2023 Q4 Form 10-Q Financial Statement

#000149315223040248 Filed on November 13, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $25.48M $25.77M $24.24M
YoY Change 8.1% 6.34% 2.92%
Cost Of Revenue $3.307M $3.717M $3.873M
YoY Change -9.07% -4.03% 15.61%
Gross Profit $22.17M $22.05M $20.36M
YoY Change 11.23% 8.31% 0.81%
Gross Profit Margin 87.02% 85.58% 84.02%
Selling, General & Admin $1.688M $1.560M -$4.370M
YoY Change 154.6% -135.7% -283.07%
% of Gross Profit 7.61% 7.07% -21.46%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.969M $6.534M $6.335M
YoY Change 15.48% 3.14% -7.19%
% of Gross Profit 35.94% 29.63% 31.11%
Operating Expenses $9.797M $12.72M $6.734M
YoY Change 27.27% 88.82% -29.62%
Operating Profit $12.38M $13.06M $17.50M
YoY Change 1.14% -25.4% 64.64%
Interest Expense -$6.609M $8.433M $7.418M
YoY Change 27.32% 13.68% -223.33%
% of Operating Profit -53.4% 64.59% 42.39%
Other Income/Expense, Net -$48.00K $81.00K -$833.0K
YoY Change -147.06% -109.72%
Pretax Income $5.719M $4.704M $9.250M
YoY Change -19.98% -49.15% 100.43%
Income Tax
% Of Pretax Income
Net Earnings $714.0K $589.0K $1.018M
YoY Change -14.18% -42.14% 95.39%
Net Earnings / Revenue 2.8% 2.29% 4.2%
Basic Earnings Per Share $0.09 $0.17
Diluted Earnings Per Share $0.11 $0.09 $0.17
COMMON SHARES
Basic Shares Outstanding 6.430M shares 6.366M shares 6.044M shares
Diluted Shares Outstanding 6.367M shares 6.044M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $12.17M $9.540M $13.86M
YoY Change -39.73% -31.14% 6.1%
Cash & Equivalents $12.17M $9.540M $13.86M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $23.33M $24.77M $24.33M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $35.51M $34.31M $38.18M
YoY Change -18.81% -10.15% 5.88%
LONG-TERM ASSETS
Property, Plant & Equipment $519.9M $527.1M $445.2M
YoY Change 17.95% 18.41% -5.56%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $31.62M $31.68M $29.30M
YoY Change 1.03% 8.13% 6.99%
Total Long-Term Assets $581.3M $595.5M $505.4M
YoY Change 15.5% 17.83% -4.58%
TOTAL ASSETS
Total Short-Term Assets $35.51M $34.31M $38.18M
Total Long-Term Assets $581.3M $595.5M $505.4M
Total Assets $616.8M $629.8M $543.6M
YoY Change 12.76% 15.87% -3.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.91M $18.60M $14.64M
YoY Change 23.2% 27.06% 43.24%
Accrued Expenses $1.542M $1.595M $1.843M
YoY Change -15.88% -13.46% -13.72%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $18.45M $20.20M $16.48M
YoY Change 18.6% 22.53% 33.4%
LONG-TERM LIABILITIES
Long-Term Debt $536.5M $543.2M $457.5M
YoY Change 17.8% 18.72% -7.84%
Other Long-Term Liabilities $14.59M $12.53M $10.45M
YoY Change 33.92% 19.87% 6.91%
Total Long-Term Liabilities $551.1M $555.7M $468.0M
YoY Change 18.18% 18.75% -7.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.45M $20.20M $16.48M
Total Long-Term Liabilities $551.1M $555.7M $468.0M
Total Liabilities $569.5M $575.9M $484.5M
YoY Change 14.45% 18.88% -13.84%
SHAREHOLDERS EQUITY
Retained Earnings $1.232M $1.290M $1.413M
YoY Change -23.38% -8.7%
Common Stock $0.00 $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.507M $8.357M $6.679M
YoY Change
Total Liabilities & Shareholders Equity $616.8M $629.8M $543.6M
YoY Change 12.76% 15.87% -3.91%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income $714.0K $589.0K $1.018M
YoY Change -14.18% -42.14% 95.39%
Depreciation, Depletion And Amortization $7.969M $6.534M $6.335M
YoY Change 15.48% 3.14% -7.19%
Cash From Operating Activities $12.94M $16.45M $19.41M
YoY Change -4.2% -15.24% 196.86%
INVESTING ACTIVITIES
Capital Expenditures -$1.000K $102.0M $0.00
YoY Change -100.19% -100.0%
Acquisitions
YoY Change
Other Investing Activities $7.201M -$7.098M -$856.0K
YoY Change -743.52% 729.21% -477.09%
Cash From Investing Activities $7.202M -$109.1M -$856.0K
YoY Change -541.3% 12648.71% -98.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -17.40M 60.60M -24.34M
YoY Change 411.97% -349.0% -157.25%
NET CHANGE
Cash From Operating Activities 12.94M 16.45M 19.41M
Cash From Investing Activities 7.202M -109.1M -856.0K
Cash From Financing Activities -17.40M 60.60M -24.34M
Net Change In Cash 2.738M -32.08M -5.780M
YoY Change -67.69% 455.02% -60.73%
FREE CASH FLOW
Cash From Operating Activities $12.94M $16.45M $19.41M
Capital Expenditures -$1.000K $102.0M $0.00
Free Cash Flow $12.94M -$85.58M $19.41M
YoY Change -0.41% -540.85% -72.48%

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OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax
81000 usd
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us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
6354000 usd
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
22872000 usd
CY2023Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
2589000 usd
CY2022Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
1414000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2672000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3847000 usd
CY2023Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2022Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1193000 usd
us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
589000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
1018000 usd
