:type="resource" xlink:label="label_WeightedAverageNumberOfSharesOutstandingBasic" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WeightedAverageNumberOfSharesOutstandingBasic" xml:lang="en-US" id="label_WeightedAverageNumberOfSharesOutstandingBasic">Weighted Average Number of Shares Outstanding, Basic</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="label_WeightedAverageNumberOfSharesOutstandingBasic" xlink:title="label: WeightedAverageNumberOfSharesOutstandingBasic to label_WeightedAverageNumberOfSharesOutstandingBasic" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_WeightedAverageNumberOfSharesOutstandingBasic_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_WeightedAverageNumberOfSharesOutstandingBasic" xml:lang="en-US" id="label_WeightedAverageNumberOfSharesOutstandingBasic_2">Basic (in shares)</link:label>
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    <link:label xlink:type="resource" xlink:label="label_WeightedAverageNumberOfSharesOutstandingBasic_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_WeightedAverageNumberOfSharesOutstandingBasic" xml:lang="en-US" id="label_WeightedAverageNumberOfSharesOutstandingBasic_3">Shares for basic net income per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="label_WeightedAverageNumberOfSharesOutstandingBasic_3" xlink:title="label: WeightedAverageNumberOfSharesOutstandingBasic to label_WeightedAverageNumberOfSharesOutstandingBasic" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="WeightedAverageNumberOfDilutedSharesOutstanding" xlink:title="WeightedAverageNumberOfDilutedSharesOutstanding" />
    <link:label xlink:type="resource" xlink:label="label_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WeightedAverageNumberOfDilutedSharesOutstanding" xml:lang="en-US" id="label_WeightedAverageNumberOfDilutedSharesOutstanding">Weighted Average Number of Shares Outstanding, Diluted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="label_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:title="label: WeightedAverageNumberOfDilutedSharesOutstanding to label_WeightedAverageNumberOfDilutedSharesOutstanding" use="optional" />
    <link:label xlink:type="resource" xlink:label="label_WeightedAverageNumberOfDilutedSharesOutstanding_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_WeightedAverageNumberOfDilutedSharesOutstanding" xml:lang="en-US" id="label_WeightedAverageNumberOfDilutedSharesOutstanding_2">Diluted (in shares)</link:label>
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    <link:label xlink:type="resource" xlink:label="label_WeightedAverageNumberOfDilutedSharesOutstanding_3" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_WeightedAverageNumberOfDilutedSharesOutstanding" xml:lang="en-US" id="label_WeightedAverageNumberOfDilutedSharesOutstanding_3">Shares for diluted net income per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="label_WeightedAverageNumberOfDilutedSharesOutstanding_3" xlink:title="label: WeightedAverageNumberOfDilutedSharesOutstanding to label_WeightedAverageNumberOfDilutedSharesOutstanding" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:label="WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:title="WeightedAverageNumberDilutedSharesOutstandingAdjustment" />
    <link:label xlink:type="resource" xlink:label="label_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xml:lang="en-US" id="label_WeightedAverageNumberDilutedSharesOutstandingAdjustment">Weighted Average Number Diluted Shares Outstanding Adjustment</link:label>
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    <link:label xlink:type="resource" xlink:label="label_WeightedAverageNumberDilutedSharesOutstandingAdjustment_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xml:lang="en-US" id="label_WeightedAverageNumberDilutedSharesOutstandingAdjustment_2">Total effect of dilutive securities (in shares)</link:label>
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    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_LoanCommitmentsTotalAmountInvested" xlink:label="LoanCommitmentsTotalAmountInvested" xlink:title="LoanCommitmentsTotalAmountInvested" />
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    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NotesReceivableCarryingAmount" xlink:label="NotesReceivableCarryingAmount" xlink:title="NotesReceivableCarryingAmount" />
    <link:label xlink:type="resource" xlink:label="label_NotesReceivableCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NotesReceivableCarryingAmount" xml:lang="en-US" id="label_NotesReceivableCarryingAmount">Notes Receivable Carrying Amount</link:label>
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    <link:label xlink:type="resource" xlink:label="label_NotesReceivableCarryingAmount_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NotesReceivableCarryingAmount" xml:lang="en-US" id="label_NotesReceivableCarryingAmount_2">Represents the carrying amount of notes receivable for various loans and line of credit agreements.</link:label>
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    <link:label xlink:type="resource" xlink:label="label_NotesReceivableCarryingAmount_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NotesReceivableCarryingAmount" xml:lang="en-US" id="label_NotesReceivableCarryingAmount_3">Notes receivable carrying value</link:label>
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    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValueReclassifiedToStockholdersEquity" xlink:label="RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValueReclassifiedToStockholdersEquity" xlink:title="RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValueReclassifiedToStockholdersEquity" />
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    <link:label xlink:type="resource" xlink:label="label_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValueReclassifiedToStockholdersEquity_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValueReclassifiedToStockholdersEquity" xml:lang="en-US" id="label_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValueReclassifiedToStockholdersEquity_2">Represents the excess of the redemption value over the book value of the noncontrolling interest redeemed reclassified to stockholder's equity.</link:label>
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    <link:label xlink:type="resource" xlink:label="label_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValueReclassifiedToStockholdersEquity_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValueReclassifiedToStockholdersEquity" xml:lang="en-US" id="label_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValueReclassifiedToStockholdersEquity_3">Excess of redemption value over the book value reclassified to stockholder's equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValueReclassifiedToStockholdersEquity" xlink:to="label_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValueReclassifiedToStockholdersEquity_3" xlink:title="label: RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValueReclassifiedToStockholdersEquity to label_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValueReclassifiedToStockholdersEquity" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage" xlink:label="RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage" xlink:title="RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage" />
    <link:label xlink:type="resource" xlink:label="label_RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage" xml:lang="en-US" id="label_RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage">Rental And Interest Income Derived From Each Major Operator Percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage" xlink:to="label_RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage" xlink:title="label: RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage to label_RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage" />
    <link:label xlink:type="resource" xlink:label="label_RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage" xml:lang="en-US" id="label_RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage_2">Percentage of rental and interest income derived from each of the major operators.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage" xlink:to="label_RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage_2" xlink:title="label: RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage to label_RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage" />
    <link:label xlink:type="resource" xlink:label="label_RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage" xml:lang="en-US" id="label_RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage_3">Percentage of rental and interest income derived from each of the major operators</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage" xlink:to="label_RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage_3" xlink:title="label: RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage to label_RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_IncreaseDecreaseInDepreciation" xlink:label="IncreaseDecreaseInDepreciation" xlink:title="IncreaseDecreaseInDepreciation" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInDepreciation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseInDepreciation" xml:lang="en-US" id="label_IncreaseDecreaseInDepreciation">Increase (Decrease) in Depreciation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInDepreciation" xlink:to="label_IncreaseDecreaseInDepreciation" xlink:title="label: IncreaseDecreaseInDepreciation to label_IncreaseDecreaseInDepreciation" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInDepreciation_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseInDepreciation" xml:lang="en-US" id="label_IncreaseDecreaseInDepreciation_2">Increase of depreciation expense due to reclassification of property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInDepreciation" xlink:to="label_IncreaseDecreaseInDepreciation_2" xlink:title="label: IncreaseDecreaseInDepreciation to label_IncreaseDecreaseInDepreciation" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInDepreciation_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseDecreaseInDepreciation" xml:lang="en-US" id="label_IncreaseDecreaseInDepreciation_3">Represents the amount of changes in depreciation expense.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInDepreciation" xlink:to="label_IncreaseDecreaseInDepreciation_3" xlink:title="label: IncreaseDecreaseInDepreciation to label_IncreaseDecreaseInDepreciation" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital" xlink:label="ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital" xlink:title="ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital" />
    <link:label xlink:type="resource" xlink:label="label_ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital" xml:lang="en-US" id="label_ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital">Reclassification of Accumulated Costs to Additional Paid in Capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital" xlink:to="label_ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital" xlink:title="label: ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital to label_ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital" />
    <link:label xlink:type="resource" xlink:label="label_ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital" xml:lang="en-US" id="label_ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital_2">Reclassification of accumulated costs to additional paid in capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital" xlink:to="label_ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital_2" xlink:title="label: ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital to label_ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital" />
    <link:label xlink:type="resource" xlink:label="label_ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital" xml:lang="en-US" id="label_ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital_3">Represents the amount of reclassification of accumulated costs associated with the equity distribution agreement to additional paid in capital.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital" xlink:to="label_ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital_3" xlink:title="label: ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital to label_ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NumberOfLimitedPartners" xlink:label="NumberOfLimitedPartners" xlink:title="NumberOfLimitedPartners" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfLimitedPartners" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfLimitedPartners" xml:lang="en-US" id="label_NumberOfLimitedPartners">Number of Limited Partners</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfLimitedPartners" xlink:to="label_NumberOfLimitedPartners" xlink:title="label: NumberOfLimitedPartners to label_NumberOfLimitedPartners" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfLimitedPartners_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfLimitedPartners" xml:lang="en-US" id="label_NumberOfLimitedPartners_2">Number of limited partners</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfLimitedPartners" xlink:to="label_NumberOfLimitedPartners_2" xlink:title="label: NumberOfLimitedPartners to label_NumberOfLimitedPartners" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfLimitedPartners_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfLimitedPartners" xml:lang="en-US" id="label_NumberOfLimitedPartners_3">Represents the number of limited partners.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfLimitedPartners" xlink:to="label_NumberOfLimitedPartners_3" xlink:title="label: NumberOfLimitedPartners to label_NumberOfLimitedPartners" />
    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NumberOfBedsOrUnitsInRealEstatePropertyReclassifiedFromHeldForSaleToHeldForUse" xlink:label="NumberOfBedsOrUnitsInRealEstatePropertyReclassifiedFromHeldForSaleToHeldForUse" xlink:title="NumberOfBedsOrUnitsInRealEstatePropertyReclassifiedFromHeldForSaleToHeldForUse" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfBedsOrUnitsInRealEstatePropertyReclassifiedFromHeldForSaleToHeldForUse" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfBedsOrUnitsInRealEstatePropertyReclassifiedFromHeldForSaleToHeldForUse" xml:lang="en-US" id="label_NumberOfBedsOrUnitsInRealEstatePropertyReclassifiedFromHeldForSaleToHeldForUse">Number of Beds or Units in Real Estate Property Reclassified from Held for Sale to Held for Use</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfBedsOrUnitsInRealEstatePropertyReclassifiedFromHeldForSaleToHeldForUse" xlink:to="label_NumberOfBedsOrUnitsInRealEstatePropertyReclassifiedFromHeldForSaleToHeldForUse" xlink:title="label: NumberOfBedsOrUnitsInRealEstatePropertyReclassifiedFromHeldForSaleToHeldForUse to label_NumberOfBedsOrUnitsInRealEstatePropertyReclassifiedFromHeldForSaleToHeldForUse" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfBedsOrUnitsInRealEstatePropertyReclassifiedFromHeldForSaleToHeldForUse_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfBedsOrUnitsInRealEstatePropertyReclassifiedFromHeldForSaleToHeldForUse" xml:lang="en-US" id="label_NumberOfBedsOrUnitsInRealEstatePropertyReclassifiedFromHeldForSaleToHeldForUse_2">Number of beds or units in property reclassified from held-for-sale to held-for-use</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfBedsOrUnitsInRealEstatePropertyReclassifiedFromHeldForSaleToHeldForUse" xlink:to="label_NumberOfBedsOrUnitsInRealEstatePropertyReclassifiedFromHeldForSaleToHeldForUse_2" xlink:title="label: NumberOfBedsOrUnitsInRealEstatePropertyReclassifiedFromHeldForSaleToHeldForUse to label_NumberOfBedsOrUnitsInRealEstatePropertyReclassifiedFromHeldForSaleToHeldForUse" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfBedsOrUnitsInRealEstatePropertyReclassifiedFromHeldForSaleToHeldForUse_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfBedsOrUnitsInRealEstatePropertyReclassifiedFromHeldForSaleToHeldForUse" xml:lang="en-US" id="label_NumberOfBedsOrUnitsInRealEstatePropertyReclassifiedFromHeldForSaleToHeldForUse_3">The number of beds or units in a real estate property reclassified from held-for-sale to held-for-use.</link:label>
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    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_NumberOfPropertiesUnderTripleNetLease" xlink:label="NumberOfPropertiesUnderTripleNetLease" xlink:title="NumberOfPropertiesUnderTripleNetLease" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfPropertiesUnderTripleNetLease" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfPropertiesUnderTripleNetLease" xml:lang="en-US" id="label_NumberOfPropertiesUnderTripleNetLease">Number of Properties under Triple Net Lease</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPropertiesUnderTripleNetLease" xlink:to="label_NumberOfPropertiesUnderTripleNetLease" xlink:title="label: NumberOfPropertiesUnderTripleNetLease to label_NumberOfPropertiesUnderTripleNetLease" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfPropertiesUnderTripleNetLease_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfPropertiesUnderTripleNetLease" xml:lang="en-US" id="label_NumberOfPropertiesUnderTripleNetLease_2">Number of properties under each triple net lease</link:label>
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    <link:label xlink:type="resource" xlink:label="label_NumberOfPropertiesUnderTripleNetLease_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfPropertiesUnderTripleNetLease" xml:lang="en-US" id="label_NumberOfPropertiesUnderTripleNetLease_3">Represents the number of properties under each triple net lease.</link:label>
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    <link:loc xlink:type="locator" xlink:href="ltc-20130331.xsd#ltc_AssistedLivingAndMemoryCarePropertiesWith158UnitsMember" xlink:label="AssistedLivingAndMemoryCarePropertiesWith158UnitsMember" xlink:title="AssistedLivingAndMemoryCarePropertiesWith158UnitsMember" />
    <link:label xlink:type="resource" xlink:label="label_AssistedLivingAndMemoryCarePropertiesWith158UnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssistedLivingAndMemoryCarePropertiesWith158UnitsMember" xml:lang="en-US" id="label_AssistedLivingAndMemoryCarePropertiesWith158UnitsMember">Assisted Living and Memory Care Properties with 158 Units [Member]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_AssistedLivingAndMemoryCarePropertiesWith158UnitsMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssistedLivingAndMemoryCarePropertiesWith158UnitsMember" xml:lang="en-US" id="label_AssistedLivingAndMemoryCarePropertiesWith158UnitsMember_3">158-units combination assisted living and memory care properties</link:label>
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<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>11
<FILENAME>ltc-20130331_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EDYAG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Fair Value Measurements (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="1">3 Months Ended</th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2013</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems', window );"><strong>Value Measurements</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstateCommercialAndConsumerNet', window );">Mortgage loans receivable</a></td>
        <td class="nump">$ 39,741,000<span></span></td>
        <td class="nump">$ 39,299,000<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_SecuredDebtBondsPayable', window );">Bonds payable</a></td>
        <td class="nump">2,035,000<span></span></td>
        <td class="nump">2,635,000<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAmountOutstanding', window );">Bank borrowings</a></td>
        <td class="nump">117,500,000<span></span></td>
        <td class="nump">115,500,000<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnsecuredDebt', window );">Senior unsecured notes</a></td>
        <td class="nump">185,800,000<span></span></td>
        <td class="nump">185,800,000<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_EarnOutLiabilities', window );">Contingent liabilities</a></td>
        <td class="nump">6,854,000<span></span></td>
        <td class="nump">6,744,000<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate', window );">Discount rate used to value future cash inflows of the mortgage loans receivable (as a percent)</a></td>
        <td class="nump">6.00%<span></span></td>
        <td class="nump">6.00%<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueInputsDiscountRate', window );">Discount rate used to value earn out liabilities (as a percent)</a></td>
        <td class="nump">6.50%<span></span></td>
        <td class="nump">6.60%<span></span></td>
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          <div class="a">Senior unsecured notes maturing prior to 2019</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems', window );"><strong>Value Measurements</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate', window );">Discount rate used to value future cash outflow (as a percent)</a></td>
        <td class="nump">3.80%<span></span></td>
        <td class="nump">3.80%<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Senior unsecured notes maturing 2021</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems', window );"><strong>Value Measurements</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate', window );">Discount rate used to value future cash outflow (as a percent)</a></td>
        <td class="nump">4.30%<span></span></td>
        <td class="nump">4.30%<span></span></td>
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      <tr class="rh">
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          <div class="a">Carrying Value</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems', window );"><strong>Value Measurements</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstateCommercialAndConsumerNet', window );">Mortgage loans receivable</a></td>
        <td class="nump">39,741,000<span></span></td>
        <td class="nump">39,299,000<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_SecuredDebtBondsPayable', window );">Bonds payable</a></td>
        <td class="nump">2,035,000<span></span></td>
        <td class="nump">2,635,000<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAmountOutstanding', window );">Bank borrowings</a></td>
        <td class="nump">117,500,000<span></span></td>
        <td class="nump">115,500,000<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnsecuredDebt', window );">Senior unsecured notes</a></td>
        <td class="nump">185,800,000<span></span></td>
        <td class="nump">185,800,000<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_EarnOutLiabilities', window );">Contingent liabilities</a></td>
        <td class="nump">6,854,000<span></span></td>
        <td class="nump">6,744,000<span></span></td>
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      <tr class="rh">
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          <div class="a">Fair Value</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems', window );"><strong>Value Measurements</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_SecuredDebtBondsPayable', window );">Bonds payable</a></td>
        <td class="nump">2,035,000<span></span></td>
        <td class="nump">2,635,000<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAmountOutstanding', window );">Bank borrowings</a></td>
        <td class="nump">117,500,000<span></span></td>
        <td class="nump">115,500,000<span></span></td>
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          <div class="a">Fair Value | Level 3</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems', window );"><strong>Value Measurements</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstateCommercialAndConsumerNet', window );">Mortgage loans receivable</a></td>
        <td class="nump">45,060,000<span></span></td>
        <td class="nump">44,939,000<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnsecuredDebt', window );">Senior unsecured notes</a></td>
        <td class="nump">194,475,000<span></span></td>
        <td class="nump">194,838,000<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_EarnOutLiabilities', window );">Contingent liabilities</a></td>
        <td class="nump">$ 6,854,000<span></span></td>
        <td class="nump">$ 6,744,000<span></span></td>
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    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate">
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the discount rate used to value future cash outflows of debt.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_DebtInstrumentFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents the liabilities for earn out payments.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_EarnOutLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the percentage of discount rate used to value future cash inflows of the mortgage loans receivable.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_MortgageLoansReceivableFairValueDisclosureAssumptionsUsedToEstimateFairValueDiscountRate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
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            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_SecuredDebtBondsPayable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date, including the current and noncurrent portions, of collateralized bonds payable (with maturities initially due after one year or beyond the operating cycle, if longer) secured by assets of the borrower.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_SecuredDebtBondsPayable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueInputsDiscountRate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Interest rate used to find the present value of an amount to be paid or received in the future as an input to measure fair value.  For example, but not limited to, weighted average cost of capital (WACC), cost of capital, cost of equity and cost of debt.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (bbb)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7578670&amp;loc=d3e19207-110258<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_FairValueInputsDiscountRate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAmountOutstanding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount borrowed under the credit facility as of the balance sheet date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19, 22<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LineOfCreditFacilityAmountOutstanding</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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          </td>
        </tr>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The balance represents the amount of loans that are secured by real estate mortgages, offset by the reserve to cover probable credit losses on the loan portfolio.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 60<br><br> -Paragraph 47<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.1(c))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 1<br><br> -Subparagraph c<br><br> -Article 7<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_MortgageLoansOnRealEstateCommercialAndConsumerNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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                </table>
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          </td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnsecuredDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Including the current and noncurrent portions, carrying value as of the balance sheet date of uncollateralized debt obligations (with maturities initially due after one year or beyond the operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Article 5<br><br> -Subsection 19, 20, 22<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.16)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-03.16)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 16<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_UnsecuredDebt</nobr></td>
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                    <td>credit</td>
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                    <td>instant</td>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0E5JEK">
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</div>
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          <div>partnership</div>
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</div>
          <div>Dividend distributions</div>
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</div>
          <div>Dividend distributions</div>
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</div>
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          <div>Mar. 31, 2013

</div>
          <div>Shelf Registration</div>
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        <th class="th">
          <div>Mar. 31, 2013

</div>
          <div>Total Cumulative Preferred Stock</div>
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        <th class="th">
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</div>
          <div>Total Cumulative Preferred Stock</div>
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</div>
          <div>Series C Cumulative Convertible Preferred Stock</div>
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          <div>Mar. 31, 2012

</div>
          <div>Series C Cumulative Convertible Preferred Stock</div>
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</div>
          <div>Common Stock</div>
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          <div>Mar. 31, 2012

</div>
          <div>Common Stock</div>
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          <div>Mar. 31, 2013

</div>
          <div>Common Stock

</div>
          <div>Equity Distribution Agreement</div>
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          <div>Dec. 31, 2012

