Strawberry Fields REIT (STRW) 10-Q 15 May 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2023	May 15, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	001-41628
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, State or Province	IN
Entity Address, Postal Zip Code	46628
City Area Code	(574)
Local Phone Number	807-0800
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	STRW
Security Exchange Name	NYSEAMER
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		6,356,856

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets
Real estate investments, net	$ 436,229	$ 438,911
Cash and cash equivalents	32,396	20,197
Restricted cash and equivalents	20,530	25,507
Straight-line rent receivable, net	24,025	23,534
Right of use lease asset	1,755	1,833
Goodwill, other intangible assets and lease rights	10,875	11,632
Deferred financing expenses	5,661	5,791
Notes receivable, net	17,942	19,419
Other assets	155	176
Total Assets	549,568	547,000
Liabilities
Accounts payable and accrued liabilities	10,880	13,723
Bonds, net	82,977	74,412
Notes payable and other debt	378,242	381,003
Operating lease liability	1,755	1,833
Other liabilities	9,979	10,892
Non-controlling interest redemption liability	15,593	15,753
Total Liabilities	499,426	497,616
Commitments and Contingencies (Note 8)
Equity
Common stock, $.0001 par value, 500,000,000 shares authorized, 6,365,856 shares issued and outstanding
Preferred stock, $.0001 par value, 100,000,000 shares authorized, 0 shares issued and outstanding
Additional paid in capital	5,792	5,792
Accumulated other comprehensive income	663	386
Retained earnings	1,403	1,608
Total Stockholders’ Equity	7,858	7,786
Non-controlling interest	42,284	41,598
Total Equity	50,142	49,384
Total Liabilities and Equity	$ 549,568	$ 547,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value per share	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	6,365,856	6,365,856
Common stock, shares outstanding	6,365,856	6,365,856
Preferred stock, par value per share	$ 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

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues
Rental revenues	$ 24,247	$ 22,959
Expenses:
Depreciation	6,231	6,526
Amortization	757	757
Loss on real estate investment impairment	2,451
General and administrative expenses	1,462	2,590
Property taxes	3,718	2,944
Facility rent expenses	136	131
Provision for doubtful accounts		250
Total expenses	14,755	13,198
Income from operations	9,492	9,761
Interest expense, net	(4,808)	(4,489)
Amortization of deferred financing costs	(130)	(57)
Mortgage insurance premium	(415)	(431)
Total interest expense	(5,353)	(4,977)
Other loss:
Foreign currency transaction loss		(10,100)
Net income (loss)	4,139	(5,316)
Less:
Net income (loss) attributable to non-controlling interest	3,644	(4,731)
Net income (loss) attributable to common stockholders	495	(585)
Other comprehensive income:
Unrealized gain on foreign currency translation	2,318	4,974
Reclassification of foreign currency transaction losses		10,100
Comprehensive income attributable to non-controlling interest	(2,041)	(13,416)
Comprehensive income	772	1,073
Net income (loss) attributable to common stockholders	$ 495	$ (585)
Basic and diluted income (loss) per common share	$ 0.08	$ (0.10)
Weighted average number of common shares outstanding	6,365,856	5,849,746

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) $ in Thousands	Total	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Common Stock [Member]
Balance at Dec. 31, 2021	$ 35,050	$ 4,327	$ (2,455)	$ 393	$ 32,785
Balance, shares at Dec. 31, 2021						5,849,746
Net change in foreign currency translation (unaudited)	15,074		1,658		13,416
Net income (loss)	(5,316)			(585)	(4,731)
Balance at Mar. 31, 2022	44,808	4,327	(797)	(192)	41,470
Balance, shares at Mar. 31, 2022						5,849,746
Balance at Dec. 31, 2022	49,384	5,792	386	1,608	41,598
Balance, shares at Dec. 31, 2022						6,365,856
Net change in foreign currency translation (unaudited)	2,318		277		2,041
Net income (loss)	4,139			495	3,644
Dividends (unaudited)	(700)			(700)
Non-controlling interest distributions (unaudited)	(4,999)				(4,999)
Balance at Mar. 31, 2023	$ 50,142	$ 5,792	$ 663	$ 1,403	$ 42,284
Balance, shares at Mar. 31, 2023						6,356,856

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net income (loss)	$ 4,139	$ (5,316)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	6,988	7,283
Amortization of bond issuance costs	45	250
Loss on real estate investment impairment	2,451
Amortization of deferred financing costs	130	57
Decrease (increase) in other assets	21	(4,261)
Amortization of right of use asset	78	73
Foreign currency transaction loss		10,100
Foreign currency translation adjustments	449	458
Increase in straight-line rent receivables	(491)	(494)
Decrease in accounts payable and accrued liabilities and other liabilities	(3,756)	(10,808)
Repayment of operating lease liability	(78)	(73)
Net cash provided by (used in) operating activities	9,976	(2,731)
Cash flow from investing activities:
Purchase of real estate investments	(6,000)
Principal payments of notes receivable	1,477	162
Net cash (used in) provided by investing activities	(4,523)	162
Cash flows from financing activities:
Proceeds from notes payable and other debt		104,102
Proceeds from issuance of bonds	10,389
Repayment of bonds		(91,768)
Repayment of notes payable and other debt	(2,761)	(23,702)
Partial repayment of non-controlling interest redemption liability	(160)
Payment of dividends	(700)
Non-controlling interest distributions	(4,999)
Net cash provided by (used in) financing activities	1,769	(11,368)
Increase (decrease) in cash and cash equivalents and restricted cash and equivalents	7,222	(13,937)
Cash and cash equivalents and restricted cash and equivalents at the beginning of the period	45,704	52,128
Cash and cash equivalents and restricted cash and equivalents at the end of the period	52,926	38,191
Supplemental Disclosure of Cash Flow Information:
Cash paid during the period for interest	6,078	7,723
Supplemental schedule of noncash investing activities:
Foreign currency translation adjustments	$ 2,318	$ 15,074

Business

Business	3 Months Ended
	Mar. 31, 2023
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. 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 11.95 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 cause the Operating Partnership to issue additional OP units in connection with property acquisitions, compensation or otherwise. The Company became a publicly traded entity on September 21, 2022. The Company is engaged in the ownership, acquisition, financing and triple-net leasing of skilled nursing facilities and other post-acute healthcare properties. The Company’s portfolio consists of 80 healthcare properties with an aggregate of 10,351 licensed beds. The Company holds fee title to 79 of these properties and holds one property under a long-term lease. These properties are located in Arkansas, Illinois, Indiana, Kentucky, Michigan, Ohio, Oklahoma, Tennessee and Texas. The Company generates substantially all of its revenues by leasing its properties to tenants under long-term leases primarily on a triple-net basis, under which the tenant pays the cost of real estate taxes, insurance and other operating costs of the facility and capital expenditures. Each healthcare facility located at its properties is managed by a qualified operator with an experienced management team. STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 1. Business (Cont.) Interim Condensed Consolidated Financial Statements The accompanying unaudited, condensed 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 Condensed 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 Condensed Consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the Company’s Condensed Consolidated financial position as of March 31, 2023, and the Condensed Consolidated results of operations and cash flows for the periods presented. The Condensed 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, 2023. 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 Condensed Consolidated balance sheet. 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 Condensed Consolidated balance sheets represents OP units not held by the Company and represents approximately 88.05 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”). STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2. Summary of Significant Accounting Policies Use of Estimates Management is required to make estimates and assumptions in the preparation of the Condensed 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 Condensed Consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from management’s estimates. Principles of Consolidation The accompanying Condensed Consolidated financial statements include the accounts of the Company and the Operating Partnership and its wholly-owned subsidiaries. Intercompany transactions and balances have been eliminated upon consolidation. 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 March 31, 2023 and December 31, 2022, the Company had $ 49.3 million 40.7 million 19.1 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. The Company considers the period of future benefit of an asset to determine its appropriate useful life. The Company does not incur expenditures for tenant improvements as they are the responsibility of the tenant per their respective leases. The Company anticipates the estimated useful lives of its assets by class to be generally as follows: Schedule of Assets Useful Lives Building and improvements 7 53 Equipment and personal property 1 14 STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONDENSED 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, the Company uses current appraisals or other third-party valuations. 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 the Company records 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. All of the Company’s acquisitions of investment properties qualified as asset acquisitions during the period ended on March 31, 2023. 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 the Company considers a lease to be non-performing after 60 days of non-payment of past due amounts and does 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 Condensed 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 reserve policy. If the lessee becomes delinquent in rent owed under the terms of the lease, the Company may provide a reserve against the recognized straight-line rent receivable asset for a portion, up to its full value, that the Company estimates may not be recoverable. STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONDENSED 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, 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. See Note 4 below. 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 NOTES TO CONDENSED 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. These financial instruments 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 monitors 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. On March 31, 2023, the Company held four notes receivable with an outstanding balance of $ 17.9 2 10.25 19.4 Market Concentration Risk As of March 31, 2023 and December 31, 2022, the Company owned 79 and 78 properties, respectively, and leased 1 property in 9 states, with 20 properties or 25.0% of its total properties located in Illinois (which include 4,226 skilled nursing beds or 40.83% of the Company’s total beds) and 15 properties or 18.8% of its total properties in Indiana (which include 1,388 skilled nursing beds or 13.41% 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 the Centers for Medicare & Medicaid Services, and the Department of Health and Aging in all states in which the Company operates 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 Condensed 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 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 2. Summary of Significant Accounting Policies (Cont.) Basic and Diluted Income (loss) Per Common Share The Company calculates basic income (loss) per common share by dividing net income (loss) attributable to common stockholders by the weighted average number of common shares outstanding during the period. At March 31, 2023, there were 46,890,421 OP units outstanding which were potentially dilutive securities. During the period ended March 31, 2023, the assumed conversion of the OP units had no impact on basic income (loss) per share. During the period ended March 31, 2022, potentially dilutive securities were excluded from the calculation of diluted loss per share due to the net loss incurred by the Company. 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 Condensed 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 Condensed 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 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 2. Summary of Significant Accounting Policies (Cont.) Real Estate Investments – Held for Sale On March 31, 2023, the Company had two properties included in real estate investments which were held for sale and carried at the lower of their net book value or fair value on a non-recurring basis on the Condensed Consolidated balance sheets. On December 31, 2022, the Company had one property included in real estate investments which was held for sale and carried at the lower of their net book value or fair value on a non-recurring basis on the Condensed Consolidated balance sheets. The Company’s real estate investments held for sale were classified as Level 3 of the fair value hierarchy. 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 Condensed 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, was not material to the Company’s Condensed Consolidated financial position and results of operations. STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Restricted Cash and Equivalents

