Strawberry Fields Reit Inc Dossier
Qualitative Analysis
Business overview
Strawberry Fields REIT, Inc. (NYSE American: STRW) is a self-managed and self-administered real estate investment trust specializing in the acquisition, ownership, development, and triple-net leasing of skilled nursing facilities and other post-acute healthcare properties. Founded in 2014 by Moishe Gubin, the company transitioned to a public entity with its IPO in late 2024. As of mid-2026, the company's portfolio encompasses approximately 143 healthcare facilities comprising 131 skilled nursing facilities, 10 assisted living facilities, and two long-term acute care hospitals, representing over 15,600 licensed beds across ten states. STRW operates under an UPREIT structure and utilizes long-term triple-net leases with experienced third-party operators, which transfers operating costs, maintenance, taxes, and insurance responsibilities to tenants, ensuring stable rental income.
Research as of 19 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
Reinvesting retained cash flows from its low payout ratio (sub-50% of AFFO) into high-yield skilled nursing facility acquisitions.
Expected impact: Compounding AFFO per share growth by targeting a 15% acquisition return on equity.
Expanding existing master lease structures with trusted regional operators (such as Tide Group and Reliant Care Group) to maintain 100% rent collection rates.
Expected impact: Provides predictable, recurring rental income with built-in annual escalators (typically 2.5% to 3.0%) while transferring operational costs to tenants.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Recent Acquisitions
Acquisition of 686 beds to expand the company's footprint in Missouri to 17 facilities. Eight facilities were added to the Tide Group master lease and one to the Reliant Care Group master lease.
Financial impact: Adds $6.1 million in combined annual rental income with 3% annual rent increases.
Acquisition of 354 licensed beds in Kansas leased under a new 10-year triple-net master lease to third-party tenants.
Financial impact: Increases annual rental income by $2.4 million with 3% annual escalators.