September 6, 2018
South Bend, IN-based Strawberry Fields REIT LLC acquired nine skilled nursing facilities located in Arkansas, and one facility located in Kentucky in two separate deals. The combined purchase price was $42.4 million, and Strawberry Fields financed the acquisition with the issuance of $33 million in secured corporate debt.
The portfolio of nine properties was acquired from The Skyline Group. The buildings are expected to be leased in a master lease to entities consulted by Infinity of Arkansas, and are expected to be branded under the “Waters” brand. The single property in Kentucky was purchased from a not for profit entity, and was added to the existing master lease Strawberry Fields already has with the Landmark Group. Both groups are long-time operators of Strawberry Fields.
The Arkansas properties include 1,004 skilled nursing beds, and are spread across the state. The Kentucky property has 120 beds, and is located in Louisville.
Connect Healthcare is slated for October 29 and 30 at The Resort at Pelican Hill. Follow this link for more information and to register for the conference.
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