SCHEDULE III

REAL ESTATE AND ACCUMULATED DEPRECIATION

(in thousands)


							Costs
							capitalized		Gross amount at which carried at
			Initial cost to company				subsequent		December 31, 2016
					Building and		to				Building and				Accum		Construction/	Acquisition
	Encumbrances		Land		improvements		acquisition		Land		improvements		Total(1)		deprec.		renovation date	date
Skilled Nursing Properties:
134 Alamogordo, NM	$	—	$	210	$	2,593	$	641	$	210	$	3,234	$	3,444	$	1,158	1985	2001
218 Albuquerque, NM		—		1,696		3,891		530		1,696		4,421		6,117		1,616	2008	2005
219 Albuquerque, NM		—		1,950		8,910		207		1,950		9,117		11,067		3,249	1982	2005
220 Albuquerque, NM		—		2,463		7,647		9		2,463		7,656		10,119		2,717	1970	2005
042 Altoona, IA		—		105		2,309		444		105		2,753		2,858		1,787	1973	1996
252 Amarillo, TX		—		844		—		7,925		844		7,925		8,769		1,285	2013	2011
214 Aransas Pass, TX		—		154		1,276		589		154		1,865		2,019		783	2008	2004
247 Arlington, TX		—		1,016		13,649		—		1,016		13,649		14,665		2,959	2007	2011
171 Atlanta, GA		—		175		1,282		3		175		1,285		1,460		735	1968	1999
040 Atmore, AL		—		131		2,877		196		131		3,073		3,204		1,843	1974	1996
221 Beaumont, TX		—		370		1,141		106		370		1,247		1,617		488	1950	2005
213 Beeville, TX		—		186		1,197		70		186		1,267		1,453		433	1974	2004
007 Bradenton, FL		—		330		2,720		160		330		2,880		3,210		1,959	2012	1993
256 Brownwood, TX		—		164		6,336		—		164		6,336		6,500		937	2011	2012
043 Carroll, IA		—		47		1,033		213		47		1,246		1,293		807	1969	1996
177 Chesapeake, VA		—		388		3,469		1,423		388		4,892		5,280		3,050	2007	1995
257 Cincinnati, OH		—		1,890		25,110		—		1,890		25,110		27,000		2,543	2009	2012
125 Clovis, NM		—		561		5,539		307		561		5,846		6,407		2,305	2006	2001
129 Clovis, NM		—		598		5,902		59		598		5,961		6,559		2,375	1995	2001
268 Coldspring, KY		—		2,050		21,496		—		2,050		21,496		23,546		2,158	2014	2012
253 Colton, CA		—		2,342		15,158		—		2,342		15,158		17,500		2,222	1990	2011
211 Commerce City, CO		—		236		3,217		167		236		3,384		3,620		1,376	1964	2004
212 Commerce City, CO		—		161		2,160		95		161		2,255		2,416		895	1967	2004
246 Crowley, TX		—		2,247		14,276		—		2,247		14,276		16,523		2,939	2007	2011
235 Daleville, VA		—		279		8,382		—		279		8,382		8,661		1,994	2005	2010
258 Dayton, OH		—		373		26,627		—		373		26,627		27,000		2,716	2010	2012
196 Dresden, TN		—		31		1,529		1,073		31		2,602		2,633		896	2014	2000
298 Forth Worth, TX		—		2,785		7,546		—		2,785		7,546		10,331		471	1998	2015
185 Gardner, KS		—		896		4,478		4,150		896		8,628		9,524		3,346	2011	1999
248 Granbury, TX		—		836		6,693		—		836		6,693		7,529		1,967	2008	2011
044 Granger, IA		—		62		1,356		221		62		1,577		1,639		989	1979	1996
205 Grapevine, TX		—		431		1,449		188		431		1,637		2,068		848	1974	2002
172 Griffin, GA		—		500		2,900		—		500		2,900		3,400		1,560	1969	1999
250 Hewitt, TX		—		1,780		8,220		99		1,780		8,319		10,099		1,324	2008	2011
051 Houston, TX		—		365		3,769		1,598		365		5,367		5,732		3,258	1968	1996
054 Houston, TX		—		202		4,458		1,426		202		5,884		6,086		3,700	2007	1996
055 Houston, TX		—		202		4,458		1,359		202		5,817		6,019		3,581	2008	1996
208 Jacksonville, FL		—		486		1,981		30		486		2,011		2,497		897	1987	2002
045 Jefferson, IA		—		86		1,883		296		86		2,179		2,265		1,348	1972	1996
008 Lecanto, FL		—		351		2,665		2,737		351		5,402		5,753		3,459	2012	1993
300 Mansfield, TX		—		2,890		13,110		—		2,890		13,110		16,000		448	2015	2016
053 Mesa, AZ		—		305		6,909		1,876		305		8,785		9,090		5,142	1996	1996
226 Mesa, AZ		—		1,095		2,330		4,673		1,095		7,003		8,098		915	2016	2006
242 Mission, TX		—		1,111		16,602		—		1,111		16,602		17,713		3,071	2004	2010
041 Montgomery, AL		—		242		5,327		115		242		5,442		5,684		3,332	1974	1996
115 Nacogdoches, TX		—		100		1,738		168		100		1,906		2,006		1,084	1973	1997
233 Nacogdoches, TX		—		394		7,456		268		394		7,724		8,118		1,687	1991	2010
249 Nacogdoches, TX		—		1,015		11,109		—		1,015		11,109		12,124		2,684	2007	2011
046 Norwalk, IA		—		47		1,033		239		47		1,272		1,319		826	1975	1996
176 Olathe, KS		—		520		1,872		313		520		2,185		2,705		1,288	1968	1999
251 Pasadena, TX		—		1,155		14,345		522		1,155		14,867		16,022		2,115	2005	2011
210 Phoenix, AZ		—		334		3,383		456		334		3,839		4,173		1,686	1982	2004
193 Phoenix, AZ		—		300		9,703		92		300		9,795		10,095		5,098	1985	2000
047 Polk City, IA		—		63		1,376		153		63		1,529		1,592		967	1976	1996
094 Portland, OR		—		100		1,925		2,652		100		4,577		4,677		2,737	2007	1997
254 Red Oak, TX		—		1,427		17,173		—		1,427		17,173		18,600		2,448	2002	2012
124 Richland Hills, TX		—		144		1,656		427		144		2,083		2,227		1,072	1976	2001
197 Ripley, TN		—		20		985		1,638		20		2,623		2,643		850	2014	2000

