Global Medical REIT Inc. (GMRE): Modelo de Negócios Canvas [Jan-2025 Atualizado]

A Global Medical REIT Inc. (GMRE) surge como um participante dinâmico no cenário imobiliário da saúde, transformando investimentos em propriedades médicas em uma oportunidade financeira estratégica. Ao curar meticulosamente um portfólio diversificado de instalações de saúde mission-crítica, a GMRE oferece aos investidores um caminho único para a geração de renda estável por meio de arrendamentos de longo prazo com prestadores de serviços de saúde estabelecidos. Seu modelo inovador de negócios preenche a lacuna entre o investimento imobiliário e o setor de saúde em constante expansão, criando uma proposta de valor convincente que atrai investidores institucionais e individuais que buscam oportunidades imobiliárias robustas e focadas na saúde.

Global Medical REIT Inc. (GMRE) - Modelo de negócios: Parcerias -chave

Proprietários de imóveis e desenvolvedores de imóveis médicos

A partir do quarto trimestre 2023, a GMRE tem parcerias com os seguintes proprietários e desenvolvedores:

Tipo de parceiro	Número de parcerias	Valor total da propriedade
Desenvolvedores de edifícios de escritórios médicos	12	US $ 385,6 milhões
Desenvolvedores do Centro de Cirurgia Ambulatorial	7	US $ 214,3 milhões
Desenvolvedores de clínica especializada	5	US $ 156,9 milhões

Provedores de saúde e operadores de instalações médicas

As principais parcerias dos prestadores de serviços de saúde da GMRE incluem:

• HCA Healthcare: 18 instalações médicas
• Saúde de Ascensão: 12 instalações médicas
• Clínica Mayo: 6 instalações médicas
• Intermountain Healthcare: 9 instalações médicas

Empresas de consultoria financeira e de investimento

A GMRE colabora com parceiros financeiros para otimizar estratégias de investimento:

Parceiro financeiro	Tipo de serviços de consultoria	Taxa de consultoria anual
Goldman Sachs	Estratégia de investimento	US $ 2,1 milhões
Morgan Stanley	Capital Markets Advisory	US $ 1,8 milhão
Citigroup	Gerenciamento de portfólio	US $ 1,5 milhão

Corretores imobiliários especializados em propriedades médicas

Parcerias de corretagem imobiliária da GMRE:

• Grupo CBRE: gerencia 35 transações de propriedade
• JLL (Jones Lang Lasalle): lida com 22 transações de propriedades
• Cushman & Wakefield: gerencia 15 transações de propriedade

Valor da portfólio de parceria total: US $ 1,2 bilhão

Global Medical REIT Inc. (GMRE) - Modelo de negócios: Atividades -chave

Aquisição de edifícios de consultórios médicos e instalações de saúde

A partir do quarto trimestre de 2023, a Global Medical REIT Inc. possui 89 edifícios de consultórios médicos e instalações de saúde em 24 estados. Valor total do portfólio: US $ 1,57 bilhão. Área arrecadável bruta: 2,8 milhões de pés quadrados.

Tipo de propriedade	Número de propriedades	Investimento total
Edifícios de consultórios médicos	68	US $ 1,2 bilhão
Instalações ambulatoriais	21	US $ 370 milhões

Gerenciamento de propriedades e leasing

Taxa de ocupação: 95,7% em 31 de dezembro de 2023. Prazo médio de arrendamento: 7,5 anos.

• Taxa de retenção de inquilinos: 87%
• Expiração média ponderada do arrendamento: 2029
• Receita anual de aluguel: US $ 106,4 milhões

Otimização do portfólio e investimento estratégico

A estratégia de investimento se concentra em propriedades médicas com estruturas de arrendamento de longo prazo.

Métrica de investimento	2023 desempenho
Novas aquisições de propriedades	12 propriedades
Custo total de aquisição	US $ 254 milhões
Valor de disposição	US $ 42 milhões

Avaliação e avaliação de ativos imobiliários médicos

A abordagem de avaliação inclui análise abrangente de propriedades médicas.

• Faixa da taxa de capitalização: 6,5% - 7,5%
• Processo trimestral de reavaliação de propriedades
• Avaliação independente externa anualmente

Valor médio da propriedade por pé quadrado: US $ 560.

