Strawberry Fields REIT, Inc. delivered robust third quarter 2025 results, highlighted by perfect rent collection and record rental income of $39.7 million. The healthcare-focused real estate investment trust continued its strategic expansion during the quarter, acquiring 11 skilled nursing and healthcare facilities across Missouri and Oklahoma for a combined $68.55 million. These acquisitions were entirely funded from working capital and are expected to increase annual base rents by approximately $6.6 million, with each property subject to 3% annual rent escalations.
The company's financial performance showed significant improvement across key metrics. Funds from operations increased to $20.7 million from $15.2 million in the same quarter last year, while adjusted FFO grew to $18.1 million from $14.3 million. Net income also saw substantial growth, rising to $8.9 million from $6.9 million year-over-year. This consistent financial improvement underscores the success of Strawberry Fields REIT's long-term growth strategy in the healthcare real estate sector.
Strawberry Fields REIT maintains a diversified portfolio of 142 healthcare facilities spanning ten states, including Arkansas, Illinois, Indiana, Kansas, Kentucky, Missouri, Ohio, Oklahoma, Tennessee and Texas. The portfolio comprises 130 skilled nursing facilities, 10 assisted living facilities, and two long-term acute care hospitals, totaling more than 15,500 beds. The company's focus on skilled nursing and healthcare-related properties positions it to benefit from the growing demand for healthcare services driven by demographic trends.
The strong quarterly performance and strategic acquisitions demonstrate the company's ability to execute its growth objectives while maintaining financial discipline. Investors can access the full press release detailing these results at https://ibn.fm/CAz62. Additional news and updates relating to STRW are available in the company's newsroom at https://ibn.fm/STRW. The company's continued portfolio expansion and financial growth reflect the stability and potential of healthcare real estate investments in current market conditions.
