Successful Retenanting of Beaumont Facility
Global Medical REIT successfully retenanted its Beaumont, Texas facility with CHRISTUS Health, which is now fully operational as of May and paying rent.
Portfolio Acquisition and High Cash Yields
Completed acquisition of a five-property portfolio of outpatient medical real estate, contributing to a total acquisition volume of $150 million for 2024 and 2025, at a blended going-in cash yield of 8.5%.
Occupancy Rate Expectations
Occupancy expected to end the year over 95% with 150,000 square feet of new leases, 130,000 of which are complete.
East Orange Property Control and Recovery
Gained control over East Orange property, aiming for stabilized occupancy of over 90% in the next 24 to 36 months, after recovering from negative cash flows.