v3.25.1
Leases (FY) (Tables)
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Schedule of Future Minimum Lease Payments

Future minimum lease payments for the twelve months ending December 31, for each of the next five years and thereafter is as follows:

 
 
 
 
 
 
 
 
 
 
(Amounts in 000’s)
 
 
Future
rental
payments
 
 
Accretion of
lease liability(1)
 
 
Operating
lease
obligation
2025
 
 
$501
 
 
$(128)
 
 
$373
2026
 
 
658
 
 
(134)
 
 
524
2027
 
 
671
 
 
(90)
 
 
581
2028
 
 
685
 
 
(42)
 
 
643
2029
 
 
230
 
 
(3)
 
 
227
Thereafter
 
 
—
 
 
—
 
 
—
Total
 
 
$2,745
 
 
$(397)
 
 
$2,348
 
 
 
 
 
 
 
 
 
 

(1)
Weighted average discount rate 7.98%.
 
 
 
 
 
 
 
 
 
 
(Amounts in 000's)
 
 
Future Rental
Payments
 
 
Accretion of
Lease
Liability(1)
 
 
Operating
Lease
Obligation
2025
 
 
$672
 
 
$(175)
 
 
$497
2026
 
 
658
 
 
(134)
 
 
524
2027
 
 
671
 
 
(91)
 
 
580
2028
 
 
685
 
 
(42)
 
 
643
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Amounts in 000's)
 
 
Future Rental
Payments
 
 
Accretion of
Lease
Liability(1)
 
 
Operating
Lease
Obligation
2029
 
 
230
 
 
(2)
 
 
228
Total
 
 
$2,916
 
 
$(444)
 
 
$2,472
 
 
 
 
 
 
 
 
 
 
1.
Weighted average discount rate 7.98%
Schedule of Future Minimum Lease Receivables

Future minimum lease receivables for the twelve months ending December 31, for each of the next five years and thereafter is as follows:

 
 
 
 
(Amounts in 000’s)
 
 
Lease Receivables
2025
 
 
$3,887
2026
 
 
5,249
2027
 
 
5,323
2028
 
 
5,137
2029
 
 
2,336
Thereafter
 
 
1,674
Total
 
 
$23,606
 
 
 
 
 
 
 
 
(Amounts in 000's)
 
 
Future Lease
Receivables
2025
 
 
$5,177
2026
 
 
5,249
2027
 
 
5,323
2028
 
 
5,137
2029
 
 
2,336
Thereafter
 
 
1,674
Total
 
 
$24,896
 
 
 
 
Schedule of Future Minimum Lease Receivables Leases to Third-Parties  

The following table summarizes the Company’s leases to third-parties as of December 31, 2024. Each lease is structured as “triple-net” and contains specific rent escalation amounts ranging from 1.0% to 2.5% annually. Further, each lease has one or more renewal options. For those facilities subleased by the Company, the renewal option in the sublease agreement is dependent on the Company’s renewal of the prime lease agreement.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration
 
 
2025 Cash
Facility Name
 
 
Operator Affiliation1
 
 
Date
 
 
Annual Rent
 
 
 
 
 
 
 
 
 
(Thousands)
Owned
 
 
 
 
 
 
 
 
 
Eaglewood Village
 
 
Aspire Regional Partners2
 
 
11/30/2028
 
 
$630
Eaglewood Care Center
 
 
Aspire Regional Partners
 
 
11/30/2028
 
 
841
Southland Healthcare and Rehabilitation Center
 
 
Beacon Health Management4
 
 
10/31/2024
 
 
516
Hearth & Care of Greenfield
 
 
Aspire Regional Partners
 
 
11/30/2028
 
 
376
The Pavilion Care Center
 
 
Aspire Regional Partners
 
 
11/30/2028
 
 
352
Autumn Breeze Healthcare Center
 
 
C.R. Management3
 
 
9/30/2030
 
 
1,010
Coosa Valley Health Care
 
 
C.R. Management
 
 
8/31/2030
 
 
1,126
Georgetown Healthcare & Rehabilitation
 
 
Oak Hollow Healthcare Management5
 
 
10/31/2032
 
 
351
Sumter Valley Nursing and Rehab Center
 
 
Oak Hollow Healthcare Management
 
 
10/31/2032
 
 
614
Subtotal Owned Facilities(9)
 
 
 
 
 
 
 
 
5,816
Leased
 
 
 
 
 
 
 
 
 
Covington Care Center
 
 
Aspire Regional Partners
 
 
11/30/2028
 
 
841
Subtotal Leased Facilities(1)
 
 
 
 
 
 
 
 
841
Total(10)
 
 
 
 
 
 
 
 
$6,657
 
 
 
 
 
 
 
 
 
 

(1)
Represents the number of facilities which are leased or subleased to separate tenants, which tenants are affiliates of the entity named in the table above.
(2)
Aspire Regional Partners represents 46% of Real Estate 2025 cash rent.
(3)
C.R. Management represents 32% of Real Estate 2025 cash rent.
(4)
The lease with Beacon Health Management was terminated in February 2025.
(5)
The lease with Oak Hollow Healthcare Management was terminated in Mach 2025.