Strawberry Fields REIT Enters Into Agreement For Nine Healthcare Facilities Located In Missouri

SOUTH BEND, IN / ACCESS Newswire / May 28, 2025 / (NYSE:STRW) On May 22, 2025, Strawberry Fields REIT, Inc. (the "Company") entered into a Purchase and Sale Agreement with an unaffiliated seller with respect to nine Healthcare Facilities located in Missouri (the "Facilities"). The purchase price for the Facilities, including certain consulting fees, is $59,000,000, payable at the closing.

The nine skilled nursing facilities are comprised of 686 licensed beds.

The Company plans to pay the purchase price utilizing the Company's current working capital and funds provided by a third-party lender.

Eight of the facilities will be leased to the Tide Group ("Tide") led by its founder and CEO Brian Ramos. The eight facilities will be added to the master lease the Company entered into in August 2024. The master lease will remain materially unchanged other than resetting the lease expiration for a new 10-year period and includes two 5-year tenant options. Additionally, the lease will increase the Company's annual rents by $5.5 million and is subject to 3% annual increases.

The ninth facility will be leased to an affiliate of Reliant Care Group L.L.C. ("Reliant"). The facility will be added to the master lease the Company assumed in December 2024. The master lease will remain materially unchanged other than resetting the lease expiration for a 15-year period and includes two 10-year tenant options. Additionally, the lease will increase the Company's annual rents by $0.6 million and is subject to 3% annual increases.

The Company anticipates closing the on or before July 1, 2025; however, we can give no assurance that the closing will occur within this timeframe, or at all.

About Strawberry Fields REIT

Strawberry Fields REIT, Inc., is a self-administered real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing and certain other healthcare- related properties. The Company's portfolio includes 132 healthcare facilities with an aggregate of 14,750+ bed, located throughout the states of Arkansas, Illinois, Indiana, Kansas, Kentucky, Michigan, Missouri, Ohio, Oklahoma, Tennessee and Texas. The 132 healthcare facilities comprise 120 skilled nursing facilities, 10 assisted living facilities, and two long-term acute care hospitals.

Safe Harbor Statement

Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Those forward-looking statements include all statements that are not historical statements of fact and those regarding our intent, belief or expectations, including, but not limited to, statements regarding: future financing plans, business strategies, growth prospects and operating and financial performance; expectations regarding the making of distributions and the payment of dividends; and compliance with and changes in governmental regulations.

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Forward-looking statements speak only as of the date of this press release. Except in the normal course of our public disclosure obligations, we expressly disclaim any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any statement is based.

Investor Relations:

Strawberry Fields REIT, Inc.
[email protected]
+1 (773) 747-4100 x422

SOURCE: Strawberry Fields REIT Inc.

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