Skilled Nursing News December 23, 2024
Strawberry Fields Buys 6 Facilities in Kansas for $24M
Strawberry Fields REIT (NYSE American: STRW) purchased six long-term care facilities in Kansas for $24 million using current working capital, consisting of five nursing homes and one assisted living property.
All 354 licensed beds will be leased to Advena Living, led by Willie Novotny, its founder. The lease covers an initial 10-year period and includes two 5-year tenant options on a triple-net basis, the REIT said in a statement.
The lease will increase annual rents by $2.4 million and is subject to 3% annual increases. Strawberry Fields anticipates closing on the acquisition prior to year-end but makes no assurances.
The REIT’s portfolio currently consists of 123 health care properties across 10...
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