<div id="readability-page-1"><article><ul type="disc"><li>Chairman and CEO Moishe Gubin used his NobleCon21 presentation to outline Strawberry Fields REIT’s disciplined expansion strategy and long-term approach to healthcare real estate.</li><li>The company now holds long-term leasehold interests in 142 healthcare facilities with more than 15,500 licensed beds across 10 states.</li><li>Gubin emphasized a conservative acquisition philosophy, with each property evaluated from an operator’s perspective despite the company’s role as a self-administered REIT.</li><li>The REIT has consistently collected 100% of rents and maintains long-term triple-net leases with 3% annual increases.</li><li>Third-quarter 2025 results showed continued momentum, including rental income of $39.7 million and AFFO of $18.1 million.</li><li>The company maintains a payout ratio below 50%, allowing retained cash flow to fund acquisitions and support long-term AFFO growth.</li></ul> SOUTH BEND, Ind., Dec. 31, 2025 (GLOBE NEWSWIRE) -- Strawberry Fields REIT (NYSE American: STRW), a self-administered real estate investment trust specializing in healthcare-related properties, recently attended NobleCon21, where it reinforced how key concepts of disciplined acquisition, predictable cash flow, and long-term stability form the core of its strategy. Speaking at the annual growth event hosted by Noble Capital Markets, Chairman and CEO Moishe Gubin described a methodical expansion approach that has allowed the company to build one of the larger skilled-nursing-focused real estate portfolios in the United States (https://ibn.fm/62vC3). The company concentrates on the acquisition, and leasing of skilled nursing and other healthcare-related properties. It does not develop or operate the facilities it owns. Instead, Strawberry Fields enters long-term triple-net leases with skilled operators, a structure that places operating costs, maintenance, taxes, and insurance obligations on the tenant while delivering predictable rental income to the REIT. Gubin noted that the company’s portfolio has expanded significantly since 2015, when it spun out with 33 properties concentrated in Indiana and Illinois. Strawberry Fields now holds long-term leasehold interests in 142 facilities and more than 15,500 licensed beds, representing roughly 1% of U.S. nursing home capacity. This growth aligns with a broader demographic trend: the U.S. elderly care market, valued at $49.29 billion in 2024, is projected to nearly double to $98.19 billion by 2032 (https://ibn.fm/dgMsV). While the company has grown its geographic footprint, which today spans Indiana, Illinois, Arkansas, Tennessee, Kansas, Kentucky, Missouri, Ohio, Oklahoma, and Texas, Gubin emphasized that expansion has been steady rather than hurried. He described reviewing roughly 300 potential acquisitions each year, submitting offers on a fraction, and ultimately closing five to ten properties annually. According to Gubin, the limiting factor is discipline, not access to capital. A notable feature of the company’s approach is the use of master leases by geography. Rather than lease each building individually, Strawberry Fields groups properties into larger portfolios for one or two operators in each state. Gubin explained that this reduces risk: tenants cannot “cherry-pick” preferred facilities, and the performance of the portfolio as a whole supports rent coverage. This structure has contributed to the company’s record of collecting 100% of rents for seven to eight consecutive years. The company’s leases typically begin at a 10% unlevered return, with 3% annual increases. The company targets an effective, levered, return of around 17% over time. Because rent levels are fixed rather than indexed to operator performance, rental income remains consistent regardless of operational variability at the tenant level. At NobleCon21, Gubin reiterated that the company evaluates each property “as if we were the operator,” even though it remains strictly a landlord. He stressed that integrity, operational experience, and financial stability are the criteria he considers when selecting tenants. These tenant relationships often extend beyond formal asset management, with Gubin himself maintaining regular direct communication. The presentation also highlighted portfolio diversification. While the company began with concentration in two states and a single tenant group, today the tenant base spans multiple independent operators in ten states. Financial performance has remained a central element of the company’s message. For the third quarter of fiscal year 2025, Strawberry Fields reported rental income of $39.7 million, up $6.6 million from the prior year, driven by recent acquisitions in Missouri and Oklahoma. Funds From Operations rose to $20.7 million from $15.2 million in 2024, while Adjusted FFO expanded to $18.1 million from $14.3 million. Net income increased to $8.9 million to $6.9 million during the same period (https://ibn.fm/2TbZV). The company maintains a payout ratio of roughly 47%, which Gubin said is intentionally conservative. Retained cash flow is deployed toward additional acquisitions, supporting the AFFO growth he sees as a key differentiator relative to REITs that distribute nearly all free cash. Strawberry Fields reports approximately $1.1 billion in assets, at historical cost, and a market capitalization of about $750 million. Its debt mix includes long-duration HUD financing, Israeli bond issuances, and conventional debt. Gubin said a future step for the company is to secure a traditional unsecured line of credit, a feature common among large REITs and one he believes may help align market perception with available liquidity. For investors tracking the senior housing and skilled nursing segments, Strawberry Fields presents a REIT model built on long-term leases, consistent rent collection, and measured expansion. The company’s approach avoids development exposure and operational risk, focusing instead on cash-flow stability in a sector expected to expand steadily