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Schedule III
 12 Months Ended
Dec. 31, 2023
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]  
Schedule III

Schedule III

Real Estate and Accumulated Depreciation

 

Property   Location     Property     Land     lease assets     SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost of Furniture Fixtures And Equipment     Land     lease assets     SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Gross Amount Of Furniture Fixtures And Equipment     Total     Depreciation     Construction     Acquired  
                Initial Cost to Company     Gross Amount at Which Carried at Close of Period                    
                      Building and                 Building and                                
                      Improvements     Furniture,           Improvements     Furniture,                          
                      and     fixtures,           and     fixtures,                          
          Type of           Intangible     and           Intangible     and           Accumulated     Date of     Date  
Property   Location     Property     Land     lease assets     equipment     Land     lease assets     equipment     Total     Depreciation     Construction     Acquired  
                                                                         
1020 West Vine St, LLC   IN     SNF     $ 73,704       5,373,301       552,994     $ 73,704       5,373,301       552,994       5,999,999       2,014,053       1968       5/1/2015  
12803 Lenover Street Realty, LLC   IN     SNF       749,235       11,715,266       707,200       749,235       11,715,266       707,200       13,171,701       5,261,743       1898       12/28/2012  
1600 East Liberty Street Realty, LLC   IN     SNF       226,684       8,613,047       684,202       226,684       8,613,047       684,202       9,523,933       3,670,929       1973       12/28/2012  
1601 Hospital Dr Realty, LLC   IN     SNF       374,029       6,536,475       574,959       374,029       6,536,475       574,959       7,485,463       2,809,600       1981       12/28/2012  
2055 Heritage Dr Realty, LLC   IN     SNF       397,029       6,567,012       592,208       397,029       6,567,012       592,208       7,556,249       2,960,970       1978       12/28/2012  
3895 Keystone Ave Realty, LLC   IN     SNF       905,829       5,401,715       465,715       905,829       5,401,715       465,715       6,773,259       2,354,758       1985       12/28/2012  
405 Rio Vista Lane Realty, LLC   IN     SNF       851,889       3,190,949       277,894       851,889       3,190,949      

277,894

       4,320,732       1,845,377       1965       12/28/2012  
950 Cross Ave Realty, LLC   IN     SNF       1,055,229       8,223,435       793,445       1,055,229       8,223,435       793,445       10,072,109       3,733,139       1972       12/28/2012  
958 East Highway 46 Realty, LLC   IN     SNF       1,424,142       12,353,018       494,464       1,424,142       12,353,018       494,464       14,271,624       4,798,322       1975       12/28/2012  
1350 North Todd St, LLC   IN     SNF       76,959       3,151,485       371,556       76,959       3,151,485       371,556       3,600,000       1,876,239       1976       12/28/2012  
1712 Leland Drive Realty, LLC   IN     SNF       158,995       5,399,959       441,046       158,995       5,399,959       441,046       6,000,000       2,517,249       1977       5/1/2015  
253 Bradington Drive, LLC   IL     SNF       533,575       6,030,915       535,510       533,575       6,030,915       535,510       7,100,000       3,288,680       1993       4/1/2011  
1621 Coit Road Realty, LLC   TX     SNF       1,466,005       6,428,360       771,979       1,466,005      

6,428,360

       771,979       8,666,344       3,628,307       1977       7/1/2015  
8200 National Ave Realty, LLC   OK     SNF/LTACH       1,941,555       8,519,002       781,484       1,941,555       8,519,002       781,484       11,242,041       3,194,366       1989       7/1/2015  
2301 North Oregon Realty, LLC   TX     SNF/LTACH       460,109       9,224,188       1,017,263       460,109       9,224,188       1,017,263       10,701,560       3,841,287       1970       7/1/2015  
5601 Plum Creek Drive Realty, LLC   TX     SNF/LTACH       1,110,560       8,585,477       694,019       1,110,560       8,585,477      

