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Strawberry Fields REIT acquired The Living Center, a 99-bed skilled nursing facility in Marshall, Missouri, through a bankruptcy-court sale completed Sept. 8. New York nonprofit ArchCare plans to sell Ferncliff Nursing Home in Rhinebeck, but the buyer is undisclosed and the transaction awaits state regulatory approval.
Strawberry Fields REIT bought The Living Center, a 99-bed skilled nursing facility connected to John Fitzgibbon Memorial Hospital in Marshall, Missouri, on Sept. 8, while New York nonprofit ArchCare plans to sell Ferncliff Nursing Home in Rhinebeck. The Missouri transaction closed after a bankruptcy-court sale process; ArchCare’s proposed sale remains subject to state approval, with the buyer and financial terms undisclosed.
The Missouri sale was completed through a Section 363 process in the Chapter 11 bankruptcy proceedings of John Fitzgibbon Memorial Hospital and Fitzgibbon Health Services. Strawberry Fields REIT was initially chosen as the stalking-horse bidder, a starting bidder in the court-supervised sale, and ultimately acquired the hospital as part of a combined transaction that included The Living Center.
The final purchase price was not disclosed. A press release cited by Skilled Nursing News said the final transaction price was about $2.3 million above the original stalking-horse bid. The sale process lasted approximately six months. Healthcare Transactions Group advised Fitzgibbon Health Services as its exclusive mergers-and-acquisitions adviser.
Separately, ArchCare, a nonprofit Catholic healthcare system affiliated with the Archdiocese of New York, intends to sell Ferncliff Nursing Home to an unidentified buyer. ArchCare has not provided a sale price or other financial terms. The organization is expected to retain ownership and operational responsibility until required regulatory approval is obtained and the deal closes.
Two Facilities, Different Sale Stages
The developments show two distinct paths for nursing-home transactions involving hospital-affiliated providers: a completed acquisition through Chapter 11 proceedings in Missouri and a proposed sale still moving through the regulatory process in New York. For residents, families and staff, the difference is material: the Missouri ownership change has closed, while Ferncliff is not changing hands immediately.
ArchCare’s timeline could extend to two years, according to the local report cited by Skilled Nursing News. Until a sale is approved and completed, ArchCare remains responsible for operating Ferncliff. That continuing role provides clarity about the near-term operator, but the undisclosed prospective buyer and unknown terms leave longer-term ownership plans uncertain.
The Missouri transaction also combined the nursing facility with a hospital in a bankruptcy sale, rather than presenting The Living Center as a standalone acquisition. The parties did not publish the total consideration, so the reported difference from the initial bid does not establish the final purchase price or provide a full measure of the transaction’s financial terms.
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Ferncliff’s Capacity and Sale Process
ArchCare said it had invested in Ferncliff over several years but had struggled to achieve the operating efficiencies it considers necessary for the facility’s long-term financial stability. The organization has also reduced the number of beds it operates at the home: Ferncliff’s licensed capacity is 309 beds, while ArchCare has reduced its operating count to 196, according to the report.
The New York transaction requires approval from the New York State Department of Health. As of Sept. 24, the department said it had not received the required application for a change in operator. That status means the proposed sale had not yet reached the application stage described in the source report, and the stated timeline should not be read as a confirmed closing date.
In Missouri, the court-supervised process began with Strawberry Fields REIT as the stalking-horse bidder and concluded with a combined acquisition involving the hospital. The sale closed Sept. 8 after about six months of proceedings. The source material does not give further details about post-sale operations or any changes to services at The Living Center.
“ArchCare said it had struggled to achieve the operating efficiencies needed for Ferncliff’s long-term financial stability despite years of investment.”
— ArchCare, as reported by a local news outlet and Skilled Nursing News
Buyer and Sale Terms Remain Unknown
ArchCare has not identified Ferncliff’s prospective buyer or disclosed the sale price and financial terms. The department had not received the required change-of-operator application as of Sept. 24, and approval remains necessary. It is not clear when ArchCare or the buyer will file the application, whether regulators will approve the proposed transaction, or whether its terms could change before closing.
For The Living Center, the sale date and buyer are reported, but the final purchase price was not disclosed. The source also does not specify what operational arrangements followed the acquisition or whether services, staffing or facility plans changed after closing. Those details should not be inferred from the transaction announcement alone.
Regulatory Review Before Ferncliff Closes
The next concrete step for Ferncliff is the required application for a change in operator, followed by review by the New York State Department of Health. ArchCare has said the process could take as long as two years. Until the review is completed and the sale closes, the organization says it will continue to own and operate the facility.
For the Missouri transaction, the reported closing occurred Sept. 8, so the next developments would concern the facility’s operation under its new ownership rather than completion of the sale. The available report does not identify a specific follow-up milestone or announce operational changes.
Key Questions
Which nursing home did Strawberry Fields REIT buy?
It acquired The Living Center, a 99-bed skilled nursing facility connected to John Fitzgibbon Memorial Hospital in Marshall, Missouri. The sale closed Sept. 8 through a combined transaction involving the hospital.
Has ArchCare completed its sale of Ferncliff Nursing Home?
No. ArchCare has plans to sell Ferncliff, but the transaction remains subject to state regulatory approval. The organization is expected to continue owning and operating the facility until the process is complete and the sale closes.
Who is buying Ferncliff, and what is the sale price?
The buyer and financial terms have not been disclosed. The available report also said the New York State Department of Health had not received the required change-of-operator application as of Sept. 24.
How much did Strawberry Fields REIT pay for The Living Center?
The final purchase price was not disclosed. The reported final transaction price exceeded the original stalking-horse bid by approximately $2.3 million, but the source did not provide the final amount.
Source: rss
