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

Annual report pursuant to Section 13 and 15(d)

Property Portfolio (Tables)

Property Portfolio (Tables)

12 Months Ended

Dec. 31, 2021


						Site		Tenant		Acquired Lease		Gross Investment in
	Land		Building			Improvements		Improvements		Intangible Assets		Real Estate
Balances as of December 31, 2020	$	128,857	$	851,427		$	15,183	$	49,204	$	98,234	$	1,142,905
Facility Acquired – Date Acquired:
El Paso – 1/12/21		899		7,549			71		160		1,338		10,017
Syracuse – 1/15/21		616		4,745			128		136		772		6,397
West El Paso – 1/15/21		851		7,160			144		567		856		9,578
Fort Worth – 3/9/21		1,817		13,020			143		395		2,069		17,444
Port St. Lucie – 4/6/21		590		3,583			70		185		359		4,787
Cape Coral and Fort Myers – 4/13/21		5,623		20,155			480		1,132		4,311		31,701
Dallas – 4/16/21		3,101		2,593			63		469		493		6,719
East Grand Forks – 4/19/21		845		6,248			278		815		2,092		10,278
Coos Bay – 4/21/21		861		5,095			56		50		410		6,472
Caledonia – 6/2/21		582		2,669			66		96		497		3,910
Tallahassee – 6/2/21		782		6,720			137		387		1,218		9,244
Forsyth – 7/28/21		1,554		9,627			348		456		7,439		19,424
North Charleston – 7/29/21		927		4,248			106		801		1,098		7,180
Munster – 9/15/21		780		4,451			161		391		953		6,736
Hialeah – 9/30/21		—		9,633			264		716		1,231		11,844
Athens – 9/30/21		564		4,106			58		63		548		5,339
Lemoyne – 12/3/21		299		3,661			113		359		904		5,336
Athens 200 – 12/13/21		327		1,336			42		134		204		2,043
Mentor – 12/16/21		2,249		6,291			354		253		1,322		10,469
Oklahoma City – 12/20/21		727		5,839			261		495		1,583		8,905
Capitalized costs⁽¹⁾		—		8,756	⁽²⁾		495		1,636		—		10,887
Total Additions:		23,994		137,485			3,838		9,696		29,697		204,710
Disposition of Prescott – 10/13/21		(791)		(3,821)			—		—		—		(4,612)
Balances as of December 31, 2021	$	152,060	$	985,091		$	19,021	$	58,900	$	127,931	$	1,343,003

(1)	Represents capital projects that were completed and placed in service during the year ended December 31, 2021 related to the Company’s existing facilities.

(2)	During the year ended December 31, 2021, the Company completed and funded a $6,814 expansion at its Oklahoma City facility that was acquired in April 2019 with Mercy Rehabilitation Hospital as the tenant.

A rollforward of the gross investment in land, building, improvements, and acquired lease intangible assets as of December 31, 2020 resulting from these acquisitions is as follows:


					Site		Tenant		Acquired Lease		Gross Investment in
	Land		Building		Improvements		Improvements		Intangible Assets		Real Estate
Balances as of December 31, 2019	$	95,381	$	693,533	$	9,912	$	33,909	$	72,794	$	905,529
Facility Acquired – Date Acquired:
High Point – 2/13/20		1,749		20,367		440		869		1,656		25,081
Clinton – 2/27/20		664		6,551		342		1,578		2,484		11,619
West Allis – 3/4/20		974		7,687		137		98		461		9,357
Grand Rapids – 3/20/20		2,951		17,341		470		450		1,582		22,794
Dumfries – 4/27/20		2,597		10,047		289		4,815		4,292		22,040
Centerville – 7/16/20		—		4,202		160		208		501		5,071
Fairfax – 7/17/20		6,731		6,642		381		2,979		3,012		19,745
Rosedale – 7/31/20		2,856		16,204		567		1,443		2,821		23,891
Lancaster – 9/18/20		696		4,269		110		116		1,114		6,305
Winston-Salem – 9/30/20		1,524		6,407		254		307		748		9,240
Decatur and Jackson – 10/20/20		2,237		7,140		284		296		955		10,912
Sheboygan and Plymouth – 10/27/20		1,088		11,212		253		225		1,046		13,824
Spring Hill and Hudson – 11/18/20		3,473		12,520		420		435		1,370		18,218
Cape Girardeau – 11/23/20		1,150		4,601		73		264		1,262		7,350
Yuma – 12/1/20		1,041		4,715		309		274		640		6,979
Las Vegas – 12/14/20		311		6,813		—		—		—		7,124
Pensacola – 12/29/20		1,786		5,742		332		411		781		9,052
Venice – 12/30/20		1,648		4,204		247		333		543		6,975
Capitalized costs⁽¹⁾		—		1,230		203		194		172		1,799
Total Additions:		33,476		157,894		5,271		15,295		25,440		237,376
Balances as of December 31, 2020	$	128,857	$	851,427	$	15,183	$	49,204	$	98,234	$	1,142,905

(3)	Represents capital projects that were completed and placed in service during the year ended December 31, 2020 related to the Company’s existing facilities.

Schedule of tangible and intangible assets

The Company performed a qualitative analysis during the fourth quarter of the fiscal year and determined that it was more likely than not that the fair value of the reporting unit was in excess of the reporting units carrying value, and as a result, a quantitative step one analysis was not necessary.

The following table summarizes the consideration paid in 2020, the fair value of the assets and liabilities assumed, and the resulting Goodwill balance: