Global Medical REIT Inc., a Maryland corporation engaged primarily in the acquisition of licensed, state-of-the-art, purpose-built healthcare facilities and the leasing of these facilities to leading clinical operators with dominant market share, announced that the company has increased the commitment amount on the previously-announced senior revolving credit facility with BMO Harris Bank N.A. to $200 million plus an accordion feature that allows for up to an additional $50 million of principal amount subject to certain conditions.

This Credit Facility is being increased in response to strong interest from the eight Credit Facility syndicate members. BMO Capital Markets, SunTrust Robinson Humphrey, and Citizens Bank acted as Joint Lead Arrangers and Joint Book runners on the transaction. The lenders under the Credit Facility include BMO Harris Bank N.A., Citizens Bank N.A., SunTrust Bank, The Huntington National Bank, Comerica Bank, KeyBank National Association, Franklin Synergy Bank and Branch Banking and Trust Company.

In a prior press release dated December 5, 2016, GMR had announced that the Company and certain of its subsidiaries reached agreement with BMO on the Credit Facility which would initially provide up to $75 million in revolving credit commitments and $125 million in an accordion feature.The Company’s operating partnership, Global Medical REIT L.P., is the borrower under the Credit Facility, and the Company and certain of the operating partnership’s subsidiaries 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 subsidiaries of the Company.As detailed in the credit agreement, the Credit Facility bears annual interest at a floating rate that is based on the Company’s consolidated leverage ratio, with a maximum rate of 300 basis points over LIBOR, and the Company is obligated to pay a quarterly fee that is based upon the average daily unused commitments.

Additionally, the Company’s ability to borrow under the Credit Facility is subject to its ongoing compliance with a number of customary affirmative and negative covenants, as outlined in the credit agreement.

David Young, Chief Executive Officer of GMR, stated, “The fact that we were ultimately able to secure commitments of $200 million, with an accordion feature for an additional $50 million, from BMO and its syndicate members provides great validation of our business. Last December we announced an agreement in principle which referenced total credit of up to $75 million, so we are extremely encouraged by the response from the syndicate which has allowed us to access greatly expanded capital. Our acquisition pipeline is very healthy and growing, and this capital will allow us to move aggressively to sign and close transactions.”

Don McClure, Chief Financial Officer of GMR, stated, “Closing the upsized Credit Facility highlights our success in partnering with banking institutions such as BMO and the syndicate group who bring a tremendous amount of industry experience in healthcare real estate. We are executing on our multi-faceted approach toward building financials reflective of key metrics ultimately driving continued investor returns. This Credit Facility upsize is a major milestone in our plan and yet another indicator of how lending institutions are demonstrating confidence in our experienced management team’s ability to perform.”