Strawberry Fields REIT Acquires a Skilled Nursing Facility in Jackson, Kentucky
Strawberry Fields REIT (OTCQX:STRW) announced the acquisition of a skilled nursing facility in Jackson, Kentucky, expanding its footprint in the Midwest and South. The Landmark of Breathitt County Rehabilitation & Nursing Center, a 120-bed facility, is the only skilled nursing property in Breathitt County and was recently renovated in 2021. This acquisition is part of Strawberry Fields' strategy to enhance quality access to skilled nursing services. CEO Moishe Gubin highlighted confidence in the management capabilities of its tenant, A&M Healthcare Investments, further strengthening their partnership.
- Acquisition expands Strawberry Fields' footprint in the Midwest and Southern U.S.
- The facility is the only skilled nursing property in Breathitt County, increasing market presence.
- Recent renovations of the facility enhance its appeal and service quality.
- Strengthening partnership with A&M Healthcare Investments improves management capabilities.
- None.
SOUTH BEND, IN / ACCESSWIRE / January 10, 2023 / (OTCQX:STRW) - Strawberry Fields REIT, an owner and lessor of skilled nursing facilities, long-term acute care hospital facilities and assisted living facilities in the Midwestern and Southern U.S., today announced it has acquired a skilled nursing facility located in Jackson, Kentucky.
The Landmark of Breathitt County Rehabilitation & Nursing Center (formerly operated as the Nim Henson Geriatric Center) is a 120-bed facility that was built in 1971. The facility is the only skilled nursing property available in Breathitt County and was most recently renovated in 2021. A wide range of services and activities are available to residents, including crafting, gardening, and religious services. In addition, Landmark of Breathitt County is situated close to the Kentucky River Medical Center, a small regional acute hospital.
Upon purchase, the facility was added to the Landmark master lease. A&M Healthcare Investments, flags its subsidiary facilities primarily under the Landmark brand, and has been a Strawberry Fields tenant since 2017. The Landmark SNFs and LTACHs are in Kentucky, Texas, Oklahoma, Illinois, and Michigan.
"The acquisition of this property helps us expand our footprint and deliver on our goal to help provide access to quality skilled nursing services to the local residents in the markets we operate," commented Moishe Gubin, CEO of Strawberry Fields. "We are also pleased to add this property to the existing Landmark portfolio as we have the utmost confidence in their ability to manage and improve performance."
Strawberry Fields is known as an active investor, working closely with lessees to ensure the quality of the facilities they own. "We maintain good contact with our operators, visit the facilities we own regularly and continually monitor to ensure compliance with state laws," added Gubin. "Additionally, we are pleased to expand our relationship with Landmark through this new acquisition."
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SOURCE: Strawberry Fields REIT
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