Moishe Gubin, CEO of Strawberry Fields REIT (NYSEMKT: STRW), sat down for a video interview during Nareit’s REITworld: 2025 Annual Conference in Dallas on Dec. 8-11.
Gubin said 2025 has been the strongest year in the company’s history, driven by consistent balance sheet growth and a straightforward business model. “This year we have the best results because we have the largest size balance sheet that’s earning,” he said, adding that total returns are “probably closer to about a 17% return between the AFFO growth and our dividend payout.”
He emphasized the simplicity of Strawberry Fields’ approach, noting that the company’s financials are built entirely on rental and interest income.
“Our business is running real clean,” Gubin said. “We don’t have any wonky things…just the bigger we get, the better the returns are.”
On the acquisition front, Strawberry Fields closed approximately $120 million in transactions in 2025, consistent with its annual target of roughly 10% growth. Gubin said the REIT remains a pure-play skilled nursing operator, with about 93% of its portfolio in nursing homes, and continues to focus on master lease structures: “Business is the same—it’s business as usual.”
Looking ahead to 2026, Gubin said the company’s investment strategy will remain unchanged, while corporate priorities will focus on capital structure enhancements, including securing an unsecured line of credit. He also pointed to long-term demographic trends supporting the sector, citing the “silver tsunami” and aging population as key drivers of sustained demand.