Strawberry Fields REIT, Inc. reported significant financial growth in its latest quarterly filing, with rental revenues for the nine months ending September 30, 2025, reaching $114.9 million, a 33% increase from $86.6 million in the same period last year. The company’s net income also rose to $24.5 million, up 23% from $19.9 million in the prior year. This growth is attributed to the acquisition of 27 additional properties and the renegotiation of master leases, including a new master lease in Kentucky.
The company’s total assets increased to $880.6 million as of September 30, 2025, compared to $787.6 million at the end of 2024. This growth was primarily driven by a rise in real estate investments, which reached $693.4 million, up from $609.1 million. However, cash and cash equivalents decreased to $19.8 million from $48.4 million, reflecting increased investment activity, including the acquisition of nine skilled nursing facilities in Missouri for $59 million and other properties in Oklahoma and Texas.
Operationally, Strawberry Fields REIT expanded its portfolio to 132 healthcare properties, with a total of 15,542 licensed beds across ten states. The company’s engagement metrics indicate that all facilities are currently leased, and there have been no delinquencies in rent payments. The company’s strategic focus on triple-net leases allows it to generate stable income while minimizing operational risks associated with property management.
The company’s debt levels have also increased, with total liabilities rising to $818.0 million from $704.0 million at the end of 2024. This includes a significant increase in bonds, which rose to $309.5 million from $209.9 million. Despite the increase in debt, the company reported compliance with all financial covenants associated with its loans and bonds. Looking ahead, Strawberry Fields REIT anticipates continued growth through strategic acquisitions and expects to maintain its REIT status by distributing at least 90% of its taxable income to shareholders.
About Strawberry Fields REIT, Inc.
Strawberry Fields REIT, Inc. is a self-managed real estate company specializing in acquiring, owning, and leasing healthcare properties, primarily skilled nursing facilities and post-acute care centers. Its portfolio includes over 120 properties across multiple U.S. states, leased mainly on long-term triple-net agreements. The company leverages industry relationships, operational expertise, and diversified geographic holdings to generate stable rental income and long-term growth.
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