Strawberry Fields REIT, Inc.

$400m committed across 4 active facilities, next covenant test Sep 30, 2026. STRW

Real Estate Investment Trusts

Recent changes

  1. Jun 25, 2026Strawberry Fields REIT, Inc. signs $100m REVOLVING LOAN NOTESEC ↗
  2. Jun 25, 2026Strawberry Fields REIT, Inc. signs $100m REVOLVING LOAN AND SECURITY AGREEMENT, matures Jun 2029SEC ↗
  3. Jun 25, 2026Strawberry Fields REIT, Inc. signs $100m TERM LOAN AND SECURITY AGREEMENT, matures Jun 2029SEC ↗
  4. Jun 25, 2026Strawberry Fields REIT, Inc. signs $100m TERM LOAN NOTESEC ↗

Total leverage: when the limit steps, and which way the company's ratio has been moving.

20268.30x6.99x5.67xToday
Tested quarterly24.1%ratio 6.07x, estimated, vs 8.00x limit in force at Jun 30, 20268.00x

Equity cure available.

Permit the Strawberry Fields Debt to EBITDA Ratio to exceed 8.0 to 1.00 for each Computation Period as measured on a trailing twelve (12)-month basis commencing with the Computation Period ending June 30, 2026, and continuing for each subsequent Computation Period thereafter.
Read the filing on sec.gov ↗
Tested quarterly24.1%ratio 6.07x, estimated, vs 8.00x limit in force at Jun 30, 20268.00x

Equity cure available.

Permit the Strawberry Fields Debt to EBITDA Ratio to exceed 8.0 to 1.00 for each Computation Period as measured on a trailing twelve (12)-month basis commencing with the Computation Period ending June 30, 2026, and continuing for each subsequent Computation Period thereafter.
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measured1.25x

Equity cure available.

Permit the Strawberry Fields Debt Service Coverage Ratio (before giving effect to payment of any advances or distributions to the extent permitted herein) to be less than 1.25 to 1.00 for each Computation Period as measured on a trailing twelve (12)-month basis commencing with the Computation Period ending June 30, 2026, and continuing for each subsequent Computation Period thereafter.
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measured$30m

Equity cure available.

Permit the Strawberry Fields Equity to be less than Thirty Million and No/100 Dollars ($30,000,000.00) for each Computation Period commencing with the Computation Period ending June 30, 2026, and continuing for each subsequent Computation Period thereafter.
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measured1.25x

Equity cure available.

Permit the Strawberry Fields Debt Service Coverage Ratio (before giving effect to payment of any advances or distributions to the extent permitted herein) to be less than 1.25 to 1.00 for each Computation Period as measured on a trailing twelve (12)-month basis commencing with the Computation Period ending June 30, 2026, and continuing for each subsequent Computation Period thereafter.
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measured$30m

Equity cure available.

Permit the Strawberry Fields Equity to be less than Thirty Million and No/100 Dollars ($30,000,000.00) for each Computation Period commencing with the Computation Period ending June 30, 2026, and continuing for each subsequent Computation Period thereafter.
Read the filing on sec.gov ↗

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REVOLVING LOAN NOTE

Signed Jun 18, 2026

Committed
$100m
Matures
n/a
TrancheSizeMaturesMargin
Revolving credit facility$100mn/an/a

Lenders: Popular Bank

TERM LOAN NOTE

Signed Jun 18, 2026

Committed
$100m
Matures
n/a
TrancheSizeMaturesMargin
Term Loan$100mn/an/a

Lenders: Popular Bank

TERM LOAN AND SECURITY AGREEMENT

Signed Jun 18, 2026

Committed
$100m
Matures
Jun 2029
TrancheSizeMaturesMargin
Term Loan$100mJun 2029275 bps

Priced over Term SOFR, floor 1 bps (Term Loan A).

LevelConditionMarginUnused fee
Level Level 1all times275 bpsn/a

§2.4(a)

Lenders: Popular Bank

REVOLVING LOAN AND SECURITY AGREEMENT

Signed Jun 18, 2026

Committed
$100m
Matures
Jun 2029
TrancheSizeMaturesMargin
Revolving credit facility$100mJun 2029275 bps

Priced over Term SOFR (Revolving credit facility).

LevelConditionMarginUnused fee
Level Level 1all times275 bpsn/a

§1.1

Lenders: Popular Bank

No amendments on file yet.

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