Company: GMRE
Filing Date: 2025-11-13
Form Type: 424B5
Source: 0001104659-25-110926
Chunk: 118

Company: Global Medical REIT Inc.
Filing Date: 2025-11-13
Form: 424B5
Chunk 118
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 as (1) at least 90% of the leased space in the healthcare facility is leased to persons other than TRSs
and related-party tenants, and (2) the amount paid by the TRS to rent space at the healthcare facility is substantially comparable to
rents paid by other tenants of the healthcare facility for comparable space, as described in further detail below under “—Gross
Income Tests—Rents from Real Property.” If we lease space to a TRS in the future, we will seek to comply with these requirements.

Under the second scenario, rents that we receive
from a TRS will qualify as “rents from real property” if the TRS leases a healthcare facility from us that is a “qualified
health care property” and such healthcare facility is operated on behalf of the TRS by a person who qualifies as an “independent
contractor” and who is, or is related to a person who is, actively engaged in the trade or business of operating “qualified
health care properties” for any person unrelated to us and the TRS (an “Eligible Independent Contractor”). A “qualified
health care property” includes any real property and any personal property that is, or is necessary or incidental to the use of,
a hospital, nursing facility, assisted living facility, congregate care facility, qualified continuing care facility, or other licensed
facility which extends medical or nursing or ancillary services to patients and which is operated by a provider of such services which
is eligible for participation in the Medicare program with respect to such facility. We do not currently intend to lease our healthcare
facilities to a TRS. However, we may lease healthcare facilities that we currently own or acquire to a TRS in the future, to the extent
such healthcare facilities qualify as “qualified health care properties.”

Gross Income Tests

We must satisfy two gross income tests annually
to maintain our qualification as a REIT. First, at least 75% of our gross income for each taxable year must consist of defined types of
income that we derive, directly or indirectly, from investments relating to real property or mortgages on real property or qualified temporary
investment income. Qualifying income for purposes of the 75% gross income test generally includes:

| · | rents from real property; |

| · | interest on debt secured by mortgages on real property, or on interests in real property; |

| · | dividends or other distributions on, and gain from the sale of, shares in other REIT