</div>
          <div>Conversion of noncontrolling interest

</div>
          <div>item</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">2,000,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_ConvertiblePreferredStockSharesConversionPricePerShare', window );">Conversion price per share</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 19.25<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockCapitalSharesReservedForFutureIssuance', window );">Total shares reserved for issuance of common stock related to the conversion of preferred stock</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">2,000,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchasedAndRetiredDuringPeriodShares', window );">Number of shares repurchased</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">600<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_CommonStockSharesAuthorizedValue', window );">Maximum aggregate offering price of shares authorized for issuance</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 85,686,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Shares common stock sold</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">126,742<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfCommonStock', window );">Net proceeds</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">4,895,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital', window );">Reclassification of accumulated costs to additional paid in capital</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">602,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue', window );">Amount available under equity distribution agreement</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">59,578,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_ShelfRegistrationStatementMaximumCapacity', window );">Maximum offering capacity under shelf registration statement</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">400,000,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_ShelfRegistrationStatementAmountAvailable', window );">Amount available under effective shelf registration statement</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">167,614,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncontrollingInterestItemsAbstract', window );"><strong>Non-controlling Interests</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_NumberOfLimitedPartners', window );">Number of limited partners</a></td>
        <td class="nump">0<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_NumberOfLimitedPartnerships', window );">Number of limited partnerships</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_LimitedPartnershipUnitsConversionBasis', window );">Limited partnership, conversion basis</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">one-for-one basis<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_NumberOfLimitedPartnersExercisingConversionRights', window );">Number of limited partners exercising conversion rights</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">2<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest', window );">Number of partnership units converted by limited partners</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">112,588<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner', window );">Number of partnership units converted</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">23,294<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_ConvertiblePartnershipUnitsConversionPricePerUnit', window );">Partnership unit conversion price (per unit)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 17.00<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_LimitedPartnersCapitalUnitsRedeemed', window );">Redemption notification of limited partnership units</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">89,294<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest', window );">Cash paid, redemption of non-controlling interest</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">2,764,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">2,764,000<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest', window );">Margin added to the common stock price per share on redemption date to determine amount to be paid to limited partner</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 0.05<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue', window );">Excess of redemption value over the book value</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,246,000<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValueReclassifiedToStockholdersEquity', window );">Excess of redemption value over the book value reclassified to stockholder's equity</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,246,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterestAbstract', window );"><strong>Change from net income attributable to and transfers from non-controlling interest</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income attributable to LTC Properties, Inc</a></td>
        <td class="nump">12,976,000<span></span></td>
        <td class="nump">12,921,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest', window );">Transfers from the non-controlling interest: Decrease in paid-in capital for limited partners conversion</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(1,246,000)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest', window );">Change from net income attributable to LTC Properties, Inc. and transfers from non-controlling interest</a></td>
        <td class="nump">12,976,000<span></span></td>
        <td class="nump">11,675,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DividendsAbstract', window );"><strong>Dividend Distributions</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_DividendsDeclared', window );">Declared</a></td>
        <td class="nump">15,035,000<span></span></td>
        <td class="nump">14,044,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">818,000<span></span></td>
        <td class="nump">818,000<span></span></td>
        <td class="nump">818,000<span></span></td>
        <td class="nump">818,000<span></span></td>
        <td class="nump">14,217,000<span></span></td>
        <td class="nump">13,226,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfDividends', window );">Paid</a></td>
        <td class="nump">15,035,000<span></span></td>
        <td class="nump">14,044,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">818,000<span></span></td>
        <td class="nump">818,000<span></span></td>
        <td class="nump">818,000<span></span></td>
        <td class="nump">818,000<span></span></td>
        <td class="nump">14,217,000<span></span></td>
        <td class="nump">13,226,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockDividendsPerShareDeclared', window );">Dividend declared per share per month</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 0.155<span></span></td>
        <td class="nump">$ 0.155<span></span></td>
        <td class="nump">$ 0.155<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 0.155<span></span></td>
        <td class="nump">$ 0.145<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityAbstract', window );"><strong>Other Equity</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive income</a></td>
        <td class="nump">$ 143,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 152,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_CommonStockSharesAuthorizedValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum aggregate offering price of shares authorized to be issued authorized under an equity distribution agreement.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_CommonStockSharesAuthorizedValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the aggregate offering price of shares available for issuance under equity distribution agreement.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_CommonStockSharesAvailableForIssuanceUnderEquityDistributionAgreementValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_ConvertiblePartnershipUnitsConversionPricePerUnit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the partnership unit conversion price per unit.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_ConvertiblePartnershipUnitsConversionPricePerUnit</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_ConvertiblePreferredStockSharesConversionPricePerShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the conversion price per share of common stock issuable on conversion of convertible preferred stock.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_ConvertiblePreferredStockSharesConversionPricePerShare</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_ConvertiblePreferredStockSharesIssuableUponConversion">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of shares of common stock issuable on conversion of convertible preferred stock.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_ConvertiblePreferredStockSharesIssuableUponConversion</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the decrease in additional paid in capital as a result of the conversion of noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_DecreaseInAdditionalPaidInCapitalConversionOfNoncontrollingInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_DividendsDeclared">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate amount of dividends declared, that may or may not have been paid, as of the financial reporting date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_DividendsDeclared</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_LimitedPartnersCapitalUnitsRedeemed">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of limited partner capital units redeemed during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_LimitedPartnersCapitalUnitsRedeemed</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_LimitedPartnershipUnitsConversionBasis">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Describes the conversion features of the limited partnership units which are convertible. That is, units of limited partnership into which another convertible security was converted.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_LimitedPartnershipUnitsConversionBasis</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the margin added to common stock price per share on the redemption date to determine the amount to be paid upon the redemption of redeemable noncontrolling interests.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_MarginAddedToRedemptionDateCommonStockPriceToDeterminePaymentsForRepurchaseOfRedeemableNoncontrollingInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the net income (loss) attributable to the parent entity after adjustment to conversion of noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterestAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_NetIncomeLossAfterAdjustmentToConversionOfNoncontrollingInterestAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_NumberOfLimitedPartners">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the number of limited partners.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_NumberOfLimitedPartners</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_NumberOfLimitedPartnersExercisingConversionRights">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the number of limited partners who have exercised their conversion rights.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_NumberOfLimitedPartnersExercisingConversionRights</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_NumberOfLimitedPartnerships">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the number of limited partnerships of the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_NumberOfLimitedPartnerships</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the number of partnership units converted to common stock by remaining limited partner.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_NumberOfPartnershipUnitsConvertedByRemainingLimitedPartner</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the amount of reclassification of accumulated costs associated with the equity distribution agreement to additional paid in capital.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_ReclassificationOfAccumulatedCostsToAdditionalPaidInCapital</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the excess of the redemption value over the book value of the noncontrolling interest redeemed.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValueReclassifiedToStockholdersEquity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the excess of the redemption value over the book value of the noncontrolling interest redeemed reclassified to stockholder's equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_RedemptionOfNoncontrollingInterestExcessOfRedemptionValueOverBookValueReclassifiedToStockholdersEquity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_ShelfRegistrationStatementAmountAvailable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the amount available under the shelf registration statement in which the entity may issue common stock, preferred stock, warrants, debt, depositary shares or units.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_ShelfRegistrationStatementAmountAvailable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_ShelfRegistrationStatementMaximumCapacity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum offering capacity under the shelf registration statement in which the entity may issue common stock, preferred stock, warrants, debt, depositary shares, or units.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_ShelfRegistrationStatementMaximumCapacity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of shares issued during the period as a result of the conversion of non-controlling interests by limited partners exercising their conversion rights.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_StockIssuedDuringPeriodToLimitedPartnersSharesConversionOfNoncontrollingInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 130<br><br> -Paragraph 14, 17, 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=20435746&amp;loc=d3e637-108580<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14A<br><br> -URI http://asc.fasb.org/extlink&amp;oid=20435746&amp;loc=SL7669686-108580<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -URI http://asc.fasb.org/extlink&amp;oid=20435746&amp;loc=d3e681-108580<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 31<br><br> -Article 5<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name FASB Staff Position (FSP)<br><br> -Number FAS115-1/124-1<br><br> -Paragraph 15D<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ClassOfStockLineItems">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ClassOfStockLineItems</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockCapitalSharesReservedForFutureIssuance">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate number of common shares reserved for future issuance.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockCapitalSharesReservedForFutureIssuance</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockDividendsPerShareDeclared">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate dividends declared during the period for each share of common stock outstanding.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockDividendsPerShareDeclared</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DividendsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DividendsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EquityAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 19<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 130<br><br> -Paragraph 10, 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 20<br><br> -Article 9<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 87-21<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28, 29, 30<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=20435746&amp;loc=d3e565-108580<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A7<br><br> -Appendix A<br><br><br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 16: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                <p>Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 20<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3291-108585<br><br><br><br></p>
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                <p>Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
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                    <td><strong> Name:</strong></td>
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                <p>The cash inflow from the additional capital contribution to the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 19<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3255-108585<br><br><br><br></p>
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                <p>Number of new stock issued during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br></p>
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                <p>Number of shares that have been repurchased and retired during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br></p>
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  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EYKAE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>General (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="4">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2013

</div>
          <div>segment</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2012

</div>
          <div>140-bed skilled nursing property

</div>
          <div>Texas

</div>
          <div>bed</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2013

</div>
          <div>Independent living property

</div>
          <div>Texas

</div>
          <div>unit</div>
        </th>
        <th class="th">
          <div>Sep. 30, 2012

</div>
          <div>Independent living property

</div>
          <div>Texas</div>
        </th>
      </tr>
      <tr class="re">
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfOperatingSegments', window );">Number of operating segments</a></td>
        <td class="nump">1<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_ProvisionForFederalOrStateIncomeTaxes', window );">Provision for federal or state income taxes</a></td>
        <td class="nump">$ 0<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsLineItems', window );"><strong>Sale of property</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesOfRealEstate', window );">Sale of property</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,248,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_NumberOfBedsOrUnitsInRealEstatePropertySold', window );">Number of beds or units in property sold</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">140<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_NumberOfBedsOrUnitsInRealEstatePropertyReclassifiedFromHeldForSaleToHeldForUse', window );">Number of beds or units in property reclassified from held-for-sale to held-for-use</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">140<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_IncreaseDecreaseInDepreciation', window );">Increase of depreciation expense due to reclassification of property</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 285,000<span></span></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the amount of changes in depreciation expense.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
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        <tr>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The number of beds or units in a real estate property reclassified from held-for-sale to held-for-use.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The number of beds or units in a real estate property sold by the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the amount of provision established for federal or state income taxes as of the balance sheet date. As a REIT under Sections 856 through 860 of the Internal Revenue Code of 1982, as amended, the company is generally not taxed on income that is distributed to the stockholders.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                    <td><strong> Data Type:</strong></td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of operating segments. An operating segment is a component of an enterprise: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise), (b) whose operating results are regularly reviewed by the enterprise's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and (c) for which discrete financial information is available. An operating segment may engage in business activities for which it has yet to earn revenues, for example, start-up operations may be operating segments before earning revenues.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                    <td>na</td>
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                    <td>duration</td>
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                <table border="0" cellpadding="0" cellspacing="0">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Revenue from the sale of commercial, industrial, or residential property during the period. This element is more likely than not relevant to an entity for which real estate operations are a principal activity. If real estate operations are not a principal activity, the reporting entity would likely use a gain (loss) on sale of property, plant, or equipment type element.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1(e))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 66<br><br> -Paragraph 44, 45<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EVYAG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
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        </th>
        <th class="th" colspan="2">3 Months Ended</th>
        <th class="th" colspan="1"></th>
        <th class="th" colspan="1">1 Months Ended</th>
        <th class="th" colspan="1">3 Months Ended</th>
        <th class="th" colspan="1"></th>
        <th class="th" colspan="1">1 Months Ended</th>
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      <tr>
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          <div>Mar. 31, 2013</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2005

</div>
          <div>SHG</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2012

</div>
          <div>SHG</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2007

</div>
          <div>SHG</div>
        </th>
        <th class="th">
          <div>Feb. 28, 2006

</div>
          <div>Laurel</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2013

</div>
          <div>Laurel</div>
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        <th class="th">
          <div>Mar. 31, 2012

</div>
          <div>Laurel</div>
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        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Laurel</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_InvestmentsWithRelatedPartiesInterestFaceRate', window );">Face rate of senior subordinated notes (as a percent)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">11.00%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_InvestmentsWithRelatedPartiesInterestEffectiveRate', window );">Effective yield on senior subordinated notes (as a percent)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">11.10%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_InvestmentsWithRelatedParties', window );">Remaining investment in senior subordinated notes of related party</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">6,500,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty', window );">Interest income related to senior subordinated notes</a></td>
        <td class="nump">0<span></span></td>
        <td class="nump">180,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">180,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_LeaseAgreementPeriod', window );">Period of master lease agreement</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">15 years<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty', window );">Rental income</a></td>
        <td class="nump">1,113,000<span></span></td>
        <td class="nump">1,086,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,113,000<span></span></td>
        <td class="nump">1,086,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty', window );">Straight-line rental income</a></td>
        <td class="nump">12,000<span></span></td>
        <td class="nump">39,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">12,000<span></span></td>
        <td class="nump">39,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedParties', window );">Straight-line rental income receivable from subsidiaries</a></td>
        <td class="nump">$ 3,203,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 3,191,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 3,203,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 3,191,000<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_InvestmentsWithRelatedParties">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents sum of the carrying amounts as of the balance sheet date of current and noncurrent investments with an entity that qualifies as a related party.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_InvestmentsWithRelatedParties</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_InvestmentsWithRelatedPartiesInterestEffectiveRate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the face rate on an investment with an entity that qualifies as a related party.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_InvestmentsWithRelatedPartiesInterestEffectiveRate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_InvestmentsWithRelatedPartiesInterestFaceRate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the face rate on an investment with an entity that qualifies as a related party.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_InvestmentsWithRelatedPartiesInterestFaceRate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_InvestmentsWithRelatedPartiesInvestmentPurchased">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the investment purchased with an entity that qualifies as a related party.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_InvestmentsWithRelatedPartiesInvestmentPurchased</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_LeaseAgreementPeriod">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the period for which lease agreement has been made.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_LeaseAgreementPeriod</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:durationItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents interest income from an entity that qualifies as a related party.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents rental income from an entity that qualifies as a related party.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents straight line rental income from an entity that qualifies as a related party.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueFromRelatedParties">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>For an unclassified balance sheet, amounts due from related parties including affiliates, employees, joint ventures, officers and stockholders, immediate families thereof, and pension funds.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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<p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">LTC Properties,&#160;Inc., a health care real estate investment trust (or REIT), was incorporated on May&#160;12,&#160;1992 in the State of Maryland and commenced operations on August&#160;25, 1992.&#160; We invest primarily in senior housing and long term care properties through acquisitions, development, mortgage loans and other investments. We conduct and manage our business as one operating segment, rather than multiple operating segments, for internal reporting and internal decision making purposes.&#160;&#160; Our primary objectives are to create, sustain and enhance stockholder equity value and provide current income for distribution to stockholders through real estate investments in senior housing and long term care properties managed by experienced operators.&#160; Our primary senior housing and long term care property types include skilled nursing properties (or SNF), assisted living properties (or ALF), independent living properties (or ILF), memory care properties (or MC) and combinations thereof. To meet these objectives, we attempt to invest in properties that provide opportunity for additional value and current returns to our stockholders and diversify our investment portfolio by geographic location, operator, property type and form of investment.</font></p>
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<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">We have prepared consolidated financial statements included herein without audit and in the opinion of management have included all adjustments necessary for a fair presentation of the results of operations for the three months ended March&#160;31, 2013 and 2012 pursuant to the rules&#160;and regulations of the Securities and Exchange Commission (or SEC).&#160; Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (or GAAP) have been condensed or omitted pursuant to rules&#160;and regulations governing the presentation of interim financial statements.&#160; The accompanying consolidated financial statements include the accounts of our company, its wholly-owned subsidiaries.&#160; All significant intercompany accounts and transactions have been eliminated in consolidation.&#160; The results of operations for the three months ended March&#160;31, 2013 and 2012 are not necessarily indicative of the results for a full year.</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">Certain reclassifications have been made to the prior period consolidated financial statements to conform to the current period presentation, including changes as a result of the application of accounting guidance for properties disposed or classified as held-for-sale. During the three months ended March&#160;31, 2012, we sold a 140-bed skilled nursing property located in Texas for $1,248,000. See <i>Note 2. Real Estate Investments</i> for further discussion. Additionally, we reclassified a 140-unit independent living property located in Texas from held-for-sale to held-for-use. The expenses, which were not recognized during the held-for-sale period, were recognized at the date of reclassification during the third quarter of 2012. This resulted in an increase of depreciation expense of $285,000.&#160; Due to the market conditions, the timing of the ultimate disposal of this property was uncertain. These adjustments are normal and recurring in nature.</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">No provision has been made for federal or state income taxes.&#160; Our company qualifies as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended.&#160; As such, we generally are not taxed on income that is distributed to our stockholders.</font></p>
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<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EIGAG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Notes Receivable (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="4">3 Months Ended</th>
        <th class="th" colspan="2"></th>
        <th class="th" colspan="1">1 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2013</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2013

</div>
          <div>Loan commitments, maturities ranging from 2013 to 2014

</div>
          <div>loan

</div>
          <div>item</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2012

</div>
          <div>Loan commitments, maturities ranging from 2013 to 2014</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2013

</div>
          <div>Loan commitments, maturities ranging from 2013 to 2014

</div>
          <div>Minimum</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2013

</div>
          <div>Loan commitments, maturities ranging from 2013 to 2014

</div>
          <div>Maximum</div>
        </th>
        <th class="th">
          <div>Apr. 30, 2013

</div>
          <div>Loan commitments, maturities ranging from 2013 to 2014

</div>
          <div>Subsequent Event</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableNetAbstract', window );"><strong>Notes Receivable</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_NotesReceivableNumberOfLoans', window );">Number of Loans</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">2<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_NotesReceivableCarryingAmount', window );">Notes receivable carrying value</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 2,920,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_NotesReceivableWeightedAverageInterestRate', window );">Weighted Average Interest Rate (as a percent)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">8.60%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">9.00%<span></span></td>
        <td class="nump">12.00%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_LoanCommitmentsAmountInvested', window );">Funded capital improvement commitments</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">63,000<span></span></td>
        <td class="nump">1,034,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">60,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit', window );">Number of commitments</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">6<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_LoanCommitments', window );">Loan commitment</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,525,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_LoanCommitmentsTotalAmountInvested', window );">Total funded loan commitments</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">209,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_LoanCommitmentsOpen', window );">Open Commitment</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,316,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,256,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleAndCollectionOfNotesReceivable', window );">Principal payments received</a></td>
        <td class="nump">$ 114,000<span></span></td>
        <td class="nump">$ 191,000<span></span></td>
        <td class="nump">$ 114,000<span></span></td>
        <td class="nump">$ 191,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_LoanCommitments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the amount of loan commitments of the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_LoanCommitments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_LoanCommitmentsAmountInvested">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the amount invested into various loan commitments by the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_LoanCommitmentsAmountInvested</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the number of commitments to provide loans and line of credit with certain operators.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_LoanCommitmentsNumberOfCommitmentsToProvideLoansAndLineOfCredit</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_LoanCommitmentsOpen">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the amount of open loan commitments as of the balance sheet date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_LoanCommitmentsOpen</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
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          </td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the total amount invested into various loan commitments by the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_LoanCommitmentsTotalAmountInvested</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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        <tr>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the carrying amount of notes receivable for various loans and line of credit agreements.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_NotesReceivableCarryingAmount</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_NotesReceivableNumberOfLoans">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represent the number of loans outstanding under the notes receivable.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_NotesReceivableNumberOfLoans</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td>duration</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_NotesReceivableWeightedAverageInterestRate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the weighted average interest rate for notes receivable.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_NotesReceivableWeightedAverageInterestRate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
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            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesReceivableNetAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NotesReceivableNetAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromSaleAndCollectionOfNotesReceivable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow associated with the proceeds from sale of notes receivable, as well as principal collections from a borrowing supported by a written promise to pay an obligation (note receivable).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 15, 16<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 12<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3179-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromSaleAndCollectionOfNotesReceivable</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                    <td>duration</td>
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<DOCUMENT>
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<SEQUENCE>20
<FILENAME>R28.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EZ6CI">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Real Estate Investments (Details 3) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="2">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2013

</div>
          <div>loan

</div>
          <div>property

</div>
          <div>operator

</div>
          <div>state</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Mortgage Loans</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestments', window );">Gross Investments</a></td>
        <td class="nump">$ 40,142,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RealEstateInvestmentsPercentage', window );">Percentage of Investments</a></td>
        <td class="nump">100.00%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstateNumberOfLoans', window );">Number of Loans</a></td>
        <td class="nump">19<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of properties</a></td>
        <td class="nump">26<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RealEstateInvestmentsNumberOfStates', window );">Number of states</a></td>
        <td class="nump">8<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RealEstateInvestmentsNumberOfOperatorsInStates', window );">Number of operators</a></td>
        <td class="nump">11<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstateMinimumInterestRateInRange', window );">Interest rate for mortgage loans, low end of range (as a percent)</a></td>
        <td class="nump">7.00%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstateMaximumInterestRateInRange', window );">Interest rate for mortgage loans, high end of range (as a percent)</a></td>
        <td class="nump">13.50%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_MortgageLoansOnRealEstateLoansAbstract', window );"><strong>Mortgage loans</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived', window );">Scheduled principal payments received</a></td>
        <td class="nump">462,000<span></span></td>
        <td class="nump">718,000<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_LoanCommitments', window );">Originated commitment</a></td>
        <td class="nump">10,600,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_LoanCommitmentsAmountInvested', window );">Funded loan commitments</a></td>
        <td class="nump">910,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_LoanCommitmentsOpen', window );">Remaining loan commitments</a></td>
        <td class="nump">7,070,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Mortgage Loans | Minimum</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_MortgageLoansOnRealEstateAmortizationPeriod', window );">General amortization schedule of mortgage loans</a></td>
        <td class="text">20 years<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints', window );">Specified basis points for annual increase in interest rate (as a percent)</a></td>
        <td class="nump">0.10%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Mortgage Loans | Maximum</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_MortgageLoansOnRealEstateAmortizationPeriod', window );">General amortization schedule of mortgage loans</a></td>
        <td class="text">25 years<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints', window );">Specified basis points for annual increase in interest rate (as a percent)</a></td>
        <td class="nump">0.25%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">SNF Beds | Mortgage Loans</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_PropertiesNumberOfUnitsOrBeds', window );">Number of Beds/Units</a></td>
        <td class="nump">1,960<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">ALF Units</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_PropertiesNumberOfUnitsOrBeds', window );">Number of Beds/Units</a></td>
        <td class="nump">2<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">ALF Units | Mortgage Loans</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_PropertiesNumberOfUnitsOrBeds', window );">Number of Beds/Units</a></td>
        <td class="nump">285<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Skilled Nursing | Mortgage Loans</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestments', window );">Gross Investments</a></td>
        <td class="nump">25,097,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RealEstateInvestmentsPercentage', window );">Percentage of Investments</a></td>
        <td class="nump">62.50%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstateNumberOfLoans', window );">Number of Loans</a></td>
        <td class="nump">15<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of properties</a></td>
        <td class="nump">17<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RealEstateInvestmentsPerUnit', window );">Investment per Bed/Unit</a></td>
        <td class="nump">13.49<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Skilled Nursing | SNF Beds | Mortgage Loans</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_PropertiesNumberOfUnitsOrBeds', window );">Number of Beds/Units</a></td>
        <td class="nump">1,861<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">106-bed skilled nursing property</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_PropertiesNumberOfUnitsOrBeds', window );">Number of Beds/Units</a></td>
        <td class="nump">106<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice', window );">Purchase price of replacement facility</a></td>
        <td class="nump">13,500,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_TermOfRightToPurchaseReplacementFacility', window );">Term of right to purchase replacement facility</a></td>
        <td class="text">18 months<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Assisted Living | Mortgage Loans</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestments', window );">Gross Investments</a></td>
        <td class="nump">12,245,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RealEstateInvestmentsPercentage', window );">Percentage of Investments</a></td>
        <td class="nump">30.50%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstateNumberOfLoans', window );">Number of Loans</a></td>
        <td class="nump">3<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of properties</a></td>
        <td class="nump">8<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RealEstateInvestmentsPerUnit', window );">Investment per Bed/Unit</a></td>
        <td class="nump">58.03<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Assisted Living | ALF Units | Mortgage Loans</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_PropertiesNumberOfUnitsOrBeds', window );">Number of Beds/Units</a></td>
        <td class="nump">211<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Range of Care | Mortgage Loans</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestments', window );">Gross Investments</a></td>
        <td class="nump">$ 2,800,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RealEstateInvestmentsPercentage', window );">Percentage of Investments</a></td>
        <td class="nump">7.00%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstateNumberOfLoans', window );">Number of Loans</a></td>
        <td class="nump">1<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of properties</a></td>
        <td class="nump">1<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RealEstateInvestmentsPerUnit', window );">Investment per Bed/Unit</a></td>
        <td class="nump">16.18<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Range of Care | SNF Beds | Mortgage Loans</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_PropertiesNumberOfUnitsOrBeds', window );">Number of Beds/Units</a></td>
        <td class="nump">99<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Range of Care | ALF Units | Mortgage Loans</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_PropertiesNumberOfUnitsOrBeds', window );">Number of Beds/Units</a></td>
        <td class="nump">74<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentLineItems">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>invest_InvestmentLineItems</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>invest_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_LoanCommitments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the amount of loan commitments of the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_LoanCommitments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_LoanCommitmentsAmountInvested">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the amount invested into various loan commitments by the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_LoanCommitmentsAmountInvested</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_LoanCommitmentsOpen">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the amount of open loan commitments as of the balance sheet date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_LoanCommitmentsOpen</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the price at which the replacement facility can be purchased as per the option given under the loan agreement.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_LoanCommitmentsRightToPurchaseReplacementFacilityPurchasePrice</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_MortgageLoansOnRealEstateAmortizationPeriod">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the amortization period of mortgage loan on real estate properties.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_MortgageLoansOnRealEstateAmortizationPeriod</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:durationItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the basis points specified for an increase in annual interest rate.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_MortgageLoansOnRealEstateInterestRateAnnualIncreaseSpecifiedBasisPoints</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_MortgageLoansOnRealEstateLoansAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_MortgageLoansOnRealEstateLoansAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the amount of scheduled principal payments on mortgage loans on real estate during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_MortgageLoansOnRealEstateScheduledPrincipalPaymentReceived</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_PropertiesNumberOfUnitsOrBeds">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the number of units or beds of properties under mortgage loans or owned by the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_PropertiesNumberOfUnitsOrBeds</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_RealEstateInvestmentsNumberOfOperatorsInStates">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the number of operators associated with certain investments.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_RealEstateInvestmentsNumberOfOperatorsInStates</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_RealEstateInvestmentsNumberOfStates">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the number of states in which the entity has invested.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_RealEstateInvestmentsNumberOfStates</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_RealEstateInvestmentsPercentage">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the Investments in real estate held solely for investment purposes expressed as percentage.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_RealEstateInvestmentsPercentage</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_RealEstateInvestmentsPerUnit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the per unit investment in real estate held solely for investment purposes.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_RealEstateInvestmentsPerUnit</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>us-types:perUnitItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_TermOfRightToPurchaseReplacementFacility">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the term of right to purchase the replacement facility under the loan agreement.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_TermOfRightToPurchaseReplacementFacility</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:durationItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MortgageLoansOnRealEstateMaximumInterestRateInRange">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The highest stated interest rate within the mortgage loans included in the loan grouping.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph c<br><br> -Subparagraph Schedule IV<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 6<br><br> -Subparagraph (SX 210.5-04.(c) Schedule IV)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6882300&amp;loc=d3e5864-122674<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 948<br><br> -SubTopic 310<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.12-29.3)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6589523&amp;loc=d3e617274-123014<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 29<br><br> -Article 12<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_MortgageLoansOnRealEstateMaximumInterestRateInRange</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MortgageLoansOnRealEstateMinimumInterestRateInRange">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The lowest stated interest rate within the mortgage loans included in the loan grouping.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph c<br><br> -Subparagraph Schedule IV<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 6<br><br> -Subparagraph (SX 210.5-04.(c) Schedule IV)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6882300&amp;loc=d3e5864-122674<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 948<br><br> -SubTopic 310<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.12-29.3)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6589523&amp;loc=d3e617274-123014<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 29<br><br> -Article 12<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_MortgageLoansOnRealEstateMinimumInterestRateInRange</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MortgageLoansOnRealEstateNumberOfLoans">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicates the number of mortgages under each classification.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 29<br><br> -Paragraph 3<br><br> -Article 12<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 6<br><br> -Subparagraph (SX 210.5-04.(c) Schedule IV)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6882300&amp;loc=d3e5864-122674<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 948<br><br> -SubTopic 310<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.12-29.3)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6589523&amp;loc=d3e617274-123014<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph c<br><br> -Subparagraph Schedule IV<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_MortgageLoansOnRealEstateNumberOfLoans</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NumberOfRealEstateProperties">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The number of real estate properties owned as of the balance sheet date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NumberOfRealEstateProperties</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateInvestments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of real estate investments, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; (7) other real estate investments; (8) real estate joint ventures; and (9) unconsolidated real estate and other joint ventures not separately presented.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.1(d))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 1<br><br> -Subparagraph d<br><br> -Article 7<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RealEstateInvestments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>21
<FILENAME>R30.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EPDAE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Marketable Securities (Details) (SHG, USD $)<br></strong></div>
        </th>
        <th class="th" colspan="2">3 Months Ended</th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2013

