Strawberry Fields REIT Inc. has successfully completed the acquisition of nine skilled nursing facilities in Missouri, totaling 686 beds, for $59 million. The transaction was funded through cash on hand and the issuance of approximately $2 million in OP Units of Strawberry Fields REIT LP to the seller. Eight of the facilities have been leased to the Tide Group, led by CEO Brian Ramos, with the lease terms extended for ten years and annual rents increased by $5.5 million. The ninth facility was leased to an affiliate of Reliant Care Group L.L.C., with lease terms extended for fifteen years and an annual rent increase of $0.6 million. This acquisition brings the company's total holdings in Missouri to 17 skilled nursing facilities, as it continues to expand its portfolio and strengthen relationships with existing tenants.
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