NEWS
Strawberry Fields REIT Announces Acquisition of Skilled Nursing/Assisted Living Facility for $6.7 Million
SOUTH BEND, IN / ACCESSWIRE / September 26, 2024 / Strawberry Fields REIT, Inc. (NYSE:STRW) (the "Company") today announced, it completed the acquisition of an 83-bed Skilled Nursing Facility and 28-room Assisted Living Facility for $6.7 million located in Gainesboro, Tennessee.
The facility was added to an existing Infinity of Tennessee Master Lease. The acquisition will increase the Company's annual rents by $670 thousand and is subject to 3% annual increases.
This acquisition marks the 15th facility for the Company in Tennessee.
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 113 healthcare facilities with an aggregate of 12,800+ beds, located throughout the states of Arkansas, Illinois, Indiana, Kentucky, Michigan, Ohio, Oklahoma, Tennessee and Texas. The 113 healthcare facilities comprise 103 skilled nursing facilities, eight assisted living facilities, and two long-term acute care hospitals.
Safe Harbor Statement
Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Those forward-looking statements include all statements that are not historical statements of fact and those regarding our intent, belief or expectations, including, but not limited to, statements regarding: future financing plans, business strategies, growth prospects and operating and financial performance; expectations regarding the making of distributions and the payment of dividends; and compliance with and changes in governmental regulations.
The facility was added to an existing Infinity of Tennessee Master Lease. The acquisition will increase the Company's annual rents by $670 thousand and is subject to 3% annual increases.
This acquisition marks the 15th facility for the Company in Tennessee.
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 113 healthcare facilities with an aggregate of 12,800+ beds, located throughout the states of Arkansas, Illinois, Indiana, Kentucky, Michigan, Ohio, Oklahoma, Tennessee and Texas. The 113 healthcare facilities comprise 103 skilled nursing facilities, eight assisted living facilities, and two long-term acute care hospitals.
Safe Harbor Statement
Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Those forward-looking statements include all statements that are not historical statements of fact and those regarding our intent, belief or expectations, including, but not limited to, statements regarding: future financing plans, business strategies, growth prospects and operating and financial performance; expectations regarding the making of distributions and the payment of dividends; and compliance with and changes in governmental regulations.
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