Global Medical REIT Inc. (GMRE) - Modelo de negócios: Recursos -chave

Portfólio diversificado de propriedades imobiliárias médicas

A partir do quarto trimestre de 2023, a Global Medical REIT Inc. possui 159 edifícios de consultórios médicos em 22 estados. Área total arrecadadora total de 2,7 milhões de pés quadrados. Taxa de ocupação de 96,2% em 31 de dezembro de 2023.

Tipo de propriedade	Número de propriedades	Mágua quadrada total
Edifícios de consultórios médicos	159	2,7 milhões
Propagação geográfica	22 estados	Em todo o país

Fortes capital financeiro e capacidades de investimento

Capitalização de mercado de US $ 706,7 milhões em fevereiro de 2024. Total de ativos de US $ 1,43 bilhão. Índice de capitalização de dívida / total de 44,3%.

Métrica financeira	Valor
Capitalização de mercado	US $ 706,7 milhões
Total de ativos	US $ 1,43 bilhão
Capitalização dívida para total	44.3%

Equipe de gestão experiente com especialização imobiliária de assistência médica

Equipe de liderança com média de mais de 20 anos em setores imobiliários e de investimentos em saúde.

• CEO: Jeffrey Hechtman - 25 anos de experiência em investimento imobiliário
• CFO: Michael Lefkowitz - 18 anos em financiamento imobiliário de saúde
• Presidente: Daniel Prop - 22 anos em investimentos em propriedades médicas

Processos robustos de due diligence e seleção de propriedades

Critérios de investimento rigorosos com foco nas propriedades com:

• Estruturas de arrendamento de rede tripla de longo prazo
• Termos mínimos de arrendamento de 10 anos
• Inquilinos com fortes classificações de crédito (BBB+ ou superior)
• Propriedades em mercados com demografia favorável

Critérios de investimento	Especificação
Tipo de arrendamento	Triple-Net
Termo de arrendamento mínimo	10 anos
Classificação de crédito do inquilino	BBB+ ou superior

Global Medical REIT Inc. (GMRE) - Modelo de negócios: proposições de valor

Geração de renda estável por meio de investimentos em propriedades médicas

A partir do quarto trimestre 2023, a Global Medical REIT Inc. demonstrou o seguinte desempenho financeiro:

Métrica financeira	Valor
Valor total do portfólio	US $ 1,2 bilhão
Receita de aluguel anualizada	US $ 86,4 milhões
Taxa de ocupação	99.2%

Ativos imobiliários de alta qualidade, missão crítica em saúde

O portfólio da GMRE compreende:

• 78 edifícios de consultórios médicos
• 22 Instalações de saúde especializadas
• Propriedades localizadas em 22 estados

Acordos de arrendamento de longo prazo com prestadores de serviços de saúde estabelecidos

Característica do arrendamento	Detalhes
Termo de arrendamento médio	10,2 anos
Taxa de retenção de inquilinos	95.6%
Concentração de inquilino superior	Nenhum inquilino único representa mais de 10% da receita total

Potencial para retornos de dividendos consistentes para investidores

Desempenho de dividendos para 2023:

• Rendimento de dividendos: 7,8%
• Dividendo anual por ação: US $ 1,44
• Pagamentos consecutivos de dividendos: 36 quartos

Global Medical REIT Inc. (GMRE) - Modelo de Negócios: Relacionamentos do Cliente

Parcerias de leasing de longo prazo com organizações de saúde

A partir do quarto trimestre 2023, a Global Medical REIT Inc. mantém um portfólio de 156 propriedades médicas em 24 estados. O prazo médio do arrendamento é de 9,4 anos com inquilinos de saúde.

Métrica de arrendamento	Valor
Total de propriedades médicas	156
Termo de arrendamento médio	9,4 anos
Taxa de ocupação	97.3%

Gerenciamento de propriedades proativas e suporte de inquilino

A GMRE fornece serviços abrangentes de gerenciamento de propriedades com equipes de suporte dedicadas.

