GLOBAL HEALTHCARE REIT, INC. (OTCMKTS:GBCS) Files An 8-K Termination of a Material Definitive AgreementITEM 1.02 TERMINATION OF A MATERIAL DEFINITIVE AGREEMENT
Effective August 3, 2018, the Purchase and Sale Agreement dated April 5, 2018 to which Midway Nimitz, LLC (“Midway”), a wholly subsidiary of Global Healthcare REIT, Inc., (the “Company”), had the right to purchase a skilled nursing facility located in Midway, Georgia commonly known as “Woodlands Health & Rehab Center” (the “Facility”), terminated without consummation. All earnest money ($60,000) has been returned to the Company. The Purchase and Sale Agreement was originally reported on the Company’s Current Report on Form 8-K dated April 5, 2018 and filed with the Securities and Exchange Commission on April 17, 2018.
About GLOBAL HEALTHCARE REIT, INC. (OTCMKTS:GBCS)
Global Healthcare REIT, Inc. operates as a real estate investment trust (REIT) for the purpose of investing in real estate and other assets related to the healthcare industry. The Company acquires, develops, leases, manages and disposes of healthcare real estate, and provides financing to healthcare providers. The Company owns approximately nine healthcare properties, which are leased to third-party operators under triple-net operating terms. The Company’s approximately nine assisted-living facilities include Middle GA Nursing Home; Warrenton Nursing Home (Warrenton); Southern Hills Retirement Center; Goodwill Nursing Home; Edwards Redeemer Health & Rehab; Providence of Sparta Nursing Home; Providence of Greene Point Healthcare Center; Meadowview Healthcare Center, and Golden Years Manor Nursing Home. The Company’s Southern Hills Retirement Center consists of an Assisted Living facility (ALF), an Independent Living facility (ILF) and a Skilled Nursing facility (SNF).