Strawberry Fields Buys KY Rehabilitation and Nursing Facility
- May 18, 2018
Strawberry Fields REIT LLC—an owner and lessor of nursing homes, long-term acute care hospital facilities and medical office buildings in the Midwestern and Southern U.S.—has bought Landmark Rehabilitation and Nursing Center of River City, a 92-bed rehabilitation and nursing facility for $6.5 million from Christian Care Centers.
Located at 1015 Magazine St. in Louisville, Ky., the 1962-built property was renovated between 2012 and 2014. According to Strawberry Fields, Landmark of River City was 81 percent occupied at the time of the sale. Landmark Group is currently leasing and managing the asset. Services include on-site physical, occupational and speech rehabilitation, skilled nursing, rehab-to-home program, wound care and respite care hospice.
“Landmark of River City is an outstanding location and provides residents of Louisville exceptional subacute care and rehabilitation services,” said Moishe Gubin, CEO of Strawberry Fields, in a prepared statement. “The former owner implemented extensive renovations on this property converting it to an attractive and state-of-the-art facility for care delivery.”
Louisville commercial real estate activity is ramping up as the city gears up for the opening of its revamped Kentucky International Convention Center. Earlier this year, the city’s largest hospitality facility opened when Omni debuted the $300 million Omni Louisville Hotel.
Photo via Google Street View