Home Nurse Facilities Strawberry Fields REIT Acquires Six Nursing Facilities In Kentucky And Tennessee For Over $ 80 Million

Strawberry Fields REIT Acquires Six Nursing Facilities In Kentucky And Tennessee For Over $ 80 Million



SOUTH CURVE, Ind., September 2, 2021 / PRNewswire / – Strawberry Fields, owner and lessor of long-term acute care hospitals, skilled nursing facilities and assisted living facilities in the Midwest and Southern United States, today announced the ” acquisition of six qualified nursing establishments located in Kentucky and Tennessee.

The purchase price was ~ $ 81 million and Strawberry Fields used the product of a 3rd Bond offer on the Tel Aviv Stock Exchange to finance this acquisition.

“The acquisition of these six new properties is part of our continued expansion in Heartland,” noted Moishe Gubin, CEO of Strawberry Fields. “This portfolio fits well geographically with our existing Strawberry Fields facilities in Tennessee and Kentucky and will be a great addition to our current operators. “

The Kentucky the facility will join the Landmark portfolio, which operates throughout Kentucky, and in Texas, Oklahoma, Illinois, and Michigan. Each of the operators of The Waters brand at the five Tennessee facilities, have engaged Infinity Healthcare to Tennessee to provide consulting services.

The properties include:

  • Landmark of Kuttawa is a 65 bed specialty nursing facility that was built in 1968 and is located at 1253 Lake Barkley Drive in Kuttawa, Kentucky.
  • Agape Rehabilitation & Nursing Center (A Water’s Community), was built in 2005 and is an 84 bed skilled nursing facility located at 505 North Roan Street in Johnson City, Tennessee.
  • Waters Pure water, A rehabilitation and nursing center located at 978, route 11S, in Sweetwater, Tennessee. This skilled nursing facility is a 90-bed home that was built in 1966.
  • Waters McKenzie, A rehabilitation and nursing center with 72 beds. Built in 1969, this property is located at 14510 route 79 in McKenzie, Tennessee.
  • Waters Memphis, A rehabilitation and nursing center built in 2015 with 90 beds. This nursing qualified property is located at 6500 Kirby Gate Blvd. in Memphis, Tennessee.
  • Waters Bristol, A rehabilitation and nursing center, is located at 2830, route 394 in Bristol, Tennessee. This facility offers 120 beds and was built in 2017.

Moishe Gubin concluded: “The completion of this acquisition and this new series of bonds on the Tel Aviv Stock Exchange contributes to Strawberry Fields’ goal of continuously growing our portfolio to increase shareholder value.

SOURCE Strawberry Fields REIT LLC