LEBANON, Ind. — Strawberry Fields REIT LLC has acquired Hickory Creek at Lebanon, a 64-bed skilled nursing facility in the Indianapolis suburb of Lebanon, for $1 million.
The property was 47 percent occupied at the time of sale. The Waters of Lebanon signed a 10-year lease with two five-year extension options to operate the facility.
This property was acquired in cash without any financing. The new owner plans to implement improvements to improve occupancy.
Strawberry Fields owns 58 facilities located in Illinois, Indiana, Ohio, Texas, Michigan, Tennessee, Kentucky and Oklahoma.