Restricted Cash and Equivalents	3 Months Ended
	Mar. 31, 2023
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 March 31, December 31, 2023 2022 (amounts in $000’s) Escrow with trustee $ - $ 2,287 MIP escrow accounts 1,040 745 Other escrow and debt deposits 181 781 Property tax and insurance escrow 3,852 5,243 Interest and expense reserve bonds escrow 2,561 2,276 HUD replacement reserves 12,896 14,175 Total restricted cash and equivalents $ 20,530 $ 25,507 Escrow with trustee MIP escrow Other escrow and debt deposits Property tax and insurance escrow Interest and expense reserve bonds escrow - HUD replacement reserves

Real Estate Investments, net

Real Estate Investments, net	3 Months Ended
	Mar. 31, 2023
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 March 31, December 31, Useful Lives 2023 2022 (Years) (Amounts in $000’s) Buildings and improvements 7 53 $ 494,268 $ 495,215 Equipment and personal property 1 14 80,184 78,524 Land - 61,261 60,010 Real estate investments, gross 635,713 633,749 Less: accumulated depreciation (199,484 ) (194,838 ) Real estate investments, net $ 436,229 $ 438,911 For the three-month periods ended March 31, 2023 and 2022, total depreciation expense was $ 6.2 6.5 Acquisition of Properties On January 3, 2023, the Company acquired a property located in Kentucky for a total cost of $ 6.0 700,000 34,824 10 600,000 Other Properties In December 2022, the Company, through one of its subsidiaries, took title on a property in Massachusetts through a foreclosure. As of March 31, 2023, the property is carried at estimated fair value of $ 1.2 In February 2023, one facility under our Southern Illinois master lease was closed. The closure was a result of the tenant request and mainly for efficiency reasons. This facility is under a master lease with five other facilities and the rent payment is continuing with no interruption and at the same amount. As a result of the closure, the property is for sale. The Company has written off the remaining book value of this property and has recorded a loss on real estate investment impairment of approximately $ 2.5 STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Intangible Assets and Goodwill

Intangible Assets and Goodwill	3 Months Ended
	Mar. 31, 2023
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 Lease Rights Total (Amounts in $000’s) 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 - (757 ) (757 ) Balances, March 31, 2022 Gross 1,323 54,577 55,900 Accumulated amortization - (41,997 ) (41,997 ) Net carrying amount $ 1,323 $ 12,580 $ 13,903 Balances, December 31, 2022 Gross $ 1,323 $ 54,577 $ 55,900 Accumulated amortization - (44,268 ) (44,268 ) Net carrying amount 1,323 10,309 11,632 Amortization - (757 ) (757 ) Balances, March 31, 2023 Gross 1,323 54,577 55,900 Accumulated amortization - (45,025 ) (45,025 ) Net carrying amount $ 1,323 $ 9,552 $ 10,875 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) 2023 (nine months) 2,271 2024 3,028 2025 3,028 2026 675 2027 461 Thereafter 89 Total $ 9,552 STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Leases

Leases	3 Months Ended
	Mar. 31, 2023
Lessee Disclosure [Abstract]
Leases	NOTE 6. Leases As of March 31, 2023 and December 31, 2022, the Company had leased 83 facilities ( 80 79 i.e The following table provides additional information regarding the properties owned/leased by the Company for the periods indicated: Schedule of Properties Own and Leased Information March 31, December 31, 2023 2022 Cumulative number of facilities (properties) 83 80 ) 83 79 ) Cumulative number of operational beds 10,351 10,332 The following table provides additional information regarding the properties/facilities leased by the Company as of March 31, 2023: Schedule of Additional Information on Properties Facilities Leased State Number of Owned by Company Leased by Company Total Illinois 4,226 20 - 20 Indiana 1,388 14 1 15 Michigan 100 1 - 1 Ohio 238 4 - 4 Tennessee 1,056 12 - 12 Kentucky 1,165 11 - 11 Arkansas 1,568 14 - 14 Oklahoma 137 2 - 2 Texas 473 4 - 4 Total properties 10,351 82 1 83 Facility Type Skilled Nursing Facilities 10,189 77 1 78 Long-Term Acute Care Hospitals 63 2 - 2 Assisted Living Facility 99 3 - 3 Total facilities 10,351 82 1 83 As of March 31, 2023, total future minimum rental revenues for the Company’s tenants are as follows: Schedule of Future Minimum Rental Revenues Year Amount (Amounts in $000s) 2023 (nine month period) $ 62,658 2024 84,816 2025 75,152 2026 56,159 2026 56,453 Thereafter 183,789 Total $ 519,027 STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONDENSED 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 March 31, December 31, 2023 2022 Number of facilities leased and subleased to third-parties 1 1 Number of operational beds 68 68 Right of use assets and operating lease liabilities are disclosed as separate line items in the Condensed Consolidated balance sheets and are valued based on the present value of the future minimum lease payments at the lease commencement. As the Company’s leases do not provide an implicit rate, the Company used its incremental borrowing rate based on the information available at the adoption date in determining the present value of future payments. Lease expense is recognized on a straight-line basis over the lease term. The Company’s operating lease obligation is for one skilled nursing facility. The lease expires on March 1, 2028 and has two five-year renewal options The components of lease expense and other lease information are as follows (dollars in thousands): Schedule of Components of Lease Expense 2023 2022 Period ended March 31, 2023 2022 Operating lease cost $ 99 $ 97 March 31, 2023 December 31, 2022 Operating lease right of use asset $ 1,755 $ 1,833 Operating lease liability $ 1,755 $ 1,833 Weighted average remaining lease term-operating leases (in years) 5.00 5.25 Weighted average discount rate 4.1 % 4.1 % Future minimum operating lease payments under non-cancellable leases as of March 31, 2023, reconciled to the Company’s operating lease liability presented on the Condensed Consolidated balance sheets are: Schedule of Future Minimum Lease Payments On Non-Cancellable Leases (Amounts in $000s) 2023 (nine months period) $ 296 2024 395 2025 395 2026 395 2027 395 Thereafter 99 Total $ 1,975 Less Interest (220 ) Total operating lease liability $ 1,755 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 three-month periods ended March 31, 2023 and 2022, was $ 52,000 51,000

Notes Payable and Other Debt

Notes Payable and Other Debt	3 Months Ended
	Mar. 31, 2023
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 March 31, December 31, 2023 2023 2022 (Amounts in $000s) HUD guaranteed loans 3.23 % $ 273,904 $ 275,778 Bank loans 8.37 % 104,338 105,225 Series A and Series C Bonds 5.87 % 84,841 75,788 Gross Notes Payable and other Debt $ 463,083 $ 456,791 Debt issuance costs (1,864 ) (1,376 ) Net Notes Payable and other Debt $ 461,219 $ 455,415 STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONDENSED 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, 2023 (nine-month period) $ 25,712 2024 26,080 2025 16,139 2026 65,253 2027 102,494 Thereafter 227,405 Total $ 463,083 Debt Covenant Compliance As of March 31, 2023 and December 31, 2022, the Company was party to approximately 40 Bank loans/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 The facility provides for monthly payments of principal based on a 20-year amortization with a balloon payment due in March 2027 3.5 4 101.52 102.39 10.1 The 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 March 31, 2023 and December 31, 2022, the Company had HUD guaranteed mortgage loans from financial institutions of approximately $ 274 276 0.65 3.88 STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 7. Notes Payable and Other Debt (Cont.) Series A Bonds In November 2015, the Company, through a subsidiary, issued Series A Bonds in the face amount of NIS 265.2 251.2 64.3 30.1 6.4 7.4 Payment Terms 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 (means Strawberry Fields REIT, Ltd a wholly-owned subsidiary of the Operating Partnership organized under the laws of the British Virgin Islands) 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. Financial Covenants 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 Dividend Restrictions The indenture for the Series A 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 40 ● The ratio of the Condensed Consolidated stockholders’ equity of the BVI Company to its total Condensed 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 $ 120 ● The BVI Company meets the financial conditions described above, and the BVI Company is not in violation of all and/or any of its material undertakings to the holders of the Series A Bonds as of March 31, 2023. Increase in Interest Rate Additionally, the annual rate of interest on the Series A Bonds will increase by 0.25 1.25 6.4 Security 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 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 7. Notes Payable and Other Debt (cont.) Series A Bonds (cont.) Redemption Provisions The BVI Company may, at its discretion, call the Series A Bonds for early repayment. In the event of the redemption of all of the Series A Bonds, the BVI Company would be required to pay the highest of the following amounts: ● the market value of the balance of the Series A Bonds in circulation which will be determined based on the average closing price of the Series A 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 A Bonds available for early redemption in circulation (i.e., the principal balance of the Series A Bonds plus accrued interest until the date of the actual early redemption); or ● the balance of the payments under the Series A 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 2.5 Change of Control The holders of a majority of the Series A 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 A Bonds. For purposes of the Series A Bonds, the “controlling stockholders” of the BVI Company are deemed to be Moishe Gubin, Tira Gubin and Michael Blisko. 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)., “Control” is defined in the Israeli Companies Law. 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 40.00 11.3 10.73 38.1 95.25 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 on July 31 and January 31 of each year. 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 covenants are as follows: ● The stockholders’ equity of the BVI Company may not be less than $ 230 ● The ratio of the Condensed Consolidated stockholders’ equity of the BVI Company to its total Condensed 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 NOTES TO CONDENSED 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 BVI Company is not in violation of all and/or any of its material undertakings to the holders of the Series C Bonds as of March 31, 2023. Increase in Interest Rate In the event that: (i) the stockholders’ equity of the 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 C 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 NOTES TO CONDENSED 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 a maximum outstanding of NIS 630 174 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 NOTES TO CONDENSED 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.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
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 an 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 did not respond to the complaint. On January 11, 2023, the Cook County Circuit Court granting a motion to quash service on all defendants. In March 2023, the plaintiffs filed a new complaint and again attempted to serve it on the defendants. It is the defendants’ position that service was defective and they intend to take appropriate steps to challenge the service and to have the complaint again dismissed. STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONDENSED 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. The Company has 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. The Company 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. The Company believes 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 4.4

Equity Incentive Plan

Equity Incentive Plan	3 Months Ended
	Mar. 31, 2023
Retirement Benefits [Abstract]
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 As of March 31, 2023, 225,100 No STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Stockholders_ Equity and Distri

Stockholders’ Equity and Distributions	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Stockholders’ Equity and Distributions	NOTE 10. Stockholders’ Equity and Distributions The Company elected and qualified to be treated as a REIT commencing with the taxable year ended 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 March 31, 2023, there were a total of 6,365,856 864,240 At March 31, 2023, there were 46,890,421 In addition, the Company has reserved a total of 46,890,421

