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Related Party Transactions and Economic Dependence (Tables) | 12 Months Ended
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Dec. 31, 2023
Related Party Transactions [Abstract] |
Schedule of Related Party Transactions | The following table sets forth details of the lease agreements in force between the Company and its subsidiaries and lessees that are related parties: Schedule of Related Party Transactions
|  |  |  |  |  |  | (1)(2) |  |  |  | (1)(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  | Related Party Ownership in Manager/Tenant/ Operator (1) (2) |  |  |  |  |  |  |  |  |  |  |  |  |  |
State |  | Lessor/ Company Subsidiary |  | Tenant/ Operator |  | Moishe Gubin/Gubin Enterprises LP |  |  | Michael Blisko/Blisko Enterprises LP |  |  | Average annual rent over life of lease |  |  | Annual Escalation |  |  | % of total rent |  |  | Lease maturity |  | Extension options
|  | Master Lease Indiana |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
IN |  | 1020 West Vine Street Realty, LLC |  | The Waters of Princeton II, LLC |  |  | 49.49 | % |  |  | 50.51 | % |  | $ | 1,045,506 |  |  |  | 3.00 | % |  |  | 1.07 | % |  | 8/1/2025 |  | 2 five year
IN |  | 12803 Lenover Street Realty LLC |  | The Waters of Dillsboro – Ross Manor II LLC |  |  | 49.49 | % |  |  | 50.51 | % |  |  | 1,353,655 |  |  |  | 3.00 | % |  |  | 1.39 | % |  | 8/1/2025 |  | 2 five year
IN |  | 1350 North Todd Drive Realty, LLC |  | The Waters of Scottsburg II LLC |  |  | 49.49 | % |  |  | 50.51 | % |  |  | 1,089,527 |  |  |  | 3.00 | % |  |  | 1.12 | % |  | 8/1/2025 |  | 2 five year
IN |  | 1600 East Liberty Street Realty LLC |  | The Waters of Covington II LLC |  |  | 49.49 | % |  |  | 50.51 | % |  |  | 1,309,634 |  |  |  | 3.00 | % |  |  | 1.35 | % |  | 8/1/2025 |  | 2 five year
IN |  | 1601 Hospital Drive Realty LLC |  | The Waters of Greencastle II LLC |  |  | 49.49 | % |  |  | 50.51 | % |  |  | 1,100,532 |  |  |  | 3.00 | % |  |  | 1.13 | % |  | 8/1/2025 |  | 2 five year
IN |  | 1712 Leland Drive Realty, LLC |  | The Waters of Huntingburg II LLC |  |  | 49.49 | % |  |  | 50.51 | % |  |  | 1,045,506 |  |  |  | 3.00 | % |  |  | 1.07 | % |  | 8/1/2025 |  | 2 five year
IN |  | 2055 Heritage Drive Realty LLC |  | The Waters of Martinsville II LLC |  |  | 49.49 | % |  |  | 50.51 | % |  |  | 1,133,548 |  |  |  | 3.00 | % |  |  | 1.16 | % |  | 8/1/2025 |  | 2 five year
IN |  | 3895 South Keystone Avenue Realty LLC |  | The Waters of Indianapolis II LLC |  |  | 49.49 | % |  |  | 50.51 | % |  |  | 891,431 |  |  |  | 3.00 | % |  |  | 0.92 | % |  | 8/1/2025 |  | 2 five year
IN |  | 405 Rio Vista Lane Realty LLC |  | The Waters of Rising Sun II LLC |  |  | 49.49 | % |  |  | 50.51 | % |  |  | 638,309 |  |  |  | 3.00 | % |  |  | 0.66 | % |  | 8/1/2025 |  | 2 five year
IN |  | 950 Cross Avenue Realty LLC |  | The Waters of Clifty Falls II LLC |  |  | 49.49 | % |  |  | 50.51 | % |  |  | 1,518,735 |  |  |  | 3.00 | % |  |  | 1.56 | % |  | 8/1/2025 |  | 2 five year
IN |  | 958 East Highway 46 Realty LLC |  | The Waters of Batesville II LLC |  |  | 49.49 | % |  |  | 50.51 | % |  |  | 946,458 |  |  |  | 3.00 | % |  |  | 0.97 | % |  | 8/1/2025 |  | 2 five year
IN |  | 2400 Chateau Drive Realty, LLC |  | The Waters of Muncie II LLC |  |  | 49.49 | % |  |  | 50.51 | % |  |  | 792,383 |  |  |  | 3.00 | % |  |  | 0.81 | % |  | 8/1/2025 |  | 2 five year
IN |  | The Big H2O LLC |  | The Waters of New Castle II LLC |  |  | 49.49 | % |  |  | 50.51 | % |  |  | 726,351 |  |  |  | 3.00 | % |  |  | 0.75 | % |  | 8/1/2025 |  | 2 five year
STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 11. Related Party Transactions and Economic Dependence (cont.) Lease Agreements with Related Parties (cont.)
