BETHESDA, MD–Global Medical REIT, which has been on an acquisition tear since its initial public offering last year, has closed on two previously-announced transactions a bit earlier than it anticipated.
Originally it said that its purchase of the Great Bend Regional Hospital in Great Bend, KS and the Oklahoma Center for Orthopedic & Multi-Specialty Surgery in Oklahoma City, OK, would close in the second quarter. The deals closed in the first quarter, the REIT now reports. Great Bend Regional Hospital traded for $24.5 million and the Oklahoma facility sold for $49.8 million.
Global Medical REIT announced the two deals along with seven others in February. All together they totaled $103.4 million.
Year to date, the REIT has acquired $108 million in healthcare properties.
Last July the company raised $150 million of gross proceeds in its initial public offering netting $137 million.
Last month it upsized its senior revolving credit facility with BMO Harris Bank to $200 million, plus an accordion feature allowing for an additional $50 million.
BETHESDA, MD–Global Medical REIT, which has been on an acquisition tear since its initial public offering last year, has closed on two previously-announced transactions a bit earlier than it anticipated.
Originally it said that its purchase of the Great Bend Regional Hospital in Great Bend, KS and the Oklahoma Center for Orthopedic & Multi-Specialty Surgery in Oklahoma City, OK, would close in the second quarter. The deals closed in the first quarter, the REIT now reports. Great Bend Regional Hospital traded for $24.5 million and the Oklahoma facility sold for $49.8 million.
Global Medical REIT announced the two deals along with seven others in February. All together they totaled $103.4 million.
Year to date, the REIT has acquired $108 million in healthcare properties.
Last July the company raised $150 million of gross proceeds in its initial public offering netting $137 million.
Last month it upsized its senior revolving credit facility with BMO Harris Bank to $200 million, plus an accordion feature allowing for an additional $50 million.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
