Strawberry Fields REIT (STRW) 10-Q 8 Sep 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Sep. 08, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Entity File Number	000-56451
Entity Registrant Name	Strawberry Fields REIT, Inc.
Entity Central Index Key	0001782430
Entity Tax Identification Number	84-2336054
Entity Incorporation, State or Country Code	MD
Entity Address, Address Line One	6101 Nimtz Parkway,
Entity Address, City or Town	South Bend,
Entity Address, Country	IN
Entity Address, Postal Zip Code	46628
City Area Code	(574)
Local Phone Number	807-0800
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		6,044,230

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Assets
Real estate investments, net	$ 449,677	$ 462,728
Cash and cash equivalents	9,582	26,206
Restricted cash and equivalents	33,428	25,922
Straight-line rent receivable, net	23,104	23,262
Right of use lease asset	1,917	2,064
Goodwill, other intangible assets and lease rights	13,146	14,660
Deferred financing expenses	6,091	4,826
Notes receivable, net	17,444	9,831
Other assets	294	465
Total Assets	554,683	569,964
Liabilities
Accounts payable and accrued liabilities	13,501	20,654
Bonds, net	87,441	192,549
Senior debt	387,833	309,251
Operating lease liability	1,917	2,064
Other liabilities	9,685	10,396
Total Liabilities	500,377	534,914
Commitments and Contingencies (Note 8)
Equity
Common stock, $.0001 par value, 500,000,000 shares authorized, 6,044,230 and 5,849,746 shares issued and outstanding
Preferred stock, $.0001 par value, 100,000,000 shares authorized, 0 shares issued and outstanding
Additional paid in capital	4,327	4,327
Accumulated other comprehensive income	197	(2,455)
Retained earnings	395	393
Total Stockholders’ and Predecessor Equity	4,919	2,265
Noncontrolling interest	49,387	32,785
Total Equity	54,306	35,050
Total Liabilities and Equity	$ 554,683	$ 569,964

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	6,044,230	5,849,746
Common stock, shares outstanding	6,044,230	5,849,746
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues
Rental revenues	$ 21,778	$ 19,351	$ 44,737	$ 40,503
Expenses:
Depreciation	6,524	5,865	13,051	11,786
Amortization	757	757	1,514	1,514
General and administrative expenses	832	740	3,421	2,287
Property taxes	2,677	1,992	5,620	4,542
Facility rent expenses	128	123	259	248
Provision (credit) for doubtful accounts	413	(250)	663	93
Total expenses	11,331	9,227	24,528	20,470
Income from operations	10,447	10,124	20,209	20,033
Interest expense, net	(4,550)	(5,147)	(9,039)	(10,006)
Amortization of deferred financing costs	(129)	(75)	(187)	(151)
Mortgage insurance premium	(430)	(447)	(861)	(828)
Total interest expense	(5,109)	(5,669)	(10,087)	(10,985)
Other (loss) income:
Gain (loss) from sale of real estate investments		(88)		3,842
Foreign currency transaction loss			(10,100)	(6,844)
Total other loss		(88)	(10,100)	(3,002)
Net income	5,338	4,367	22	6,046
Less:
Net income attributable to predecessor		(3,264)		(4,943)
Net income attributable to noncontrolling interest	(4,751)	(978)	(20)	(978)
Net income attributable to common stockholders	587	125	2	125
Other comprehensive income:
Gain (loss) due to foreign currency translation	9,036	(2,834)	14,010	2,120
Reclassification of foreign currency transaction losses			10,100	6,844
Comprehensive (income) loss attributable to predecessor		2,117		(9,681)
Comprehensive (income) loss attributable to noncontrolling interest	(8,042)	636	(21,458)	636
Comprehensive income	$ 1,581	$ 44	$ 2,654	$ 44
Basic and diluted income per common share	$ 0.10	$ 0.02		$ 0.02
Weighted average number of common shares outstanding	5,879,667	5,844,166	5,864,789	5,844,166

Consolidated Statements of Equi

Consolidated Statements of Equity (Unaudited) - USD ($)	Total	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Common Stock [Member]
Beginning balance, value at Dec. 31, 2020	$ 13,420,000	$ 63,936,000	$ (23,775,000)	$ (26,741,000)
Beginning balance, shares at Dec. 31, 2020
Net change in foreign currency translation (unaudited)	11,798,000		11,798,000
Preferred dividends (unaudited)	(527,000)	(527,000)
Net income (unaudited)	1,679,000			1,679,000
Ending balance, value at Mar. 31, 2021	26,370,000	63,409,000	(11,977,000)	(25,062,000)
Ending balance, shares at Mar. 31, 2021
Beginning balance, value at Dec. 31, 2020	13,420,000	63,936,000	(23,775,000)	(26,741,000)
Beginning balance, shares at Dec. 31, 2020
Ending balance, value at Jun. 07, 2021	21,984,000	57,876,000	(14,094,000)	(21,798,000)
Ending balance, shares at Jun. 07, 2021
Beginning balance, value at Dec. 31, 2020	13,420,000	63,936,000	(23,775,000)	(26,741,000)
Beginning balance, shares at Dec. 31, 2020
Noncontrolling interest distributions
Net income (unaudited)	6,046,000
Ending balance, value at Jun. 30, 2021	22,370,000	4,077,000	(1,674,000)	125,000	19,842,000
Ending balance, shares at Jun. 30, 2021						5,844,166
Beginning balance, value at Mar. 31, 2021	26,370,000	63,409,000	(11,977,000)	(25,062,000)
Beginning balance, shares at Mar. 31, 2021
Net change in foreign currency translation (unaudited)	(2,117,000)		(2,117,000)
Preferred dividends (unaudited)	(533,000)	(533,000)
Members’ distributions	(5,000,000)	(5,000,000)
Net income (unaudited)	3,264,000			3,264,000
Ending balance, value at Jun. 07, 2021	21,984,000	57,876,000	(14,094,000)	(21,798,000)
Ending balance, shares at Jun. 07, 2021
Beginning balance, value at Mar. 31, 2021	26,370,000	63,409,000	(11,977,000)	(25,062,000)
Beginning balance, shares at Mar. 31, 2021
Net income (unaudited)	4,367,000
Ending balance, value at Jun. 30, 2021	22,370,000	4,077,000	(1,674,000)	125,000	19,842,000
Ending balance, shares at Jun. 30, 2021						5,844,166
Beginning balance, value at Jun. 07, 2021	21,984,000	57,876,000	(14,094,000)	(21,798,000)
Beginning balance, shares at Jun. 07, 2021
Net change in foreign currency translation (unaudited)	(717,000)		(81,000)		(636,000)
Net income (unaudited)	1,103,000			125,000	978,000
Formation transactions		(53,799,000)	12,501,000	21,798,000	19,500,000
Formation transactions, shares						5,844,166
Ending balance, value at Jun. 30, 2021	22,370,000	4,077,000	(1,674,000)	125,000	19,842,000
Ending balance, shares at Jun. 30, 2021						5,844,166
Beginning balance, value at Dec. 31, 2021	35,050,000	4,327,000	(2,455,000)	393,000	32,785,000
Beginning balance, shares at Dec. 31, 2021						5,849,746
Net change in foreign currency translation (unaudited)	15,074,000		1,658,000		13,416,000
Net income (unaudited)	(5,316,000)			(585,000)	(4,731,000)
Ending balance, value at Mar. 31, 2022	44,808,000	4,327,000	(797,000)	(192,000)	41,470,000
Ending balance, shares at Mar. 31, 2022						5,849,746
Beginning balance, value at Dec. 31, 2021	35,050,000	4,327,000	(2,455,000)	393,000	32,785,000
Beginning balance, shares at Dec. 31, 2021						5,849,746
Noncontrolling interest distributions	(4,876,000)
Preferred dividends (unaudited)	(4,500)
Net income (unaudited)	22,000
Ending balance, value at Jun. 30, 2022	54,306,000	4,327,000	197,000	395,000	49,387,000
Ending balance, shares at Jun. 30, 2022						6,044,230
Beginning balance, value at Mar. 31, 2022	44,808,000	4,327,000	(797,000)	(192,000)	41,470,000
Beginning balance, shares at Mar. 31, 2022						5,849,746
Issuance of common shares in exchange for OP units
Issuance of common shares in exchange for OP units, shares						194,484
Noncontrolling interest distributions	(4,876,000)				(4,876,000)
Net change in foreign currency translation (unaudited)	9,036,000		994,000		8,042,000
Net income (unaudited)	5,338,000			587,000	4,751,000
Ending balance, value at Jun. 30, 2022	$ 54,306,000	$ 4,327,000	$ 197,000	$ 395,000	$ 49,387,000
Ending balance, shares at Jun. 30, 2022						6,044,230

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net income	$ 22	$ 6,046
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	14,565	13,300
Gain from sale of Real Estate Investments		(3,842)
Amortization of bond issuance costs	330	526
Amortization of deferred financing costs	187	151
Increase in other assets	171	64
Amortization of right of use asset	147	141
Foreign currency transaction loss	10,100	6,844
Foreign currency translation adjustments	340	1,516
Decrease (increase) in straight-line rent receivables	158	(702)
Decrease in accounts payable and accrued liabilities and other liabilities	(7,864)	802
Repayment of operating lease liability	(147)	(141)
Net cash provided by operating activities	18,009	24,705
Cash flow from investing activities:
Proceeds from the sale of Real estate investments		129
Increase in notes receivable	(8,000)
Principal payments of notes receivable	387	284
Net cash (used in) provided by investing activities	(7,613)	413
Cash flows from financing activities:
Proceeds from senior debt, net of discount	103,548
Repayment of bonds	(91,768)	(12,627)
Proceeds from the sale of bonds		1,700
Repayment of senior debt	(26,418)	(5,000)
Noncontrolling interest distributions	(4,876)
Payment of Preferred dividends		(983)
Net cash used in financing activities	(19,514)	(16,910)
(Decrease) increase in cash and cash equivalents and restricted cash and equivalents	(9,118)	8,208
Cash and cash equivalents and restricted cash and equivalents at the beginning of the period	52,128	42,059
Cash and cash equivalents and restricted cash and equivalents at the end of the period	43,010	50,267
Supplemental Disclosure of Cash Flow Information:
Cash paid during the period for interest	9,970	9,630
Supplemental schedule of noncash investing activities:
Foreign currency translation adjustments	24,110	2,120
Accrued preferred unit dividends included in other liabilities		533
Note receivable in connection with real estate investment sale		9,027
Buyer assumption of senior debt in connection with real estate investment sale		16,945
Accrued members’ distributions		$ 5,000

Business

Business	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business	NOTE 1. Business Overview The Company STRAWBERRY FIELDS REIT Inc. (the “Company”) is a Maryland corporation formed in July 2019. The Company commenced operations on June 8, 2021, following the completion of the formation transactions described below. The Company conducts its business through a traditional UPREIT structure in which substantially all of its assets are owned by subsidiaries of Strawberry Fields Realty, LP, a Delaware limited partnership formed in July 2019 (the “Operating Partnership”). The Company is the general partner of the Operating Partnership. The Company completed the formation transactions on June 8, 2021. In connection with the formation transaction, the Company, the Operating Partnership and Strawberry Fields REIT, LLC (the “Predecessor Company” or “Predecessor”) entered into a contribution agreement, pursuant to which the Predecessor Company contributed all of its assets to the Operating Partnership, and the Operating Partnership assumed all of its liabilities. In exchange, the Operating Partnership issued limited partnership interests designated as common units (the “OP units”) to the Predecessor Company, which immediately distributed them to its members and beneficial owners. The Company offered certain of the holders of these OP units the opportunity to exchange their OP units for shares of common stock of the Company on a one for one basis. The Company limited the number of OP units that could be exchanged by some of the holders so that such holders would not become beneficial owners of more than 9.8 11.3 As the sole general partner of the Operating Partnership, the Company has the exclusive power under the partnership agreement to manage and conduct the business affairs of the Operating Partnership, subject to certain limited approval and voting rights of the limited partners. The Company may issue cause the Operating Partnership to issue additional OP units in connection with property acquisitions, compensation or otherwise. As of June 30, 2022, the Company owned 78 properties and leased one property that it in turn subleased to a tenant. Predecessor Company The Predecessor Company, Strawberry Fields, REIT LLC, was an Indiana limited liability company organized on August 4, 2014. The Predecessor Company primarily invested in real estate serving the healthcare industry in the United States. The Predecessor Company through its subsidiaries owned skilled nursing facilities, assisted nursing facilities, long-term acute care hospitals, and other healthcare related properties in the States of Illinois, Indiana, Michigan, Texas, Ohio, Tennessee, Kentucky, Oklahoma, and Arkansas. Prior to the formation transactions, the Predecessor Company owned 72 properties and leased one property that was subleased by the Predecessor Company to a tenant. STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 1. Business (Cont.) Interim Consolidated Financial Statements The accompanying unaudited, consolidated financial statements of the Company have been prepared in accordance with GAAP for interim financial information, and the Securities and Exchange Commission (“SEC”) rules for interim financial reporting. Certain information and footnote disclosures normally included in the consolidated financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations. However, in the opinion of management, the accompanying interim consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the Company’s consolidated financial position as of June 30, 2022, and the consolidated results of operations and cash flows for the periods presented. The consolidated results of operations for interim periods are not necessarily indicative of the results of operations to be expected for any subsequent interim period or for the fiscal year ending December 31, 2022. Variable Interest Entity The Company consolidates the Operating Partnership, a variable interest entity (“VIE”) in which the Company is considered the primary beneficiary. The primary beneficiary is the entity that has (i) the power to direct the activities that most significantly impact the entity’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could be significant to the VIE. Non-Controlling Interest A non-controlling interest is defined as the portion of the equity in an entity not attributable, directly or indirectly, to the primary beneficiary. Non-controlling interests are required to be presented as a separate component of equity on a consolidated balance sheets. Accordingly, the presentation of net income is modified to present the income attributed to controlling and non-controlling interests. The non-controlling interest on the Company’s consolidated balance sheets represents OP units not held by the Company and represents approximately 89 STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 1. Business (Cont.) Basis of Presentation The Company maintains its accounting records on an accrual basis in accordance with generally accepted accounting principles in the United States of America (“GAAP”). The following are summaries of the Predecessor Company’s Consolidated Statement of Income for the periods from January 1, 2021, through June 7, 2021, and April 1, 2021 through June 7, 2021 and the Company’s Statement of Income for the period from June 8, 2021, to June 30, 2021. These amounts are included in the accompanying Consolidated Statements of Income herein for the six and three month periods ended June 30, 2021. Interim Consolidated Financial Statements Schedule of Consolidated Financial Statement (Amounts in $000’s) Predecessor SF REIT, INC. January 1, 2021 through June 7, 2021 June 8, 2021 through June 30, 2021 TOTAL Revenues Rental revenues $ 35,440 $ 5,063 $ 40,503 Expenses: Depreciation $ 10,303 $ 1,483 $ 11,786 Amortization 1,323 191 1,514 General and administrative expenses 1,928 359 2,287 Property taxes 4,039 503 4,542 Facility rent expenses 217 31 248 Provision for doubtful accounts 93 - 93 Total expenses $ 17,903 $ 2,567 $ 20,470 Income from operations 17,537 2,496 20,033 Interest expense, net $ (8,769 ) $ (1,237 ) $ (10,006 ) Amortization of deferred financing costs (132 ) (19 ) (151 ) Mortgage insurance premium (691 ) (137 ) (828 ) Total interest expense $ (9,592 ) $ (1,393 ) $ (10,985 ) Other income (loss) Gain from sale of real estate investments 3,842 - 3,842 Foreign currency transaction loss (6,844 ) - (6,844 ) Net income $ 4,943 $ 1,103 $ 6,046 Less net income attributable to non-controlling interest $ - (978 ) (978 ) Net Income attributable to Predecessor Company - - (4,943 ) Net income attributable to common stockholders $ - $ 125 125 STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 1. Business (Cont.) Interim Consolidated Financial Statements (Cont.) Predecessor SF REIT, INC. April 1, 2021 through June 7, 2021 June 8, 2021 through June 30, 2021 TOTAL Revenues Rental revenues $ 14,288 $ 5,063 $ 19,351 Expenses: Depreciation $ 4,382 $ 1,483 $ 5,865 Amortization 566 191 757 General and administrative expenses 381 359 740 Property taxes 1,489 503 1,992 Facility rent expenses 92 31 123 Provision for doubtful accounts (250 ) - (250 ) Total expenses $ 6,660 $ 2,567 $ 9,227 Income from operations 7,628 2,496 10,124 Interest expense, net $ (3,910 ) $ (1,237 ) $ (5,147 ) Amortization of deferred financing costs (56 ) (19 ) (75 ) Mortgage insurance premium (310 ) (137 ) (447 ) Total interest expense $ (4,276 ) $ (1,393 ) $ (5,669 ) Other Loss- Other income (loss) Loss from sale of real estate investments (88 ) - (88 ) Gain (Loss) from sale of real estate investments (88 ) - (88 ) Net income $ 3,264 $ 1,103 $ 4,367 Less net income attributable to non-controlling interest $ - (978 ) (978 ) Net Income attributable to Predecessor Company - - (3,264 ) Net income attributable to common stockholders $ - $ 125 125

