Strawberry Fields Reit, Inc. · AMEX:STRW
Strawberry Fields Reit — Shareholder Meeting (May 2025)
20 slides from Strawberry Fields Reit's shareholder meeting presentation, May 1, 2025
Slide 1: Annual Shareholder Meeting May 1, 2025
Strawberry Fields REIT NYSE American: “STRW” Annual Shareholder Meeting May 1, 2025
Slide 2: 2025 Annual Shareholder Meeting Agenda
2025 Strawberry Fields REIT Annual Shareholder Meeting Agenda • Introductory remarks by Moishe Gubin CEO & Chairman of the Board • Introduction of Board of Directors • Introduction of Management • Appointment of the Inspector of Elections • Proposals: 1. To elect six directors to hold office for a o
Slide 3: 2024 Company Highlights
2024 Strawberry Fields REIT Company Highlights • Completed our first public offering since going Public in 2022. • Commenced an ATM program. • Issued 3.34 million shares through a marketed offering. • Successfully issued a 5th bond offering in Israel. • Became duly listed on the NYSE/TASE and this w
Slide 4: Balance Sheet
Strawberry Fields REIT Balance Sheet 900,000 Total Assets 800,000 Real Estate Investment 700,000 Cash & Cash Equivalents 600,000 500,000 400,000 300,000 200,000 100,000 - 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 CONSOLIDATED BALANCE SHEETS Year-End (Amounts in $000’s) 2024 2023 Change % Ass
Slide 5: Q1 2025 Balance Sheet
Q1 2025 Strawberry Fields REIT Balance Sheet CONSOLIDATED BALANCE SHEETS (ESTIMATED) March 31, (Amounts in $000’s) 2025 2024 Change % Assets Real estate investments, net $ 629,376 $ 511,120 $ 118,256 23.1% Cash and cash equivalents 42,314 15,145 27,169 179.4% Restricted cash and equivalents 28,772 2
Slide 6: 2024 Income Statement
2024 Strawberry Fields REIT Income Statement 110,000 100,000 Revenue 90,000 FFO 80,000 AFFO 70,000 60,000 AFFO 50,000 40,000 30,000 20,000 10,000 - 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 CONSOLIDATED STATEMENTS OF INCOME Year-End (Amounts in $000’s) 2024 2023 Change % Revenues Rental reve
Slide 7: Q1 2025 Income Statement
Q1 2025 Strawberry Fields REIT Income Statement CONSOLIDATED STATEMENTS OF INCOME (ESTIMATED) Three Months Ended March 31, (Amounts in $000’s) 2025 2024 Change % Revenues Rental revenues $ 37,333 $ 27,834 9,499 34.1% Expenses: Depreciation $ 8,682 $ 7,194 $ 1,488 20.7% Amortization 2,588 904 1,684 1
Slide 8: Facility Map & Investment Strategy
Portfolio Composition Facility Map & Investment Strategy 109 Facilities Investment Criteria & Growth Strategy 10% projected ROI 12,49 total beds across 9 states 20% projected levered IRR over a 10-year investment horizon (initial term of the lease) (Illinois, Indiana, Arkansas, 12% projected R
Slide 9: Facility Operator & State Diversification
Facility Operator & State Diversification* Base Rent by Related Consultant Base Rent by State Texas 4% Landmark Other Other 5% 4% 10% Infinity of Illinois 12% Reliant Care Management Illinois 7% Missouri 17% 7% Kentucky Siena Healthcare Infinity of Indiana 19% 8% 27% Indiana 28% Hill Valley HC Tenne
Slide 10: Adjusted FFO Growth 2019 – 2024
Adjusted FFO Growth 2019 – 2024 60,000 55,825 52,668 12.6% 51,076 50,000 CAGR 43,935 40,000 38,844 30,916 AFFO 30,000 20,000 10,000 0 2019 2020 2021 2022 2023 2024 10
Slide 11: Adjusted EBITDA 2018 – 2024
Adjusted EBITDA 2018 – 2024 100,000 90,632 90,000 8.2% 79,342 80,000 CAGR 73,790 66,607 67,344 70,000 61,045 60,000 AEBITDA 48,942 50,000 40,000 30,000 20,000 10,000 - 2018 2019 2020 2021 2022 2023 2024 11
Slide 12: Base Rent Growth 2018 - 2024
Base Rent* Growth 2018 - 2024 120,000 7.6% 104,386 100,000 CAGR 86,839 82,158 75,323 77,738 80,000 72,763 61,621 BASE RENT 60,000 40,000 20,000 - 2018 2019 2020 2021 2022 2023 2024 12 *Average Base Rent is calculated as the annual rents collected from tenants, including straight-line adjustments.
