Skilled Nursing News September 4, 2024
Strawberry Fields REIT completed two separate acquisitions totaling $19.25 million of four Skilled Nursing Facilities (SNF) located in Tennessee and Texas.
The acquisition of the Texas facilities for $15.25 million included a 75-bed SNF located in Hondo and 179-bed SNF located in Kerrville, the real estate investment trust (REIT) said in a press release Tuesday.
Both these facilities will be leased to the Tide Group led by its founder Brian Ramos. The lease is for an initial 10-year period and includes two 5-year tenant options on a triple-net basis, effective September 1. The lease will increase the REIT’s annual rents by $1.525 million and is subject to 3% annual increases.
The Tennessee acquisition for $4 million included a 67-bed SNF...
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