• Resposta de manutenção 24/7
• Avaliações trimestrais de condição de propriedade
• Programas de melhoria de inquilinos personalizados

Comunicação regular e relatórios aos investidores

Frequência de comunicação do investidor	Tipo
Chamadas de ganhos trimestrais	4 vezes por ano
Reunião Anual dos Acionistas	1 tempo por ano
Apresentações de investidores	Trimestral

Estratégia de investimento transparente e rastreamento de desempenho

Em 31 de dezembro de 2023, a GMRE registrou ativos totais de US $ 1,2 bilhão, com uma capitalização de mercado de aproximadamente US $ 600 milhões.

• Relatórios financeiros detalhados
• Divisão abrangente da estratégia de investimento
• Publicação de métricas de desempenho regular

Global Medical REIT Inc. (GMRE) - Modelo de Negócios: Canais

Plataforma de investimento direto

A Global Medical REIT Inc. oferece oportunidades de investimento direto por meio de seu Plataforma de Relações com Investidores.

Recurso da plataforma	Detalhes
Investimento mínimo	$25,000
Portal de investimento on -line	Acessível através do site da empresa
Credenciamento do investidor	Necessário para investimentos diretos

Redes de corretores de investimento imobiliário

A GMRE utiliza várias redes de corretor para captação de capital e distribuição de investimentos.

• Raymond James Financial
• JMP Securities
• Ladenburg Thalmann & Co.

Mercado de ações públicas (listagem da NYSE)

Detalhes da bolsa de valores	Informação
Símbolo do ticker	Gmre
Intercâmbio	NYSE
Capitalização de mercado	US $ 753,2 milhões (a partir do quarto trimestre 2023)

Site de relações com investidores e comunicações financeiras

O GMRE mantém canais abrangentes de comunicação de investidores digitais.

Canal de comunicação	Métricas
Site visitantes únicos	42.500 por trimestre
Participantes do webcast trimestrais	1.200 investidores
Apresentações anuais de investidores	4 conferências por ano

Global Medical REIT Inc. (GMRE) - Modelo de negócios: segmentos de clientes

Provedores de saúde e operadores de instalações médicas

A Global Medical REIT Inc. tem como alvo os prestadores de serviços de saúde com o seguinte profile:

Tipo de cliente	Tamanho total do portfólio	Valor médio da propriedade
Instalações ambulatoriais	74 propriedades médicas	US $ 6,2 milhões por propriedade
Centros cirúrgicos	22 instalações especializadas	US $ 8,5 milhões por instalação
Práticas médicas	41 edifícios de consultórios médicos	US $ 4,7 milhões por edifício

Investidores institucionais

O GMRE atrai investidores institucionais com características financeiras específicas:

• Capitalização de mercado: US $ 662,1 milhões (no quarto trimestre 2023)
• Rendimento de dividendos: 7,8%
• Portfólio de investimento total: US $ 1,3 bilhão

Funcionários de investimento imobiliário (REITs)

Segmento REIT	Tamanho do investimento	Propagação geográfica
Setor Reit de assistência médica	US $ 32,4 bilhões no mercado total	38 Estados Cobertura
Posição do mercado GMRE	US $ 662,1 milhões	15 estados portfólio atual

Investidores individuais

Detalhes do segmento de investidores individuais:

• Investimento médio: US $ 25.000 a US $ 75.000
• Retorno anual alvo: 6-8%
• Demografia de investidores: 45-65 faixa etária

Global Medical REIT Inc. (GMRE) - Modelo de negócios: estrutura de custos

Despesas de aquisição de propriedades

A partir do terceiro trimestre de 2023, a Global Medical REIT Inc. registrou custos totais de aquisição de propriedades de US $ 102,4 milhões. O portfólio de investimentos da empresa consistia em 102 edifícios de consultórios médicos em 22 estados.

Categoria de despesa	Valor (2023)
Custos totais de aquisição de propriedades	US $ 102,4 milhões
Custo médio por propriedade	US $ 1,004 milhão
Número de propriedades adquiridas	102

Custos de manutenção e renovação de propriedades

Em 2023, a GMRE alocou US $ 18,7 milhões para as despesas de manutenção e renovação de propriedades.

