Strawberry Fields REIT Reports Strong Q1 Results, Plans $300M Credit Facility to Fuel Growth
Strawberry Fields REIT reported higher Q1 FFO and net income, with plans to close a $300 million credit facility to refinance debt and support acquisitions.
Strawberry Fields REIT, Inc. (NYSE AMERICAN: STRW) reported first-quarter 2026 results showing growth in key operating metrics, driven by strong rent collections and a healthy portfolio of healthcare properties. The company also announced it has signed a term sheet for a $300 million corporate credit facility expected to close in the second quarter, which will be used to refinance existing debt and support future acquisition growth.
For the quarter ended March 31, 2026, Strawberry Fields reported funds from operations (FFO) of $20.9 million, or $0.38 per share, compared to $18.3 million, or $0.33 per share, in the prior-year quarter. Adjusted funds from operations (AFFO) increased to $18.8 million, or $0.34 per share, from $16.8 million, or $0.30 per share. Net income rose to $9.5 million from $7.0 million, while rental income increased to $40.0 million from $37.3 million. The company collected 100% of contractual rents during the quarter, underscoring the stability of its tenant base.
The proposed $300 million credit facility represents a significant step in strengthening Strawberry Fields’ balance sheet. Proceeds are expected to refinance existing debt, potentially lowering interest costs and extending maturities, while also providing capital for accretive acquisitions. The company’s portfolio includes 143 healthcare facilities with over 15,600 beds across 10 states, comprising 131 skilled nursing facilities, 10 assisted living facilities, and two long-term acute care hospitals.
The results highlight the resilience of the healthcare real estate sector, particularly skilled nursing facilities, which have seen steady demand from an aging population. Strawberry Fields’ ability to collect 100% of rents and grow FFO suggests strong operational performance, even as the industry faces regulatory and reimbursement challenges. The credit facility, if closed, would position the company to continue expanding its footprint in the fragmented healthcare real estate market.
Investors and analysts will be watching for the closing of the credit facility in the coming months, as well as any acquisition announcements. The company’s focus on skilled nursing and healthcare properties provides a differentiated investment thesis compared to traditional office or retail REITs. With the capital markets showing renewed appetite for healthcare real estate, Strawberry Fields appears well-positioned to capitalize on opportunities.
For more information, visit the company’s newsroom at https://nnw.fm/STRW.