Strawberry Fields REIT grew its portfolio yet again, with the purchase of a 72-bed skilled nursing facility in Muncie, Indiana (Indianapolis MSA), pushing the REIT’s total SNF holdings to over 70 facilities. Strawberry Fields is no stranger to this property, having been leasing and subletting it from the previous landlord since November 2011. They picked […]
Strawberry Fields REIT continues to grow its skilled nursing holdings, and did so in a big way this month, by acquiring a large 231-bed SNF in Des Plaines, Illinois. That facility has had a somewhat checkered past. Originally built in 1975, it was acquired by a Catholic not-for-profit hospital and skilled nursing provider in May […]
Skyline Healthcare just sold three of its Arkansas skilled nursing facilities to Strawberry Fields REIT for a combined price of $14.3 million, or $32,200 per bed, at an approximate cap rate of 10.7%, based on Q1:19 financials, annualized. Included in the deal was a 120-bed SNF in Newport, the newest of the facilities having been […]
Strawberry Fields REIT entered the state of Arkansas in a big way, acquiring nine skilled nursing facilities in the state from one seller, plus one Kentucky facility from another. Totaling 1,004 beds, the facilities were owned by The Skyline Group, which acquired them from AdCare Health Systems, Inc. in October 2016 for $55 million, or […]
Kentucky’s largest not-for-profit senior living and long-term care provider, Christian Care Communities, worked with Ben Firestone and Michael Segal of Blueprint Healthcare Real Estate Advisors to sell its 92-bed skilled nursing facility in Louisville. Ideally located near multiple hospitals and other referral sources, the facility was originally built in 1962, but was recently renovated in […]
South Bend, Indiana-based Strawberry Fields REIT continued its steady growth with the addition of a large 252-bed skilled nursing facility in Louisville, Kentucky to its portfolio, for a price of $21.8 million, or $86,500 per bed. A $15 million loan from Bank Leumi helped facilitate the transaction. The facility was built in 1973 by a […]
Strawberry Fields REIT just added a 58th skilled nursing facility to its growing portfolio, at a price of $1.0 million, or $15,625 per bed, in cash. The company bought the 64-bed facility in Lebanon, Indiana and leased it to The Waters under a 10-year term with two five-year extensions. Strawberry Fields certainly got a good […]