</div>
          <div>person</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">SHG</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Marketable Securities</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_MarketableSecuritiesWithRelatedPartiesInterestFaceRate', window );">Face rate of senior subordinated notes (as a percent)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">11.00%<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate', window );">Effective yield on senior subordinated notes (as a percent)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">11.10%<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterest', window );">Interest income recognized from investment</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 180,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_MarketableSecuritiesWithRelatedParties', window );">Investment in senior subordinated notes of related party</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 6,500,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity', window );">Number of directors serving as chief executive officer of related entity</a></td>
        <td class="nump">1<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_MarketableSecuritiesWithRelatedParties">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents sum of the carrying amounts as of the balance sheet date of current and noncurrent marketable securities with related party.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_MarketableSecuritiesWithRelatedParties</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the effective yield on a marketable security with a related party.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_MarketableSecuritiesWithRelatedPartiesInterestEffectiveRate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_MarketableSecuritiesWithRelatedPartiesInterestFaceRate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the face rate on a marketable security with a related party.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_MarketableSecuritiesWithRelatedPartiesInterestFaceRate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the number of directors serving as chief executive officer of an entity that qualifies as a related party.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_RelatedPartyTransactionNumberOfDirectorsServingAsChiefExecutiveOfficerOfRelatedEntity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentIncomeInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Income derived from investments in debt securities and on cash and cash equivalents the earnings of which reflect the time value of money or transactions in which the payments are for the use or forbearance of money.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 115<br><br> -Paragraph 14<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 7<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.7(b))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InvestmentIncomeInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionLineItems">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RelatedPartyTransactionLineItems</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>22
<FILENAME>R31.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ETPBG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Debt Obligations (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="2">3 Months Ended</th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2013

</div>
          <div>property</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>property</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Obligations</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAmountOutstanding', window );">Amount outstanding under Unsecured Credit Agreement</a></td>
        <td class="nump">$ 117,500,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 115,500,000<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnsecuredDebt', window );">Amount outstanding Senior Unsecured Notes</a></td>
        <td class="nump">185,800,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">185,800,000<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Bank Borrowings</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Obligations</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity', window );">Possible total maximum availability under Unsecured Credit Agreement</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">350,000,000<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum availability under Unsecured Credit Agreement</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">240,000,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing', window );">Decrease in drawn pricing, basis point (as a percent)</a></td>
        <td class="nump">0.25%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing', window );">Decrease in undrawn pricing, basis point (as a percent)</a></td>
        <td class="nump">0.10%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod', window );">Additional extension period option</a></td>
        <td class="text">1 year<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_DebtInstrumentMaturityDateLengthOfExtensionPeriod', window );">Extension of maturity date</a></td>
        <td class="text">1 year<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis', window );">Description of interest rate</a></td>
        <td class="text">LIBOR<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate', window );">Basis spread over base rate (as a percent)</a></td>
        <td class="nump">1.50%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage', window );">Unused commitment fee (as a percent)</a></td>
        <td class="nump">0.30%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityIncreaseAdditionalBorrowings', window );">Amount borrowed</a></td>
        <td class="nump">2,000,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAmountOutstanding', window );">Amount outstanding under Unsecured Credit Agreement</a></td>
        <td class="nump">117,500,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity', window );">Amount available for borrowing under Unsecured Credit Agreement</a></td>
        <td class="nump">122,500,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Senior unsecured notes</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Obligations</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnsecuredDebt', window );">Amount outstanding Senior Unsecured Notes</a></td>
        <td class="nump">185,800,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">185,800,000<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateDuringPeriod', window );">Weighted average interest rate (as a percent)</a></td>
        <td class="nump">5.20%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">5.20%<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Uncommitted Private Shelf Agreement</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Obligations</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement', window );">Maximum available for issuance under private shelf agreement</a></td>
        <td class="nump">100,000,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">100,000,000<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Bonds payable</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Obligations</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateDuringPeriod', window );">Weighted average interest rate (as a percent)</a></td>
        <td class="nump">2.90%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SecuredDebt', window );">Amount outstanding</a></td>
        <td class="nump">2,035,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">2,635,000<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_DebtInstrumentNumberOfCollateralProperties', window );">Number of assisted living properties securing debt instruments</a></td>
        <td class="nump">5<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">5<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Repayments of debt</a></td>
        <td class="nump">600,000<span></span></td>
        <td class="nump">565,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PledgedAssetsNotSeparatelyReportedRealEstate', window );">Aggregate carrying value of real estate property securing the entity's debt obligation</a></td>
        <td class="nump">$ 6,584,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 6,650,000<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the decrease in drawn pricing percentage points added to the reference rate to compute the variable rate on the debt instrument.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_DebtInstrumentBasisSpreadOnVariableRateDecreaseInDrawnPricing</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the decrease in undrawn pricing percentage points added to the reference rate to compute the variable rate on the debt instrument.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_DebtInstrumentBasisSpreadOnVariableRateDecreaseInUndrawnPricing</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Length of the additional optional extension period for the date when the debt instrument is scheduled to be fully repaid, which may be presented in a variety of ways (years, months, etc.).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_DebtInstrumentMaturityDateLengthOfAdditionalOptionalExtensionPeriod</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:durationItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_DebtInstrumentMaturityDateLengthOfExtensionPeriod">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Length of the extension period for the date when the debt instrument is scheduled to be fully repaid, which may be presented in a variety of ways (years, months, etc.).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_DebtInstrumentMaturityDateLengthOfExtensionPeriod</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:durationItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the maximum amount authorized for issuance under the uncommitted private shelf agreement.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_DebtInstrumentMaximumAuthorizedForIssuanceUnderPrivateShelfAgreement</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_DebtInstrumentNumberOfCollateralProperties">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the number of properties held as collateral for debt obligations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_DebtInstrumentNumberOfCollateralProperties</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the possible total maximum borrowing capacity under the line of credit facility.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_LineOfCreditFacilityPossibleTotalMaximumBorrowingCapacity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The percentage points added to the reference rate to compute the variable rate on the debt instrument.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DebtInstrumentBasisSpreadOnVariableRate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The reference rate for the variable rate of the debt instrument, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DebtInstrumentDescriptionOfVariableRateBasis</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateDuringPeriod">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The average effective interest rate during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 835<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 22<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.22(a)(1))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DebtInstrumentInterestRateDuringPeriod</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentLineItems">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DebtInstrumentLineItems</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAmountOutstanding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount borrowed under the credit facility as of the balance sheet date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19, 22<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LineOfCreditFacilityAmountOutstanding</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityIncreaseAdditionalBorrowings">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Increase for additional borrowings on the credit facility during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(f))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph f<br><br> -Article 4<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LineOfCreditFacilityIncreaseAdditionalBorrowings</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 2, 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19(b),22(b))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19, 22<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19(b),22(b))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19, 22<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The fee, expressed as a percentage of the line of credit facility, for available but unused credit capacity under the credit facility.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PledgedAssetsNotSeparatelyReportedRealEstate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The carrying amount, as of the date of the latest financial statement presented, of real estate owned but transferred to serve as collateral for the payment of the related debt obligation, primarily a secured borrowing or repurchase agreement, and for which the transferee is not permitted to sell or re-pledge them to an unrelated party.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 860<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -Subparagraph (b)(1)(i)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7523297&amp;loc=SL6224234-111729<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name FASB Staff Position (FSP)<br><br> -Number FAS140-4/FIN46(R)-8<br><br> -Paragraph B6<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 140<br><br> -Paragraph 17<br><br> -Subparagraph a(2)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PledgedAssetsNotSeparatelyReportedRealEstate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RepaymentsOfDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow during the period from the repayment of aggregate short-term and long-term debt. Excludes payment of capital lease obligations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RepaymentsOfDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SecuredDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date, including the current and noncurrent portions, of collateralized debt obligations (with maturities initially due after one year or beyond the operating cycle, if longer). Such obligations include mortgage loans, chattel loans, and any other borrowings secured by assets of the borrower.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19, 20, 22<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.16)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-03.16)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 16<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SecuredDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnsecuredDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Including the current and noncurrent portions, carrying value as of the balance sheet date of uncollateralized debt obligations (with maturities initially due after one year or beyond the operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Article 5<br><br> -Subsection 19, 20, 22<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.16)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-03.16)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 16<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_UnsecuredDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>23
<FILENAME>R8.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EGH">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="2">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2013</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementOfCashFlowsAbstract', window );"><strong>CONSOLIDATED STATEMENTS OF CASH FLOWS</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty', window );">Straight-line rental income from a lessee that qualifies as a related party</a></td>
        <td class="nump">$ 12<span></span></td>
        <td class="nump">$ 39<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents straight line rental income from an entity that qualifies as a related party.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementOfCashFlowsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StatementOfCashFlowsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>24
<FILENAME>R32.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0E3JAG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Equity (Details) (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="2">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2013</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_ScheduleOfAllocationOfEquityLineItems', window );"><strong>Equity allocation</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="nump">$ 463,108<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income</a></td>
        <td class="nump">12,976<span></span></td>
        <td class="nump">12,932<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueNewIssues', window );">Issue common stock</a></td>
        <td class="nump">4,293<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Vested restricted common stock</a></td>
        <td class="nump">985<span></span></td>
        <td class="nump">452<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Stock option exercises</a></td>
        <td class="nump">523<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax', window );">Reclassification adjustment</a></td>
        <td class="num">(9)<span></span></td>
        <td class="num">(13)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfDividendsMinorityInterest', window );">Non-controlling interest preferred return</a></td>
        <td class="num">(7)<span></span></td>
        <td class="num">(48)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockDividendsAndOtherAdjustments', window );">Preferred stock dividends</a></td>
        <td class="num">(818)<span></span></td>
        <td class="num">(818)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfDividendsCommonStock', window );">Common stock dividends</a></td>
        <td class="num">(14,217)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueOther', window );">Other</a></td>
        <td class="num">(23)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="nump">466,811<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">LTC Properties, Inc. Stockholders' Equity</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_ScheduleOfAllocationOfEquityLineItems', window );"><strong>Equity allocation</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="nump">463,101<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income</a></td>
        <td class="nump">12,976<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueNewIssues', window );">Issue common stock</a></td>
        <td class="nump">4,293<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Vested restricted common stock</a></td>
        <td class="nump">985<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Stock option exercises</a></td>
        <td class="nump">523<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax', window );">Reclassification adjustment</a></td>
        <td class="num">(9)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockDividendsAndOtherAdjustments', window );">Preferred stock dividends</a></td>
        <td class="num">(818)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfDividendsCommonStock', window );">Common stock dividends</a></td>
        <td class="num">(14,217)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueOther', window );">Other</a></td>
        <td class="num">(23)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="nump">466,811<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Non-controlling Interests</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_ScheduleOfAllocationOfEquityLineItems', window );"><strong>Equity allocation</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="nump">7<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfDividendsMinorityInterest', window );">Non-controlling interest preferred return</a></td>
        <td class="num">$ (7)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_ScheduleOfAllocationOfEquityLineItems</nobr></td>
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                  <tr>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Net of tax amount of other comprehensive income (loss) attributable to both parent entity and noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1A<br><br> -URI http://asc.fasb.org/extlink&amp;oid=20435746&amp;loc=SL7669619-108580<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherComprehensiveIncomeLossNetOfTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
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          </td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsOfDividendsCommonStock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Cash outflow in the form of ordinary dividends to common shareholders, generally out of earnings.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 20<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3291-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsOfDividendsCommonStock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsOfDividendsMinorityInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Cash outflow in the form of ordinary dividends to noncontrolling interests, generally out of earnings.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 20<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3291-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsOfDividendsMinorityInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockDividendsAndOtherAdjustments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate value of preferred stock dividends and other adjustments necessary to derive net income apportioned to common stockholders.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1377-109256<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PreferredStockDividendsAndOtherAdjustments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A1, A4, A5<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 29<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 5<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733213&amp;loc=SL4591552-111686<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -Subparagraph (a),(c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(1)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4J<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733213&amp;loc=SL4591551-111686<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProfitLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensation</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4568740-111683<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A3<br><br> -Appendix A<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4I<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733213&amp;loc=SL4590271-111686<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4568447-111683<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 25<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueNewIssues">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodValueNewIssues</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueOther">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Value of shares of stock issued during the period that is attributable to transactions involving issuance of stock not separately disclosed.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodValueOther</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Value of stock issued as a result of the exercise of stock options.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29-31)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>25
<FILENAME>R40.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0E63AE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Subsequent Events (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="3">3 Months Ended</th>
        <th class="th" colspan="5">1 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2013</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2013

</div>
          <div>Loan Commitments Maturities Ranging from 2013 to 2014 [Member]</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2012

</div>
          <div>Loan Commitments Maturities Ranging from 2013 to 2014 [Member]</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2013

</div>
          <div>Dividend declared</div>
        </th>
        <th class="th">
          <div>May 31, 2013

</div>
          <div>Dividend declared</div>
        </th>
        <th class="th">
          <div>Apr. 30, 2013

</div>
          <div>Dividend declared</div>
        </th>
        <th class="th">
          <div>Apr. 30, 2013

</div>
          <div>Subsequent Event</div>
        </th>
        <th class="th">
          <div>Apr. 30, 2013

</div>
          <div>Subsequent Event

</div>
          <div>Loan Commitments Maturities Ranging from 2013 to 2014 [Member]</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventLineItems', window );"><strong>Subsequent Events</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockDividendsPerShareDeclared', window );">Cash dividend per common share</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 0.155<span></span></td>
        <td class="nump">$ 0.155<span></span></td>
        <td class="nump">$ 0.155<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_InvestmentCommitmentsAbstract', window );"><strong>Investment Commitment</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_InvestmentCommitmentsAmountFundedDuringPeriod', window );">2013 Funding</a></td>
        <td class="nump">$ 6,193,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 1,398,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_LoanCommitmentsAmountInvested', window );">Funded loan commitments</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">63,000<span></span></td>
        <td class="nump">1,034,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">60,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_InvestmentCommitmentsRemainingAmount', window );">Remaining Commitment</a></td>
        <td class="nump">54,031,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">52,633,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_LoanCommitmentsOpen', window );">Remaining loan commitments</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 1,316,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 1,256,000<span></span></td>
      </tr>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the amount funded into various investment commitments by the entity during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_InvestmentCommitmentsAmountFundedDuringPeriod</nobr></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the amount of remaining investment commitments of the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_InvestmentCommitmentsRemainingAmount</nobr></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the amount invested into various loan commitments by the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_LoanCommitmentsAmountInvested</nobr></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the amount of open loan commitments as of the balance sheet date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_LoanCommitmentsOpen</nobr></td>
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                    <td>ltc_</td>
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                    <td>credit</td>
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                    <td>instant</td>
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              </div>
            </div>
          </td>
        </tr>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate dividends declared during the period for each share of common stock outstanding.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                  <tr>
                    <td><strong> Name:</strong></td>
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<TYPE>XML
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<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ERQAG">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="2">
          <div>Mar. 31, 2013</div>
        </th>
        <th class="th" colspan="2">
          <div>Dec. 31, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestmentPropertyNetAbstract', window );"><strong>Real estate investments:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Land', window );">Land</a></td>
        <td class="nump">$ 75,407<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">$ 75,407<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentBuildingAndBuildingImprovements', window );">Buildings and improvements</a></td>
        <td class="nump">831,175<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">824,688<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation', window );">Accumulated depreciation and amortization</a></td>
        <td class="num">(204,646)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(198,548)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestmentPropertyNet', window );">Net real estate property</a></td>
        <td class="nump">701,936<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">701,547<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstateCommercialAndConsumerNet', window );">Mortgage loans receivable, net of allowance for doubtful accounts: 2013 - $401; 2012 - $782</a></td>
        <td class="nump">39,741<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">39,299<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet', window );">Real estate investments, net</a></td>
        <td class="nump">741,677<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">740,846<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsUnclassifiedAbstract', window );"><strong>Other assets:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
        <td class="nump">9,621<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">7,191<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFinanceCostsNet', window );">Debt issue costs, net</a></td>
        <td class="nump">2,854<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">3,040<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestReceivable', window );">Interest receivable</a></td>
        <td class="nump">802<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">789<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRentReceivablesNet', window );">Straight-line rent receivable, net of allowance for doubtful accounts: 2013 - $1,567; 2012 - $1,557</a></td>
        <td class="nump">27,925<span></span></td>
        <td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
        <td class="nump">26,998<span></span></td>
        <td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseAndOtherAssets', window );">Prepaid expenses and other assets</a></td>
        <td class="nump">6,656<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">7,548<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableNet', window );">Notes receivable</a></td>
        <td class="nump">3,129<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">3,180<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
        <td class="nump">792,664<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">789,592<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquityAbstract', window );"><strong>LIABILITIES</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAmountOutstanding', window );">Bank borrowings</a></td>
        <td class="nump">117,500<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">115,500<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnsecuredDebt', window );">Senior unsecured notes</a></td>
        <td class="nump">185,800<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">185,800<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_SecuredDebtBondsPayable', window );">Bonds payable</a></td>
        <td class="nump">2,035<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">2,635<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPayableCurrentAndNoncurrent', window );">Accrued interest</a></td>
        <td class="nump">2,285<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">3,279<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_EarnOutLiabilities', window );">Earn-out liabilities</a></td>
        <td class="nump">6,854<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">6,744<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_AccruedExpensesAndOtherLiabilities', window );">Accrued expenses and other liabilities</a></td>
        <td class="nump">11,379<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">12,526<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total liabilities</a></td>
        <td class="nump">325,853<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">326,484<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Stockholders' equity:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockValue', window );">Preferred stock $0.01 par value; 15,000 shares authorized; shares issued and outstanding: 2013 - 2,000; 2012 - 2,000</a></td>
        <td class="nump">38,500<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">38,500<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Common stock: $0.01 par value; 60,000 shares authorized; shares issued and outstanding: 2013 - 30,713; 2012 - 30,544</a></td>
        <td class="nump">307<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">305<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapital', window );">Capital in excess of par value</a></td>
        <td class="nump">516,011<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">510,236<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Cumulative net income</a></td>
        <td class="nump">737,009<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">724,033<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_OtherEquity', window );">Other</a></td>
        <td class="nump">143<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">152<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_CumulativeDistribution', window );">Cumulative distributions</a></td>
        <td class="num">(825,159)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(810,125)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total LTC Properties, Inc. stockholders' equity</a></td>
        <td class="nump">466,811<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">463,101<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinorityInterest', window );">Non-controlling interests</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">7<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Total equity</a></td>
        <td class="nump">466,811<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">463,108<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Total liabilities and equity</a></td>
        <td class="nump">$ 792,664<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">$ 789,592<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr>
        <td colspan="5"></td>
      </tr>
      <tr>
        <td colspan="5">
          <table class="outerFootnotes" width="100%">
            <tr class="outerFootnote">
              <td style="vertical-align: top;" valign="top">[1]</td>
              <td style="vertical-align: top;" valign="top">On March 31, 2013 and December 31, 2012, we had $3,203 and $3,191 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.</td>
            </tr>
          </table>
        </td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_AccruedExpensesAndOtherLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents sum of the carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Also includes money paid in advance to protect the provider of a product or service, such as a lessor, against damage or nonpayment by the buyer or tenant (lessee) during the term of the agreement. Such damages may include physical damage to the property, theft of property, and other contractual breaches.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_AccruedExpensesAndOtherLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_CumulativeDistribution">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount as of the balance sheet date of dividends paid or payable to shareholders since inception.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_CumulativeDistribution</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_EarnOutLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents the liabilities for earn out payments.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_EarnOutLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_OtherEquity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents other equity including accumulated comprehensive income and amortization of net unrealized holding gains on available-for-sale real estate mortgage investment conduit (REMIC) certificates.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_OtherEquity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net book value of real estate property held for investment purposes and the amount of loans that are secured by real estate mortgages, offset by the reserve to cover probable credit losses on the loan portfolio.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_RealEstateInvestmentPropertyAndMortgageLoansOnRealEstateCommercialAndConsumerNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_SecuredDebtBondsPayable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date, including the current and noncurrent portions, of collateralized bonds payable (with maturities initially due after one year or beyond the operating cycle, if longer) secured by assets of the borrower.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_SecuredDebtBondsPayable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapital">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.30(a)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdditionalPaidInCapital</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 12<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Concepts (CON)<br><br><br><br> -Number 6<br><br><br><br> -Paragraph 25<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 18<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Assets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash Equivalents<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 95<br><br><br><br> -Paragraph 8, 9<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 95<br><br><br><br> -Paragraph 7, 26<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3044-108585<br><br><br><br><br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 95<br><br><br><br> -Paragraph 7<br><br><br><br> -Footnote 1<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 1<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsAtCarryingValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredFinanceCostsNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>For an unclassified balance sheet, the carrying amount (net of accumulated amortization) as of the balance sheet date of capitalized costs associated with the issuance of debt instruments (for example, legal, accounting, underwriting, printing, and registration costs) that will be charged against earnings over the life of the debt instruments to which such costs pertain.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 17<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Principles Board Opinion (APB)<br><br><br><br> -Number 21<br><br><br><br> -Paragraph 16<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 835<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28555-108399<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.17)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredFinanceCostsNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRentReceivablesNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cumulative difference between the rental payments required by a lease agreement and the rental income or expense recognized on a straight-line basis, or other systematic and rational basis more representative of the time pattern in which use or benefit is granted or derived from the leased property, expected to be recognized in income or expense over the term of the leased property, by the lessor or lessee, respectively. Such receivable is reduced by allowances attributable to, for instance, credit risk associated with a lessee.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 35<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6453741&amp;loc=d3e40879-112712<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 25<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7501430&amp;loc=d3e39927-112707<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.8)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 25<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7501430&amp;loc=d3e39896-112707<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 13<br><br><br><br> -Paragraph 19<br><br><br><br> -Subparagraph b<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name FASB Technical Bulletin (FTB)<br><br><br><br> -Number 85-3<br><br><br><br> -Paragraph 2<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredRentReceivablesNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPayableCurrentAndNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 15<br><br><br><br> -Subparagraph 5<br><br><br><br> -Article 9<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 942<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.9-03.15(5))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-03.15(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 15<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InterestPayableCurrentAndNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestReceivable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount as of the balance sheet date of interest earned but not received. Also called accrued interest or accrued interest receivable.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.8)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InterestReceivable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentBuildingAndBuildingImprovements">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate of the carrying amounts as of the balance sheet date of investments in building and building improvements.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-03.1(d))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InvestmentBuildingAndBuildingImprovements</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Land">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount as of the balance sheet date of real estate held for productive use. This excludes land held for sale.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -Subparagraph (e)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6812-107765<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.13)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Land</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19-26)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Liabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.32)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 25<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 32<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesAndStockholdersEquity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquityAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesAndStockholdersEquityAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAmountOutstanding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount borrowed under the credit facility as of the balance sheet date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19, 22<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LineOfCreditFacilityAmountOutstanding</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinorityInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 27<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 51<br><br><br><br> -Paragraph A3<br><br><br><br> -Appendix A<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 51<br><br><br><br> -Paragraph 26<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.31)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 51<br><br><br><br> -Paragraph 38<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_MinorityInterest</nobr></td>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MortgageLoansOnRealEstateCommercialAndConsumerNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The balance represents the amount of loans that are secured by real estate mortgages, offset by the reserve to cover probable credit losses on the loan portfolio.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 60<br><br><br><br> -Paragraph 47<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-03.1(c))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph c<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_MortgageLoansOnRealEstateCommercialAndConsumerNet</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Period Type:</strong></td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Net amount of the investment in a contractual right to receive money on demand or on fixed or determinable dates that is recognized as an asset in the creditor's statement of financial position. Examples include, but are not limited to, credit card receivables, notes receivable and receivables relating to lessor's rights to payments from leases other than operating leases that have been recorded as assets. Excludes trade accounts receivable with contractual maturity of one year or less and arose from the sale of goods or services.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.3)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 3<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherAssetsUnclassifiedAbstract</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockValue">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Principles Board Opinion (APB)<br><br><br><br> -Number 12<br><br><br><br> -Paragraph 10<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 129<br><br><br><br> -Paragraph 2, 3, 4, 5, 6, 7, 8<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PreferredStockValue</nobr></td>
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                    <td><strong> Balance Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseAndOtherAssets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amount for an unclassified balance sheet date of expenditures made in advance of when the economic benefit of the cost will be realized, and which will be expensed in future periods with the passage of time or when a triggering event occurs and the carrying amount as of the balance sheet date of assets not otherwise specified in the taxonomy. Also includes assets not individually reported in the financial statements, or not separately disclosed in notes.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PrepaidExpenseAndOtherAssets</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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            </div>
          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cumulative amount of depreciation for real estate property held for investment purposes.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-03.1(3))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 1<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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            </div>
          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateInvestmentPropertyNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of real estate investment property, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-03.1(d))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RealEstateInvestmentPropertyNet</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td><strong> Data Type:</strong></td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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          </td>
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        <tr>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
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                <p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.31(a)(3))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Principles Board Opinion (APB)<br><br><br><br> -Number 12<br><br><br><br> -Paragraph 10<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br><br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29-31)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30, 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 51<br><br><br><br> -Paragraph A3<br><br><br><br> -Appendix A<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 310<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SAB TOPIC 4.E)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6228006&amp;loc=d3e74512-122707<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 4<br><br><br><br> -Section E<br><br><br><br><br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockholdersEquityAbstract</nobr></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 810<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 16<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4568740-111683<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 51<br><br><br><br> -Paragraph A3<br><br><br><br> -Appendix A<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 51<br><br><br><br> -Paragraph 26<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 810<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 55<br><br><br><br> -Paragraph 4I<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733213&amp;loc=SL4590271-111686<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 810<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 15<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4568447-111683<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 51<br><br><br><br> -Paragraph 25<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Including the current and noncurrent portions, carrying value as of the balance sheet date of uncollateralized debt obligations (with maturities initially due after one year or beyond the operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Article 5<br><br><br><br> -Subsection 19, 20, 22<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-03.16)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 942<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.9-03.16)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 16<br><br><br><br> -Article 9<br><br><br><br><br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EHHAC">
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          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="2">3 Months Ended</th>
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          <div>Mar. 31, 2013</div>
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        <th class="th">
          <div>Mar. 31, 2012</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income</a></td>
        <td class="nump">$ 12,976<span></span></td>
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        <td class="num">(9)<span></span></td>
        <td class="num">(13)<span></span></td>
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        <td class="nump">12,919<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest', window );">Comprehensive income allocated to non-controlling interests</a></td>
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        <td class="nump">$ 12,908<span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(3)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 30<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=16317811<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=20435746&amp;loc=d3e557-108580<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A5<br><br> -Appendix A<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 21<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4613674-111683<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 20<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569643-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(3)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733213&amp;loc=SL4591552-111686<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 30<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A5<br><br> -Appendix A<br><br><br><br></p>
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                <p>The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the economic entity, including both controlling (parent) and noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, including any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 29<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A5<br><br> -Appendix A<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733213&amp;loc=SL4591552-111686<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br></p>
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                <p>Net of tax amount of other comprehensive income (loss) attributable to both parent entity and noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1A<br><br> -URI http://asc.fasb.org/extlink&amp;oid=20435746&amp;loc=SL7669619-108580<br><br><br><br></p>
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                <p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A1, A4, A5<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 29<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 5<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733213&amp;loc=SL4591552-111686<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -Subparagraph (a),(c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(1)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4J<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733213&amp;loc=SL4591551-111686<br><br><br><br></p>
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          <div>Mar. 31, 2013