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2. Summary of Significant Accounting Policies Fiscal Year End The Company has adopted a fiscal year end of December 31. Use of Estimates Management is required to make estimates and assumptions in the preparation of the consolidated financial statements in conformity with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results may differ from management’s estimates. Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and the Predecessor Company, the Operating Partnership and its wholly-owned subsidiaries. Intercompany transactions and balances have been eliminated upon consolidation. STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 2. Summary of Significant Accounting Policies (cont.) Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand and short-term investments with original maturities of three months or less when purchased. The Company’s cash, cash equivalents and restricted cash and cash equivalents periodically exceed federally insurable limits. The Company monitors the cash balances in its operating accounts and adjusts the cash balances as appropriate; however, these cash balances could be impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, the Company has experienced no loss or lack of access to the cash in its operating accounts. On June 30, 2022 and December 31, 2021, the Company had $ 22,868,000 36,359,000 Restricted Cash and Cash Equivalents Restricted cash primarily consists of amounts held by mortgage lenders to provide for real estate tax expenditures, tenant improvements, capital expenditures and security deposits, as well as escrow accounts related to principal and interest payments on Bonds Real Estate Depreciation Real estate costs related to the acquisition and improvement of properties are capitalized and depreciated over the expected life of the asset on a straight-line basis. Repair and maintenance costs are charged to expense as incurred and significant replacements and betterments are capitalized. Repair and maintenance costs include all costs that do not extend the useful life of the real estate asset. The Company considers the period of future benefit of an asset to determine its appropriate useful life. Expenditures for tenant improvements are capitalized and amortized over the shorter of the tenant’s lease term or expected useful life. The Company anticipates the estimated useful lives of its assets by class to be generally as follows: Building and improvements 7 53 Equipment and personal property 1 14 STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 2. Summary of Significant Accounting Policies (cont.) Real Estate Valuation The Company makes estimates as part of its allocation of the purchase price of acquisitions to the various components of the acquisition based upon the fair value of each component. In determining fair value, current appraisals or other third-party valuations are used. The most significant components of these allocations are typically the allocation of fair value to land and buildings and, for certain of its acquisitions, in place leases and other intangible assets. In the case of the fair value of buildings and the allocation of value to land and other intangibles, the estimates of the values of these components will affect the amount of depreciation and amortization we record over the estimated useful life of the property acquired or the remaining lease term. In the case of the value of in place leases, the Company makes best estimates based on the evaluation of the specific characteristics of each tenant’s lease. Factors considered include estimates of carrying costs during hypothetical expected lease up periods, market conditions and costs to execute similar leases. These assumptions affect the amount of future revenue that the Company will recognize over the remaining lease term for the acquired in place leases. The Company evaluates each purchase transaction to determine whether the acquired assets meet the definition of a business. Transaction costs related to acquisitions that are not deemed to be businesses are included in the cost basis of the acquired assets, while transaction costs related to acquisitions that are deemed to be businesses are expensed as incurred. Revenue Recognition Rental income from operating leases is generally recognized on a straight-line basis over the terms of the leases. Substantially all of the Company’s leases contain provisions for specified annual increases over the rents of the prior year and are generally computed in one of three methods depending on specific provisions of each lease as follows: (i) a specified annual increase over the prior year’s rent, generally between 1.0 3.0 (ii) a calculation based on the Consumer Price Index; or (iii) specific dollar increases. Contingent revenue is not recognized until all possible contingencies have been eliminated. The Company considers the operating history of the lessee and the general condition of the industry when evaluating whether all possible contingencies have been eliminated and have historically, and expect in the future, to not include contingent rents as income until received. The Company follows a policy related to rental income whereby a lease is considered to be non-performing after 60 days of non-payment of past due amounts and do not recognize unpaid rental income from that lease until the amounts have been received. Rental revenues relating to non-contingent leases that contain specified rental increases over the life of the lease are recognized on the straight-line basis. Recognizing income on a straight-line basis requires us to calculate the total non-contingent rent containing specified rental increases over the life of the lease and to recognize the revenue evenly over that life. This method results in rental income in the early years of a lease being higher than actual cash received, creating a straight-line rent receivable asset included in our accompanying consolidated balance sheets. At some point during the lease, depending on its terms, the cash rent payments eventually exceed the straight-line rent which results in the straight-line rent receivable asset decreasing to zero over the remainder of the lease term. The Company assesses the collectability of straight-line rent in accordance with the applicable accounting standards and our reserve policy. If the lessee becomes delinquent in rent owed under the terms of the lease, we may provide a reserve against the recognized straight-line rent receivable asset for a portion, up to its full value, that we estimate may not be recoverable. STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 2. Summary of Significant Accounting Policies (Cont.) Revenue Recognition (Cont.) Capitalized above-market lease values are amortized as a reduction of rental income over the remaining terms of the respective leases. Capitalized below-market leases are accreted to rental income over the remaining terms of the respective leases and expected below-market renewal option periods. The Company reports revenues and expenses within our triple-net leased properties for real estate taxes that are escrowed and obligations of the tenants in accordance with their respective lease with us. Gain from sale of real estate investments is recognized when control of the property is transferred and it is probable that substantially all consideration will be collected. Allowance for Doubtful Accounts The Company evaluates the liquidity and creditworthiness of its tenants, operators and borrowers on a monthly and quarterly basis. The Company’s evaluation considers industry and economic conditions, individual and portfolio property performance, credit enhancements, liquidity and other factors. The Company’s tenants, borrowers and operators furnish property, portfolio and guarantor/operator-level financial statements, among other information, on a monthly or quarterly basis; the Company utilizes this financial information to calculate the lease or debt service coverages that it uses as a primary credit quality indicator. Lease and debt service coverage information is evaluated together with other property, portfolio and operator performance information, including revenue, expense, net operating income, occupancy, rental rate, reimbursement trends, capital expenditures and EBITDA (defined as earnings before interest, tax, and depreciation and amortization), along with other liquidity measures. The Company evaluates, on a monthly basis or immediately upon a significant change in circumstance, its tenants’, operators’ and borrowers’ ability to service their obligations with the Company. The Company maintains an allowance for doubtful accounts for straight-line rent receivables resulting from tenants’ inability to make contractual rent and tenant recovery payments or lease defaults. For straight-line rent receivables, the Company’s assessment is based on amounts estimated to be recoverable over the lease term. Impairment of Long-Lived Assets and Goodwill The Company assesses the carrying value of real estate assets and related intangibles (“real estate assets”) when events or changes in circumstances indicate that the carrying value may not be recoverable. The Company tests its real estate assets for impairment by comparing the sum of the expected future undiscounted cash flows to the carrying value of the real estate assets. The expected future undiscounted cash flows are calculated utilizing the lowest level of identifiable cash flows that are largely independent of the cash flows of other assets and liabilities. If the carrying value exceeds the expected future undiscounted cash flows, an impairment loss will be recognized to the extent that the carrying value of the real estate assets is greater than their fair value. Goodwill is tested for impairment at least annually based on certain qualitative factors to determine if it is more likely than not that the fair value of a reporting unit is less than its’ carrying value. Potential impairment indicators include a significant decline in real estate values, significant restructuring plans, current macroeconomic conditions, state of the equity and capital markets or a significant decline in the Company’s market capitalization. If the Company determines that it is more likely than not that the fair value of a reporting unit is less than its’ carrying value, the Company applies the required two-step quantitative approach. The quantitative procedures of the two-step approach (i) compare the fair value of a reporting unit with its carrying value, including goodwill, and, if necessary, (ii) compare the implied fair value of reporting unit goodwill with the carrying value as if it had been acquired in a business combination at the date of the impairment test. The excess fair value of the reporting unit over the fair value of assets and liabilities, excluding goodwill, is the implied value of goodwill and is used to determine the impairment amount, if any. The Company has selected the fourth quarter of each fiscal year to perform its annual impairment test. STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 2. Summary of Significant Accounting Policies (Cont.) Concentrations of Credit Risk Financial instruments which potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash and cash equivalents, notes receivable and operating leases on owned properties. The Company’s financial instruments, notes receivable and operating leases, are subject to the possibility of loss of carrying value as a result of the failure of other parties to perform according to their contractual obligations or changes in market prices which may make the instrument less valuable. Cash and cash equivalents, restricted cash and equivalents are held with various financial institutions. From time to time, these balances exceed the federally insured limits. These balances are maintained with high quality financial institutions which management believes limits the risk. With respect to notes receivable, the Company obtains various collateral and other protective rights, and continually monitor these rights, in order to reduce such possibilities of loss. In addition, the Company provides reserves for potential losses based upon management’s periodic review of our portfolio. At June 30, 2022 , the Company held three notes receivable for $ 17.4 9.8 Market Concentration Risk As of June 30, 2022 and December 31, 2021, the Company owned 78 properties and leases 1 property in 9 states, with 21 properties or 26.6% of its total properties located in Illinois (which include 4,327 skilled nursing beds or 41.50% of the Company’s total beds) and 15 properties or 19.0% of its total properties in Indiana (which include 1,388 skilled nursing beds or 13.3% of the Company’s total beds). Since tenant revenue is primarily generated from Medicare and Medicaid, the operations of the Company are indirectly subject to the administrative directives, rules and regulations of federal and state regulatory agencies, including, but not limited to, Centers for Medicare and Medicaid Services, and the Department of Health and Aging in all states in which the Company operates. Such administrative directives, rules and regulations, including budgetary reimbursement funding, are subject to change by an act of Congress, the passage of laws by the state regulators or an administrative change mandated by one of the executive branch agencies. Such changes may occur with little notice or inadequate funding to pay for the related costs, including the additional administrative burden, to comply with a change. Debt and Capital Raising Issuance Costs Costs incurred in connection with the issuance of equity interests are recorded as a reduction of additional paid-in capital. Debt issuance costs related to debt instruments, excluding line of credit arrangements, are deferred, recorded as a reduction of the related debt liability, and amortized to interest expense over the remaining term of the related debt liability utilizing the interest method. Deferred financing costs related to line of credit arrangements are deferred, recorded as an asset and amortized to interest expense over the remaining term of the related line of credit arrangement utilizing the interest method. Penalties incurred to extinguish debt and any remaining unamortized debt issuance costs, discounts and premiums are recognized as income or expense in the consolidated statements of income at the time of extinguishment. Segment Reporting Accounting guidance regarding disclosures about segments of an enterprise and related information establishes standards for the manner in which public business enterprises report information about operating segments. The Company’s investment decisions in health care properties, and resulting investments are managed as a single operating segment for internal reporting and for internal decision-making purposes. Therefore, the Company has concluded that it operates as a single segment. STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 2. Summary of Significant Accounting Policies (Cont.) Basic and Diluted Income Per Common Share The Company calculates basic income per common share by dividing net income attributable to common stockholders by the weighted average number of common shares outstanding during the period. At June 30, 2022, there were 47,212,167 Foreign Currency Translation and Transactions Assets and liabilities denominated in foreign currencies that are translated into U.S. dollars use exchange rates in effect at the end of the period, and revenues and expenses denominated in foreign currencies that are translated into U.S. dollars use average rates of exchange in effect during the related period. Gains or losses resulting from translation are included in accumulated other comprehensive income, a component of equity on the consolidated balance sheets. Gains or losses resulting from foreign currency transactions are translated into U.S. dollars at the rates of exchange prevailing at the dates of the transactions. The effects of transaction gains or losses, if any, are included in other (loss) income, in the consolidated statements of income. Fair Value Measurement The Company measures and discloses the fair value of nonfinancial and financial assets and liabilities utilizing a hierarchy of valuation techniques based on whether the inputs to a fair value measurement are considered to be observable or unobservable in a marketplace. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. This hierarchy requires the use of observable market data when available. These inputs have created the following fair value hierarchy: ● Level 1—quoted prices for identical instruments in active markets; ● Level 2—quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and ● Level 3—fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company measures fair value using a set of standardized procedures that are outlined herein for all assets and liabilities which are required to be measured at fair value. When available, the Company utilizes quoted market prices from an independent third-party source to determine fair value and classifies such items in Level 1. In instances where a market price is available, but the instrument is in an inactive or over-the-counter market, the Company consistently applies the dealer (market maker) pricing estimate and classifies the asset or liability in Level 2. If quoted market prices or inputs are not available, fair value measurements are based upon valuation models that utilize current market or independently sourced market inputs, such as interest rates, option volatilities, credit spreads and/or market capitalization rates. Items valued using such internally generated valuation techniques are classified according to the lowest level input that is significant to the fair value measurement. As a result, the asset or liability could be classified in either Level 2 or Level 3 even though there may be some significant inputs that are readily observable. Internal fair value models and techniques used by the Company include discounted cash flow valuation models. STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 2. Summary of Significant Accounting Policies (Cont.) Stock-Based Compensation The Company accounts for share-based payment awards in accordance with ASC Topic 718, Compensation – Stock Compensation (“ASC 718”). ASC 718 requires that the cost resulting from all share-based payment transactions be recognized in the consolidated financial statements. ASC 718 requires all entities to apply a fair value-based measurement method in accounting for share-based payment transactions. The Company recognizes share-based payments over the vesting period. Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Measurement of Credit Losses on Financial Instruments Upon adoption of ASU 2016-13, the Company is required to reassess its financing receivables, including leases and notes receivable, and expects that application of ASU 2016-13 may result in the Company recognizing credit losses at an earlier date than would otherwise be recognized under current accounting guidance. On October 16, 2019 the FASB approved ASU 2019-10 which extends the effective date of ASU 2016-13 to January 1, 2023, for smaller reporting companies. Adoption of ASU 2016-13 on January 1, 2023, is not expected to be material to the Company’s consolidated financial position and results of operations. STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Restricted Cash and Equivalents

Restricted Cash and Equivalents	6 Months Ended
	Jun. 30, 2022
Cash and Cash Equivalents [Abstract]
Restricted Cash and Equivalents	NOTE 3. Restricted Cash and Equivalents The following table presents the Company’s restricted cash and equivalents and escrow deposits: Schedule of Restricted Cash and Equivalents and Escrow Deposits June 30, December 31, 2022 2021 (amounts in $000’s) Escrow with trustee $ 12,038 $ 1,255 MIP escrow accounts 1,289 886 Other escrow and debt deposits 244 832 Property tax and insurance escrow 3,635 3,511 Interest reserve bonds escrow 2,734 6,161 HUD replacement reserves 13,488 13,277 Total restricted cash and equivalents $ 33,428 $ 25,922 Escrow with trustee MIP escrow Other escrow and debt deposits Property tax and insurance escrow Interest reserve bonds escrow - HUD replacement reserves

Real Estate Investments, net

Real Estate Investments, net	6 Months Ended
	Jun. 30, 2022
Real Estate [Abstract]
Real Estate Investments, net	NOTE 4. Real Estate Investments, net Real estate investments consist of the following: Schedule of Real Estate Investment Estimated June 30, December 31, Useful Lives 2022 2021 (Years) (Amounts in $000’s) Buildings and improvements 7 53 $ 494,015 $ 494,015 Equipment and personal property 1 14 78,011 78,011 Land - 60,010 60,010 Real estate investments, gross 632,036 632,036 Less: accumulated depreciation (182,359 ) (169,308 ) Real estate investments, net $ 449,677 $ 462,728 For the six-month periods ended June 30, 2022 and 2021, total depreciation expense was $ 13 11.8 6.5 5.9 STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Intangible Assets and Goodwill

Intangible Assets and Goodwill	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	NOTE 5. Intangible Assets and Goodwill Intangible assets consist of the following goodwill, Certificate of Need (“CON”) licenses and lease rights: Schedule of Intangible Assets and Goodwill Goodwill including CON Licenses Lease Rights Total (Amounts in $000’s) Balances, December 31, 2020 Gross $ 1,323 $ 54,577 $ 55,900 Accumulated amortization - (38,212 ) (38,212 ) Net carrying amount 1,323 16,365 17,688 Amortization - (1,514 ) (1,514 ) Balances, June 30, 2021 Gross 1,323 54,577 55,900 Accumulated amortization - (39,726 ) (39,726 ) Net carrying amount $ 1,323 $ 14,851 $ 16,174 Balances, December 31, 2021 Gross $ 1,323 $ 54,577 $ 55,900 Accumulated amortization - (41,240 ) (41,240 ) Net carrying amount 1,323 13,337 14,660 Amortization - (1,514 ) (1,514 ) Balances, June 30, 2022 Gross 1,323 54,577 55,900 Accumulated amortization - (42,754 ) (42,754 ) Net carrying amount $ 1,323 $ 11,823 $ 13,146 Estimated amortization expense for all lease rights for each of the future years ending December 31, is as follows: Schedule of Estimated Amortization Expenses Amortization of (Amounts in $000’s) 2022 (six months) $ 1,514 2023 3,028 2024 3,028 2025 3,028 2026 675 Thereafter 550 Total $ 11,823 STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Leases

Leases	6 Months Ended
	Jun. 30, 2022
Leases
Leases	NOTE 6. Leases As of June 30, 2022 and December 31, 2021, the Company had leased 79 properties to tenant/operators in the States of Illinois, Indiana, Michigan, Ohio, Texas, Kentucky, Tennessee, Oklahoma and Arkansas. As of June 30, 2022 and December 31, 2021, except for two formerly long-term acute care hospitals (“LTACH”) facilities, all of the Company’s facilities were leased. Most of these facilities are leased on a triple net basis, meaning that the lessee ( i.e The following table provides additional information regarding the properties owned/leased by the for the periods indicated: Schedule of Properties Owned and Leased Information June 30, December 31, 2022 2021 Cumulative number of properties 79 79 Cumulative number of operational beds 10,426 10,426 The following table provides additional information regarding the properties/facilities leased by the Company as of June 30, 2022: Schedule of Additional Information on Properties Facilities Leased State Number of Owned by Company Leased by Company Total Illinois 4,327 21 - 21 Indiana 1,388 14 1 15 Michigan 100 1 - 1 Ohio 238 4 - 4 Tennessee 1,056 12 - 12 Kentucky 1,045 9 - 9 Arkansas 1,572 13 - 13 Oklahoma (*) 137 1 - 1 Texas (*) 563 3 - 3 Total properties 10,426 78 1 79 Facility Type Skilled Nursing Facilities 10,174 71 1 72 Long-Term Acute Care Hospitals 153 4 - 4 Assisted Living Facility 99 3 - 3 Total facilities 10,426 78 1 79 (*) Each property is comprised of a skilled nursing facility and long-term acute care hospital. As of June 30, 2022, total future minimum rental revenues for the Company’s tenants are as follows: Schedule of Future Minimum Rental Revenues Year Amount (Amounts in $000s) 2022 (six-month period) $ 40,289 2023 80,987 2024 82,395 2025 72,171 2026 52,976 Thereafter 160,193 Total $ 489,011 STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 6. Leases (cont.) The following table provides summary information regarding the number of operational beds associated with a property leased by the Company and subleased to third-party operators: Schedule of Property Leases to Third Parties June 30, December 31, 2022 2021 Number of facilities leased and subleased to third-parties 1 1 Number of operational beds 68 68 Future minimum operating lease payments under non-cancellable leases as of June 30, 2022, reconciled to the Company’s operating lease liability presented on the consolidated balance sheets: Schedule of Future Minimum Lease Payments On Non Cancellable Leases (Amounts in $000s) 2022 (six-month period) $ 187 2023 375 2024 375 2025 375 2026 375 Thereafter 468 Total $ 2,155 Less Interest (238 ) Total operating lease liability $ 1,917 Other Properties leased by the Company The Company, through one of its subsidiaries, leases its office spaces from related parties. Rental expense under the leases for the six-month periods ended June 30, 2022 and 2021, was $ 97,000 99,000 46,000 49,500

