Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Investment in real estate:    
Land $ 164,315 $ 164,315
Building 1,036,224 1,035,705
Site improvements 21,984 21,974
Tenant improvements 67,021 66,358
Acquired lease intangible assets 138,617 138,617
Investment in real estate, Total 1,428,161 1,426,969
Less: accumulated depreciation and amortization (262,287) (247,503)
Investment in real estate, net 1,165,874 1,179,466
Cash and cash equivalents 1,333 1,278
Restricted cash 6,473 5,446
Tenant receivables, net 7,743 6,762
Escrow deposits 737 673
Deferred assets 27,995 27,132
Derivative asset 29,285 25,125
Goodwill 5,903 5,903
Other Assets 17,874 15,722
Total assets 1,263,580 1,267,700
Liabilities:    
Credit Facility, net of unamortized debt issuance costs of $6,518 and $7,067 at March 31, 2024 and December 31, 2023, respectively 592,082 585,333
Notes payable, net of unamortized debt issuance costs of $53 and $66 at March 31, 2024 and December 31, 2023, respectively 25,682 25,899
Accounts payable and accrued expenses 10,520 12,781
Dividends payable 16,157 16,134
Security deposits 4,376 3,688
Other liabilities 12,952 12,770
Acquired lease intangible liability, net 4,713 5,281
Total liabilities 666,482 661,886
Equity:    
Preferred stock, $0.001 par value, 10,000 shares authorized; 3,105 issued and outstanding at March 31, 2024 and December 31, 2023, respectively (liquidation preference of $77,625 at March 31, 2024 and December 31, 2023, respectively) 74,959 74,959
Common stock, $0.001 par value, 500,000 shares authorized; 65,587 shares and 65,565 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 66 66
Additional paid-in capital 722,623 722,418
Accumulated deficit (251,963) (238,984)
Accumulated other comprehensive income (loss) 29,285 25,125
Total Global Medical REIT Inc. stockholders' equity 574,970 583,584
Noncontrolling interest 22,128 22,230
Total equity 597,098 605,814
Total liabilities and equity 1,263,580 1,267,700
Related Party [Member]    
Investment in real estate:    
Due from related parties 363 193
Liabilities:    
Other liabilities $ 0 $ 0