Strawberry Fields REIT NYSE American: "STRW" November 8, 2024 Disclaimer The information contained in this presentation does not purport to be all-inclusive and neither the Company nor any of its subsidiaries or their respective stockholders, affiliates, representatives, control persons, partners, members, managers, directors, officers, employees, advisers or agents make any representation or warranty, express or implied, as to the accuracy, completeness or reliability of the information contained in this p ...

Financial Performance - Rental revenues for the nine months ended September 30, 2024, reached $86,570,000, a 16.5% increase compared to $74,325,000 for the same period in 2023[7] - Net income attributable to common stockholders for the nine months ended September 30, 2024, was $2,628,000, compared to $1,782,000 for the same period in 2023, reflecting a 47.5% increase[7] - The company reported a comprehensive income attributable to common stockholders of $2,628,000 for the nine months ended September 30, 2024, compared to $1,782,000 for the same period in 2023[7] - For the nine months ended September 30, 2024, net cash provided by operating activities was $34,525,000, compared to $42,006,000 for the same period in 2023[10] - The company reported net bonds, notes payable, and other debt of $579,629,000 as of September 30, 2024, up from $536,486,000 as of December 31, 2023, reflecting an increase of approximately 8%[77] - The company’s gross bonds, notes payable, and other debt totaled $584,508,000 as of September 30, 2024, compared to $539,145,000 as of December 31, 2023, indicating a rise of about 8.4%[77] - Total expenses for Q3 2024 were $13.4 million, up 5.7% from $12.7 million in Q3 2023, with notable increases in depreciation (9.2%) and amortization (59.4%)[187] - General and administrative expenses increased by $1.1 million or 27.4% in the nine months ended September 30, 2024, primarily due to higher insurance and corporate salaries[192] Assets and Liabilities - Total assets increased to $661,545,000 as of September 30, 2024, up from $616,795,000 on December 31, 2023, representing a growth of 7.5%[6] - Total liabilities rose to $606,326,000 as of September 30, 2024, compared to $569,522,000 at the end of 2023, indicating a 6.5% increase[6] - Goodwill and other intangible assets increased to $23,286,000 as of September 30, 2024, from $8,604,000 at the end of 2023, a significant increase of 171.5%[6] - The company’s total stockholders' equity increased to $55,219,000 as of September 30, 2024, up from $47,273,000 at the end of 2023, reflecting a growth of 16.5%[6] - The company had cash and cash equivalents of $53.2 million as of September 30, 2024, with the ability to offer an additional $350 million in bonds subject to market conditions[196] Cash Flow and Investments - Cash used in investing activities totaled $43,010,000 for the nine months ended September 30, 2024, compared to $113,550,000 in the same period of the previous year[10] - The net increase in cash and cash equivalents for the nine months ended September 30, 2024, was $15.5 million, contrasting with a decrease of $10.7 million in 2023[203] - Cash and cash equivalents at the end of the period for 2024 were $53.2 million, up from $35.0 million in 2023, marking an increase of approximately 52.1%[203] - The company expects to meet its long-term liquidity needs through various sources, including future equity issuances and net cash provided by operations[198] Debt and Financing - The company closed a mortgage loan facility in August 2023, borrowing approximately $66 million, with an interest rate of 8.42% as of September 30, 2024[81] - The Series A Bonds had an outstanding balance of $49.7 million as of September 30, 2024, with an interest rate of 6.97% per annum[86][87] - The Series C Bonds had an outstanding balance of $55.4 million as of September 30, 2024, with an initial interest rate of 5.7% per annum[97][98] - The company has committed to not pledge its assets under general liens without prior consent from bondholders[92] - The company’s financial covenants require that consolidated equity not be less than $20 million and that the ratio of indebtedness to EBITDA not exceed 10[88][101] Property and Operations - The Company owns approximately 14.2% of the outstanding OP units as of September 30, 2024, up from 12.6% as of December 31, 2023[12] - The Company's portfolio consists of 104 healthcare properties with an aggregate of 12,889 licensed beds, generating revenue primarily through long-term triple-net leases[14] - The Company owned 103 properties and leased 1 property as of September 30, 2024, with 25.7% of its total skilled nursing beds located in Indiana and 32.8% in Illinois[40] - The cumulative number of licensed beds increased from 12,201 as of December 31, 2023, to 12,889 as of September 30, 2024, representing an increase of about 5.6%[70] - The Company plans