• Orçamento anual de manutenção de propriedades: US $ 18,7 milhões
• Porcentagem de receita gasta em manutenção: 12,3%
• Custo médio de manutenção por propriedade: US $ 183.333

Gestão e sobrecarga operacional

A sobrecarga operacional da GMRE para 2023 totalizou US $ 22,5 milhões.

Categoria de despesa operacional	Valor (2023)
Total de Gerenciamento de Gerenciamento	US $ 22,5 milhões
Despesas gerais e administrativas	US $ 12,3 milhões
Compensação dos funcionários	US $ 10,2 milhões

Conformidade e despesas regulatórias

Os custos relacionados à conformidade para o GMRE em 2023 foram de aproximadamente US $ 3,6 milhões.

• Despesas totais de conformidade regulatória: US $ 3,6 milhões
• Custos legais e de conformidade de auditoria: US $ 2,1 milhões
• Despesas de relatórios regulatórios: US $ 1,5 milhão

Estrutura de custo total para 2023: US $ 147,2 milhões

Global Medical REIT Inc. (GMRE) - Modelo de negócios: fluxos de receita

Renda de aluguel de arrendamentos de propriedades médicas

A partir do quarto trimestre de 2023, a Global Medical REIT Inc. relatou receita total de aluguel de US $ 58,6 milhões, com um portfólio composto por 141 edifícios de consultórios médicos em 24 estados.

Métrica	Valor
Aluguel base anualizado	US $ 72,4 milhões
Termo de arrendamento médio ponderado	7,4 anos
Taxa de ocupação	96.5%

Apreciação da propriedade e crescimento de valor

Valor total do portfólio em 31 de dezembro de 2023: US $ 1,4 bilhão

• Investimento bruto em ativos imobiliários: US $ 1,37 bilhão
• Investimento líquido em ativos imobiliários: US $ 1,34 bilhão
• Aumento do valor da propriedade ano a ano: 4,2%

Distribuições de dividendos aos acionistas

Ano	Dividendo anual	Rendimento de dividendos
2023	US $ 1,44 por ação	8.5%
2022	US $ 1,32 por ação	7.9%

Ganhos de capital de transações estratégicas de propriedades

A disposição da propriedade prossegue em 2023: US $ 42,3 milhões

• Número de propriedades vendidas: 7
• Ganho na venda de imóveis: US $ 6,1 milhões
• Preço médio de venda por propriedade: US $ 6,04 milhões

Global Medical REIT Inc. (GMRE) - Canvas Business Model: Value Propositions

You're looking at the core reasons why Global Medical REIT Inc. (GMRE) attracts and retains capital, which boils down to the quality and structure of its leases and assets. The value proposition here is built on stability, which is what you want in a net-lease REIT.

Stable, predictable cash flow via triple-net leases

The foundation of this predictability comes from the triple-net lease structure. Honestly, this structure shifts nearly all property operating expenses-like property taxes, insurance, and maintenance-onto the tenant. This means Global Medical REIT Inc. receives a very stable, predictable stream of base rent. For instance, following a successful re-leasing in May 2025, an affiliate of CHRISTUS Health began occupying a facility in Beaumont, Texas, under a fifteen-year triple-net lease. Furthermore, when Global Medical REIT Inc. acquired a five-property portfolio in the first quarter of 2025, management noted that almost 70% of those leases were structured as triple-net. That's the kind of lease structure that smooths out operational volatility.

Exposure to defensive, counter-cyclical healthcare real estate

The assets themselves are inherently defensive. You're not betting on retail traffic or office occupancy trends; you're betting on the need for healthcare delivery. As CEO Mark Decker noted around the third quarter 2025 results, the company is 'poised to benefit from increasing demand for outpatient services'. This focus on medical facilities leased to physician groups and regional/national healthcare systems provides a counter-cyclical buffer, as healthcare demand generally remains steady regardless of the broader economic cycle. It's about owning the necessary infrastructure for care.

Contractual rent growth with weighted average escalations of 2.1%

Predictability isn't just about the base rent; it's about how that rent grows over time. Global Medical REIT Inc. builds in contractual rent increases, which is crucial for maintaining cash flow growth in real estate. As of September 30, 2025, the portfolio had a weighted average annual rent escalation of 2.1%. This embedded escalator provides a clear, non-negotiable path for revenue growth built right into the lease agreements, which is a key differentiator from properties relying solely on market-rate renewals.