Notes Payable and Other Debt

Notes Payable and Other Debt	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Notes Payable and Other Debt	NOTE 7. Notes Payable and Other Debt Notes Payable and Other Debt consist of the following: Schedule of Notes Payable and Other Debt Weighted Interest Rate at June 30, June 30, December 31, 2022 2022 2021 (Amounts in $000s) HUD guaranteed bank loans 3.23 % $ 279,481 $ 283,108 Bank loans 5.20 % 106,998 24,789 Series A, Series B and Series C Bonds 6.12 % 89,934 194,926 Loans from others 5.48 % 1,354 $ 1,354 Gross Notes Payable and other Debt $ 477,767 $ 504,177 Debt issuance costs (2,493 ) (2,377 ) Net Notes Payable and other Debt $ 475,274 $ 501,800 STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 7. Notes Payable and Other Debt (Cont.) Principal payments on the Notes Payable and Other Debt payable through maturity are as follows (amounts in $000s): Schedule of Notes Payable and Other Debt Payables Maturity Year Ending December 31, 2022 (six-month period) $ 16,170 2023 28,296 2024 25,870 2025 15,589 2026 57,617 Thereafter 334,225 Total $ 477,767 Debt Covenant Compliance As of June 30, 2022 and December 31, 2021, the Company was party to approximately 41 and 42 outstanding credit related instruments, respectively. These instruments included credit facilities, mortgage notes, bonds and other credit obligations. Some of the instruments include financial covenants. Covenant provisions include, but are not limited to, debt service coverage ratios, and minimum levels of EBITDA (defined as earnings before interest, tax, and depreciation and amortization) or EBITDAR (defined as earnings before interest, tax, depreciation and amortization and rental expense). Some covenants are based on annual financial metric measurements, and some are based on quarterly financial metric measurements. The Company routinely tracks and monitors its compliance with its covenant provisions. As of June 30, 2022, the Company was in compliance with all financial and administrative covenants. Closing mortgage loan facility/repayment of Series B Bonds On March 21, 2022, the Company closed a mortgage loan facility with a commercial bank pursuant to which the Company borrowed approximately $ 105 million. The facility provides for monthly payments of principal based on a 20-year amortization with a balloon payment due in March 2027. The rate is based on the one-month Secured Overnight Financing Rate (“SOFR”) plus a margin of 3.5 % and a floor of 4 5.2 . 103.84 million. This loan is collateralized by 21 properties owned by the Company. The new loan proceeds were used to repay the Series B Bonds and prepay commercial loans not secured by HUD guaranteed mortgages. The Company recognized a foreign currency loss of approximately $ 10.1 million in connection with the repayment of the Series B Bonds. The new credit facility financial covenants consist of (i) a covenant that the ratio of the Company’s indebtedness to its EBITDA cannot exceed 8.0 to 1, (ii) a covenant that the ratio of the Company’s net operating income to its debt service before dividend distribution is at least 1.20 to 1.00 for each fiscal quarter as measured pursuant to the terms of the loan agreement (iii) a covenant that the ratio of the Company’s net operating income to its debt service after dividend distribution is at least 1.05 to 1.00 for each fiscal quarter as measured pursuant to the terms of the loan agreement, and (iii) a covenant that the Company’s GAAP equity is at least $20,000,000. Senior Debt—Mortgage Loans Guaranteed by HUD As of June 30, 2022 and December 31, 2021, the Company had HUD guaranteed mortgage loans from financial institutions of $ 279 283 0.65 3.88 STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 7. Notes Payable and Other Debt (Cont.) Series A Bonds In November 2015, Strawberry Fields REIT, LTD, a wholly owned subsidiary of the Company (“BVI Company”) issued Series A Bonds in the face amount of NIS 265.2 68 251.2 64.3 103.6 70.0 18.6 70.8 18.8 105.9 39.0 10.7 40.9 11.3 6.4 7.4 The rate was increased to 6.65% in March 2017 due to the downgrade of the rating of the Series A Bonds by Standard & Poor’s from A to A-. The rate was further increased to 6.90% in August 2019 due to the downgrade of the rating of the BVI Company by Standard & Poor’s from ilA to ilA- and as a result the Series A Bond rating declined from ilA- to ilBBB+. On August 25, 2020, Standard & Poor’s upgraded the rating on Bond A from ilBBB+ to ilA-, however, interest rate was not decreased based on the terms of the debenture. On July 4, 2022, Standard & Poor’s upgraded the rating on Bond A from ilA- to ilA, and interest rate was decreased from 6.9 6.4 The principal amount of the Series A Bonds is payable in eight annual installments due on July 1 of each of the years 2017 through 2024. The first four principal payments were equal to 15 10 The Series A Bonds are not secured except for an interest reserve. The indenture for the Series A Bonds requires the BVI Company to maintain an interest reserve with the trustee equal to the next interest payment on the Series A Bonds. In addition, the BVI Company committed not to further encumber its assets under a general lien without obtaining the approval of the holders of the Series A Bonds, provided that the BVI Company may grant specific liens on its properties and also to provide guarantees; and its subsidiaries are entitled to register general and specific liens on their assets. The financial covenants of the BVI Company are measured based on its financial statements prepared in accordance with IFRS accounting principles. The annual rate of interest on the Series A Bonds will increase by 0.5 110 27 Additionally, the annual rate of interest on the Series A Bonds will increase by 0.25% if there is a decrease in the rating of the Series A Bonds, up to a maximum increase of 1.25% per year. In the event of the increase in the rate of interest on the Series A Bonds for the above reasons, the rate will be decreased if the underlying cause of the interests is eliminated, provided that the rate of interest will not be less than 6.4%. The BVI Company committed not to pledge its assets under general liens without obtaining the consent in advance of the debenture holders. Nevertheless, the BVI Company is entitled to register specific liens on its properties and also to provide guarantees; and its subsidiaries are entitled to register liens, including general and specific, on their assets. STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 7. Notes Payable and Other Debt (cont.) Series A Bonds (cont.) Bond Repurchases On March 19, 2020, the Board of Directors of the BVI Company approved a $ 5 10 March 28, 2023 Series C Bonds In July 2021, the BVI Company completed an initial offering on the Tel Aviv Stock Exchange (“TASE”) of Series C Bonds with a par value of NIS 208.0 64.7 1.7 Interest The Series C Bonds initially bore interest at a rate of 5.7 Interest on the Series C Bonds is payable semi-annually in arrears. The first interest payment was paid on January 31, 2022. The interest rate may increase if certain financial ratios are not achieved, as discussed below. Payment Terms The principal amount of the Series C Bonds is payable in five annual instalments due on July 31 of each of the years 2022 through 2026. The first four principal payments are equal to 6 Financial Covenants Until the date of full repayment of the Series C Bonds, the BVI Company must comply with certain financial covenants described below. The application of the covenants is based on the financial statements of the BVI Company as prepared under the IFRS accounting method. The financial covenant are as follows: ● The stockholders’ equity of the BVI Company may not be less than $ 230 ● The ratio of the consolidated stockholders’ equity of the BVI Company to its total consolidated balance sheet may not be less than 25 ● The ratio of the adjusted net financial debt to adjusted EBITDA of the BVI Company (for the past four quarters) may not exceed 12. ● The ratio of the outstanding amount of the Series C Bonds to the fair market value of the collateral may not exceed 75 STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 7. Notes Payable and Other Debt (cont.) Series C Bonds (cont.) Dividend Restrictions The indenture for the Series C Bonds limits the amount of dividends that may be paid by the BVI Company to its stockholders. The BVI Company may not make any distribution unless all of the following conditions are fulfilled (with all amounts calculated under IFRS): ● The distribution amount may not exceed 80 ● The ratio of the consolidated stockholders’ equity of the BVI Company to its total consolidated balance sheet may not be less than 30 ● The distributable profits for which no distribution was performed in a specific year will be added to the following quarters. ● The BVI Company’s equity at the end of the last quarter, before the distribution of dividends, less the dividends distributed, may not be less than $ 250 ● The BVI Company meets the financial conditions described above, and the Company is not in violation of all and/or any of its material undertakings to the holders of the Series C Bonds. Increase in Interest Rate In the event that: (i) the stockholders’ equity of BVI Company (excluding minority interests) is less than $ 250 (ii) the ratio of the adjusted net financial debt to adjusted EBITDA (for the latest four quarters) exceeds 11; (iii) the ratio of the consolidated equity of the BVI Company to total consolidated assets of the BVI Company is below 27 (iv) the ratio of outstanding amount of the Series C Bonds to the fair market value of the collateral for the Series B Bonds exceeds 75 then, in each case, the interest on the Series C Bonds will increase by an additional 0.5 Additionally, if a decline in the rating of the Series C Bonds should take place, then for each single ratings decrease, the interest will be increased by 0.25 1.25 In any case, the total increase in the interest rate as a result of the above adjustments will not exceed 1.5 STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 7. Notes Payable and Other Debt (cont.) Series C Bonds (cont.) Security The Series C Bonds are secured by first mortgage liens on eight properties. In addition, the Series C Bonds are also secured by interest and expenses reserves. The BVI Company has agreed not to pledge its assets pursuant to a general lien without obtaining the prior consent of the holders of the Series C Bonds, provided that the BVI Company is entitled to register specific liens on its properties and also to provide guarantees and its subsidiaries are entitled to register general and specific liens on their assets. Under the terms of the indenture for the Series C Bonds, the BVI Company can take out properties from the collateral (in case of HUD refinancing) or to add properties and increase the Series C Bonds as long as the ratio of outstanding amount of the Series C Bonds to fair market value of the collateral is not more than 65%. In addition, starting from July 1, 2023, if the fair market value of the collateral is below 55%, the BVI Company can request to release collateral so the fair market value will increase to 55% Additional Bonds The BVI Company can issue additional Series C Bonds at any time not to exceed to a maximum of NIS 630 180 Redemption Provisions The BVI Company may, at its discretion, call the Series C Bonds for early repayment. In the event of the redemption of all of the Series C Bonds, the BVI Company would be required to pay the highest of the following amounts: ● the market value of the balance of the Series C Bonds in circulation which will be determined based on the average closing price of the Series B Bonds for thirty (30) trading days before the date on which the board of directors resolves to undertake the early redemption; ● the par value of the Series C Bonds available for early redemption in circulation (i.e., the principal balance of the Series C Bonds plus accrued interest until the date of the actual early redemption); or ● the balance of the payments under the Series C Bonds (consisting of future payments of principal and interest), when discounted to their present value based on the annual yield of the Israeli government bonds plus an “additional rate.” The additional rate will be 1.0 2.5 3.0 Change of Control The holders of a majority of the Series C Bonds may accelerate the outstanding balance of the Bonds if the control of the BVI Company is transferred, directly or indirectly, unless the transfer of control is approved by the holders of a majority of the Series C Bonds. For purposes of the Series C Bonds, the “controlling stockholders” of the BVI Company are deemed to be Moishe Gubin and Michael Blisko. STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 7. Notes Payable and Other Debt (cont.) Change of Control (Cont.) For the purpose of this provision, a transfer of control means a change of control of the BVI Company such that the BVI Company has a controlling stockholder that is not any of the “controlling stockholders” and/or is in the hands of any of their immediate family members (including through trusts that the controlling stockholders and/or any of their immediate family members are the beneficiaries under and/or are their managers). In this regard, “control” is defined in the Israeli Companies Law. Other Debt As of June 30, 2022 and December 31, 2021, the Company had $ 1.4

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 8. Commitments and Contingencies Commitments The Company guarantees from time-to-time obligations of its wholly owned subsidiaries. Contingencies The Company’s operating results and financial condition are dependent on the ability of its tenants to meet their lease obligations to us. Although the amount of rent that the Company receives from its tenants is not dependent on the tenants’ operating results, the tenants’ ability to fulfill their lease obligations, including the payment of rent, could be adversely affected if our tenants encountered significant financial difficulties due to a pandemic. To date, the Company does not believe that the recent coronavirus outbreak has had a material adverse impact on its tenants. In March 2020, Joseph Schwartz, Rosie Schwartz and certain companies owned by them filed a complaint in the U.S. District Court for the Northern District of Illinois against Moishe Gubin, Michael Blisko, the Predecessor Company and 21 of its subsidiaries, as well as the operators of 17 of the facilities operated at our properties. The complaint was related to the Predecessor Company’s acquisition of 16 properties located in Arkansas and Kentucky that were completed between May 2018 and April 2019 and the attempt to purchase additional 5 properties located in Massachusetts. The complaint was dismissed by the court in 2020 for lack of subject matter jurisdiction. The plaintiffs did not file an appeal with respect to this action, and the time for an appeal has expired. In August 2020, Joseph Schwartz, Rosie Schwartz and several companies controlled by them filed a second complaint in the Circuit Court in Pulaski County, Arkansas. The second complaint had nearly identical claims as the federal case, but was limited to matters related to the Predecessor Company’s acquisition of properties located in Arkansas. The sellers, which were affiliates of Skyline Health Care, had encountered financial difficulties and requested the Predecessor Company to acquire these properties. The defendants have filed an answer denying the plaintiffs’ claims and asserting counterclaims based on breach of contract. The parties are currently engaged in discovery. In January 2021, Joseph Schwartz, Rosie Schwartz and certain companies owned by them filed a third complaint in Illinois state court in Cook County, Illinois, which has nearly identical claims to the initial federal case, but was limited to claims related to the Kentucky and Massachusetts properties. The complaint has not been properly served on any of the defendants, and, accordingly, the defendants have not responded to the complaint. STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 8. Commitments and Contingencies (Cont.) In each of these complaints, the plaintiffs asserted claims for fraud, breach of contract and rescission arising out of the defendants alleged failure to perform certain post-closing obligations under the purchase contracts. We have potential direct exposure for these claims because the subsidiaries of the Predecessor Company that were named as defendants are now subsidiaries of the Operating Partnership. Additionally, the Operating Partnership is potentially liable for the claims made against Moishe Gubin, Michael Blisko and the Predecessor Company pursuant to the provisions of the contribution agreement, under which the Operating Partnership assumed all of the liabilities of the Predecessor Company and agreed to indemnify the Predecessor Company and its affiliates for such liabilities. We and the named defendants believe that the claims set forth in the complaints are without merit. The named defendants intend to vigorously defend the litigation and to assert counterclaims against the plaintiffs based on their failure to fulfill their obligations under the purchase contracts, interim management agreement, and operations transfer agreements. We believe this matter will be resolved without a material adverse effect to the Company. As noted above, the March 2020 and January 2021 complaints also related to the Predecessor Company’s planned acquisition of five properties located in Massachusetts. Certain subsidiaries of the Predecessor Company purchased loans related to these properties in 2018 for a price of $ 7.74 3.1 7.5 7

Equity Incentive Plan

Equity Incentive Plan	6 Months Ended
	Jun. 30, 2022
Equity Incentive Plan
Equity Incentive Plan	Note 9. Equity Incentive Plan The Company has adopted the 2021 Equity Incentive Plan (the “Plan”). The Plan permits the grant of both options qualifying under Section 422 of the Internal Revenue Code (“incentive stock options”) and options not so qualifying, and the grant of stock appreciation rights, stock awards, incentive awards, performance units, and other equity-based awards. A total of 250,000 225,100 No 19,320 190,000 STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Stockholders_ Equity and Distri

Stockholders’ Equity and Distributions	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Stockholders’ Equity and Distributions	NOTE 10. Stockholders’ Equity and Distributions The Company intends to elect and qualify to be treated as a REIT commencing with the taxable year ending December 31, 2022. U.S. federal income tax law requires that a REIT distribute annually at least 90% of its net taxable income, excluding net capital gains, and that it pays tax at regular corporate rates to the extent that it annually distributes less than 100% of its net taxable income, including net capital gains. In addition, a REIT is required to pay a 4% nondeductible excise tax on the amount, if any, by which the distributions that it makes in a calendar year are less than the sum of 85% of its ordinary income, 95% of its capital gain net income and 100% of its undistributed income from prior years. As of June 30, 2022, there were a total of 6,044,230 1,056,507 At June 30, 2022 there were 47,212,167 In addition, the Company has reserved a total of (a) 250,000 of which 225,100 47,212,167 Prior to the formation transactions, the Predecessor Company’s outstanding equity consisted of 10,570 475 4,500 STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Related Party Transactions and