</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_BusinessAcquisitionNumberOfUnitsInBusinessAcquired', window );">Number of beds/units acquired</a></td>
        <td class="nump">785<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Assisted living and Memory care property</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_CapitalImprovementAndLoanCommitmentsLineItems', window );"><strong>Commitments and Contingencies</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfBusinessesAcquired', window );">Number of Properties</a></td>
        <td class="nump">2<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_BusinessAcquisitionNumberOfUnitsInBusinessAcquired', window );">Number of beds/units acquired</a></td>
        <td class="nump">158<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Memory care property</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_CapitalImprovementAndLoanCommitmentsLineItems', window );"><strong>Commitments and Contingencies</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_BusinessAcquisitionNumberOfUnitsInBusinessAcquired', window );">Number of beds/units acquired</a></td>
        <td class="nump">60<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Assisted Living</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_CapitalImprovementAndLoanCommitmentsLineItems', window );"><strong>Commitments and Contingencies</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfBusinessesAcquired', window );">Number of Properties</a></td>
        <td class="nump">3<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_BusinessAcquisitionNumberOfUnitsInBusinessAcquired', window );">Number of beds/units acquired</a></td>
        <td class="nump">136<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Mortgage Loans</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_CapitalImprovementAndLoanCommitmentsLineItems', window );"><strong>Commitments and Contingencies</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_LoanCommitments', window );">Loan commitments</a></td>
        <td class="nump">10,600,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_LoanCommitmentsTotalAmountInvested', window );">Total funded loan commitments</a></td>
        <td class="nump">3,530,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_LoanCommitmentsOpen', window );">Remaining loan commitments</a></td>
        <td class="nump">7,070,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Loan commitments, maturities ranging from 2013 to 2014</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_CapitalImprovementAndLoanCommitmentsLineItems', window );"><strong>Commitments and Contingencies</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_LoanCommitments', window );">Loan commitments</a></td>
        <td class="nump">1,525,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_LoanCommitmentsTotalAmountInvested', window );">Total funded loan commitments</a></td>
        <td class="nump">209,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_LoanCommitmentsOpen', window );">Remaining loan commitments</a></td>
        <td class="nump">$ 1,316,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_BusinessAcquisitionNumberOfUnitsInBusinessAcquired">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the number of beds/units in the acquired business.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_BusinessAcquisitionNumberOfUnitsInBusinessAcquired</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_CapitalImprovementAndLoanCommitmentsLineItems">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_CapitalImprovementAndLoanCommitmentsLineItems</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_CapitalImprovementCommitments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the amount of capital improvement commitment of the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_CapitalImprovementCommitments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the commitments of the entity to develop, re-develop, renovate and expand nursing properties as on the balance sheet date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_CommitmentToDevelopRedevelopRenovateAndExpandNursingProperties</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_EarnOutLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents the liabilities for earn out payments.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_EarnOutLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_EarnOutLiabilitiesNonCashInterestExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the non-cash interest expense related to the earn-out liabilities which represents the accretion of the difference between the current fair value and estimated payment of the contingent earn-out liabilities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_EarnOutLiabilitiesNonCashInterestExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the number of units agreed to be funded for construction under the lease agreement and development commitment.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_LoanCommitments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the amount of loan commitments of the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_LoanCommitments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_LoanCommitmentsOpen">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the amount of open loan commitments as of the balance sheet date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_LoanCommitmentsOpen</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_LoanCommitmentsTotalAmountInvested">
        <tr>
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                <p>Represents the total amount invested into various loan commitments by the entity.</p>
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                <p>No definition available.</p>
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                <p>The number of businesses acquired by the entity during the period.</p>
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                <p>No definition available.</p>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EKH">
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          <div style="width: 200px;"><strong>Equity (Tables)<br></strong></div>
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        <th class="th" colspan="1">3 Months Ended</th>
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          <div>Mar. 31, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteAbstract', window );"><strong>Equity</strong></a></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">Equity is allocated between controlling and non-controlling interests as follows <i>(in thousands)</i>:</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in">&#160;</p>
<table style="MARGIN-LEFT: 28.35pt; WIDTH: 651px; BORDER-COLLAPSE: collapse; HEIGHT: 273px" cellspacing="0" cellpadding="0" width="651" border="0">
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">LTC<br />
Properties,&#160;Inc.<br />
Stockholders&#8217;<br />
Equity</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.82%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Non-controlling<br />
Interest</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Total<br />
Equity</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.48%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Balance at December&#160;31, 2012</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.82%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$463,101</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.82%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%">
<p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$7</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$463,108</font></p></td>
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<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Net income</font></p></td>
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<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">12,976</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">12,976</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.48%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Issue common stock</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">4,293</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">4,293</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.48%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Vested restricted common stock</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">985</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">985</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.48%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Stock option exercise</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">523</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">523</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.48%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Reclassification adjustment</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 15.1pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(9)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(9</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.48%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">)</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Non-controlling interest preferred return</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 20.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(7)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(7</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.48%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">)</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Preferred stock dividends</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 15.1pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(818)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(818</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.48%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">)</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Common stock dividends</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 15.1pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(14,217)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(14,217</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.48%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">)</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Other</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.82%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 15.1pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(23)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.82%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(23</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.48%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">)</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Balance at March&#160;31, 2013</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.82%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$466,811</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.82%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="15%">
<p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$466,811</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.48%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr></table>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in">&#160;</p></div>
<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_ScheduleOfChangeFromNetIncomeAttributableToEntityAndTransfersFromNoncontrollingInterestTableTextBlock', window );">Schedule of change from net income attributable to us and transfers from non-controlling interest</a></td>
        <td class="text"><div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">The following table represents the change from net income attributable to us and transfers from non-controlling interest <i>(in thousands):</i></font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in">&#160;</p>
<table style="MARGIN-LEFT: 0.5in; WIDTH: 644px; BORDER-COLLAPSE: collapse; HEIGHT: 131px" cellspacing="0" cellpadding="0" width="644" border="0">
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 68.26%; PADDING-TOP: 0in" valign="bottom" width="68%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 25.96%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="25%" colspan="3">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Three&#160;months&#160;ended<br />
&#160;March&#160;31,</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.88%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 68.26%; PADDING-TOP: 0in" valign="bottom" width="68%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">2013</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.88%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">2012</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.88%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 68.26%; PADDING-TOP: 0in" valign="bottom" width="68%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Net income attributable to LTC Properties,&#160;Inc.</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%">
<p style="MARGIN: 0in 15.85pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$12,976</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$12,921</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 68.26%; PADDING-TOP: 0in" valign="bottom" width="68%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Transfers from the non-controlling interest</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11.54%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 15.85pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11.54%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 68.26%; PADDING-TOP: 0in" valign="bottom" width="68%">
<p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Decrease in paid-in capital for limited partners conversion</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 15.85pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(1,246)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 68.26%; PADDING-TOP: 0in" valign="bottom" width="68%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Change from net income attributable to LTC Properties,&#160;Inc. and transfers from non-controlling interest</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%">
<p style="MARGIN: 0in 15.85pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$12,976</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$11,675</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr></table>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in">&#160;</p></div>
<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_ScheduleOfDividendDistributionsTableTextBlock', window );">Schedule of cash dividends declared and paid</a></td>
        <td class="text"><div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt" size="2">We declared and paid the following cash dividends <i>(in thousands)</i>:</font></p>
<p style="MARGIN: 0in 0in 0pt">&#160;</p>
<table style="MARGIN-LEFT: 0.25in; WIDTH: 687px; BORDER-COLLAPSE: collapse; HEIGHT: 171px" cellspacing="0" cellpadding="0" width="687" border="0">
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 32.14%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="32%" colspan="3">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Three&#160;months&#160;ended&#160;March&#160;31,&#160;2013</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 32.14%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="32%" colspan="3">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Three&#160;months&#160;ended&#160;March&#160;31,&#160;2012</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Declared</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Paid</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Declared</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.14%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Paid</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Preferred Stock</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%">
<p style="MARGIN: 0in 0in 0pt 30pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Series&#160;C</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$&#160;&#160;&#160;&#160;&#160;818</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$&#160;&#160;&#160;&#160;&#160;818</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$&#160;&#160;&#160;&#160;&#160;818</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$&#160;&#160;&#160;&#160;&#160;818</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Total Preferred</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">818</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">818</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">818</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">818</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Common Stock <font style="POSITION: relative; TOP: -3pt">(1)</font></font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">14,217</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">14,217</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">13,226</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">13,226</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
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<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
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<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Total</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$15,035</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$15,035</font></p></td>
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<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$14,044</font></p></td>
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<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$14,044</font></p></td>
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<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr></table>
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<p style="MARGIN: 0in 0in 0pt 0.75in; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">(1)</font><font style="FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> <font style="FONT-SIZE: 9pt" size="1">Represents $0.155 per share per month and $0.145 per share per month for the three months ended March&#160;31, 2013 and 2012, respectively.</font></p>
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          <div style="width: 200px;"><strong>Major Operators (Details) (USD $)<br>In Thousands, unless otherwise specified</strong></div>
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          <div>Mar. 31, 2013

