Strawberry Fields REIT Acquires 83-Bed Skilled Nursing Facility and 28-Room Assisted Living Facility in Tennessee
Strawberry Fields REIT, Inc. has completed the acquisition of an 83-bed skilled nursing facility and a 28-room assisted living facility in Gainesboro, Tennessee, for $6.7 million. This acquisition adds to the company's existing Infinity of Tennessee Master Lease and marks the 15th facility in Tennessee for the company. The facility's acquisition is expected to increase the company's annual rents by $670,000 and is subject to 3% annual increases.
Key Takeaways:
- Strawberry Fields REIT, Inc. has acquired an 83-bed skilled nursing facility and a 28-room assisted living facility in Gainesboro, Tennessee, for $6.7 million.
- The acquisition marks the 15th facility in Tennessee for the company and is part of the existing Infinity of Tennessee Master Lease.
- The acquisition is expected to increase the company's annual rents by $670,000 and is subject to 3% annual increases.
- Strawberry Fields REIT, Inc. is a self-administered real estate investment trust that owns, acquires, develops, and leases skilled nursing and certain other healthcare-related properties.
- As of now, 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.
Statistics:
- $6.7 million: The purchase price of the 83-bed skilled nursing facility and the 28-room assisted living facility.
- $670,000: The expected annual rent increase from the acquisition.
- 3%: The annual increase rate for the acquired facility's rent.
- 15: The number of facilities acquired in Tennessee by Strawberry Fields REIT, Inc.
- 113: The total number of healthcare facilities owned by the company.
- 12,800+: The aggregate number of beds in the company's portfolio.
Sources:
- Strawberry Fields REIT, Inc. (Company Press Release, September 26, 2024)
- SEC Annual Report Form 10-K (2024)