LTC PROPERTIES, INC.

SCHEDULE III

REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

(in thousands)


							Costs
							capitalized		Gross amount at which carried at
			Initial cost to company				subsequent		December 31, 2016
					Building and		to				Building and				Accum		Construction/	Acquisition
	Encumbrances		Land		improvements		acquisition		Land		improvements		Total(1)		deprec.		renovation date	date
133 Roswell, NM	$	—	$	568	$	5,235	$	1,396	$	568	$	6,631	$	7,199	$	2,310	1975	2001
081 Sacramento, CA		—		220		2,929		1,481		220		4,410		4,630		1,960	2015	1997
085 Salina, KS		—		100		1,153		628		100		1,781		1,881		1,114	1985	1997
281 Slinger, WI		—		464		13,482		—		464		13,482		13,946		976	2014	2015
234 St. Petersburg, FL		—		1,070		7,930		500		1,070		8,430		9,500		1,671	1988	2010
243 Stephenville, TX		—		670		10,117		500		670		10,617		11,287		2,032	2009	2010
225 Tacoma, WA		—		723		6,401		901		723		7,302		8,025		2,717	2009	2006
178 Tappahannock, VA		—		375		1,327		397		375		1,724		2,099		1,438	1978	1995
270 Trinity, FL		—		1,653		12,748		—		1,653		12,748		14,401		1,306	2008	2013
192 Tucson, AZ		—		276		8,924		112		276		9,036		9,312		4,697	1992	2000
299 Weatherford, TX		—		836		11,902		—		836		11,902		12,738		606	1996	2015
Skilled Nursing Properties		—		48,196		441,762		45,828		48,196		487,590		535,786		133,250
Assisted Living Properties:
077 Ada, OK		—		100		1,650		—		100		1,650		1,750		845	1996	1996
136 Arlington, OH		—		629		6,973		—		629		6,973		7,602		2,695	1993	2001
105 Arvada, CO		—		100		2,810		6,960		100		9,770		9,870		2,226	2014	1997
304 Athens, GA		—		1,056		13,326		—		1,056		13,326		14,382		214	2016	2016
063 Athens, TX		—		96		1,510		66		96		1,576		1,672		824	1995	1996
269 Aurora, CO		—		850		8,583		—		850		8,583		9,433		783	2014	2013
260 Aurora, CO		—		831		10,071		—		831		10,071		10,902		1,213	1999	2012
203 Bakersfield, CA		—		834		11,986		812		834		12,798		13,632		5,497	2002	2001
117 Beatrice, NE		—		100		2,173		140		100		2,313		2,413		1,075	1997	1997
137 Bexley, OH		—		306		4,196		—		306		4,196		4,502		1,623	1992	2001
277 Burr Ridge, IL		—		1,400		11,102		—		1,400		11,102		12,502		353	2016	2014
278 Castle Rock, CO		—		759		9,041		—		759		9,041		9,800		420	2012	2014
160 Central, SC		—		100		2,321		—		100		2,321		2,421		949	1998	1999
263 Chatham, NJ		—		5,365		36,399		—		5,365		36,399		41,764		4,198	2002	2012
279 Corpus Christi, TX		—		880		11,369		—		880		11,369		12,249		267	2016	2015