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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfUnitsInRealEstateProperty', window );">Number of beds/units</a></td>
        <td class="nump">1,414<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Operators | Preferred Care | Assisted Living | ALF Units</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskLineItems', window );"><strong>Major Operators</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfUnitsInRealEstateProperty', window );">Number of beds/units</a></td>
        <td class="nump">49<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Operators | Preferred Care | Skilled Nursing</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskLineItems', window );"><strong>Major Operators</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits', window );">Number of properties leased</a></td>
        <td class="nump">27<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits', window );">Number of properties sub-leased</a></td>
        <td class="nump">1<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Operators | Preferred Care | Skilled Nursing | SNF Beds</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskLineItems', window );"><strong>Major Operators</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfUnitsInRealEstateProperty', window );">Number of beds/units</a></td>
        <td class="nump">3,354<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Operators | Preferred Care | Range of Care</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskLineItems', window );"><strong>Major Operators</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits', window );">Number of properties leased</a></td>
        <td class="nump">2<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Total assets | Operators | Extendicare Inc. and ALC</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskLineItems', window );"><strong>Major Operators</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk (as a percent)</a></td>
        <td class="nump">6.70%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
        <td class="nump">52,877<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Total assets | Operators | Brookdale</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskLineItems', window );"><strong>Major Operators</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk (as a percent)</a></td>
        <td class="nump">6.70%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
        <td class="nump">53,038<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Total assets | Operators | Preferred Care</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskLineItems', window );"><strong>Major Operators</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk (as a percent)</a></td>
        <td class="nump">6.60%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
        <td class="nump">$ 51,945<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Rent and Interest Revenue | Operators | Extendicare Inc. and ALC</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskLineItems', window );"><strong>Major Operators</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk (as a percent)</a></td>
        <td class="nump">10.70%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Rent and Interest Revenue | Operators | Brookdale</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskLineItems', window );"><strong>Major Operators</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk (as a percent)</a></td>
        <td class="nump">10.70%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Rent and Interest Revenue | Operators | Preferred Care</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskLineItems', window );"><strong>Major Operators</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk (as a percent)</a></td>
        <td class="nump">10.50%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_NumberOfOperators">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The number of major operators of the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_NumberOfOperators</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the number of units (items of property) under operating sub-lease arrangements.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_PropertySubjectToOrAvailableForOperatingSubLeaseNumberOfUnits</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Percentage of rental and interest income derived from each of the major operators.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_RentalAndInterestIncomeDerivedFromEachMajorOperatorPercentage</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 12<br><br> -Article 7<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Concepts (CON)<br><br> -Number 6<br><br> -Paragraph 25<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 18<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Assets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskLineItems">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ConcentrationRiskLineItems</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskPercentage1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 18<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6351-108592<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 21<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7491637&amp;loc=d3e13537-108611<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 20<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6404-108592<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 20<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7491637&amp;loc=d3e13531-108611<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ConcentrationRiskPercentage1</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The number of units in a real estate property owned as of the balance sheet date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NumberOfUnitsInRealEstateProperty</nobr></td>
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                <p>The number of units (items of property) under operating lease arrangements.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>Fair Value Measurements (Tables)<br></strong></div>
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        <th class="th" colspan="1">3 Months Ended</th>
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          <div>Mar. 31, 2013</div>
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<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">The carrying value and fair value of our financial instruments as of March&#160;31, 2013 and December&#160;31, 2012 assuming election of fair value for our financial assets and financial liabilities were as follows (<i>in thousands</i>):</font></p>
<p style="MARGIN: 0in 0in 0pt">&#160;</p>
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<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 28.08%; PADDING-TOP: 0in" valign="bottom" width="28%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 31.28%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="31%" colspan="3">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">At March&#160;31, 2013</font></p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">At December&#160;31, 2012</font></p></td></tr>
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<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 28.08%; PADDING-TOP: 0in" valign="bottom" width="28%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.16%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="14%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Carrying<br />
Value</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.96%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.16%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="14%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Fair<br />
Value</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.16%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="14%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Carrying<br />
Value</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.94%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 17.66%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="17%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Fair<br />
Value</font></p></td></tr>
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<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Mortgage loans receivable</font></p></td>
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<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.16%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="14%">
<p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$39,741</font></p></td>
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<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.16%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="14%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$45,060</font><font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1">(1)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.16%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="14%">
<p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$39,299</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 17.66%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="17%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$44,939</font><font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1">(1)</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 28.08%; PADDING-TOP: 0in" valign="bottom" width="28%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Bonds payable</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%">
<p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">2,035</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.96%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">2,035</font><font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1">(2)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%">
<p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">2,635</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 17.66%; PADDING-TOP: 0in" valign="bottom" width="17%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">2,635</font><font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1">(2)</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 28.08%; PADDING-TOP: 0in" valign="bottom" width="28%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Bank borrowings</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%">
<p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">117,500</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.96%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">117,500</font><font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1">(2)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%">
<p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">115,500</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 17.66%; PADDING-TOP: 0in" valign="bottom" width="17%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">115,500</font><font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1">(2)</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 28.08%; PADDING-TOP: 0in" valign="bottom" width="28%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Senior unsecured notes</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
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                <p>Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.</p>
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This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7578670&amp;loc=d3e19207-110258<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6447952&amp;loc=d3e13220-108610<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 157<br><br> -Paragraph 32<br><br> -Subparagraph a, c(1), c(2), c(3), d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  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<DOCUMENT>
<TYPE>XML
<SEQUENCE>33
<FILENAME>R7.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EFZAG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="4">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th" colspan="2">
          <div>Mar. 31, 2013</div>
        </th>
        <th class="th" colspan="2">
          <div>Mar. 31, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>OPERATING ACTIVITIES:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income</a></td>
        <td class="nump">$ 12,976<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">$ 12,932<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income to net cash provided by operating activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationDepletionAndAmortization', window );">Depreciation and amortization</a></td>
        <td class="nump">6,136<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">5,167<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Stock-based compensation expense</a></td>
        <td class="nump">985<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">452<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax', window );">Gain on sale of assets, net</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(16)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StraightLineRent', window );">Straight-line rental income</a></td>
        <td class="num">(937)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
        <td class="num">(647)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProvisionForDoubtfulAccounts', window );">Provision for doubtful accounts</a></td>
        <td class="nump">15<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">1<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCosts', window );">Non-cash interest related to earn-out liabilities</a></td>
        <td class="nump">110<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">110<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherNoncashIncomeExpense', window );">Other non-cash items, net</a></td>
        <td class="nump">178<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">325<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInInterestPayableNet', window );">(Decrease) increase in accrued interest payable</a></td>
        <td class="num">(994)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">23<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet', window );">(Increase) decrease in interest receivable</a></td>
        <td class="num">(24)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">172<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet', window );">Net change in other assets and liabilities</a></td>
        <td class="num">(1,061)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(1,681)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net cash provided by operating activities</a></td>
        <td class="nump">17,384<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">16,838<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>INVESTING ACTIVITIES:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireRealEstate', window );">Investment in real estate properties, net</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(18,600)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToDevelopRealEstateAssets', window );">Investment in real estate properties under development</a></td>
        <td class="num">(3,952)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForCapitalImprovements', window );">Investment in real estate capital improvements</a></td>
        <td class="num">(2,358)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(202)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment', window );">Proceeds from sale of real estate investments, net</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">1,248<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireMortgageNotesReceivable', window );">Advances under mortgage loans receivable</a></td>
        <td class="num">(910)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleAndCollectionOfMortgageNotesReceivable', window );">Principal payments received on mortgage loans receivable</a></td>
        <td class="nump">462<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">718<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireNotesReceivable', window );">Advances under notes receivable</a></td>
        <td class="num">(63)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(1,034)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleAndCollectionOfNotesReceivable', window );">Principal payments received on notes receivable</a></td>
        <td class="nump">114<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">191<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net cash used in investing activities</a></td>
        <td class="num">(6,707)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(17,679)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>FINANCING ACTIVITIES:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromBankDebt', window );">Bank borrowings</a></td>
        <td class="nump">2,000<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">17,000<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfSecuredDebt', window );">Principal payments on bonds payable</a></td>
        <td class="num">(600)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(565)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOrSaleOfEquity', window );">Proceeds from common stock offering</a></td>
        <td class="nump">4,895<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromStockOptionsExercised', window );">Stock option exercises</a></td>
        <td class="nump">523<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">151<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfDividends', window );">Distributions paid to stockholders</a></td>
        <td class="num">(15,035)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(14,044)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest', window );">Redemption of non-controlling interests</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(2,764)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfDividendsMinorityInterest', window );">Distributions paid to non-controlling interests</a></td>
        <td class="num">(7)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(48)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities', window );">Other</a></td>
        <td class="num">(23)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net cash used in financing activities</a></td>
        <td class="num">(8,247)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(270)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Increase (decrease) in cash and cash equivalents</a></td>
        <td class="nump">2,430<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(1,111)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents, beginning of period</a></td>
        <td class="nump">7,191<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">4,408<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents, end of period</a></td>
        <td class="nump">9,621<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">3,297<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowInformationAbstract', window );"><strong>SUPPLEMENTAL CASH FLOW INFORMATION:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaidNet', window );">Interest paid</a></td>
        <td class="nump">$ 4,118<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">$ 1,855<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr>
        <td colspan="5"></td>
      </tr>
      <tr>
        <td colspan="5">
          <table class="outerFootnotes" width="100%">
            <tr class="outerFootnote">
              <td style="vertical-align: top;" valign="top">[1]</td>
              <td style="vertical-align: top;" valign="top">During the three months ended March 31, 2013 and 2012, we recorded $12 and $39, respectively, in straight-line rental income from a lessee that qualifies as a related party.  The lessee's Chief Executive Officer is on our Board of Directors.  See Note 9. Transactions with Related Party for further discussion.</td>
            </tr>
          </table>
        </td>
      </tr>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</nobr></td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfFinancingCosts">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 8<br><br> -Article 9<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.8)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 8<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AmortizationOfFinancingCosts</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash Equivalents<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 8, 9<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 7, 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3044-108585<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 7<br><br> -Footnote 1<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsAtCarryingValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationDepletionAndAmortization">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DepreciationDepletionAndAmortization</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of gain (loss), after tax expense or benefit and not previously recognized, resulting from the sale of a business component.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 144<br><br> -Paragraph 47<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e957-107759<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 144<br><br> -Paragraph 43<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the amount due from borrowers for interest payments.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInInterestPayableNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in interest payable, which represents the amount owed to note holders, bond holders, and other parties for interest earned on loans or credit extended to the reporting entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInInterestPayableNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in other assets used in operating activities less other operating liabilities used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets and liabilities, other noncurrent assets and liabilities, or a combination of other current and noncurrent assets and liabilities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPaidNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of cash paid for interest during the period net of cash paid for interest that is capitalized.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 29<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 27<br><br> -Subparagraph e<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InterestPaidNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash inflow or outflow from financing activity for the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 26<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3574-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInFinancingActivities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash inflow or outflow from investing activity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 26<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3574-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInInvestingActivities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 25<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3536-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3521-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInOperatingActivities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherNoncashIncomeExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Other income (expense) included in net income that results in no cash inflows or outflows in the period. Includes noncash adjustments to reconcile net income (loss) to cash provided by (used in) operating activities that are not separately disclosed.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherNoncashIncomeExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsForCapitalImprovements">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow for acquisition of or capital improvements to properties held for investment (operating, managed, leased) or for use.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3213-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 17<br><br> -Subparagraph c<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsForCapitalImprovements</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow during the period for redemption of redeemable noncontrolling interests.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsOfDividends">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 20<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3291-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsOfDividends</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsOfDividendsMinorityInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Cash outflow in the form of ordinary dividends to noncontrolling interests, generally out of earnings.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 20<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3291-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsOfDividendsMinorityInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireMortgageNotesReceivable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow from the purchase of receivables arising from the mortgage note on real estate.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 15, 17<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3213-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsToAcquireMortgageNotesReceivable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireNotesReceivable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow to acquire an agreement for an unconditional promise by the maker to pay the entity (holder) a definite sum of money at a future date. Such amount may include accrued interest receivable in accordance with the terms of the note. The note also may contain provisions including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among myriad other features and characteristics.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 17<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3213-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsToAcquireNotesReceivable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireRealEstate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow from the acquisition of a piece of land, anything permanently fixed to it, including buildings, structures on it and so forth; includes real estate intended to generate income for the owner; excludes real estate acquired for use by the owner.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 17<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3213-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsToAcquireRealEstate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToDevelopRealEstateAssets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Payments to develop real estate assets is the process of adding improvements on or to a parcel of land. Such improvements may include drainage, utilities, subdividing, access, buildings, and any combination of these elements; and are generally classified as cash flow from investing activities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 17<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3213-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsToDevelopRealEstateAssets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromBankDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow from bank borrowing during the year.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 19<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3255-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromBankDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOrSaleOfEquity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow from the issuance of common stock, preferred stock, treasury stock, stock options, and other types of equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 19<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3255-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromIssuanceOrSaleOfEquity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash inflow or outflow from other financing activities. This element is used when there is not a more specific and appropriate element in the taxonomy.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18, 19, 20<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3095-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 9<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3098-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromPaymentsForOtherFinancingActivities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromSaleAndCollectionOfMortgageNotesReceivable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow from proceeds from sale of receivables arising from the mortgage note on real estate; includes collections on mortgage notes receivable that are not classified as operating cash flows.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 15, 16<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 12<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3179-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromSaleAndCollectionOfMortgageNotesReceivable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromSaleAndCollectionOfNotesReceivable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow associated with the proceeds from sale of notes receivable, as well as principal collections from a borrowing supported by a written promise to pay an obligation (note receivable).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 15, 16<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 12<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3179-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromSaleAndCollectionOfNotesReceivable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Cash received from the sale of real estate that is held for investment, that is, it is part of an investing activity during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 16<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 12<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3179-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromStockOptionsExercised">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 123R<br><br> -Paragraph A240<br><br> -Subparagraph i<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3255-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 19<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (j)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromStockOptionsExercised</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A1, A4, A5<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 29<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 5<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733213&amp;loc=SL4591552-111686<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -Subparagraph (a),(c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(1)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4J<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733213&amp;loc=SL4591551-111686<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProfitLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProvisionForDoubtfulAccounts">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of the current period expense charged against operations, the offset which is generally to the allowance for doubtful accounts for the purpose of reducing receivables, including notes receivable, to an amount that approximates their net realizable value (the amount expected to be collected).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 5<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.5)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProvisionForDoubtfulAccounts</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RepaymentsOfSecuredDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow to repay long-term debt that is wholly or partially secured by collateral. Excludes repayments of tax exempt secured debt.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3291-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 20<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RepaymentsOfSecuredDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensation</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StraightLineRent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Difference between actual rental income due and rental income recognized on a straight-line basis.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StraightLineRent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SupplementalCashFlowInformationAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SupplementalCashFlowInformationAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
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  <head>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EUEAE">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)<br>In Thousands, except Share data, unless otherwise specified</strong></div>
        </th>
        <th class="th">
          <div>Mar. 31, 2013</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementOfFinancialPositionAbstract', window );"><strong>CONSOLIDATED BALANCE SHEETS</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForLoanAndLeaseLossesRealEstate', window );">Mortgage loans receivable, allowance for doubtful accounts (in dollars)</a></td>
        <td class="nump">$ 401<span></span></td>
        <td class="nump">$ 782<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables', window );">Straight-line rent receivable, allowance for doubtful accounts (in dollars)</a></td>
        <td class="nump">1,567<span></span></td>
        <td class="nump">1,557<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Preferred stock, par value (in dollars per share)</a></td>
        <td class="nump">$ 0.01<span></span></td>
        <td class="nump">$ 0.01<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesAuthorized', window );">Preferred stock, shares authorized</a></td>
        <td class="nump">15,000,000<span></span></td>
        <td class="nump">15,000,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Preferred stock, shares issued</a></td>
        <td class="nump">2,000,000<span></span></td>
        <td class="nump">2,000,000<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">Preferred stock, shares outstanding</a></td>
        <td class="nump">2,000,000<span></span></td>
        <td class="nump">2,000,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common stock, par value (in dollars per share)</a></td>
        <td class="nump">$ 0.01<span></span></td>
        <td class="nump">$ 0.01<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Common stock, shares authorized</a></td>
        <td class="nump">60,000,000<span></span></td>
        <td class="nump">60,000,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Common stock, shares issued</a></td>
        <td class="nump">30,713,000<span></span></td>
        <td class="nump">30,544,000<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Common stock, shares outstanding</a></td>
        <td class="nump">30,713,000<span></span></td>
        <td class="nump">30,544,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedParties', window );">Straight-line rent receivable from a lessee that qualifies as a related party (in dollars)</a></td>
        <td class="nump">$ 3,203<span></span></td>
        <td class="nump">$ 3,191<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The valuation allowance as of the balance sheet date to reduce the gross amount of receivables to estimated net realizable value, which would be presented in parentheses on the face of the balance sheet.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7512638&amp;loc=d3e5074-111524<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.(a),5)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 5<br><br> -Article 7<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllowanceForLoanAndLeaseLossesRealEstate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The reserve to cover probable credit losses related to specifically identified fixed maturity real estate loans as well as probable credit losses inherent in the remainder of that loan portfolio.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 60<br><br> -Paragraph 47<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 310<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6873192&amp;loc=d3e21338-158488<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AllowanceForLoanAndLeaseLossesRealEstate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Face amount or stated value of common stock per share; generally not indicative of the fair market value per share.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockParOrStatedValuePerShare</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockSharesAuthorized</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockSharesIssued</nobr></td>
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                    <td><strong> Data Type:</strong></td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesOutstanding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockSharesOutstanding</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueFromRelatedParties">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>For an unclassified balance sheet, amounts due from related parties including affiliates, employees, joint ventures, officers and stockholders, immediate families thereof, and pension funds.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name FASB Interpretation (FIN)<br><br> -Number 46R<br><br> -Paragraph 16, 17<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (d)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph k<br><br> -Subparagraph 1<br><br> -Article 4<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(k)(1))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-03.10(3))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 3<br><br> -Article 7<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 57<br><br> -Paragraph 2<br><br> -Subparagraph d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.3)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DueFromRelatedParties</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockParOrStatedValuePerShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 2, 3, 4, 5, 6, 7, 8<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PreferredStockParOrStatedValuePerShare</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesAuthorized">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 2, 3, 4, 5, 6, 7, 8<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PreferredStockSharesAuthorized</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesIssued">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PreferredStockSharesIssued</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PreferredStockSharesOutstanding</nobr></td>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>Transactions with Related Party<br></strong></div>
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<p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">9.</font></b><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></b> <b><font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt" size="2">Transactions with Related Party</font></b></p>
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<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">We have entered into transactions with Skilled Healthcare Group,&#160;Inc. (or SHG).&#160; One of our directors, Boyd W. Hendrickson, serves as Chief Executive Officer of SHG.</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">In December&#160;2005, we purchased, on the open market, $10,000,000 face value of SHG Senior Subordinated Notes with a face rate of 11.0% and an effective yield of 11.1%.&#160; Our Board of Directors, with Mr.&#160;Hendrickson abstaining, ratified the purchase of SHG Senior Subordinated Notes.&#160; As a result of an early redemption by SHG in 2007, we had a remaining investment in $6,500,000 face value of SHG Senior Subordinated Notes. During 2012, SHG redeemed all of their outstanding Senior Subordinated Notes at par value plus accrued and unpaid interest up to the redemption date. During the three months ended March&#160;31, 2012, we recognized $180,000 of interest income related to the SHG Senior Subordinated Notes.</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">In addition, during September&#160;2007 SHG purchased the assets of Laurel Healthcare (or Laurel).&#160; We were not a direct party to this transaction.&#160; One of the assets SHG purchased was Laurel&#8217;s leasehold interests in the skilled nursing properties in New Mexico Laurel leased from us under a 15-year master lease agreement dated in February&#160;2006.&#160; Our Board of Directors, with Mr.&#160;Hendrickson abstaining, ratified our consent to the assignment of Laurel&#8217;s master lease to subsidiaries of SHG.&#160; The economic terms of the master lease agreement did not change as a result of our assignment of the master lease to subsidiaries of SHG.&#160; During the three months ended March&#160;31, 2013 and 2012, we received $1,113,000 and $1,086,000, respectively, in rental income and recorded $12,000 and $39,000, respectively, in straight-line rental income from subsidiaries of SHG.&#160; At March&#160;31, 2013 and December&#160;31, 2012, the straight-line rent receivable from subsidiaries of SHG was $3,203,000 and $3,191,000, respectively.</font></p></div>
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                <p>The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.</p>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EPCAE">
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                <p>No definition available.</p>
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                <p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".</p>
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                <p>No definition available.</p>
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                <p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p>
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                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation 12B<br><br> -Number 240<br><br> -Section 12b<br><br> -Subsection 1<br><br><br><br></p>
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                <p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p>
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                <p>No definition available.</p>
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                <p>Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p>
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                <p>No definition available.</p>
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                <p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p>
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                <p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation 12B<br><br> -Number 240<br><br> -Section 12b<br><br> -Subsection 1<br><br><br><br></p>
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<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Income from continuing operations</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$12,976</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$12,916</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Less net income allocated to non-controlling interests</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(11)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Less net income allocated to participating securities:</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;Nonforfeitable dividends on participating securities</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(98)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(94)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Total net income allocated to participating securities</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(98)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(94)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Less net income allocated to preferred stockholders:</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;Preferred stock dividends</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(818)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(818)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Total net income allocated to preferred stockholders</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(818)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(818)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Income from continuing operations available to common stockholders</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">12,060</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">11,993</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Discontinued operations:</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;Gain on sale of assets, net</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">16</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Total net income from discontinued operations</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">16</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Net income available to common stockholders</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">12,060</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">12,009</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Effect of dilutive securities:</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Convertible preferred securities</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Net income for diluted net income per share</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$12,060</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$12,009</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Shares for basic net income per share</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">30,365</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">30,189</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Effect of dilutive securities:</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Stock options</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">34</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">45</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Convertible preferred securities</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Shares for diluted net income per share</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">30,399</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">30,234</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
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<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
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<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
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<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Basic net income per share</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$0.40</font></p></td>
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<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$0.40</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
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<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Diluted net income per share</font> <font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1">(1)</font></p></td>
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<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$0.40</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$0.40</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr></table>
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">_______________</font></p>
<p style="MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">(1)</font><font style="FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> <font style="FONT-SIZE: 9pt" size="1">For the three months ended March&#160;31, 2013 and 2012, the Series&#160;C Cumulative Convertible Preferred Stock, the participating securities and the non-controlling interest have been excluded from the computation of diluted net income per share as such inclusion would be anti-dilutive.</font></p>
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></div>
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                <p>The entire disclosure for earnings per share.</p>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0E1KAG">
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          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF INCOME (USD $)<br>In Thousands, except Per Share data, unless otherwise specified</strong></div>
        </th>
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          <div>Mar. 31, 2013</div>
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          <div>Mar. 31, 2012</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenues:</strong></a></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">$ 24,511<span></span></td>
        <td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
        <td class="nump">$ 20,872<span></span></td>
        <td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
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        <td class="nump">1,059<span></span></td>
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        <td class="nump">1,532<span></span></td>
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        <td class="nump">93<span></span></td>
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        <td class="nump">236<span></span></td>
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        <td class="nump">22,640<span></span></td>
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        <td class="nump">3,133<span></span></td>
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        <td class="nump">2,033<span></span></td>
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        <td class="nump">5,167<span></span></td>
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        <td class="nump">3,418<span></span></td>
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        <td class="nump">2,524<span></span></td>
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        <td class="nump">12,687<span></span></td>
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        <td class="nump">9,724<span></span></td>
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        <td class="nump">12,976<span></span></td>
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        <td class="nump">12,916<span></span></td>
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        <td class="nump">16<span></span></td>
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        <td class="nump">16<span></span></td>
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        <td class="nump">12,976<span></span></td>
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        <td class="nump">12,932<span></span></td>
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        <td class="num">(11)<span></span></td>
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        <td class="nump">12,976<span></span></td>
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        <td class="nump">12,921<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UndistributedEarningsAllocatedToParticipatingSecurities', window );">Income allocated to participating securities</a></td>
        <td class="num">(98)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(94)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockDividendsAndOtherAdjustments', window );">Income allocated to preferred stockholders</a></td>
        <td class="num">(818)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(818)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic', window );">Net income available to common stockholders</a></td>
        <td class="nump">$ 12,060<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">$ 12,009<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAbstract', window );"><strong>Basic earnings per common share</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsPerBasicShare', window );">Continuing operations (in dollars per share)</a></td>
        <td class="nump">$ 0.40<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">$ 0.40<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare', window );">Discontinued operations (in dollars per share)</a></td>
        <td class="nump">$ 0.00<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">$ 0.00<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Net income available to common stockholders (in dollars per share)</a></td>
        <td class="nump">$ 0.40<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">$ 0.40<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDilutedAbstract', window );"><strong>Diluted earnings per common share</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare', window );">Continuing operations (in dollars per share)</a></td>
        <td class="nump">$ 0.40<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">$ 0.40<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare', window );">Discontinued operations (in dollars per share)</a></td>
        <td class="nump">$ 0.00<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">$ 0.00<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Net income available to common stockholders (in dollars per share)</a></td>
        <td class="nump">$ 0.40<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">$ 0.40<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract', window );"><strong>Weighted average shares used to calculate earnings per common share</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Basic (in shares)</a></td>
        <td class="nump">30,365<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">30,189<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Diluted (in shares)</a></td>
        <td class="nump">30,399<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">30,234<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr>
        <td colspan="5"></td>
      </tr>
      <tr>
        <td colspan="5">
          <table class="outerFootnotes" width="100%">
            <tr class="outerFootnote">
              <td style="vertical-align: top;" valign="top">[1]</td>
              <td style="vertical-align: top;" valign="top">During the three months ended March 31, 2013 and 2012, we received $1,113 and $1,086, respectively, in rental income and recorded $12 and $39, respectively, in straight-line rental income from a lessee that qualifies as a related party.  The lessee's Chief Executive Officer is on our Board of Directors.  See Note 9. Transactions with Related Party for further discussion.</td>
            </tr>
            <tr class="outerFootnote">
              <td style="vertical-align: top;" valign="top">[2]</td>
              <td style="vertical-align: top;" valign="top">During the three months ended March 31, 2013 and 2012, we recognized $0 and $180 of interest income from 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.</td>
            </tr>
          </table>
        </td>
      </tr>
    </table>
    <div style="display: none;">
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This item represents interest earned from investments in marketable securities and on cash and cash equivalents, income or expense derived from the amortization of investment related discounts or premiums, respectively, net of related investment expenses and various other miscellaneous revenue items not related to operating revenue. This item does not include realized or unrealized gains or losses on the sale or holding of investments in debt and equity securities required to be included in earnings for the period or for other than temporary losses related to investments in debt and equity securities which are included in realized losses in the period recognized, and does not include investment income from real or personal property, such as rental income.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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                    <td>ltc_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          </td>
        </tr>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total costs of sales and operating expenses for the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CostsAndExpenses</nobr></td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
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          </td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostsAndExpensesAbstract">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CostsAndExpensesAbstract</nobr></td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 5<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DepreciationAndAmortization</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of gain (loss), after tax expense or benefit and not previously recognized, resulting from the sale of a business component.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 144<br><br> -Paragraph 47<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e957-107759<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 144<br><br> -Paragraph 43<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          </td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasic">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 21<br><br> -Article 9<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 36, 37, 38<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-04.23)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.21)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 07-4<br><br> -Paragraph 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 52<br><br> -URI http://asc.fasb.org/extlink&amp;oid=16381557&amp;loc=d3e4984-109258<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 18<br><br> -Article 7<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 20<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EarningsPerShareBasic</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasicAbstract">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EarningsPerShareBasicAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDiluted">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 18<br><br> -Article 7<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 11, 12, 36<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 07-4<br><br> -Paragraph 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 20<br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.21)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 21<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EarningsPerShareDiluted</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EarningsPerShareDilutedAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GeneralAndAdministrativeExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GeneralAndAdministrativeExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, and noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 29<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsPerBasicShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.21)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 36, 37, 38<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 07-4<br><br> -Paragraph 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-04.23)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 20<br><br> -Article 5<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 18<br><br> -Article 7<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 21<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromContinuingOperationsPerBasicShare</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 21<br><br> -Article 9<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 07-4<br><br> -Paragraph 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.21)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 11, 12, 36, 37, 38<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 40<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 18<br><br> -Article 7<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 20<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