694,019

       10,390,056       3,783,211       1985       7/1/2015  
107 South Lincoln Street LLC   IL     SNF       69,401       3,401,111       488,487       -       -       -       -       -       1974       11/26/2014  
1623 West Delmar Ave, LLC   IL     SNF       369,094       2,188,077       257,828       369,094       2,188,077       257,828       2,814,999       1,220,542       1962       11/26/2014  
393 Edwardsville Road LLC   IL     SNF       251,415       3,426,747       387,838       251,415       3,426,747       387,838       4,066,000       1,816,879       1971       11/26/2014  
911 South 3rd St Realty LLC   MI     SNF       289,936       4,022,959       387,105       289,936       4,022,959       387,105       4,700,000       1,911,642       1969       5/22/2015  
516 West Frech St, LLC   IL     SNF       85,518       1,697,527       266,955       85,518       1,697,527       266,955       2,050,000       1,720,303       1974       9/28/2011  
1316 North Tibbs Avenue Realty LLC   IN     SNF       323,226       2,940,959       335,816       323,226       2,940,959       335,816       3,600,001       1,588,690       1976       6/1/2014  

 

 

Property   Location     Property     Land     lease assets     SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost of Furniture Fixtures And Equipment     Land     lease assets     SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Gross Amount Of Furniture Fixtures And Equipment     Total     Depreciation     Construction     Acquired  
                Initial Cost to Company     Gross Amount at Which Carried at Close of Period                    
                      Building and                 Building and                                
                      Improvements     Furniture,           Improvements     Furniture,                          
                      and     fixtures,           and     fixtures,                          
          Type of           Intangible     and           Intangible     and           Accumulated     Date of     Date  
Property   Location     Property     Land     lease assets     equipment     Land     lease assets     equipment     Total     Depreciation     Construction     Acquired  
                                                                         
3090 Five Points Hartford Realty, LLC   OH     SNF       114,614       1,348,246       155,890       114,614       1,348,246       155,890       1,618,750       1,286,468       1950       8/1/2015  
3121 Glanzman Rd Realty, LLC   OH     SNF       211,543       2,977,780       329,427       211,543      