Related Party Transactions and

Related Party Transactions and Economic Dependence	3 Months Ended
	Mar. 31, 2023
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 CEO & Chairman of the Board and a stockholder of the Company Michael Blisko Director and a stockholder of the Company Nahman Eingal Chief Financial Officer and a stockholder of the Company Operating entities See list below Lease Agreements with Related Parties As of March 31, 2023 and December 31, 2022, each of the Company’s facilities was leased and operated by separate tenants. Each tenant is an entity that leases the facility from one of the Company’s subsidiaries and operates the facility as a healthcare facility. The Company had 41 tenants out of 83 who were related parties as of March 31, 2023, and December 31, 2022. Most of the lease agreements are triple net leases. STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONDENSED 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 as of March 31, 2023: Schedule of Related Party Transactions (1)(2) (1) (2) Related Party Ownership in (1) (2) State Lessor / Tenant /Operator Moishe Gubin /Gubin Enterprises LP Michael Blisko /Blisko Enterprises LP 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 49.24 % 50.25 % $ 1,045,506 3.00 % 1.27 % 8/1/2025 2 five year IN 12803 Lenover Street Realty LLC The Waters of Dillsboro – Ross Manor II LLC 49.24 % 50.25 % 1,353,655 3.00 % 1.64 % 8/1/2025 2 five year IN 1350 North Todd Drive Realty, LLC The Waters of Scottsburg II LLC 49.24 % 50.25 % 1,089,527 3.00 % 1.32 % 8/1/2025 2 five year IN 1600 East Liberty Street Realty LLC The Waters of Covington II LLC 49.24 % 50.25 % 1,309,634 3.00 % 1.59 % 8/1/2025 2 five year IN 1601 Hospital Drive Realty LLC The Waters of Greencastle II LLC 49.24 % 50.25 % 1,100,532 3.00 % 1.33 % 8/1/2025 2 five year IN 1712 Leland Drive Realty, LLC The Waters of Huntingburg II LLC 49.24 % 50.25 % 1,045,506 3.00 % 1.27 % 8/1/2025 2 five year IN 2055 Heritage Drive Realty LLC The Waters of Martinsville II LLC 49.24 % 50.25 % 1,133,548 3.00 % 1.37 % 8/1/2025 2 five year IN 3895 South Keystone Avenue Realty LLC The Waters of Indianapolis II LLC 49.24 % 50.25 % 891,431 3.00 % 1.08 % 8/1/2025 2 five year IN 405 Rio Vista Lane Realty LLC The Waters of Rising Sun II LLC 49.24 % 50.25 % 638,309 3.00 % 0.77 % 8/1/2025 2 five year IN 950 Cross Avenue Realty LLC The Waters of Clifty Falls II LLC 49.24 % 50.25 % 1,518,735 3.00 % 1.84 % 8/1/2025 2 five year IN 958 East Highway 46 Realty LLC The Waters of Batesville II LLC 49.24 % 50.25 % 946,458 3.00 % 1.14 % 8/1/2025 2 five year IN 2400 Chateau Drive Realty, LLC The Waters of Muncie II LLC 49.24 % 50.25 % 792,383 3.00 % 0.96 % 8/1/2025 2 five year IN The Big H2O LLC The Waters of New Castle II LLC 49.24 % 50.25 % 726,351 3.00 % 0.88 % 8/1/2025 2 five year STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 11. Related Party Transactions and Economic Dependence (cont.) Lease Agreements with Related Parties (cont.) (1)(2) (1) (2) Related Party Ownership in (1) (2) State Lessor / Tenant /Operator Moishe Gubin /Gubin Enterprises LP Michael Blisko /Blisko Enterprises LP 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 50.00 % 50.00 % 1,514,820 3.00 % 1.84 % 8/1/2031 2 five year TN 146 Buck Creek Road, LLC The Waters of Roan Highlands, LLC 50.00 % 50.00 % 1,111,794 3.00 % 1.35 % 8/1/2031 2 five year TN 704 5 th The Waters of Springfield, LLC 50.00 % 50.00 % 917,230 3.00 % 1.11 % 8/1/2031 2 five year TN 2501 River Road, LLC The Waters of Cheatham, LLC 50.00 % 50.00 % 1,111,794 3.00 % 1.35 % 8/1/2031 2 five year TN 202 Enon Springs Road East, LLC The Waters of Smyrna, LLC 50.00 % 50.00 % 1,264,666 3.00 % 1.53 % 8/1/2031 2 five year TN 140 Technology Lane, LLC The Waters of Johnson City, LLC 50.00 % 50.00 % 1,167,384 3.00 % 1.41 % 8/1/2031 2 five year TN 835 Union Street, LLC The Waters of Shelbyville, LLC 50.00 % 50.00 % 1,334,153 3.00 % 1.62 % 8/1/2031 2 five year Master Lease Tennessee 2 TN 505 North Roan, LLC Agape Rehabilitation & Nursing Center, A Water’s Community LLC 50.00 % 50.00 % 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 50.00 % 50.00 % 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 50.00 % 50.00 % 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 50.00 % 50.00 % 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 50.00 % 50.00 % 2,327,014 3.00 % 2.82 % 7/1/2031 2 five year STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 11. Related Party Transactions and Economic Dependence (cont.) Lease Agreements with Related Parties (cont.) Related Party Ownership in Manager/Tenant/Operator (1) (2) State Lessor/ Company Subsidiary Manager/Tenant/ Operator Moishe Gubin/Gubin Enterprises LP Michael Blisko/Blisko Enterprises LP Average Annual rent over life of lease Annual Escalation % of total rent Lease maturity Extension options IL 516 West Frech Street, LLC Parker Rehab & Nursing Center, LLC 50.00% 50.00 % 498,350 Varies between $12,000 and $24,000 annually 0.60 % 3/31/2031 None IN 1316 North Tibbs Avenue Realty, LLC Westpark A Waters Community, LLC 50.00% 50.00 % 549,884 3.00 % 0.67 % 6/1/2024 2 five year IL Ambassador Nursing Realty, LLC Ambassador Nursing and Rehabilitation Center II, LLC 40.00% 40.00 % 1,005,313 3.00 % 1.22 % 2/28/2026 2 five year IL Momence Meadows Realty, LLC Momence Meadows Nursing and Rehabilitation Center, LLC 50.00% 50.00 % 1,038,000 None 1.26 % 12/30/2025 None IL Oak Lawn Nursing Realty, LLC Oak Lawn Respiratory and Rehabilitation Center, LLC ( 3 ) 50.00% 50.00 % 1,083,048 None 1.31 % 6/1/2031 None IL Forest View Nursing Realty, LLC Forest View Rehabilitation and Nursing Center, LLC 50.00% 50.00 % 1,215,483 3.00 % 1.47 % 12/1/2024 2 five year IL Lincoln Park Holdings, LLC Lakeview Rehabilitation and Nursing Center, LLC 40.00% 40.00 % 1,260,000 None 1.53 % 5/31/2031 None IL Continental Nursing Realty, LLC Continental Nursing and Rehabilitation Center, LLC 40.00% 40.00 % 1,575,348 None 1.91 % 3/1/2031 None IL Westshire Nursing Realty, LLC City View Multicare Center, LLC 50.00% 50.00 % 1,788,365 3.00 % 2.17 % 9/1/2025 2 five year IL Belhaven Realty, LLC Belhaven Nursing and Rehabilitation Center, LLC 50.00% 50.00 % 2,134,570 3.00 % 2.59 % 2/28/2026 2 five year IL West Suburban Nursing Realty, LLC West Suburban Nursing and Rehabilitation Center, LLC 40.00% 40.00 % 1,961,604 None 2.38 % 11/1/2027 None IN 1585 Perry Worth Road, LLC The Waters of Lebanon, LLC 50.00% 50.00 % 116,676 3.00 % 0.14 % 6/1/2027 2 five year IL Niles Nursing Realty LLC Niles Nursing & Rehabilitation Center LLC 50.00% 50.00 % 2,409,998 3.00 % 2.92 % 2/28/2026 2 five year IL Parkshore Estates Nursing Realty, LLC Parkshore Estates Nursing and Rehabilitation Center, LLC 50.00% 50.00 % 2,454,187 3.00 % 2.97 % 12/1/2024 2 five year IL Midway Neurological and Rehabilitation Realty, LLC Midway Neurological and Rehabilitation Center, LLC 50.00% 50.00 % 2,547,712 3.00 % 3.09 % 2/28/2026 2 five year IL 4343 Kennedy Drive, LLC Hope Creek Nursing and Rehabilitation Center, LLC 27.50% 27.50 % 478,958 3.00 % 0.58 % 10/1/2030 2 five year STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 11. Related Party Transactions and Economic Dependence (cont.) Lease Agreements with Related Parties (cont.) (1) The interests of the two 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. (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. (3) We are expecting to re-tenant this facility to a non-affiliated tenant with a new triple net lease. . There will be no material change to the rent payment the Company will receive. Guarantees from Related Parties As of March 31, 2023 and December 31, 2022 Mr. Gubin and Mr. Blisko were not parties to any guarantees of any debt of the Company and its subsidiaries. Balances with Related Parties Schedule of Balances with Related Parties March 31, 2023 December 31, 2022 (amounts in $000s) Straight-line rent receivable $ 13,143 $ 11,591 Tenant portion of replacement reserve $ 9,245 $ 10,227 Notes receivable $ 7,634 $ 7,816 Payments from and to Related Parties Schedule of Payments From and to Related Parties Three Months ended 2023 2022 (amounts in $000s) Rental income received from related parties $ 11,838 $ 7,951 Other Related Party Relationships On March 31, 2023 and December 31, 2022, the Company had approximately $ 5.2 4.7 On June 14, 2022, the Company purchased an $ 8 7% STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 12. Income Taxes The Company elected and qualified to be taxed as a REIT for federal income tax purposes commencing with the year ended December 31, 2022. As a REIT, the Company generally is not 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. The Company follows 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. STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	NOTE 13. Fair Value of Financial Instruments The Company is 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 payable and accrued expenses approximate their carrying value on the Condensed Consolidated balance sheets due to their short-term nature. The Company’s foreclosed real estate is recorded at fair value on a non-recurring basis and is included in real estate investments on the Condensed Consolidated balance sheets. Estimates of fair value are determined based on a variety of information, including the use of available appraisals, estimates of market values by licensed appraisers or local real estate brokers and knowledge and experience of management. The fair values of the Company’s remaining financial instruments that are not reported at fair value on the Condensed Consolidated balance sheets are reported below: Schedule of Fair Value on the Consolidated Balance Sheets March 31, 2023 December 31, 2022 (amounts in $000s) Level Carrying Fair Value Carrying Fair Value Note payable, other debt, and bonds 3 $ 461,219 $ 460,468 $ 455,415 $ 454,523 Notes receivable 3 $ 17,942 $ 16,701 $ 19,419 $ 18,479 The fair value of the notes payable, other debt, bonds and notes receivable are estimated using a discounted cash flow analysis.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	NOTE 14. Subsequent Events On May 1, 2023, the Company paid $ 15,593,000 to redeem 1,454,308 On May 9, 2023 our Board of Directors approved a dividend distribution of $ 0.11