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.28
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.17
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.17
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.09
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.09
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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6366090 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5925260 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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5925260 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6366548 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6044230 shares
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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35050000 usd
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OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
15074000 usd
CY2022Q1 us-gaap Profit Loss
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CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2022Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
4876000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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9036000 usd
CY2022Q2 us-gaap Profit Loss
ProfitLoss
5338000 usd
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2022Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
6047000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1589000 usd
CY2022Q3 us-gaap Profit Loss
ProfitLoss
9250000 usd
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
59098000 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
49384000 usd
CY2023Q1 us-gaap Dividends
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700000 usd
CY2023Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
4999000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
2318000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
4139000 usd
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2023Q2 us-gaap Dividends
Dividends
700000 usd
CY2023Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
4998000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1966000 usd
CY2023Q2 us-gaap Profit Loss
ProfitLoss
5682000 usd
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
52092000 usd
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
52092000 usd
CY2023Q3 us-gaap Dividends
Dividends
700000 usd
CY2023Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
5158000 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
2960000 usd
CY2023Q3 us-gaap Profit Loss
ProfitLoss
4704000 usd
CY2023Q3 us-gaap Profit Loss
ProfitLoss
4704000 usd
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
53898000 usd
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
53898000 usd
us-gaap Profit Loss
ProfitLoss
14525000 usd
us-gaap Profit Loss
ProfitLoss
9272000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
21266000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
21657000 usd
STRW Amortization Of Bond Issuance Costs
AmortizationOfBondIssuanceCosts
428000 usd
STRW Amortization Of Bond Issuance Costs
AmortizationOfBondIssuanceCosts
395000 usd
us-gaap Impairment Of Real Estate
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2451000 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
401000 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
317000 usd
us-gaap Increase Decrease In Other Current Assets
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2270000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
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us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
238000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
221000 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
81000 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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STRW Gain Loss On Foreign Currency Translation Adjustments
GainLossOnForeignCurrencyTranslationAdjustments
1624000 usd
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
1232000 usd
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
1063000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
6518000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
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us-gaap Operating Lease Payments
OperatingLeasePayments
238000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
221000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
42006000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
37421000 usd
STRW Purchase Of Real Estate Investments
PurchaseOfRealEstateInvestments
-108062000 usd
STRW Payments For Proceeds From Notes Receivable
PaymentsForProceedsFromNotesReceivable
6500000 usd
STRW Payments For Proceeds From Notes Receivable
PaymentsForProceedsFromNotesReceivable
9000000 usd
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
1012000 usd
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
531000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-113550000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-8469000 usd
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
808000 usd
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