2,977,780

       329,427       3,518,750       1,802,967       1959       8/1/2015  
620 West Strub Rd Realty, LLC   OH     SNF       140,266       2,785,910       192,574       140,266       2,785,910       192,574       3,118,750       1,655,313       1978       8/1/2015  
4250 Sodom Hutchings Road Realty, LLC   OH     SNF       41,548       581,176       96,026       41,548       581,176       96,026       718,750       645,233       1975       8/1/2015  
Ambassador Nursing Realty, LLC   IL     SNF       2,344,176       5,891,870       991,190       2,344,176       5,891,870       991,190       9,227,236       4,030,513       1976       4/1/2008  
Momence Meadows Realty, LLC   IL     SNF       185,405       5,861,271       703,325       185,405       5,861,271       703,325       6,750,001       3,888,263       1974       8/2/2006  
Oak Lawn Nursing Realty, LLC   IL     SNF       808,226       3,388,277       403,497       808,226       3,388,277       403,497       4,600,000       2,506,459       1964       4/30/2012  
Forest View Nursing Realty, LLC   IL     SNF       392,245       6,288,479       819,276       392,245       6,288,479       819,276       7,500,000       2,850,300       1975       11/25/2013  
Lincoln Park Holdings, LLC   IL     SNF       4,322,851       6,815,753       861,396       4,322,851       6,815,753       861,396       12,000,000       2,994,356       1973       11/26/2014  
Continental Realty, LLC   IL     SNF       3,392,263       6,659,835       720,666       3,392,263       6,659,835       720,666       10,772,764       4,960,374       1976       4/2/2008  
Westshire Realty, LLC   IL     SNF       356,185       22,165,811       2,253,929       356,185       22,165,811       2,253,929       24,775,925       10,001,998       1974       7/26/2013  
Belhaven Realty, LLC   IL     SNF       2,298,858       7,026,385       924,756       2,298,858       7,026,385       924,756       10,249,999       6,144,461       1985       6/1/2006  
West Suburban Nursing Realty, LLC   IL     SNF       1,061,095       11,501,970       1,336,935       1,061,095       11,501,970       1,336,935       13,900,000       6,874,212       1975       11/2/2007  
Niles Nursing Realty, LLC   IL     SNF       3,115,279       21,168,943       1,715,779       3,115,279       21,168,943       1,715,779       26,000,001       9,744,838       1974       8/25/2012  
Parkshore Estates Nursing Realty, LLC   IL     SNF       450,232       18,186,687       1,747,280       450,232       18,186,687       1,747,280       20,384,199       6,931,505       1975       2/5/2015  
Midway Neurological and Rehab Realty, LLC   IL     SNF       1,436,736       15,856,182       1,707,081       1,436,736       15,856,182       1,707,081       18,999,999       11,700,105       1972       4/1/2005  
115 Woodlawn Drive, LLC   TN     SNF       1,130,269       9,411,746       930,933       1,130,269       9,411,746       930,933       11,472,949       3,391,512       1995       8/1/2016  
146 Buck Creek Road, LLC   TN     SNF       829,555       6,907,704       683,254       829,555       6,907,704       683,254       8,420,513       2,489,183       1997       8/1/2016  
704 5th Avenue East, LLC   TN     SNF       684,383       5,698,856       563,684       684,383       5,698,856       563,684       6,946,923       2,053,576       1964       8/1/2016  
2501 River Road, LLC   TN     SNF       829,555       6,907,704       683,254       829,555       6,907,704       683,254       8,420,513       2,489,183       1964       8/1/2016  
202 Enon Springs East, LLC   TN     SNF       943,619       7,857,513       777,201       943,619       7,857,513       777,201       9,578,333       2,831,446       1974       8/1/2016  
140 Technology Lane, LLC   TN     SNF       871,033       7,253,089       717,416       871,033       7,253,089      