Financing Income (Expenses), Ne

Financing Income (Expenses), Net	3 Months Ended
	Mar. 31, 2023
Other Income and Expenses [Abstract]
Financing Income (Expenses), Net	NOTE 15. Financing Income (Expenses), Net Schedule of Financing Income (Expenses), Net 2023 2022 Three months ended 2023 2022 (amounts in $000s) Financing expenses Interest expenses with respect to bonds $ (1,214 ) $ (2,170 ) Interest expenses on loans from banks and others (3,858 ) (1,780 ) Interest expenses with respect to leases (19 ) (21 ) Other financing expenses (including related parties), net - (669 ) Total financing expenses $ (5,091 ) (4,640 ) Financing income $ 283 151 Interest Expense, Net $ (4,808 ) (4,489 )

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates Management is required to make estimates and assumptions in the preparation of the Condensed 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 Condensed Consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from management’s estimates.
Principles of Consolidation	Principles of Consolidation The accompanying Condensed Consolidated financial statements include the accounts of the Company and the Operating Partnership and its wholly-owned subsidiaries. Intercompany transactions and balances have been eliminated upon consolidation.
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 March 31, 2023 and December 31, 2022, the Company had $ 49.3 million 40.7 million 19.1
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. The Company considers the period of future benefit of an asset to determine its appropriate useful life. The Company does not incur expenditures for tenant improvements as they are the responsibility of the tenant per their respective leases. The Company anticipates the estimated useful lives of its assets by class to be generally as follows: Schedule of Assets Useful Lives Building and improvements 7 53 Equipment and personal property 1 14 STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONDENSED 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, the Company uses current appraisals or other third-party valuations. 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 the Company records 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. All of the Company’s acquisitions of investment properties qualified as asset acquisitions during the period ended on March 31, 2023.
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 the Company considers a lease to be non-performing after 60 days of non-payment of past due amounts and does 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 Condensed 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 reserve policy. If the lessee becomes delinquent in rent owed under the terms of the lease, the Company may provide a reserve against the recognized straight-line rent receivable asset for a portion, up to its full value, that the Company estimates may not be recoverable. STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONDENSED 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, 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. See Note 4 below. 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 NOTES TO CONDENSED 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. These financial instruments 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 monitors 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. On March 31, 2023, the Company held four notes receivable with an outstanding balance of $ 17.9 2 10.25 19.4
Market Concentration Risk	Market Concentration Risk As of March 31, 2023 and December 31, 2022, the Company owned 79 and 78 properties, respectively, and leased 1 property in 9 states, with 20 properties or 25.0% of its total properties located in Illinois (which include 4,226 skilled nursing beds or 40.83% of the Company’s total beds) and 15 properties or 18.8% of its total properties in Indiana (which include 1,388 skilled nursing beds or 13.41% 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 the Centers for Medicare & Medicaid Services, and the Department of Health and Aging in all states in which the Company operates
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 Condensed 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 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 2. Summary of Significant Accounting Policies (Cont.)
Basic and Diluted Income (loss) Per Common Share	Basic and Diluted Income (loss) Per Common Share The Company calculates basic income (loss) per common share by dividing net income (loss) attributable to common stockholders by the weighted average number of common shares outstanding during the period. At March 31, 2023, there were 46,890,421 OP units outstanding which were potentially dilutive securities. During the period ended March 31, 2023, the assumed conversion of the OP units had no impact on basic income (loss) per share. During the period ended March 31, 2022, potentially dilutive securities were excluded from the calculation of diluted loss per share due to the net loss incurred by the Company.
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 Condensed 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 Condensed 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 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 2. Summary of Significant Accounting Policies (Cont.)
Real Estate Investments – Held for Sale	Real Estate Investments – Held for Sale On March 31, 2023, the Company had two properties included in real estate investments which were held for sale and carried at the lower of their net book value or fair value on a non-recurring basis on the Condensed Consolidated balance sheets. On December 31, 2022, the Company had one property included in real estate investments which was held for sale and carried at the lower of their net book value or fair value on a non-recurring basis on the Condensed Consolidated balance sheets. The Company’s real estate investments held for sale were classified as Level 3 of the fair value hierarchy.
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 Condensed 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, was not material to the Company’s Condensed Consolidated financial position and results of operations.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Schedule of Assets Useful Lives	Schedule of Assets Useful Lives Building and improvements 7 53 Equipment and personal property 1 14

Restricted Cash and Equivalen_2

Restricted Cash and Equivalents (Tables)	3 Months Ended
	Mar. 31, 2023
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 March 31, December 31, 2023 2022 (amounts in $000’s) Escrow with trustee $ - $ 2,287 MIP escrow accounts 1,040 745 Other escrow and debt deposits 181 781 Property tax and insurance escrow 3,852 5,243 Interest and expense reserve bonds escrow 2,561 2,276 HUD replacement reserves 12,896 14,175 Total restricted cash and equivalents $ 20,530 $ 25,507

Real Estate Investments, net (T

Real Estate Investments, net (Tables)	3 Months Ended
	Mar. 31, 2023
Real Estate [Abstract]
Schedule of Real Estate Investment	Real estate investments consist of the following: Schedule of Real Estate Investment Estimated March 31, December 31, Useful Lives 2023 2022 (Years) (Amounts in $000’s) Buildings and improvements 7 53 $ 494,268 $ 495,215 Equipment and personal property 1 14 80,184 78,524 Land - 61,261 60,010 Real estate investments, gross 635,713 633,749 Less: accumulated depreciation (199,484 ) (194,838 ) Real estate investments, net $ 436,229 $ 438,911

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	3 Months Ended
	Mar. 31, 2023
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 Lease Rights Total (Amounts in $000’s) 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 - (757 ) (757 ) Balances, March 31, 2022 Gross 1,323 54,577 55,900 Accumulated amortization - (41,997 ) (41,997 ) Net carrying amount $ 1,323 $ 12,580 $ 13,903 Balances, December 31, 2022 Gross $ 1,323 $ 54,577 $ 55,900 Accumulated amortization - (44,268 ) (44,268 ) Net carrying amount 1,323 10,309 11,632 Amortization - (757 ) (757 ) Balances, March 31, 2023 Gross 1,323 54,577 55,900 Accumulated amortization - (45,025 ) (45,025 ) Net carrying amount $ 1,323 $ 9,552 $ 10,875
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) 2023 (nine months) 2,271 2024 3,028 2025 3,028 2026 675 2027 461 Thereafter 89 Total $ 9,552

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2023
Lessee Disclosure [Abstract]
Schedule of Properties Own and Leased Information	The following table provides additional information regarding the properties owned/leased by the Company for the periods indicated: Schedule of Properties Own and Leased Information March 31, December 31, 2023 2022 Cumulative number of facilities (properties) 83 80 ) 83 79 ) Cumulative number of operational beds 10,351 10,332
Schedule of Additional Information on Properties Facilities Leased	The following table provides additional information regarding the properties/facilities leased by the Company as of March 31, 2023: Schedule of Additional Information on Properties Facilities Leased State Number of Owned by Company Leased by Company Total Illinois 4,226 20 - 20 Indiana 1,388 14 1 15 Michigan 100 1 - 1 Ohio 238 4 - 4 Tennessee 1,056 12 - 12 Kentucky 1,165 11 - 11 Arkansas 1,568 14 - 14 Oklahoma 137 2 - 2 Texas 473 4 - 4 Total properties 10,351 82 1 83 Facility Type Skilled Nursing Facilities 10,189 77 1 78 Long-Term Acute Care Hospitals 63 2 - 2 Assisted Living Facility 99 3 - 3 Total facilities 10,351 82 1 83
Schedule of Future Minimum Rental Revenues	As of March 31, 2023, total future minimum rental revenues for the Company’s tenants are as follows: Schedule of Future Minimum Rental Revenues Year Amount (Amounts in $000s) 2023 (nine month period) $ 62,658 2024 84,816 2025 75,152 2026 56,159 2026 56,453 Thereafter 183,789 Total $ 519,027
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 March 31, December 31, 2023 2022 Number of facilities leased and subleased to third-parties 1 1 Number of operational beds 68 68
Schedule of Components of Lease Expense	The components of lease expense and other lease information are as follows (dollars in thousands): Schedule of Components of Lease Expense 2023 2022 Period ended March 31, 2023 2022 Operating lease cost $ 99 $ 97 March 31, 2023 December 31, 2022 Operating lease right of use asset $ 1,755 $ 1,833 Operating lease liability $ 1,755 $ 1,833 Weighted average remaining lease term-operating leases (in years) 5.00 5.25 Weighted average discount rate 4.1 % 4.1 %
Schedule of Future Minimum Lease Payments On Non-Cancellable Leases	Future minimum operating lease payments under non-cancellable leases as of March 31, 2023, reconciled to the Company’s operating lease liability presented on the Condensed Consolidated balance sheets are: Schedule of Future Minimum Lease Payments On Non-Cancellable Leases (Amounts in $000s) 2023 (nine months period) $ 296 2024 395 2025 395 2026 395 2027 395 Thereafter 99 Total $ 1,975 Less Interest (220 ) Total operating lease liability $ 1,755

Notes Payable and Other Debt (T

Notes Payable and Other Debt (Tables)	3 Months Ended
	Mar. 31, 2023
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 March 31, December 31, 2023 2023 2022 (Amounts in $000s) HUD guaranteed loans 3.23 % $ 273,904 $ 275,778 Bank loans 8.37 % 104,338 105,225 Series A and Series C Bonds 5.87 % 84,841 75,788 Gross Notes Payable and other Debt $ 463,083 $ 456,791 Debt issuance costs (1,864 ) (1,376 ) Net Notes Payable and other Debt $ 461,219 $ 455,415
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, 2023 (nine-month period) $ 25,712 2024 26,080 2025 16,139 2026 65,253 2027 102,494 Thereafter 227,405 Total $ 463,083