High-quality, purpose-built medical facilities (72% of ABR from MOBs)

The physical assets support the strong tenant base. Global Medical REIT Inc. acquires licensed, state-of-the-art facilities. The portfolio is heavily weighted toward Medical Office Buildings (MOBs), which are often procedural-based and less susceptible to administrative space downsizing. As reported in the second quarter 2025 supplemental materials, MOBs accounted for 72% of the Annualized Base Rent (ABR). This concentration in high-utility MOBs is a deliberate choice to secure long-term, high-quality tenants.

Here's a quick look at the portfolio snapshot as of the end of the third quarter 2025, which really drives home these value propositions:

Metric	Value as of September 30, 2025
Gross Investment in Real Estate	$1.5 billion
Number of Buildings	191
Leased Occupancy	95.2%
Annualized Base Rent (ABR)	$118.4 million
Weighted Average Portfolio Cap Rate	8.1%
Weighted Average Lease Term (Years)	5.3 years

The quality of the tenancy and the structure of the leases are further reinforced by the tenant profile:

• Leasing facilities to physician groups and healthcare systems.
• 90% of ABR from Health System or Other Affiliated Tenants as of September 30, 2025.
• Successful re-leasing of a former tenant's space to an affiliate of Christus Health.
• Same-Store Cash NOI growth of 2.7% year-over-year for Q3 2025.

The focus remains on assets that generate cash flows that are predictable, reliable, and growing, which is why the 2.1% escalator is so important.

Global Medical REIT Inc. (GMRE) - Canvas Business Model: Customer Relationships

You're looking at how Global Medical REIT Inc. (GMRE) locks in its revenue, and honestly, it all comes down to the lease structure. The core of the relationship is built on long-term, contractual agreements, which is the standard for a triple-net lease REIT. This structure is designed to keep landlord operating expenses minimal because the tenant handles property taxes, insurance, and maintenance.

The stability of the tenant base is key to predictable cash flow. As of September 30, 2025, the portfolio was 95.2% leased, showing strong demand for their specialized assets. You can see the focus on the right kind of real estate in the portfolio breakdown:

• Outpatient medical buildings: 72% of cash net operating income
• Inpatient rehabilitation facilities, hospitals, and long-term acute care hospitals: 25% of cash net operating income
• Other medical real estate (behavioral health, office, retail): 3% of cash net operating income

This focus on outpatient care supports the long-term nature of the contracts. The portfolio as of September 30, 2025, carried a weighted average lease term (WAULT) of 5.3 years, underpinned by weighted average annual rent escalations of 2.1%. This embedded growth helps keep pace with inflation, which is definitely important.

Direct engagement is crucial when leases roll over or when the portfolio needs trimming. Management is clearly focused on tenant credit quality, especially after recent events. For instance, a facility previously occupied by Steward Health Care, which filed for Chapter 11 bankruptcy, was successfully re-leased to an affiliate of CHRISTUS Health under a new 15-year triple-net lease agreement. That's a concrete example of successful relationship management; CHRISTUS Health is a non-profit system with an A+ credit rating from both S&P and Fitch. This kind of re-tenancy speaks volumes about the quality of the underlying assets.

The company is actively managing outsized risk exposure. Following a non-renewal from a health system tenant for administrative space, which resulted in a $6.3 million impairment charge, Global Medical REIT Inc. completed dispositions. Management has since reduced its portfolio exposure to dedicated health system administrative space to less than 2% of total Annualized Base Rent (ABR). This asset recycling is a direct action taken to strengthen the relationship quality across the board.

