Justin Knapp and Nick Stahler of the Knapp-Stahler Group at Marcus & Millichap were engaged in the sale of a portfolio featuring eight dually-certified facilities across northern Missouri. Licensed for skilled nursing and operating as behavioral health centers, the portfolio includes a total of 1,111 beds spanning from Kansas City to St. Louis. The properties were acquired by Strawberry Fields REIT for $87.5 million, or $79,000 per bed.
The facilities are currently leased under a master lease agreement to a group of third-party tenants. Under that master lease, the tenant currently pays annual rent on a triple net basis. Strawberry Fields utilized current working capital and funds provided by a third-party lender to purchase the facilities.