Related Party Transactions an_2

Related Party Transactions and Economic Dependence (Tables)	3 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
Schedule of Balances with Related Parties	The following table sets forth details of the lease agreements in force between the Company and its subsidiaries and lessees that are related parties as of March 31, 2023: Schedule of Related Party Transactions (1)(2) (1) (2) Related Party Ownership in (1) (2) State Lessor / Tenant /Operator Moishe Gubin /Gubin Enterprises LP Michael Blisko /Blisko Enterprises LP 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 49.24 % 50.25 % $ 1,045,506 3.00 % 1.27 % 8/1/2025 2 five year IN 12803 Lenover Street Realty LLC The Waters of Dillsboro – Ross Manor II LLC 49.24 % 50.25 % 1,353,655 3.00 % 1.64 % 8/1/2025 2 five year IN 1350 North Todd Drive Realty, LLC The Waters of Scottsburg II LLC 49.24 % 50.25 % 1,089,527 3.00 % 1.32 % 8/1/2025 2 five year IN 1600 East Liberty Street Realty LLC The Waters of Covington II LLC 49.24 % 50.25 % 1,309,634 3.00 % 1.59 % 8/1/2025 2 five year IN 1601 Hospital Drive Realty LLC The Waters of Greencastle II LLC 49.24 % 50.25 % 1,100,532 3.00 % 1.33 % 8/1/2025 2 five year IN 1712 Leland Drive Realty, LLC The Waters of Huntingburg II LLC 49.24 % 50.25 % 1,045,506 3.00 % 1.27 % 8/1/2025 2 five year IN 2055 Heritage Drive Realty LLC The Waters of Martinsville II LLC 49.24 % 50.25 % 1,133,548 3.00 % 1.37 % 8/1/2025 2 five year IN 3895 South Keystone Avenue Realty LLC The Waters of Indianapolis II LLC 49.24 % 50.25 % 891,431 3.00 % 1.08 % 8/1/2025 2 five year IN 405 Rio Vista Lane Realty LLC The Waters of Rising Sun II LLC 49.24 % 50.25 % 638,309 3.00 % 0.77 % 8/1/2025 2 five year IN 950 Cross Avenue Realty LLC The Waters of Clifty Falls II LLC 49.24 % 50.25 % 1,518,735 3.00 % 1.84 % 8/1/2025 2 five year IN 958 East Highway 46 Realty LLC The Waters of Batesville II LLC 49.24 % 50.25 % 946,458 3.00 % 1.14 % 8/1/2025 2 five year IN 2400 Chateau Drive Realty, LLC The Waters of Muncie II LLC 49.24 % 50.25 % 792,383 3.00 % 0.96 % 8/1/2025 2 five year IN The Big H2O LLC The Waters of New Castle II LLC 49.24 % 50.25 % 726,351 3.00 % 0.88 % 8/1/2025 2 five year STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 11. Related Party Transactions and Economic Dependence (cont.) Lease Agreements with Related Parties (cont.) (1)(2) (1) (2) Related Party Ownership in (1) (2) State Lessor / Tenant /Operator Moishe Gubin /Gubin Enterprises LP Michael Blisko /Blisko Enterprises LP 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 50.00 % 50.00 % 1,514,820 3.00 % 1.84 % 8/1/2031 2 five year TN 146 Buck Creek Road, LLC The Waters of Roan Highlands, LLC 50.00 % 50.00 % 1,111,794 3.00 % 1.35 % 8/1/2031 2 five year TN 704 5 th The Waters of Springfield, LLC 50.00 % 50.00 % 917,230 3.00 % 1.11 % 8/1/2031 2 five year TN 2501 River Road, LLC The Waters of Cheatham, LLC 50.00 % 50.00 % 1,111,794 3.00 % 1.35 % 8/1/2031 2 five year TN 202 Enon Springs Road East, LLC The Waters of Smyrna, LLC 50.00 % 50.00 % 1,264,666 3.00 % 1.53 % 8/1/2031 2 five year TN 140 Technology Lane, LLC The Waters of Johnson City, LLC 50.00 % 50.00 % 1,167,384 3.00 % 1.41 % 8/1/2031 2 five year TN 835 Union Street, LLC The Waters of Shelbyville, LLC 50.00 % 50.00 % 1,334,153 3.00 % 1.62 % 8/1/2031 2 five year Master Lease Tennessee 2 TN 505 North Roan, LLC Agape Rehabilitation & Nursing Center, A Water’s Community LLC 50.00 % 50.00 % 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 50.00 % 50.00 % 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 50.00 % 50.00 % 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 50.00 % 50.00 % 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 50.00 % 50.00 % 2,327,014 3.00 % 2.82 % 7/1/2031 2 five year STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 11. Related Party Transactions and Economic Dependence (cont.) Lease Agreements with Related Parties (cont.) Related Party Ownership in Manager/Tenant/Operator (1) (2) State Lessor/ Company Subsidiary Manager/Tenant/ Operator Moishe Gubin/Gubin Enterprises LP Michael Blisko/Blisko Enterprises LP Average Annual rent over life of lease Annual Escalation % of total rent Lease maturity Extension options IL 516 West Frech Street, LLC Parker Rehab & Nursing Center, LLC 50.00% 50.00 % 498,350 Varies between $12,000 and $24,000 annually 0.60 % 3/31/2031 None IN 1316 North Tibbs Avenue Realty, LLC Westpark A Waters Community, LLC 50.00% 50.00 % 549,884 3.00 % 0.67 % 6/1/2024 2 five year IL Ambassador Nursing Realty, LLC Ambassador Nursing and Rehabilitation Center II, LLC 40.00% 40.00 % 1,005,313 3.00 % 1.22 % 2/28/2026 2 five year IL Momence Meadows Realty, LLC Momence Meadows Nursing and Rehabilitation Center, LLC 50.00% 50.00 % 1,038,000 None 1.26 % 12/30/2025 None IL Oak Lawn Nursing Realty, LLC Oak Lawn Respiratory and Rehabilitation Center, LLC ( 3 ) 50.00% 50.00 % 1,083,048 None 1.31 % 6/1/2031 None IL Forest View Nursing Realty, LLC Forest View Rehabilitation and Nursing Center, LLC 50.00% 50.00 % 1,215,483 3.00 % 1.47 % 12/1/2024 2 five year IL Lincoln Park Holdings, LLC Lakeview Rehabilitation and Nursing Center, LLC 40.00% 40.00 % 1,260,000 None 1.53 % 5/31/2031 None IL Continental Nursing Realty, LLC Continental Nursing and Rehabilitation Center, LLC 40.00% 40.00 % 1,575,348 None 1.91 % 3/1/2031 None IL Westshire Nursing Realty, LLC City View Multicare Center, LLC 50.00% 50.00 % 1,788,365 3.00 % 2.17 % 9/1/2025 2 five year IL Belhaven Realty, LLC Belhaven Nursing and Rehabilitation Center, LLC 50.00% 50.00 % 2,134,570 3.00 % 2.59 % 2/28/2026 2 five year IL West Suburban Nursing Realty, LLC West Suburban Nursing and Rehabilitation Center, LLC 40.00% 40.00 % 1,961,604 None 2.38 % 11/1/2027 None IN 1585 Perry Worth Road, LLC The Waters of Lebanon, LLC 50.00% 50.00 % 116,676 3.00 % 0.14 % 6/1/2027 2 five year IL Niles Nursing Realty LLC Niles Nursing & Rehabilitation Center LLC 50.00% 50.00 % 2,409,998 3.00 % 2.92 % 2/28/2026 2 five year IL Parkshore Estates Nursing Realty, LLC Parkshore Estates Nursing and Rehabilitation Center, LLC 50.00% 50.00 % 2,454,187 3.00 % 2.97 % 12/1/2024 2 five year IL Midway Neurological and Rehabilitation Realty, LLC Midway Neurological and Rehabilitation Center, LLC 50.00% 50.00 % 2,547,712 3.00 % 3.09 % 2/28/2026 2 five year IL 4343 Kennedy Drive, LLC Hope Creek Nursing and Rehabilitation Center, LLC 27.50% 27.50 % 478,958 3.00 % 0.58 % 10/1/2030 2 five year STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 11. Related Party Transactions and Economic Dependence (cont.) Lease Agreements with Related Parties (cont.) (1) The interests of the two 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. (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. (3) We are expecting to re-tenant this facility to a non-affiliated tenant with a new triple net lease. . There will be no material change to the rent payment the Company will receive. Guarantees from Related Parties As of March 31, 2023 and December 31, 2022 Mr. Gubin and Mr. Blisko were not parties to any guarantees of any debt of the Company and its subsidiaries. Balances with Related Parties Schedule of Balances with Related Parties March 31, 2023 December 31, 2022 (amounts in $000s) Straight-line rent receivable $ 13,143 $ 11,591 Tenant portion of replacement reserve $ 9,245 $ 10,227 Notes receivable $ 7,634 $ 7,816
Schedule of Balances with Related Parties	Balances with Related Parties Schedule of Balances with Related Parties March 31, 2023 December 31, 2022 (amounts in $000s) Straight-line rent receivable $ 13,143 $ 11,591 Tenant portion of replacement reserve $ 9,245 $ 10,227 Notes receivable $ 7,634 $ 7,816
Schedule of Payments From and to Related Parties	Payments from and to Related Parties Schedule of Payments From and to Related Parties Three Months ended 2023 2022 (amounts in $000s) Rental income received from related parties $ 11,838 $ 7,951

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value on the Consolidated Balance Sheets	Schedule of Fair Value on the Consolidated Balance Sheets March 31, 2023 December 31, 2022 (amounts in $000s) Level Carrying Fair Value Carrying Fair Value Note payable, other debt, and bonds 3 $ 461,219 $ 460,468 $ 455,415 $ 454,523 Notes receivable 3 $ 17,942 $ 16,701 $ 19,419 $ 18,479

Financing Income (Expenses), _2

Financing Income (Expenses), Net (Tables)	3 Months Ended
	Mar. 31, 2023
Other Income and Expenses [Abstract]
Schedule of Financing Income (Expenses), Net	Schedule of Financing Income (Expenses), Net 2023 2022 Three months ended 2023 2022 (amounts in $000s) Financing expenses Interest expenses with respect to bonds $ (1,214 ) $ (2,170 ) Interest expenses on loans from banks and others (3,858 ) (1,780 ) Interest expenses with respect to leases (19 ) (21 ) Other financing expenses (including related parties), net - (669 ) Total financing expenses $ (5,091 ) (4,640 ) Financing income $ 283 151 Interest Expense, Net $ (4,808 ) (4,489 )

Business (Details Narrative)

