Strawberry Fields REIT Announces Acquisition of 4 Skilled Nursing Facilities for $19.25MM
Strawberry Fields REIT (NYSE AMERICAN:STRW) has completed two separate acquisitions of four Skilled Nursing Facilities (SNFs) for a total of $19.25 million. The first acquisition, valued at $15.25 million, includes two SNFs in Texas with a combined 254 beds. These facilities will be leased to the Tide Group for an initial 10-year period, increasing the Company's annual rents by $1.525 million. The second acquisition, worth $4 million, comprises two SNFs in Tennessee with a total of 248 beds. This acquisition will increase annual rents by $400,000. Both leases are subject to 3% annual increases.
CEO Moishe Gubin expressed enthusiasm for the acquisitions, highlighting the company's growth in Tennessee and Texas. The transactions are expected to contribute positively to Strawberry Fields REIT's portfolio and rental income.
Strawberry Fields REIT (NYSE AMERICAN:STRW) ha completato due distinti acquisizioni di quattro Strutture di Assistenza Qualificata (SNF) per un totale di 19,25 milioni di dollari. La prima acquisizione, valutata 15,25 milioni di dollari, comprende due SNF in Texas con un totale di 254 letti. Queste strutture saranno affittate al Tide Group per un periodo iniziale di 10 anni, aumentando gli affitti annuali dell'azienda di 1,525 milioni di dollari. La seconda acquisizione, del valore di 4 milioni di dollari, consiste in due SNF nel Tennessee con un totale di 248 letti. Questa acquisizione aumenterà gli affitti annuali di 400.000 dollari. Entrati i contratti di affitto sono soggetti a un aumento annuale del 3%.
Il CEO Moishe Gubin ha espresso entusiasmo per le acquisizioni, evidenziando la crescita dell'azienda nel Tennessee e in Texas. Si prevede che le transazioni contribuiranno positivamente al portafoglio e al reddito da affitto di Strawberry Fields REIT.
Strawberry Fields REIT (NYSE AMERICAN:STRW) ha completado dos adquisiciones separadas de cuatro Instalaciones de Atención Especializada (SNFs) por un total de 19.25 millones de dólares. La primera adquisición, valorada en 15.25 millones de dólares, incluye dos SNFs en Texas con un total de 254 camas. Estas instalaciones serán arrendadas al Tide Group por un período inicial de 10 años, aumentando los ingresos anuales de alquiler de la compañía en 1.525 millones de dólares. La segunda adquisición, con un valor de 4 millones de dólares, comprende dos SNFs en Tennessee con un total de 248 camas. Esta adquisición aumentará los ingresos anuales de alquiler en 400.000 dólares. Ambos arrendamientos están sujetos a aumentos anuales del 3%.
El CEO Moishe Gubin expresó entusiasmo por las adquisiciones, destacando el crecimiento de la empresa en Tennessee y Texas. Se espera que las transacciones contribuyan positivamente al portafolio y a los ingresos de alquiler de Strawberry Fields REIT.
스트로베리 필드 REIT (NYSE AMERICAN:STRW)는 총 1,925만 달러에 네 개의 숙련 간호 시설(SNF)을 두 차례에 걸쳐 인수 완료했습니다. 첫 번째 인수는 1,525만 달러로 평가되며, 텍사스에 위치한 두 개의 SNF를 포함하고 있으며, 총 254개의 침대가 있습니다. 이 시설들은 타이드 그룹에 처음 10년 동안 임대될 예정이며, 회사의 연간 임대료를 152만 5천 달러 증가시킬 것입니다. 두 번째 인수는 400만 달러 가치의 두 개의 SNF로 구성되어 있으며, 테네시에 위치해 총 248개의 침대가 있습니다. 이 인수는 연간 임대료를 40만 달러 증가시킬 것입니다. 두 임대 계약 모두 연 3%의 증가가 적용됩니다.
CEO 모이쉐 구빈은 인수에 대한 열정을 표현하며 테네시와 텍사스에서의 회사 성장에 대해 강조했습니다. 이러한 거래는 스트로베리 필드 REIT의 포트폴리오와 임대소득에 긍정적인 기여를 할 것으로 예상됩니다.
Strawberry Fields REIT (NYSE AMERICAN:STRW) a réalisé deux acquisitions distinctes de quatre Établissements de Soins Qualifiés (SNF) pour un montant total de 19,25 millions de dollars. La première acquisition, d'une valeur de 15,25 millions de dollars, comprend deux SNF au Texas avec un total de 254 lits. Ces établissements seront loués au Tide Group pour une période initiale de dix ans, augmentant les loyers annuels de la société de 1,525 million de dollars. La deuxième acquisition, d'une valeur de 4 millions de dollars, se compose de deux SNF dans le Tennessee avec un total de 248 lits. Cette acquisition augmentera les loyers annuels de 400 000 dollars. Les deux baux sont soumis à des augmentations annuelles de 3%.
