Chief Investment Officer-Jeffrey Bajtner Operator: [Operator Instructions] I would now like to hand the conference over to your speaker today, Jeffrey Bajtner, Chief Investment Officer. Jeffrey Bajtner: Thank you and welcome to Strawberry Fields REIT's Q2 2026 earnings call. I am the Chief Investment Officer, and joining me today on the call are Moishe Gubin, our Chairman and CEO, and Greg Flamion, our CFO.
Yesterday evening, the company issued its Q2 2026 earnings results, which are available on the company's investor website. Participants should be aware that this call is being recorded and listeners are advised that any forward-looking statements made on today's call are based on management's current expectations, assumptions, and beliefs about Strawberry Fields REIT's business and the environment in which it operates. These statements may include projections regarding future financial dividends, acquisitions, investments, returns, financings, and may or may not reference other matters affecting the company's business or the businesses of its tenants, including factors that are beyond its control.
Additionally, references will be made during this call to non-GAAP financial results. Investors are encouraged to review these non-GAAP financial measures as well as explanation and reconciliation of these measures to the comparable GAAP results included on the non-GAAP measure reconciliation pages at the back of our investor presentation. And now, on to discussing Strawberry Fields REIT and our Q2 2026 performance.
I wanted to start by sharing some key highlights for the quarter. During the quarter, the company collected 100% of its contractual rents. On June 18th, the company closed on its corporate credit facility with availability up to $300 million.
The credit facility is comprised of a $100 million term loan and a $200 million revolving line of credit, both having initial 3-year terms and two 1-year extension options. Proceeds from the credit facility were used to refinance existing secured bank debt, and the remainder will be available to support acquisition growth. The rate on the credit facility is SOFR plus 2.75%.
On April 21st, the company entered into a contract for the acquisition of a hospital campus comprised of a licensed 60-bed hospital, licensed 99-bed skilled nursing facility, and ancillary medical office buildings near Kansas City, Missouri. The purchase price will be $10.4 million, and the company expects to fund the acquisition from the balance sheet. The hospital campus will be added to an existing master lease of a tenant in Missouri with annual base rents of $1.04 million and subject to 3% annual rent increases.
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