Related Party Transactions and Economic Dependence	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions and Economic Dependence	NOTE 11. Related Party Transactions and Economic Dependence The following entities and individuals are considered to be Related Parties: Moishe Gubin Chairman of the Board and a stockholder of the Company Michael Blisko Director and a stockholder of the Company Ted Lerman Director of the Predecessor Company and a stockholder of the Company Nahman Eingal Chief Financial Officer and a stockholder of the Company Operating entities See list below Steven Blisko * Owner of certain tenants and a brother of Michael Blisko As of July 1, 2022, the leases with tenants owned by Steven Blisko had been cancelled. Lease Agreements with Related Parties As of June 30, 2022 and December 31, 2021, each of the Company’s facilities except for two were leased and operated by separate tenants. Each tenant is a special purpose entity that, directly or indirectly, leases the facility from one of the Company’s subsidiaries and it is operated as a healthcare facility. The Company had 47 tenants out of 79 who were related parties as of June 30, 2022 and December 31, 2021. Most of the lease agreements are triple net leases. On April 4, 2022, an affiliated tenant in Illinois notified the Company of its intent to default with respect to two master lease agreements. Each lease includes three nursing home facilities with a combined rent of $ 225,000 2.7 1,075,000 10 180,000 2.3 In April 2021, tenants for 13 of our properties located in Arkansas agreed to assign their leases to a group of unaffiliated third parties. The prior tenants were related parties of the Company. The facilities located on these properties consist of 12 SNFs and 2 ALFs, with one property housing both a SNF and an ALF. There were no changes to the terms of the existing leases. The assignment of the leases was subject to the approval of the State of Arkansas, which was received in December 2021. In connection with the lease assignments, the Company granted the new tenants an option to purchase the properties for an aggregate price of $ 90 STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 11. Related Party Transactions and Economic Dependence (cont.) Lease Agreements with Related Parties (cont.) The following table sets forth details of the lease agreements in force between the Company and its subsidiaries and lessees that are related parties: Schedule of Related Party Transactions Related Party Ownership in State Lessor/ Tenant/Operator Moishe Gubin/Gubin Enterprises LP Michael Blisko/Blisko Enterprises LP Ted Lerman/A&F Realty LLC Average annual rent over life of lease Annual Escalation % of total rent Lease maturity Extension options Master Lease Indiana IN 1020 West Vine Street Realty, LLC The Waters of Princeton II, LLC 39.10 % 40.14 % 20.20 % $ 1,045,506 3.00 % 1.45 % 8/1/2025 2 five year IN 12803 Lenover Street Realty LLC The Waters of Dillsboro – Ross Manor II LLC 39.10 % 40.14 % 20.20 % 1,353,655 3.00 % 1.87 % 8/1/2025 2 five year IN 1350 North Todd Drive Realty, LLC The Waters of Scottsburg II LLC 39.10 % 40.14 % 20.20 % 1,089,527 3.00 % 1.51 % 8/1/2025 2 five year IN 1600 East Liberty Street Realty LLC The Waters of Covington II LLC 39.10 % 40.14 % 20.20 % 1,309,634 3.00 % 1.81 % 8/1/2025 2 five year IN 1601 Hospital Drive Realty LLC The Waters of Greencastle II LLC 39.10 % 40.14 % 20.20 % 1,100,532 3.00 % 1.52 % 8/1/2025 2 five year IN 1712 Leland Drive Realty, LLC The Waters of Huntingburg II LLC 39.10 % 40.14 % 20.20 % 1,045,506 3.00 % 1.45 % 8/1/2025 2 five year IN 2055 Heritage Drive Realty LLC The Waters of Martinsville II LLC 39.10 % 40.14 % 20.20 % 1,133,548 3.00 % 1.57 % 8/1/2025 2 five year IN 3895 South Keystone Avenue Realty LLC The Waters of Indianapolis II LLC 39.10 % 40.14 % 20.20 % 891,431 3.00 % 1.23 % 8/1/2025 2 five year IN 405 Rio Vista Lane Realty LLC The Waters of Rising Sun II LLC 39.10 % 40.14 % 20.20 % 638,309 3.00 % 0.88 % 8/1/2025 2 five year IN 950 Cross Avenue Realty LLC The Waters of Clifty Falls II LLC 39.10 % 40.14 % 20.20 % 1,518,735 3.00 % 2.10 % 8/1/2025 2 five year IN 958 East Highway 46 Realty LLC The Waters of Batesville II LLC 39.10 % 40.14 % 20.20 % 946,458 3.00 % 1.31 % 8/1/2025 2 five year IN 2400 Chateau Drive Realty, LLC The Waters of Muncie II LLC 39.10 % 40.14 % 20.20 % 792,383 3.00 % 1.10 % 8/1/2025 2 five year IN The Big H2O LLC The Waters of New Castle II LLC 39.10 % 40.14 % 20.20 % 726,351 3.00 % 1.00 % 8/1/2025 2 five year STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 11. Related Party Transactions and Economic Dependence (cont.) Lease Agreements with Related Parties (cont.) State Lessor/ Tenant/Operator Moishe Gubin/Gubin Enterprises LP Michael Blisko/Blisko Enterprises LP Ted Lerman/A&F Realty LLC Average annual rent over life of lease Annual Escalation % of total rent Lease maturity Extension options Master Lease Tennessee TN 115 Woodlawn Drive, LLC Lakebridge, a Waters Community, LLC 40.00 % 40.00 % 20.00 % 1,514,820 3.00 % 1.81 % 8/1/2031 2 five year TN 146 Buck Creek Road, LLC The Waters of Roan Highlands, LLC 40.00 % 40.00 % 20.00 % 1,111,794 3.00 % 1.33 % 8/1/2031 2 five year TN 704 5 th The Waters of Springfield, LLC 40.00 % 40.00 % 20.00 % 917,230 3.00 % 1.09 % 8/1/2031 2 five year TN 2501 River Road, LLC The Waters of Cheatham, LLC 40.00 % 40.00 % 20.00 % 1,111,794 3.00 % 1.33 % 8/1/2031 2 five year TN 202 Enon Springs Road East, LLC The Waters of Smyrna, LLC 40.00 % 40.00 % 20.00 % 1,264,666 3.00 % 1.51 % 8/1/2031 2 five year TN 140 Technology Lane, LLC The Waters of Johnson City, LLC 40.00 % 40.00 % 20.00 % 1,167,384 3.00 % 1.39 % 8/1/2031 2 five year TN 835 Union Street, LLC The Waters of Shelbyville, LLC 40.00 % 40.00 % 20.00 % 1,334,153 3.00 % 1.59 % 8/1/2031 2 five year STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 11. Related Party Transactions and Economic Dependence (cont.) Lease Agreements with Related Parties (cont.) State Lessor/ Tenant/Operator Moishe Gubin/Gubin Enterprises LP Michael Blisko/Blisko Enterprises LP Ted Lerman/A&F Realty LLC Average annual rent over life of lease Annual Escalation % of total rent Lease maturity Extension options Master Lease Tennessee 2 TN 505 North Roan, LLC Agape Rehabilitation & Nursing Center, A Water’s Community LLC 40.00 % 40.00 % 20.00 % 1,628,910 3.00 % 1.97 % 7/1/2031 2 five year TN 14510 Highway 79, LLC Waters of McKenzie, A Rehabilitation & Nursing Center, LLC 40.00 % 40.00 % 20.00 % 1,279,858 3.00 % 1.55 % 7/1/2031 2 five year TN 6500 Kirby Gate Boulevard, LLC Waters of Memphis, A Rehabilitation & Nursing Center, LLC 40.00 % 40.00 % 20.00 % 1,745,261 3.00 % 2.11 % 7/1/2031 2 five year TN 978 Highway 11 South, LLC Waters of Sweetwater, A Rehabilitation & Nursing Center, LLC 40.00 % 40.00 % 20.00 % 1,745,261 3.00 % 2.11 % 7/1/2031 2 five year TN 2830 Highway 394, LLC Waters of Bristol, A Rehabilitiation & Nursing Center, LLC 40.00 % 40.00 % 20.00 % 2,327,014 3.00 % 2.81 % 7/1/2031 2 five year STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 11. Related Party Transactions and Economic Dependence (cont.) Lease Agreements with Related Parties (cont.) Related Party Ownership in State Lessor/ Tenant/ Operator Moishe Gubin/Gubin Enterprises LP Michael Blisko/Blisko Enterprises LP Ted Lerman/A&F Realty LLC Average Annual rent over life of lease Annual Escalation % of total rent Lease maturity Extension options IL 516 West Frech Street, LLC Parker Nursing & Rehabilitation Center, LLC 50.00 % 50.00 % 0.00 % $ 498,350 Varies between $12,000 and $24,000 annually 0.69 % 3/31/2031 None IN 1316 North Tibbs Avenue Realty, LLC Westpark, a Waters Community, LLC 40.00 % 40.00 % 20.00 % 549,884 3.00 % 0.76 % 6/1/2024 2 five year IL Ambassador Nursing Realty, LLC Ambassador Nursing and Rehabilitation Center II, LLC 37.50 % 37.50 % 5.00 % 1,005,313 3.00 % 1.39 % 2/28/2026 2 five year IL Momence Meadows Realty, LLC Momence Meadows Nursing & Rehabilitation Center, LLC 50.00 % 50.00 % 0.00 % 1,038,000 None 1.44 % 12/30/2025 None IL Oak Lawn Nursing Realty, LLC Oak Lawn Respiratory and Rehabilitation Center, LLC 50.00 % 50.00 % 0.00 % 1,083,048 None 1.50 % 6/1/2031 None IL Forest View Nursing Realty, LLC Forest View Rehabilitation and Nursing Center, LLC 50.00 % 50.00 % 0.00 % 1,215,483 3.00 % 1.68 % 12/1/2024 2 five year IL Lincoln Park Holdings, LLC Lakeview Rehabilitation and Nursing Center, LLC 40.00 % 40.00 % 0.00 % 1,260,000 None 1.74 % 5/31/2031 None IL Continental Nursing Realty, LLC Continental Nursing and Rehabilitation Center, LLC 37.50 % 37.50 % 5.00 % 1,575,348 None 2.18 % 3/1/2031 None IL Westshire Nursing Realty, LLC City View Multicare Center, LLC 50.00 % 50.00 % 0.00 % 1,788,365 3.00 % 2.47 % 9/1/2025 2 five year IL Belhaven Realty, LLC Belhaven Nursing and Rehabilitation Center, LLC 35.00 % 35.00 % 24.99 % 2,134,570 3.00 % 2.95 % 2/28/2026 2 five year IL West Suburban Nursing Realty, LLC West Suburban Nursing & Rehabilitation Center, LLC 37.50 % 37.50 % 5.00 % 1,961,604 None 2.71 % 11/1/2027 None STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 11. Related Party Transactions and Economic Dependence (cont.) Lease Agreements with Related Parties (cont.) Related Party Ownership in State Lessor/ Tenant/ Operator Moishe Gubin/Gubin Enterprises LP Michael Blisko/Blisko Enterprises LP Ted Lerman/A&F Realty LLC Average Annual rent over life of lease Annual Escalation % of total rent Lease maturity Extension options IN 1585 Perry Worth Road, LLC The Waters of Lebanon, LLC 40.00 % 40.00 % 20.00 % $ 116,676 3.00 % 0.16 % 6/1/2027 2 five year IL Niles Nursing Realty LLC Niles Nursing & Rehabilitation Center LLC 40.00 % 40.00 % 20.00 % 2,409,998 3.00 % 3.33 % 2/28/2026 2 five year IL Parkshore Estates Nursing Realty, LLC Parkshore Estates Nursing and Rehabilitation Center, LLC 30.00 % 30.00 % 20.00 % 2,454,187 3.00 % 3.39 % 12/1/2024 2 five year IL Midway Neurological and Rehabilitation Realty, LLC Midway Neurological and Rehabilitation Center, LLC 33.39 % 33.39 % 23.97 % 2,547,712 3.00 % 3.52 % 2/28/2026 2 five year IL 4343 Kennedy Drive, LLC Hope Creek Nursing and Rehabilitation Center, LLC 27.50 % 27.50 % 0.00 % 478,958 3.00 % 0.58 % 10/1/2030 2 five year STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 11. Related Party Transactions and Economic Dependence (cont.) Lease Agreements with Related Parties (cont.) Affiliate Ownership in Operator State Lessor/ Tenant Moishe Gubin / Gubin Enterprises LP Michael Blisko / Blisko Enterprises LP Ted Lerman / A&F Realty LLC Steven Blisko Average Annual rent over life of lease Annual Escalation % of total rent Lease maturity Extension options Master Lease Central Illinois 1 IL 253 Bradington Drive, LLC Columbia Rehabilitation and Nursing Center LLC 0.00 % 0.00 % 40.00 % 60.00 % $ 399,076 3.0 % 0.55 % 4/1/2031 4 five year IL 3523 Wickenhauser, LLC Alton Rehabilitation and Nursing Center LLC 0.00 % 0.00 % 40.00 % 60.00 % 606,998 3.0 % 0.84 % 4/1/2031 4 five year IL 727 North 17 th Belleville Rehabilitation and Nursing Center LLC 0.00 % 0.00 % 40.00 % 60.00 % 603,644 3.0 % 0.83 % 4/1/2031 4 five year Master Lease Central Illinois 2L IL 107 South Lincoln Street, LLC Park Haven Nursing & Rehabilitation Center, LLC 0.00 % 0.00 % 40.00 % 60.00 % 390,846 1.00 % 0.54 % 6/1/2034 1 ten year IL 1623 West Delmar Avenue, LLC Godfrey Healthcare & Rehabilitation Center, LLC 0.00 % 0.00 % 40.00 % 60.00 % 263,144 1.00 % 0.36 % 6/1/2034 1 ten year IL 393 Edwardsville Road, LLC Wood River Healthcare & Rehabilitation Center, LLC 0.00 % 0.00 % 40.00 % 60.00 % 410,194 1.00 % 0.56 % 6/1/2034 1 ten year (1) The interests of the three listed related parties are not held through any commonly owned holding companies. Mr. Gubin’s interests are held directly/indirectly by Gubin Enterprises LP. Mr. Blisko’s interests are held by Blisko Enterprises LP and New York Boys Management, LLC. The interests held by Ted Lerman/A&F Realty are held directly by them. (2) Each of the tenants is a limited liability company. The percentages listed reflect the owners’ percentage ownership of the outstanding membership interests in each tenant. Each tenant is managed by two or three managers, which currently consist of Mr. Gubin, Mr. Blisko and in some cases Mr. Lerman or A&F Realty. Decisions are made by majority vote of the managers, except (in some cases) for certain major items that require the vote of a majority or greater percentage of the members. STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 11. Related Party Transactions and Economic Dependence (cont.) Guarantees from Related Parties As of June 30, 2022 Mr. Gubin and Mr. Blisko were not parties to any guarantees of any debt of the Company and its subsidiaries. As of December 31, 2021, Mr. Gubin and Mr. Blisko guaranteed $ 21.9 Balances with Related Parties Schedule of Balances with Related Parties June 30, December 31, 2022 2021 (amounts in $000s) Straight-line rent receivable $ 14,691 $ 15,261 Tenant portion of replacement reserve $ 9,552 $ 10,331 Payments from and to Related Parties Schedule of Payments from and to Related Parties Six Months ended June 30, Three Months ended June 30, 2022 2021 2022 2021 (amounts in $000s) (amounts in $000s) Rental income received from related parties $ 27,171 28,405 $ 13,599 14,013 Other Related Party Relationships On June 30, 2022 and December 31, 2021, the Company and the Predecessor Company had approximately $ 5.1 17.5 STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 12. Income Taxes The Company intends to elect and qualify to be taxed as a REIT for federal income tax purposes commencing with the year ending December 31, 2022. The Company qualification as a REIT will depend upon its ability to meet, on a continuing basis, through actual investment and operating results, various complex requirements under the Code relating to, among other things, the sources of the Company’s gross income, the composition and values of the Company’s assets, the Company’s distribution levels and the diversity of ownership of the Company’s capital stock. The Company believes that it will be organized in conformity with the requirements for qualification as a REIT under the Code and that its intended manner of operation will enable the Company to meet the requirements for qualification and taxation as a REIT for federal income tax purposes commencing with the Company’s taxable year ending December 31, 2022. As a REIT, the Company generally will not be subject to federal income tax on its net taxable income that it distributes currently to its stockholders. Under the Code, REITs are subject to numerous organizational and operational requirements, including a requirement that they distribute each year at least 90% of their REIT taxable income, determined without regard to the deduction for dividends paid and excluding any net capital gains. If the Company fails to qualify for taxation as a REIT in any taxable year and does not qualify for certain statutory relief provisions, the Company’s income for that year will be taxed at regular corporate rates, and the Company would be disqualified from taxation as a REIT for the four taxable years following the year during which the Company ceased to qualify as a REIT. Even if the Company qualifies as a REIT for federal income tax purposes, it may still be subject to state and local taxes on its income and assets and to federal income and excise taxes on its undistributed income. For the period prior to qualifying as a REIT, the Company is taxed at regular corporate rates for Federal and State income taxes. The members of the Predecessor Company elected to be taxed as a partnership for federal and state income tax purposes. For federal and state income tax purposes, all items of income and expenses flowed through to its members based on their respective ownership percentages, therefore no provision or liability for income taxes is reflected in the Predecessor Company’s consolidated financial statements. The Company and the Predecessor Company followed recent accounting guidance relating to accounting for uncertainty in income taxes, which sets out a consistent framework to determine the appropriate level of tax reserves to maintain for uncertain tax positions. A tax position that meets the more-likely-than-not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than fifty percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more-than-likely-than-not recognition threshold considers the facts, circumstances, and information available at the reporting date and is subject to management’s judgment. The Predecessor Company’s status as a partnership is defined as a tax position under this accounting guidance. As of the date of the formation transactions, management was not aware of any uncertain tax positions that would have material effect on the Company’s consolidated financial statements. STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	NOTE 13. Fair Value of Financial Instruments There were no The Company and the Predecessor Company are required to disclose the fair value of financials instruments for which it is practicable to estimate that value. The fair value of short-term financial instruments such as cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued expenses approximate their carrying value on the consolidated balance sheets due to their short-term nature. The fair values of the Company’s remaining financial instruments that are not reported at fair value on the consolidated balance sheets are reported below: Schedule of Fair Value on the Consolidated Balance Sheets June 30, 2022 December 31, 2021 (amounts in $000s) Level Carrying Amount Fair Value Carrying Amount Fair Value Senior debt and bonds 3 $ 475,274 471,327 $ 501,800 508,297 Notes receivable 3 $ 17,444 17,444 $ 9,831 9,831 The fair value of the senior debt, bonds and notes receivable are estimated using a discounted cash flow analysis.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	NOTE 14. Subsequent Events Management has evaluated events occurring subsequent to the consolidated balance sheet date through September 6, 2022, which is the date the consolidated financial statements were available to be issued, determining no events require additional disclosure in these consolidated financial statements. Management expects the Company to become publicly traded during the third quarter of 2022, but as of the issuance date, the Company is not a public entity.

Financing Income (Expenses), Ne

Financing Income (Expenses), Net	6 Months Ended
	Jun. 30, 2022
Other Income and Expenses [Abstract]
Financing Income (Expenses), Net	NOTE 15. Financing Income (Expenses), Net Schedule of Financing Income (Expenses), Net Six months ended June 30, Three months ended June 30 2022 2021 2022 2021 (amounts in $000s) (amounts in $000s) Financing expenses Interest expenses with respect to bonds $ (3,665 ) $ (4,359 ) $ (1,495 ) $ (2,241 ) Interest expenses on loans from banks and others (5,374 ) (5,529 ) (3,593 ) (2,792 ) Interest expenses with respect to leases (41 ) (50 ) (20 ) (26 ) Other financing expenses (including related parties), net (59 ) (238 ) 610 (210 ) Total financing expenses $ (9,139 ) $ (10,176 ) $ (4,498 ) (5,269 ) Financing income $ 100 $ 170 $ (52 ) 122 Interest Expense, Net $ (9,039 ) $ (10,006 ) $ (4,550 ) (5,147 )

