Home Nurse Facilities Strawberry Fields REIT Acquires Six Nursing Facilities In Kentucky, Tennessee For $ 81 Million

Strawberry Fields REIT Acquires Six Nursing Facilities In Kentucky, Tennessee For $ 81 Million

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One of the properties, Agape Rehabilitation & Nursing Center, is an 84 bed skilled nursing facility located at 505 North Roan St. in Johnson City, Tenn.

SOUTH CURVE, IND. –Strawberry Fields, a South Bend-based owner of long-term care hospitals, skilled nursing and assisted living, has acquired six skilled nursing facilities located in Kentucky and Tennessee for $ 81 million. The properties include:

• Landmark of Kuttawa, a 65-bed specialty nursing facility located at 1253 Lake Barkley Drive in Kuttawa, Ky., Which was built in 1968.
• Agape Rehabilitation & Nursing Center, an 84-bed skilled nursing facility located at 505 North Roan St. in Johnson City, Tennessee, which was built in 2005.
• Waters of Sweetwater, a 90 bed rehabilitation and nursing facility located at 978 Highway 11S in Sweetwater, Tenn., Which was built in 1966.
• Waters of McKenzie, a 72 bed rehabilitation and nursing facility located at 14510 Highway 79 in McKenzie, Tenn.
• Waters of Memphis, a 90-bed rehabilitation and nursing facility located at 6500 Kirby Gate Blvd. in Memphis, was built in 2015.
• Waters of Bristol, a 120 bed rehabilitation and nursing facility located at 2830 Highway 394 in Bristol, Tenn., Was built in 2017.

Some facilities offer physical, speech and vocational therapy for short-term rehabilitation clients as well as long-term care residents. These establishments also have a nursing department, which provides nursing care in the establishment, as well as a registered dietitian who plans well-balanced meals for the residents of each establishment.

Facilities at the facilities include a beauty salon and hair salon, chapel, library, activity room and dining room. The properties were built between 1956 and 2017 and underwent renovations between 1983 and 2020. The properties were 79% occupied at the time of sale.

The Kentucky facility will join the Landmark portfolio, which operates throughout Kentucky, Texas, Oklahoma, Illinois and Michigan. Each of the Waters-branded operators at the five Tennessee facilities hired Tennessee-based Infinity Healthcare to provide advisory services.