69208000 usd
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
103588000 usd
STRW Proceeds From Issuance Of Bonds
ProceedsFromIssuanceOfBonds
52382000 usd
us-gaap Repayments Of Debt
RepaymentsOfDebt
15727000 usd
us-gaap Repayments Of Debt
RepaymentsOfDebt
106012000 usd
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
11187000 usd
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
30503000 usd
STRW Repayment Of Non Controlling Interest Redemption Liabilities
RepaymentOfNonControllingInterestRedemptionLiabilities
15753000 usd
STRW Payment Of Dividends
PaymentOfDividends
2100000 usd
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
15155000 usd
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
10923000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
60860000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-10684000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-14898000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
45704000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
52128000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
35020000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
37230000 usd
us-gaap Interest Paid Net
InterestPaidNet
18186000 usd
us-gaap Interest Paid Net
InterestPaidNet
17089000 usd
STRW Foreign Currency Translation Adjustments
ForeignCurrencyTranslationAdjustments
7244000 usd
STRW Foreign Currency Translation Adjustments
ForeignCurrencyTranslationAdjustments
25699000 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_80B_eus-gaap--NatureOfOperations_zn4OF0vyEgp1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1. <span id="xdx_824_z1rS7uyXRlD8">Business</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Overview</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The Company</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">STRAWBERRY FIELDS REIT, Inc. (the “Company”) is a Maryland corporation formed in July 2019. The Company commenced operations on June 8, 2021. The Company conducts its business through a traditional UPREIT structure in which substantially all of its assets are owned by subsidiaries of Strawberry Fields Realty, LP, a Delaware limited partnership formed in July 2019 (the “Operating Partnership”). The Company is the general partner of the Operating Partnership (“OP”). The Company owns approximately <span id="xdx_90E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20230930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--StrawberryFieldsRealtyLPMember__us-gaap--AwardTypeAxis__custom--OperatingPartnershipMember_zeKJnRVAbC86" title="Equity method investment ownership percentage">12.5</span>% and <span id="xdx_90A_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20221231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--StrawberryFieldsRealtyLPMember__us-gaap--AwardTypeAxis__custom--OperatingPartnershipMember_z0thOaxXWRu" title="Equity method investment ownership percentage">12.0</span>% of the outstanding OP units as of September 30, 2023 and December 31, 2022, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As the sole general partner of the Operating Partnership, the Company has the exclusive power under the partnership agreement to manage and conduct the business affairs of the Operating Partnership, subject to certain limited approval and voting rights of the limited partners. The Company may cause the Operating Partnership to issue additional OP units in connection with property acquisitions, compensation or otherwise. The Company became a publicly traded entity on September 21, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is engaged in the ownership, acquisition, financing and triple-net leasing of skilled nursing facilities and other post-acute healthcare properties. The Company’s portfolio consists of 98 healthcare properties with an aggregate of 12,203 licensed beds. The Company holds fee title to 97 of these properties and holds 1 property under a long-term lease. These properties are located in Arkansas, Illinois, Indiana, Kentucky, Michigan, Ohio, Oklahoma, Tennessee and Texas. The Company generates substantially all of its revenues by leasing its properties to tenants under long-term leases primarily on a triple-net basis, under which the tenant pays the cost of real estate taxes, insurance and other operating costs of the facility and capital expenditures. Each healthcare facility located at its properties is managed by a qualified operator with an experienced management team.