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates Management is required to make estimates and assumptions in the preparation of the consolidated financial statements in conformity with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results may differ from management’s estimates.
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and the Predecessor Company, the Operating Partnership and its wholly-owned subsidiaries. Intercompany transactions and balances have been eliminated upon consolidation. STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 2. Summary of Significant Accounting Policies (cont.)
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand and short-term investments with original maturities of three months or less when purchased. The Company’s cash, cash equivalents and restricted cash and cash equivalents periodically exceed federally insurable limits. The Company monitors the cash balances in its operating accounts and adjusts the cash balances as appropriate; however, these cash balances could be impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, the Company has experienced no loss or lack of access to the cash in its operating accounts. On June 30, 2022 and December 31, 2021, the Company had $ 22,868,000 36,359,000
Restricted Cash and Cash Equivalents	Restricted Cash and Cash Equivalents Restricted cash primarily consists of amounts held by mortgage lenders to provide for real estate tax expenditures, tenant improvements, capital expenditures and security deposits, as well as escrow accounts related to principal and interest payments on Bonds
Real Estate Depreciation	Real Estate Depreciation Real estate costs related to the acquisition and improvement of properties are capitalized and depreciated over the expected life of the asset on a straight-line basis. Repair and maintenance costs are charged to expense as incurred and significant replacements and betterments are capitalized. Repair and maintenance costs include all costs that do not extend the useful life of the real estate asset. The Company considers the period of future benefit of an asset to determine its appropriate useful life. Expenditures for tenant improvements are capitalized and amortized over the shorter of the tenant’s lease term or expected useful life. The Company anticipates the estimated useful lives of its assets by class to be generally as follows: Building and improvements 7 53 Equipment and personal property 1 14 STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 2. Summary of Significant Accounting Policies (cont.)
Real Estate Valuation	Real Estate Valuation The Company makes estimates as part of its allocation of the purchase price of acquisitions to the various components of the acquisition based upon the fair value of each component. In determining fair value, current appraisals or other third-party valuations are used. The most significant components of these allocations are typically the allocation of fair value to land and buildings and, for certain of its acquisitions, in place leases and other intangible assets. In the case of the fair value of buildings and the allocation of value to land and other intangibles, the estimates of the values of these components will affect the amount of depreciation and amortization we record over the estimated useful life of the property acquired or the remaining lease term. In the case of the value of in place leases, the Company makes best estimates based on the evaluation of the specific characteristics of each tenant’s lease. Factors considered include estimates of carrying costs during hypothetical expected lease up periods, market conditions and costs to execute similar leases. These assumptions affect the amount of future revenue that the Company will recognize over the remaining lease term for the acquired in place leases. The Company evaluates each purchase transaction to determine whether the acquired assets meet the definition of a business. Transaction costs related to acquisitions that are not deemed to be businesses are included in the cost basis of the acquired assets, while transaction costs related to acquisitions that are deemed to be businesses are expensed as incurred.
Revenue Recognition	Revenue Recognition Rental income from operating leases is generally recognized on a straight-line basis over the terms of the leases. Substantially all of the Company’s leases contain provisions for specified annual increases over the rents of the prior year and are generally computed in one of three methods depending on specific provisions of each lease as follows: (i) a specified annual increase over the prior year’s rent, generally between 1.0 3.0 (ii) a calculation based on the Consumer Price Index; or (iii) specific dollar increases. Contingent revenue is not recognized until all possible contingencies have been eliminated. The Company considers the operating history of the lessee and the general condition of the industry when evaluating whether all possible contingencies have been eliminated and have historically, and expect in the future, to not include contingent rents as income until received. The Company follows a policy related to rental income whereby a lease is considered to be non-performing after 60 days of non-payment of past due amounts and do not recognize unpaid rental income from that lease until the amounts have been received. Rental revenues relating to non-contingent leases that contain specified rental increases over the life of the lease are recognized on the straight-line basis. Recognizing income on a straight-line basis requires us to calculate the total non-contingent rent containing specified rental increases over the life of the lease and to recognize the revenue evenly over that life. This method results in rental income in the early years of a lease being higher than actual cash received, creating a straight-line rent receivable asset included in our accompanying consolidated balance sheets. At some point during the lease, depending on its terms, the cash rent payments eventually exceed the straight-line rent which results in the straight-line rent receivable asset decreasing to zero over the remainder of the lease term. The Company assesses the collectability of straight-line rent in accordance with the applicable accounting standards and our reserve policy. If the lessee becomes delinquent in rent owed under the terms of the lease, we may provide a reserve against the recognized straight-line rent receivable asset for a portion, up to its full value, that we estimate may not be recoverable. STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 2. Summary of Significant Accounting Policies (Cont.) Revenue Recognition (Cont.) Capitalized above-market lease values are amortized as a reduction of rental income over the remaining terms of the respective leases. Capitalized below-market leases are accreted to rental income over the remaining terms of the respective leases and expected below-market renewal option periods. The Company reports revenues and expenses within our triple-net leased properties for real estate taxes that are escrowed and obligations of the tenants in accordance with their respective lease with us. Gain from sale of real estate investments is recognized when control of the property is transferred and it is probable that substantially all consideration will be collected.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts The Company evaluates the liquidity and creditworthiness of its tenants, operators and borrowers on a monthly and quarterly basis. The Company’s evaluation considers industry and economic conditions, individual and portfolio property performance, credit enhancements, liquidity and other factors. The Company’s tenants, borrowers and operators furnish property, portfolio and guarantor/operator-level financial statements, among other information, on a monthly or quarterly basis; the Company utilizes this financial information to calculate the lease or debt service coverages that it uses as a primary credit quality indicator. Lease and debt service coverage information is evaluated together with other property, portfolio and operator performance information, including revenue, expense, net operating income, occupancy, rental rate, reimbursement trends, capital expenditures and EBITDA (defined as earnings before interest, tax, and depreciation and amortization), along with other liquidity measures. The Company evaluates, on a monthly basis or immediately upon a significant change in circumstance, its tenants’, operators’ and borrowers’ ability to service their obligations with the Company. The Company maintains an allowance for doubtful accounts for straight-line rent receivables resulting from tenants’ inability to make contractual rent and tenant recovery payments or lease defaults. For straight-line rent receivables, the Company’s assessment is based on amounts estimated to be recoverable over the lease term.
Impairment of Long-Lived Assets and Goodwill	Impairment of Long-Lived Assets and Goodwill The Company assesses the carrying value of real estate assets and related intangibles (“real estate assets”) when events or changes in circumstances indicate that the carrying value may not be recoverable. The Company tests its real estate assets for impairment by comparing the sum of the expected future undiscounted cash flows to the carrying value of the real estate assets. The expected future undiscounted cash flows are calculated utilizing the lowest level of identifiable cash flows that are largely independent of the cash flows of other assets and liabilities. If the carrying value exceeds the expected future undiscounted cash flows, an impairment loss will be recognized to the extent that the carrying value of the real estate assets is greater than their fair value. Goodwill is tested for impairment at least annually based on certain qualitative factors to determine if it is more likely than not that the fair value of a reporting unit is less than its’ carrying value. Potential impairment indicators include a significant decline in real estate values, significant restructuring plans, current macroeconomic conditions, state of the equity and capital markets or a significant decline in the Company’s market capitalization. If the Company determines that it is more likely than not that the fair value of a reporting unit is less than its’ carrying value, the Company applies the required two-step quantitative approach. The quantitative procedures of the two-step approach (i) compare the fair value of a reporting unit with its carrying value, including goodwill, and, if necessary, (ii) compare the implied fair value of reporting unit goodwill with the carrying value as if it had been acquired in a business combination at the date of the impairment test. The excess fair value of the reporting unit over the fair value of assets and liabilities, excluding goodwill, is the implied value of goodwill and is used to determine the impairment amount, if any. The Company has selected the fourth quarter of each fiscal year to perform its annual impairment test. STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 2. Summary of Significant Accounting Policies (Cont.)
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments which potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash and cash equivalents, notes receivable and operating leases on owned properties. The Company’s financial instruments, notes receivable and operating leases, are subject to the possibility of loss of carrying value as a result of the failure of other parties to perform according to their contractual obligations or changes in market prices which may make the instrument less valuable. Cash and cash equivalents, restricted cash and equivalents are held with various financial institutions. From time to time, these balances exceed the federally insured limits. These balances are maintained with high quality financial institutions which management believes limits the risk. With respect to notes receivable, the Company obtains various collateral and other protective rights, and continually monitor these rights, in order to reduce such possibilities of loss. In addition, the Company provides reserves for potential losses based upon management’s periodic review of our portfolio. At June 30, 2022 , the Company held three notes receivable for $ 17.4 9.8
Market Concentration Risk	Market Concentration Risk As of June 30, 2022 and December 31, 2021, the Company owned 78 properties and leases 1 property in 9 states, with 21 properties or 26.6% of its total properties located in Illinois (which include 4,327 skilled nursing beds or 41.50% of the Company’s total beds) and 15 properties or 19.0% of its total properties in Indiana (which include 1,388 skilled nursing beds or 13.3% of the Company’s total beds). Since tenant revenue is primarily generated from Medicare and Medicaid, the operations of the Company are indirectly subject to the administrative directives, rules and regulations of federal and state regulatory agencies, including, but not limited to, Centers for Medicare and Medicaid Services, and the Department of Health and Aging in all states in which the Company operates. Such administrative directives, rules and regulations, including budgetary reimbursement funding, are subject to change by an act of Congress, the passage of laws by the state regulators or an administrative change mandated by one of the executive branch agencies. Such changes may occur with little notice or inadequate funding to pay for the related costs, including the additional administrative burden, to comply with a change.
Debt and Capital Raising Issuance Costs	Debt and Capital Raising Issuance Costs Costs incurred in connection with the issuance of equity interests are recorded as a reduction of additional paid-in capital. Debt issuance costs related to debt instruments, excluding line of credit arrangements, are deferred, recorded as a reduction of the related debt liability, and amortized to interest expense over the remaining term of the related debt liability utilizing the interest method. Deferred financing costs related to line of credit arrangements are deferred, recorded as an asset and amortized to interest expense over the remaining term of the related line of credit arrangement utilizing the interest method. Penalties incurred to extinguish debt and any remaining unamortized debt issuance costs, discounts and premiums are recognized as income or expense in the consolidated statements of income at the time of extinguishment.
Segment Reporting	Segment Reporting Accounting guidance regarding disclosures about segments of an enterprise and related information establishes standards for the manner in which public business enterprises report information about operating segments. The Company’s investment decisions in health care properties, and resulting investments are managed as a single operating segment for internal reporting and for internal decision-making purposes. Therefore, the Company has concluded that it operates as a single segment. STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 2. Summary of Significant Accounting Policies (Cont.)
Basic and Diluted Income Per Common Share	Basic and Diluted Income Per Common Share The Company calculates basic income per common share by dividing net income attributable to common stockholders by the weighted average number of common shares outstanding during the period. At June 30, 2022, there were 47,212,167
Foreign Currency Translation and Transactions	Foreign Currency Translation and Transactions Assets and liabilities denominated in foreign currencies that are translated into U.S. dollars use exchange rates in effect at the end of the period, and revenues and expenses denominated in foreign currencies that are translated into U.S. dollars use average rates of exchange in effect during the related period. Gains or losses resulting from translation are included in accumulated other comprehensive income, a component of equity on the consolidated balance sheets. Gains or losses resulting from foreign currency transactions are translated into U.S. dollars at the rates of exchange prevailing at the dates of the transactions. The effects of transaction gains or losses, if any, are included in other (loss) income, in the consolidated statements of income.
Fair Value Measurement	Fair Value Measurement The Company measures and discloses the fair value of nonfinancial and financial assets and liabilities utilizing a hierarchy of valuation techniques based on whether the inputs to a fair value measurement are considered to be observable or unobservable in a marketplace. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. This hierarchy requires the use of observable market data when available. These inputs have created the following fair value hierarchy: ● Level 1—quoted prices for identical instruments in active markets; ● Level 2—quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and ● Level 3—fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company measures fair value using a set of standardized procedures that are outlined herein for all assets and liabilities which are required to be measured at fair value. When available, the Company utilizes quoted market prices from an independent third-party source to determine fair value and classifies such items in Level 1. In instances where a market price is available, but the instrument is in an inactive or over-the-counter market, the Company consistently applies the dealer (market maker) pricing estimate and classifies the asset or liability in Level 2. If quoted market prices or inputs are not available, fair value measurements are based upon valuation models that utilize current market or independently sourced market inputs, such as interest rates, option volatilities, credit spreads and/or market capitalization rates. Items valued using such internally generated valuation techniques are classified according to the lowest level input that is significant to the fair value measurement. As a result, the asset or liability could be classified in either Level 2 or Level 3 even though there may be some significant inputs that are readily observable. Internal fair value models and techniques used by the Company include discounted cash flow valuation models. STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 2. Summary of Significant Accounting Policies (Cont.)
Stock-Based Compensation	Stock-Based Compensation The Company accounts for share-based payment awards in accordance with ASC Topic 718, Compensation – Stock Compensation (“ASC 718”). ASC 718 requires that the cost resulting from all share-based payment transactions be recognized in the consolidated financial statements. ASC 718 requires all entities to apply a fair value-based measurement method in accounting for share-based payment transactions. The Company recognizes share-based payments over the vesting period.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Measurement of Credit Losses on Financial Instruments Upon adoption of ASU 2016-13, the Company is required to reassess its financing receivables, including leases and notes receivable, and expects that application of ASU 2016-13 may result in the Company recognizing credit losses at an earlier date than would otherwise be recognized under current accounting guidance. On October 16, 2019 the FASB approved ASU 2019-10 which extends the effective date of ASU 2016-13 to January 1, 2023, for smaller reporting companies. Adoption of ASU 2016-13 on January 1, 2023, is not expected to be material to the Company’s consolidated financial position and results of operations.

Business (Tables)

Business (Tables)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Consolidated Financial Statement	Interim Consolidated Financial Statements Schedule of Consolidated Financial Statement (Amounts in $000’s) Predecessor SF REIT, INC. January 1, 2021 through June 7, 2021 June 8, 2021 through June 30, 2021 TOTAL Revenues Rental revenues $ 35,440 $ 5,063 $ 40,503 Expenses: Depreciation $ 10,303 $ 1,483 $ 11,786 Amortization 1,323 191 1,514 General and administrative expenses 1,928 359 2,287 Property taxes 4,039 503 4,542 Facility rent expenses 217 31 248 Provision for doubtful accounts 93 - 93 Total expenses $ 17,903 $ 2,567 $ 20,470 Income from operations 17,537 2,496 20,033 Interest expense, net $ (8,769 ) $ (1,237 ) $ (10,006 ) Amortization of deferred financing costs (132 ) (19 ) (151 ) Mortgage insurance premium (691 ) (137 ) (828 ) Total interest expense $ (9,592 ) $ (1,393 ) $ (10,985 ) Other income (loss) Gain from sale of real estate investments 3,842 - 3,842 Foreign currency transaction loss (6,844 ) - (6,844 ) Net income $ 4,943 $ 1,103 $ 6,046 Less net income attributable to non-controlling interest $ - (978 ) (978 ) Net Income attributable to Predecessor Company - - (4,943 ) Net income attributable to common stockholders $ - $ 125 125 STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 1. Business (Cont.) Interim Consolidated Financial Statements (Cont.) Predecessor SF REIT, INC. April 1, 2021 through June 7, 2021 June 8, 2021 through June 30, 2021 TOTAL Revenues Rental revenues $ 14,288 $ 5,063 $ 19,351 Expenses: Depreciation $ 4,382 $ 1,483 $ 5,865 Amortization 566 191 757 General and administrative expenses 381 359 740 Property taxes 1,489 503 1,992 Facility rent expenses 92 31 123 Provision for doubtful accounts (250 ) - (250 ) Total expenses $ 6,660 $ 2,567 $ 9,227 Income from operations 7,628 2,496 10,124 Interest expense, net $ (3,910 ) $ (1,237 ) $ (5,147 ) Amortization of deferred financing costs (56 ) (19 ) (75 ) Mortgage insurance premium (310 ) (137 ) (447 ) Total interest expense $ (4,276 ) $ (1,393 ) $ (5,669 ) Other Loss- Other income (loss) Loss from sale of real estate investments (88 ) - (88 ) Gain (Loss) from sale of real estate investments (88 ) - (88 ) Net income $ 3,264 $ 1,103 $ 4,367 Less net income attributable to non-controlling interest $ - (978 ) (978 ) Net Income attributable to Predecessor Company - - (3,264 ) Net income attributable to common stockholders $ - $ 125 125

Restricted Cash and Equivalen_2

Restricted Cash and Equivalents (Tables)	6 Months Ended
	Jun. 30, 2022
Cash and Cash Equivalents [Abstract]
Schedule of Restricted Cash and Equivalents and Escrow Deposits	The following table presents the Company’s restricted cash and equivalents and escrow deposits: Schedule of Restricted Cash and Equivalents and Escrow Deposits June 30, December 31, 2022 2021 (amounts in $000’s) Escrow with trustee $ 12,038 $ 1,255 MIP escrow accounts 1,289 886 Other escrow and debt deposits 244 832 Property tax and insurance escrow 3,635 3,511 Interest reserve bonds escrow 2,734 6,161 HUD replacement reserves 13,488 13,277 Total restricted cash and equivalents $ 33,428 $ 25,922

Real Estate Investments, net (T

Real Estate Investments, net (Tables)	6 Months Ended
	Jun. 30, 2022
Real Estate [Abstract]
Schedule of Real Estate Investment	Real estate investments consist of the following: Schedule of Real Estate Investment Estimated June 30, December 31, Useful Lives 2022 2021 (Years) (Amounts in $000’s) Buildings and improvements 7 53 $ 494,015 $ 494,015 Equipment and personal property 1 14 78,011 78,011 Land - 60,010 60,010 Real estate investments, gross 632,036 632,036 Less: accumulated depreciation (182,359 ) (169,308 ) Real estate investments, net $ 449,677 $ 462,728

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill	Intangible assets consist of the following goodwill, Certificate of Need (“CON”) licenses and lease rights: Schedule of Intangible Assets and Goodwill Goodwill including CON Licenses Lease Rights Total (Amounts in $000’s) Balances, December 31, 2020 Gross $ 1,323 $ 54,577 $ 55,900 Accumulated amortization - (38,212 ) (38,212 ) Net carrying amount 1,323 16,365 17,688 Amortization - (1,514 ) (1,514 ) Balances, June 30, 2021 Gross 1,323 54,577 55,900 Accumulated amortization - (39,726 ) (39,726 ) Net carrying amount $ 1,323 $ 14,851 $ 16,174 Balances, December 31, 2021 Gross $ 1,323 $ 54,577 $ 55,900 Accumulated amortization - (41,240 ) (41,240 ) Net carrying amount 1,323 13,337 14,660 Amortization - (1,514 ) (1,514 ) Balances, June 30, 2022 Gross 1,323 54,577 55,900 Accumulated amortization - (42,754 ) (42,754 ) Net carrying amount $ 1,323 $ 11,823 $ 13,146
Schedule of Estimated Amortization Expenses	Estimated amortization expense for all lease rights for each of the future years ending December 31, is as follows: Schedule of Estimated Amortization Expenses Amortization of (Amounts in $000’s) 2022 (six months) $ 1,514 2023 3,028 2024 3,028 2025 3,028 2026 675 Thereafter 550 Total $ 11,823

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2022
Leases
Schedule of Properties Owned and Leased Information	The following table provides additional information regarding the properties owned/leased by the for the periods indicated: Schedule of Properties Owned and Leased Information June 30, December 31, 2022 2021 Cumulative number of properties 79 79 Cumulative number of operational beds 10,426 10,426
Schedule of Additional Information on Properties Facilities Leased	The following table provides additional information regarding the properties/facilities leased by the Company as of June 30, 2022: Schedule of Additional Information on Properties Facilities Leased State Number of Owned by Company Leased by Company Total Illinois 4,327 21 - 21 Indiana 1,388 14 1 15 Michigan 100 1 - 1 Ohio 238 4 - 4 Tennessee 1,056 12 - 12 Kentucky 1,045 9 - 9 Arkansas 1,572 13 - 13 Oklahoma (*) 137 1 - 1 Texas (*) 563 3 - 3 Total properties 10,426 78 1 79 Facility Type Skilled Nursing Facilities 10,174 71 1 72 Long-Term Acute Care Hospitals 153 4 - 4 Assisted Living Facility 99 3 - 3 Total facilities 10,426 78 1 79 (*) Each property is comprised of a skilled nursing facility and long-term acute care hospital.
Schedule of Future Minimum Rental Revenues	As of June 30, 2022, total future minimum rental revenues for the Company’s tenants are as follows: Schedule of Future Minimum Rental Revenues Year Amount (Amounts in $000s) 2022 (six-month period) $ 40,289 2023 80,987 2024 82,395 2025 72,171 2026 52,976 Thereafter 160,193 Total $ 489,011
Schedule of Property Leases to Third Parties	The following table provides summary information regarding the number of operational beds associated with a property leased by the Company and subleased to third-party operators: Schedule of Property Leases to Third Parties June 30, December 31, 2022 2021 Number of facilities leased and subleased to third-parties 1 1 Number of operational beds 68 68
Schedule of Future Minimum Lease Payments On Non Cancellable Leases	Future minimum operating lease payments under non-cancellable leases as of June 30, 2022, reconciled to the Company’s operating lease liability presented on the consolidated balance sheets: Schedule of Future Minimum Lease Payments On Non Cancellable Leases (Amounts in $000s) 2022 (six-month period) $ 187 2023 375 2024 375 2025 375 2026 375 Thereafter 468 Total $ 2,155 Less Interest (238 ) Total operating lease liability $ 1,917

Notes Payable and Other Debt (T

Notes Payable and Other Debt (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Notes Payable and Other Debt	Notes Payable and Other Debt consist of the following: Schedule of Notes Payable and Other Debt Weighted Interest Rate at June 30, June 30, December 31, 2022 2022 2021 (Amounts in $000s) HUD guaranteed bank loans 3.23 % $ 279,481 $ 283,108 Bank loans 5.20 % 106,998 24,789 Series A, Series B and Series C Bonds 6.12 % 89,934 194,926 Loans from others 5.48 % 1,354 $ 1,354 Gross Notes Payable and other Debt $ 477,767 $ 504,177 Debt issuance costs (2,493 ) (2,377 ) Net Notes Payable and other Debt $ 475,274 $ 501,800
Schedule of Notes Payable and Other Debt Payables Maturity	Principal payments on the Notes Payable and Other Debt payable through maturity are as follows (amounts in $000s): Schedule of Notes Payable and Other Debt Payables Maturity Year Ending December 31, 2022 (six-month period) $ 16,170 2023 28,296 2024 25,870 2025 15,589 2026 57,617 Thereafter 334,225 Total $ 477,767

