Strawberry Fields REIT, Inc.

Strawberry Fields REIT, Inc. is a U.S.-based real estate investment trust that owns and finances healthcare-related properties, with a focus on skilled nursing and other long-term care facilities. Its business model centers on acquiring real estate, leasing properties to operators, and funding those assets with mortgage debt and other secured borrowings.

84,2 %

4,9 %

+32,4 %

— Strawberry Fields REIT, Inc.
	%
Healthcare property ownership	45% Acquisition and ownership of skilled nursing and other healthcare-related real estate.
Property leasing	35% Long-term leases of facilities to healthcare operators and tenants.
Mortgage and secured financing	20% Debt structures tied to property acquisitions and refinancings, including HUD-backed loans.

The company’s customers are healthcare operators that lease and use its facilities, especially skilled nursing and...

Skilled nursing operatorsprimary
Lease and operate nursing facilities on company-owned real estate for patient care and reimbursement-driven operations.
Long-term care tenantsprimary
Use specialized healthcare properties for assisted living, rehabilitation, or related care services.
Mortgage lenders and HUD-backed financing channelssecondary
Provide secured property financing used to acquire and refinance healthcare assets.

The company’s portfolio is concentrated in the United States, where it owns and finances healthcare properties across...

•United States is the core operating market for owned healthcare properties
•Properties and collateral are spread across multiple U.S. states
•Missouri facilities were acquired with a dedicated mortgage facility
•Indiana and Tennessee properties appear in acquisition and loan disclosures
•Some exposure to Israeli shekel exchange rates is disclosed

The company’s strategy is to expand its portfolio of income-producing healthcare real estate through acquisitions and...

Expand healthcare property portfoliomedium-term

Growth depends on adding income-producing facilities that can be leased to operators.

Optimize financing structureshort-term

Property ownership is capital intensive, so debt mix and maturity profile affect flexibility.

Manage interest rate exposureshort-term

Floating-rate borrowings can change cash flow and refinancing economics.

The main business risks come from tenant/operator credit quality, interest rate exposure, and the specialized nature of...

high

Interest rate risk

A meaningful portion of debt is floating rate and tied to SOFR, so higher rates reduce cash flow.

Scope: Floating-rate senior debt and mortgage facilities
Materiality: high

high

Tenant/operator credit risk

Lease payments depend on healthcare operators that may face reimbursement, occupancy, or liquidity pressure.

Scope: Skilled nursing and long-term care tenants
Materiality: high

medium

Refinancing and covenant risk

Debt maturities and financial covenants can constrain capital access if operating performance weakens.

Scope: Commercial bank loans and bond facilities
Materiality: high

medium

Geographic and currency exposure

Disclosures mention local/regional economic conditions and Israeli shekel exchange-rate effects.

Scope: Tenant or operator exposure outside the U.S. dollar base
Materiality: medium

Straight-line rent

Can create timing differences between cash flow and earnings

Real estate depreciation and impairment

Affects net income and asset carrying values

Debt and interest rate accounting

Affects financing costs and sensitivity to rate changes

Strawberry Fields REIT, Inc.

Interest rate risk

Tenant/operator credit risk

Refinancing and covenant risk

Geographic and currency exposure

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