292 De Forest, WI		—		485		5,568		4		485		5,572		6,057		241	2006	2015
156 Denison, IA		—		100		2,713		207		100		2,920		3,020		1,285	1998	1998
057 Dodge City, KS		—		84		1,666		4		84		1,670		1,754		914	1995	1995
083 Durant, OK		—		100		1,769		—		100		1,769		1,869		890	1997	1997
107 Edmond, OK		—		100		1,365		526		100		1,891		1,991		931	1996	1997
122 Elkhart, IN		—		100		2,435		41		100		2,476		2,576		1,183	1997	1997
155 Erie, PA		—		850		7,477		—		850		7,477		8,327		3,530	1998	1999
163 Ft. Collins, CO		—		100		2,961		3,405		100		6,366		6,466		1,734	2014	1999
170 Ft. Collins, CO		—		100		3,400		4,622		100		8,022		8,122		1,931	2014	1999
132 Ft. Meyers, FL		—		100		2,728		9		100		2,737		2,837		1,305	1998	1998
230 Ft. Wayne, IN		—		594		3,461		731		594		4,192		4,786		1,110	1996	2009
229 Ft. Worth, TX		—		333		4,385		1,028		333		5,413		5,746		1,797	2009	2008
100 Fremont ,OH		—		100		2,435		69		100		2,504		2,604		1,213	1997	1997
267 Frisco, TX		—		1,000		5,154		—		1,000		5,154		6,154		516	2014	2012
167 Goldsboro, NC		—		100		2,385		1		100		2,386		2,486		908	1998	1999
056 Great Bend, KS		—		80		1,570		21		80		1,591		1,671		962	1995	1995
102 Greeley, CO		—		100		2,310		270		100		2,580		2,680		1,268	1997	1997
284 Green Bay, WI		—		1,660		19,079		56		1,660		19,135		20,795		878	2004	2015
164 Greenville, NC		—		100		2,478		2		100		2,480		2,580		1,061	1998	1999
062 Greenville, TX		—		42		1,565		47		42		1,612		1,654		849	1995	1996
161 Greenwood, SC		—		100		2,638		—		100		2,638		2,738		1,154	1998	1999
241 Gulf Breeze, FL		—		720		3,780		261		720		4,041		4,761		815	2000	2010
295 Jacksonville, FL		—		1,389		12,756		—		1,389		12,756		14,145		422	2015	2015
066 Jacksonville, TX		—		100		1,900		31		100		1,931		2,031		1,020	1996	1996
285 Kenosha, WI		—		936		12,361		70		936		12,431		13,367		456	2008	2015
255 Littleton, CO		—		1,882		8,248		—		1,882		8,248		10,130		1,024	2013	2012
268 Littleton, CO		—		1,200		8,688		—		1,200		8,688		9,888		921	2014	2013
148 Longmont, CO		—		100		2,640		—		100		2,640		2,740		1,248	1998	1998
060 Longview, TX		—		38		1,568		93		38		1,661		1,699		866	1995	1995
261 Louisville, CO		—		911		11,703		—		911		11,703		12,614		1,379	2000	2012
301 Louisville, KY		—		1,021		13,157		—		1,021		13,157		14,178		235	2016	2016
114 Loveland, CO		—		100		2,865		270		100		3,135		3,235		1,526	1997	1997
068 Lufkin, TX		—		100		1,950		58		100		2,008		2,108		1,043	1996	1996

