Strawberry Fields REIT announced plans to acquire nine skilled nursing facilities (SNFs) in Missouri for $59 million. Meanwhile, a 439-bed SNF portfolio consisting of two properties was also sold, among other transactions.

Strawberry Fields to acquire 9 SNFs for $59 million

Strawberry Fields REIT (NYSEAmerican: STRW) announced plans Wednesday to acquire nine skilled nursing facilities in Missouri – totaling 686 licensed beds – for $59 million. The purchase price is expected to be paid at closing..

Strawberry Fields plans to pay the purchase price utilizing its current working capital and funds provided by a third-party lender, the company said in a press release.

Eight of the facilities will be leased to the Tide Group 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. 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.

Strawberry Fields anticipates closing on or before July 1, but said there was “no assurance” that the closing will occur within this timeframe.

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

439-bed SNF portfolio sold in Atlanta

Senior Living Investment Brokerage (SLIB) successfully facilitated the sale of a 439-bed SNF portfolio consisting of two properties in the Atlanta area.

The assets are situated in prime suburban Atlanta markets with strong demographics. The portfolio grants new ownership a unique chance to capitalize on existing regional demand, with a pathway for considerable financial growth.

The seller is a Northeast-based owner. The buyer is an owner/operator with a large portfolio located mainly throughout the Southeast.

Daniel Geraghty and Bradley Clousing of SLIB handled the transaction on behalf of the seller.

2 SNFs sold in Wisconsin

Evans Senior Investments (ESI) announced the successful closing of a two-property skilled nursing portfolio in Wisconsin. The transaction was completed through a HUD debt assumption structure and involved an institutional buyer with an existing presence in the state.

The portfolio, which consisted of two skilled nursing communities totaling 172 beds, had been operating at a break-even level at the time of sale. Despite the limited cash flow, ESI’s strategic marketing process attracted interest from both regional and national buyers.

The seller was a local partnership comprising a group of individual owners with long-standing ties to the communities. Seeking an exit from the skilled nursing sector, the seller engaged ESI to identify a qualified operator capable of assuming the HUD-insured mortgages and navigating a complex regulatory approval process in Wisconsin.

The buyer, an established institutional group with a growing footprint in the Midwest, saw the transaction as an opportunity to expand its operating platform in Wisconsin. The assumption of the HUD debt provided a unique entry point at favorable long-term financing terms.

“This transaction reflects ESI’s continued expertise in navigating complex HUD assumption deals and connecting local ownership groups with institutional capital,” said Brendan DeSilvia, Director of Mergers & Acquisitions at Evans Senior Investments, in a press release. “Despite operational challenges, we were able to deliver a successful outcome for all parties involved.”

357-Bed Ohio CCRC campus sold

Blueprint announced the sale of the Flyers Portfolio, a 357-bed health care portfolio offering independent living, assisted living, memory care, and skilled nursing across three campuses in Ohio.

Brought to market by a regional owner/operator as part of a realignment, the three-campus portfolio offered immediate cash flow, recent Medicaid rate tailwinds, and a compelling opportunity for buyers seeking scale, stability, and upside in a competitive Midwest market. The offering was further bolstered by the availability of attractive, assumable HUD financing on two of the three assets.