It plans to place debt on the properties after closing.

The three hospitals add approximately 196,000 square feet to Global Medical REIT's quickly growing property portfolio.

After the company went public it set about aggressively building a healthcare real estate portfolio.

In October it closed on its first set of multiple acquisitions, 11 buildings, for $30.8 million, across the three projects: the Brown Clinic in Watertown, SD; the Northern Ohio Medical Specialists portfolio in Northern Ohio; and the Prospect Medical Office Building in East Orange, NJ. It also has executed contracts for three additional acquisitions with a combined purchase price of approximately $15.2 million. These three acquisitions include six buildings covering approximately 86,800 square feet. These acquisition will close during the fourth quarter.

“Our addressable market is significant and we are just getting started,” CEO David Young says in a prepared statement. “Based on our recent closings, the properties we have under contract, and the expanding pipeline of additional acquisition opportunities we are seeing, I feel confident that we will be successful in achieving the growth and scale our investors expect in the coming months.”

As part of its Q3 earnings report, the company announced that it has received a commitment for a $75 million secured credit facility that it will use to finance acquisitions.

BETHESDA, MD–A new player in the healthcare space, the locally-based Global Medical REIT, is under contract to acquire three rehabilitation hospitals for an aggregate purchase price of $68 million. The three hospitals, are HealthSouth rehabilitation hospitals in Mesa, AZ, Altoona, PA and Mechanicsburg, PA.

The seller was Healthcare Realty Trust.

Each of the hospitals are, as their names suggest, leased to HealthSouth Corp. under long-term triple net leases that Global Medial REIT will assume upon closing.

This is an all-cash transaction for the REIT, which is using its proceeds from its recent IPO in July when it raised $150 million of gross proceeds, netting $137 million.

It plans to place debt on the properties after closing.

The three hospitals add approximately 196,000 square feet to Global Medical REIT's quickly growing property portfolio.

After the company went public it set about aggressively building a healthcare real estate portfolio.

In October it closed on its first set of multiple acquisitions, 11 buildings, for $30.8 million, across the three projects: the Brown Clinic in Watertown, SD; the Northern Ohio Medical Specialists portfolio in Northern Ohio; and the Prospect Medical Office Building in East Orange, NJ. It also has executed contracts for three additional acquisitions with a combined purchase price of approximately $15.2 million. These three acquisitions include six buildings covering approximately 86,800 square feet. These acquisition will close during the fourth quarter.

“Our addressable market is significant and we are just getting started,” CEO David Young says in a prepared statement. “Based on our recent closings, the properties we have under contract, and the expanding pipeline of additional acquisition opportunities we are seeing, I feel confident that we will be successful in achieving the growth and scale our investors expect in the coming months.”

As part of its Q3 earnings report, the company announced that it has received a commitment for a $75 million secured credit facility that it will use to finance acquisitions.