Business (Details Narrative)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Jun. 08, 2021
Non-controlling interest operatiing percentage.	88.05%	88.05%
Strawberry Fields Realty LP [Member]
Beneficial ownership limitation percentage			9.80%
Strawberry Fields Realty LP [Member] | Minimum [Member]
Equity method investment ownership percentage	11.95%	11.95%

Schedule of Assets Useful Lives

Schedule of Assets Useful Lives (Details)	Mar. 31, 2023
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] | 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

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Narrative) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Cash	$ 49.3	$ 40.7
Increase decrease rent percentage	1%
Notes receivable balance outstanding	$ 17.9	$ 19.4
Market concentration risk description	As of March 31, 2023 and December 31, 2022, the Company owned 79 and 78 properties, respectively, and leased 1 property in 9 states, with 20 properties or 25.0% of its total properties located in Illinois (which include 4,226 skilled nursing beds or 40.83% of the Company’s total beds) and 15 properties or 18.8% of its total properties in Indiana (which include 1,388 skilled nursing beds or 13.41% 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 the Centers for Medicare & Medicaid Services, and the Department of Health and Aging in all states in which the Company operates
Maximum [Member]
Property, Plant and Equipment [Line Items]
Increase decrease rent percentage	3%
Notes receivable interest rate	10.25%
Minimum [Member]
Property, Plant and Equipment [Line Items]
Notes receivable interest rate	2%
Cash and Cash Equivalents [Member]
Property, Plant and Equipment [Line Items]
Cash	$ 19.1

Schedule of Restricted Cash and

Schedule of Restricted Cash and Equivalents and Escrow Deposits (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Total restricted cash and equivalents	$ 20,530	$ 25,507
Escrow with Trustee [Member]
Total restricted cash and equivalents		2,287
MIP Escrow with Accounts [Member]
Total restricted cash and equivalents	1,040	745
Other Escrow and Debt Deposite [Member]
Total restricted cash and equivalents	181	781
Property Tax and Insurance Escrow [Member]
Total restricted cash and equivalents	3,852	5,243
Interest Reserve Bonds Escrow [Member]
Total restricted cash and equivalents	2,561	2,276
HUD Replacement Reserves [Member]
Total restricted cash and equivalents	$ 12,896	$ 14,175

Schedule of Real Estate Investm

Schedule of Real Estate Investment (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Real Estate [Line Items]
Real estate investments, gross	$ 635,713	$ 633,749
Less: accumulated depreciation	(199,484)	(194,838)
Real estate investments, net	436,229	438,911
Building [Member]
Real Estate [Line Items]
Real estate investments, gross	$ 494,268	495,215
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	$ 80,184	78,524
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	$ 61,261	$ 60,010

Real Estate Investments, net (D

Real Estate Investments, net (Details Narrative)		3 Months Ended
	Jan. 03, 2023 USD ($) ft²	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Depreciation		$ 6,231,000	$ 6,526,000
Payments to acquire commercial real estate	$ 6,000,000
Leasehold Improvements, Gross	$ 700,000
Area of Land | ft²	34,824
Lessee, Operating Lease, Term of Contract	10 years
Payments for Rent	$ 600,000	52,000	51,000
Property Estimated fair value		436,229,000		$ 438,911,000
MASSACHUSETTS
Property Estimated fair value		1,200,000
Southern Illinois [Member]
Property Estimated fair value		2,500,000
Real Estate Investment [Member]
Depreciation		$ 6,200,000	$ 6,500,000

Schedule of Intangible Assets a

Schedule of Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross	$ 55,900	$ 55,900	$ 55,900	$ 55,900
Accumulated amortization	(45,025)	(44,268)	(41,997)	(41,240)
Net carrying amount	10,875	11,632	13,903	14,660
Amortization		(757)		(757)
Goodwill Including CON Licenses [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	(45,025)	(44,268)	(41,997)	(41,240)
Net carrying amount	$ 9,552	10,309	$ 12,580	13,337
Amortization		$ (757)		$ (757)

Schedule of Estimated Amortizat

Schedule of Estimated Amortization Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Total	$ 10,875	$ 11,632	$ 13,903	$ 14,660
Lease Rights [Member]
Finite-Lived Intangible Assets [Line Items]
2023 (nine months)	2,271
2024	3,028
2025	3,028
2026	675
2027	461
Thereafter	89
Total	$ 9,552	$ 10,309	$ 12,580	$ 13,337

Schedule of Properties Own and

Schedule of Properties Own and Leased Information (Details) - Integer	Mar. 31, 2023	Dec. 31, 2022
Lessee Disclosure [Abstract]
Cumulative number of facilities	83	83
Cumulative number of properties	80	79
Cumulative number of operational beds	10,351	10,332

Schedule of Additional Informat

Schedule of Additional Information on Properties Facilities Leased (Details)	Mar. 31, 2023 Integer
Number of operational units	10,351
Owned by company units	82
Leased by company units	1
Total Operational units	83
Skilled Nursing Facilities [Member]
Number of operational units	10,189
Owned by company units	77
Leased by company units	1
Total Operational units	78
Long Term Acute Care Hospitals [Member]
Number of operational units	63
Owned by company units	2
Leased by company units
Total Operational units	2
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	4,226
Owned by company units	20
Leased by company units
Total Operational units	20
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	1,165
Owned by company units	11
Leased by company units
Total Operational units	11
ARKANSAS
Number of operational units	1,568
Owned by company units	14
Leased by company units
Total Operational units	14
OKLAHOMA
Number of operational units	137
Owned by company units	2
Leased by company units
Total Operational units	2
TEXAS
Number of operational units	473
Owned by company units	4
Leased by company units
Total Operational units	4

Schedule of Future Minimum Rent

Schedule of Future Minimum Rental Revenues (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Lessee Disclosure [Abstract]
2023 (nine month period)	$ 62,658
2024	84,816
2025	75,152
2026	56,159
2026	56,453
Thereafter	183,789
Total	$ 519,027

Schedule of Property Leases to

Schedule of Property Leases to Third Parties (Details) - Integer Integer in Thousands	Mar. 31, 2023	Dec. 31, 2022
Lessee Disclosure [Abstract]
Number of facilities leased and subleased to third-parties	1	1
Number of operational beds	68	68

Schedule of Components of Lease

Schedule of Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Lessee Disclosure [Abstract]
Operating lease cost	$ 99	$ 97
Operating lease right of use asset	1,755		$ 1,833
Operating lease liability	$ 1,755		$ 1,833
Weighted average remaining lease term-operating leases (in years)	5 years		5 years 3 months
Weighted average discount rate	4.10%		4.10%

Schedule of Future Minimum Leas

Schedule of Future Minimum Lease Payments On Non-Cancellable Leases (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Lessee Disclosure [Abstract]
2023 (nine months period)	$ 296
2024	395
2025	395
2026	395
2027	395
Thereafter	99
Total	1,975
Less Interest	(220)
Total operating lease liability	$ 1,755

Leases (Details Narrative)

Leases (Details Narrative)		3 Months Ended
	Jan. 03, 2023 USD ($)	Mar. 31, 2023 USD ($) Integer	Mar. 31, 2022 USD ($)	Dec. 31, 2022 Integer
Lessee Disclosure [Abstract]
Number of properties leased | Integer		80		79
Lease description		The lease expires on March 1, 2028 and has two five-year renewal options
Rental expense | $	$ 600,000	$ 52,000	$ 51,000

Schedule of Notes Payable and O

Schedule of Notes Payable and Other Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Short-Term Debt [Line Items]
Gross Notes Payable and other Debt	$ 463,083	$ 456,791
Debt issuance costs	(1,864)	(1,376)
Net Notes Payable and other Debt	461,219	455,415
HUD Guaranteed Bank Loans [Member]
Short-Term Debt [Line Items]
Gross Notes Payable and other Debt	$ 273,904	275,778
Weighted average interest rate	3.23%
Bank Loans [Member]
Short-Term Debt [Line Items]
Gross Notes Payable and other Debt	$ 104,338	105,225
Weighted average interest rate	8.37%
Series A andSeries C Bonds [Member]
Short-Term Debt [Line Items]
Gross Notes Payable and other Debt	$ 84,841	$ 75,788
Weighted average interest rate	5.87%

Schedule of Notes Payable and_2

Schedule of Notes Payable and Other Debt Payables Maturity (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Debt Disclosure [Abstract]
2023 (nine-month period)	$ 25,712
2024	26,080
2025	16,139
2026	65,253
2027	102,494
Thereafter	227,405
Total	$ 463,083

Notes Payable and Other Debt (D

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

1 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

Mar. 28, 2022 USD ($)

Mar. 21, 2022 USD ($)

Feb. 28, 2023 USD ($)

Feb. 28, 2023 ILS (₪)

Jul. 31, 2021 USD ($)

Jul. 31, 2021 ILS (₪)

Nov. 30, 2015 USD ($)

Nov. 30, 2015 ILS (₪)

Mar. 31, 2023 USD ($) Integer

Mar. 31, 2022 USD ($)

May 31, 2017 USD ($)

Dec. 31, 2023

Mar. 31, 2023 ILS (₪) Integer

Feb. 28, 2023 ILS (₪)

Dec. 31, 2022 USD ($) Integer

Mar. 19, 2020 USD ($)

Short-Term Debt [Line Items]

Number of outstanding credit related instrument | Integer

40

40

40

Minimum equity balance

$ 7,858

$ 7,786

Proceeds from private placement of additional Series C debentures

$ 1,864

1,376

New Buy Back Program [Member]

Short-Term Debt [Line Items]

Debt instrument, expiration date

Mar. 28, 2023

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%

BVI Company [Member] | Minimum [Member]

Short-Term Debt [Line Items]

Ratio of equity

27%

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

Short-Term Debt [Line Items]

Stockholders' equity percentage

30%

BVI Company [Member] | Maximum [Member]

Short-Term Debt [Line Items]

Distribution maximum percentage ratio

40%

Series B Bonds [Member]

Short-Term Debt [Line Items]

Debt borrowing value at inception

$ 105,000

Payment terms, description

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

Debt instrument margin rate

3.50%

Floor interest rate

4%

Debt outstanding value

$ 101,520

102,390

Foreign currency transaction loss

$ 10,100

Covenant 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]

Mortgage loans

$ 274,000

$ 276,000

Mortgage interest premium rate

0.65%

0.65%

Interest rate including mortgage insurance premium

3.88%

3.88%

3.88%

Series A Bonds [Member]

Short-Term Debt [Line Items]

