Strawberry Fields REIT Completes the Acquisition of Eight Healthcare Facilities Located in Missouri
Strawberry Fields REIT (NYSE AMERICAN:STRW) has completed the acquisition of eight healthcare facilities in Missouri for $87.5 million. The facilities, comprising 1,111 beds, are currently leased to third-party tenants under an existing master lease agreement generating $8.9 million in annual rent on a triple net basis. This marks the company's first entry into Missouri, expanding its geographical footprint with a strong local third-party operator. The company views this as a model acquisition that aligns with their disciplined growth strategy.
Strawberry Fields REIT (NYSE AMERICAN:STRW) ha completato l'acquisizione di otto strutture sanitarie in Missouri per 87,5 milioni di dollari. Le strutture, che comprendono 1.111 letti, sono attualmente affittate a terzi nell'ambito di un contratto di locazione principale esistente, generando 8,9 milioni di dollari di affitto annuale su base triple net. Questo segna l'ingresso della società in Missouri, ampliando la sua presenza geografica con un forte operatore locale di terze parti. La società considera questa acquisizione un modello che si allinea con la sua strategia di crescita disciplinata.
Strawberry Fields REIT (NYSE AMERICAN:STRW) ha completado la adquisición de ocho instalaciones de atención médica en Missouri por 87,5 millones de dólares. Las instalaciones, que comprenden 1,111 camas, están actualmente arrendadas a inquilinos de terceros bajo un contrato de arrendamiento maestro existente, generando 8,9 millones de dólares en alquiler anual en una base de triple neto. Esto marca la primera entrada de la empresa en Missouri, expandiendo su huella geográfica con un sólido operador local de terceros. La empresa ve esto como una adquisición modelo que se alinea con su estrategia de crecimiento disciplinada.
스트로베리 필드 REIT (NYSE AMERICAN:STRW)는 미주리에서 8750만 달러에 8개의 의료 시설을 인수했습니다. 이 시설은 총 1,111개의 침대를 포함하며, 현재 기존의 마스터 임대 계약에 따라 제3자 임차인에게 임대되고 있어 연간 890만 달러의 임대 수익을 발생시키고 있습니다. 이는 회사가 미주리에 처음 진출하는 것으로, 강력한 지역 제3자 운영자를 통해 지리적 입지를 확장하는 것입니다. 회사는 이를 자신의 엄격한 성장 전략과 일치하는 모델 인수로 보고 있습니다.
Strawberry Fields REIT (NYSE AMERICAN:STRW) a finalisé l'acquisition de huit établissements de santé dans le Missouri pour 87,5 millions de dollars. Ces établissements, totalisant 1 111 lits, sont actuellement loués à des tiers dans le cadre d'un contrat de bail principal existant, générant 8,9 millions de dollars de loyer annuel sur une base triple net. Cela marque la première entrée de la société dans le Missouri, étendant son empreinte géographique avec un opérateur local tiers solide. La société considère cela comme un modèle d'acquisition qui s'aligne avec sa stratégie de croissance disciplinée.
Strawberry Fields REIT (NYSE AMERICAN:STRW) hat den Erwerb von acht Gesundheitsanlagen in Missouri für 87,5 Millionen Dollar abgeschlossen. Die Einrichtungen mit insgesamt 1.111 Betten sind derzeit an Dritte unter einem bestehenden Master-Leasingvertrag vermietet, der jährlich 8,9 Millionen Dollar an Mieteinnahmen auf einer Triple-Netto-Basis generiert. Dies markiert den ersten Eintritt des Unternehmens in Missouri und erweitert dessen geografischen Fußabdruck mit einem starken lokalen Drittanbieter. Das Unternehmen betrachtet diese Akquisition als ein Modell, das mit seiner disziplinierten Wachstumsstrategie übereinstimmt.
- Acquisition adds 1,111 beds to portfolio
- $8.9 million in secured annual rental income
- Triple net lease structure minimizes operational costs
- Geographic expansion into new state market
- Immediate revenue generation from existing lease agreement
- Significant capital outlay of $87.5 million may impact cash reserves
- 10.2% cap rate indicates moderate yield on investment
Insights
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The triple-net lease structure effectively transfers operational costs and risks to the tenant while securing steady cash flows for STRW. With Missouri's aging demographics and growing healthcare needs, this portfolio addition diversifies geographic exposure and tenant base while maintaining the company's focus on skilled nursing facilities. The 1,111-bed portfolio's scale provides operational efficiencies and market presence in a new state.
The deal's financing structure and impact on STRW's balance sheet will be important to monitor, as will the tenant's operational performance given the significant lease obligation. However, the attractive cap rate and essential-service nature of these healthcare assets position this as a value-accretive acquisition in a defensive real estate sector.
The acquisition of eight facilities with 1,111 beds represents a substantial operational footprint in Missouri's healthcare market. The average facility size of approximately 139 beds suggests these are likely mid-to-large scale skilled nursing facilities, which typically benefit from economies of scale in staffing and resource allocation. The presence of an established third-party operator reduces operational risk and implementation delays.
Missouri's healthcare market characteristics, including its Certificate of Need (CON) requirements and Medicaid reimbursement rates, create natural barriers to entry and stable operating environments. The state's aging population trends and healthcare utilization patterns support long-term demand for skilled nursing facilities. The existing master lease arrangement with a local operator leverages regional expertise and established referral networks, critical for maintaining high occupancy rates and optimal payor mix.
SOUTH BEND, IN / ACCESSWIRE / December 20, 2024 / Strawberry Fields REIT, Inc. (NYSE AMERICAN:STRW) (the "Company") today announced that it completed the acquisition of eight Healthcare Facilities, comprised of 1,111 beds, located in Missouri (the "Facilities") for
The Facilities are currently leased under an existing master lease agreement to a group of third-party tenants. Under the master lease, the tenant currently pays annual rents of
Moishe Gubin, the Company's Chairman & CEO, noted: "I am excited that the Company completed this sizable acquisition in Missouri. Missouri is a new state for the Company and brings a strong local third-party operator. This acquisition is a great example of a deal type the Company is looking for and anticipates similar future deals which will allow the Company to continue to grow in its disciplined manner."
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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SOURCE: Strawberry Fields REIT Inc
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