|  |  |  |  |  |  | (1)(2) |  |  |  | (1)(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  | Related Party Ownership in Manager/Tenant/ Operator (1) (2) |  |  |  |  |  |  |  |  |  |  |  |  |  |
State |  | Lessor / Company Subsidiary |  | Tenant/ Operator |  | Moishe Gubin/Gubin Enterprises LP |  |  | Michael Blisko/Blisko Enterprises LP |  |  | Average annual rent over life of lease |  |  | Annual Escalation |  |  | % of total rent |  |  | Lease maturity |  | Extension options
|  | Master Lease Tennessee |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
TN |  | 115 Woodlawn Drive, LLC |  | Lakebridge, a Waters Community, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 1,514,820 |  |  |  | 3.00 | % |  |  | 1.55 | % |  | 8/1/2031 |  | 2 five year
TN |  | 146 Buck Creek Road, LLC |  | The Waters of Roan Highlands, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 1,111,794 |  |  |  | 3.00 | % |  |  | 1.14 | % |  | 8/1/2031 |  | 2 five year
TN |  | 704 5th Avenue East, LLC |  | The Waters of Springfield, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 917,230 |  |  |  | 3.00 | % |  |  | 0.94 | % |  | 8/1/2031 |  | 2 five year
TN |  | 2501 River Road, LLC |  | The Waters of Cheatham, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 1,111,794 |  |  |  | 3.00 | % |  |  | 1.14 | % |  | 8/1/2031 |  | 2 five year
TN |  | 202 Enon Springs Road East, LLC |  | The Waters of Smyrna, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 1,264,666 |  |  |  | 3.00 | % |  |  | 1.30 | % |  | 8/1/2031 |  | 2 five year
TN |  | 140 Technology Lane, LLC |  | The Waters of Johnson City, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 1,167,384 |  |  |  | 3.00 | % |  |  | 1.20 | % |  | 8/1/2031 |  | 2 five year
TN |  | 835 Union Street, LLC |  | The Waters of Shelbyville, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 1,334,153 |  |  |  | 3.00 | % |  |  | 1.37 | % |  | 8/1/2031 |  | 2 five year
|  | Master Lease Tennessee 2 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
TN |  | 505 North Roan, LLC |  | Agape Rehabilitation & Nursing Center, A Water’s Community LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 1,628,910 |  |  |  | 3.00 | % |  |  | 1.67 | % |  | 7/1/2031 |  | 2 five year
TN |  | 14510 Highway 79, LLC |  | Waters of McKenzie, A Rehabilitation & Nursing Center, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 1,279,858 |  |  |  | 3.00 | % |  |  | 1.31 | % |  | 7/1/2031 |  | 2 five year
TN |  | 6500 Kirby Gate Boulevard, LLC |  | Waters of Memphis, A Rehabilitation & Nursing Center, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 1,745,261 |  |  |  | 3.00 | % |  |  | 1.79 | % |  | 7/1/2031 |  | 2 five year
TN |  | 978 Highway 11 South, LLC |  | Waters of Sweetwater, A Rehabilitation & Nursing Center, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 1,745,261 |  |  |  | 3.00 | % |  |  | 1.79 | % |  | 7/1/2031 |  | 2 five year
TN |  | 2830 Highway 394, LLC |  | Waters of Bristol, A Rehabilitation & Nursing Center, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 2,327,014 |  |  |  | 3.00 | % |  |  | 2.38 | % |  | 7/1/2031 |  | 2 five year
STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 11. Related Party Transactions and Economic Dependence (cont.) Lease Agreements with Related Parties (cont.)