Related Party Transactions an_2

Related Party Transactions and Economic Dependence (Tables)	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table sets forth details of the lease agreements in force between the Company and its subsidiaries and lessees that are related parties: Schedule of Related Party Transactions Related Party Ownership in State Lessor/ Tenant/Operator Moishe Gubin/Gubin Enterprises LP Michael Blisko/Blisko Enterprises LP Ted Lerman/A&F Realty LLC Average annual rent over life of lease Annual Escalation % of total rent Lease maturity Extension options Master Lease Indiana IN 1020 West Vine Street Realty, LLC The Waters of Princeton II, LLC 39.10 % 40.14 % 20.20 % $ 1,045,506 3.00 % 1.45 % 8/1/2025 2 five year IN 12803 Lenover Street Realty LLC The Waters of Dillsboro – Ross Manor II LLC 39.10 % 40.14 % 20.20 % 1,353,655 3.00 % 1.87 % 8/1/2025 2 five year IN 1350 North Todd Drive Realty, LLC The Waters of Scottsburg II LLC 39.10 % 40.14 % 20.20 % 1,089,527 3.00 % 1.51 % 8/1/2025 2 five year IN 1600 East Liberty Street Realty LLC The Waters of Covington II LLC 39.10 % 40.14 % 20.20 % 1,309,634 3.00 % 1.81 % 8/1/2025 2 five year IN 1601 Hospital Drive Realty LLC The Waters of Greencastle II LLC 39.10 % 40.14 % 20.20 % 1,100,532 3.00 % 1.52 % 8/1/2025 2 five year IN 1712 Leland Drive Realty, LLC The Waters of Huntingburg II LLC 39.10 % 40.14 % 20.20 % 1,045,506 3.00 % 1.45 % 8/1/2025 2 five year IN 2055 Heritage Drive Realty LLC The Waters of Martinsville II LLC 39.10 % 40.14 % 20.20 % 1,133,548 3.00 % 1.57 % 8/1/2025 2 five year IN 3895 South Keystone Avenue Realty LLC The Waters of Indianapolis II LLC 39.10 % 40.14 % 20.20 % 891,431 3.00 % 1.23 % 8/1/2025 2 five year IN 405 Rio Vista Lane Realty LLC The Waters of Rising Sun II LLC 39.10 % 40.14 % 20.20 % 638,309 3.00 % 0.88 % 8/1/2025 2 five year IN 950 Cross Avenue Realty LLC The Waters of Clifty Falls II LLC 39.10 % 40.14 % 20.20 % 1,518,735 3.00 % 2.10 % 8/1/2025 2 five year IN 958 East Highway 46 Realty LLC The Waters of Batesville II LLC 39.10 % 40.14 % 20.20 % 946,458 3.00 % 1.31 % 8/1/2025 2 five year IN 2400 Chateau Drive Realty, LLC The Waters of Muncie II LLC 39.10 % 40.14 % 20.20 % 792,383 3.00 % 1.10 % 8/1/2025 2 five year IN The Big H2O LLC The Waters of New Castle II LLC 39.10 % 40.14 % 20.20 % 726,351 3.00 % 1.00 % 8/1/2025 2 five year STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 11. Related Party Transactions and Economic Dependence (cont.) Lease Agreements with Related Parties (cont.) State Lessor/ Tenant/Operator Moishe Gubin/Gubin Enterprises LP Michael Blisko/Blisko Enterprises LP Ted Lerman/A&F Realty LLC Average annual rent over life of lease Annual Escalation % of total rent Lease maturity Extension options Master Lease Tennessee TN 115 Woodlawn Drive, LLC Lakebridge, a Waters Community, LLC 40.00 % 40.00 % 20.00 % 1,514,820 3.00 % 1.81 % 8/1/2031 2 five year TN 146 Buck Creek Road, LLC The Waters of Roan Highlands, LLC 40.00 % 40.00 % 20.00 % 1,111,794 3.00 % 1.33 % 8/1/2031 2 five year TN 704 5 th The Waters of Springfield, LLC 40.00 % 40.00 % 20.00 % 917,230 3.00 % 1.09 % 8/1/2031 2 five year TN 2501 River Road, LLC The Waters of Cheatham, LLC 40.00 % 40.00 % 20.00 % 1,111,794 3.00 % 1.33 % 8/1/2031 2 five year TN 202 Enon Springs Road East, LLC The Waters of Smyrna, LLC 40.00 % 40.00 % 20.00 % 1,264,666 3.00 % 1.51 % 8/1/2031 2 five year TN 140 Technology Lane, LLC The Waters of Johnson City, LLC 40.00 % 40.00 % 20.00 % 1,167,384 3.00 % 1.39 % 8/1/2031 2 five year TN 835 Union Street, LLC The Waters of Shelbyville, LLC 40.00 % 40.00 % 20.00 % 1,334,153 3.00 % 1.59 % 8/1/2031 2 five year STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 11. Related Party Transactions and Economic Dependence (cont.) Lease Agreements with Related Parties (cont.) State Lessor/ Tenant/Operator Moishe Gubin/Gubin Enterprises LP Michael Blisko/Blisko Enterprises LP Ted Lerman/A&F Realty LLC Average annual rent over life of lease Annual Escalation % of total rent Lease maturity Extension options Master Lease Tennessee 2 TN 505 North Roan, LLC Agape Rehabilitation & Nursing Center, A Water’s Community LLC 40.00 % 40.00 % 20.00 % 1,628,910 3.00 % 1.97 % 7/1/2031 2 five year TN 14510 Highway 79, LLC Waters of McKenzie, A Rehabilitation & Nursing Center, LLC 40.00 % 40.00 % 20.00 % 1,279,858 3.00 % 1.55 % 7/1/2031 2 five year TN 6500 Kirby Gate Boulevard, LLC Waters of Memphis, A Rehabilitation & Nursing Center, LLC 40.00 % 40.00 % 20.00 % 1,745,261 3.00 % 2.11 % 7/1/2031 2 five year TN 978 Highway 11 South, LLC Waters of Sweetwater, A Rehabilitation & Nursing Center, LLC 40.00 % 40.00 % 20.00 % 1,745,261 3.00 % 2.11 % 7/1/2031 2 five year TN 2830 Highway 394, LLC Waters of Bristol, A Rehabilitiation & Nursing Center, LLC 40.00 % 40.00 % 20.00 % 2,327,014 3.00 % 2.81 % 7/1/2031 2 five year STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 11. Related Party Transactions and Economic Dependence (cont.) Lease Agreements with Related Parties (cont.) Related Party Ownership in State Lessor/ Tenant/ Operator Moishe Gubin/Gubin Enterprises LP Michael Blisko/Blisko Enterprises LP Ted Lerman/A&F Realty LLC Average Annual rent over life of lease Annual Escalation % of total rent Lease maturity Extension options IL 516 West Frech Street, LLC Parker Nursing & Rehabilitation Center, LLC 50.00 % 50.00 % 0.00 % $ 498,350 Varies between $12,000 and $24,000 annually 0.69 % 3/31/2031 None IN 1316 North Tibbs Avenue Realty, LLC Westpark, a Waters Community, LLC 40.00 % 40.00 % 20.00 % 549,884 3.00 % 0.76 % 6/1/2024 2 five year IL Ambassador Nursing Realty, LLC Ambassador Nursing and Rehabilitation Center II, LLC 37.50 % 37.50 % 5.00 % 1,005,313 3.00 % 1.39 % 2/28/2026 2 five year IL Momence Meadows Realty, LLC Momence Meadows Nursing & Rehabilitation Center, LLC 50.00 % 50.00 % 0.00 % 1,038,000 None 1.44 % 12/30/2025 None IL Oak Lawn Nursing Realty, LLC Oak Lawn Respiratory and Rehabilitation Center, LLC 50.00 % 50.00 % 0.00 % 1,083,048 None 1.50 % 6/1/2031 None IL Forest View Nursing Realty, LLC Forest View Rehabilitation and Nursing Center, LLC 50.00 % 50.00 % 0.00 % 1,215,483 3.00 % 1.68 % 12/1/2024 2 five year IL Lincoln Park Holdings, LLC Lakeview Rehabilitation and Nursing Center, LLC 40.00 % 40.00 % 0.00 % 1,260,000 None 1.74 % 5/31/2031 None IL Continental Nursing Realty, LLC Continental Nursing and Rehabilitation Center, LLC 37.50 % 37.50 % 5.00 % 1,575,348 None 2.18 % 3/1/2031 None IL Westshire Nursing Realty, LLC City View Multicare Center, LLC 50.00 % 50.00 % 0.00 % 1,788,365 3.00 % 2.47 % 9/1/2025 2 five year IL Belhaven Realty, LLC Belhaven Nursing and Rehabilitation Center, LLC 35.00 % 35.00 % 24.99 % 2,134,570 3.00 % 2.95 % 2/28/2026 2 five year IL West Suburban Nursing Realty, LLC West Suburban Nursing & Rehabilitation Center, LLC 37.50 % 37.50 % 5.00 % 1,961,604 None 2.71 % 11/1/2027 None STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 11. Related Party Transactions and Economic Dependence (cont.) Lease Agreements with Related Parties (cont.) Related Party Ownership in State Lessor/ Tenant/ Operator Moishe Gubin/Gubin Enterprises LP Michael Blisko/Blisko Enterprises LP Ted Lerman/A&F Realty LLC Average Annual rent over life of lease Annual Escalation % of total rent Lease maturity Extension options IN 1585 Perry Worth Road, LLC The Waters of Lebanon, LLC 40.00 % 40.00 % 20.00 % $ 116,676 3.00 % 0.16 % 6/1/2027 2 five year IL Niles Nursing Realty LLC Niles Nursing & Rehabilitation Center LLC 40.00 % 40.00 % 20.00 % 2,409,998 3.00 % 3.33 % 2/28/2026 2 five year IL Parkshore Estates Nursing Realty, LLC Parkshore Estates Nursing and Rehabilitation Center, LLC 30.00 % 30.00 % 20.00 % 2,454,187 3.00 % 3.39 % 12/1/2024 2 five year IL Midway Neurological and Rehabilitation Realty, LLC Midway Neurological and Rehabilitation Center, LLC 33.39 % 33.39 % 23.97 % 2,547,712 3.00 % 3.52 % 2/28/2026 2 five year IL 4343 Kennedy Drive, LLC Hope Creek Nursing and Rehabilitation Center, LLC 27.50 % 27.50 % 0.00 % 478,958 3.00 % 0.58 % 10/1/2030 2 five year STRAWBERRY FIELDS REIT, Inc. and Subsidiaries and Predecessor NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 11. Related Party Transactions and Economic Dependence (cont.) Lease Agreements with Related Parties (cont.) Affiliate Ownership in Operator State Lessor/ Tenant Moishe Gubin / Gubin Enterprises LP Michael Blisko / Blisko Enterprises LP Ted Lerman / A&F Realty LLC Steven Blisko Average Annual rent over life of lease Annual Escalation % of total rent Lease maturity Extension options Master Lease Central Illinois 1 IL 253 Bradington Drive, LLC Columbia Rehabilitation and Nursing Center LLC 0.00 % 0.00 % 40.00 % 60.00 % $ 399,076 3.0 % 0.55 % 4/1/2031 4 five year IL 3523 Wickenhauser, LLC Alton Rehabilitation and Nursing Center LLC 0.00 % 0.00 % 40.00 % 60.00 % 606,998 3.0 % 0.84 % 4/1/2031 4 five year IL 727 North 17 th Belleville Rehabilitation and Nursing Center LLC 0.00 % 0.00 % 40.00 % 60.00 % 603,644 3.0 % 0.83 % 4/1/2031 4 five year Master Lease Central Illinois 2L IL 107 South Lincoln Street, LLC Park Haven Nursing & Rehabilitation Center, LLC 0.00 % 0.00 % 40.00 % 60.00 % 390,846 1.00 % 0.54 % 6/1/2034 1 ten year IL 1623 West Delmar Avenue, LLC Godfrey Healthcare & Rehabilitation Center, LLC 0.00 % 0.00 % 40.00 % 60.00 % 263,144 1.00 % 0.36 % 6/1/2034 1 ten year IL 393 Edwardsville Road, LLC Wood River Healthcare & Rehabilitation Center, LLC 0.00 % 0.00 % 40.00 % 60.00 % 410,194 1.00 % 0.56 % 6/1/2034 1 ten year
Schedule of Balances with Related Parties	Balances with Related Parties Schedule of Balances with Related Parties June 30, December 31, 2022 2021 (amounts in $000s) Straight-line rent receivable $ 14,691 $ 15,261 Tenant portion of replacement reserve $ 9,552 $ 10,331
Schedule of Payments from and to Related Parties	Payments from and to Related Parties Schedule of Payments from and to Related Parties Six Months ended June 30, Three Months ended June 30, 2022 2021 2022 2021 (amounts in $000s) (amounts in $000s) Rental income received from related parties $ 27,171 28,405 $ 13,599 14,013

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value on the Consolidated Balance Sheets	Schedule of Fair Value on the Consolidated Balance Sheets June 30, 2022 December 31, 2021 (amounts in $000s) Level Carrying Amount Fair Value Carrying Amount Fair Value Senior debt and bonds 3 $ 475,274 471,327 $ 501,800 508,297 Notes receivable 3 $ 17,444 17,444 $ 9,831 9,831

Financing Income (Expenses), _2

Financing Income (Expenses), Net (Tables)	6 Months Ended
	Jun. 30, 2022
Other Income and Expenses [Abstract]
Schedule of Financing Income (Expenses), Net	Schedule of Financing Income (Expenses), Net Six months ended June 30, Three months ended June 30 2022 2021 2022 2021 (amounts in $000s) (amounts in $000s) Financing expenses Interest expenses with respect to bonds $ (3,665 ) $ (4,359 ) $ (1,495 ) $ (2,241 ) Interest expenses on loans from banks and others (5,374 ) (5,529 ) (3,593 ) (2,792 ) Interest expenses with respect to leases (41 ) (50 ) (20 ) (26 ) Other financing expenses (including related parties), net (59 ) (238 ) 610 (210 ) Total financing expenses $ (9,139 ) $ (10,176 ) $ (4,498 ) (5,269 ) Financing income $ 100 $ 170 $ (52 ) 122 Interest Expense, Net $ (9,039 ) $ (10,006 ) $ (4,550 ) (5,147 )

Schedule of Consolidated Financ

Schedule of Consolidated Financial Statement (Details) - USD ($) $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended				5 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 07, 2021	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 07, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues
Rental revenues	$ 5,063	$ 14,288	$ 21,778		$ 19,351			$ 44,737	$ 40,503
Expenses:
Depreciation	1,483	4,382	6,524		5,865			13,051	11,786
Amortization	191	566	757		757			1,514	1,514
General and administrative expenses	359	381	832		740			3,421	2,287
Property taxes	503	1,489	2,677		1,992			5,620	4,542
Facility rent expenses	31	92	128		123			259	248
Provision for doubtful accounts		(250)	413		(250)			663	93
Total expenses	2,567	6,660	11,331		9,227			24,528	20,470
Income from operations	2,496	7,628	10,447		10,124			20,209	20,033
Interest expense, net	(1,237)	(3,910)	(4,550)		(5,147)			(9,039)	(10,006)
Amortization of deferred financing costs	(19)	(56)	(129)		(75)			(187)	(151)
Mortgage insurance premium	(137)	(310)	(430)		(447)			(861)	(828)
Total interest expense	(1,393)	(4,276)	(5,109)		(5,669)			(10,087)	(10,985)
Other income (loss)
Gain (Loss) from sale of real estate investments		(88)			(88)				3,842
Foreign currency transaction loss									(6,844)
Net income	1,103	3,264	5,338	$ (5,316)	4,367	$ 1,679		22	6,046
Less net income attributable to non-controlling interest	(978)		(4,751)		(978)			(20)	(978)
Net Income attributable to Predecessor Company					(3,264)				(4,943)
Net income attributable to common stockholders	$ 125		$ 587		$ 125			$ 2	$ 125
Reorganization, Chapter 11, Predecessor, before Adjustment [Member]
Revenues
Rental revenues							$ 35,440
Expenses:
Depreciation							10,303
Amortization							1,323
General and administrative expenses							1,928
Property taxes							4,039
Facility rent expenses							217
Provision for doubtful accounts							93
Total expenses							17,903
Income from operations							17,537
Interest expense, net							(8,769)
Amortization of deferred financing costs							(132)
Mortgage insurance premium							(691)
Total interest expense							(9,592)
Other income (loss)
Gain (Loss) from sale of real estate investments							3,842
Foreign currency transaction loss							(6,844)
Net income							4,943
Less net income attributable to non-controlling interest
Net Income attributable to Predecessor Company
Net income attributable to common stockholders

Business (Details Narrative)

Business (Details Narrative)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021	Jun. 08, 2021
Non controlling interest operatiing percentage	89%	89%
Strawbeery Fields REITLLC [Member]
Equity method investment ownership percentage			9.80%
Strawbeery Fields REITLLC [Member] | Operating Partnership [Member]
Equity method investment ownership percentage			11.30%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Cash	$ 22,868,000	$ 36,359,000
Increase decrease rent percentage	1%
Receivables	$ 17,400,000	$ 9,800,000
Operating Partnership Units [Member]
Property, Plant and Equipment [Line Items]
Operating partnership outstanding	47,212,167
Minimum [Member] | Building [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	7 years
Minimum [Member] | Equipment And Personal Property [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	1 year
Maximum [Member]
Property, Plant and Equipment [Line Items]
Increase decrease rent percentage	3%
Maximum [Member] | Building [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	53 years
Maximum [Member] | Equipment And Personal Property [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	14 years

Schedule of Restricted Cash and

Schedule of Restricted Cash and Equivalents and Escrow Deposits (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Total restricted cash and equivalents	$ 33,428	$ 25,922
Escrow With Trustee [Member]
Total restricted cash and equivalents	12,038	1,255
MIP Escrow With Accounts [Member]
Total restricted cash and equivalents	1,289	886
Other Escrow And Debt Deposite [Member]
Total restricted cash and equivalents	244	832
Property Tax And Insurance Escrow [Member]
Total restricted cash and equivalents	3,635	3,511
Interest Reserve Bonds Escrow [Member]
Total restricted cash and equivalents	2,734	6,161
HUD Replacement Reserves [Member]
Total restricted cash and equivalents	$ 13,488	$ 13,277

Schedule of Real Estate Investm

Schedule of Real Estate Investment (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Real Estate [Line Items]
Real estate investments, gross	$ 632,036	$ 632,036
Less: accumulated depreciation	(182,359)	(169,308)
Real estate investments, net	449,677	462,728
Building [Member]
Real Estate [Line Items]
Real estate investments, gross	$ 494,015	494,015
Building [Member] | Minimum [Member]
Real Estate [Line Items]
Property plant and equipment useful life	7 years
Building [Member] | Maximum [Member]
Real Estate [Line Items]
Property plant and equipment useful life	53 years
Equipment And Personal Property [Member]
Real Estate [Line Items]
Real estate investments, gross	$ 78,011	78,011
Equipment And Personal Property [Member] | Minimum [Member]
Real Estate [Line Items]
Property plant and equipment useful life	1 year
Equipment And Personal Property [Member] | Maximum [Member]
Real Estate [Line Items]
Property plant and equipment useful life	14 years
Land [Member]
Real Estate [Line Items]
Real estate investments, gross	$ 60,010	$ 60,010

Real Estate Investments, net (D

Real Estate Investments, net (Details Narrative) - USD ($) $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 07, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Depreciation	$ 1,483	$ 4,382	$ 6,524	$ 5,865	$ 13,051	$ 11,786
Real Estate Investement [Member]
Depreciation			$ 6,500		$ 13,000
Real Estate Investment [Member]
Depreciation				$ 5,900		$ 11,800

Schedule of Intangible Assets a

Schedule of Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross	$ 55,900	$ 55,900	$ 55,900	$ 55,900
Accumulated amortization	(42,754)	(41,240)	(39,726)	(38,212)
Net carrying amount	13,146	14,660	16,174	17,688
Amortization		(1,514)		(1,514)
Goodwill Including CONLicenses [Member]
Finite-Lived Intangible Assets [Line Items]
Gross	1,323	1,323	1,323	1,323
Accumulated amortization
Net carrying amount	1,323	1,323	1,323	1,323
Amortization
Lease Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Gross	54,577	54,577	54,577	54,577
Accumulated amortization	(42,754)	(41,240)	(39,726)	(38,212)
Net carrying amount	$ 11,823	13,337	$ 14,851	16,365
Amortization		$ (1,514)		$ (1,514)

Schedule of Estimated Amortizat

Schedule of Estimated Amortization Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Thereafter	$ 550
Total	13,146	$ 14,660	$ 16,174	$ 17,688
Lease Rights [Member]
Finite-Lived Intangible Assets [Line Items]
2022 (six months)	1,514
2023	3,028
2024	3,028
2025	3,028
2026	675
Total	$ 11,823	$ 13,337	$ 14,851	$ 16,365

Schedule of Properties Owned an

Schedule of Properties Owned and Leased Information (Details) - Integer Integer in Thousands	Jun. 30, 2022	Dec. 31, 2021
Leases
Cumulative number of properties	79	79
Cumulative number of operational beds	10,426	10,426

Schedule of Additional Informat

Schedule of Additional Information on Properties Facilities Leased (Details) Integer in Thousands	Jun. 30, 2022 Integer
Number of operational units	10,426
Owned by company units	78
Leased by company units	1
Total operational units	79
Skilled Nursing Facilities [Member]
Number of operational units	10,174
Owned by company units	71
Leased by company units	1
Total operational units	72
Long Term A cute Care Hospitals [Member]
Number of operational units	153
Owned by company units	4
Leased by company units
Total operational units	4
Assisted Living Facility [Member]
Number of operational units	99
Owned by company units	3
Leased by company units
Total operational units	3
ILLINOIS
Number of operational units	4,327
Owned by company units	21
Leased by company units
Total operational units	21
INDIANA
Number of operational units	1,388
Owned by company units	14
Leased by company units	1
Total operational units	15
MICHIGAN
Number of operational units	100
Owned by company units	1
Leased by company units
Total operational units	1
OHIO
Number of operational units	238
Owned by company units	4
Leased by company units
Total operational units	4
TENNESSEE
Number of operational units	1,056
Owned by company units	12
Leased by company units
Total operational units	12
KENTUCKY
Number of operational units	1,045
Owned by company units	9
Leased by company units
Total operational units	9
ARKANSAS
Number of operational units	1,572
Owned by company units	13
Leased by company units
Total operational units	13
OKLAHOMA
Number of operational units	137	[1]
Owned by company units	1	[1]
Leased by company units		[1]
Total operational units	1	[1]
TEXAS
Number of operational units	563	[1]
Owned by company units	3	[1]
Leased by company units		[1]
Total operational units	3	[1]
[1]Each property is comprised of a skilled nursing facility and long-term acute care hospital.