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Interim Condensed Consolidated Financial Statements</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited, condensed consolidated financial statements of the Company have been prepared in accordance with GAAP for interim financial information, and the Securities and Exchange Commission (“SEC”) rules for interim financial reporting. Certain information and footnote disclosures normally included in the Condensed Consolidated financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations. However, in the opinion of management, the accompanying interim Condensed Consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the Company’s Condensed Consolidated financial position as of September 30, 2023, and the Condensed Consolidated results of operations and cash flows for the periods presented. The Condensed Consolidated results of operations for interim periods are not necessarily indicative of the results of operations to be expected for any subsequent interim period or for the fiscal year ending December 31, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Variable Interest Entity</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company consolidates the Operating Partnership, a variable interest entity (“VIE”) in which the Company is considered the primary beneficiary. The primary beneficiary is the entity that has (i) the power to direct the activities that most significantly impact the entity’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could be significant to the VIE.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Non-Controlling Interest</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A non-controlling interest is defined as the portion of the equity in an entity not attributable, directly or indirectly, to the primary beneficiary. Non-controlling interests are required to be presented as a separate component of equity on a Condensed Consolidated balance sheet. Accordingly, the presentation of net income is modified to present the income attributed to controlling and non-controlling interests. The non-controlling interest on the Company’s Condensed Consolidated balance sheets represents OP units not held by the Company and represents approximately <span id="xdx_90E_ecustom--NonControllingInterestOperatiingPercentage_pid_dp_uPure_c20230101__20230930_zOuX9nR5mYc7" title="Non-controlling interest operatiing percentage.">87.5</span>% and <span id="xdx_90C_ecustom--NonControllingInterestOperatiingPercentage_pid_dp_uPure_c20220101__20221231_z3L3ecERwytk" title="Non-controlling interest operatiing percentage.">88.0</span>% of the outstanding OP Units issued by the Operating Partnership as of September 30, 2023 and December 31, 2022, respectively. The holders of these OP units are entitled to share in cash distributions from the Operating Partnership in proportion to their percentage ownership of OP units. Net income is allocated to the non-controlling interest based on the weighted average of OP units outstanding during the period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Basis of Presentation</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company maintains its accounting records on an accrual basis in accordance with generally accepted accounting principles in the United States of America (“GAAP”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>STRAWBERRY FIELDS REIT, INC. and Subsidiaries</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
STRW Non Controlling Interest Operatiing Percentage
NonControllingInterestOperatiingPercentage
0.875 pure
CY2022 STRW Non Controlling Interest Operatiing Percentage
NonControllingInterestOperatiingPercentage
0.880 pure
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_844_eus-gaap--UseOfEstimates_zDy2b0KKtqa7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86F_zRxVLjhusjui">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management is required to make estimates and assumptions in the preparation of the Condensed Consolidated financial statements in conformity with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the Condensed Consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from management’s estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q3 us-gaap Cash
Cash
23000000.0 usd
CY2022Q4 us-gaap Cash
Cash
40700000 usd
CY2022Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
19400000 usd
STRW Increase Decrease Rent Percentage
IncreaseDecreaseRentPercentage
0.010 pure
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84E_eus-gaap--ConcentrationRiskCreditRisk_z6XeyL0wiAsd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86A_zYA6bgKHqcwi">Concentrations of Credit Risk</span> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments which potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash and cash equivalents, notes receivable and operating leases on owned properties. These financial instruments are subject to the possibility of loss of carrying value as a result of the failure of other parties to perform according to their contractual obligations or changes in market prices which may make the instrument less valuable. Cash and cash equivalents, restricted cash and equivalents are held with various financial institutions. From time to time, these balances exceed the federally insured limits. These balances are maintained with high quality financial institutions which management believes limits the risk.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With respect to notes receivable, the Company obtains various collateral and other protective rights, and continually monitors these rights, in order to reduce such possibilities of loss. In addition, the Company provides reserves for potential losses based upon management’s periodic review of our portfolio.