|  |  |  |  |  |  | (1)(2) |  |  |  | (1)(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  | Related Party Ownership in Manager/Tenant/ Operator (1) (2) |  |  |  |  |  |  |  |  |  |  |  |  |  |
State |  | Lessor/ Company Subsidiary |  | Tenant/ Operator |  | Moishe Gubin/Gubin Enterprises LP |  |  | Michael Blisko/Blisko Enterprises LP |  |  | Average annual rent over life of lease |  |  | Annual Escalation |  | % of total rent |  |  | Lease maturity |  |  | Extension options
|  | Master Lease Indiana 2 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
IN |  | 8400 Clearvista Place LLC |  | The Waters of Castleton SNF, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 804,694 |  |  | Varies(3)(4) |  |  | 0.83 | % |  |  | 2029 |  |  | One 3 years and two 5 years
IN |  | 524 Anderson Road LLC |  | The Waters of Chesterfield SNF, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 423,523 |  |  | Varies(3)(4) |  |  | 0.43 | % |  |  | 2029 |  |  | One 3 years and two 5 years
IN |  | 640 West Ellsworth Street LLC |  | The Waters of Columbia City SNF, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 592,933 |  |  | Varies(3)(4) |  |  | 0.61 | % |  |  | 2029 |  |  | One 3 years and two 5 years
IN |  | 11563 West 300 South LLC |  | The Waters of Dunkirk SNF, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 324,701 |  |  | Varies(3)(4) |  |  | 0.33 | % |  |  | 2029 |  |  | One 3 years and two 5 years
IN |  | 5544 East State Boulevard LLC |  | The Waters of Fort Wayne SNF, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 543,522 |  |  | Varies(3)(4) |  |  | 0.56 | % |  |  | 2029 |  |  | One 3 years and two 5 years
IN |  | 548 South 100 West LLC |  | The Waters of Hartford City SNF, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 458,817 |  |  | Varies(3)(4) |  |  | 0.47 | % |  |  | 2029 |  |  | One 3 years and two 5 years
IN |  | 2901 West 37th Avenue LLC |  | The Waters of Hobart SNF, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 776,459 |  |  | Varies(3)(4) |  |  | 0.80 | % |  |  | 2029 |  |  | One 3 years and two 5 years
IN |  | 1500 Grant Street LLC |  | The Waters of Huntington SNF, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 599,991 |  |  | Varies(3)(4) |  |  | 0.62 | % |  |  | 2029 |  |  | One 3 years and two 5 years
IN |  | 787 North Detroit Street LLC |  | The Waters of LaGrange SNF, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 705,872 |  |  | Varies(3)(4) |  |  | 0.72 | % |  |  | 2029 |  |  | One 3 years and two 5 years
IN |  | 981 Beechwood Avenue LLC |  | The Waters of Middletown SNF, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 423,523 |  |  | Varies(3)(4) |  |  | 0.43 | % |  |  | 2029 |  |  | One 3 years and two 5 years
IN |  | 317 Blair Pike LLC |  | The Waters of Peru SNF, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 917,634 |  |  | Varies(3)(4) |  |  | 0.94 | % |  |  | 2029 |  |  | One 3 years and two 5 years
IN |  | 815 West Washington Street LLC |  | The Waters of Rockport SNF |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 423,523 |  |  | Varies(3)(4) |  |  | 0.43 | % |  |  | 2029 |  |  | One 3 years and two 5 years
IN |  | 612 East 11th Street LLC |  | The Waters of Rushville SNF |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 691,755 |  |  | Varies(3)(4) |  |  | 0.71 | % |  |  | 2029 |  |  | One 3 years and two 5 years
STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 11. Related Party Transactions and Economic Dependence (cont.) Lease Agreements with Related Parties (cont.)
