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Strawberry Fields REIT Acquires a Skilled Nursing Facility in Jackson, Kentucky

Tuesday, January 10, 2023 12:20 PM
Strawberry Fields REIT
http://www.strawberryfieldsreit.com/index.php

SOUTH BEND, IN / ACCESSWIRE / January 10, 2023 / (OTCQX:STRW) - Strawberry Fields REIT, an owner and lessor of skilled nursing facilities, long-term acute care hospital facilities and assisted living facilities in the Midwestern and Southern U.S., today announced it has acquired a skilled nursing facility located in Jackson, Kentucky.

The Landmark of Breathitt County Rehabilitation & Nursing Center (formerly operated as the Nim Henson Geriatric Center) is a 120-bed facility that was built in 1971. The facility is the only skilled nursing property available in Breathitt County and was most recently renovated in 2021. A wide range of services and activities are available to residents, including crafting, gardening, and religious services. In addition, Landmark of Breathitt County is situated close to the Kentucky River Medical Center, a small regional acute hospital.

Upon purchase, the facility was added to the Landmark master lease. A&M Healthcare Investments, flags its subsidiary facilities primarily under the Landmark brand, and has been a Strawberry Fields tenant since 2017. The Landmark SNFs and LTACHs are in Kentucky, Texas, Oklahoma, Illinois, and Michigan.

"The acquisition of this property helps us expand our footprint and deliver on our goal to help provide access to quality skilled nursing services to the local residents in the markets we operate," commented Moishe Gubin, CEO of Strawberry Fields. "We are also pleased to add this property to the existing Landmark portfolio as we have the utmost confidence in their ability to manage and improve performance."

Strawberry Fields is known as an active investor, working closely with lessees to ensure the quality of the facilities they own. "We maintain good contact with our operators, visit the facilities we own regularly and continually monitor to ensure compliance with state laws," added Gubin. "Additionally, we are pleased to expand our relationship with Landmark through this new acquisition."

Media Contact

Pam Flores
[email protected]
773/218-9260

SOURCE: Strawberry Fields REIT

Topic:
Mergers and Acquisitions
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