Strawberry Fields REIT, Inc. Completes Acquisition of Eight Healthcare Facilities in Missouri

On December 20, 2024, Strawberry Fields REIT, Inc. (NYSEAMERICAN: STRW) announced the successful acquisition of eight healthcare facilities situated in Missouri. These facilities, consisting of a total of 1,111 beds, were purchased for a total of $87,500,000. The acquisition was finalized on December 19, 2024. The previously disclosed Purchase and Sale Agreement signed by the company with GAHC4 Kansas City MO SNF, LLC and several other entities led to this completion.

The facilities are presently leased under a master lease agreement to a group of third-party tenants. These tenants currently operate the facilities as skilled nursing facilities and are leased out under a triple-net basis. The master lease, now in its sixth year, allows the tenants two ten-year options to extend the lease without any modifications to its material terms due to the purchase of the facilities.

To cover the acquisition cost, newly organized indirect subsidiaries of Strawberry Fields Realty, LP, the operating partnership of the company, utilized funds provided by a third-party lender along with the company’s existing working capital. The acquisition represents a strategic growth move for Strawberry Fields REIT.

In a statement regarding the acquisition, Moishe Gubin, the Chairman & CEO of Strawberry Fields REIT, expressed enthusiasm, stating that the Missouri acquisition introduces a strong local operator to the company’s portfolio and embodies the kind of growth opportunities the company aims for, setting the stage for similar transactions in the future.

Strawberry Fields REIT, Inc. is a real estate investment trust focusing on the ownership, acquisition, development, and leasing of skilled nursing and other healthcare-related properties. Their current portfolio comprises 123 healthcare facilities with a total of over 14,000 beds spread across several states in the U.S.

Investors and stakeholders can expect further financial information and pro forma details following this acquisition, as the company plans to file the necessary financial statements and exhibits in due course, as detailed in the 8-K filing submitted to the Securities and Exchange Commission on December 20, 2024.

The company also issued a press release highlighting the completion of the acquisition on the same day, emphasizing its commitment to disciplined growth strategies and expansion within the healthcare real estate sector.

For additional information or investor inquiries, Strawberry Fields REIT can be reached at [email protected] or +1 (773) 747-4100 x422.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Strawberry Fields REIT’s 8K filing here.

About Strawberry Fields REIT

Strawberry Fields REIT, Inc, is a self-administered real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing and certain other healthcare-related properties. The Company's portfolio includes 109 healthcare facilities with an aggregate of 12,449 bed, located throughout the states of Arkansas, Illinois, Indiana, Kentucky, Michigan, Ohio, Oklahoma, Tennessee and Texas.