$STRW
Strawberry Fields Reit Inc

2024 Q4 Form 10-Q Financial Statement

#000149315224044262 Filed on November 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $29.46M
YoY Change 14.33%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.134M
YoY Change 9.18%
% of Gross Profit
Operating Expenses $13.43M
YoY Change 5.65%
Operating Profit $16.03M
YoY Change 22.78%
Interest Expense $9.129M
YoY Change 8.25%
% of Operating Profit 56.95%
Other Income/Expense, Net
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings $944.0K
YoY Change 60.27%
Net Earnings / Revenue 3.2%
Basic Earnings Per Share $0.14
Diluted Earnings Per Share $0.14
COMMON SHARES
Basic Shares Outstanding 7.481M shares 6.879M shares
Diluted Shares Outstanding 6.950M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $29.29M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $661.5M
YoY Change 5.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $606.3M
YoY Change 5.28%
SHAREHOLDERS EQUITY
Retained Earnings $1.339M
YoY Change 3.8%
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.61M
YoY Change
Total Liabilities & Shareholders Equity $661.5M
YoY Change 5.04%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $944.0K
YoY Change 60.27%
Depreciation, Depletion And Amortization $7.134M
YoY Change 9.18%
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions $6.700M
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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DocumentType
10-Q
dei Document Quarterly Report
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dei Document Period End Date
DocumentPeriodEndDate
2024-09-30
dei Document Fiscal Year Focus
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dei Document Transition Report
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dei Entity File Number
EntityFileNumber
001-41628
dei Entity Registrant Name
EntityRegistrantName
Strawberry Fields REIT, Inc.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
MD
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
84-2336054
dei Entity Address Address Line1
EntityAddressAddressLine1
6101 Nimtz Parkway
dei Entity Address City Or Town
EntityAddressCityOrTown
South Bend
dei Entity Address State Or Province
EntityAddressStateOrProvince
IN
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
46628
dei City Area Code
CityAreaCode
(574)
dei Local Phone Number
LocalPhoneNumber
807-0800
dei Trading Symbol
TradingSymbol
STRW
dei Security Exchange Name
SecurityExchangeName
NYSE
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
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dei Entity Filer Category
EntityFilerCategory
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dei Entity Small Business
EntitySmallBusiness
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dei Entity Emerging Growth Company
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dei Entity Ex Transition Period
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dei Entity Shell Company
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us-gaap Depreciation
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us-gaap Adjustment For Amortization
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us-gaap Adjustment For Amortization
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dei Current Fiscal Year End Date
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dei Document Fiscal Period Focus
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dei Entity Central Index Key
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dei Security12b Title
Security12bTitle
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us-gaap Profit Loss
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CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
49384000 usd
CY2023Q1 us-gaap Dividends
Dividends
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
50142000 usd
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
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 Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
53898000 usd
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
47273000 usd
CY2024Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
153000 usd
CY2024Q1 us-gaap Dividends
Dividends
778000 usd
CY2024Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
5460000 usd
CY2024Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1350000 usd
CY2024Q1 us-gaap Profit Loss
ProfitLoss
5992000 usd
CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
48224000 usd
CY2024Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
507000 usd
CY2024Q2 us-gaap Dividends
Dividends
834000 usd
CY2024Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
5890000 usd
CY2024Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
2635000 usd
CY2024Q2 us-gaap Profit Loss
ProfitLoss
7040000 usd
CY2024Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
50668000 usd
CY2024Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
50668000 usd
CY2024Q3 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
213000 usd
CY2024Q3 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
3078000 usd
CY2024Q3 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
2399000 usd
CY2024Q3 us-gaap Dividends
Dividends
909000 usd
CY2024Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
5836000 usd
CY2024Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-869000 usd
CY2024Q3 us-gaap Profit Loss
ProfitLoss
6901000 usd
CY2024Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
55219000 usd
CY2024Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
55219000 usd
us-gaap Profit Loss
ProfitLoss
19933000 usd
us-gaap Profit Loss
ProfitLoss
14525000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
24666000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
21266000 usd
STRW Amortization Of Bond Issuance Costs
AmortizationOfBondIssuanceCosts
429000 usd
STRW Amortization Of Bond Issuance Costs
AmortizationOfBondIssuanceCosts
428000 usd
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
2451000 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
488000 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
401000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
