Global Medical REIT draws $58 million under revolver for acquisition

By Tali Rackner

Minneapolis, April 24 – Global Medical REIT Inc. operating partnership Global Medical REIT LP drew roughly $58 million from its senior revolving credit facility in connection its acquisition of a 155,600 square-foot portfolio of four medical office buildings, according to an 8-K filing with the Securities and Exchange Commission.

As of April 20, the outstanding balance under the facility was about $291.8 million.

The total purchase price of the portfolio was $64.2 million, $5.5 million of which was paid in the form of common units of the operating partnership, at a per unit price of $9.

Global Medical is a Bethesda, Md.-based owner and lessor of healthcare facilities.

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