Slide 13: Real Estate Investment Assets Growth 2018 – 2024
Assets Growth 2018 – 2024 900,000 844,154 800,000 6.2% 798,338 CAGR 686,168 686,168 700,000 633,632 625,249 REAL ESTATE INVESTMENT 600,000 500,000 400,000 300,000 200,000 100,000 - 2019 2020 2021 2022 2023 2024 13 *Average Base Rent is calculated as the annual rents collected from tenants, including
Slide 14: Industry Leading Growth In AFFO
Industry Leading Growth In AFFO Significant AFFO Growth driven Accretive reinvestment of cash flow, scaling operations and utilizing HUD debt Illustrative Reinvestment of Cash Flow AFFO/Share Growth1 2024 AFFO $56,825,000 Payout Ratio 49.5% $1.11 $1.02 Retained Cash Flow $27,635,000 $0.96 $0.82 $0.7
Slide 15: Historical STRW Stock Price
Historical STRW Stock Price 14.00 14.00 12.69 12.66 12.66 11.85 11.72 11.91 12.00 11.41 11.47 12.00 11.20 10.83 10.54 10.30 10.00 10.00 10.00 9.05 8.69 STOCK PRICE $/SHARE 8.25 8.00 7.99 7.63 7.72 7.79 7.94 7.95 8.00 8.00 6.80 7.06 7.04 7.03 6.88 7.00 6.95 6.33 6.00 6.00 4.00 4.00 2.00 2.00 - - 15
Slide 16: Debt Structure as of December 31, 2024
Debt Structure as of December 31, 2024 Debt Maturity HUD Guaranteed Debt Years 29.4% $262.1MM 1-5 Weighted average cost: 3.91% Banks Secured Bank Debt $198.4MM Years 31.7% Interest rate: SOFR+3.5% 1-5 Bonds SF REIT LTD* Secured Bond Series C $73.3MM Years Interest rate: 5.70% 12.0% 11-20 SF REIT LTD
Slide 17: Legal Disclaimer
Disclaimer The information contained in this presentation does not purport to be all-inclusive and neither the Company nor any of its subsidiaries or their respective stockholders, affiliates, representatives, control persons, partners, members, managers, directors, officers, employees, advisers or
Slide 18: Legal Disclaimer
Use of Projections This presentation contains projected financial information with respect to the Company. Such projected financial information constitutes forward-looking information and is for illustrative purposes only. The assumptions and estimates underlying such financial forecast information
Slide 19: Legal Disclaimer
We believe that the use of FFO, AFFO, EBITDA and Adjusted EBITDA (which can be defined as EBITDA net of the effects of straight-line rent, gain/loss on currency translation costs and the effects of credit provision for doubtful accounts) are helpful to our investors as these metrics are used by mana
Slide 20: Moishe Gubin and Jeff Bajtner contact details
Moishe Gubin Jeff Bajtner Chairman & CEO Chief Investment Officer Mgubin@sfreit.com Jbajtner@sfreit.com 6101 Nimtz Parkway South Bend, IN 46628 574.807.0800
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