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          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 13<br><br> -Article 7<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e957-107759<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 144<br><br> -Paragraph 47<br><br> -Subparagraph c<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 15<br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 29<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.14)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 144<br><br> -Paragraph 43<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.12)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAbstract</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income (loss) derived from discontinued operations during the period, net of related tax effect, per each share of common stock or unit outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-04.23)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.21)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 18<br><br> -Article 7<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 8, 9, 10, 36, 37, 38<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 07-4<br><br> -Paragraph 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1278-109256<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 21<br><br> -Article 9<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 20<br><br> -Article 5<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income or loss derived from discontinued operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 07-4<br><br> -Paragraph 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1278-109256<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 5<br><br> -Section E<br><br> -Paragraph Question 3<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
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              </div>
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          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestAndFeeIncomeLoansCommercial">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Interest and fee income related to commercial loans including industrial and agricultural, real estate (commercial and residential, construction and development), trade financing, and lease financing.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-04.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 1<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InterestAndFeeIncomeLoansCommercial</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cost of borrowed funds accounted for as interest that was charged against earnings during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 9<br><br> -Article 9<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher OTS<br><br> -Name Federal Regulation (FR)<br><br> -Number Title 12<br><br> -Section 563c.102<br><br> -Paragraph 9<br><br> -Chapter V<br><br> -Subsection II<br><br> -LegacyDoc This is a non-GAAP reference that was included in the 2009 taxonomy.  It will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 34<br><br> -Paragraph 21<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 835<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-04.9)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InterestExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 19<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 130<br><br> -Paragraph 10, 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 20<br><br> -Article 9<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 87-21<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28, 29, 30<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=20435746&amp;loc=d3e565-108580<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A7<br><br> -Appendix A<br><br><br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 16: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of Net Income (Loss) attributable to noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4J<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733213&amp;loc=SL4591551-111686<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A1, A4, A5<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(1)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLossAttributableToNoncontrollingInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
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              </div>
            </div>
          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1377-109256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 9<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesIncomeStatementLeaseRevenue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue and sublease revenue.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 13<br><br> -Paragraph 19<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 840<br><br> -SubTopic 20<br><br> -Section 25<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7501430&amp;loc=d3e39896-112707<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OperatingLeasesIncomeStatementLeaseRevenue</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td><strong> Period Type:</strong></td>
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          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockDividendsAndOtherAdjustments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate value of preferred stock dividends and other adjustments necessary to derive net income apportioned to common stockholders.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1377-109256<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PreferredStockDividendsAndOtherAdjustments</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A1, A4, A5<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 29<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 5<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733213&amp;loc=SL4591552-111686<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -Subparagraph (a),(c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(1)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4J<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733213&amp;loc=SL4591551-111686<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProfitLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Revenues">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
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<p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">4.</font></b><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></b> <b><font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt" size="2">Marketable Securities</font></b></p>
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<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">During 2012, Skilled Healthcare Group,&#160;Inc. (or SHG) redeemed all of their outstanding Senior Subordinated Notes at par value plus accrued and unpaid interest up to the redemption date. The SHG Senior Subordinated Notes had a face rate of 11.0% and an effective yield of 11.1%. During the three months ended March&#160;31, 2012, we recognized $180,000 of interest income from our $6,500,000 investment in SHG Senior Subordinated Notes. One of our board members is the chief executive officer of SHG. See <i>Note 9. Transactions with Related Party</i> for further discussion.</font></p>
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<p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">3.</font></b><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></b> <b><font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt" size="2">Notes Receivable</font></b></p>
<p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">Notes receivables consist of various loans and line of credit agreements with certain operators. During the three months ended March&#160;31, 2013 and 2012, we received $114,000 and $191,000, respectively, in principal payments and we funded $63,000 and $1,034,000, respectively, under these notes. At March&#160;31, 2013, we had two term loans outstanding with a carrying value of $2,920,000 at a weighted average interest of 8.6%. Also at March&#160;31, 2013, we committed to provide $1,525,000 under six loans and line of credit agreements to certain operators. As of March&#160;31, 2013, we funded $209,000 under these commitments and have a remaining commitment of $1,316,000. In April&#160;2013, we funded $60,000 under these commitments. Accordingly, we have a remaining commitment of $1,256,000. These loans and line of credit commitments have interest ranging from 9.0% to 12.0% and maturities ranging from 2013 to 2014.</font></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(k))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 3, 4<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7512638&amp;loc=d3e5074-111524<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7512638&amp;loc=d3e5162-111524<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.3,4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph k<br><br> -Article 4<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Statement of Position (SOP)<br><br> -Number 01-6<br><br> -Paragraph 13<br><br> -Subparagraph d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7512638&amp;loc=d3e5066-111524<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 7<br><br> -Article 9<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>Earnings per Share (Tables)<br></strong></div>
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        <th class="th" colspan="1">3 Months Ended</th>
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          <div>Mar. 31, 2013</div>
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<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">The following table sets forth the computation of basic and diluted net income per share (<i>in thousands, except per share amounts</i>):</font></p>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Three&#160;Months&#160;Ended<br />
March&#160;31,</font></p></td>
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<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">2013</font></p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">2012</font></p></td>
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<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
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<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Income from continuing operations</font></p></td>
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<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
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<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$12,976</font></p></td>
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<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
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<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$12,916</font></p></td>
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<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
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<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt">&#160;</p></td>
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<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Less net income allocated to non-controlling interests</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(11)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Less net income allocated to participating securities:</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;Nonforfeitable dividends on participating securities</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(98)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(94)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Total net income allocated to participating securities</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(98)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(94)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Less net income allocated to preferred stockholders:</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;Preferred stock dividends</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(818)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(818)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Total net income allocated to preferred stockholders</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(818)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(818)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Income from continuing operations available to common stockholders</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">12,060</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">11,993</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Discontinued operations:</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;Gain on sale of assets, net</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">16</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Total net income from discontinued operations</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">16</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Net income available to common stockholders</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">12,060</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">12,009</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Effect of dilutive securities:</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Convertible preferred securities</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Net income for diluted net income per share</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$12,060</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$12,009</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Shares for basic net income per share</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">30,365</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">30,189</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Effect of dilutive securities:</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Stock options</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.18%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">34</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.46%; PADDING-TOP: 0in" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">45</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
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<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
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<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Shares for diluted net income per share</font></p></td>
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<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">30,399</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
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<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">30,234</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="bottom" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Basic net income per share</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$0.40</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$0.40</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 62.84%; PADDING-TOP: 0in" valign="top" width="62%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Diluted net income per share</font> <font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1">(1)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.14%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.18%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$0.40</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.62%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 4.38%; PADDING-TOP: 0in" valign="bottom" width="4%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.46%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%">
<p style="MARGIN: 0in 2.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$0.40</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.36%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr></table>
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<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">In accordance with the accounting guidance regarding the fair value option for financial assets and financial liabilities, entities are permitted to choose to measure certain financial assets and liabilities at fair value, with the change in unrealized gains and losses reported in earnings.&#160; We did not adopt the elective fair market value option for our financial assets and financial liabilities.</font></p>
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<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">The carrying amount of cash and cash equivalents approximates fair value because of the short-term maturity of these instruments.&#160; We do not invest our cash in auction rate securities.&#160; The carrying value and fair value of our financial instruments as of March&#160;31, 2013 and December&#160;31, 2012 assuming election of fair value for our financial assets and financial liabilities were as follows (<i>in thousands</i>):</font></p>
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<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">At March&#160;31, 2013</font></p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">At December&#160;31, 2012</font></p></td></tr>
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<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
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Value</font></p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Fair<br />
Value</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.16%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="14%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Carrying<br />
Value</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.94%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 17.66%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="17%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Fair<br />
Value</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 28.08%; PADDING-TOP: 0in" valign="bottom" width="28%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Mortgage loans receivable</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.16%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="14%">
<p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$39,741</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.96%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.16%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="14%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$45,060</font><font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1">(1)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.16%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="14%">
<p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$39,299</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 17.66%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="17%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$44,939</font><font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1">(1)</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 28.08%; PADDING-TOP: 0in" valign="bottom" width="28%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Bonds payable</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%">
<p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">2,035</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.96%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">2,035</font><font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1">(2)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%">
<p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">2,635</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 17.66%; PADDING-TOP: 0in" valign="bottom" width="17%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">2,635</font><font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1">(2)</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 28.08%; PADDING-TOP: 0in" valign="bottom" width="28%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Bank borrowings</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%">
<p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">117,500</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.96%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">117,500</font><font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1">(2)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%">
<p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">115,500</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 17.66%; PADDING-TOP: 0in" valign="bottom" width="17%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">115,500</font><font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1">(2)</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 28.08%; PADDING-TOP: 0in" valign="bottom" width="28%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Senior unsecured notes</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%">
<p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">185,800</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.96%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">194,475</font><font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1">(3)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%">
<p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">185,800</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 17.66%; PADDING-TOP: 0in" valign="bottom" width="17%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">194,838</font><font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1">(3)</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 28.08%; PADDING-TOP: 0in" valign="bottom" width="28%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Contingent liabilities</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%">
<p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">6,854</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.96%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">6,854</font><font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1">(4)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.16%; PADDING-TOP: 0in" valign="bottom" width="14%">
<p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">6,744</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.94%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 17.66%; PADDING-TOP: 0in" valign="bottom" width="17%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">6,744</font><font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1">(4)</font></p></td></tr></table>
<p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">_____________</font></p>
<p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">(1)</font><font style="FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> <font style="FONT-SIZE: 9pt" size="1">Our investment in mortgage loans receivable is classified as Level 3.&#160; The fair value is determined using a widely accepted valuation technique, discounted cash flow analysis on the expected cash flows.&#160; The discount rate is determined using our assumption on market conditions adjusted for market and credit risk and current returns on our investments.&#160; The discount rate used to value our future cash inflows of the mortgage loans receivable at March&#160;31, 2013 and December&#160;31, 2012 was 6.0%.</font></p>
<p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 5pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">(2)</font><font style="FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> <font style="FONT-SIZE: 9pt" size="1">Our bonds payable and bank borrowings are at a variable interest rate.&#160; The estimated fair value of our bonds payable and bank borrowings approximated their carrying values at March&#160;31, 2013 and December&#160;31, 2012 based upon prevailing market interest rates for similar debt arrangements.</font></p>
<p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 5pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">(3)</font><font style="FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> <font style="FONT-SIZE: 9pt" size="1">Our obligation under our senior unsecured notes is classified as Level 3 and thus the fair value is determined using a widely accepted valuation technique, discounted cash flow analysis on the expected cash flows.&#160; The discount rate is measured based upon management&#8217;s estimates of rates currently prevailing for comparable loans available to us, and instruments of comparable maturities.&#160; At March&#160;31, 2013 and December&#160;31, 2012,&#160; the discount rate used to value our future cash outflow of our senior unsecured notes was 3.8% for those maturing before year 2019 and 4.3% for those maturing through year 2021.</font></p>
<p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 5pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">(4)</font><font style="FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> <font style="FONT-SIZE: 9pt" size="1">Our contingent obligation under the earn-out liabilities is classified as Level 3. We estimated the fair value of the contingent earn-out payments using a discounted cash flow analysis. The discount rate that we use consists of a risk-free U.S. Treasury rate plus a company specific credit spread which we believe is acceptable by willing market participants.&#160; At March&#160;31, 2013 and December&#160;31, 2012, the discount rate used to value our future cash outflow of the earn-out liability was 6.5% and 6.6%, respectively.</font></p>
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></div>
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                <p>The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7491637&amp;loc=d3e13504-108611<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 107<br><br> -Paragraph 15C, 15D<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 133<br><br> -Paragraph 44A, 44B<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 107<br><br> -Paragraph 15A<br><br> -Subparagraph a-d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  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<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">As part of an acquisition in 2011, we committed to provide a contingent payment if certain operational thresholds are met.&#160; The contingent payment was recorded at fair value, which was estimated using a discounted cash flow analysis, and we are accreting the contingent liability to the estimated settlement amount as of the payment date.&#160; The fair value of such contingent liability is re-evaluated on a quarterly basis based on changes in estimates of future operating results and changes in market discount rates. Any changes in estimated fair value are recognized in our results of operations. During&#160; the three months ended March&#160;31, 2013 and 2012, we recorded non-cash interest expense of $110,000 related to the contingent liability. At March&#160;31, 2013 and December&#160;31, 2012, the contingent liability had a carrying value of $6,854,000 and $6,744,000, respectively.</font></p>
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<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">At March&#160;31, 2013, we had outstanding commitments totaling $77,571,000 to develop, re-develop, renovate or expand six skilled nursing properties with a total of 785 beds, a memory care property with 60 units, an independent living property with 140 units, two assisted living and memory care combination properties with a total of 158 units, and three assisted living properties with a total of 136 units.&#160; We also have a commitment to provide, under certain conditions, up to $5,000,000 per year through December&#160;2014 to an existing operator for expansion of the 37 properties they lease from us.&#160; See <i>Note 2. Real Estate Investments</i> for further discussion of these commitments. Additionally at March&#160;31, 2013, we had a $10,600,000 mortgage and construction commitment. As of March&#160;31, 2013, we funded $3,530,000 under this commitment and have a remaining commitment of $7,070,000. See <i>Note 2. Real Estate Investments</i> for further discussion of this mortgage and construction loan.&#160; We also committed to provide $1,525,000 in loan and line of credit agreements to certain operators. As of March&#160;31, 2013, we had funded $209,000 under these commitments and have a remaining commitment of $1,316,000. See <i>Note 3. Notes Receivables</i> for further discussion of these commitments.</font></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for commitments and contingencies.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 460<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6398077&amp;loc=d3e12565-110249<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 450<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6952336&amp;loc=d3e14435-108349<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name FASB Interpretation (FIN)<br><br> -Number 14<br><br> -Paragraph 3<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 440<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6394976&amp;loc=d3e25287-109308<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.25)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6449706&amp;loc=d3e16207-108621<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 5<br><br> -Paragraph 9, 10, 11, 12<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
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<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><i><font style="FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="2">Bonds Payable</font></i><font style="FONT-SIZE: 11pt" size="2">.&#160; At March&#160;31, 2013 and December&#160;31, 2012, we had outstanding principal of $2,035,000 and $2,635,000 respectively, on multifamily tax-exempt revenue bonds that are secured by five assisted living properties in Washington. &#160;These bonds bear interest at a variable rate that is reset weekly and mature during 2015.&#160; For the three months ended March&#160;31, 2013, the weighted average interest rate, including letter of credit fees, on the outstanding bonds was 2.9%.&#160; During the three months ended March&#160;31, 2013 and 2012, we paid $600,000 and $565,000, respectively, in regularly scheduled principal payments.&#160; As of March&#160;31, 2013 and December&#160;31, 2012, the aggregate carrying value of real estate properties securing our bonds payable was $6,584,000 and $6,650,000, respectively.</font></p>
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                <p>The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.</p>
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                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19,20,22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19, 20, 22<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 2, 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>Equity<br></strong></div>
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        <th class="th" colspan="1">3 Months Ended</th>
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<p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">6.</font></b><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></b> <b><font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt" size="2">Equity</font></b></p>
<p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">Equity is allocated between controlling and non-controlling interests as follows <i>(in thousands)</i>:</font></p>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">LTC<br />
Properties,&#160;Inc.<br />
Stockholders&#8217;<br />
Equity</font></p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Non-controlling<br />
Interest</font></p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Total<br />
Equity</font></p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
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<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Balance at December&#160;31, 2012</font></p></td>
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<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
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<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
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<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
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<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
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<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Net income</font></p></td>
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<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">12,976</font></p></td>
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<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">12,976</font></p></td>
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<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
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<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 47.96%; PADDING-TOP: 0in" valign="bottom" width="47%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Issue common stock</font></p></td>
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<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">4,293</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">4,293</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.48%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
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<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Vested restricted common stock</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">985</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">985</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.48%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
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<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Stock option exercise</font></p></td>
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<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">523</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.82%; PADDING-TOP: 0in" valign="bottom" width="15%">
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">523</font></p></td>
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<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Reclassification adjustment</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
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<p style="MARGIN: 0in 15.1pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(9)</font></p></td>
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<p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(9</font></p></td>
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<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Non-controlling interest preferred return</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
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<p style="MARGIN: 0in 20.9pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(7)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(7</font></p></td>
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<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Preferred stock dividends</font></p></td>
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<p style="MARGIN: 0in 15.1pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(818)</font></p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(818</font></p></td>
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<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">)</font></p></td></tr>
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<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Common stock dividends</font></p></td>
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<p style="MARGIN: 0in 15.1pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(14,217)</font></p></td>
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<p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(14,217</font></p></td>
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<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Other</font></p></td>
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<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
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<p style="MARGIN: 0in 15.1pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(23)</font></p></td>
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<p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
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<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(23</font></p></td>
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<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">)</font></p></td></tr>
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<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Balance at March&#160;31, 2013</font></p></td>
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<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.82%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$466,811</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.82%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="15%">
<p style="MARGIN: 0in 23.75pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.64%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$466,811</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.48%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr></table>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><i><font style="FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="2">Preferred Stock.</font></i><font style="FONT-SIZE: 11pt" size="2">&#160; At March&#160;31, 2013, we had 2,000,000 shares of our 8.5% Series&#160;C Cumulative Convertible Preferred Stock (or Series&#160;C preferred stock) outstanding.&#160; Our Series&#160;C preferred stock is convertible into 2,000,000 shares of our common stock at $19.25 per share.&#160; Total shares reserved for issuance of common stock related to the conversion of Series&#160;C preferred stock were 2,000,000 shares at March&#160;31, 2013.</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><i><font style="FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="2">Common Stock.&#160;</font></i> <font style="FONT-SIZE: 11pt" size="2">During the three months ended March&#160;31, 2013, we acquired 600 shares of common stock held by employees who tendered owned shares to satisfy tax withholding obligations. We have an equity distribution agreement which allows us to issue and sell, from time to time, up to $85,686,000 in aggregate offering price of our common shares.&#160; Sales of common shares are made by means of ordinary brokers&#8217; transactions at market prices, in block transactions, or as otherwise agreed between us and our sales agents.&#160; During the three months ended March&#160;31, 2012, we did not sell shares of our common stock under our equity distribution agreement. During the three months ended March&#160;31, 2013, we sold 126,742 shares of common stock for $4,895,000 in net proceeds under our equity distribution agreement. In conjunction with the sale of common stock, we reclassified $602,000 of accumulated costs associated with the equity distribution agreement to additional paid in capital. At March&#160;31, 2013, we had $59,578,000 available under this amended equity distribution agreement. Depending upon market conditions, we anticipate issuing securities under our registration statements to invest in additional properties and to repay borrowings under our unsecured line of credit.</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><i><font style="FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="2">Available Shelf Registrations.&#160;</font></i> <font style="FONT-SIZE: 11pt" size="2">Our shelf registration statement provides us with the capacity to offer up to $400,000,000 in common stock, preferred stock, warrants, debt, depositary shares, or units.&#160; We may from time to time raise capital under our current shelf registration in amounts, at prices, and on terms to be announced when and if the securities are offered. The specifics of any future offerings, along with the use of proceeds of any securities offered, will be described in detail in a prospectus supplement, or other offering materials, at the time of the offering. At March&#160;31, 2013, we had availability of $167,614,000 under our effective shelf registration.</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><i><font style="FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="2">Non-controlling Interests</font></i><font style="FONT-SIZE: 11pt" size="2">. We currently have no limited partners. During 2012, we had one limited partnership. The limited partnership agreement allowed the limited partners to convert, on a one-for-one basis, their limited partnership units into shares of common stock or the cash equivalent, at our option. Since we exercised control, we consolidated the limited partnership and we carried the non-controlling interests at cost.</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">During 2012, two of our limited partners exercised their conversion rights to exchange all of their 112,588 partnership units. At our discretion, we converted 23,294 partnership units into an equal number of our common shares.&#160; The partnership conversion price was $17.00 per partnership unit.&#160; At our discretion, we elected to satisfy the conversion of 89,294 limited partnership units with cash.&#160; We paid the limited partners $2,764,000, which represents the closing price of our common stock on the redemption date plus $0.05 per share multiplied by the number of limited partnership units redeemed.&#160; The amount we paid upon redemption exceeded the book value of the limited partnership interest redeemed by $1,246,000. Accordingly, the $1,246,000 excess book value of the limited partners&#8217; interest in the partnership was reclassified to stockholders&#8217; equity. We accounted for these conversions as an equity transaction because there was no change in control requiring consolidation or deconsolidation and remeasurement. Subsequent to these partnership conversions, the assets held by the limited partnership were transferred to other subsidiaries of the Company and the limited partnership was terminated.</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">The following table represents the change from net income attributable to us and transfers from non-controlling interest <i>(in thousands):</i></font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><i><font style="FONT-SIZE: 11.5pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="3">&#160;</font></i></p>
<table style="MARGIN-LEFT: 0.5in; WIDTH: 86.66%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="86%" border="0">
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 68.26%; PADDING-TOP: 0in" valign="bottom" width="68%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 25.96%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="25%" colspan="3">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Three&#160;months&#160;ended<br />
&#160;March&#160;31,</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.88%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 68.26%; PADDING-TOP: 0in" valign="bottom" width="68%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">2013</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.88%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">2012</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.88%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 68.26%; PADDING-TOP: 0in" valign="bottom" width="68%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Net income attributable to LTC Properties,&#160;Inc.</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%">
<p style="MARGIN: 0in 15.85pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$12,976</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$12,921</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 68.26%; PADDING-TOP: 0in" valign="bottom" width="68%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Transfers from the non-controlling interest</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11.54%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 15.85pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11.54%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 68.26%; PADDING-TOP: 0in" valign="bottom" width="68%">
<p style="MARGIN: 0in 0in 0pt 20pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Decrease in paid-in capital for limited partners conversion</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 15.85pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 11.5pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">(1,246)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 68.26%; PADDING-TOP: 0in" valign="bottom" width="68%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Change from net income attributable to LTC Properties,&#160;Inc. and transfers from non-controlling interest</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%">
<p style="MARGIN: 0in 15.85pt 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$12,976</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$11,675</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.88%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr></table>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><i><font style="FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="2">Distributions.</font></i> <font style="FONT-SIZE: 11pt" size="2">We declared and paid the following cash dividends <i>(in thousands)</i>:</font></p>
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<table style="MARGIN-LEFT: 0.25in; WIDTH: 93.34%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="93%" border="0">
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 32.14%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="32%" colspan="3">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Three&#160;months&#160;ended&#160;March&#160;31,&#160;2013</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 32.14%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="32%" colspan="3">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Three&#160;months&#160;ended&#160;March&#160;31,&#160;2012</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Declared</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Paid</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Declared</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 2.14%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Paid</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Preferred Stock</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%">
<p style="MARGIN: 0in 0in 0pt 30pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Series&#160;C</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$&#160;&#160;&#160;&#160;&#160;818</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$&#160;&#160;&#160;&#160;&#160;818</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$&#160;&#160;&#160;&#160;&#160;818</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$&#160;&#160;&#160;&#160;&#160;818</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Total Preferred</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">818</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">818</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">818</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">818</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15%; PADDING-TOP: 0in" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Common Stock <font style="POSITION: relative; TOP: -3pt">(1)</font></font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">14,217</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">14,217</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">13,226</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">13,226</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.08%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.36%; PADDING-TOP: 0in" valign="bottom" width="30%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Total</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$15,035</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.14%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
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<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$15,035</font></p></td>
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<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$14,044</font></p></td>
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<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="15%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$14,044</font></p></td>
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<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr></table>
<p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt 0.75in; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">(1)</font><font style="FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> <font style="FONT-SIZE: 9pt" size="1">Represents $0.155 per share per month and $0.145 per share per month for the three months ended March&#160;31, 2013 and 2012, respectively.</font></p>
<p style="MARGIN: 0in 0in 0pt 0.75in; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">In April&#160;2013, we declared a monthly cash dividend of $0.155 per share on our common stock for the months of April, May&#160;and June&#160;2013, payable on April&#160;30, May&#160;31 and June&#160;28, 2013, respectively, to stockholders of record on April&#160;22, May&#160;23 and June&#160;20, 2013, respectively.</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><i><font style="FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="2">Other Equity.</font></i><font style="FONT-SIZE: 11pt" size="2">&#160; At March&#160;31, 2013 and December&#160;31, 2012, other equity consisted of accumulated comprehensive income of $143,000 and $152,000, respectively.&#160; This balance represents the net unrealized holding gains on available-for-sale REMIC Certificates recorded in 2005 when we repurchased the loans in the underlying loan pool.&#160; This amount is being amortized to increase interest income over the remaining life of the loans that we repurchased from the REMIC Pool.</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><i><font style="FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="2">Stock-Based Compensation</font></i><font style="FONT-SIZE: 11pt" size="2">.&#160; During the three months ended March&#160;31, 2013, a total of 22,000 stock options were exercised at a total option value of $523,000 and a total market value on the date of exercise of $865,000. During the three months ended March&#160;31, 2012, a total of 10,000 stock options were exercised at a total option value of $151,000 and a total market value on the date of exercise of $305,000. No stock options were issued during the three months ended March&#160;31, 2013 and 2012. At March&#160;31, 2013, we had 73,334 stock options outstanding and all stock options are exercisable.&#160; Compensation expense related to the vesting of stock options for the three months ended March&#160;31, 2012 was $4,000.</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">During the three months ended March, 31, 2013, we granted 20,000 shares of restricted common stock at $36.26 per share. These shares all vest on June&#160;1, 2016. Also during the three months ended March&#160;31, 2013, we accelerated the vesting of 18,180 shares of restricted common stock due to the retirement of our Senior Vice President, Marketing and Strategic Planning. Accordingly, we recorded $457,000 of compensation expense related to the accelerated vesting. During the three months ended March, 31, 2012, we granted 56,200 shares of restricted common stock at $31.77 per share. The vesting of these shares are as follows: 14,000 shares vest ratably over a five-year period from the grant date, 30,000 shares all vest on June&#160;15, 2015, and 12,200 shares all vest on January&#160;10, 2016. During the three months ended March&#160;31, 2013 and 2012, we recognized $985,000 and $448,000, respectively, of compensation expense related to the vesting of restricted common stock.</font></p>
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></div>
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                <p>The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable).  Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.</p>
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<p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">8.</font></b><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></b> <b><font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt" size="2">Major Operators</font></b></p>
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<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">We have three operators from each of which we derive over 10% of our rental revenue and interest income from mortgage loans.</font></p>
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<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">In 2006, Extendicare Services,&#160;Inc. (or EHSI), one of our major operators, effected a reorganization whereby it completed a spin-off of Assisted Living Concepts,&#160;Inc. (or ALC).&#160; ALC is currently a NYSE traded public company operating assisted living centers. The remaining EHSI assets and operations were converted into a Canadian REIT (Extendicare REIT) listed on the Toronto Stock Exchange (or TSX).&#160; During 2012, Extendicare REIT converted from an income trust structure to a corporate structure under a corporation named Extendicare,&#160;Inc. (or Extendicare). Both Extendicare and ALC continue to be parties to the leases with us.</font></p>
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<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">On February&#160;25, 2013, ALC entered into an Agreement and Plan of Merger (or the Merger Agreement) with Aid Holdings, LLC, a Delaware limited liability company (or Aid Holdings), and Aid Merger Sub, LLC, a Delaware limited liability company and a wholly owned subsidiary of Aid Holdings (or Aid Merger Sub), providing for the merger of Aid Merger Sub with and into ALC (or the Merger), with ALC surviving the Merger as a wholly-owned subsidiary of Aid Holdings. Aid Holdings and Aid Merger Sub are affiliates of TPG Capital, L.P. Documents publicly available contemplate the merger being completed in summer of 2013.</font></p>
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<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">Extendicare REIT and ALC collectively lease 37 assisted living properties with a total of 1,430 units owned by us representing approximately 6.7%, or $52,877,000, of our total assets at March&#160;31, 2013 and 10.7% of rental revenue and interest income from mortgage loans recognized as of March&#160;31, 2013.</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">Brookdale Senior Living Communities,&#160;Inc. (or Brookdale Communities) is a wholly owned subsidiary of a publicly traded company, Brookdale Senior Living,&#160;Inc. (or Brookdale). Brookdale Communities leases 35 assisted living properties with a total of 1,414 units owned by us representing approximately 6.7%, or $53,038,000, of our total assets at March&#160;31, 2013 and 10.7% of rental revenue and interest income from mortgage loans recognized as of March&#160;31, 2013.</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">Preferred Care,&#160;Inc. (or Preferred Care), through various wholly owned subsidiaries, operates 27 skilled nursing properties and two range of care properties that we own or on which we hold mortgages secured by first trust deeds.&#160; These properties consist of a total of 3,354 skilled nursing beds and 49 assisted living units. This represents approximately 6.6%, or $51,945,000, of our total assets at March&#160;31, 2013 and 10.5% of rental revenue and interest income from mortgage loans recognized as of March&#160;31, 2013. They also operate one skilled nursing property under a sub-lease with another lessee we have which is not included in the Preferred Care rental revenue and interest income from mortgage loans.</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">Our financial position and ability to make distributions may be adversely affected by financial difficulties experienced by Brookdale Communities, Extendicare, ALC, Preferred Care, or any of our lessees and borrowers, including any bankruptcies, inability to emerge from bankruptcy, insolvency or general downturn in business of any such operator, or in the event any such operator does not renew and/or extend its relationship with us or our borrowers when it expires.</font></p>
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></div>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EZHBG">
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          <div style="width: 200px;"><strong>Equity (Details 3) (USD $)<br></strong></div>
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      <tr>
        <th class="th">
          <div>Mar. 31, 2013</div>
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          <div>Mar. 31, 2012</div>
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          <div class="a">Stock Options</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Stock Based Compensation Plans</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Number of shares exercised</a></td>
        <td class="nump">22,000<span></span></td>
        <td class="nump">10,000<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodOptionValue', window );">Value of options exercised</a></td>
        <td class="nump">$ 523,000<span></span></td>
        <td class="nump">$ 151,000<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodMarketValue', window );">Market value on the date of exercise</a></td>
        <td class="nump">865,000<span></span></td>
        <td class="nump">305,000<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Options outstanding at end of the period (in shares)</a></td>
        <td class="nump">73,334<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Stock options issued (in shares)</a></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="nump">4,000<span></span></td>
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          <div class="a">Restricted stock</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Stock Based Compensation Plans</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Compensation expense</a></td>
        <td class="nump">985,000<span></span></td>
        <td class="nump">448,000<span></span></td>
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        <td class="nump">18,180<span></span></td>
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        <td class="nump">$ 457,000<span></span></td>
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          <div class="a">Restricted stock | $ 36.26 per share | Vesting on June 1, 2016</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Stock Based Compensation Plans</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Number of shares granted</a></td>
        <td class="nump">20,000<span></span></td>
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        <td class="nump">$ 36.26<span></span></td>
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          <div class="a">Restricted stock | $ 31.77 per share</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Stock Based Compensation Plans</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 31.77<span></span></td>
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          <div class="a">Restricted stock | $ 31.77 per share | Vesting on June 15, 2015</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Stock Based Compensation Plans</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Vested (in shares)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">30,000<span></span></td>
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          <div class="a">Restricted stock | $ 31.77 per share | Vesting on January 10, 2016</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Stock Based Compensation Plans</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Vested (in shares)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">12,200<span></span></td>
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          <div class="a">Restricted stock | $ 31.77 per share | Vesting ratably over five-year period from the grant date</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Stock Based Compensation Plans</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Vested (in shares)</a></td>
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        <td class="nump">14,000<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">5 years<span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the additional number of equity based payment instruments excluding stock (or unit) options that vested as a result of an occurrence of an event that accelerates its recognition during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
