Strawberry Fields REIT, Inc. reported significant financial growth in its latest 10-Q filing for the six months ending June 30, 2025. The company achieved rental revenues of $75.2 million, a 32% increase from $57.1 million in the same period last year. Net income rose to $15.7 million, up 20% from $13.0 million, with net income attributable to common stockholders reaching $3.5 million, a 110% increase compared to $1.7 million in the prior year. The basic and diluted income per common share also increased to $0.28 from $0.26.
The company’s total assets grew to $897.3 million as of June 30, 2025, compared to $787.6 million at the end of 2024. This increase was primarily driven by the acquisition of additional properties, which expanded the company’s portfolio to 130 healthcare properties, including skilled nursing facilities across 11 states. The total number of operational beds increased to 15,418, reflecting the company’s strategic focus on expanding its healthcare real estate investments.
In terms of operational metrics, Strawberry Fields REIT reported a significant rise in expenses, with total expenses for the six months ending June 30, 2025, amounting to $34.4 million, a 25% increase from $27.5 million in the previous year. This rise was attributed to higher depreciation and amortization costs, which increased due to the acquisition of new properties. Interest expenses also surged by 55% to $24.0 million, largely due to new loans and bond issuances.
Strategically, the company has been active in the acquisition space, completing several significant transactions in 2025. Notably, it entered into a new master lease for 10 properties in Kentucky and acquired multiple facilities in Kansas, Oklahoma, and Texas, which are expected to enhance rental income. The company also issued Series B Bonds worth approximately $89.5 million to support its financing needs. As of June 30, 2025, Strawberry Fields REIT maintained compliance with all financial covenants associated with its debt obligations.
Looking ahead, Strawberry Fields REIT expressed optimism about its growth trajectory, emphasizing its commitment to expanding its healthcare property portfolio while managing its debt levels effectively. The company plans to continue leveraging its operational cash flow and capital markets to fund future acquisitions and meet its liquidity needs. The management remains focused on maintaining its REIT status and ensuring that it meets the distribution requirements to its shareholders.
About Strawberry Fields REIT, Inc.
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