Strawberry Fields REIT Acquires its 10th Arkansas Skilled Nursing Facility for $6.85 Million
SOUTH BEND, Ind.— April 10, 2018—Strawberry Fields REIT, LLC (Strawberry Fields), an owner and lessor of nursing homes, long-term acute care hospital facilities and medical office buildings in the Midwestern and Southern U.S., announced it has acquired its tenth skilled nursing facility located in Arkansas.
The Waters of White Hall is located at 9209 Dollarway Road in White Hall, Arkansas, and is a skilled nursing facility with 120 dual certified beds. The purchase price was $6.85 million, of which $5.14 million was a mortgage loan.
The Waters of White Hall has engaged Infinity Healthcare of Arkansas to provide consulting services. Infinity and its sister companies have a long term relationship with many other Strawberry Fields operator-tenants. With this acquisition, Strawberry Fields now owns over 70 nursing homes throughout the country.
“The Waters of White Hall fits well geographically into our overarching portfolio; the facility has a great census and is performing well,” noted Moishe Gubin, CEO of Strawberry Fields. “We were pleased to acquire this property, to help play a role in providing residents of Arkansas with exceptional nursing care when they need it most.”
“Strawberry Fields is an active investor, working closely with lessees to ensure the quality of the facilities we own,” added Gubin. “We maintain good contact with our operators, regularly visit the facilities we own, and continually monitor to ensure compliance with state laws.”