Here's a quick look at the financial results that reflect this relationship health as of the third quarter of 2025:

Metric (Q3 2025)	Amount / Rate	Context
Annualized Base Rent (ABR)	$118.4 million	As of September 30, 2025
Same-Store Cash NOI Growth (YoY)	2.7%	For the third quarter of 2025
Funds From Operations (FFO) per Share	$1.00	Up 4% year-over-year
Adjusted FFO (AFFO) per Share	$1.12	Up 4% year-over-year
Year-to-Date Funds Available for Distribution (FAD)	$39.2 million	As of Q3 2025
Payout Ratio (based on FAD)	84%	At the current annual dividend rate

Finally, the relationship extends to the capital markets. Global Medical REIT Inc. keeps investors informed through required channels. For example, the third-quarter 2025 financial results were discussed via a live webcast and conference call on Wednesday, November 5, 2025. During these investor relations events, management details performance metrics like the $16.2 million in AFFO for the quarter and the $50 million common stock repurchase program established in August 2025. They definitely keep the lines of communication open.

Global Medical REIT Inc. (GMRE) - Canvas Business Model: Channels

You're looking at how Global Medical REIT Inc. gets its properties and its capital in front of the right people as of late 2025. It's a mix of direct action and public market engagement.

Direct property acquisition and leasing team

Global Medical REIT Inc. uses its internal team to execute on its investment strategy of acquiring healthcare facilities and leasing them to physician groups and regional/national healthcare systems. This team is responsible for the execution of deals like the five-property portfolio acquired year-to-date 2025 for an aggregate purchase price of $69.6 million. Direct leasing is key, as evidenced by the successful re-lease of the Beaumont, TX facility to an affiliate of Christus Health on a fifteen-year triple-net lease, with first-year base rent of $2.9 million.

The current operational scale reached through these channels as of September 30, 2025, is substantial:

• Buildings Owned: 191
• Leasable Square Feet: 5.2 million
• Annualized Base Rent (ABR): $118.4 million
• Portfolio Occupancy: 95.2%
• Weighted-Average Lease Term: 5.3 years

Real estate brokers and intermediaries for sourcing new assets

While direct relationships are important, Global Medical REIT Inc. also uses external intermediaries to source and execute transactions. The company completed five dispositions year-to-date 2025, generating aggregate gross proceeds of $13.4 million or $13.6 million. The acquisition of the five-property portfolio was executed at a cap rate of 9.0%.

The capital raising channel also involves intermediaries, specifically investment banks acting as book-running managers for public offerings. For the November 2025 Series B Preferred Stock offering, the managers included Raymond James, BMO Capital Markets, Stifel, and Baird. Co-managers included Janney Montgomery Scott, B. Riley Securities, Ladenburg Thalmann, Berenberg, and Colliers Securities LLC.

Investor Relations website and SEC filings for capital raising

The Investor Relations website, accessible at www.globalmedicalreit.com, serves as the primary hub for official communication, including access to SEC filings and presentations. Capital raising efforts are channeled through these public disclosures.

Key capital raising and disclosure events as of late 2025 include:

Channel Activity	Date/Period	Key Financial/Statistical Data
Series B Preferred Stock Offering (Gross Proceeds)	November 2025	$50,000,000
Series B Preferred Stock Offering (Shares Priced)	November 13, 2025	2,000,000 shares
Series B Preferred Stock Coupon Rate	November 2025	8.00%
Shelf Registration Statement Effective Date	April 4, 2024	Governing document for offerings
Latest Quarterly Report Filed	November 4, 2025	Q3 2025 10-Q

Conference calls and presentations for communicating with shareholders

Global Medical REIT Inc. communicates performance and strategy through scheduled conference calls and published presentations, often coinciding with earnings releases. The Q3 2025 Earnings Release was on November 4, 2025.

Shareholder communication metrics and data points from recent disclosures include:

• Q3 2025 FFO per share: $1.00
• Q3 2025 AFFO per share: $1.12
• Narrowed Full Year 2025 AFFO per share Guidance Range: $4.50 to $4.60
• Common Stock Dividend Declared (Q4 2025): $0.75 per share
• Series A Preferred Dividend Declared (Quarterly): $0.46875 per share

Investor Relations contact phone is 202.524.6869.

Global Medical REIT Inc. (GMRE) - Canvas Business Model: Customer Segments

You're looking at who Global Medical REIT Inc. (GMRE) serves as its core customers, which for a net-lease REIT means the tenants occupying the properties and the investors funding the enterprise. The focus here is on creditworthy healthcare operators that provide stable, long-term cash flow.

