NEWPORT, HOT SPRINGS and LITTLE ROCK, Ark. — Strawberry Fields REIT has acquired three skilled nursing facilities located in Arkansas for a total of $14.3 million.
“The acquisition of these three new properties is part of our continued expansion in Arkansas,” says Moishe Gubin, CEO of Strawberry Fields. “The facilities fit well geographically into our portfolio and are all performing well.”
The properties include:
- The Waters of Newport, a 120-bed skilled nursing facility in Newport that was built in 2001.
- Hot Springs Nursing and Rehabilitation (A Waters Community), a 152-bed facility in Hot Springs built in 1978.
- The Waters of West Dixon, which offers 140 skilled nursing beds and 32 assisted living beds in Little Rock. The property was built in 1950.
“The operators have engaged Infinity Healthcare of Arkansas to provide consulting services,” says Gubin. “Infinity is a quality consulting partner that is involved in many of our properties.”
Infinity and its sister companies have a long-term relationship with many other Strawberry Fields operator-tenants. With this acquisition, Strawberry Fields owns over 70 nursing homes throughout the country.