Strawberry Fields Begins Trading on the OTCQX® Markets

SOUTH BEND, Ind., Oct. 28, 2022 /PRNewswire/ -- Strawberry Fields REIT, an owner and lessor of skilled nursing facilities, assisted living facilities and long-term acute care hospitals, in the Midwest and Southern U.S., has begun trading on the OTC Markets Group Inc. ("OTCQX") under the symbol "STRW". OTCQX is an operator of regulated markets for trading 12,000 U.S. and international securities.

"My partners and I invested significant time and energy to build our company, starting with the acquisition of 33 properties in Indiana and Illinois from 2005 through 2014. Since 2014, we have since expanding our regional footprint to where we are today with, 74 standalone facilities and four dual-purpose properties," explained Moishe Gubin, Chairman & CEO of Strawberry Fields REIT.

"This is the right time to move to a public platform. Utilizing this platform will allow our company to leverage the benefits of a public market with the ability to easily raise equity and access to corporate bonds," added Gubin. "Our move to the OTCQX will enhance our ability to grow our portfolio and continue to serve the aging U.S. population. This is a passion of mine and my partners, that was key to us building our company."

Strawberry Fields REIT currently owns and leases properties in Arkansas, Illinois, Indiana, Kentucky, Michigan, Ohio, Oklahoma, Tennessee and Texas.

Gubin continued "Despite the current economic environment; with a variety of issues including staffing challenges, rising labor costs, and regulatory challenges, our Operators continue to perform well. This enabled Strawberry Fields REIT to continue its active investing and management approach."

"We have good regional coverage – in a market that we know very well – and good tenants that work very hard. Our public status will help us bolster our plans to continue to grow and invest in properties that serve our oldest populations," concluded Gubin.

Across the Strawberry Fields REIT portfolio, average facility occupancy is 65.1%, as of June 2022. The current payor mix is 73% Medicaid, 13% Medicare, 8% insurance and 6% private. Average facility size is approximately 130 beds.

SOURCE Strawberry Fields REIT LLC