LTC PROPERTIES, INC.

SCHEDULE III


						Costs
						capitalized		Gross amount at which carried at
			Initial cost to company			subsequent		December 31, 2016
					Building and	to				Building and				Accum		Construction/	Acquisition
	Encumbrances		Land		improvements	acquisition		Land		improvements		Total(1)		deprec.		renovation date	date
119 Madison, IN		—		100	2,435		207		100		2,642		2,742		1,204	1997	1997
061 Marshall, TX		—		38	1,568		503		38		2,071		2,109		1,108	1995	1995
293 McHenry, IL		—		1,289	28,976		45		1,289		29,021		30,310		1,200	2005	2015
058 McPherson, KS		—		79	1,571		4		79		1,575		1,654		952	1994	1995
239 Merritt Island, FL		—		550	8,150		100		550		8,250		8,800		1,604	2004	2010
104 Millville, NJ		—		100	2,825		645		100		3,470		3,570		1,407	1997	1997
286 Milwaukee, WI		—		818	8,014		25		818		8,039		8,857		346	2007	2015
231 Monroeville, PA		—		526	5,334		435		526		5,769		6,295		1,352	1997	2009
280 Murrells Inlet, SC		—		2,490	13,000		—		2,490		13,000		15,490		122	2016	2015
294 Murrieta, CA		—		2,022	10,666		—		2,022		10,666		12,688		124	2016	2015
289 Neenah, WI		—		694	20,839		115		694		20,954		21,648		840	1991	2015
166 New Bern, NC		—		100	2,427		1		100		2,428		2,528		943	1998	1999
118 Newark, OH		—		100	2,435		182		100		2,617		2,717		1,197	1997	1997
074 Newport, OR		—		621	2,050		—		621		2,050		2,671		1,290	1996	1996
143 Niceville, FL		—		100	2,680		—		100		2,680		2,780		1,267	1998	1998
095 Norfolk, NE		—		100	2,123		33		100		2,156		2,256		1,061	1997	1997
290 Oshkosh, WI		—		1,525	9,192		34		1,525		9,226		10,751		768	2009	2015
291 Oshkosh, WI		—		475	7,364		39		475		7,403		7,878		310	2005	2015
302 Overland Park, KS		—		2,297	11,882		—		2,297		11,882		14,179		220	2013	2016
232 Pittsburgh, PA		—		470	2,615		333		470		2,948		3,418		763	1994	2009
165 Rocky Mount, NC		—		100	2,494		1		100		2,495		2,595		997	1998	1999
141 Rocky River, OH		—		760	6,963		—		760		6,963		7,723		3,242	1998	1999
059 Salina, KS		—		79	1,571		4		79		1,575		1,654		952	1994	1995
084 San Antonio, TX		—		100	1,900		—		100		1,900		2,000		955	1997	1997
092 San Antonio, TX		—		100	2,055		—		100		2,055		2,155		1,027	1997	1997
288 Sheboygan, WI		—		1,168	5,382		—		1,168		5,382		6,550		258	2006	2015
149 Shelby, NC		—		100	2,805		2		100		2,807		2,907		1,326	1998	1998
150 Spring Hill, FL		—		100	2,650		—		100		2,650		2,750		1,253	1998	1998
103 Springfield, OH		—		100	2,035		270		100		2,305		2,405		1,131	1997	1997
162 Sumter, SC		—		100	2,351		—		100		2,351		2,451		986	1998	1999
