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Global Medical REIT Upsizes Credit Facility to $200M

BETHESDA, MD--It has increased the commitment amount on its senior revolving credit facility with BMO Harris Bank to $200 million plus an accordion feature that allows for up to an additional $50 million.

One of Global Medical REIT's recent acquisitions One of Global Medical REIT’s recent acquisitions

BETHESDA, MD–Global Medical REIT has more than doubled the fire power in its senior revolving credit facility with BMO Harris Bank to $200 million, plus an accordion feature allowing for an additional $50 million.

In December 2016, the REIT announced that it secured a credit facility with the bank for $75 million in revolving credit commitments and $125 million in an accordion feature. The credit facility floating rate is based on its consolidated leverage ratio, with a maximum rate of 300 basis points over LIBOR.

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Erika Morphy

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.

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