Le PDG Moishe Gubin a exprimé son enthousiasme pour ces acquisitions, soulignant la croissance de l'entreprise dans le Tennessee et au Texas. Les transactions devraient contribuer positivement au portefeuille et aux revenus locatifs de Strawberry Fields REIT.
Strawberry Fields REIT (NYSE AMERICAN:STRW) hat zwei separate Akquisitionen von vier Einrichtungen für qualifizierte Pflege (SNFs) für insgesamt 19,25 Millionen Dollar abgeschlossen. Die erste Akquisition, die mit 15,25 Millionen Dollar bewertet wird, umfasst zwei SNFs in Texas mit insgesamt 254 Betten. Diese Einrichtungen werden für einen anfänglichen Zeitraum von 10 Jahren an die Tide Group vermietet, wodurch die jährlichen Mieten des Unternehmens um 1,525 Millionen Dollar steigen. Die zweite Akquisition, die 4 Millionen Dollar wert ist, beinhaltet zwei SNFs in Tennessee mit insgesamt 248 Betten. Diese Akquisition wird die jährlichen Mieten um 400.000 Dollar erhöhen. Beide Mietverträge unterliegen jährlichen Erhöhungen von 3 %.
CEO Moishe Gubin äußerte Begeisterung über die Akquisitionen und hob das Wachstum des Unternehmens in Tennessee und Texas hervor. Es wird erwartet, dass die Transaktionen positiv zum Portfolio und den Mieteinnahmen von Strawberry Fields REIT beitragen.
- Acquisition of 4 Skilled Nursing Facilities for $19.25 million
- Increase in annual rents by $1.925 million
- Expansion in target markets of Tennessee and Texas
- Long-term lease agreements with 3% annual rent increases
- Addition of 502 beds to the company's portfolio
- None.
Insights
Strawberry Fields REIT's recent $19.25 million acquisition of four skilled nursing facilities (SNFs) is a strategic move that expands its portfolio in key markets. The deal structure, featuring triple-net leases and 3% annual rent increases, suggests a focus on stable, growing cash flows. With an immediate $1.925 million boost to annual rents, this acquisition could positively impact the REIT's funds from operations (FFO). However, investors should consider the potential risks in the SNF sector, such as regulatory changes and labor shortages. The company's ability to execute on its growth strategy and maintain high occupancy rates will be important for long-term success in this competitive healthcare real estate niche.
This acquisition aligns with Strawberry Fields REIT's growth strategy in the skilled nursing facility sector. The diverse geographic spread across Texas and Tennessee helps mitigate regional risks. The addition of 502 beds to their portfolio strengthens their market position. The mix of new and existing operator relationships demonstrates a balanced approach to tenant management. The 10-year initial lease term with options for the Texas properties provides long-term revenue visibility. However, the healthcare real estate market is evolving rapidly, with a shift towards home-based care. Investors should monitor how Strawberry Fields adapts to these trends and maintains the relevance of its SNF assets in the changing healthcare landscape.
Strawberry Fields REIT's expansion in Texas and Tennessee taps into markets with growing elderly populations, potentially driving demand for skilled nursing services. The $38,347 per bed acquisition cost (
SOUTH BEND, IN / ACCESSWIRE / September 3, 2024 / Strawberry Fields REIT, Inc. (NYSE AMERICAN:STRW) (the "Company") today announced, effective September 1st 2024, it completed two separate acquisitions for
The first acquisition for
75 bed SNF located in Hondo, TX.
179 bed SNF located in Kerrville, TX.
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. Additionally, the lease will increase the Company's annual rents by
The second acquisition for
67 bed SNF located in Kingsport, TN.
181 bed SNF located in Maryville, TN.
This acquisition was associated with a lease purchase option that the Company entered into on January 1, 2024. The Kingsport facility was added to an existing Infinity of Tennessee Master Lease and the Maryville facility was leased to a third party tenant. Collectively these facilities increased the Company's annual rents by
Moishe Gubin, the Company's Chairman & CEO, noted: "I am happy to announce the acquisition of these facilities. Tennessee and Texas are both states we have previously expressed interest in growing in and the Company continues to look for opportunities of future growth. I am also excited to welcome Brian and his team to our Strawberry Fields REIT family; we look forward to them succeeding in these facilities and growing with them on future opportunities."
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 112 healthcare facilities with an aggregate of 12,700+ beds, located throughout the states of Arkansas, Illinois, Indiana, Kentucky, Michigan, Ohio, Oklahoma, Tennessee and Texas. The 112 healthcare facilities comprise 102 skilled nursing facilities, eight assisted living facilities, and two long-term acute care hospitals.
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Investor Relations:
Strawberry Fields REIT, Inc.
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SOURCE: Strawberry Fields REIT LLC
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