|  |  |  |  |  |  | (1)(2) |  |  |  | (1)(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  | Related Party Ownership in Manager/Tenant/ Operator (1) (2) |  |  |  |  |  |  |  |  |  |  |  |  |  |
State |  | Lessor/ Company Subsidiary |  | Tenant/ Operator |  | Moishe Gubin/Gubin Enterprises LP |  |  | Michael Blisko/Blisko Enterprises LP |  |  | Average annual rent over life of lease |  |  | Annual Escalation |  | % of total rent |  |  | Lease maturity |  |  | Extension options
IN |  | 505 West Wolfe Street LLC |  | The Waters of Sullivan SNF |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 656,461 |  |  | Varies(3)(4) |  |  | 0.67 | % |  |  | 2029 |  |  | One 3 years and two 5 years
IN |  | 500 East Pickwick Drive LLC |  | The Waters of Syracuse SNF |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 465,876 |  |  | Varies(3)(4) |  |  | 0.48 | % |  |  | 2029 |  |  | One 3 years and two 5 years
IN |  | 300 Fairgrounds Road LLC |  | The Waters of Tipton SNF |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 1,058,808 |  |  | Varies(3)(4) |  |  | 1.09 | % |  |  | 2029 |  |  | One 3 years and two 5 years
IN |  | 1900 Alber Street LLC |  | The Waters of Wabash SNF East |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 592,933 |  |  | Varies(3)(4) |  |  | 0.61 | % |  |  | 2029 |  |  | One 3 years and two 5 years
IN |  | 1720 Alber Street LLC |  | The Waters of Wabash SNF West |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 310,584 |  |  | Varies(3)(4) |  |  | 0.32 | % |  |  | 2029 |  |  | One 3 years and two 5 years
IN |  | 300 North Washington Street LLC |  | The Waters of Wakarusa SNF |  |  | 50.00 |  |  |  | 50.00 | % |  |  | 938,810 |  |  | Varies(3)(4) |  |  | 0.96 | % |  |  | 2029 |  |  | One 3 years and two 5 years
IN |  | 8400 Clearvista Place LLC |  | The Waters of Castleton ALF, LLC |  |  | 50.00 |  |  |  | 50.00 | % |  |  | 381,171 |  |  | Varies(3)(4) |  |  | 0.39 | % |  |  | 2029 |  |  | One 3 years and two 5 years
IN |  | 787 North Detroit Street LLC |  | The Waters of LaGrange ALF, LLC |  |  | 50.00 |  |  |  | 50.00 | % |  |  | 119,998 |  |  | Varies(3)(4) |  |  | 0.12 | % |  |  | 2029 |  |  | One 3 years and two 5 years
IN |  | 612 East 11th Street LLC |  | The Waters of Rushville ALF, LLC |  |  | 50.00 |  |  |  | 50.00 | % |  |  | 204,703 |  |  | Varies(3)(4) |  |  | 0.21 | % |  |  | 2029 |  |  | One 3 years and two 5 years
IN |  | 505 West Wolfe Street LLC |  | The Waters of Sullivan ALF, LLC |  |  | 50.00 |  |  |  | 50.00 | % |  |  | 225,879 |  |  | Varies(3)(4) |  |  | 0.23 | % |  |  | 2029 |  |  | One 3 years and two 5 years
IN |  | 300 North Washington Street LLC |  | The Waters of Wakarusa ALF, LLC |  |  | 50.00 |  |  |  | 50.00 | % |  |  | 430,582 |  |  | Varies(3)(4) |  |  | 0.44 | % |  |  | 2029 |  |  | One 3 years and two 5 years
STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 11. Related Party Transactions and Economic Dependence (cont.) Lease Agreements with Related Parties (cont.)
|  |  |  |  |  |  | (1)(2) |  |  |  | (1)(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  | Related Party Ownership in Manager/Tenant/ Operator (1) (2) |  |  |  |  |  |  |  |  |  |  |  |  |  |
State |  | Lessor/ Company Subsidiary |  | Manager/ Tenant/ Operator |  | Moishe Gubin/Gubin Enterprises LP |  |  | Michael Blisko/Blisko Enterprises LP |  |  | Average Annual rent over life of lease |  |  | Annual Escalation |  |  | % of total rent |  |  | Lease maturity |  | Extension options
IL |  | 516 West Frech Street, LLC |  | Parker Rehab & Nursing Center, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 498,351 |  |  |  | Varies between $12,000 and $24,000 annually |  |  |  | 0.51 | % |  | 3/31/2031 |  | None
IN |  | 1316 North Tibbs Avenue Realty, LLC |  | Westpark A Waters Community, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 549,885 |  |  |  | 3.00 | % |  |  | 0.56 | % |  | 6/1/2024 |  | 2 five year
IL |  | Ambassador Nursing Realty, LLC |  | Ambassador Nursing and Rehabilitation Center II, LLC |  |  | 40.00 | % |  |  | 40.00 | % |  |  | 1,005,313 |  |  |  | 3.00 | % |  |  | 1.03 | % |  | 2/28/2026 |  | 2 five year
IL |  | Momence Meadows Realty, LLC |  | Momence Meadows Nursing and Rehabilitation Center, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 1,038,000 |  |  |  | None |  |  |  | 1.07 | % |  | 12/30/2025 |  | None
