Strawberry Fields REIT Logs 14% FFO Growth, Secures $300M Credit Facility
Strawberry Fields REIT collected 100% of rents in Q1 2026 and reported FFO of $20.9M ($0.38/share) and AFFO of $18.8M ($0.34/share), up 14% and 12%, respectively. It secured a $300M credit facility (SOFR+2.75%) and will acquire a Kansas City hospital campus for $8.6M with $860k in annual base rent.
1. First Quarter 2026 Financial Performance
Strawberry Fields REIT collected 100% of contractual rents and generated rental income of $40.0M for the quarter ended March 31, 2026. FFO rose to $20.9M ($0.38 per share) versus $18.3M ($0.33) a year earlier, while AFFO reached $18.8M ($0.34 per share) compared with $16.8M ($0.30) in Q1 2025, and net income climbed to $9.5M from $7.0M.
2. $300M Corporate Credit Facility
The company signed a term sheet for a $300M Corporate Credit Facility consisting of a $100M term loan and a $200M revolving line, each with an initial three-year term and two one-year extensions. Priced at SOFR plus 2.75%, proceeds are earmarked to refinance existing secured bank debt and support future acquisitions, with closing expected in Q2 2026.
3. Kansas City Hospital Campus Acquisition
On April 21, 2026, the REIT entered a contract to purchase a 60-bed hospital, 99-bed skilled nursing facility and ancillary medical offices near Kansas City for $8.6M. Funded from the balance sheet, the asset will join an existing Missouri master lease with initial base rents of $860k subject to 3% annual increases.