Global Medical REIT Inc. Provides Acquisition Update
April 05 2017 - 8:30AM
Business Wire
Company Completes Previously Announced
Planned Acquisitions of Great Bend Regional Hospital and Oklahoma
Center for Orthopedic & Multi-Specialty Surgery
Global Medical REIT Inc. (NYSE: GMRE) (the “Company” or “GMR”),
a Maryland corporation engaged primarily in the acquisition of
licensed, state-of-the-art, purpose-built healthcare facilities and
the leasing of these facilities to leading clinical operators with
dominant market share, announced today that on March 31, 2017 it
closed on two previously-announced acquisitions for an aggregate
purchase price of $74 Million. The properties acquired were the
Great Bend Regional Hospital in Great Bend, KS and the Oklahoma
Center for Orthopedic & Multi-Specialty Surgery in Oklahoma
City, OK.
David Young, Chief Executive Officer of GMR, stated, “I am very
pleased that we were able to successfully complete the acquisition
of these two facilities during the first quarter of 2017 and that
we closed the acquisitions ahead of our previously reported
anticipated timing of during the second quarter. Both are
outstanding additions to our portfolio of properties and bring our
total acquisitions for the first quarter of 2017 to approximately
$108 million.”
About Global Medical REIT Inc.
Global Medical REIT Inc. is a Maryland corporation engaged
primarily in the acquisition of licensed, state-of-the-art,
purpose-built healthcare facilities and the leasing of these
facilities to leading clinical operators with dominant market
share. The Company intends to produce increasing, reliable rental
revenue by expanding its portfolio, and leasing each of its
healthcare facilities to a single market-leading operator under a
long-term triple-net lease. The Company’s management team has
significant healthcare, real estate and public real estate
investment trust, or REIT, experience and has long-established
relationships with a wide range of healthcare providers. The
Company intends to elect to be taxed as a REIT for U.S. federal
income tax purposes commencing with its taxable year ended December
31, 2016.
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version on businesswire.com: http://www.businesswire.com/news/home/20170405005372/en/
Investor Relations CounselThe Equity Group Inc.Jeremy Hellman,
212-836-9626Senior Associatejhellman@equityny.comorAdam Prior,
212-836-9606Senior Vice Presidentaprior@equityny.com
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