Global Medical REIT Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

RENT EXPENSE

RENT EXPENSE

12 Months Ended

Aug. 31, 2014

NOTE 8 RENT EXPENSE

The land lease expires in 2023 with options to renew up to 60 years. Under the terms of the land lease, annual rents increase 12.5 percent every fifth anniversary of the lease. The next land lease increase will occur in April 2017. The aggregate minimum cash payments to be paid on the non-cancelable land lease in effect as of August 31, 2014 are as follows:


Year Ending August 31:
2015	$	59,877
2016		59,877
2017		62,996
2018		67,362
2019		67,362
Thereafter		174,018
Total Payments	$	491,492