717,416

       8,841,538       2,613,643       2007       8/1/2016  
835 Union Street, LLC   TN     SNF       995,467       8,289,244       819,904       995,467       8,289,244       819,904       10,104,615       2,987,020       1962       8/1/2016  
308 West Maple Avenue, LLC   KY     SNF       995,467       8,289,244       819,904       995,467       8,289,244       819,904       10,104,615       2,987,020       1970       8/1/2016  
Big H2O - Land Rising Sun   IN             772,847       -       -       772,847       -       -       772,847       -               12/1/2012  
1585 Perry Worth, LLC   IN     SNF       98,516       820,342       81,142       98,516       820,342       81,142       1,000,000       252,175       1967       7/17/2017  
1155 Eastern Parkway, LLC   KY     SNF       1,147,712       18,894,131       1,708,157       1,147,712       18,894,131       1,708,157       21,750,000       5,314,614       1973       9/1/2017  
1015 Magazine Street, LLC   KY     SNF       2,750,000       3,060,000       690,000       2,750,000       3,060,000       690,000       6,500,000       3,067,130       1981       5/1/2018  
5301 Wheeler Avenue, LLC   AR     SNF       400,000       3,147,874       877,500       400,000       3,147,874       877,500       4,425,374       2,114,491       1967       8/29/2018  
414 Massey Avenue, LLC   AR     SNF       125,000       845,359       240,000       125,000       845,359       240,000       1,210,359       588,788       1994       8/29/2018  
706 Oak Grove Street, LLC   AR     SNF       300,000       2,641,399       727,500       300,000       2,641,399       727,500       3,668,899       1,652,599       1965       8/29/2018  
8701 Riley Dr., LLC   AR     SNF       950,000       3,295,319       1,050,000       950,000       3,295,319       1,050,000       5,295,319       2,924,477       1979       8/29/2018  
1516 Cumberland Street, LLC   AR     SNF       325,000       3,313,843       900,000       325,000       3,313,843       900,000       4,538,843       1,830,482       1971       8/29/2018  
5720 West Markham Street, LLC   AR     SNF       600,000       4,069,851       1,155,000       600,000       4,069,851       1,155,000       5,824,851       1,893,030       1973       8/29/2018  
2501 John Ashley Dr.,LLC   AR     SNF       550,000       3,695,319       1,050,000       550,000       3,695,319       1,050,000       5,295,319       3,110,291       1969       8/29/2018  
1513 S. Dixieland Road, LLC   AR     SNF       275,000       3,060,608       825,000       275,000       3,060,608       825,000       4,160,608       1,786,912       1968       8/29/2018  
826 North Street, Stamps, LLC   AR     SNF       225,000       2,625,428       705,000       225,000       2,625,428       705,000       3,555,428       1,493,959       1971       8/29/2018  
900 Gagel Avenue, LLC   KY     SNF       1,250,000       2,390,000       360,000       1,250,000       2,390,000       360,000       4,000,000       1,560,890       1970       8/30/2018  
120 Life Care Way, LLC   KY     SNF       200,000       5,863,133       750,000       200,000       5,863,133       750,000       6,813,133       2,040,178       1974       2/19/2019  
1033 North Highway 11, LLC   KY     SNF       450,000       5,976,921       795,000       450,000       5,976,921       795,000       7,221,921       1,997,941       1978       2/19/2019  
945 West Russell Street, LLC   KY     SNF       350,000       6,076,921       795,000       350,000       6,076,921       795,000       7,221,921       1,843,841       1979       2/19/2019  
9209 Dollarway Road, LLC   AR     SNF       500,000       5,450,000       900,000       500,000       5,450,000       900,000       6,850,000       2,611,255       2001       3/27/2019  

 

 

Property   Location     Property     Land     lease assets     SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost of Furniture Fixtures And Equipment     Land     lease assets     SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Gross Amount Of Furniture Fixtures And Equipment     Total     Depreciation     Construction     Acquired  
                Initial Cost to Company     Gross Amount at Which Carried at Close of Period                    
                      Building and                 Building and                                
                      Improvements     Furniture,           Improvements     Furniture,                          
                      and     fixtures,           and     fixtures,                          
          Type of           Intangible     and           Intangible     and           Accumulated     Date of     Date  
Property   Location     Property     Land     lease assets     equipment     Land     lease assets     equipment     Total     Depreciation     Construction     Acquired  
                                                                         
727 North 17th St, LLC 3523 Wickenhauser, LLC   IL     SNF       613,116       3,856,645       663,640       613,116       3,856,645       663,640       5,133,401       1,494,310       1969, 1971       1/1/2019  
326 Lindley Lane, LLC   AR     SNF       250,000       2,917,353       720,000       250,000       2,917,353       720,000       3,887,353       1,393,649       2001       4/10/2019  
2821 West Dixon Road, LLC   AR     SNF       400,000       4,817,873       354,000       400,000       4,817,873       354,000       5,571,873       2,232,328       1950       4/10/2019  
552 Golf Links Road, LLC   AR     SNF       500,000       3,511,981       912,000       500,000       3,511,981       912,000       4,923,981       1,804,188       1978       4/10/2019  
9300 Ballard Road, LLC   IL     SNF       285,000       12,467,584       1,470,053       285,000       12,467,584       1,391,952       14,144,536       4,008,960       1974       6/28/2019  
Land in Covington   KY     N/A       94,922       -       -       94,922       -       -       94,922       -       N/A       11/6/2015  
2400 Chateau Drive Realty, LLC   IN     SNF       327,804       2,538,755       283,441       327,804       2,538,755       283,441       3,150,000       748,392       1972       11/13/2019  
203 Bruce Court, LLC   KY     SNF       150,000       3,755,896       477,000       150,000       3,755,896       477,000       4,382,896       1,354,433       1972       6/1/2020  
4343 Kennedy Drive LLC   IL     SNF       1,650,000       1,615,000       735,000       1,650,000       1,615,000       735,000       4,000,000       895,354       2009       10/1/2020  
505 North Roan Street, LLC   TN     SNF       650,000       10,171,216       504,000       650,000       10,171,216       504,000       11,325,216       1,031,028       2005       8/25/2021  
14510 Highway 79, LLC   TN     SNF       525,000       5,117,868       396,000       525,000       5,117,868       396,000       6,038,868       784,702       1969       8/25/2021  
6500 Kirby Gate Boulevard, LLC   TN     SNF       1,250,000       17,345,000       405,000       1,250,000       17,345,000       405,000       19,000,000       1,376,258       2015       8/25/2021  
978 Highway 11 South, LLC   TN     SNF       250,000       9,965,900       540,000       250,000       9,965,900       540,000       10,755,900       1,060,140       1966       8/25/2021  
2830 Highway 394, LLC   TN     SNF       475,000       27,625,000       900,000       475,000       27,625,000      