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 30, 2023, the Company held five notes receivable with an outstanding balance of $<span id="xdx_90B_eus-gaap--ReceivablesNetCurrent_iI_pn5n6_c20230930_z5SxXVpcBUwh" title="Notes receivable balance outstanding">24.9</span> million. The notes have maturities ranging from 2023 through 2046, and interest rates ranging from <span id="xdx_904_eus-gaap--ReceivableWithImputedInterestEffectiveYieldInterestRate_pid_dp_uPure_c20230101__20230930__srt--RangeAxis__srt--MinimumMember_zkDJsqW1Q4bd" title="Notes receivable interest rate">2</span>% to <span id="xdx_906_eus-gaap--ReceivableWithImputedInterestEffectiveYieldInterestRate_pid_dp_uPure_c20230101__20230930__srt--RangeAxis__srt--MaximumMember_zEZXAnAQ9Dcg" title="Notes receivable interest rate">10.25</span>%. One of the notes is collateralized by tenants’ accounts receivable. All other notes receivable are uncollateralized as of September 30, 2023. As of December 31, 2022, the Company held five notes receivable for a total amount of $<span id="xdx_90C_eus-gaap--ReceivablesNetCurrent_iI_pn5n6_c20221231_zsLGvv6CnSog">19.4</span> million. As of September 30, 2023, all of these notes are paid monthly and are current. On October 25, 2023, one of these notes for $<span id="xdx_90F_eus-gaap--RepaymentsOfNotesPayable_pn5n6_c20231024__20231025__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zBIZULl4wYci" title="Repayments of notes payable">6.5</span> million was repaid in full.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
24900000 usd
STRW Market Concentration Risk Description
MarketConcentrationRiskDescription
As of September 30, 2023 and December 31, 2022, the Company owned 97 properties and leased 1 property. The properties are located in 9 states, with 20 properties of its total properties located in Illinois (which include 4,226 skilled nursing beds or 34.6% of the Company’s total beds) and 34 properties of its total properties in Indiana (which include 3,240 skilled nursing beds or 26.6% of the Company’s total beds). Since tenant revenue is primarily generated from Medicare and Medicaid, the operations of the Company are indirectly subject to the administrative directives, rules and regulations of federal and state regulatory agencies, including, but not limited to the Centers for Medicare & Medicaid Services, and the Department of Health and Aging in all states in which the Company operates.
CY2023Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
25480000 usd
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
25507000 usd
CY2023Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
737712000 usd
CY2022Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
633749000 usd
CY2023Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
212185000 usd
CY2022Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
194838000 usd
CY2023Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
525527000 usd
CY2022Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
438911000 usd
CY2023Q1 us-gaap Payments To Acquire Commercial Real Estate
PaymentsToAcquireCommercialRealEstate
6000000.0 usd
CY2023Q1 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
700000 usd
CY2023Q1 us-gaap Area Of Land
AreaOfLand
34824 sqft
CY2023Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P10Y
CY2023Q1 STRW Annualized Base Rent
AnnualizedBaseRent
600000 usd
CY2023Q1 STRW Percentage Of Annual Increase Rate
PercentageOfAnnualIncreaseRate
0.030 pure
CY2023Q3 us-gaap Payments To Acquire Commercial Real Estate
PaymentsToAcquireCommercialRealEstate
102000000.0 usd
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
2500000 usd
CY2021Q4 us-gaap Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
55900000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-41240000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
14660000 usd
CY2021Q4 STRW Other Finite Lived Intangible Assets Amortization
OtherFiniteLivedIntangibleAssetsAmortization
-2271000 usd
CY2022Q3 us-gaap Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
55900000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-43511000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
12389000 usd
CY2022Q4 us-gaap Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
55900000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-44268000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
11632000 usd
CY2022Q4 STRW Other Finite Lived Intangible Assets Amortization
OtherFiniteLivedIntangibleAssetsAmortization
-2271000 usd
CY2023Q3 us-gaap Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
55900000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-46539000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
9361000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
70410000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
70979000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
212470000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
559058000 usd
CY2023Q3 STRW Cumulative Number Of Properties
CumulativeNumberOfProperties
98 integer
CY2022Q4 STRW Cumulative Number Of Properties
CumulativeNumberOfProperties
79 integer
CY2023Q3 STRW Cumulative Number Of Facilities
CumulativeNumberOfFacilities
107 integer
CY2022Q4 STRW Cumulative Number Of Facilities
