Real Estate Developer Looks to Grow National Footprint

Strawberry Fields REIT has locations in six states.

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A South Bend-based real estate developer is looking to expand its profile. Strawberry Fields REIT Co., which owns and leases nursing homes, acute care hospital facilities and medical office buildings, has raised funding for the expansion on the Tel Aviv Stock Exchange.

The company says it has raised $51.4 million after completing a new issue of Series A unsecured debentures. Strawberry Fields has an "A" rating by Standard & Poor’s.

Strawberry Fields says the money will be used to expand its business into new states and to "diversify the pool of operators and property types." The company currently has 51 facilities in Indiana, Illinois, Ohio, Texas, Michigan and Oklahoma.