Schedule of Future Minimum Rent

Schedule of Future Minimum Rental Revenues (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Leases
2022 (six-month period)	$ 40,289
2023	80,987
2024	82,395
2025	72,171
2026	52,976
Thereafter	160,193
Total	$ 489,011

Schedule of Property Leases to

Schedule of Property Leases to Third Parties (Details) - Integer Integer in Thousands	Jun. 30, 2022	Dec. 31, 2021
Leases
Number of facilities leased and subleased to third-parties	1	1
Number of operational beds	68	68

Schedule of Future Minimum Leas

Schedule of Future Minimum Lease Payments On Non Cancellable Leases (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Leases
2022 (six-month period)	$ 187
2023	375
2024	375
2025	375
2026	375
Thereafter	468
Total	2,155
Less Interest	(238)
Total operating lease liability	$ 1,917

Leases (Details Narrative)

Leases (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Leases
Rental expense	$ 46,000	$ 49,500	$ 97,000	$ 99,000

Schedule of Notes Payable and O

Schedule of Notes Payable and Other Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Short-Term Debt [Line Items]
Gross Notes Payable and other Debt	$ 477,767	$ 504,177
Debt issuance costs	(2,493)	(2,377)
Net Notes Payable and other Debt	475,274	501,800
HUD Guaranteed Bank Loans [Member]
Short-Term Debt [Line Items]
Gross Notes Payable and other Debt	$ 279,481	283,108
Weighted average interest rate	3.23%
Bank Loans [Member]
Short-Term Debt [Line Items]
Gross Notes Payable and other Debt	$ 106,998	24,789
Weighted average interest rate	5.20%
Series A Series B AndSeries C Bonds [Member]
Short-Term Debt [Line Items]
Gross Notes Payable and other Debt	$ 89,934	194,926
Weighted average interest rate	6.12%
Loans From Others [Member]
Short-Term Debt [Line Items]
Gross Notes Payable and other Debt	$ 1,354	$ 1,354
Weighted average interest rate	5.48%

Schedule of Notes Payable and_2

Schedule of Notes Payable and Other Debt Payables Maturity (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Debt Disclosure [Abstract]
2022 (six-month period)	$ 16,170
2023	28,296
2024	25,870
2025	15,589
2026	57,617
Thereafter	334,225
Total	$ 477,767

Notes Payable and Other Debt (D

Notes Payable and Other Debt (Details Narrative) $ in Thousands, ₪ in Millions

1 Months Ended

6 Months Ended

12 Months Ended

Mar. 28, 2022 USD ($)

Mar. 21, 2022 USD ($)

Jul. 31, 2021 USD ($)

Jul. 31, 2021 ILS (₪)

May 31, 2017 USD ($)

Sep. 30, 2016 USD ($)

Jun. 30, 2022 USD ($)

Sep. 30, 2023

Oct. 01, 2022

Jul. 04, 2022

Jun. 30, 2022 ILS (₪)

Dec. 31, 2021 USD ($)

Mar. 19, 2020 USD ($)

May 31, 2017 ILS (₪)

Sep. 30, 2016 ILS (₪)

Nov. 30, 2015 USD ($)

Nov. 30, 2015 ILS (₪)

Short-Term Debt [Line Items]

Mortgage loans

$ 387,833

$ 309,251

Offering and issuance, costs

2,493

2,377

Minority interest

49,387

32,785

Minority interest

4,919

2,265

Notes payable

$ 1,400

1,400

BVI Company [Member]

Short-Term Debt [Line Items]

Credit facility of market fair value collateral

Under the terms of the indenture for the Series C Bonds, the BVI Company can take out properties from the collateral (in case of HUD refinancing) or to add properties and increase the Series C Bonds as long as the ratio of outstanding amount of the Series C Bonds to fair market value of the collateral is not more than 65%. In addition, starting from July 1, 2023, if the fair market value of the collateral is below 55%, the BVI Company can request to release collateral so the fair market value will increase to 55%

New Buy Back Program [Member]

Short-Term Debt [Line Items]

Debt instrument, expiration date

Mar. 28, 2023

Maximum [Member] | BVI Company [Member]

Short-Term Debt [Line Items]

Adjustment of Interest rate

80%

Minimum [Member] | BVI Company [Member]

Short-Term Debt [Line Items]

Minority interest

$ 230,000

Minimum [Member] | BVI Company [Member] | Stockholders Equity [Member]

Short-Term Debt [Line Items]

Stockholder's equity percentage

25%

Series B Bonds [Member]

Short-Term Debt [Line Items]

Debt borrowing value

$ 105,000

Downgrade of rating, description

The facility provides for monthly payments of principal based on a 20-year amortization with a balloon payment due in March 2027.

Additional interest rate, percentage

3.50%

5.20%

5.20%

Floor interest rate

4%

Debt outstanding value

$ 103,840

Foreign currency loss

$ 10,100

Credit facility description

(i) a covenant that the ratio of the Company’s indebtedness to its EBITDA cannot exceed 8.0 to 1, (ii) a covenant that the ratio of the Company’s net operating income to its debt service before dividend distribution is at least 1.20 to 1.00 for each fiscal quarter as measured pursuant to the terms of the loan agreement (iii) a covenant that the ratio of the Company’s net operating income to its debt service after dividend distribution is at least 1.05 to 1.00 for each fiscal quarter as measured pursuant to the terms of the loan agreement, and (iii) a covenant that the Company’s GAAP equity is at least $20,000,000.

Mortgage Loans [Member]

Short-Term Debt [Line Items]

Additional interest rate, percentage

0.65%

0.65%

Mortgage loans

$ 279,000

$ 283,000

Weighted interest rate, debt

3.88%

3.88%

3.88%

Series A Bonds [Member]

Short-Term Debt [Line Items]

Downgrade of rating, description

The rate was increased to 6.65% in March 2017 due to the downgrade of the rating of the Series A Bonds by Standard & Poor’s from A to A-. The rate was further increased to 6.90% in August 2019 due to the downgrade of the rating of the BVI Company by Standard & Poor’s from ilA to ilA- and as a result the Series A Bond rating declined from ilA- to ilBBB+. On August 25, 2020, Standard & Poor’s upgraded the rating on Bond A from ilBBB+ to ilA-, however, interest rate was not decreased based on the terms of the debenture. On July 4, 2022, Standard & Poor’s upgraded the rating on Bond A from ilA- to ilA, and interest rate was decreased from 6.9% to 6.4%.

Additional interest rate, percentage

6.40%

6.40%

Weighted interest rate, debt

7.40%

7.40%

Face amount

$ 10,700

$ 18,600

₪ 39

₪ 70

$ 68,000

₪ 265.2

Offering and issuance, costs

$ 11,300

$ 18,800

₪ 40.9

₪ 70.8

$ 64,300

₪ 251.2

Premium percentage, debt

105.90%

103.60%

Debt instrument, description

The annual rate of interest on the Series A Bonds will increase by 0.5%, but only once with respect to each breach of any such covenant, if: (i) the shareholders’ equity of the BVI Company (excluding minority interests) is less than $110 million, (ii) the ratio of adjusted net financial debt to adjusted EBITDA (for the latest four quarters) exceeds 12 or (iii) the ratio of equity to total assets is less than 27%. Compliance with these financial covenants is measured annually and quarterly based on the BVI Company’s annual financial statements and quarterly financial statements.

Annual rate of interest, description

the annual rate of interest on the Series A Bonds will increase by 0.25% if there is a decrease in the rating of the Series A Bonds, up to a maximum increase of 1.25% per year. In the event of the increase in the rate of interest on the Series A Bonds for the above reasons, the rate will be decreased if the underlying cause of the interests is eliminated, provided that the rate of interest will not be less than 6.4%.

Series A Bonds [Member] | First Four Principal Payments [Member]

Short-Term Debt [Line Items]

Original principal amount, rate

15%

Series A Bonds [Member] | Last Four Principal Payments [Member]

Short-Term Debt [Line Items]

Original principal amount, rate

10%

Series A Bonds [Member] | Maximum [Member]

Short-Term Debt [Line Items]

Additional interest rate, percentage

0.50%

6.90%

0.50%

Series A Bonds [Member] | Minimum [Member]

Short-Term Debt [Line Items]

Additional interest rate, percentage

6.40%

Minority interest

$ 110,000

Series A Bonds [Member] | Minimum [Member] | BVI Company [Member]

Short-Term Debt [Line Items]

Equity ratio

27%

27%

Series A And B Bonds [Member] | New Buy Back Program [Member]

Short-Term Debt [Line Items]

Face amount

$ 5,000

Series A And C Bonds[Member] | New Buy Back Program [Member]

Short-Term Debt [Line Items]

Face amount

$ 10,000

Series C Bonds [Member]

Short-Term Debt [Line Items]

Additional interest rate, percentage

5.70%

5.70%

Offering and issuance, costs | ₪

₪ 1.7

Proceeds from Issuance Initial Public Offering

$ 64,700

₪ 208

Series C Bonds [Member] | BVI Company [Member]

Short-Term Debt [Line Items]

Additional interest rate, percentage

1%

1%

Fair market value

75%

Adjustment of Interest rate

1.50%

Interest increasing in additional precentage

0.50%

Maximum issuance of debt

$ 180,000

₪ 630

Series C Bonds [Member] | BVI Company [Member] | Subsequent Event [Member]

Short-Term Debt [Line Items]

Repayment of interest, percentage

2.50%

Debt Instrument, Interest Rate During Period

3%

Series C Bonds [Member] | First Four Principal Payments [Member]

Short-Term Debt [Line Items]

Original principal amount, rate

6%

Series C Bonds [Member] | Maximum [Member] | BVI Company [Member]

Short-Term Debt [Line Items]

Adjustment of Interest rate

1.25%

Series C Bonds [Member] | Minimum [Member] | Stockholders Equity [Member]

Short-Term Debt [Line Items]

Stockholder's equity percentage

27%

Series C Bonds [Member] | Minimum [Member] | BVI Company [Member]

Short-Term Debt [Line Items]

Fair market value

75%

Adjustment of Interest rate

0.25%

Series C Bonds [Member] | Minimum [Member] | BVI Company [Member] | Stockholders Equity [Member]

Short-Term Debt [Line Items]

Minority interest

$ 250,000

Stockholder's equity percentage

30%

Dividend distribution

$ 250,000

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - Five Properties [Member] - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jul. 31, 2022	Dec. 31, 2018
Loss Contingencies [Line Items]
Proceeds from loans		$ 7,740
Payment to acquire properties		$ 3,100
Subsequent Event [Member]
Loss Contingencies [Line Items]
Proceeds from sale of properties	$ 7,500
Subsequent Event [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Proceeds from sale of properties	$ 7,000

Equity Incentive Plan (Details

Equity Incentive Plan (Details Narrative) - 2021 Incentive plan [Member] - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares authorized under plan		250,000
Number of shares available for grant		225,100
Number of shares granted	19,320	0	19,320
Shares based compensation expenses		$ 190,000

Stockholders_ Equity and Dist_2

Stockholders’ Equity and Distributions (Details Narrative) - USD ($)	2 Months Ended	3 Months Ended	6 Months Ended
	Jun. 07, 2021	Mar. 31, 2021	Jun. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Tax description			U.S. federal income tax law requires that a REIT distribute annually at least 90% of its net taxable income, excluding net capital gains, and that it pays tax at regular corporate rates to the extent that it annually distributes less than 100% of its net taxable income, including net capital gains. In addition, a REIT is required to pay a 4% nondeductible excise tax on the amount, if any, by which the distributions that it makes in a calendar year are less than the sum of 85% of its ordinary income, 95% of its capital gain net income and 100% of its undistributed income from prior years.
Common units			10,570
Preferred units			475
Preferred dividends	$ 533,000	$ 527,000	$ 4,500
Operating Partnership Agreement [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock issued, shares			47,212,167
Stock option granted			47,212,167
420 Stockholders [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares outstanding			1,056,507
Equity Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares issued for employees			6,044,230
Equity Incentive Plan [Member] | Operating Partnership Agreement [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common shares reserved			250,000
Common shares available for issuance			225,100

