Strawberry Fields REIT Enters Into Agreement for Six Healthcare Facilities Located in Kansas

SOUTH BEND, IN / ACCESSWIRE / December 23, 2024 / (NYSE:STRW) On December 20, 2024, Strawberry Fields REIT, Inc. (the "Company") entered into a Purchase and Sale Agreement with an unaffiliated seller with respect to six Healthcare Facilities located in Kansas (the "Facilities"). The purchase price for the Facilities is $24,000,000, payable at the closing.

The six facilities are comprised of five skilled nursing facilities and one assisted living facility with 354 licensed beds.

The facilities will be leased to Advena Living led by its founder Willie Novotny. The lease is for an initial 10-year period and includes two 5-year tenant options on a triple-net basis. Additionally, the lease will increase the Company's annual rents by $2.4 million and is subject to 3% annual increases.

The Company plans to purchase the facilities utilizing the Company's current working capital.

The Company anticipates closing the acquisition before year-end; 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 123 healthcare facilities with an aggregate of 14,000+ beds, located throughout the states of Arkansas, Illinois, Indiana, Kentucky, Michigan, Missouri, Ohio, Oklahoma, Tennessee and Texas. The 123 healthcare facilities comprise 112 skilled nursing facilities, nine assisted living facilities, and two long-term acute care hospitals.

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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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