Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

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Subsequent Events
9 Months Ended
Sep. 30, 2015
Subsequent Events:  
Subsequent Events

Note 10 – Subsequent Events

 

                On October 6, 2015, the Company entered into an asset purchase agreement with an unrelated party R&K Healthcare Real Estate, L.L.C., a Texas limited liability company, to acquire an 84-bed, approximately 104,369 square foot acute care hospital facility located on 18 acres in Lancaster, Texas, along with all real property and improvements for approximately $20.5 million. The property will be leased back via a triple net lease agreement that expires in 2035. The tenant has two successive options to renew the lease for five year periods. The acquisition will be funded by third party debt and convertible borrowings from the Company’s majority shareholder. The acquisition is expected to be completed by no later than December 31, 2015.

 

                In October 2015 the Company paid the dividend that was declared on September 17, 2015 in the amount of $0.0852 per share to the holders of the Company’s common stock of record as of the close of business on September 29, 2015. The amount of the dividend paid was $21,300.

               

                On October 16, 2015, the Company declared a dividend of $0.0852 per share payable to the holders of its common stock of record at the close of business October 30, 2015. Dividends shall be paid no later than the 20th day of the following month subject to compliance with applicable provisions of the Maryland General Corporation Law. The aggregate amount of the dividend to be paid was $21,300.