SOUTH BEND, Ind.— June 11, 2019—Strawberry Fields REIT, LLC (Strawberry Fields), an owner and lessor of nursing homes and long-term acute care hospital facilities in the Midwestern and Southern U.S., announced it has sold The Glendale Medical Center for $6.1 million.
Located at 1101 Glendale Boulevard in Valparaiso, Indiana, The Glendale Medical Center is a 28,837 square-foot medical office park with a 20,207 square-foot main building and an 8,630 square-foot annex building. The main property was built in 1967 and the annex building was constructed in 2007 at the same time the main building was renovated, to continue to accommodate the medical office demand in the community.
The property is strategically located less than two miles from the Valparaiso Campus, just off the intersection of Calumet Avenue and Glendale Boulevard.
“We elected to sell The Glendale Medical Center as it was an outlier in our portfolio consisting mainly of skilled nursing facilities and it was the only medical office building we owned,” noted Moishe Gubin, CEO of Strawberry Fields. “The core of our investment strategy is expansion in owning and managing skilled nursing facilities and we elected to keep our focus squarely on that asset class.”
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