Intangible Assets and Goodwill

3 Months Ended

Mar. 31, 2025

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:

	Goodwill including CON Licenses		Lease Rights			Total
	(Amounts in $000’s)
Balances, December 31, 2023
Gross	$	1,323		54,577			55,900
Accumulated amortization		-		(47,296	)		(47,296	)
Net carrying amount		1,323		7,281			8,604
Acquisition of lease rights				18,000			18,000
Amortization		-		(904	)		(904	)
Balances, March 31, 2024
Gross		1,323		72,577			73,900
Accumulated amortization		-		(48,200	)		(48,200	)
Net carrying amount	$	1,323		24,377			25,700
Balances, December 31, 2024
Gross	$	1,323		78,577			79,900
Accumulated amortization		-		(51,953	)		(51,953	)
Net carrying amount		1,323		26,624			27,947
Lease rent receivables		-		50,880			50,880
Amortization		-		(2,588	)		(2,588	)
Balances, March 31, 2025
Gross		1,323		129,457			130,870
Accumulated amortization		-		(54,541	)		(54,541	)
Net carrying amount	$	1,323		74,916			76,329

Estimated amortization expense for all lease rights for each of the future years ending December 31, is as follows:

		Amortization of Lease Rights
		(Amounts in $000’s)
2025 (nine months)		7,763
2026		8,009
2027		7,783
2028		7,398
2029		7,322
Thereafter		36,641
Total	$	74,916

STRAWBERRY FIELDS REIT, INC. and SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS