GLOBAL MEDICAL REIT INC. (NYSE:GMRE) Files An 8-K Entry into a Material Definitive Agreement


GLOBAL MEDICAL REIT INC. (NYSE:GMRE) Files An 8-K Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement; Item 2.03
Creation of a Direct Financial Obligation

Revolving Credit Facility

On December 2, 2016, Global Medical REIT Inc. (the Company),
Global Medical REIT L.P. (the Operating Partnership), as
borrower, and certain subsidiaries (such subsidiaries, the
Subsidiary Guarantors) of the Operating Partnership entered into
a senior revolving credit facility (the Credit Facility) with BMO
Harris Bank N.A., as Administrative Agent, which will initially
provide up to $75.0 million in revolving credit commitments for
the Operating Partnership. The Credit Facility includes an
accordion feature that provides the Operating Partnership with
additional capacity, subject to the satisfaction of customary
terms and conditions of up to $125.0 million, for a total
facility size of up to $200.0 million. The Subsidiary Guarantors
and the Company are guarantors of the obligations under the
Credit Facility. The amount available to borrow from time to time
under the Credit Facility is limited according to a quarterly
borrowing base valuation of certain properties owned by the
Subsidiary Guarantors.

Amounts outstanding under the Credit Facility bear annual
interest at a floating rate that is based, at the Operating
Partnerships option, on (i) LIBOR plus 2.00% to 3.00% or (ii) a
base rate plus 1.00% to 2.00%, in each case, depending upon the
Companys consolidated leverage ratio. In addition, the Operating
Partnership is obligated to pay a quarterly fee equal to a rate
per annum equal to (x) 0.20% if the average daily unused
commitments are less than 50% of the commitments then in effect
and (y) 0.30% if the average daily unused commitments are greater
than or equal to 50% of the commitments then in effect and
determined based on the average daily unused commitments during
such previous quarter.

The Operating Partnership is subject to ongoing compliance with a
number of customary affirmative and negative covenants, including
limitations with respect to liens, indebtedness, distributions,
mergers, consolidations, investments, restricted payments and
asset sales. The Operating Partnership must also maintain (i) a
maximum consolidated leverage ratio, commencing with the fiscal
quarter ending December 31, 2016 and as of the end of each fiscal
quarter thereafter, of less than (y) 0.65:1.00 for each fiscal
quarter ending prior to October 1, 2019 and (z) thereafter,
0.60:1.00, (ii) a minimum fixed charge coverage ratio of
1.50:1.00, (iii) a minimum net worth of $119,781,219 plus 75% of
all net proceeds raised through subsequent equity offerings and
(iv) a ratio of total secured recourse debt to total asset value
of not greater than 0.10:1.00.

The above description of the terms and conditions of the Credit
Facility is only a summary and is not intended to be a complete
description of the terms and conditions. All of the terms and
conditions of the Credit Facility are set forth in the Credit
Facility agreement filed as Exhibit 10.1 to this Current Report
on Form 8-K.

Item 7.01 Regulation FD Disclosure

The Company issued a press release on December 5, 2016 announcing
the Credit Facility before this report was filed. A copy of the
press release is furnished as Exhibit 99.1 to this report.

The information in Exhibit 99.1 referenced in Item 9.01 below is
being furnished and, as such, shall not be deemed to be filed for
the purposes of Section 18 of the Securities Exchange Act of
1934, as amended, or otherwise subject to the liabilities of that
Section and shall not be incorporated by reference into any
registration statement or other document filed by the Company to
the Securities Act of 1933, as amended, except as shall be
expressly set forth by specific reference in such filing.



Exhibit No. Description
10.1 Credit Facility Agreement, dated December 2, 2016 by and
among Global Medical REIT L.P., Global Medical REIT INC., the
certain Subsidiaries from time to time party thereto as
Guarantors, and BMO Harris Bank N.A., as Administrative
99.1 Press Release dated December 5, 2016.


Global Medical REIT Inc. focuses on operating as a real estate investment trust. The Company is engaged primarily in the acquisition and leasing of licensed purpose-built healthcare facilities in certain markets with various clinical operators. The Company seeks to invest in these purpose-built, specialized facilities, such as surgery centers, specialty hospitals and outpatient treatment centers. Its tenant-operators are physician group tenant-operators, community hospital tenant-operators and corporate medical treatment chain operators. Its properties include a six building, 52,266 square foot medical clinic portfolio in Tennessee; a combined approximately 27,190 square foot surgery center and medical office building located in West Mifflin, Pennsylvania; an approximately 8,840 square foot medical office building known as the Orthopedic Surgery Center, located in Asheville, North Carolina, and a 56-bed long term acute care hospital located at 1870 South 75th Street, Omaha, Nebraska.

GLOBAL MEDICAL REIT INC. (NYSE:GMRE) Recent Trading Information

GLOBAL MEDICAL REIT INC. (NYSE:GMRE) closed its last trading session 00.00 at 7.21 with 266,922 shares trading hands.