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                <p>Represents the market value as of the exercise date of the common shares purchased during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                <p>Represents the option value of the share options (or share units) exercised during the current period.</p>
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                <p>No definition available.</p>
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                    <td>instant</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_ShareBasedCompensationArrangementByShareBasedPaymentAwardPricePerShareAtGrantDate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the price of common stock at grant date used for awards under the share-based compensation plan.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_ShareBasedCompensationArrangementByShareBasedPaymentAwardPricePerShareAtGrantDate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllocatedShareBasedCompensationExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (h)(1)(i)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 123R<br><br> -Paragraph A240<br><br> -Subparagraph g(1)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 14<br><br> -Section F<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 123R<br><br> -Paragraph 64<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 14.F)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6793087&amp;loc=d3e301413-122809<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AllocatedShareBasedCompensationExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Additional share-based compensation cost recognized as a result of an occurrence of an event that accelerates its recognition.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Period which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (a)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:durationItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(2)(iii)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 123R<br><br> -Paragraph A240<br><br> -Subparagraph b(2)(c)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(2)(iii)(2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 123R<br><br> -Paragraph A240<br><br> -Subparagraph b(2)(d)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Gross number of share options (or share units) granted during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The number of shares reserved for issuance under stock option agreements awarded under the plan that validly exist and are outstanding as of the balance sheet date, including vested options.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 123R<br><br> -Paragraph A240<br><br> -Subparagraph b(1)(b)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(i)-(ii)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 123R<br><br> -Paragraph A240<br><br> -Subparagraph b(1)(a)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of share options (or share units) exercised during the current period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28,29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(iv)(2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EKH">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Real Estate Investments (Tables)<br></strong></div>
        </th>
        <th class="th" colspan="1">3 Months Ended</th>
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      <tr>
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          <div>Mar. 31, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAbstract', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock', window );">Summary of investments in owned properties</a></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt" size="2">The following table summarizes our investments in owned properties at March&#160;31, 2013 <i>(dollar amounts in thousands)</i>:</font></p>
<p style="MARGIN: 0in 0in 0pt">&#160;</p>
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<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Number</font></p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Number&#160;of</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Investment<br />
per<br />
Bed/Unit</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td></tr>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Type&#160;of&#160;Property</font></p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Gross<br />
Investments</font></p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Percentage&#160;of<br />
Investments</font></p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">of<br />
Properties</font> <font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1">(1)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">SNF<br />
Beds</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.5%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">ALF<br />
Units</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.5%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 24.5%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="24%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Skilled Nursing</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$448,010</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.5%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">49.4%</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">73</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">8,435</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="10%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$53.11</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 24.5%; PADDING-TOP: 0in" valign="bottom" width="24%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Assisted Living</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">379,874</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11.5%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">41.9%</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">96</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">4,502</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$84.38</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 24.5%; PADDING-TOP: 0in" valign="bottom" width="24%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Range of Care</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">43,907</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 11.5%; PADDING-TOP: 0in" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">4.8%</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">8</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">634</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">274</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$48.36</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 24.5%; PADDING-TOP: 0in" valign="bottom" width="24%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Under Development</font> <font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1">(2)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">22,347</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11.5%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">2.5%</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 24.5%; PADDING-TOP: 0in" valign="bottom" width="24%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Schools</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">12,444</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">1.4%</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">2</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 24.5%; PADDING-TOP: 0in" valign="bottom" width="24%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Totals</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$906,582</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">100.0%</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">179</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">9,069</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="10%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">4,776</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr></table>
<p style="MARGIN: 0in 0in 0pt 13.5pt">&#160;</p>
<p style="MARGIN: 0in 0in 0pt 31.5pt; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1">(1)</font><font style="FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> <font style="FONT-SIZE: 8pt" size="1">We have investments in 26 states leased to 35 different operators.</font></p>
<p style="MARGIN: 0in 0in 0pt 31.5pt; TEXT-INDENT: -0.25in">&#160;</p>
<p style="MARGIN: 0in 0in 0pt 31.5pt; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1">(2)</font><font style="FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> <font style="FONT-SIZE: 8pt" size="1">Includes a MC development with 60 units and two combination ALF and MC developments with a total of 158 units, a 143-bed SNF development and a 120-bed SNF redevelopment project.</font></p>
<p style="MARGIN: 0in 0in 0pt 31.5pt; TEXT-INDENT: -0.25in">&#160;</p></div>
<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_ScheduleOfInvestmentCommitmentsTableTextBlock', window );">Schedule of investment commitments</a></td>
        <td class="text"><div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">In addition, the following table summarizes our investment commitments as of March&#160;31, 2013, excluding the $5,000,000 per year commitment, and year to date funding on our development, redevelopment, renovation and expansion projects <i>(excludes capitalized interest, dollar amounts in thousands)</i>:</font></p>
<p style="MARGIN: 0in 0in 0pt">&#160;</p>
<table style="MARGIN-LEFT: 0.5in; WIDTH: 655px; BORDER-COLLAPSE: collapse; HEIGHT: 85px" cellspacing="0" cellpadding="0" width="655" border="0">
<tr style="HEIGHT: 0px">
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.76%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">Type&#160;of&#160;Property</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">Investment<br />
Commitment</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">2013<br />
Funding&#160;</font><font style="FONT-SIZE: 6pt; POSITION: relative; TOP: -2pt" size="1">(2)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">Commitment<br />
Funded</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">Remaining<br />
Commitment</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">Number&#160;of<br />
Properties</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">Number&#160;of<br />
Beds/Units</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.16%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.76%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="15%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">Skilled Nursing</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">$36,644</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">$2,313</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">$11,418</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">$25,226</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">&#160;6</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">&#160;&#160;785</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.16%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.76%; PADDING-TOP: 0in" valign="top" width="15%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">Assisted Living</font> <font style="FONT-SIZE: 6pt; POSITION: relative; TOP: -2pt" size="1">(1)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">&#160;40,927</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">&#160;3,880</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">&#160;12,122</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">&#160;28,805</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">&#160;7</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">&#160;&#160;494</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.16%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.76%; PADDING-TOP: 0in" valign="top" width="15%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">Totals</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">$77,571</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">&#160;&#160;&#160;$6,193&#160;</font><font style="FONT-SIZE: 6pt; POSITION: relative; TOP: -2pt" size="1">(3)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">$23,540</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">$54,031</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">13</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">1,279</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.16%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr></table>
<p style="MARGIN: 0in 0in 0pt 45pt">&#160;</p>
<p style="MARGIN: 0in 0in 0pt 63pt; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1">(1)</font><font style="FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> <font style="FONT-SIZE: 8pt" size="1">Includes the development of a 60-unit memory care property for $9,817 and two assisted living and memory care combination properties for a total of $16,385, the expansion of three assisted living properties for a total $14,600 and the renovation of a 140-unit independent living property for $125.</font></p>
<p style="MARGIN: 0in 0in 0pt 63pt; TEXT-INDENT: -0.25in">&#160;</p>
<p style="MARGIN: 0in 0in 0pt 63pt; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1">(2)</font><font style="FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> <font style="FONT-SIZE: 8pt" size="1">Excludes $117 of capital improvement on a completed project with no remaining commitments.</font></p>
<p style="MARGIN: 0in 0in 0pt 63pt; TEXT-INDENT: -0.25in">&#160;</p>
<p style="MARGIN: 0in 0in 0pt 63pt; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1">(3)</font><font style="FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> <font style="FONT-SIZE: 8pt" size="1">In April&#160;of 2013, we funded $1,398 under investment commitments.</font></p>
<p style="MARGIN: 0in 0in 0pt 63pt; TEXT-INDENT: -0.25in">&#160;</p></div>
<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_ScheduleOfInvestmentsInMortgageLoansSecuredByFirstMortgagesTableTextBlock', window );">Summary of investments in mortgage loans secured by first mortgages</a></td>
        <td class="text"><div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt" size="2">The following table summarizes our investments in mortgage loans secured by first mortgages at March&#160;31, 2013 <i>(dollar amounts in thousands)</i>:</font></p>
<p style="MARGIN: 0in 0in 0pt">&#160;</p>
<table style="WIDTH: 711px; BORDER-COLLAPSE: collapse; HEIGHT: 123px" cellspacing="0" cellpadding="0" width="711" border="0">
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 23.5%; PADDING-TOP: 0in" valign="bottom" width="23%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Percentage</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 9%; PADDING-TOP: 0in" valign="bottom" width="9%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Number</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 17.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="17%" colspan="3">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Number&#160;of</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Investment</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 23.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="23%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Type&#160;of&#160;Property</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Gross<br />
Investments</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">of<br />
Investments</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 9%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="9%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Number&#160;<br />
of Loans</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">of<br />
Properties</font><font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1">(1)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="8%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">SNF&#160;<br />
Beds</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.5%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="8%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">ALF<br />
Units</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">per<br />
Bed/Unit</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 23.5%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="23%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Skilled Nursing</font> <font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1">(2)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="10%">
<p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$25,097</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="10%">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">62.5%</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 9%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="9%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">15</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="10%">
<p style="MARGIN: 0in 0.3in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">17</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="8%">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">1,861</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="8%">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$13.49</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 23.5%; PADDING-TOP: 0in" valign="top" width="23%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Assisted Living</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">12,245</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">30.5%</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 9%; PADDING-TOP: 0in" valign="bottom" width="9%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">3</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.3in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">8</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 8%; PADDING-TOP: 0in" valign="bottom" width="8%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 8%; PADDING-TOP: 0in" valign="bottom" width="8%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">211</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$58.03</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 23.5%; PADDING-TOP: 0in" valign="top" width="23%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Range of Care</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%">
<p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">2,800</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">7.0%</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 9%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="9%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">1</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%">
<p style="MARGIN: 0in 0.3in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">1</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="8%">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">99</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="8%">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">74</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$16.18</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 23.5%; PADDING-TOP: 0in" valign="top" width="23%" bgcolor="black">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Totals</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="10%" bgcolor="black">
<p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$40,142</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="10%" bgcolor="black">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">100.0%</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 9%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="9%" bgcolor="black">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">19</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="10%" bgcolor="black">
<p style="MARGIN: 0in 0.3in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">26</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="8%" bgcolor="black">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">1,960</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="8%" bgcolor="black">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">285</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%" bgcolor="black">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black">
<p style="MARGIN: 0in 0in 0pt">&#160;</p></td></tr></table>
<p style="MARGIN: 0in 0in 0pt 27.35pt; TEXT-INDENT: -0.25in">&#160;</p>
<p style="MARGIN: 0in 0in 0pt 27.35pt; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1">(1)</font><font style="FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> <font style="FONT-SIZE: 8pt" size="1">We have investments in 8 states that include mortgages to 11 different operators.</font></p>
<p style="MARGIN: 0in 0in 0pt 27pt; TEXT-INDENT: -0.25in">&#160;</p>
<p style="MARGIN: 0in 0in 0pt 27pt; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1">(2)</font><font style="FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> <font style="FONT-SIZE: 8pt" size="1">Includes a mortgage and construction loan secured by a currently operating skilled nursing property and parcel of land upon which a 106-bed replacement facility will be constructed. The agreement gives us the right to purchase the replacement facility for $13,500 during an 18 month period beginning on the first anniversary of the issuance of the certificate of occupancy.</font></p>
<p style="MARGIN: 0in 0in 0pt 27pt; TEXT-INDENT: -0.25in">&#160;</p></div>
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                <p>Tabular disclosure of the entity's investment in mortgage loans secured by first mortgages on real estate properties.</p>
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                <p>Tabular disclosure of the entity's investment in owned properties.</p>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EXRCI">
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          <div style="width: 200px;"><strong>Real Estate Investments (Details) (USD $)<br>In Thousands, unless otherwise specified</strong></div>
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        <td class="nump"> 906,582<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_PropertiesNumberOfUnitsOrBeds', window );">Number of Beds/Units</a></td>
        <td class="nump">2<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">ALF Units | Owned Properties</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_PropertiesNumberOfUnitsOrBeds', window );">Number of Beds/Units</a></td>
        <td class="nump">4,776<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Skilled Nursing | Owned Properties</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestments', window );">Gross Investments</a></td>
        <td class="nump">448,010<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RealEstateInvestmentsPercentage', window );">Percentage of Investments</a></td>
        <td class="nump">49.40%<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of properties</a></td>
        <td class="nump">73<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RealEstateInvestmentsPerUnit', window );">Investment per Bed/Unit</a></td>
        <td class="nump">53,110.00<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Skilled Nursing | SNF Beds | Owned Properties</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_PropertiesNumberOfUnitsOrBeds', window );">Number of Beds/Units</a></td>
        <td class="nump">8,435<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Assisted Living | Owned Properties</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestments', window );">Gross Investments</a></td>
        <td class="nump">379,874<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RealEstateInvestmentsPercentage', window );">Percentage of Investments</a></td>
        <td class="nump">41.90%<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of properties</a></td>
        <td class="nump">96<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RealEstateInvestmentsPerUnit', window );">Investment per Bed/Unit</a></td>
        <td class="nump">84,380.00<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Assisted Living | ALF Units | Owned Properties</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_PropertiesNumberOfUnitsOrBeds', window );">Number of Beds/Units</a></td>
        <td class="nump">4,502<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Range of Care | Owned Properties</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestments', window );">Gross Investments</a></td>
        <td class="nump">43,907<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RealEstateInvestmentsPercentage', window );">Percentage of Investments</a></td>
        <td class="nump">4.80%<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of properties</a></td>
        <td class="nump">8<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RealEstateInvestmentsPerUnit', window );">Investment per Bed/Unit</a></td>
        <td class="nump">48,360.00<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Range of Care | SNF Beds | Owned Properties</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_PropertiesNumberOfUnitsOrBeds', window );">Number of Beds/Units</a></td>
        <td class="nump">634<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Range of Care | ALF Units | Owned Properties</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_PropertiesNumberOfUnitsOrBeds', window );">Number of Beds/Units</a></td>
        <td class="nump">274<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Under development | Owned Properties</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestments', window );">Gross Investments</a></td>
        <td class="nump">22,347<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RealEstateInvestmentsPercentage', window );">Percentage of Investments</a></td>
        <td class="nump">2.50%<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">158-units combination assisted living and memory care properties</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_NumberOfBedsOrUnitsUnderDevelopment', window );">Number of beds/units acquired</a></td>
        <td class="nump">158<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">143-bed skilled nursing property | SNF Beds</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_NumberOfBedsOrUnitsUnderDevelopment', window );">Number of beds/units acquired</a></td>
        <td class="nump">143<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">120-bed skilled nursing property | SNF Beds</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_NumberOfBedsOrUnitsUnderDevelopment', window );">Number of beds/units acquired</a></td>
        <td class="nump">120<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Schools | Owned Properties</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestments', window );">Gross Investments</a></td>
        <td class="nump"> 12,444<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RealEstateInvestmentsPercentage', window );">Percentage of Investments</a></td>
        <td class="nump">1.40%<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of properties</a></td>
        <td class="nump">2<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Memory care property | 60-units memory care properties</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_NumberOfBedsOrUnitsUnderDevelopment', window );">Number of beds/units acquired</a></td>
        <td class="nump">60<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Assisted living and Memory care property</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentLineItems', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of properties</a></td>
        <td class="nump">2<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentLineItems">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>invest_InvestmentLineItems</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>invest_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_AnnualIncreaseInRent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the increase in rent expressed as percentage, over the prior year's rent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_AnnualIncreaseInRent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_NumberOfBedsOrUnitsUnderDevelopment">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the number of beds/units under development.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_NumberOfBedsOrUnitsUnderDevelopment</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_NumberOfPropertiesUnderTripleNetLease">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the number of properties under each triple net lease.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_NumberOfPropertiesUnderTripleNetLease</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_OperatingLeaseInitialTerm">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the initial term of operating lease.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_OperatingLeaseInitialTerm</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:durationItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
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              </div>
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        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_PropertiesNumberOfUnitsOrBeds">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the number of units or beds of properties under mortgage loans or owned by the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_PropertiesNumberOfUnitsOrBeds</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_RealEstateInvestmentsNumberOfOperatorsInStates">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the number of operators associated with certain investments.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_RealEstateInvestmentsNumberOfOperatorsInStates</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_RealEstateInvestmentsNumberOfStates">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the number of states in which the entity has invested.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_RealEstateInvestmentsNumberOfStates</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_RealEstateInvestmentsPercentage">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the Investments in real estate held solely for investment purposes expressed as percentage.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_RealEstateInvestmentsPercentage</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_RealEstateInvestmentsPerUnit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the per unit investment in real estate held solely for investment purposes.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_RealEstateInvestmentsPerUnit</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>us-types:perUnitItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LeasesOperatingAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LeasesOperatingAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NumberOfRealEstateProperties">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The number of real estate properties owned as of the balance sheet date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NumberOfRealEstateProperties</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateInvestments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of real estate investments, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; (7) other real estate investments; (8) real estate joint ventures; and (9) unconsolidated real estate and other joint ventures not separately presented.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.1(d))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 1<br><br> -Subparagraph d<br><br> -Article 7<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RealEstateInvestments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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                </table>
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<DOCUMENT>
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  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EHDAC">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="2">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2013</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementAbstract', window );"><strong>CONSOLIDATED STATEMENTS OF INCOME</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty', window );">Rental income from a lessee that qualifies as a related party</a></td>
        <td class="nump">$ 1,113<span></span></td>
        <td class="nump">$ 1,086<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty', window );">Straight-line rental income from a lessee that qualifies as a related party</a></td>
        <td class="nump">12<span></span></td>
        <td class="nump">39<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty', window );">Interest income from an entity that qualifies as a related party</a></td>
        <td class="nump">$ 0<span></span></td>
        <td class="nump">$ 180<span></span></td>
      </tr>
    </table>
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        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents interest income from an entity that qualifies as a related party.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_RelatedPartyTransactionInterestIncomeFromTransactionsWithRelatedParty</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents rental income from an entity that qualifies as a related party.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_RelatedPartyTransactionRentalIncomeFromTransactionsWithRelatedParty</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td>duration</td>
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        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents straight line rental income from an entity that qualifies as a related party.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><nobr>ltc_RelatedPartyTransactionStraightLineRentalIncomeFromTransactionsWithRelatedParty</nobr></td>
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        </tr>
        <tr>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>Real Estate Investments<br></strong></div>
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        <th class="th" colspan="1">3 Months Ended</th>
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          <div>Mar. 31, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAbstract', window );"><strong>Real Estate Investments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateOwnedTextBlock', window );">Real Estate Investments</a></td>
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<p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">2.</font></b><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></b> <b><font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt" size="2">Real Estate Investments</font></b></p>
<p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">Assisted living properties, independent living properties, memory care properties, and combinations thereof are included in the assisted living property type. Range of care properties (or ROC) property type consists of properties providing skilled nursing and any combination of assisted living, independent living and/or memory care services.</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">Any reference to the number of properties, number of schools, number of units, number of beds, and yield on investments in real estate are unaudited and outside the scope of our independent registered public accounting firm&#8217;s review of our consolidated financial statements in accordance with the standards of the Public Company Accounting Oversight Board.</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><i><font style="FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="2">Owned Properties.</font></i> <font style="FONT-SIZE: 11pt" size="2">The following table summarizes our investments in owned properties at March&#160;31, 2013 <i>(dollar amounts in thousands)</i>:</font></p>
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
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<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11.5%; PADDING-TOP: 0in" valign="bottom" width="11%">
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<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Number</font></p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Number&#160;of</font></p></td>
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<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Investment<br />
per<br />
Bed/Unit</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 24.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="24%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Type&#160;of&#160;Property</font></p></td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Gross<br />
Investments</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Percentage&#160;of<br />
Investments</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">of<br />
Properties</font> <font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1">(1)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">SNF<br />
Beds</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.5%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">ALF<br />
Units</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.5%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 24.5%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="24%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Skilled Nursing</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$448,010</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.5%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">49.4%</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">73</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">8,435</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="10%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$53.11</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 24.5%; PADDING-TOP: 0in" valign="bottom" width="24%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Assisted Living</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">379,874</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11.5%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">41.9%</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">96</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">4,502</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$84.38</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 24.5%; PADDING-TOP: 0in" valign="bottom" width="24%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Range of Care</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">43,907</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 11.5%; PADDING-TOP: 0in" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">4.8%</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">8</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">634</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">274</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$48.36</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 24.5%; PADDING-TOP: 0in" valign="bottom" width="24%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Under Development</font> <font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1">(2)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">22,347</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11.5%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">2.5%</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 24.5%; PADDING-TOP: 0in" valign="bottom" width="24%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Schools</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">12,444</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">1.4%</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">2</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 24.5%; PADDING-TOP: 0in" valign="bottom" width="24%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Totals</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$906,582</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">100.0%</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">179</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">9,069</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="10%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">4,776</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="bottom" width="11%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr></table>
<p style="MARGIN: 0in 0in 0pt 13.5pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt 31.5pt; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1">(1)</font><font style="FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> <font style="FONT-SIZE: 8pt" size="1">We have investments in 26 states leased to 35 different operators.</font></p>
<p style="MARGIN: 0in 0in 0pt 31.5pt; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt 31.5pt; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1">(2)</font><font style="FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> <font style="FONT-SIZE: 8pt" size="1">Includes a MC development with 60 units and two combination ALF and MC developments with a total of 158 units, a 143-bed SNF development and a 120-bed SNF redevelopment project.</font></p>
<p style="MARGIN: 0in 0in 0pt 31.5pt; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">All of our owned properties are leased to our operators pursuant to non-cancelable operating leases generally with an initial term of 10 to 15 years.&#160; Each lease is a triple net lease covering one or more properties which requires the operator/lessee to pay all costs necessary in the operations of the facilities.&#160; Many of the leases contain renewal options.&#160; The leases provide for fixed minimum base rent during the initial and renewal periods. &#160;The majority of our leases contain provisions for specified annual increases over the rents of the prior year that are generally computed in one of four ways depending on specific provisions of each lease:</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="top" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">(i)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 89%; PADDING-TOP: 0in" valign="top" width="89%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">a specified percentage increase over the prior year&#8217;s rent, generally between 2.0% and 3.0%;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="top" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">(ii)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 89%; PADDING-TOP: 0in" valign="top" width="89%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">a calculation based on the Consumer Price Index;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="top" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">(iii)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 89%; PADDING-TOP: 0in" valign="top" width="89%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">as a percentage of facility net patient revenues in excess of base amounts; or</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 11%; PADDING-TOP: 0in" valign="top" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">(iv)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 89%; PADDING-TOP: 0in" valign="top" width="89%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">specific dollar increases.</font></p></td></tr></table>
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">As of March&#160;31, 2013, we have a commitment to provide, under certain conditions, up to $5,000,000 per year through December&#160;2014 to an existing operator for expansion of the 37 properties they lease from us.&#160; The estimated yield of this commitment is 9.5% plus the positive difference, if any, between the average yields on the U.S. Treasury 10-year note for the five days prior to funding, minus 420 basis points. In addition, the following table summarizes our investment commitments as of March&#160;31, 2013, excluding the $5,000,000 per year commitment, and year to date funding on our development, redevelopment, renovation and expansion projects <i>(excludes capitalized interest, dollar amounts in thousands)</i>:</font></p>
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<table style="MARGIN-LEFT: 0.5in; WIDTH: 86.66%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="86%" border="0">
<tr style="HEIGHT: 0px">
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.76%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="15%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">Type&#160;of&#160;Property</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">Investment<br />
Commitment</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">2013<br />
Funding&#160;</font><font style="FONT-SIZE: 6pt; POSITION: relative; TOP: -2pt" size="1">(2)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">Commitment<br />
Funded</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">Remaining<br />
Commitment</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">Number&#160;of<br />
Properties</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">Number&#160;of<br />
Beds/Units</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.16%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 15.76%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="15%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">Skilled Nursing</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">$36,644</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">$2,313</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">$11,418</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">$25,226</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">&#160;6</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="11%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">&#160;&#160;785</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.16%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.76%; PADDING-TOP: 0in" valign="top" width="15%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">Assisted Living</font> <font style="FONT-SIZE: 6pt; POSITION: relative; TOP: -2pt" size="1">(1)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">&#160;40,927</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">&#160;3,880</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">&#160;12,122</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">&#160;28,805</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">&#160;7</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">&#160;&#160;494</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.16%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 15.76%; PADDING-TOP: 0in" valign="top" width="15%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">Totals</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">$77,571</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">&#160;&#160;&#160;$6,193&#160;</font><font style="FONT-SIZE: 6pt; POSITION: relative; TOP: -2pt" size="1">(3)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman; POSITION: relative; TOP: -2pt" size="1">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">$23,540</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">$54,031</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">13</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.3%; PADDING-TOP: 0in" valign="bottom" width="2%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 11.54%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="11%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman" size="1">1,279</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.16%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p></td></tr></table>
<p style="MARGIN: 0in 0in 0pt 45pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt 63pt; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1">(1)</font><font style="FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> <font style="FONT-SIZE: 8pt" size="1">Includes the development of a 60-unit memory care property for $9,817 and two assisted living and memory care combination properties for a total of $16,385, the expansion of three assisted living properties for a total $14,600 and the renovation of a 140-unit independent living property for $125.</font></p>
<p style="MARGIN: 0in 0in 0pt 63pt; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt 63pt; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1">(2)</font><font style="FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> <font style="FONT-SIZE: 8pt" size="1">Excludes $117 of capital improvement on a completed project with no remaining commitments.</font></p>
<p style="MARGIN: 0in 0in 0pt 63pt; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt 63pt; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1">(3)</font><font style="FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> <font style="FONT-SIZE: 8pt" size="1">In April&#160;of 2013, we funded $1,398 under investment commitments.</font></p>
<p style="MARGIN: 0in 0in 0pt 63pt; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">During the three months ended March&#160;31, 2012, we purchased a 144-bed skilled nursing property located in Texas for an aggregate purchase price of $18,600,000.&#160; Additionally, we sold a 140-bed skilled nursing property located in Texas for $1,248,000 and recognized a gain, net of selling expenses, of $16,000. This property was leased under a master lease and the economic terms of this master lease did not change as a result of this sale.</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><i><font style="FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="2">Mortgage Loans.</font></i> <font style="FONT-SIZE: 11pt" size="2">The following table summarizes our investments in mortgage loans secured by first mortgages at March&#160;31, 2013 <i>(dollar amounts in thousands)</i>:</font></p>
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 23.5%; PADDING-TOP: 0in" valign="bottom" width="23%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Percentage</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 9%; PADDING-TOP: 0in" valign="bottom" width="9%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Number</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 17.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="17%" colspan="3">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Number&#160;of</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Investment</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 23.5%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="23%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Type&#160;of&#160;Property</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Gross<br />
Investments</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">of<br />
Investments</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 9%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="9%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Number&#160;<br />
of Loans</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">of<br />
Properties</font><font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1">(1)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="8%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">SNF&#160;<br />
Beds</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.5%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="8%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">ALF<br />
Units</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">per<br />
Bed/Unit</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 23.5%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="23%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Skilled Nursing</font> <font style="FONT-SIZE: 6.5pt; POSITION: relative; TOP: -3pt" size="1">(2)</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="10%">
<p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$25,097</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="10%">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">62.5%</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 9%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="9%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">15</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="10%">
<p style="MARGIN: 0in 0.3in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">17</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="8%">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">1,861</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="8%">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$13.49</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 23.5%; PADDING-TOP: 0in" valign="top" width="23%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Assisted Living</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">12,245</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">30.5%</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 9%; PADDING-TOP: 0in" valign="bottom" width="9%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">3</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.3in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">8</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 8%; PADDING-TOP: 0in" valign="bottom" width="8%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#8212;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 8%; PADDING-TOP: 0in" valign="bottom" width="8%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">211</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$58.03</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 23.5%; PADDING-TOP: 0in" valign="top" width="23%">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Range of Care</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%">
<p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">2,800</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">7.0%</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 9%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="9%">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">1</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="10%">
<p style="MARGIN: 0in 0.3in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">1</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="8%">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">99</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="8%">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">74</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$16.18</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr>
<tr style="HEIGHT: 0px">
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 23.5%; PADDING-TOP: 0in" valign="top" width="23%" bgcolor="black">
<p style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Totals</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="10%" bgcolor="black">
<p style="MARGIN: 0in 0.1in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">$40,142</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="10%" bgcolor="black">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">100.0%</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 9%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="9%" bgcolor="black">
<p style="MARGIN: 0in 0.2in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">19</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="10%" bgcolor="black">
<p style="MARGIN: 0in 0.3in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">26</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="8%" bgcolor="black">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">1,960</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 8%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="8%" bgcolor="black">
<p style="MARGIN: 0in 0.15in 0pt 0in; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">285</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1.5%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 10%; PADDING-TOP: 0in" valign="bottom" width="10%" bgcolor="black">
<p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td>
<td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: white; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="black">
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 1pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr></table>
<p style="MARGIN: 0in 0in 0pt 27.35pt; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt 27.35pt; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1">(1)</font><font style="FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> <font style="FONT-SIZE: 8pt" size="1">We have investments in 8 states that include mortgages to 11 different operators.</font></p>
<p style="MARGIN: 0in 0in 0pt 27pt; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt 27pt; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman" size="1">(2)</font><font style="FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> <font style="FONT-SIZE: 8pt" size="1">Includes a mortgage and construction loan secured by a currently operating skilled nursing property and parcel of land upon which a 106-bed replacement facility will be constructed. The agreement gives us the right to purchase the replacement facility for $13,500 during an 18 month period beginning on the first anniversary of the issuance of the certificate of occupancy.</font></p>
<p style="MARGIN: 0in 0in 0pt 27pt; TEXT-INDENT: -0.25in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p>
<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">At March&#160;31, 2013, the mortgage loans had interest rates ranging from 7.0% to 13.5% and maturities ranging from 2014 to 2022.&#160; In addition, some loans contain certain guarantees, provide for certain facility fees and generally have 20-year to 25-year amortization schedules.&#160; The majority of the mortgage loans provide for annual increases in the interest rate based upon a specified increase of 10 to 25 basis points. During the three months ended March&#160;31, 2013 and 2012, we received $462,000 and $718,000, respectively, in regularly scheduled principal payments. During the three months ended March&#160;31, 2013, we funded $910,000 under a $10,600,000 mortgage and construction loan and we have a remaining commitment of $7,070,000.</font></p>
<p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></div>
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                <p>The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Statement of Position (SOP)<br><br> -Number 01-6<br><br> -Paragraph 13<br><br> -Subparagraph f<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  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This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 35<br><br> -Paragraph 43<br><br> -URI http://asc.fasb.org/extlink&amp;oid=16397438&amp;loc=d3e1739-110224<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 34<br><br> -Paragraph 9, 11, 12, 13, 14, 15, 21<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-03.10(4))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 10<br><br> -Subparagraph 4<br><br> -Article 9<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 35<br><br> -Paragraph 17<br><br> -URI http://asc.fasb.org/extlink&amp;oid=16397438&amp;loc=d3e1424-110224<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 28<br><br> -Article 12<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6375948&amp;loc=d3e4437-111522<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 40<br><br> -Section 40<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6905009&amp;loc=d3e18551-111553<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Audit and Accounting Guide (AAG)<br><br> -Number AAG-DEP<br><br> -Paragraph 2, 6, 9-11, 18, 20<br><br> -IssueDate 2006-05-01<br><br> -Chapter 11<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  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This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 11<br><br> -Article 9<br><br><br><br>Reference 16: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher OTS<br><br> -Name Federal Regulation (FR)<br><br> -Number Title 12<br><br> -Section 563c.102<br><br> -Paragraph 11<br><br> -Chapter V<br><br> -Subsection I<br><br> -LegacyDoc This is a non-GAAP reference that was included in the 2009 taxonomy.  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          <div style="width: 200px;"><strong>Real Estate Investments (Details 2) (USD $)<br></strong></div>
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          <div>140-bed skilled nursing property

