Strawberry Fields Reit, Inc. · AMEX:STRW
Strawberry Fields Reit — Shareholder Meeting (May 2024)
19 slides from Strawberry Fields Reit's shareholder meeting presentation, May 30, 2024
Slide 1: Strawberry Fields REIT Annual Shareholder Meeting
Strawberry Fields REIT NYSE American: “STRW” Annual Shareholder Meeting May 30, 2024
Slide 2: 2024 Annual Shareholder Meeting Agenda
2024 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 five directors to hold office for a
Slide 3: 2023 Company Highlights
2023 Strawberry Fields REIT Company Highlights • Uplisted the Company’s stock “STRW” from the OTC to the New York Stock Exchange. • Successfully issued a 4th bond offering in Israel. • Completed the acquisition of 24 skilled nursing and assisted living facilities in Indiana. The largest acquisition
Slide 4: Board
Moishe Gubin, Chairman, who also serves as our Chief Executive Officer. Essel Bailey, Director, has spent the last 50 years engaged in the public and private healthcare capital markets, first as a lawyer specializing in corporate and real estate finance and then as an executive of several healthcare
Slide 5: Experienced Management
Moishe Gubin, our Chairman and founder, has served as the Chief Executive Officer since inception of the Company. From 2004 to 2014, Mr. Gubin was the Chief Financial Officer and Manager of Infinity Healthcare Management, LLC, a company engaged in managing skilled nursing facilities and other health
Slide 6: Financial Overview December 31, 2023
Strawberry Fields REIT Financial Overview December 31, 2023 CONSOLIDATED BALANCE SHEETS CONSOLIDATED STATEMENTS OF INCOME (Amounts in $000’s) December 31, (Amounts in $000’s) December 31, 2023 2023 Assets Real estate investments, net $ 518,314 Revenues Cash and cash equivalents 12,173 Rental revenue
Slide 7: Financial Overview March 31, 2024
Strawberry Fields REIT Financial Overview March 31, 2024 CONSOLIDATED BALANCE SHEETS CONSOLIDATED STATEMENTS OF INCOME March 31, Three (Amounts in $000’s) 2024 Months Assets March 31, Real estate investments, net $ 511,120 (Amounts in $000’s) 2024 Cash and cash equivalents 15,145 Restricted cash and
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: Adjusted FFO Growth 2018 – Projected 2024
Adjusted FFO Growth 2018 – Projected 2024 60,000 56,239 52,668 50,000 16.9% 51,076 CAGR 43,935 40,000 38,844 30,916 AFFO 30,000 22,027 20,000 10,000 0 2018 2019 2020 2021 2022 2023 Proj 2024* 9 *2024 projections include an additional $3.75mm of rent that will be collected during 2024 relating to the
Slide 10: Adjusted EBITDA 2018 – Projected 2024
Adjusted EBITDA 2018 – Projected 2024 100,000 89,408 90,000 10.6% 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 Proj 2024* 10 *2024 projections include an additional $3.75mm of rent that will be collecte
Slide 11: Base Rent Growth 2018 - Projected 2024
Base Rent* Growth 2018 - Projected 2024 120,000 100,000 8.8% 102,405 CAGR 86,839 82,158 75,323 77,738 80,000 72,763 61,621 BASE RENTS 60,000 40,000 20,000 - 2018 2019 2020 2021 2022 2023 Proj 2024** *Average Base Rent is calculated as the annual rents collected from tenants, including straight-line
Slide 12: Assets Growth 2018 – 2024 QTD
Assets Growth 2018 – 2024 QTD 900,000 800,000 6.5% 798,338 816,338 CAGR 686,168 686,168 700,000 625,249 633,632 560,705 REAL ESTATE INVESTMENT 600,000 500,000 400,000 300,000 200,000 100,000 - 2018 2019 2020 2021 2022 2023 Q1 2024 12
Slide 13: 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 Estimated AFFO $56,239,000 Payout Ratio 47.0% $1.08 $1.02 $0.96 Retained Cash Flow $29,786,000
Slide 14: STRW Stock Price-Trailing 12 Months
STRW Stock Price-Trailing 12 Months 11.00 9.99 10.00 9.00 8.28 7.94 7.95 7.58 7.95 7.90 8.00 7.27 7.21 6.90 7.00 6.34 6.22 STOCK PRICE 6.00 5.00 4.00 3.00 2.00 1.00 - 6/15/2023 7/15/2023 8/15/2023 9/15/2023 10/15/2023 11/15/2023 12/15/2023 1/15/2024 2/15/2024 3/15/2024 4/15/2024 5/15/2024 14
Slide 15: Debt Structure as of March 31, 2024
Debt Structure as of March 31, 2024 Debt Maturity Years HUD Guaranteed Debt 1-5 Banks 26.0% $269.4MM Weighted average cost: 3.91% Years 1-5 20.2% Secured Bank Debt Bonds $163.9MM Interest rate: SOFR+3.5% Years Secured Bond Series C 11.0% 11-20 $59.9MM HUD Interest rate: 5.70% 20+ Unsecured Bond Seri
Slide 16: 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 17: 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 18: 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 19: Moishe Gubin, 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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