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Strawberry Fields REIT, Inc.
Strawberry Fields REIT owns skilled nursing facilities and other healthcare buildings and rents them to the operators who run them.
Strawberry Fields REIT is a landlord for nursing homes. It buys buildings where people receive long-term care and rehabilitation, then leases them to the companies that actually run the day-to-day operations — hiring the nurses, admitting the residents, and collecting the bills. The REIT just collects rent.
The business is unusual because it's tightly focused on one corner of healthcare real estate. The company began as an owner-operator of skilled nursing facilities before converting into a REIT structure in 2022, which is why it still has a small group of facilities it operates directly through a taxable REIT subsidiary. But the bulk of the money comes from rent checks paid by independent nursing-home operators under long-term triple-net leases, meaning the tenant covers property taxes, insurance, and maintenance. That model makes Strawberry Fields heavily dependent on government money. Its tenants are paid largely by Medicare and Medicaid, so when reimbursement rates or staffing rules change, the landlord feels it through tenant finances and rent collection. The REIT has grown mostly by acquiring more facilities, often from operators who then lease the buildings back — a way that smaller nursing-home chains can raise cash without selling their business outright.
The company is small compared to the big healthcare landlords like Welltower and Ventas, and its shares list on NYSE American. It funds growth with debt and equity, and like most REITs it distributes most of its taxable income to shareholders as dividends. The core bet is simple: own the bricks, let someone else handle the hard part of caring for residents, and keep the rent coming.
Saved answer · last researched 10 Nov 2026