to acquire eight healthcare facilities in Missouri for $87.5 million, with the closing anticipated before year-end 2024[159] Rental Income and Revenue - The Company received rental income from related parties amounting to $53.2 million for the nine months ended September 30, 2024, compared to $40.6 million for the same period in 2023, representing a 31.8% increase[150] - Total future minimum rental revenues for the company's tenants are projected to be $733,212,000, with $25,068,000 expected in the three-month period of 2024[72] - Rental revenues increased by $3.7 million or 14.3% from $25.8 million in Q3 2023 to $29.5 million in Q3 2024, driven by higher income from additional properties and lease renewals[187] Depreciation and Amortization - The company reported a depreciation and amortization expense of $24,666,000 for September 2024, up from $21,266,000 in September 2023[10] - The increase in depreciation and amortization for the nine months ended September 30, 2024, was $3.4 million or 16.0%, primarily due to new property purchases[190] - Depreciation and amortization expenses for the nine months ended September 30, 2024, were $24.7 million, compared to $21.3 million in 2023, indicating an increase of about 16.0%[204] Compliance and Risk - The company was in compliance with all financial covenants as of September 30, 2024, including a debt service coverage ratio (DSCR) requirement of at least 1.05[82] - The company is subject to market concentration risk, with significant revenue generated from Medicare and Medicaid, making it vulnerable to regulatory changes[40] - The Company has potential exposure to claims for fraud and breach of contract related to post-closing obligations, but believes these claims are without merit[136]

Financial Performance - For the third quarter ended September 30, 2024, the Company reported Funds From Operations (FFO) of $15.2 million, a 26.3% increase from $12.0 million in the same quarter of 2023[5] - Adjusted Funds From Operations (AFFO) for the third quarter was $14.3 million, up 24.3% from $11.5 million year-over-year[6] - Net income increased to $6.9 million for Q3 2024, representing a 46.8% rise from $4.7 million in Q3 2023[11] - For the nine months ended September 30, 2024, FFO was $44.6 million, a 24.0% increase from $35.8 million in the same period of 2023[6] Revenue and Income - Rental income for Q3 2024 was $29.5 million, a 14.3% increase compared to $25.8 million in Q3 2023[6] - The Company achieved 100% collection of contractual rents during the quarter[2] Acquisitions - The Company completed the acquisition of two skilled nursing facilities for $15.25 million, funded by cash from the balance sheet, with an annual base rent of $1.5 million and 3% annual rent increases[4] - A second acquisition of an 83-bed skilled nursing facility and a 23-bed assisted living facility was completed for $6.7 million, with annual rent set at $670 thousand[5] Dividends and Equity - The Company declared a cash dividend of $0.14 per share, payable on December 30, 2024[16] - The Company has established an at-the-market equity program to enhance stock liquidity and facilitate growth[3]

Strawberry Fields REIT to Present at the LD Micro Main Event XVIIOctober 21, 2024 6:30 AM EDT | Source: LD MicroSouth Bend, Indiana--(Newsfile Corp. - October 21, 2024) - Strawberry Fields REIT (NYSE American: STRW) (the "Company") announced today that it will be presenting at the 17th annual Main Event on Wednesday, October 30th at 10:00 AM PT at the Luxe Sunset Boulevard Hotel. Moishe Gubin, Chairman & CEO, and Jeffrey Bajtner, Chief Investment Officer, will be representing the company.Straw ...

pinstock Over the past five years, real estate (VNQ) has been broadly disrupted by a variety of macroconomic factors. Between rising interest rates and the effects of the pandemic, each asset class faced a variety of unique emerging risk factors which have materially affected performance. Broadly speaking, real estate has stuggled over the past five years because of these headwinds and many more. VAL Vanguard Real Estate ETF (VNQ) Price % Change Vanguard Real Estate ETF (VNQ) Total Return -6.35% 12.66% 25.0 ...

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): May 14, 2024 Strawberry Fields REIT, Inc. (Exact name of registrant as specified in its charter) 6101 Nimtz Parkway South Bend, Indiana 46628 (Address of Principal Executive Of ice) (Zip Code) (574) 807-0800 (Registrant's telephone number, including area code) Check the appropriate box below if ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________________ to __________ Commission File Number: 001-41628 Strawberry Fields REIT, Inc. (Exact name of registrant as specified in its charter) (S ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File No. 001-41628 STRAWBERRY FIELDS REIT, INC. (Exact name of registrant as specified in its charter) Maryland 84-2336054 (Sta ...

