Deal Details
Global Medical REIT Completes $80.3 Million Follow-On Offering
Summary
Global Medical REIT (the “Company”) (NYSE: GMRE) recently completed a follow-on offering of 8,232,702 shares of common stock (including the overallotment option) at a price of $9.75 per share, generating gross proceeds of approximately $80.3 million. The Company intends to use the net proceeds from its direct sale of common shares to repay a portion of the outstanding indebtedness under its credit facility and to fund acquisitions, including the acquisition of a portfolio of four inpatient rehabilitation facilities from affiliates of CNL Healthcare Properties, Inc. (the “CNL Portfolio”), assuming the Company elects to proceed with the closing following completion of its due diligence review, or for other general corporate purposes.
Baird served as a joint bookrunner on this offering.
About
Global Medical REIT Inc. is a net-lease medical office REIT that acquires purpose-built healthcare facilities and leases those properties to strong healthcare systems and groups with leading market share. The Company’s management team has significant healthcare, real estate and REIT experience and has long-established relationships with a wide range of healthcare providers. As of December 31, 2018, Global Medical REIT’s portfolio consisted of 50 facilities with an aggregate of (i) approximately 2.1 million rentable square feet and (ii) approximately $50.2 million of annualized base rent. The Company is headquartered in Bethesda, Maryland.CONTACT US TO LEARN MORE
- Date
- March 2019
- Company
- Global Medical REIT
- Transaction
- Equity Capital Markets
- Sectors
-
Real Estate
Healthcare - Verticals
-
Real Estate
- Target Geography
- North America
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