Strawberry Fields
Strawberry Fields owns 34 properties and operates primarily in the Skilled Nursing Industry since 2004. The company operates in Illinois and Indiana
- A real estate company that owns 40 nursing homes and rehabilitation centers. Out of which one propertyis an office building used for clinics. The nursing homes are leased, operated and managed by 13 different renters and obtain 4,324 beds.
- The properties are located in Illinois, Indiana, Ohio, Texas, Michigan and Oklahoma
- Most lease agreements are Tripe Net (operation and maintenance costs are paid fully by the renters).
- The company is entitled to a monthly rent.
- The lease are long-term with an avarege annual rent raise of 1%-3%
- Most tenants in the company’s nursing homes are long-term patients who require prolong hospitalization,medical care and rehabilitation
Balance Sheet Highlights (Q3/ 2015):
| Equity | $138MM |
| Net debt to capital ratio | Approx. 60% |
| net profit | $27.3MM |
November 2015, Straweberry Fields has completed raising of $265MM in bonds
on the Tel-Aviv Stock exchange
| Securities | Strawberry Fields REIT |
| Amount of issuanc | ILS265MM ($70MM) |
| Total Demand at the Tender Offerin | ILS415MM ($106MM) |
| Yield | 6.4% |
| Coupon Payments | Twice a year as of July 2017 until 2024 |
| Principal Payments | 4 equal payments of 10% 2017-2020 4 equal payments |
| Duration | 4.0 Years |
| Rating | A (Midroog) |
| Security | None |
| Covenants | Light & uninterrupting |
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