Intangible Assets and Goodwill

3 Months Ended

Mar. 31, 2026

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, 2024
Gross	$	1,323		78,577			79,900
Accumulated amortization		-		(51,953	)		(51,953	)
Net carrying amount		1,323		26,624			27,947
Acquisition of lease rights		-		50,880			50,880
Amortization		-		(2,588	)		(2,588	)
Balances, March 31, 2025
Gross		1,323		129,457			130,780
Accumulated amortization		-		(54,541	)		(54,541	)
Net carrying amount	$	1,323		74,916			76,239

Balances, December 31, 2025
Gross	$	1,323		129,457			130,780
Accumulated amortization		-		(62,428	)		(62,428	)
Net carrying amount		1,323		67,029			68,352
Amortization		-		(2,213	)		(2,213	)
Balances, March 31, 2026
Gross		1,323		129,457			130,780
Accumulated amortization		-		(64,641	)		(64,641	)
Net carrying amount	$	1,323		64,816			66,139

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)
2026 (nine months)		5,983
2027		7,949
2028		7,564
2029		7,488
2030		7,488
Thereafter		28,344
Total	$	64,816

STRAWBERRY FIELDS REIT, INC. and SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Strawberry Fields REIT, Inc. 10-Q