IL |  | Forest View Nursing Realty, LLC |  | Forest View Rehabilitation and Nursing Center, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 1,215,483 |  |  |  | 3.00 | % |  |  | 1.25 | % |  | 12/1/2024 |  | 2 five year
IL |  | Lincoln Park Holdings, LLC |  | Lakeview Rehabilitation and Nursing Center, LLC |  |  | 40.00 | % |  |  | 40.00 | % |  |  | 1,260,000 |  |  |  | None |  |  |  | 1.29 | % |  | 5/31/2031 |  | None
IL |  | Continental Nursing Realty, LLC |  | Continental Nursing and Rehabilitation Center, LLC |  |  | 40.00 | % |  |  | 40.00 | % |  |  | 1,575,348 |  |  |  | None |  |  |  | 1.62 | % |  | 3/1/2031 |  | None
IL |  | Westshire Nursing Realty, LLC |  | City View Multicare Center, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 1,788,365 |  |  |  | 3.00 | % |  |  | 1.84 | % |  | 9/1/2025 |  | 2 five year
IL |  | Belhaven Realty, LLC |  | Belhaven Nursing and Rehabilitation Center, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 2,134,570 |  |  |  | 3.00 | % |  |  | 2.19 | % |  | 2/28/2026 |  | 2 five year
IL |  | West Suburban Nursing Realty, LLC |  | West Suburban Nursing and Rehabilitation Center, LLC |  |  | 40.00 | % |  |  | 40.00 | % |  |  | 1,961,604 |  |  |  | None |  |  |  | 2.01 | % |  | 11/1/2027 |  | None
IN |  | 1585 Perry Worth Road, LLC |  | The Waters of Lebanon, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 116,678 |  |  |  | 3.00 | % |  |  | 0.12 | % |  | 6/1/2027 |  | 2 five year
IL |  | Niles Nursing Realty LLC |  | Niles Nursing & Rehabilitation Center LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 2,409,998 |  |  |  | 3.00 | % |  |  | 2.48 | % |  | 2/28/2026 |  | 2 five year
IL |  | Parkshore Estates Nursing Realty, LLC |  | Parkshore Estates Nursing and Rehabilitation Center, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 2,454,187 |  |  |  | 3.00 | % |  |  | 2.52 | % |  | 12/1/2024 |  | 2 five year
IL |  | Midway Neurological and Rehabilitation Realty, LLC |  | Midway Neurological and Rehabilitation Center, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  |  | 2,547,713 |  |  |  | 3.00 | % |  |  | 2.62 | % |  | 2/28/2026 |  | 2 five year
IL |  | Oak Lawn Nursing Realty, LLC |  | Oak Lawn Respiratory and Rehab center, LLC |  |  | 50.00 | % |  |  | 50.00 | % |  | $ | 637,092 |  |  |  | None |  |  |  | 0.65 | % |  | 6/1/2031 |  | None
STRAWBERRY FIELDS REIT, INC. and Subsidiaries NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 11. Related Party Transactions and Economic Dependence (cont.) Lease Agreements with Related Parties (cont.)
(1) | The interests of the two listed related parties are not held through any commonly owned holding companies. Mr. Gubin’s interests are held directly/indirectly by Gubin Enterprises LP. Mr. Blisko’s interests are held by Blisko Enterprises LP and New York Boys Management, LLC.
(2) | Each of the tenants is a limited liability company. The percentages listed reflect the owners’ percentage ownership of the outstanding membership interests in each tenant.
(3) | For the initial two years of the lease there is no escalation, commencing with year three the escalation will be 22.3%, year four the escalation will be 22.8% and for years 5 through maturity the annual escalation will be 2%.
(4) | The tenants have an option to buy the properties after 6 years for $127 million.
Schedule of Balances with Related Parties | Balances with Related Parties Schedule of Balances with Related Parties
|  | 2023 |  |  | 2022 |
|  | December 31, |
|  | 2023 |  |  | 2022 |
|  | (amounts in $000s) |
Straight-line rent receivable |  | $ | 18,921 |  |  | $ | 11,591 |
Tenant portion of replacement reserve |  | $ | 9,683 |  |  | $ | 10,227 |
Notes receivable |  | $ | 7,075 |  |  | $ | 7,816 |
Schedule of Payments From and to Related Parties | Payments from Related Parties Schedule of Payments From and to Related Parties
|  | 2023 |  |  | 2022 |
|  | Years ended December 31, |
|  | 2023 |  |  | 2022 |
|  | (amounts in $000s) |
Rental income received from related parties |  | $ | 56,988 |  |  | $ | 54,386 |

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- References No definition available. + Details
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- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates. + References No definition available. + Details
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