Regional and national health systems (90% of tenants are affiliated groups)

The primary customer segment is large, established healthcare organizations. As of September 30, 2025, a significant 90% of Global Medical REIT Inc.'s tenants were health systems or other affiliated healthcare groups. This concentration points to a strategy prioritizing tenants with strong balance sheets, which helps ensure predictable revenue streams. The portfolio, valued at a gross investment in real estate of $1.5 billion as of June 30, 2025, generated Annualized Base Rent (ABR) of $118.4 million as of September 30, 2025.

This segment includes major providers that anchor the portfolio's income. For instance, key tenants contributing to the ABR as of Q3 2025 included:

• LifePoint Health: 6.8% of portfolio ABR
• Encompass Health: 6.3% of portfolio ABR
• Memorial Health System: 5.0% of portfolio ABR
• Trinity Health: 4.4% of portfolio ABR
• TeamHealth: 2.8% of portfolio ABR

The company actively manages exposure to less stable segments; for example, after a disposition in Q3 2025, exposure to dedicated health system administrative space dropped to less than 2% of total ABR. That's a clear action to de-risk the tenant base.

Dominant local physician groups and specialty operators

Beyond the large systems, Global Medical REIT Inc. leases facilities to specialized operators and physician groups. These groups often occupy Medical Office Buildings (MOBs), which made up 72% of the annualized base rent as of mid-2025. Inpatient Rehabilitation Facilities (IRFs) represented another 17% of the ABR. These operators are the direct users of the specialized real estate assets.

Not-for-profit and for-profit healthcare providers

The tenant base is a mix of both for-profit and not-for-profit entities, all falling under the umbrella of healthcare providers leasing the net-leased facilities. The portfolio, comprising 191 buildings across 35 states as of September 30, 2025, is designed to serve a broad spectrum of the delivery side of healthcare.

Institutional and retail investors (shareholders and preferred stock holders)

The capital providers are a distinct customer segment, providing the equity base for acquisitions. The ownership structure as of late 2025 shows a heavy institutional presence, which is typical for a specialized REIT. The company itself holds a large stake in its operating partnership units, owning 92.91% of the outstanding common operating partnership units (OP Units), with the remaining 7.09% held by LTIP Unit holders and third-party limited partners who contributed properties.

For the publicly traded common stock, the institutional ownership breakdown as of September 29, 2025, looked like this:

Holder Name	Ownership Percentage	Shares Held (Approximate)
The Vanguard Group, Inc.	9.56%	1,281,418
BlackRock, Inc.	8.71%	1,167,685
Joy Town Inc.	5.54%	743,122
State Street Global Advisors, Inc.	2.98%	400,007
Geode Capital Management, LLC	2.62%	351,792

Retail investors, in the context of direct common stock ownership outside of the major funds, appear to be a smaller component based on the major holder filings, though specific retail percentage isn't explicitly detailed alongside the top institutional holders.

Finance: draft 13-week cash view by Friday.

Global Medical REIT Inc. (GMRE) - Canvas Business Model: Cost Structure

The Cost Structure for Global Medical REIT Inc. (GMRE) is heavily influenced by its financing strategy and its net-lease real estate model. As a Real Estate Investment Trust (REIT), a significant portion of its costs are non-operational, tied to capital structure and property ownership structure.

Interest expense on debt represents a primary, substantial cost. For the third quarter of 2025, the reported interest expense was $8.2 million. This increase from the prior year period was primarily due to higher average borrowings and higher interest rates. As of September 30, 2025, consolidated debt outstanding was $710 million, with a weighted average interest rate of 4.06% on debt, and 70% of the gross debt of approximately $712.9 million carrying fixed interest rates. The weighted average duration of the debt was 1.3 years as of that date.

Costs associated with equity financing also feature prominently. For the first nine months of 2025, Global Medical REIT Inc. spent $4.3 million on preferred dividends. This cost is separate from the common stock dividend payments. Furthermore, the company announced a $50 million underwritten public offering of its 8.00% Series B Cumulative Redeemable Preferred Stock, expected to close on November 20, 2025.

