Strawberry Fields REIT (STRW) sets $300M term loan and revolver with Popular Bank

Rhea-AI Filing Summary

Strawberry Fields REIT, Inc. entered into a new corporate credit facility of up to $300 million, split between a $100 million term loan and a $200 million revolving credit line with Popular Bank. Both the term loan and revolver bear interest at the greater of the 1‑month CME Term SOFR plus 275 basis points or 5.50% per year, and each matures on June 18, 2029 with two one‑year extension options. The loans are secured by a portion of Strawberry Fields Realty LP’s assets and guaranteed by the REIT and certain real estate subsidiaries. The company plans to use the facility to refinance existing secured bank debt, fund acquisitions, and for working capital and general corporate purposes.

Insights

REIT capital structure analyst

Strawberry Fields adds a $300M secured credit facility, mainly for refinancing and growth.

Strawberry Fields REIT has put in place a corporate credit facility totaling $300 million, combining a $100 million term loan and a $200 million revolver maturing on June 18, 2029. Pricing is floating, at the higher of 1‑month CME Term SOFR plus 275 bps or a 5.50% floor.

This structure provides committed debt capital while tying borrowing costs to short‑term rates, with a minimum coupon. The facility is secured by a portion of Strawberry Fields Realty LP assets and guaranteed by the REIT and certain real estate subsidiaries, so leverage and asset encumbrance increase in exchange for liquidity and flexibility.

The company states that proceeds will refinance existing secured bank debt and support acquisitions, working capital and general corporate needs. How this affects leverage, interest expense and acquisition pace will become clearer in future periodic reports covering periods after June 18, 2026.

8-K Event Classification

2 items: 1.01, 9.01

2 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Corporate Credit Facility Size: $300,000,000 Term Loan Principal: $100,000,000 Revolving Credit Facility Limit: $200,000,000 +3 more

6 metrics

Corporate Credit Facility Size $300,000,000 Total availability under corporate credit facility

Term Loan Principal $100,000,000 Amount borrowed under Term Loan at closing

Revolving Credit Facility Limit $200,000,000 Maximum availability under Revolving Loan

Interest Margin over SOFR 275 basis points Spread over 1‑month CME Term SOFR for both loans

Interest Rate Floor 5.50% per annum Minimum interest rate for Term Loan and Revolving Loan

Loan Maturity Date June 18, 2029 Stated maturity for both Term Loan and Revolving Loan

Key Terms

Corporate Credit Facility, Term Loan and Security Agreement, Revolving Loan and Security Agreement, 1-month CME Term SOFR Rate, +1 more

5 terms

Corporate Credit Facility financial

"closed on its previously announced Corporate Credit Facility (“CCF”) with availability up to $300 million"

Term Loan and Security Agreement financial

"entered into (i) a Term Loan and Security Agreement and related Term Loan Note"

Revolving Loan and Security Agreement financial

"and (ii) a Revolving Loan and Security Agreement and related Revolving Loan Note"

1-month CME Term SOFR Rate financial

"bears interest at a rate per annum equal to the greater of (i) 1-month CME Term SOFR Rate plus 275 basis points"

continuing security interest financial

"The Term Loan is secured by a continuing security interest in a portion of the assets of SFRLP"

FAQ

What new credit facility did Strawberry Fields REIT (STRW) enter into?

Strawberry Fields REIT entered a corporate credit facility totaling up to $300 million. It combines a $100 million term loan and a $200 million revolving credit line with Popular Bank to support refinancing, acquisitions, working capital and general corporate purposes.

What are the interest terms on Strawberry Fields REIT’s new loans?

Both the term loan and revolver bear interest at the greater of the 1‑month CME Term SOFR plus 275 basis points or 5.50% per year. This creates a floating rate structure with a minimum floor on interest costs for Strawberry Fields REIT.

When does the new Strawberry Fields REIT credit facility mature?

The term loan and revolving loan each mature on June 18, 2029. Strawberry Fields REIT also has two one‑year extension options, potentially extending the maturity further if conditions and documentation allow those options to be exercised.

How much did Strawberry Fields REIT draw under the new facility at closing?

