{"id":1004154983,"date":"2016-10-17T00:51:28","date_gmt":"2016-10-17T08:51:28","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004154983"},"modified":"2022-03-03T14:32:36","modified_gmt":"2022-03-03T22:32:36","slug":"global-medical-reit-continues-post-ipo-expansion","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/global-medical-reit-continues-post-ipo-expansion\/","title":{"rendered":"Global Medical REIT Continues Post-IPO Expansion"},"content":{"rendered":"<p>By Alex Girda<\/p>\n<p><strong>Baltimore<\/strong>\u2014<a href=\"https:\/\/www.globalmedicalreit.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Global Medical REIT Inc.<\/a> recently completed a slew of acquisitions for properties located in Ohio, South Dakota and New Jersey. The real estate investment trust estimates\u00a0it will have invested roughly $31 million in the 11 properties by the end of the year. Adding Global Medical\u2019s July acquisition of the Berks Eye clinic in Pennsylvania, it brings the trust\u2019s post-initial public offering deployments to roughly $40 million.<\/p>\n<div id=\"attachment_1004155078\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Berks-Eye-Clinic.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004155078\" data-attachment-id=\"1004155078\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/global-medical-reit-continues-post-ipo-expansion\/berks-eye-clinic\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Berks-Eye-Clinic.jpg\" data-orig-size=\"1028,765\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Berks Eye Clinic\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Berks Eye Clinic &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Berks-Eye-Clinic.jpg?w=1024\" class=\"wp-image-1004155078 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Berks-Eye-Clinic.jpg\" alt=\"Berks Eye Clinic\" width=\"300\" height=\"223\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Berks-Eye-Clinic.jpg 1028w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Berks-Eye-Clinic.jpg?resize=300,223 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Berks-Eye-Clinic.jpg?resize=768,572 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Berks-Eye-Clinic.jpg?resize=1024,762 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004155078\" class=\"wp-caption-text\">Berks Eye Clinic<\/p><\/div>\n<p>The acquisitions included the Brown Clinic in Watertown, S.D., the Northern Ohio Medical Specialists portfolio, and the Prospect <a href=\"https:\/\/www.commercialsearch.com\/news\/healthcare\/\" target=\"_blank\" rel=\"noopener\">medical office building<\/a> in East Orange, N.J. Nine of the eleven buildings that make up the portfolio were purchased for $25.4 million, while the final two transactions are expected to be closed in December for roughly $5.4 million. The two deals are pending the completion of certain renovations currently underway.<\/p>\n<p>According to Global Medical CEO David Young, the company worked on schedule and according to its existing strategy of acquiring state-of-the-art, purpose-built healthcare facilities. \u201cBy closing the acquisitions in a timely manner we are also able to focus our attention squarely on advancing additional acquisitions through our pipeline,\u201d Young noted in a prepared statement. Prior to the <a href=\"https:\/\/www.commercialsearch.com\/news\/investment\/\" target=\"_blank\" rel=\"noopener\">acquisitions<\/a>, the REIT already had a presence in Florida, Tennessee, Texas, North Carolina and Michigan.<\/p>\n<p><em>Image courtesy of Global Medical REIT Inc.\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two deals are still pending due to renovations that are currently underway.<\/p>\n","protected":false},"author":41,"featured_media":1004155078,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1579,21743,21783,21754,11,21742,10],"tags":[],"class_list":["post-1004154983","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-baltimore","category-deals","category-investment","category-medical-office","category-midatlantic","category-latest","category-northeast"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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