Nareit is pleased to welcome a new corporate member.
Strawberry Fields REIT is a self-managed and self-administered company that specializes in the acquisition, ownership and triple-net leasing of skilled nursing facilities and other post-acute health care properties. Their portfolio consists of 79 health care properties with an aggregate of 10,426 licensed beds. Strawberry Fields REIT hold fee title to 78 of these properties and hold one property under a long-term lease. These properties are located across Arkansas, Illinois, Indiana, Kentucky, Michigan, Ohio, Oklahoma, Tennessee, and Texas. Their 79 properties comprise 85 health care facilities, consisting of the following: 74 stand-alone skilled nursing facilities; four dual-purpose facilities used as both skilled nursing facilities and long-term acute care hospitals; and three assisted living facilities.
Strawberry Fields REIT generates substantially all of their revenues by leasing properties to tenants under long-term leases on a triple-net basis, under which the tenant pays the cost of real estate taxes, insurance and other operating costs of the facility. Each health care facility located at their properties is managed by a qualified operator with an experienced management team.