At closing, Strawberry Fields Realty LP borrowed $100,000,000 under the term loan portion of the facility. The separate $200,000,000 revolving credit facility was established to provide additional borrowing capacity for future needs, subject to its terms and conditions.

How will Strawberry Fields REIT use proceeds from the new credit facility?

Strawberry Fields REIT plans to use corporate credit facility proceeds to refinance existing secured bank debt, support acquisition growth, fund working capital, and address general corporate purposes, according to the company’s description of intended uses in the filing.

What collateral and guarantees secure Strawberry Fields REIT’s new loans?

The term loan and revolving loan are secured by a continuing security interest in a portion of Strawberry Fields Realty LP’s assets. They are guaranteed by Strawberry Fields REIT, Inc. and certain real estate subsidiaries, enhancing lender protection through additional obligors and collateral.

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Understanding 8-K Material Events →

Available on EDGAR 06/22/2026 - 06:10 AM Accepted by SEC EDGAR 06/22/2026 - 06:09 AM Learn about SEC filing dates

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) June 22, 2026

Strawberry Fields REIT, Inc.

(Exact name of registrant as specified in its charter)

Maryland		001-41628		84-2336054
(State or other jurisdiction of incorporation)		(Commission file number)		(IRS employer identification no.)
6101 Nimtz Parkway
South Bend, Indiana				46628
(Address of principal executive offices)				(Zip Code)

(574) 807-0800

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities Registered pursuant to Section 12(b) of the Act:

Title of each class registered		Trading Symbol(s)		Name of exchange on which registered
Common Stock, $0.0001 par value		STRW		NYSE American

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1933 (§240.12b-2 of this chapter)

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

On June 18, 2026, Strawberry Fields REIT, Inc. (the “Company”) closed on its previously announced Corporate Credit Facility (“CCF”) with availability up to $300 million.

Strawberry Fields Realty LP (“SFRLP”), entered into (i) a Term Loan and Security Agreement and related Term Loan Note (together, the “Term Loan”) and (ii) a Revolving Loan and Security Agreement and related Revolving Loan Note with Popular Bank, as administrative agent and lender. Strawberry Fields REIT, Inc., SFRLP’s General Partner, guaranteed the obligations under the Term Loan and the Revolving Loan.

Pursuant to the Term Loan, SFRLP borrowed $100,000,000. The Term Loan bears interest at a rate per annum equal to the greater of (i) 1-month CME Term SOFR Rate plus 275 basis points or (ii) 5.50%. The Term Loan matures on June 18, 2029, subject to two one-year extension options. The Term Loan is secured by a continuing security interest in a portion of the assets of SFRLP. The Term Loan is guaranteed by the Company and certain real estate subsidiaries of the Company.

Pursuant to the Revolving Loan, SFRLP established a $200,000,000 revolving credit facility. The Revolving Loan bears interest at a rate per annum equal to the greater of (i) 1-month CME Term SOFR Rate plus 275 basis points or (ii) 5.50%. The Revolving Loan matures on June 18, 2029, subject to two one-year extension options. The Revolving Loan is secured by a continuing security interest in a portion of the assets of SFRLP. The Revolving Loan is guaranteed by the Company and certain real estate subsidiaries of the Company.

The proceeds of the CCF will be used to refinance existing secured bank debt, support acquisition growth, working capital and general corporate purposes.

The exhibits listed below are not being filed herewith. The Registrant will file the exhibits required by this Item by an amendment to this Current Report on Form 8-K by close of business on Thursday June 25^th and to the extent required.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number		Exhibit Name		Filed Herewith
10.1		Term Loan and Security Agreement		*
10.2		Term Loan Note		*
10.3		Revolving Loan and Security Agreement		*
10.4		Revolving Loan Note		*
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)		*

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

STRAWBERRY FIELDS REIT, INC.
Date:	June 22, 2026
By:	/s/ Moishe Gubin
	Moishe Gubin
	Chief Executive Officer and Chairman

Filing Exhibits & Attachments

3 documents

Other Documents

• EX-101 XBRL SCHEMA FILE 3.0 KB
• EX-101 XBRL LABEL FILE 33.4 KB
• EX-101 XBRL PRESENTATION FILE 21.9 KB