Deal Details
Global Medical REIT Completes $78 Million Follow-On Offering
Summary
Global Medical REIT Inc. (the “Company”) (NYSE: GMRE) recently completed a follow-on offering of 6,000,000 shares of common stock at a price of $13.00 per share, generating gross proceeds of $78.0 million. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 900,000 shares of common stock at the public offering price. The Company intends to use the net proceeds from the offering to repay a portion of the outstanding indebtedness under its credit facility, to fund acquisitions and 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 September 30, 2019, Global Medical REIT Inc.’s gross investment in real estate was approximately $830.4 million and its portfolio consisted of 101 buildings leased to an aggregate of 84 tenants with (i) an aggregate of approximately 2.6 million rentable square feet, (ii) annualized base rent of $64.6 million, (iii) a weighted average capitalization rate of 7.9% and (iv) a weighted average remaining lease term of 8.9 years. The Company is headquartered in Bethesda, Maryland.CONTACT US TO LEARN MORE
- Date
- December 2019
- Company
- Global Medical REIT Inc.
- Transaction
- Equity Capital Markets
- Sectors
-
Real Estate
Healthcare - Verticals
-
Real Estate
- Target Geography
- North America
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