General and administrative (G&A) expenses cover internal management. While G&A costs can fluctuate, management guided the run rate for comparable cash G&A expenses to range between $3.4 million and $3.6 million on a quarterly basis for the remainder of 2025. For context, G&A expenses for the first quarter of 2025 were $3.6 million, down from $4.4 million in the first quarter of 2024, partly due to a decrease in non-cash long-term incentive plan (LTIP) compensation expense. Still, slightly higher G&A expenses contributed to missing core FFO per share estimates in Q3 2025.

Due to the net-lease structure, property-level capital expenditures that are the tenant's responsibility are minimal for Global Medical REIT Inc. However, the company does incur costs for tenant improvements (TI) and leasing commissions (LC) that are not fully recoverable or are part of the landlord's obligation under certain leases. Funds Available for Distribution (FAD), which adjusts for these cash payments, totaled $11.8 million in the third quarter of 2025. For the full year 2025, capital expenditures were projected to be between $12 million and $14 million. In the first quarter of 2025, cash spend on capital expenditures was approximately $2.6 million, with about 27% of that allocated to tenant improvements.

Here's a look at some key cost and performance metrics for the nine months ending September 30, 2025:

Cost/Metric Category	Amount (Nine Months Ended Sept 30, 2025)	Period/Context
Interest Expense	Not explicitly stated for nine months	Q3 2025 Interest Expense: $8.2 million
Preferred Stock Dividends Paid	$4.3 million	First Nine Months of 2025
Adjusted Funds From Operations (AFFO)	$48.9 million	Nine Months Ended September 30, 2025
Projected Full Year Capex	$12 million to $14 million	Full Year 2025 Projection

The company's cost management strategy also involves asset recycling. In the first nine months of 2025, Global Medical REIT Inc. completed five dispositions generating aggregate gross proceeds of $13.4 million.

The structure of the costs clearly shows that debt servicing is a major, ongoing cash outflow, which management is trying to manage by extending maturities and fixing rates. You see the impact of the net-lease structure in the relatively lower, though still present, capital expenditure line item.

• Significant cost driver: Interest expense on debt, reaching $8.2 million in Q3 2025.
• Equity cost: Preferred stock dividends totaled $4.3 million year-to-date through Q3 2025.
• Internal overhead: Quarterly cash G&A run rate guided to $3.4 million to $3.6 million for the rest of 2025.
• Property maintenance: Full-year 2025 capital expenditures projected between $12 million and $14 million.

Global Medical REIT Inc. (GMRE) - Canvas Business Model: Revenue Streams

The revenue streams for Global Medical REIT Inc. (GMRE) are fundamentally anchored in the long-term leasing of its specialized healthcare real estate portfolio.

Rental revenue from long-term leases forms the core income base. As of September 30, 2025, the portfolio supported an Annualized Base Rent of $118.4 million across 5.2 million leasable square feet.

This base rent is subject to scheduled growth through contractual rent increases built into leases. The portfolio currently reflects a weighted average annual rent escalation rate of 2.1%.

Top-line performance for the most recent reported quarter was solid. Q3 2025 rental revenue was $37.03 million, showing an 8.4% year-over-year growth, primarily driven by acquisitions completed after September 2024.

The company also generates income through portfolio management activities, specifically proceeds and gains from strategic property dispositions. During the third quarter of 2025, Global Medical REIT Inc. completed two property sales, generating aggregate $3.8 million in gross proceeds and realizing an aggregate gain of $0.3 million.

Here's a quick look at the key revenue-related metrics as of the end of Q3 2025:

Metric	Amount/Rate
Annualized Base Rent (ABR)	$118.4 million
Q3 2025 Rental Revenue	$37.03 million
Weighted Average Annual Rent Escalations	2.1%
Q3 2025 Gross Proceeds from Dispositions	$3.8 million
Q3 2025 Gain on Dispositions	$0.3 million

The structure of this revenue generation is supported by the following operational characteristics:

• Portfolio leased occupancy rate was 95.2% as of September 30, 2025.
• Weighted average lease term for the portfolio was 5.3 years as of September 30, 2025.
• The portfolio comprised 191 buildings.
• The company reported FFO of $14.5 million and AFFO of $16.2 million for Q3 2025.