PART I Financial Information [Condensed Financial Statements](index=4&type=section&id=Item%201.%20Condensed%20Financial%20Statements) This section presents Strawberry Fields REIT's unaudited condensed consolidated financial statements, including balance sheets, income, equity, and cash flow statements, with detailed notes [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of September 30, 2023, the company's total assets grew to $629.8 million from $547.0 million at the end of 2022, primarily driven by an increase in real estate investments Condensed Consolidated Balance Sheet Highlights (in $000's) | Account | September 30, 2023 (unaudited) | December 31, 2022 | | :--- | :--- | :--- | | **Total Assets** | **$629,820** | **$547,000** | | Real estate investments, net | $525,527 | $438,911 | | Cash and cash equivalents | $9,540 | $20,197 | | **Total Liabilities** | **$575,922** | **$497,616** | | Bonds, net | $104,170 | $74,412 | | Notes payable and other debt | $439,024 | $381,003 | | **Total Equity** | **$53,898** | **$49,384** | [Condensed Consolidated Statements of Income and Comprehensive Income](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income%20and%20Comprehensive%20Income) For the nine months ended September 30, 2023, net income increased significantly to $14.5 million from $9.3 million year-over-year, largely due to a positive swing in foreign currency transaction gains Income Statement Summary (in $000's, except per share data) | Metric | Nine Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2022 | Three Months Ended Sep 30, 2023 | Three Months Ended Sep 30, 2022 | | :--- | :--- | :--- | :--- | :--- | | Rental revenues | $74,325 | $68,972 | $25,771 | $24,235 | | Income from operations | $35,063 | $37,710 | $13,056 | $17,501 | | Net income | $14,525 | $9,272 | $4,704 | $9,250 | | Net income attributable to common stockholders | $1,782 | $1,020 | $589 | $1,018 | | Basic and diluted income per common share | $0.28 | $0.17 | $0.09 | $0.17 | [Condensed Consolidated Statements of Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Equity) Total equity increased from $49.4 million at December 31, 2022, to $53.9 million as of September 30, 2023, driven by net income and foreign currency translation gains, partially offset by dividends Changes in Total Equity (in $000's) | Description | Amount | | :--- | :--- | | **Balance, December 31, 2022** | **$49,384** | | Dividends (9 months) | ($2,100) | | Non-controlling interest distributions (9 months) | ($15,155) | | Net change in foreign currency translation (9 months) | $7,244 | | Net income (9 months) | $14,525 | | **Balance, September 30, 2023** | **$53,898** | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the first nine months of 2023, operating activities generated $42.0 million, investing activities used $113.6 million, and financing activities provided $60.9 million, resulting in a $10.7 million net decrease in cash Cash Flow Summary for Nine Months Ended September 30 (in $000's) | Cash Flow Category | 2023 | 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $42,006 | $37,421 | | Net cash used in investing activities | ($113,550) | ($8,469) | | Net cash provided by (used in) financing activities | $60,860 | ($43,850) | | **Decrease in cash and cash equivalents** | **($10,684)** | **($14,898)** | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Financial%20Statements) The notes detail business operations, accounting policies, and financial items, including 2023 property acquisitions, an impairment loss, debt portfolio specifics, related-party transactions, and subsequent events - The company's portfolio consists of **98** healthcare properties with **12,203** licensed beds, primarily under triple-net leases[21](index=21&type=chunk) - On August 25, 2023, the company acquired **24** healthcare facilities in Indiana for a total purchase price of **$102.0 million**[73](index=73&type=chunk) - A loss on real estate investment impairment of approximately **$2.5 million** was recorded during the nine-month period ended September 30, 2023, due to the closure of a facility in southern Illinois[76](index=76&type=chunk) - Subsequent to the quarter's end, the company paid off the remaining balance of its Series A Bonds on November 8, 2023, and the Board approved a dividend of **$0.12** per share for Q4 2023[182](index=182&type=chunk)[183](index=183&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=45&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management analyzes the company's financial performance, covering property acquisitions, debt financing, operating results, liquidity, capital resources, and non-GAAP reconciliations [Results of Operations](index=49&type=section&id=Results%20of%20Operations) Q3 2023 rental revenues rose 6.3% to $25.8 million, but net income fell 49.1% to $4.7 million; nine-month rental revenues grew 7.8% to $74.3 million, with net income up 