900,000

       29,000,000       2,110,678       2017       8/25/2021  
1253 Lake Barkley Drive, LLC   KY     SNF       175,000       4,496,940       195,000       175,000       4,496,940       195,000       4,866,940       741,121       1968       8/25/2021  
1123 Rockdale   MA     Vacant       -       1,200,000       -       -       1,200,000       -       1,200,000       -                  
420 Jett Drive, LLC   KY     SNF       100,000       4,700,000       1,200,000       100,000       4,700,000       1,200,000       6,000,000       397,409       1971       1/5/2023  
8400 Clearvista Place, LLC   IN     ALF       199,550       4,939,068       1,140,000       199,550       4,939,068       1,140,000       6,278,618       128,388       1985       8/25/2023  
8400 Clearvista Place, LLC   IN     SNF       199,550       2,504,532       270,000       199,550       2,504,532       270,000       2,974,082       43,672       1985       8/25/2023  
524 Anderson Road, LLC   IN     SNF       182,300       2,522,236       600,000       182,300       2,522,236       600,000       3,304,536       76,831       1984       8/25/2023  
640 West Ellsworth Street, LLC   IN     SNF       36,300       3,750,050       840,000       36,300       3,750,050      

840,000

       4,626,350       110,609       1957       8/25/2023  
11563 West 300 South LLC   IN     SNF       47,200       2,026,277       460,000       47,200       2,026,277       460,000       2,533,477       55,493       1969       8/25/2023  
5544 East State Boulevard, LLC   IN     SNF       492,800       2,978,021       770,000       492,800       2,978,021      

770,000

       4,240,821       94,999       1964       8/25/2023  
548 South 100 West, LLC   IN     SNF       86,000       2,843,914       650,000       86,000       2,843,914       650,000       3,579,914       78,190       1973       8/25/2023  
2901 West 37th Avenue, LLC   IN     SNF       702,800       4,255,515       1,100,000       702,800       4,255,515       1,100,000       6,058,315       125,861       1974       8/25/2023  
1500 Grant Street, LLC   IN     SNF       118,700       3,712,725       850,000       118,700       3,712,725      

850,000

       4,681,425       110,786       1968       8/25/2023  
787 North Detroit Street, LLC   IN     ALF       50,400       4,457,159       1,000,000       50,400       4,457,159       1,000,000       5,507,559       121,242       1970       8/25/2023  
787 North Detroit Street, LLC   IN     SNF       50,400       800,885       85,000       50,400       800,885       85,000       936,285       19,841       1978       8/25/2023  
981 Beechwood Avenue, LLC   IN     SNF       29,600       2,674,936       600,000       29,600       2,674,936       600,000       3,304,536       72,753       1974       8/25/2023  
317 Blair Pike, LLC   IN     SNF       72,800       5,787,027       1,300,000       72,800       5,787,027       1,300,000       7,159,827       170,950       1966       8/25/2023  
815 West Washington Street, LLC   IN     SNF       44,100       2,660,436       600,000       44,100       2,660,436      