CumulativeNumberOfFacilities
83 integer
CY2023Q3 STRW Cumulative Number Of Properties
CumulativeNumberOfProperties
98 integer
CY2022Q4 STRW Cumulative Number Of Properties
CumulativeNumberOfProperties
79 integer
CY2023Q3 STRW Cumulative Number Of Operational Beds
CumulativeNumberOfOperationalBeds
12203 integer
CY2022Q4 STRW Cumulative Number Of Operational Beds
CumulativeNumberOfOperationalBeds
10332 integer
CY2023Q3 STRW Number Of Operational Units
NumberOfOperationalUnits
12203 integer
CY2023Q3 STRW Owned By Company Units
OwnedByCompanyUnits
106 integer
CY2023Q3 STRW Leased By Company Units
LeasedByCompanyUnits
1 integer
CY2023Q3 STRW Total Operational Units
TotalOperationalUnits
107 integer
CY2023Q3 STRW Number Of Operational Units
NumberOfOperationalUnits
12203 integer
CY2023Q3 STRW Owned By Company Units
OwnedByCompanyUnits
106 integer
CY2023Q3 STRW Leased By Company Units
LeasedByCompanyUnits
1 integer
CY2023Q3 STRW Total Operational Units
TotalOperationalUnits
107 integer
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
23410000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
94634000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
87155000 usd
CY2023Q3 STRW Number Of Facilities Leased And Subleased To Thirdparties
NumberOfFacilitiesLeasedAndSubleasedToThirdparties
1000 integer
CY2022Q4 STRW Number Of Facilities Leased And Subleased To Thirdparties
NumberOfFacilitiesLeasedAndSubleasedToThirdparties
1000 integer
CY2023Q3 STRW Number Of Operational Beds
NumberOfOperationalBeds
68000 integer
CY2022Q4 STRW Number Of Operational Beds
NumberOfOperationalBeds
68000 integer
us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
The lease has an initial term that expires on March 1, 2028, and has two five-year renewal options.
us-gaap Operating Lease Cost
OperatingLeaseCost
296000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
293000 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
99000 usd
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
99000 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1595000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1833000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
1595000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1833000 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y6M
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y3M
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.041 pure
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.041 pure
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
99000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
395000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
395000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
395000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
395000 usd
CY2023Q3 STRW Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
99000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1778000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
183000 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1595000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
157000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
152000 usd
CY2023Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
52000 usd
CY2022Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
55000 usd
CY2023Q3 STRW Notes Payable Gross
NotesPayableGross
546460000 usd
CY2022Q4 STRW Notes Payable Gross
NotesPayableGross
456791000 usd
CY2023Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
3266000 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1376000 usd
CY2023Q3 us-gaap Notes Payable
NotesPayable
543194000 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
455415000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
2832000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
28035000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
19627000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
98992000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
109735000 usd
CY2023Q3 STRW Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
287239000 usd
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
546460000 usd
CY2023Q3 STRW Number Of Outstanding Credit Related Instrument
NumberOfOutstandingCreditRelatedInstrument
42 integer
CY2022Q3 STRW Interest Expenses With Respect To Bonds
InterestExpensesWithRespectToBonds
2249000 usd
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
14046000 usd
CY2022Q4 STRW Number Of Outstanding Credit Related Instrument
NumberOfOutstandingCreditRelatedInstrument
40 integer
STRW Income Tax Description
IncomeTaxDescription
U.S. federal income tax law requires that a REIT distribute annually at least 90% of its net taxable income, excluding net capital gains, and that it pays tax at regular corporate rates to the extent that it annually distributes less than 100% of its net taxable income, including net capital gains. In addition, a REIT is required to pay a 4% nondeductible excise tax on the amount, if any, by which the distributions that it makes in a calendar year are less than the sum of 85% of its ordinary income, 95% of its capital gain net income and 100% of its undistributed income from prior years.
