Company: GMRE
Filing Date: 2025-11-13
Form Type: 424B5
Source: 0001104659-25-110926
Chunk: 124

Company: Global Medical REIT Inc.
Filing Date: 2025-11-13
Form: 424B5
Chunk 124
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Ss. There are two exceptions to the related-party tenant rule described above for TRSs. Under the first exception,
rent that we receive from a TRS will qualify as “rents from real property” as long 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 tenant-operators of the healthcare facility for comparable
space. The “substantially comparable” requirement must be satisfied when the lease is entered into, when it is extended, and
when the lease is modified, if the modification increases the rent paid by the TRS. If the requirement that at least 90% of the leased
space in the related property is rented to unrelated tenants is met when a lease is entered into, extended, or modified, such requirement
will continue to be met as long as there is no increase in the space leased to any TRS or related party tenant. Any increased rent attributable
to a modification of a lease with a TRS in which we own directly or indirectly more than 50% of the voting power or value of the stock
will not be treated as “rents from real property.” If in the future we receive rent from a TRS, we will seek to comply with
this exception.

Under the second exception, a TRS is permitted
to lease properties from the related REIT as long as it does not directly or indirectly operate or manage any health care facilities or
provide rights to any brand name under which any health care facility is operated. Rent that we receive from a TRS will qualify as “rents
from real property” as long as the “qualified health care property” is operated on behalf of the TRS by an Eligible
Independent Contractor. We do not currently intend to lease 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 properties qualify as “qualified health care properties.”

| 46 |

Interest. The term “interest”
generally does not include any amount received or accrued, directly or indirectly, if the determination of such amount depends in whole
or in part on the income or profits of any person. However, interest generally includes the following:

| · | an amount that is based on a fixed percentage or percentages of