Proceeds from issuance of bonds | ₪

₪ 265,200

Proceeds from issuance of debt, Net of issuance costs

$ 64,300

₪ 251,200

$ 30,100

Debt instrument, rate

6.40%

6.40%

Weighted interest rate, debt

7.40%

7.40%

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

Short-Term Debt [Line Items]

Debt instrument, rate

2.50%

2.50%

Annual rate of interest

0.50%

Interest increasing in additional percentage

0.25%

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

Short-Term Debt [Line Items]

Minimum equity balance

$ 110,000

Interest increasing in additional percentage

1.25%

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

Short-Term Debt [Line Items]

Minimum equity requirement

$ 120,000

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

Short-Term Debt [Line Items]

Interest increasing in additional percentage

6.40%

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

Short-Term Debt [Line Items]

Percentage of total bond principal paid

15%

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

Short-Term Debt [Line Items]

Percentage of total bond principal paid

10%

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

Short-Term Debt [Line Items]

Debt instrument repurchase

$ 5,000

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

Short-Term Debt [Line Items]

Debt instrument repurchase

$ 10,000

Series C Bonds [Member]

Short-Term Debt [Line Items]

Debt instrument, rate

5.70%

5.70%

Par value of private placement of additional Series C debentures

$ 64,700

₪ 208,000

Proceeds from private placement of additional Series C debentures

$ 1,700

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

Short-Term Debt [Line Items]

Stockholders' equity percentage

27%

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

Short-Term Debt [Line Items]

Distribution maximum percentage ratio

1.50%

Interest increasing in additional percentage

0.50%

Fair market value of collateral

75%

Maximum issuance of debt

$ 174,000

₪ 630,000

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

Short-Term Debt [Line Items]

Minimum equity balance

$ 230,000

Distribution maximum percentage ratio

0.25%

Stockholders' equity percentage

25%

Fair market value of collateral

75%

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

Short-Term Debt [Line Items]

Minimum equity balance

$ 250,000

Stockholders' equity percentage

30%

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

Short-Term Debt [Line Items]

Distribution maximum percentage ratio

80%

Maximum interest rate increase

1.25%

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

Short-Term Debt [Line Items]

Percentage of total bond principal paid

6%

Series C Bonds [Member] | September 30, 2022 [Member] | BVI Company [Member]

Short-Term Debt [Line Items]

Prepayment additional rate

1%

Series C Bonds [Member] | October 1, 2022, to September 30 2023 [Member] | BVI Company [Member]

Short-Term Debt [Line Items]

Prepayment additional rate

2.50%

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

Short-Term Debt [Line Items]

Prepayment additional rate

3%

Series C Debentures [Member]

Short-Term Debt [Line Items]

Par value of private placement of additional Series C debentures

$ 11,300

₪ 40,000

Proceeds from private placement of additional Series C debentures

$ 10,730

₪ 38,100

Private placement issue price

95.25%

95.25%

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
Property, Plant and Equipment [Line Items]
Loans acquired related to these properties		$ 7,740
Protective advances		$ 3,100
Proceeds from sale of property and equipment	$ 4,400

Equity Incentive Plan (Details

Equity Incentive Plan (Details Narrative) - Two Thousand Twenty One Equity Incentive Plan [Member] - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
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	0	0

Stockholders_ Equity and Dist_2

Stockholders’ Equity and Distributions (Details Narrative)	3 Months Ended
	Mar. 31, 2023 shares
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
Operating Partnership Agreement [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock issued, shares	46,890,421
Four Sixty Stockholders [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares outstanding, owned by certain affiliates of the Company	864,240
Equity Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock issued	6,365,856
Equity Incentive Plan [Member] | Operating Partnership Agreement [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common Stock, Capital Shares Reserved for Future Issuance	46,890,421