140 Tallahassee, FL		—		100	3,075		—		100		3,075		3,175		1,457	1998	1998
098 Tiffin, OH		—		100	2,435		43		100		2,478		2,578		1,207	1997	1997
282 Tinley Park, IL		—		702	11,481		—		702		11,481		12,183		210	2016	2015
088 Troy, OH		—		100	2,435		541		100		2,976		3,076		1,371	1997	1997
080 Tulsa, OK		—		200	1,650		—		200		1,650		1,850		839	1997	1997
093 Tulsa, OK		—		100	2,395		—		100		2,395		2,495		1,193	1997	1997
238 Tupelo, MS		—		1,170	8,230		30		1,170		8,260		9,430		1,699	2000	2010
075 Tyler, TX		—		100	1,800		—		100		1,800		1,900		920	1996	1996
202 Vacaville, CA		—		1,662	11,634		1,141		1,662		12,775		14,437		5,441	2002	2001
091 Waco, TX		—		100	2,235		—		100		2,235		2,335		1,115	1997	1997
096 Wahoo, NE		—		100	2,318		50		100		2,368		2,468		1,153	1997	1997
108 Watauga, TX		—		100	1,668		—		100		1,668		1,768		827	1996	1997
287 Waukesha, WI		—		992	15,183		111		992		15,294		16,286		561	2009	2015
109 Weatherford, OK		—		100	1,669		592		100		2,261		2,361		1,110	1996	1997
276 Westminster, CO		—		1,425	9,575		—		1,425		9,575		11,000		707	2015	2013
110 Wheelersburg, OH		—		29	2,435		123		29		2,558		2,587		1,197	1997	1997
303 Wichita, KS		—		1,422	9,957		—		1,422		9,957		11,379		188	2011	2016
259 Wichita, KS		—		730	—		9,682		730		9,682		10,412		1,278	2013	2012
283 Wichita, KS		—		624	13,131		—		624		13,131		13,755		29	2016	2015
076 Wichita Falls, TX		—		100	1,850		—		100		1,850		1,950		945	1996	1996
120 Wichita Falls, TX		—		100	2,750		100		100		2,850		2,950		1,364	1997	1997
265 Williamstown, NJ		—		711	6,637		—		711		6,637		7,348		858	2000	2012
264 Williamstown, NJ		—		711	8,649		—		711		8,649		9,360		1,011	2000	2012
138 Worthington, OH		—		—	6,102		—		—		6,102		6,102		5,732	1993	2001
139 Worthington, OH		—		—	3,402		—		—		3,402		3,402		3,201	1995	2001
099 York, NE		—		100	2,318		40		100		2,358		2,458		1,153	1997	1997
Assisted Living Properties		—		57,010	606,034		35,235		57,010		641,269		698,279		126,768
Range of Care Properties:
199 Brownsville, TX (2)		—		302	1,089		835		302		1,924		2,226		1,058	2010	2004
168 Des Moines, IA		—		115	2,096		1,433		115		3,529		3,644		1,955	1972	1999
26A Gardendale, AL		—		100	7,550		2,084		100		9,634		9,734		5,209	2011	1996
194 Holyoke, CO		—		211	1,513		283		211		1,796		2,007		1,020	1963	2000
245 Newberry, SC		—		439	4,639		608		439		5,247		5,686		1,358	1995	2011
244 Newberry, SC		—		919	5,454		131		919		5,585		6,504		1,251	2001	2011
236 Wytheville, VA		—		647	12,692		—		647		12,692		13,339		3,743	1996	2010
Range of Care Properties		—		2,733	35,033		5,374		2,733		40,407		43,140		15,594