2776000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
2270000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
419000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
238000 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
81000 usd
STRW Gain Loss On Foreign Currency Translation Adjustments
GainLossOnForeignCurrencyTranslationAdjustments
873000 usd
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
3001000 usd
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
1232000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-6087000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
6518000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
419000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
238000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
34525000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
42006000 usd
STRW Purchase Of Real Estate Investments
PurchaseOfRealEstateInvestments
-25897000 usd
STRW Purchase Of Real Estate Investments
PurchaseOfRealEstateInvestments
-108062000 usd
STRW Purchase Of Lease Rights
PurchaseOfLeaseRights
-18000000 usd
us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
6500000 usd
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
887000 usd
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
1012000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-43010000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-113550000 usd
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
808000 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
69208000 usd
STRW Proceeds From Issuance Of Bonds
ProceedsFromIssuanceOfBonds
62765000 usd
STRW Proceeds From Issuance Of Bonds
ProceedsFromIssuanceOfBonds
52382000 usd
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
2399000 usd
STRW Repayment Of Bonds
RepaymentOfBonds
10459000 usd
STRW Repayment Of Bonds
RepaymentOfBonds
11187000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
10149000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
15727000 usd
STRW Repayment Of Non Controlling Interest Redemption Liabilities
RepaymentOfNonControllingInterestRedemptionLiabilities
15753000 usd
STRW Payment Of Dividends
PaymentOfDividends
2521000 usd
STRW Payment Of Dividends
PaymentOfDividends
2100000 usd
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
17186000 usd
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
15155000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
873000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
23976000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
60860000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
15491000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-10684000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
37758000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
45704000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
53249000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
35020000 usd
us-gaap Interest Paid Net
InterestPaidNet
26060000 usd
us-gaap Interest Paid Net
InterestPaidNet
18186000 usd
STRW Foreign Currency Translation Adjustments
ForeignCurrencyTranslationAdjustments
3116000 usd
STRW Foreign Currency Translation Adjustments
ForeignCurrencyTranslationAdjustments
7244000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3017000 usd
STRW Right Of Use Lease Asset And Lease Liability Terminated
RightOfUseLeaseAssetAndLeaseLiabilityTerminated
2850000 usd
STRW Common Shares Issued For Property Acquisition
CommonSharesIssuedForPropertyAcquisition
3078000 usd
STRW Assumption Of Notes Payable And Other Debt For Property Acquisition
AssumptionOfNotesPayableAndOtherDebtForPropertyAcquisition
2800000 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_80A_eus-gaap--NatureOfOperations_zgAVQGLpzHKh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1. <span id="xdx_828_zd8dQWTg2lLl">Business</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 0pt 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 0pt 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 0pt 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 0pt 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. The Company owns approximately <span id="xdx_90C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20240930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--StrawberryFieldsRealtyLPMember__us-gaap--AwardTypeAxis__custom--OperatingPartnershipMember_zRRsj2S93mhi" title="Equity method investment ownership percentage">14.2</span>% and <span id="xdx_900_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--StrawberryFieldsRealtyLPMember__us-gaap--AwardTypeAxis__custom--OperatingPartnershipMember_zrniS8I9P5Vk" title="Equity method investment ownership percentage">12.6</span>% of the outstanding OP units as of September 30, 2024 and December 31, 2023, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 0pt 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 0pt 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 104 healthcare properties with an aggregate of 12,889 licensed beds. The Company holds fee title to 103 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 0pt 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 0pt 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 0pt 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 0pt 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 generally accepted accounting principles in the United States of America (“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, 2024, 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, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 0pt 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 0pt 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 0pt 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 0pt 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 0pt 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 0pt 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 sheets. 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_902_ecustom--NonControllingInterestOperatiingPercentage_pid_dp_uPure_c20240101__20240930_zxaOc2XBbIuf" title="Non-controlling interest operatiing percentage.">85.8</span>% and <span id="xdx_904_ecustom--NonControllingInterestOperatiingPercentage_pid_dp_uPure_c20230101__20231231_zUS5tTkEk4l3" title="Non-controlling interest operatiing percentage.">87.4</span>% of the outstanding OP Units issued by the Operating Partnership as of September 30, 2024 and December 31, 2023, 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 0pt 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 0pt 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 0pt 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 0pt 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 0pt 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 0pt 0pt 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 0pt 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 0pt 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