Schedule of Related Party Trans

Schedule of Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Related Party Transaction [Line Items]
Average Annual rent over life of lease	$ 46,000	$ 49,500	$ 97,000	$ 99,000
The Waters of PrincetonII LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			1020 West Vine Street Realty, LLC
Average Annual rent over life of lease			$ 1,045,506
Percentage of total rent			1.45%
Lease maturity, date			Aug. 01, 2025
Extension options			2 five year
Annual Escalation			3%
The Waters of PrincetonII LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			39.10%
The Waters of PrincetonII LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40.14%
The Waters of PrincetonII LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20.20%
The Waters of Dillsboro Ross ManorII LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			12803 Lenover Street Realty LLC
Average Annual rent over life of lease			$ 1,353,655
Percentage of total rent			1.87%
Lease maturity, date			Aug. 01, 2025
Extension options			2 five year
Annual Escalation			3%
The Waters of Dillsboro Ross ManorII LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			39.10%
The Waters of Dillsboro Ross ManorII LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40.14%
The Waters of Dillsboro Ross ManorII LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20.20%
The Waters of ScottsburgII LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			1350 North Todd Drive Realty, LLC
Average Annual rent over life of lease			$ 1,089,527
Percentage of total rent			1.51%
Lease maturity, date			Aug. 01, 2025
Extension options			2 five year
Annual Escalation			3%
The Waters of ScottsburgII LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			39.10%
The Waters of ScottsburgII LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40.14%
The Waters of ScottsburgII LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20.20%
The Waters of Covington II LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			1600 East Liberty Street Realty LLC
Average Annual rent over life of lease			$ 1,309,634
Percentage of total rent			1.81%
Lease maturity, date			Aug. 01, 2025
Extension options			2 five year
Annual Escalation			3%
The Waters of Covington II LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			39.10%
The Waters of Covington II LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40.14%
The Waters of Covington II LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20.20%
The Waters of GreencastleII LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			1601 Hospital Drive Realty LLC
Average Annual rent over life of lease			$ 1,100,532
Percentage of total rent			1.52%
Lease maturity, date			Aug. 01, 2025
Extension options			2 five year
Annual Escalation			3%
The Waters of GreencastleII LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			39.10%
The Waters of GreencastleII LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40.14%
The Waters of GreencastleII LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20.20%
The Waters of Huntingburg II LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			1712 Leland Drive Realty, LLC
Average Annual rent over life of lease			$ 1,045,506
Percentage of total rent			1.45%
Lease maturity, date			Aug. 01, 2025
Extension options			2 five year
Annual Escalation			3%
The Waters of Huntingburg II LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			39.10%
The Waters of Huntingburg II LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40.14%
The Waters of Huntingburg II LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20.20%
The Waters of MartinsvilleII LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			2055 Heritage Drive Realty LLC
Average Annual rent over life of lease			$ 1,133,548
Percentage of total rent			1.57%
Lease maturity, date			Aug. 01, 2025
Extension options			2 five year
Annual Escalation			3%
The Waters of MartinsvilleII LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			39.10%
The Waters of MartinsvilleII LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40.14%
The Waters of MartinsvilleII LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20.20%
The Waters of Indianapolis II LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			3895 South Keystone Avenue Realty LLC
Average Annual rent over life of lease			$ 891,431
Percentage of total rent			1.23%
Lease maturity, date			Aug. 01, 2025
Extension options			2 five year
Annual Escalation			3%
The Waters of Indianapolis II LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			39.10%
The Waters of Indianapolis II LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40.14%
The Waters of Indianapolis II LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20.20%
The Waters of Rising Sun II LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			405 Rio Vista Lane Realty LLC
Average Annual rent over life of lease			$ 638,309
Percentage of total rent			0.88%
Lease maturity, date			Aug. 01, 2025
Extension options			2 five year
Annual Escalation			3%
The Waters of Rising Sun II LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			39.10%
The Waters of Rising Sun II LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40.14%
The Waters of Rising Sun II LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20.20%
The Waters of Clifty Falls II LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			950 Cross Avenue Realty LLC
Average Annual rent over life of lease			$ 1,518,735
Percentage of total rent			2.10%
Lease maturity, date			Aug. 01, 2025
Extension options			2 five year
Annual Escalation			3%
The Waters of Clifty Falls II LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			39.10%
The Waters of Clifty Falls II LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40.14%
The Waters of Clifty Falls II LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20.20%
The Waters of Batesville II LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			958 East Highway 46 Realty LLC
Average Annual rent over life of lease			$ 946,458
Percentage of total rent			1.31%
Lease maturity, date			Aug. 01, 2025
Extension options			2 five year
Annual Escalation			3%
The Waters of Batesville II LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			39.10%
The Waters of Batesville II LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40.14%
The Waters of Batesville II LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20.20%
The Waters of Muncie II LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			2400 Chateau Drive Realty, LLC
Average Annual rent over life of lease			$ 792,383
Percentage of total rent			1.10%
Lease maturity, date			Aug. 01, 2025
Extension options			2 five year
Annual Escalation			3%
The Waters of Muncie II LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			39.10%
The Waters of Muncie II LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40.14%
The Waters of Muncie II LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20.20%
The Waters of New Castle II LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			The Big H2O LLC
Average Annual rent over life of lease			$ 726,351
Percentage of total rent			1%
Lease maturity, date			Aug. 01, 2025
Extension options			2 five year
Annual Escalation			3%
The Waters of New Castle II LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			39.10%
The Waters of New Castle II LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40.14%
The Waters of New Castle II LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20.20%
Lakebridge A Waters Community LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			115 Woodlawn Drive, LLC
Average Annual rent over life of lease			$ 1,514,820
Percentage of total rent			1.81%
Lease maturity, date			Aug. 01, 2031
Extension options			2 five year
Annual Escalation			3%
Lakebridge A Waters Community LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Lakebridge A Waters Community LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Lakebridge A Waters Community LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20%
The Waters of Roan Highlands LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			146 Buck Creek Road, LLC
Average Annual rent over life of lease			$ 1,111,794
Percentage of total rent			1.33%
Lease maturity, date			Aug. 01, 2031
Extension options			2 five year
Annual Escalation			3%
The Waters of Roan Highlands LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
The Waters of Roan Highlands LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
The Waters of Roan Highlands LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20%
The Waters of Springfield LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			704 5th Avenue East, LLC
Average Annual rent over life of lease			$ 917,230
Percentage of total rent			1.09%
Lease maturity, date			Aug. 01, 2031
Extension options			2 five year
Annual Escalation			3%
The Waters of Springfield LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
The Waters of Springfield LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
The Waters of Springfield LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20%
The Waters of Cheatham LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			2501 River Road, LLC
Average Annual rent over life of lease			$ 1,111,794
Percentage of total rent			1.33%
Lease maturity, date			Aug. 01, 2031
Extension options			2 five year
Annual Escalation			3%
The Waters of Cheatham LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
The Waters of Cheatham LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
The Waters of Cheatham LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20%
The Waters of Smyrna LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			202 Enon Springs Road East, LLC
Average Annual rent over life of lease			$ 1,264,666
Percentage of total rent			1.51%
Lease maturity, date			Aug. 01, 2031
Extension options			2 five year
Annual Escalation			3%
The Waters of Smyrna LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
The Waters of Smyrna LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
The Waters of Smyrna LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20%
The Waters of Johnson City LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			140 Technology Lane, LLC
Average Annual rent over life of lease			$ 1,167,384
Percentage of total rent			1.39%
Lease maturity, date			Aug. 01, 2031
Extension options			2 five year
Annual Escalation			3%
The Waters of Johnson City LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
The Waters of Johnson City LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
The Waters of Johnson City LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20%
The Waters of Shelbyville LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			835 Union Street, LLC
Average Annual rent over life of lease			$ 1,334,153
Percentage of total rent			1.59%
Lease maturity, date			Aug. 01, 2031
Extension options			2 five year
Annual Escalation			3%
The Waters of Shelbyville LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
The Waters of Shelbyville LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
The Waters of Shelbyville LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20%
Agape Rehabilitation & Nursing Center A Water's Community LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			505 North Roan, LLC
Average Annual rent over life of lease			$ 1,628,910
Percentage of total rent			1.97%
Lease maturity, date			Jul. 01, 2031
Extension options			2 five year
Annual Escalation			3%
Agape Rehabilitation & Nursing Center A Water's Community LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Agape Rehabilitation & Nursing Center A Water's Community LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Agape Rehabilitation & Nursing Center A Water's Community LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20%
Waters of McKenzie A Rehabilitation & Nursing Center LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			14510 Highway 79, LLC
Average Annual rent over life of lease			$ 1,279,858
Percentage of total rent			1.55%
Lease maturity, date			Jul. 01, 2031
Extension options			2 five year
Annual Escalation			3%
Waters of McKenzie A Rehabilitation & Nursing Center LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Waters of McKenzie A Rehabilitation & Nursing Center LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Waters of McKenzie A Rehabilitation & Nursing Center LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20%
Waters of Memphis A Rehabilitation & Nursing Center LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			6500 Kirby Gate Boulevard, LLC
Average Annual rent over life of lease			$ 1,745,261
Percentage of total rent			2.11%
Lease maturity, date			Jul. 01, 2031
Extension options			2 five year
Annual Escalation			3%
Waters of Memphis A Rehabilitation & Nursing Center LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Waters of Memphis A Rehabilitation & Nursing Center LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Waters of Memphis A Rehabilitation & Nursing Center LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20%
Waters of Sweetwater A Rehabilitation & Nursing Center LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			978 Highway 11 South, LLC
Average Annual rent over life of lease			$ 1,745,261
Percentage of total rent			2.11%
Lease maturity, date			Jul. 01, 2031
Extension options			2 five year
Annual Escalation			3%
Waters of Sweetwater A Rehabilitation & Nursing Center LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Waters of Sweetwater A Rehabilitation & Nursing Center LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Waters of Sweetwater A Rehabilitation & Nursing Center LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20%
Waters of Bristol A Rehabilitiation & Nursing Center LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			2830 Highway 394, LLC
Average Annual rent over life of lease			$ 2,327,014
Percentage of total rent			2.81%
Lease maturity, date			Jul. 01, 2031
Extension options			2 five year
Annual Escalation			3%
Waters of Bristol A Rehabilitiation & Nursing Center LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Waters of Bristol A Rehabilitiation & Nursing Center LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Waters of Bristol A Rehabilitiation & Nursing Center LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20%
Parker Nursing & Rehabilitation Center LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			516 West Frech Street, LLC
Average Annual rent over life of lease			$ 498,350
Percentage of total rent			0.69%
Lease maturity, date			Mar. 31, 2031
Extension options			None
Annual Escalation			Varies between $12,000 and $24,000 annually
Parker Nursing & Rehabilitation Center LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			50%
Parker Nursing & Rehabilitation Center LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			50%
Parker Nursing & Rehabilitation Center LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			0%
Westpark A Waters Community LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			1316 North Tibbs Avenue Realty, LLC
Average Annual rent over life of lease			$ 549,884
Percentage of total rent			0.76%
Lease maturity, date			Jun. 01, 2024
Extension options			2 five year
Annual Escalation			3%
Westpark A Waters Community LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Westpark A Waters Community LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Westpark A Waters Community LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20%
Ambassador Nursing And Rehabilitation Center II LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			Ambassador Nursing Realty, LLC
Average Annual rent over life of lease			$ 1,005,313
Percentage of total rent			1.39%
Lease maturity, date			Feb. 28, 2026
Extension options			2 five year
Annual Escalation			3%
Ambassador Nursing And Rehabilitation Center II LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			37.50%
Ambassador Nursing And Rehabilitation Center II LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			37.50%
Ambassador Nursing And Rehabilitation Center II LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			5%
Momence Meadows Nursing & Rehabilitation Center LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			Momence Meadows Realty, LLC
Average Annual rent over life of lease			$ 1,038,000
Percentage of total rent			1.44%
Lease maturity, date			Dec. 30, 2025
Extension options			None
Annual Escalation			0%
Momence Meadows Nursing & Rehabilitation Center LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			50%
Momence Meadows Nursing & Rehabilitation Center LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			50%
Momence Meadows Nursing & Rehabilitation Center LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			0%
Oak Lawn Respiratory & Rehabilitation Center LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			Oak Lawn Nursing Realty, LLC
Average Annual rent over life of lease			$ 1,083,048
Percentage of total rent			1.50%
Lease maturity, date			Jun. 01, 2031
Extension options			None
Annual Escalation			0%
Oak Lawn Respiratory & Rehabilitation Center LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			50%
Oak Lawn Respiratory & Rehabilitation Center LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			50%
Oak Lawn Respiratory & Rehabilitation Center LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			0%
Forest View Rehabilitation & Nursing Center LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			Forest View Nursing Realty, LLC
Average Annual rent over life of lease			$ 1,215,483
Percentage of total rent			1.68%
Lease maturity, date			Dec. 01, 2024
Extension options			2 five year
Annual Escalation			3%
Forest View Rehabilitation & Nursing Center LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			50%
Forest View Rehabilitation & Nursing Center LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			50%
Forest View Rehabilitation & Nursing Center LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			0%
Lake View Rehabilitation & Nursing Center LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			Lincoln Park Holdings, LLC
Average Annual rent over life of lease			$ 1,260,000
Percentage of total rent			1.74%
Lease maturity, date			May 31, 2031
Extension options			None
Annual Escalation			0%
Lake View Rehabilitation & Nursing Center LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Lake View Rehabilitation & Nursing Center LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Lake View Rehabilitation & Nursing Center LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			0%
Continental Nursing & Rehabilitation Center LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			Continental Nursing Realty, LLC
Average Annual rent over life of lease			$ 1,575,348
Percentage of total rent			2.18%
Lease maturity, date			Mar. 01, 2031
Extension options			None
Annual Escalation			0%
Continental Nursing & Rehabilitation Center LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			37.50%
Continental Nursing & Rehabilitation Center LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			37.50%
Continental Nursing & Rehabilitation Center LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			5%
City View Multicare Center LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			Westshire Nursing Realty, LLC
Average Annual rent over life of lease			$ 1,788,365
Percentage of total rent			2.47%
Lease maturity, date			Sep. 01, 2025
Extension options			2 five year
Annual Escalation			3%
City View Multicare Center LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			50%
City View Multicare Center LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			50%
City View Multicare Center LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			0%
Belhaven Nursing & Rehabilitation Center LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			Belhaven Realty, LLC
Average Annual rent over life of lease			$ 2,134,570
Percentage of total rent			2.95%
Lease maturity, date			Feb. 28, 2026
Extension options			2 five year
Annual Escalation			3%
Belhaven Nursing & Rehabilitation Center LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			35%
Belhaven Nursing & Rehabilitation Center LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			35%
Belhaven Nursing & Rehabilitation Center LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			24.99%
West Suburban Nursing & Rehabilitation Center LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			West Suburban Nursing Realty, LLC
Average Annual rent over life of lease			$ 1,961,604
Percentage of total rent			2.71%
Lease maturity, date			Nov. 01, 2027
Extension options			None
Annual Escalation			0%
West Suburban Nursing & Rehabilitation Center LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			37.50%
West Suburban Nursing & Rehabilitation Center LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			37.50%
West Suburban Nursing & Rehabilitation Center LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			5%
The Waters of Lebanon LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			1585 Perry Worth Road, LLC
Average Annual rent over life of lease			$ 116,676
Percentage of total rent			0.16%
Lease maturity, date			Jun. 01, 2027
Extension options			2 five year
Annual Escalation			3%
The Waters of Lebanon LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
The Waters of Lebanon LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
The Waters of Lebanon LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20%
Niles Nursing & Rehabilitation Center LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			Niles Nursing Realty LLC
Average Annual rent over life of lease			$ 2,409,998
Percentage of total rent			3.33%
Lease maturity, date			Feb. 28, 2026
Extension options			2 five year
Annual Escalation			3%
Niles Nursing & Rehabilitation Center LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Niles Nursing & Rehabilitation Center LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Niles Nursing & Rehabilitation Center LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20%
Parkshore Estates Nursing & Rehabilitation Center LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			Parkshore Estates Nursing Realty, LLC
Average Annual rent over life of lease			$ 2,454,187
Percentage of total rent			3.39%
Lease maturity, date			Dec. 01, 2024
Extension options			2 five year
Annual Escalation			3%
Parkshore Estates Nursing & Rehabilitation Center LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			30%
Parkshore Estates Nursing & Rehabilitation Center LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			30%
Parkshore Estates Nursing & Rehabilitation Center LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			20%
Midway Neurological & Rehabilitation Center LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			Midway Neurological and Rehabilitation Realty, LLC
Average Annual rent over life of lease			$ 2,547,712
Percentage of total rent			3.52%
Lease maturity, date			Feb. 28, 2026
Extension options			2 five year
Annual Escalation			3%
Midway Neurological & Rehabilitation Center LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			33.39%
Midway Neurological & Rehabilitation Center LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			33.39%
Midway Neurological & Rehabilitation Center LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			23.97%
Hope Creek Nursing & Rehabilitation Center LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			4343 Kennedy Drive, LLC
Average Annual rent over life of lease			$ 478,958
Percentage of total rent			0.58%
Lease maturity, date			Oct. 01, 2030
Extension options			2 five year
Annual Escalation			3%
Hope Creek Nursing & Rehabilitation Center LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			27.50%
Hope Creek Nursing & Rehabilitation Center LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			27.50%
Hope Creek Nursing & Rehabilitation Center LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			0%
Columbia Rehabilitation & Nursing Center LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			253 Bradington Drive, LLC
Average Annual rent over life of lease			$ 399,076
Percentage of total rent			0.55%
Lease maturity, date			Apr. 01, 2031
Extension options			4 five year
Annual Escalation			3%
Columbia Rehabilitation & Nursing Center LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			0%
Columbia Rehabilitation & Nursing Center LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			0%
Columbia Rehabilitation & Nursing Center LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Columbia Rehabilitation & Nursing Center LLC [Member] | Steven Blisko [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			60%
Alton Rehabilitation & Nursing Center LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			3523 Wickenhauser, LLC
Average Annual rent over life of lease			$ 606,998
Percentage of total rent			0.84%
Lease maturity, date			Apr. 01, 2031
Extension options			4 five year
Annual Escalation			3%
Alton Rehabilitation & Nursing Center LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			0%
Alton Rehabilitation & Nursing Center LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			0%
Alton Rehabilitation & Nursing Center LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Alton Rehabilitation & Nursing Center LLC [Member] | Steven Blisko [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			60%
Belleville Rehabilitation & Nursing Center LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			727 North 17th Street, LLC
Average Annual rent over life of lease			$ 603,644
Percentage of total rent			0.83%
Lease maturity, date			Apr. 01, 2031
Extension options			4 five year
Annual Escalation			3%
Belleville Rehabilitation & Nursing Center LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			0%
Belleville Rehabilitation & Nursing Center LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			0%
Belleville Rehabilitation & Nursing Center LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Belleville Rehabilitation & Nursing Center LLC [Member] | Steven Blisko [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			60%
Park Haven Nursing & Rehabilitation Center LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			107 South Lincoln Street, LLC
Average Annual rent over life of lease			$ 390,846
Percentage of total rent			0.54%
Lease maturity, date			Jun. 01, 2034
Extension options			1 ten year
Annual Escalation			1%
Park Haven Nursing & Rehabilitation Center LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			0%
Park Haven Nursing & Rehabilitation Center LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			0%
Park Haven Nursing & Rehabilitation Center LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Park Haven Nursing & Rehabilitation Center LLC [Member] | Steven Blisko [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			60%
Godfrey Healthcare & Rehabilitation Center LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			1623 West Delmar Avenue, LLC
Average Annual rent over life of lease			$ 263,144
Percentage of total rent			0.36%
Lease maturity, date			Jun. 01, 2034
Extension options			1 ten year
Annual Escalation			1%
Godfrey Healthcare & Rehabilitation Center LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			0%
Godfrey Healthcare & Rehabilitation Center LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			0%
Godfrey Healthcare & Rehabilitation Center LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Godfrey Healthcare & Rehabilitation Center LLC [Member] | Steven Blisko [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			60%
Wood River Healthcare & Rehabilitation Center LLC [Member]
Related Party Transaction [Line Items]
Lessor/Company Subsidiary			393 Edwardsville Road, LLC
Average Annual rent over life of lease			$ 410,194
Percentage of total rent			0.56%
Lease maturity, date			Jun. 01, 2034
Extension options			1 ten year
Annual Escalation			1%
Wood River Healthcare & Rehabilitation Center LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			0%
Wood River Healthcare & Rehabilitation Center LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			0%
Wood River Healthcare & Rehabilitation Center LLC [Member] | TedLerman and A&F Realty LLC [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Wood River Healthcare & Rehabilitation Center LLC [Member] | Steven Blisko [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			60%

Schedule of Balances with Relat

Schedule of Balances with Related Parties (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Related Party Transactions [Abstract]
Straight-line rent receivable	$ 14,691	$ 15,261
Tenant portion of replacement reserve	$ 9,552	$ 10,331

Schedule of Payments from and t

Schedule of Payments from and to Related Parties (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Related Party Transactions [Abstract]
Rental income received from related parties	$ 13,599	$ 14,013	$ 27,171	$ 28,405

Related Party Transactions an_3

Related Party Transactions and Economic Dependence (Details Narrative) - USD ($)				3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 01, 2022	Apr. 12, 2022	Apr. 04, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Related Party Transaction [Line Items]
Rental payments				$ 46,000,000	$ 49,500,000	$ 97,000,000	$ 99,000,000
ARKANSAS
Related Party Transaction [Line Items]
Payments to acquire property			$ 90,000,000
Mr. Gubin and Mr. Blisko [Member]
Related Party Transaction [Line Items]
Proceeds from loans								$ 21,900,000
Mr. Gubin [Member] | Optimum Bank [Member]
Related Party Transaction [Line Items]
Related party deposit liabilities				5,100,000		$ 5,100,000		$ 17,500,000
Two Master Lease Agreements [Member]
Related Party Transaction [Line Items]
Lease losses, write-offs				$ 1,075,000
Two Master Lease Agreements [Member] | Monthly [Member]
Related Party Transaction [Line Items]
Rental payments		$ 225,000
Two Master Lease Agreements [Member] | Yearly [Member]
Related Party Transaction [Line Items]
Rental payments		$ 2,700,000
New Lease Agreements [Member] | Unaffiliated Third-Party [Member] | Subsequent Event [Member]
Related Party Transaction [Line Items]
Lease term	10 years
New Lease Agreements [Member] | Monthly [Member] | Unaffiliated Third-Party [Member] | Subsequent Event [Member]
Related Party Transaction [Line Items]
Rental payments	$ 180,000
New Lease Agreements [Member] | Yearly [Member] | Unaffiliated Third-Party [Member] | Subsequent Event [Member]
Related Party Transaction [Line Items]
Rental payments	$ 2,300,000

Schedule of Fair Value on the C

Schedule of Fair Value on the Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior debt and bonds, fair value	$ 387,833	$ 309,251
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior debt and bonds, carrying value	475,274	501,800
Senior debt and bonds, fair value	471,327	508,297
Notes receivable, carrying amount	17,444	9,831
Notes receivable, fair value	$ 17,444	$ 9,831

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details Narrative) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair value assets measured on a recurring or non-recurring basis	$ 0	$ 0

Schedule of Financing Income (E

Schedule of Financing Income (Expenses), Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Other Income and Expenses [Abstract]
Interest expenses with respect to bonds	$ (1,495)	$ (2,241)	$ (3,665)	$ (4,359)
Interest expenses on loans from banks and others	(3,593)	(2,792)	(5,374)	(5,529)
Interest expenses with respect to leases	(20)	(26)	(41)	(50)
Other financing expenses (including related parties), net	610	(210)	(59)	(238)
Total financing expenses	(4,498)	(5,269)	(9,139)	(10,176)
Financing income	(52)	122	100	170
Interest Expense, Net	$ (4,550)	$ (5,147)	$ (9,039)	$ (10,006)