56.7% to $14.5 million Comparison of Q3 2023 vs. Q3 2022 (in $000's) | Metric | Q3 2023 | Q3 2022 | Change (%) | | :--- | :--- | :--- | :--- | | Rental revenues | $25,771 | $24,235 | 6.3% | | General and administrative expenses | $1,560 | $730 | 113.7% | | Net income | $4,704 | $9,250 | (49.1%) | Comparison of Nine Months 2023 vs. 2022 (in $000's) | Metric | Nine Months 2023 | Nine Months 2022 | Change (%) | | :--- | :--- | :--- | :--- | | Rental revenues | $74,325 | $68,972 | 7.8% | | Foreign currency transaction gain (loss) | $81 | ($10,932) | 100.7% | | Net Income | $14,525 | $9,272 | 56.7% | [Liquidity and Capital Resources](index=52&type=section&id=Liquidity%20and%20Capital%20Resources) As of September 30, 2023, the company held $35.0 million in cash, with total debt at $543.2 million, facing significant balloon payments in 2026-2028 - As of September 30, 2023, the company had cash and cash equivalents and restricted cash of **$35.0 million**[224](index=224&type=chunk) - Total indebtedness was approximately **$543.2 million**, consisting of **$273.3 million** in HUD guaranteed debt, **$104.2 million** in bonds, and **$165.7 million** in commercial mortgage loans[228](index=228&type=chunk) - The company has significant future balloon payments, including **$49.9 million** for Series C Bonds and **$35.2 million** for Series D Bonds in 2026, **$86.1 million** for a commercial loan in 2027, and **$60.7 million** for another commercial loan in 2028[229](index=229&type=chunk) [Funds From Operations (FFO)](index=57&type=section&id=Funds%20From%20Operations%20%28FFO%29) For the nine months ended September 30, 2023, FFO was $35.8 million and AFFO was $37.9 million, showing increases from the prior year FFO and AFFO Reconciliation (in $000's) | Metric | Nine Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2022 | Three Months Ended Sep 30, 2023 | Three Months Ended Sep 30, 2022 | | :--- | :--- | :--- | :--- | :--- | | Net income | $14,525 | $9,272 | $4,704 | $9,250 | | **Funds from Operations (FFO)** | **$35,791** | **$30,929** | **$11,995** | **$16,342** | | **Funds from Operations, as Adjusted (AFFO)** | **$37,929** | **$36,361** | **$11,469** | **$10,866** | [Quantitative and Qualitative Disclosures About Market Risk](index=58&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market exposure is interest rate risk, with $165.7 million in variable-rate debt, and also faces foreign currency risk from Israeli Shekel-denominated bonds - The company's primary market risk is interest rate risk, with **$165.7 million** (**30.3%** of total debt) being floating rate debt tied to SOFR[259](index=259&type=chunk) - A 100 basis point increase in the one-month SOFR would decrease the company's annual cash flow by approximately **$1.6 million**[259](index=259&type=chunk) - The company is exposed to foreign currency exchange rate risk between the Israeli Shekel and the U.S. Dollar due to its bonds traded on the Tel Aviv Stock Exchange[260](index=260&type=chunk) [Controls and Procedures](index=59&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of September 30, 2023, with no material changes to internal control over financial reporting - Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of September 30, 2023[262](index=262&type=chunk) - No change in internal control over financial reporting occurred during the quarter that has materially affected, or is reasonably likely to materially affect, the company's internal control[263](index=263&type=chunk) PART II Other Information [Legal Proceedings](index=60&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in ongoing litigation regarding property acquisitions, with management believing claims are without merit and will not materially affect financial condition - The company is involved in a legal proceeding in Pulaski County, Arkansas, where plaintiffs allege fraud and breach of contract related to the Predecessor Company's acquisition of properties[265](index=265&type=chunk) - Management and the named defendants believe the claims are without merit and intend to vigorously defend the litigation, believing the matter will be resolved without a material adverse effect to the Company[267](index=267&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=61&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%2C%20Use%20of%20Proceeds%20and%20Issuer%20Repurchases%20of%20Equity%20Securities) In Q3 2023, the company issued 63,658 common shares in exchange for OP Units via a private placement under Section 4(a)(2) of the Securities Act - During the quarter ended September 30, 2023, the Company issued an aggregate of **63,658** shares of common stock in exchange for an equivalent number of OP Units[269](index=269&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________________ to __________ Commission File Number: 001-41628 Strawberry Fields REIT, Inc. (Exact name of registrant as specified in its charter) (St ...