0.858 pure
CY2023 STRW Non Controlling Interest Operatiing Percentage
NonControllingInterestOperatiingPercentage
0.874 pure
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_842_eus-gaap--UseOfEstimates_zxqkSRhwWE29" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_869_zTL6k6yc8bOk">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q3 us-gaap Cash Uninsured Amount
CashUninsuredAmount
38300000 usd
CY2023Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
22700000 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_844_eus-gaap--ConcentrationRiskCreditRisk_zOCloV3W1ot5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_869_zNJPMSFxknxj">Concentrations of Credit Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 0pt 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 0pt 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 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 30, 2024, the Company held four notes receivable with an outstanding balance of $<span id="xdx_90D_eus-gaap--NotesReceivableNet_iI_pn5n6_c20240930_zCAovXO0Xej7" title="Notes receivable">16.8</span> million. The notes have maturities ranging from 2024 through 2046, and interest rates ranging from <span id="xdx_902_eus-gaap--LoansReceivableBasisSpreadOnVariableRate_iI_pid_dp_c20240930__srt--RangeAxis__srt--MinimumMember_zXtAQHOaZOy4" title="Receivables rate of interest">2</span>% to <span id="xdx_90B_eus-gaap--LoansReceivableBasisSpreadOnVariableRate_iI_pid_dp_c20240930__srt--RangeAxis__srt--MaximumMember_znzVoKz6gzuh" title="Receivables rate of interest">11.25</span>%. One of the notes is collateralized by tenants’ accounts receivable. All other notes receivable are uncollateralized as of September 30, 2024. As of December 31, 2023, the Company held four notes receivable for a total amount of $<span id="xdx_90D_eus-gaap--NotesReceivableNet_iI_pn5n6_c20231231_zPmbX8DuXR53" title="Notes receivable">17.7</span> million. As of September 30, 2024 all of these notes are paid monthly and are current.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q3 us-gaap Notes Receivable Net
NotesReceivableNet
16800000 usd
CY2023Q4 us-gaap Notes Receivable Net
NotesReceivableNet
17700000 usd
STRW Market Concentration Risk Description
MarketConcentrationRiskDescription
As of September 30, 2024 and December 31, 2023, the Company owned 103 and 97 properties and leased 1 property, respectively. The facilities are located in 9 states, with 40 of its total facilities in Indiana (which include 3,318 skilled nursing beds or 25.7% of the Company’s total beds) and 20 of its total facilities are located in Illinois (which include 4,226 skilled nursing beds or 32.8% 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.
CY2024Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
23963000 usd
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
25585000 usd
CY2024Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
769486000 usd
CY2023Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
737712000 usd
CY2024Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
240745000 usd
CY2023Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
219398000 usd
CY2024Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
528741000 usd
CY2023Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
518314000 usd
CY2024Q3 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
15250000 usd
CY2024Q3 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
4000000.0 usd
CY2024Q3 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
6700000 usd
CY2024Q3 us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
2800000 usd
CY2024Q3 us-gaap Noncash Or Part Noncash Acquisition Other Assets Acquired1
NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1
3100000 usd
CY2024Q3 us-gaap Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Shares Issued1
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationSharesIssued1
800000 shares
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
CY2023Q4 us-gaap Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
55900000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-47296000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
8604000 usd
CY2023Q4 STRW Acquisition Of Lease Rights
AcquisitionOfLeaseRights
18000000 usd
CY2023Q4 STRW Other Finite Lived Intangible Assets Amortization
OtherFiniteLivedIntangibleAssetsAmortization
-3318000 usd
CY2024Q3 us-gaap Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
73900000 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-50614000 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
23286000 usd
CY2024Q3 STRW Cumulative Number Of Facilities
CumulativeNumberOfFacilities
114 integer
CY2024Q3 STRW Cumulative Number Of Properties
CumulativeNumberOfProperties
104 integer
CY2023Q4 STRW Cumulative Number Of Facilities
CumulativeNumberOfFacilities
107 integer
CY2023Q4 STRW Cumulative Number Of Properties
CumulativeNumberOfProperties
97 integer
CY2024Q3 STRW Cumulative Number Of Facilities
CumulativeNumberOfFacilities
114 integer
CY2024Q3 STRW Cumulative Number Of Properties
CumulativeNumberOfProperties
104 integer
CY2023Q4 STRW Cumulative Number Of Facilities
CumulativeNumberOfFacilities
107 integer
CY2023Q4 STRW Cumulative Number Of Properties
CumulativeNumberOfProperties
97 integer
CY2024Q3 STRW Cumulative Number Of Operational Beds
CumulativeNumberOfOperationalBeds
12889 integer