over the next decade. Strawberry Fields is positioning its portfolio to meet rising demand through continued disciplined acquisition and tenant-focused underwriting, a strategy Gubin describes as central to both the company’s current performance and its long-term trajectory. About Strawberry Fields REIT Strawberry Fields REIT, Inc., is a self-administered real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing and certain other healthcare-related properties. The Company’s portfolio includes 142 healthcare facilities with an aggregate of 15,500+ beds, located throughout the states of Arkansas, Illinois, Indiana, Kansas, Kentucky, Missouri, Ohio, Oklahoma, Tennessee and Texas. The 142 healthcare facilities comprise 130 skilled nursing facilities, 10 assisted living facilities, and two long-term acute care hospitals. Safe Harbor Statement Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Those forward-looking statements include all statements that are not historical statements of fact and those regarding our intent, belief or expectations, including, but not limited to, statements regarding: future financing plans, business strategies, growth prospects and operating and financial performance; expectations regarding the making of distributions and the payment of dividends; and compliance with and changes in governmental regulations. Words such as “anticipate(s),” “expect(s),” “intend(s),” “plan(s),” “believe(s),” “may,” “will,” “would,” “could,” “should,” “seek(s)” and similar expressions, or the negative of these terms, are intended to identify such forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties that could lead to actual results differing materially from those projected, forecasted or expected. Although we believe that the assumptions underlying the forward-looking statements are reasonable, we can give no assurance that our expectations will be attained. Factors which could have a material adverse effect on our operations and future prospects or which could cause actual results to differ materially from our expectations include, but are not limited to: (i) the COVID-19 pandemic and the measures taken to prevent its spread and the related impact on our business or the businesses of our tenants; (ii) the ability and willingness of our tenants to meet and/or perform their obligations under the triple-net leases we have entered into with them, including, without limitation, their respective obligations to indemnify, defend and hold us harmless from and against various claims, litigation and liabilities; (iii) the ability of our tenants to comply with applicable laws, rules and regulations in the operation of the properties we lease to them; (iv) the ability and willingness of our tenants to renew their leases with us upon their expiration, and the ability to reposition our properties on the same or better terms in the event of nonrenewal or in the event we replace an existing tenant, as well as any obligations, including indemnification obligations, we may incur in connection with the replacement of an existing tenant; (v) the availability of and the ability to identify (a) tenants who meet our credit and operating standards, and (b) suitable acquisition opportunities, and the ability to acquire and lease the respective properties to such tenants on favorable terms; (vi) the ability to generate sufficient cash flows to service our outstanding indebtedness; (vii) access to debt and equity capital markets; (viii) fluctuating interest rates; (ix) the ability to retain our key management personnel; (x) the ability to maintain our status as a real estate investment trust (“REIT”); (xi) changes in the U.S. tax law and other state, federal or local laws, whether or not specific to REITs; (xii) other risks inherent in the real estate business, including potential liability relating to environmental matters and illiquidity of real estate investments; and (xiii) any additional factors included under “Risk Factors” in our Form S-3/A filed with the SEC on July 25, 2024, including in the section entitled “Risk Factors” in Item 1A of Part I of such report, as such risk factors may be amended, supplemented or superseded from time to time by other reports we file with the SEC. Forward-looking statements speak only as of the date of this press release. Except in the normal course of our public disclosure obligations, we expressly disclaim any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any statement is based. Investor Relations: Strawberry Fields REIT, Inc. IR@sfreit.com +1 (773) 747-4100 x422 <img src="https://imageproxy.pbkrs.com/https://www.globenewswire.com/newsroom/ti/query-bmY9T1RZeE9EUXhPQ00zTXpRd01EWTRJekl5TURZMU1EYz0?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1" height="1" original-src="https://imageproxy.pbkrs.com/https://www.globenewswire.com/newsroom/ti/query-bmY9T1RZeE9EUXhPQ00zTXpRd01EWTRJekl5TURZMU1EYz0"/> <img src="https://imageproxy.pbkrs.com/https://ml.globenewswire.com/media/OTE5MTA0YjgtYThjMi00YzJjLTk3ZjQtYTcwMjRlM2JiY2E1LTEyMTgwNjAtMjAyNS0xMi0zMS1lbg==/tiny/Strawberry-Fields-REIT.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1" height="1" original-src="https://imageproxy.pbkrs.com/https://ml.globenewswire.com/media/OTE5MTA0YjgtYThjMi00YzJjLTk3ZjQtYTcwMjRlM2JiY2E1LTEyMTgwNjAtMjAyNS0xMi0zMS1lbg==/tiny/Strawberry-Fields-REIT.png"/></article></div>

STRW

Strawberry Fields REIT Inc. (NYSE American: STRW) CEO Moishe Gubin presented at NobleCon21, emphasizing the company's disciplined expansion strategy in healthcare real estate. The REIT holds long-term leasehold interests in 142 facilities with over 15,500 licensed beds across 10 states. Gubin highlighted a conservative acquisition approach, consistent rent collection, and a payout ratio below 50%. The company reported Q3 2025 rental income of $39.7 million and AFFO of $18.1 million, with a focus on long-term stability and predictable cash flow.

Strawberry Fields REIT Inc. (NYSE American: STRW) CEO Highlights Discipline, Scale, and Steady Returns at NobleCon21 | STRW Stock News