CY2023Q3 STRW Percentage Of Three Escalation Commencing
PercentageOfThreeEscalationCommencing
0.223 pure
CY2023Q3 STRW Percentage Of Four Escalation Commencing
PercentageOfFourEscalationCommencing
0.228 pure
CY2023Q3 STRW Percentage Of Annual Escalation Commencing
PercentageOfAnnualEscalationCommencing
0.02 pure
us-gaap Proceeds From Rents Received
ProceedsFromRentsReceived
40616000 usd
us-gaap Proceeds From Rents Received
ProceedsFromRentsReceived
40328000 usd
CY2023Q3 us-gaap Proceeds From Rents Received
ProceedsFromRentsReceived
14330000 usd
CY2022Q3 us-gaap Proceeds From Rents Received
ProceedsFromRentsReceived
13099000 usd
STRW Interest Expenses With Respect To Bonds
InterestExpensesWithRespectToBonds
4460000 usd
STRW Interest Expenses With Respect To Bonds
InterestExpensesWithRespectToBonds
5914000 usd
CY2023Q3 STRW Interest Expenses With Respect To Bonds
InterestExpensesWithRespectToBonds
1803000 usd
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
10349000 usd
CY2023Q3 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
6161000 usd
CY2022Q3 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
4975000 usd
STRW Interest Expenses With Respect To Leases
InterestExpensesWithRespectToLeases
54000 usd
STRW Interest Expenses With Respect To Leases
InterestExpensesWithRespectToLeases
60000 usd
CY2023Q3 STRW Interest Expenses With Respect To Leases
InterestExpensesWithRespectToLeases
17000 usd
CY2022Q3 STRW Interest Expenses With Respect To Leases
InterestExpensesWithRespectToLeases
19000 usd
STRW Other Financing Expenses Including Related Parties Net
OtherFinancingExpensesIncludingRelatedPartiesNet
247000 usd
STRW Other Financing Expenses Including Related Parties Net
OtherFinancingExpensesIncludingRelatedPartiesNet
97000 usd
CY2023Q3 STRW Other Financing Expenses Including Related Parties Net
OtherFinancingExpensesIncludingRelatedPartiesNet
150000 usd
CY2022Q3 STRW Other Financing Expenses Including Related Parties Net
OtherFinancingExpensesIncludingRelatedPartiesNet
38000 usd
us-gaap Financing Interest Expense
FinancingInterestExpense
18807000 usd
us-gaap Financing Interest Expense
FinancingInterestExpense
16420000 usd
CY2023Q3 us-gaap Financing Interest Expense
FinancingInterestExpense
8131000 usd
CY2022Q3 us-gaap Financing Interest Expense
FinancingInterestExpense
7281000 usd
STRW Financing Income Expense
FinancingIncomeExpense
824000 usd
STRW Financing Income Expense
FinancingIncomeExpense
518000 usd
CY2023Q3 STRW Financing Income Expense
FinancingIncomeExpense
266000 usd
CY2022Q3 STRW Financing Income Expense
FinancingIncomeExpense
418000 usd
us-gaap Interest Expense Other
InterestExpenseOther
17983000 usd
us-gaap Interest Expense Other
InterestExpenseOther
15902000 usd
CY2023Q3 us-gaap Interest Expense Other
InterestExpenseOther
7865000 usd
CY2022Q3 us-gaap Interest Expense Other
InterestExpenseOther
6863000 usd

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