CY2023Q4 STRW Cumulative Number Of Operational Beds
CumulativeNumberOfOperationalBeds
12201 integer
CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
25068000 usd
CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
98251000 usd
CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
89264000 usd
CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
90569000 usd
CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
87446000 usd
CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
342614000 usd
CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
733212000 usd
CY2024Q3 STRW Number Of Facilities Leased And Subleased To Thirdparties
NumberOfFacilitiesLeasedAndSubleasedToThirdparties
1 integer
CY2023Q4 STRW Number Of Facilities Leased And Subleased To Thirdparties
NumberOfFacilitiesLeasedAndSubleasedToThirdparties
1 integer
CY2024Q3 STRW Number Of Operational Beds
NumberOfOperationalBeds
68 integer
CY2023Q4 STRW Number Of Operational Beds
NumberOfOperationalBeds
68 integer
us-gaap Operating Lease Cost
OperatingLeaseCost
564000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
296000 usd
CY2024Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
180000 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
99000 usd
CY2024Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1290000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1542000 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
1290000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1542000 usd
CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y3M18D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y3M
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.041 pure
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.041 pure
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
99000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
397000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
397000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
397000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
100000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1390000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
100000 usd
CY2024Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1290000 usd
us-gaap Payments For Rent
PaymentsForRent
160000 usd
us-gaap Payments For Rent
PaymentsForRent
157000 usd
CY2024Q3 us-gaap Payments For Rent
PaymentsForRent
53000 usd
CY2023Q3 us-gaap Payments For Rent
PaymentsForRent
52000 usd
CY2024Q3 STRW Notes Payable Gross
NotesPayableGross
584508000 usd
CY2023Q4 STRW Notes Payable Gross
NotesPayableGross
539145000 usd
CY2024Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
4879000 usd
CY2023Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2659000 usd
CY2024Q3 us-gaap Notes Payable
NotesPayable
579629000 usd
CY2023Q4 us-gaap Notes Payable
NotesPayable
536486000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
3252000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
23588000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
161854000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
96250000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
70250000 usd
CY2024Q3 STRW Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
229314000 usd
CY2024Q3 us-gaap Long Term Debt
LongTermDebt
584508000 usd
CY2024Q3 STRW Number Of Outstanding Credit Related Instrument
NumberOfOutstandingCreditRelatedInstrument
42 integer
CY2023Q4 STRW Number Of Outstanding Credit Related Instrument
NumberOfOutstandingCreditRelatedInstrument
41 integer
STRW Percentage Of Maximum Additions Rate
PercentageOfMaximumAdditionsRate
0.015 pure
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.
us-gaap Proceeds From Rents Received
ProceedsFromRentsReceived
53200000 usd
us-gaap Proceeds From Rents Received
ProceedsFromRentsReceived
40616000 usd
CY2024Q3 us-gaap Proceeds From Rents Received
ProceedsFromRentsReceived
18277000 usd
CY2023Q3 us-gaap Proceeds From Rents Received
ProceedsFromRentsReceived
14330000 usd
STRW Interest Expenses With Respect To Bonds
InterestExpensesWithRespectToBonds
7825000 usd
STRW Interest Expenses With Respect To Bonds
InterestExpensesWithRespectToBonds
4460000 usd
CY2024Q3 STRW Interest Expenses With Respect To Bonds
InterestExpensesWithRespectToBonds
3089000 usd
CY2023Q3 STRW Interest Expenses With Respect To Bonds
InterestExpensesWithRespectToBonds
1803000 usd
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
16848000 usd
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
14046000 usd
CY2024Q3 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
5731000 usd
CY2023Q3 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
6161000 usd
STRW Interest Expenses With Respect To Leases
InterestExpensesWithRespectToLeases
126000 usd
STRW Interest Expenses With Respect To Leases
InterestExpensesWithRespectToLeases
54000 usd
CY2024Q3 STRW Interest Expenses With Respect To Leases
InterestExpensesWithRespectToLeases
34000 usd
CY2023Q3 STRW Interest Expenses With Respect To Leases
InterestExpensesWithRespectToLeases
17000 usd
STRW Other Financing Expenses Including Related Parties Net
OtherFinancingExpensesIncludingRelatedPartiesNet
247000 usd
CY2023Q3 STRW Other Financing Expenses Including Related Parties Net
OtherFinancingExpensesIncludingRelatedPartiesNet
150000 usd
us-gaap Financing Interest Expense
FinancingInterestExpense
24799000 usd
us-gaap Financing Interest Expense
FinancingInterestExpense
18807000 usd
CY2024Q3 us-gaap Financing Interest Expense
FinancingInterestExpense
8854000 usd
CY2023Q3 us-gaap Financing Interest Expense
FinancingInterestExpense
8131000 usd
STRW Financing Income Expense
FinancingIncomeExpense
771000 usd
STRW Financing Income Expense
FinancingIncomeExpense
824000 usd
CY2024Q3 STRW Financing Income Expense
FinancingIncomeExpense
264000 usd
CY2023Q3 STRW Financing Income Expense
FinancingIncomeExpense
266000 usd
us-gaap Interest Expense Other
InterestExpenseOther
24028000 usd
us-gaap Interest Expense Other
InterestExpenseOther
17983000 usd
CY2024Q3 us-gaap Interest Expense Other
InterestExpenseOther
8590000 usd
CY2023Q3 us-gaap Interest Expense Other
InterestExpenseOther
7865000 usd

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