Strawberry Fields REIT, Inc. entered into a Purchase and Sale Agreement with an unaffiliated seller with respect to 24 Healthcare Facilities located in Indiana. The purchase price for the Facilities is $102,000,000, payable at the closing. The Facilities are currently leased under a master lease agreement to a group of tenants affiliated with two of the Company's Directors, Moishe Gubin and Michael Blisko.

Under the master lease, the tenants pay annual first year rent of $9,500,000, on a triple net basis. The Facilities are comprised of nineteen skilled nursing facilities with 1,659 licensed beds and five assisted living facilities with 193 beds, of which 29 are licensed. The Company plans to purchase the facilities utilizing the Company's current working capital and funds provided by a third-party lender.

The Company anticipates closing the acquisition in August 2023.