Intangible Assets and Goodwill (Tables)

6 Months Ended

Jun. 30, 2025

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		-		(2,111	)		(2,111	)
Balances, June 30, 2024
Gross		1,323		72,577			73,900
Accumulated amortization		-		(49,407	)		(49,407	)
Net carrying amount	$	1,323	$	23,170		$	24,493
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		-		(5,217	)		(5,217	)
Balances, June 30, 2025
Gross		1,323		129,457			130,780
Accumulated amortization		-		(57,170	)		(57,170	)
Net carrying amount	$	1,323		72,287			73,610

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 (six months)	$	5,258
2026		8,175
2027		7,949
2028		7,564
2029		7,488
Thereafter		35,853
Total	$	72,287

Strawberry Fields REIT, Inc. 10-Q