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          <div>144-bed skilled nursing property

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          <div>Assisted living and Memory care property

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          <div>60-units memory care properties

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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="num">(4.20%)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">77,571,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">40,927,000<span></span></td>
        <td class="nump">36,644,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_InvestmentCommitmentsAmountFundedDuringPeriod', window );">2013 Funding</a></td>
        <td class="nump">6,193,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,398,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">3,880,000<span></span></td>
        <td class="nump">2,313,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_InvestmentCommitmentsTotalAmountFunded', window );">Commitment Funded</a></td>
        <td class="nump">23,540,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">12,122,000<span></span></td>
        <td class="nump">11,418,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_InvestmentCommitmentsRemainingAmount', window );">Remaining Commitment</a></td>
        <td class="nump">54,031,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">52,633,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">28,805,000<span></span></td>
        <td class="nump">25,226,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_NumberOfPropertiesUnderInvestmentCommitments', window );">Number of Properties</a></td>
        <td class="nump">13<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">7<span></span></td>
        <td class="nump">6<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">2<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_NumberOfBedsAndUnitsUnderInvestmentCommitments', window );">Number of Beds/Units</a></td>
        <td class="nump">1,279<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">494<span></span></td>
        <td class="nump">785<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_NumberOfBedsOrUnitsUnderDevelopment', window );">Number of beds/units acquired</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">140<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">60<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties', window );">Amount invested for expansion and renovation of properties</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">14,600,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">125,000<span></span></td>
        <td class="nump">16,385,000<span></span></td>
        <td class="nump">9,817,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_CapitalImprovementCommitmentsAdditionalAmountFunded', window );">Capital improvement funding to existing properties</a></td>
        <td class="nump">117,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_PropertiesNumberOfUnitsOrBeds', window );">Number of Beds/Units</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">2<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">144<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionCostOfAcquiredEntityCashPaid', window );">Purchase Price</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">18,600,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ltc_NumberOfBedsOrUnitsInRealEstatePropertySold', window );">Number of beds or units in property sold</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">140<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesOfRealEstate', window );">Sale of property</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,248,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax', window );">Gain on sale of property, net of selling expenses</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 16,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 16,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the amount invested for expansion and renovation of properties.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_BusinessAcquisitionAmountInvestedForExpansionAndRenovationOfProperties</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_CapitalImprovementCommitments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the amount of capital improvement commitment of the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_CapitalImprovementCommitments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_CapitalImprovementCommitmentsAdditionalAmountFunded">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the additional amount funded into various capital improvement commitments by the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_CapitalImprovementCommitmentsAdditionalAmountFunded</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_CapitalImprovementCommitmentsBasisSpreadOnVariableRateBasis">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the percentage points added or deducted from the reference rate to compute the estimated yield.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_CapitalImprovementCommitmentsBasisSpreadOnVariableRateBasis</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Description of the reference rate used to compute the estimated yield on capital improvement commitments of the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_CapitalImprovementCommitmentsEstimatedYieldDescriptionOfVariableRateBasis</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the maturity period of security taken as base for computation of estimated yield.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_CapitalImprovementCommitmentsEstimatedYieldMaturityOfBaseSecurity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:durationItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the period prior to funding taken as base for computation of estimated yield.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_CapitalImprovementCommitmentsEstimatedYieldPeriodBeforeFunding</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:durationItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_CapitalImprovementCommitmentsReferenceRateForDerivingEstimatedYield">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the reference rate used for computing estimated yield.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_CapitalImprovementCommitmentsReferenceRateForDerivingEstimatedYield</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_InvestmentCommitments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the amount of investment commitments of the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_InvestmentCommitments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_InvestmentCommitmentsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_InvestmentCommitmentsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_InvestmentCommitmentsAmountFundedDuringPeriod">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the amount funded into various investment commitments by the entity during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_InvestmentCommitmentsAmountFundedDuringPeriod</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_InvestmentCommitmentsRemainingAmount">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the amount of remaining investment commitments of the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_InvestmentCommitmentsRemainingAmount</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_InvestmentCommitmentsTotalAmountFunded">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the total amount funded into various investment commitments by the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_InvestmentCommitmentsTotalAmountFunded</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the number of units agreed to be funded for construction under the lease agreement and development commitment.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_LeaseAgreementAndDevelopmentCommitmentNumberOfRealEstatePropertiesToBeFunded</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_NumberOfBedsAndUnitsUnderInvestmentCommitments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the number of beds and units under investment commitments.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_NumberOfBedsAndUnitsUnderInvestmentCommitments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_NumberOfBedsOrUnitsInRealEstatePropertySold">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The number of beds or units in a real estate property sold by the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_NumberOfBedsOrUnitsInRealEstatePropertySold</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_NumberOfBedsOrUnitsUnderDevelopment">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the number of beds/units under development.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_NumberOfBedsOrUnitsUnderDevelopment</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_NumberOfPropertiesUnderInvestmentCommitments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the number of properties under investment commitments.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_NumberOfPropertiesUnderInvestmentCommitments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ltc_PropertiesNumberOfUnitsOrBeds">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the number of units or beds of properties under mortgage loans or owned by the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>ltc_PropertiesNumberOfUnitsOrBeds</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>ltc_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionCostOfAcquiredEntityCashPaid">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of cash paid to acquire the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 141R<br><br> -Paragraph 68<br><br> -Subparagraph f(1)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 141<br><br> -Paragraph 51<br><br> -Subparagraph d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_BusinessAcquisitionCostOfAcquiredEntityCashPaid</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionLineItems">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_BusinessAcquisitionLineItems</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
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                <p>Amount of gain (loss), after tax expense or benefit and not previously recognized, resulting from the sale of a business component.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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                <p>Revenue from the sale of commercial, industrial, or residential property during the period. This element is more likely than not relevant to an entity for which real estate operations are a principal activity. If real estate operations are not a principal activity, the reporting entity would likely use a gain (loss) on sale of property, plant, or equipment type element.</p>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EUWAE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Earnings per Share (Details) (USD $)<br>In Thousands, except Per Share data, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="2">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2013</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>Earnings per Share</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest', window );">Income from continuing operations</a></td>
        <td class="nump">$ 12,976<span></span></td>
        <td class="nump">$ 12,916<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest', window );">Less net income allocated to non-controlling interests</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(11)<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ParticipatingSecuritiesDistributedAndUndistributedEarningsAbstract', window );"><strong>Less net income allocated to participating securities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UndistributedEarningsAllocatedToParticipatingSecurities', window );">Nonforfeitable dividends on participating securities</a></td>
        <td class="num">(98)<span></span></td>
        <td class="num">(94)<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ParticipatingSecuritiesDistributedAndUndistributedEarnings', window );">Total net income allocated to participating securities</a></td>
        <td class="num">(98)<span></span></td>
        <td class="num">(94)<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockDividendsAndOtherAdjustmentsAbstract', window );"><strong>Less net income allocated to preferred stockholders:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DividendsPreferredStockStock', window );">Preferred stock dividends</a></td>
        <td class="num">(818)<span></span></td>
        <td class="num">(818)<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockDividendsAndOtherAdjustments', window );">Total net income allocated to preferred stockholders</a></td>
        <td class="num">(818)<span></span></td>
        <td class="num">(818)<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperations', window );">Income from continuing operations available to common stockholders</a></td>
        <td class="nump">12,060<span></span></td>
        <td class="nump">11,993<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAbstract', window );"><strong>Discontinued operations:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax', window );">Gain on sale of assets, net</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">16<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax', window );">Net income from discontinued operations</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">16<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic', window );">Net income available to common stockholders</a></td>
        <td class="nump">12,060<span></span></td>
        <td class="nump">12,009<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted', window );">Net income for diluted net income per share</a></td>
        <td class="nump">$ 12,060<span></span></td>
        <td class="nump">$ 12,009<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Shares for basic net income per share</a></td>
        <td class="nump">30,365<span></span></td>
        <td class="nump">30,189<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustmentAbstract', window );"><strong>Effect of dilutive securities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements', window );">Stock options (in shares)</a></td>
        <td class="nump">34<span></span></td>
        <td class="nump">45<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Shares for diluted net income per share</a></td>
        <td class="nump">30,399<span></span></td>
        <td class="nump">30,234<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Basic net income per share (in dollars per share)</a></td>
        <td class="nump">$ 0.40<span></span></td>
        <td class="nump">$ 0.40<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Diluted net income per share (in dollars per share)</a></td>
        <td class="nump">$ 0.40<span></span></td>
        <td class="nump">$ 0.40<span></span></td>
      </tr>
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    <div style="display: none;">
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of gain (loss), after tax expense or benefit and not previously recognized, resulting from the sale of a business component.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 144<br><br> -Paragraph 47<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e957-107759<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 144<br><br> -Paragraph 43<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Equity impact of stock dividends for preferred shareholders declared by an entity during the period. This element includes paid and unpaid dividends declared during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Statement of Position (SOP)<br><br> -Number 01-6<br><br> -Paragraph 14<br><br> -Subparagraph l<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 405<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6957935&amp;loc=d3e64057-112817<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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                    <td>duration</td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
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                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EarningsPerShareAbstract</nobr></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 21<br><br> -Article 9<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 36, 37, 38<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-04.23)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.21)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 07-4<br><br> -Paragraph 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 52<br><br> -URI http://asc.fasb.org/extlink&amp;oid=16381557&amp;loc=d3e4984-109258<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 18<br><br> -Article 7<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 20<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EarningsPerShareBasic</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDiluted">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 18<br><br> -Article 7<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 11, 12, 36<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 07-4<br><br> -Paragraph 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 20<br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.21)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 21<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EarningsPerShareDiluted</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperations">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of income (loss) from continuing operations attributable to the parent. Also defined as revenue less expenses and taxes from ongoing operations before extraordinary items but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 18<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4613673-111683<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.13)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 29<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph b(1)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromContinuingOperations</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, and noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 29<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 13<br><br> -Article 7<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e957-107759<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 144<br><br> -Paragraph 47<br><br> -Subparagraph c<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 15<br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 29<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.14)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 144<br><br> -Paragraph 43<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.12)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of share based payment arrangements using the treasury stock method.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28A<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1500-109256<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 20<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements</nobr></td>
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        <tr>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of Net Income (Loss) attributable to noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4J<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733213&amp;loc=SL4591551-111686<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A1, A4, A5<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(1)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLossAttributableToNoncontrollingInterest</nobr></td>
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        <tr>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1377-109256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 9<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic</nobr></td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Net Income or Loss Available to Common Stockholders plus adjustments resulting from the assumption that dilutive convertible securities were converted, options or warrants were exercised, or that other shares were issued upon the satisfaction of certain conditions.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1505-109256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1377-109256<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 11, 12<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate of earnings distributed and earnings allocated to participating securities under the two-class method to the extent that participating securities may share in earnings as if all of the earnings for the period had been distributed.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ParticipatingSecuritiesDistributedAndUndistributedEarnings</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate value of preferred stock dividends and other adjustments necessary to derive net income apportioned to common stockholders.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1377-109256<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PreferredStockDividendsAndOtherAdjustments</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Earnings allocated (not distributed) to participating securities under the two-class method to the extent that participating securities may share in earnings as if all of the earnings for the period had been distributed.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_UndistributedEarningsAllocatedToParticipatingSecurities</nobr></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 40<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 8<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 07-4<br><br> -Paragraph 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1505-109256<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">Subsequent to March&#160;31, 2013 the following events occurred.</font></p>
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<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">We declared a monthly cash dividend of $0.155 per share on our common stock for the months of April, May&#160;and June&#160;2013, payable on April&#160;30, May&#160;31 and June&#160;28, 2013, respectively, to stockholders of record on April&#160;22, May&#160;23 and June&#160;20, 2013, respectively.</font></p>
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<p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">We funded $1,398,000 under real estate investment commitments. Accordingly, we have a remaining commitment of $52,633,000. See <i>Note 2. Real Estate Investments</i> for further discussion. We also funded $60,000 under loans and line of credit agreements to certain operators and have a remaining commitment of $1,256,000. See <i>Note 3. Notes Receivable</i> for further discussion.</font></p>
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end

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