600,000

       3,304,536       78,754       1966       8/25/2023  
612 East 11th Street, LLC   IN     ALF       49,650       4,367,758       980,000       49,650       4,367,758       980,000       5,397,408       128,943       1967       8/25/2023  
612 East 11th Street, LLC   IN     SNF       49,650       1,402,542       145,000       49,650       1,402,542       145,000       1,597,192       34,479       1967       8/25/2023  
505 West Wolfe Street, LLC   IN     ALF       86,100       4,105,930       930,000       86,100       4,105,930       930,000       5,122,030       96,432       1970       8/25/2023  
505 West Wolfe Street, LLC   IN     SNF       110,200       1,492,219       160,000       110,200       1,492,219       160,000       1,762,419       23,790       1970       8/25/2023  
500 East Pickwick Drive, LLC   IN     SNF       206,500       2,768,489       660,000       206,500       2,768,489      

660,000

       3,634,989       73,426       1986       8/25/2023  
300 Fairgrounds Road, LLC   IN     SNF       94,500       6,666,839       1,500,000       94,500       6,666,839       1,500,000       8,261,339       197,104       1977       8/25/2023  
1900 Alber Street, LLC   IN     SNF       819,000       2,967,350       840,000       819,000       2,967,350       840,000       4,626,350       92,839       1969       8/25/2023  
1720 Alber Street, LLC   IN     SNF       360,000       1,623,326       440,000       360,000       1,623,326      

440,000

       2,423,326       49,430       1970       8/25/2023  
300 North Washington Street, LLC   IN     SNF       90,050       5,905,004       1,330,000       90,050       5,905,004       1,330,000       7,325,054       138,164       1984       8/25/2023  
300 North Washington Street, LLC   IN     ALF       90,050       2,964,561       305,000       90,050       2,964,561       305,000       3,359,611       62,463       2000       8/25/2023  
                                                                                             
Total               $ 64,378,105     $ 603,616,917     $ 73,753,977     $ 64,308,704     $ 600,215,806     $ 73,187,389     $ 737,711,900     $ 219,397,676                  

 

 

STRAWBERRY FIELDS REIT, INC. and Subsidiaries

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

 

The changes in total real estate and accumulated depreciation are as follows (in thousands):

 

   2023   2022 
   For the year ended December 31, 
   2023   2022 
Cost          
Balance at beginning of the year  $633,749    632,036 
Acquisitions   108,061    1,713 
Disposals/other   (4,098)   - 
Balance at end of the year  $737,712    633,749 
           
Accumulated Depreciation          
Balance at beginning of the year  $194,838    169,308 
Depreciation   26,207    25,530 
Dispositions/other   (1,647)   - 
Balance at end of the year  $219,398    194,838 
           
Net Real Estate  $518,314    438,911 

 

The unaudited aggregate net tax value of real estate assets for federal income tax purposes as of December 31, 2023 is estimated to be $532,953,138.

 

(1) The cost of building and improvements is depreciated on a straight-line basis over the estimated useful lives of the buildings and improvements, ranging primarily from 3 to 35 years. The cost of intangible lease assets is depreciated on a straight-line basis over the initial term of the related leases, ranging primarily from 3 to 20 years. The cost of furniture, fixtures and equipment are depreciated on a straight-line basis over the estimated useful lives of the furniture, fixtures and equipment, ranging primarily from 2 to 15 years. See Note 4 to the consolidated financial statements for information on useful lives used for depreciation and amortization.

 

(2) LTACH — long-term acute care hospital, SNF — skilled nursing facility, and ALF — assisted living facility.