Strawberry Field SEC Filings

Strawberry Fields REIT (STRW) Q2 2025 Form 10-Q highlights:

• Portfolio grew to 121 owned healthcare properties (14,752 beds) plus one sub-leased facility after acquiring 6 Kansas SNFs, one Oklahoma SNF and one Texas SNF for $40.5 m cash and creating a new 10-facility Kentucky master lease.
• Six-month rental revenue up 32% YoY to $75.2 m; operating income up 38% to $40.8 m. Higher interest expense (+52% to $25.2 m) from new bond issuances and note payable tempered growth, but net income still rose 20% to $15.7 m. EPS diluted $0.28 vs $0.26 despite share count nearly doubling due to OP-unit conversions.
• YTD operating cash flow more than doubled to $48.8 m, funding most of $40.4 m investing outflow. Cash & restricted cash jumped to $131.4 m (from $93.7 m).
• Balance sheet: assets +14% to $897.3 m; gross debt +18% to $794.1 m after issuing $86.0 m Series B (6.7%) and drawing additional Series A & C bonds, partly offset by $36.6 m senior-debt pay-down. Leverage rise cut total equity to $66.6 m (7.4% of assets) and pushed interest expense ratio higher.
• Note payable of $46.9 m at 10% created for Kentucky lease restructuring; weighted avg debt cost now 6.8% (bonds), 7.7% (bank), 3.3% (HUD).
• Foreign-currency translation loss of $16.7 m (Israeli-shekel bonds) swung OCI negative, reducing accumulated OCI to $(3.4) m.
• Company remains in compliance with all bond and bank covenants (DSCR ≥1.05; debt/EBITDA ≤8).

Key investor takeaways: STRW is scaling rapidly with accretive acquisitions and stronger cash generation, but leverage and FX exposure are rising, equity cushion is thinner, and costlier debt (10% note, 6.7%–7.0% bonds) may pressure coverage if rates stay high.

Filing: Strawberry Fields REIT, Inc. filed a Current Report on Form 8-K dated August 8, 2025. Disclosure: The Company furnished a press release and an investor presentation regarding financial results for the three months ended June 30, 2025, attached as Exhibit 99.1 and Exhibit 99.2 under Item 7.01. The filing states these materials are "furnished" and not "filed" pursuant to General Instruction B.2. The report includes a standard forward-looking statements caution and is signed by Moishe Gubin, Chief Executive Officer and Chairman, dated August 8, 2025.

Strawberry Fields REIT, Inc. (STRW) filed an 8-K to announce its next cash distribution.

• Dividend: $0.16 per common share.
• Record date: 16 Sep 2025.
• Payment date: 30 Sep 2025.

The only material item (Item 8.01) is the dividend declaration; no earnings, guidance, or transaction details were provided. Exhibit 99.1 contains the related press release, and Exhibit 104 is the Inline XBRL cover data. The disclosure supports the REIT’s income-oriented strategy but carries limited immediate valuation impact because it offers no new operating or financial metrics.

Strawberry Fields REIT (STRW) Form 4 filed 07/22/25: CEO & Director Moishe Gubin, acting through Gubin Enterprises Ltd., reported two transactions. On 06/30/25 he converted 100,000 shares of derivative securities to common stock at $0 (Code C), raising indirect holdings to 822,448 shares. On 07/21/25 he purchased 1,000 shares on the open market at $10.48 each (Code P), increasing total indirect ownership to 823,448 shares. The filing reflects a net addition of 101,000 shares and continued insider alignment; no derivative positions were listed after the transactions.

Transaction: On 06/30/2025, Strawberry Fields REIT (STRW) director Michael Blisko, through Blisko Enterprises Limited, bought 100,000 common shares at $9.57 (Form 4 code “C”). The purchase increases his indirect stake to 434,682 shares.

No sales or derivative positions were reported. The filing, signed 07/22/2025, involves one reporting person and reflects a routine insider acquisition.

At a dollar value of roughly $0.96 million, the trade may signal board-level confidence, though investors should weigh its materiality versus STRW’s market cap and liquidity.

Strawberry Fields REIT, Inc. (STRW) filed an 8-K reporting the closing of its previously announced purchase of nine skilled-nursing facilities in Missouri.

The transaction closed on 1 July 2025 at a $59 million purchase price. After applying a $2 million deposit paid in May, the Company used $57 million in cash and issued $2 million in OP Units of Strawberry Fields Realty LP to the sellers.

The assets comprise 686 licensed beds and are leased under two pre-existing master leases to unrelated operator groups. Lease expiration dates were reset to their original terms; all other material provisions remain unchanged, ensuring immediate and predictable rental income.

The acquisition was completed through newly formed, indirect subsidiaries of the operating partnership, with no incremental secured debt, preserving the REIT’s leverage profile while expanding its Midwest footprint.