LTC PROPERTIES, INC.

SCHEDULE III

REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

(in thousands)


							Costs
							capitalized		Gross amount at which carried at
			Initial cost to company				subsequent		December 31, 2016
					Building and		to				Building and					Accum		Construction/	Acquisition
	Encumbrances		Land		improvements		acquisition		Land		improvements		Total(1)			deprec.		renovation date	date
Other:
Properties:
297 Las Vegas, NV		—		1,965		7,308		—		1,965		7,308		9,273			249	1990/1994	2015
Properties		—		1,965		7,308		—		1,965		7,308		9,273			249
Land:
271 Howell, MI		—		420		—		—		420		—		420			—	N/A	2013
275 Yale, MI		—		73		—		—		73		—		73			—	N/A	2013
999 Milford, MI		—		450		—		—		450		—		450			—	N/A	2014
Land		—		943		—		—		943		—		943			—
Other Properties		—		2,908		7,308		—		2,908		7,308		10,216			249
Properties Under Development:
305 Union, KY		—		858		5,046		—		858		5,046		5,904			—	N/A	2016
296 Glenview, IL		—		2,800		3,186		—		2,800		3,186		5,986			—	N/A	2015
306 Oaklawn, IL		—		1,591		661		—		1,591		661		2,252			—	N/A	2016
Properties Under Development		—		5,249		8,893		—		5,249		8,893		14,142			—
	$	—	$	116,096	$	1,099,030	$	86,437	$	116,096	$	1,185,467	$	1,301,563	(3)	$	275,861

⁽¹⁾

Depreciation is computed principally by the straight‑line method for financial reporting purposes which generally range of a life from 3 to 15 years for furniture and equipment, 35 to 50 years for buildings, 10 to 20 years for building improvements and the respective lease term for acquired lease intangibles.

⁽²⁾

Subsequent to December 31, 2016, we entered into a contingent purchase and sale agreement to sell an 85-unit ROC in Texas for $1,200. Accordingly, we recorded an impairment charge of $766 to write the property down to its estimated sale price at December 31, 2016.

⁽³⁾

As of December 31, 2016, our aggregate cost for Federal income tax purposes was $1,318,462.

LTC PROPERTIES, INC.

SCHEDULE III

REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

(in thousands)

Activity for the years ended December 31, 2016, 2015 and 2014 is as follows:


	For the Year Ended December 31,
	2016		2015		2014
Reconciliation of real estate:
Carrying cost:
Balance at beginning of period	$	1,198,686	$	949,838	$	937,617
Acquisitions		74,923		206,340		11,650
Improvements		49,134		33,463		48,102
Conversion of mortgage loans into owned properties		—		10,600		—
Capitalized interest		1,408		827		1,506
Other non-cash items (See Note 4)		2,460		2,882		304
Conveyed land (See Note 4)		—		(670)		—
Cost of real estate sold		(24,282)		(2,344)		(49,341)
Impairment on real estate for sale		(766)		(2,250)		—
Ending balance	$	1,301,563	$	1,198,686	$	949,838
Accumulated depreciation:
Balance at beginning of period	$	251,265	$	223,315	$	218,700
Depreciation expense		35,809		29,329		25,424
Cost of real estate sold		(11,213)		(1,379)		(20,809)
Ending balance	$	275,861	$	251,265	$	223,315