Schedule of Balances with Relat

Schedule of Balances with Related Parties (Details) - USD ($)			3 Months Ended
		Jan. 03, 2023	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Jun. 14, 2022
Related Party Transaction [Line Items]
Payments for Rent		$ 600,000	$ 52,000	$ 51,000
Notes receivable						$ 8,000,000
Related Party [Member]
Related Party Transaction [Line Items]
Straight-line rent receivable			13,143,000		$ 11,591,000
Tenant portion of replacement reserve			9,245,000		10,227,000
Notes receivable			$ 7,634,000		$ 7,816,000
The Waters of Princeton II, LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			1020 West Vine Street Realty, LLC
Payments for Rent			$ 1,045,506
Percentage of total rent			1.27%
Lease Expiration Date			Aug. 01, 2025
Lessee, Operating Lease, Option to Extend			2 five year
Annual Escalation			3%
The Waters of Princeton II, LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[1],[2]		49.24%
The Waters of Princeton II, LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[1],[2]		50.25%
The Waters of Dillsboro - Ross Manor II LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			12803 Lenover Street Realty LLC
Payments for Rent			$ 1,353,655
Percentage of total rent			1.64%
Lease Expiration Date			Aug. 01, 2025
Lessee, Operating Lease, Option to Extend			2 five year
Annual Escalation			3%
The Waters of Dillsboro - Ross Manor II LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[1],[2]		49.24%
The Waters of Dillsboro - Ross Manor II LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[1],[2]		50.25%
The Waters of Scottsburg II LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			1350 North Todd Drive Realty, LLC
Payments for Rent			$ 1,089,527
Percentage of total rent			1.32%
Lease Expiration Date			Aug. 01, 2025
Lessee, Operating Lease, Option to Extend			2 five year
Annual Escalation			3%
The Waters of Scottsburg II LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[1],[2]		49.24%
The Waters of Scottsburg II LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[1],[2]		50.25%
The Waters of Covington II LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			1600 East Liberty Street Realty LLC
Payments for Rent			$ 1,309,634
Percentage of total rent			1.59%
Lease Expiration Date			Aug. 01, 2025
Lessee, Operating Lease, Option to Extend			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	[1],[2]		49.24%
The Waters of Covington II LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[1],[2]		50.25%
The Waters of Greencastle II LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			1601 Hospital Drive Realty LLC
Payments for Rent			$ 1,100,532
Percentage of total rent			1.33%
Lease Expiration Date			Aug. 01, 2025
Lessee, Operating Lease, Option to Extend			2 five year
Annual Escalation			3%
The Waters of Greencastle II LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[1],[2]		49.24%
The Waters of Greencastle II LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[1],[2]		50.25%
The Waters of Huntingburg II LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			1712 Leland Drive Realty, LLC
Payments for Rent			$ 1,045,506
Percentage of total rent			1.27%
Lease Expiration Date			Aug. 01, 2025
Lessee, Operating Lease, Option to Extend			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	[1],[2]		49.24%
The Waters of Huntingburg II LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[1],[2]		50.25%
The Waters of Martinsville II LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			2055 Heritage Drive Realty LLC
Payments for Rent			$ 1,133,548
Percentage of total rent			1.37%
Lease Expiration Date			Aug. 01, 2025
Lessee, Operating Lease, Option to Extend			2 five year
Annual Escalation			3%
The Waters of Martinsville II LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[1],[2]		49.24%
The Waters of Martinsville II LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[1],[2]		50.25%
The Waters of Indianapolis II LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			3895 South Keystone Avenue Realty LLC
Payments for Rent			$ 891,431
Percentage of total rent			1.08%
Lease Expiration Date			Aug. 01, 2025
Lessee, Operating Lease, Option to Extend			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	[1],[2]		49.24%
The Waters of Indianapolis II LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[1],[2]		50.25%
The Waters of Rising Sun II LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			405 Rio Vista Lane Realty LLC
Payments for Rent			$ 638,309
Percentage of total rent			0.77%
Lease Expiration Date			Aug. 01, 2025
Lessee, Operating Lease, Option to Extend			2 five year
The Waters of Rising Sun II LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[1],[2]		49.24%
The Waters of Rising Sun II LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[1],[2]		50.25%
The Waters of Clifty Falls II LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			950 Cross Avenue Realty LLC
Payments for Rent			$ 1,518,735
Percentage of total rent			1.84%
Lease Expiration Date			Aug. 01, 2025
Lessee, Operating Lease, Option to Extend			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	[1],[2]		49.24%
The Waters of Clifty Falls II LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[1],[2]		50.25%
The Waters of Batesville II LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			958 East Highway 46 Realty LLC
Payments for Rent			$ 946,458
Percentage of total rent			1.14%
Lease Expiration Date			Aug. 01, 2025
Lessee, Operating Lease, Option to Extend			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	[1],[2]		49.24%
The Waters of Batesville II LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[1],[2]		50.25%
The Waters of Muncie II LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			2400 Chateau Drive Realty, LLC
Payments for Rent			$ 792,383
Percentage of total rent			0.96%
Lease Expiration Date			Aug. 01, 2025
Lessee, Operating Lease, Option to Extend			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	[1],[2]		49.24%
The Waters of Muncie II LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[1],[2]		50.25%
The Waters of New Castle II LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			The Big H2O LLC
Payments for Rent			$ 726,351
Percentage of total rent			0.88%
Lease Expiration Date			Aug. 01, 2025
Lessee, Operating Lease, Option to Extend			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	[1],[2]		49.24%
The Waters of New Castle II LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[1],[2]		50.25%
Lakebridge, a Waters Community, LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			115 Woodlawn Drive, LLC
Payments for Rent			$ 1,514,820
Percentage of total rent			1.84%
Lease Expiration Date			Aug. 01, 2031
Lessee, Operating Lease, Option to Extend			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	[1],[2]		50%
Lakebridge, a Waters Community, LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[1],[2]		50%
The Waters of Roan Highlands, LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			146 Buck Creek Road, LLC
Payments for Rent			$ 1,111,794
Percentage of total rent			1.35%
Lease Expiration Date			Aug. 01, 2031
Lessee, Operating Lease, Option to Extend			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	[1],[2]		50%
The Waters of Roan Highlands, LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[1],[2]		50%
The Waters of Springfield, LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			704 5th Avenue East, LLC
Payments for Rent			$ 917,230
Percentage of total rent			1.11%
Lease Expiration Date			Aug. 01, 2031
Lessee, Operating Lease, Option to Extend			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	[1],[2]		50%
The Waters of Springfield, LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[1],[2]		50%
The Waters of Cheatham, LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			2501 River Road, LLC
Payments for Rent			$ 1,111,794
Percentage of total rent			1.35%
Lease Expiration Date			Aug. 01, 2031
Lessee, Operating Lease, Option to Extend			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	[1],[2]		50%
The Waters of Cheatham, LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[1],[2]		50%
The Waters of Smyrna, LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			202 Enon Springs Road East, LLC
Payments for Rent			$ 1,264,666
Percentage of total rent			1.53%
Lease Expiration Date			Aug. 01, 2031
Lessee, Operating Lease, Option to Extend			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	[1],[2]		50%
The Waters of Smyrna, LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[1],[2]		50%
The Waters of Johnson City, LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			140 Technology Lane, LLC
Payments for Rent			$ 1,167,384
Percentage of total rent			1.41%
Lease Expiration Date			Aug. 01, 2031
Lessee, Operating Lease, Option to Extend			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	[1],[2]		50%
The Waters of Johnson City, LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[1],[2]		50%
The Waters of Shelbyville, LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			835 Union Street, LLC
Payments for Rent			$ 1,334,153
Percentage of total rent			1.62%
Lease Expiration Date			Aug. 01, 2031
Lessee, Operating Lease, Option to Extend			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	[1],[2]		50%
The Waters of Shelbyville, LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[1],[2]		50%
Agape Rehabilitation & Nursing Center A Water's Community LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			505 North Roan, LLC
Payments for Rent			$ 1,628,910
Percentage of total rent			1.97%
Lease Expiration Date			Jul. 01, 2031
Lessee, Operating Lease, Option to Extend			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	[1],[2]		50%
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	[1],[2]		50%
Waters of McKenzie, A Rehabilitation & Nursing Center, LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			14510 Highway 79, LLC
Payments for Rent			$ 1,279,858
Percentage of total rent			1.55%
Lease Expiration Date			Jul. 01, 2031
Lessee, Operating Lease, Option to Extend			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	[1],[2]		50%
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	[1],[2]		50%
Waters of Memphis, A Rehabilitation & Nursing Center, LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			6500 Kirby Gate Boulevard, LLC
Payments for Rent			$ 1,745,261
Percentage of total rent			2.11%
Lease Expiration Date			Jul. 01, 2031
Lessee, Operating Lease, Option to Extend			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	[1],[2]		50%
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	[1],[2]		50%
Waters of Sweetwater, A Rehabilitation & Nursing Center, LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			978 Highway 11 South, LLC
Payments for Rent			$ 1,745,261
Percentage of total rent			2.11%
Lease Expiration Date			Jul. 01, 2031
Lessee, Operating Lease, Option to Extend			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	[1],[2]		50%
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	[1],[2]		50%
Waters of Bristol, A Rehabilitiation & Nursing Center, LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			2830 Highway 394, LLC
Payments for Rent			$ 2,327,014
Percentage of total rent			2.82%
Lease Expiration Date			Jul. 01, 2031
Lessee, Operating Lease, Option to Extend			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	[1],[2]		50%
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	[1],[2]		50%
Parker Nursing & Rehabilitation Center, LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			516 West Frech Street, LLC
Payments for Rent			$ 498,350
Percentage of total rent			0.60%
Lease Expiration Date			Mar. 31, 2031
Lessee, Operating Lease, Option to Extend			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%
Westpark, a Waters Community, LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			1316 North Tibbs Avenue Realty, LLC
Payments for Rent			$ 549,884
Percentage of total rent			0.67%
Lease Expiration Date			Jun. 01, 2024
Lessee, Operating Lease, Option to Extend			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			50%
Westpark, a Waters Community, LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			50%
Ambassador Nursing and Rehabilitation Center II, LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			Ambassador Nursing Realty, LLC
Payments for Rent			$ 1,005,313
Percentage of total rent			1.22%
Lease Expiration Date			Feb. 28, 2026
Lessee, Operating Lease, Option to Extend			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			40%
Ambassador Nursing and Rehabilitation Center II, LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Momence Meadows Nursing & Rehabilitation Center, LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			Momence Meadows Realty, LLC
Payments for Rent			$ 1,038,000
Percentage of total rent			1.26%
Lease Expiration Date			Dec. 30, 2025
Lessee, Operating Lease, Option to Extend			None
Annual Escalation			None
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%
Oak Lawn Respiratory and Rehabilitation Center, LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name	[3]		Oak Lawn Nursing Realty, LLC
Payments for Rent	[3]		$ 1,083,048
Percentage of total rent	[3]		1.31%
Lease Expiration Date	[3]		Jun. 01, 2031
Lessee, Operating Lease, Option to Extend	[3]		None
Annual Escalation	[3]		None
Oak Lawn Respiratory and Rehabilitation Center, LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[3]		50%
Oak Lawn Respiratory and Rehabilitation Center, LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage	[3]		50%
Forest View Rehabilitation and Nursing Center, LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			Forest View Nursing Realty, LLC
Payments for Rent			$ 1,215,483
Percentage of total rent			1.47%
Lease Expiration Date			Dec. 01, 2024
Lessee, Operating Lease, Option to Extend			2 five year
Annual Escalation			3%
Forest View Rehabilitation and Nursing Center, LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			50%
Forest View Rehabilitation and Nursing Center, LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			50%
Lakeview Rehabilitation and Nursing Center, LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			Lincoln Park Holdings, LLC
Payments for Rent			$ 1,260,000
Percentage of total rent			1.53%
Lease Expiration Date			May 31, 2031
Lessee, Operating Lease, Option to Extend			None
Annual Escalation			None
Lakeview Rehabilitation and Nursing Center, LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Lakeview Rehabilitation and Nursing Center, LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Continental Nursing and Rehabilitation Center, LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			Continental Nursing Realty, LLC
Payments for Rent			$ 1,575,348
Percentage of total rent			1.91%
Lease Expiration Date			Mar. 01, 2031
Lessee, Operating Lease, Option to Extend			None
Annual Escalation			None
Continental Nursing and Rehabilitation Center, LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
Continental Nursing and Rehabilitation Center, LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
City View Multicare Center, LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			Westshire Nursing Realty, LLC
Payments for Rent			$ 1,788,365
Percentage of total rent			2.17%
Lease Expiration Date			Sep. 01, 2025
Lessee, Operating Lease, Option to Extend			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%
Belhaven Nursing and Rehabilitation Center, LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			Belhaven Realty, LLC
Payments for Rent			$ 2,134,570
Percentage of total rent			2.59%
Lease Expiration Date			Feb. 28, 2026
Lessee, Operating Lease, Option to Extend			2 five year
Annual Escalation			3%
Belhaven Nursing and Rehabilitation Center, LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			50%
Belhaven Nursing and Rehabilitation Center, LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			50%
West Suburban Nursing & Rehabilitation Center, LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			West Suburban Nursing Realty, LLC
Payments for Rent			$ 1,961,604
Percentage of total rent			2.38%
Lease Expiration Date			Nov. 01, 2027
Lessee, Operating Lease, Option to Extend			None
Annual Escalation			None
West Suburban Nursing & Rehabilitation Center, LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			40%
West Suburban Nursing & Rehabilitation Center, 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]
Related Party Transaction [Line Items]
Parent Entity Legal Name			1585 Perry Worth Road, LLC
Payments for Rent			$ 116,676
Percentage of total rent			0.14%
Lease Expiration Date			Jun. 01, 2027
Lessee, Operating Lease, Option to Extend			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			50%
The Waters of Lebanon LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			50%
Niles Nursing Rehabilitation Center LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			Niles Nursing Realty LLC
Payments for Rent			$ 2,409,998
Percentage of total rent			2.92%
Lease Expiration Date			Feb. 28, 2026
Lessee, Operating Lease, Option to Extend			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			50%
Niles Nursing Rehabilitation Center LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			50%
Parkshore Estates Nursing and Rehabilitation Center, LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			Parkshore Estates Nursing Realty, LLC
Payments for Rent			$ 2,454,187
Percentage of total rent			2.97%
Lease Expiration Date			Dec. 01, 2024
Lessee, Operating Lease, Option to Extend			2 five year
Annual Escalation			3%
Parkshore Estates Nursing and Rehabilitation Center, LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			50%
Parkshore Estates Nursing and Rehabilitation Center, LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			50%
Midway Neurological and Rehabilitation Center, LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			Midway Neurological and Rehabilitation Realty, LLC
Payments for Rent			$ 2,547,712
Percentage of total rent			3.09%
Lease Expiration Date			Feb. 28, 2026
Lessee, Operating Lease, Option to Extend			2 five year
Annual Escalation			3%
Midway Neurological and Rehabilitation Center, LLC [Member] | Moishe Gubin and Gubin Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			50%
Midway Neurological and Rehabilitation Center, LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			50%
Hope Creek Nursing and Rehabilitation Center, LLC [Member]
Related Party Transaction [Line Items]
Parent Entity Legal Name			4343 Kennedy Drive, LLC
Payments for Rent			$ 478,958
Percentage of total rent			0.58%
Lease Expiration Date			Oct. 01, 2030
Lessee, Operating Lease, Option to Extend			2 five year
Annual Escalation			3%
Hope Creek Nursing and 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 and Rehabilitation Center, LLC [Member] | Michael Blisko and Blisko Enterprises LP [Member]
Related Party Transaction [Line Items]
Related party ownership percentage			27.50%
[1]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.[2]The interests of the two 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.[3]We are expecting to re-tenant this facility to a non-affiliated tenant with a new triple net lease. . There will be no material change to the rent payment the Company will receive.

Schedule of Payments From and t

Schedule of Payments From and to Related Parties (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Related Party Transactions [Abstract]
Rental income received from related parties	$ 11,838	$ 7,951

Related Party Transactions an_3

Related Party Transactions and Economic Dependence (Details Narrative) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Jun. 14, 2022
Related Party Transaction [Line Items]
Notes receivable			$ 8
Notes receivable interest rate			7%
Optimum Bank [Member] | Mr. Gubin [Member]
Related Party Transaction [Line Items]
Related party deposit liabilities	$ 5.2	$ 4.7

Schedule of Fair Value on the C

Schedule of Fair Value on the Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Jun. 14, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes receivable, carrying amount			$ 8,000
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	$ 461,219	$ 455,415
Senior debt and bonds, fair value	460,468	454,523
Notes receivable, carrying amount	17,942	19,419
Notes receivable, fair value	$ 16,701	$ 18,479

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - Subsequent Event [Member] - USD ($)	May 01, 2023	May 09, 2023
Subsequent Event [Line Items]
Payment to acquire units granted to seller	$ 15,593,000
Stock redeemed, shares	1,454,308
Dividends per share		$ 0.11

Schedule of Financing Income (E

Schedule of Financing Income (Expenses), Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Other Income and Expenses [Abstract]
Interest expenses with respect to bonds	$ (1,214)	$ (2,170)
Interest expenses on loans from banks and others	(3,858)	(1,780)
Interest expenses with respect to leases	(19)	(21)
Other financing expenses (including related parties), net		(669)
Total financing expenses	(5,091)	(4,640)
Financing income	283	151
Interest Expense, Net	$ (4,808)	$ (4,489)