Company: GMRE
Filing Date: 2025-11-14
Form Type: 424B5
Source: 0001104659-25-112543
Chunk: 124

Company: Global Medical REIT Inc.
Filing Date: 2025-11-14
Form: 424B5
Chunk 124
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 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 gross receipts or sales; and |

| · | an amount that is based on the income or profits of a debtor, as long as the debtor derives substantially all of its income from the  
 real property securing the debt by leasing substantially all of its interest in the property, and only to the extent that the amounts 
 received by the debtor would be qualifying “rents from real property” if received directly by a REIT.                                 |

If a loan contains a provision that entitles a
REIT to a percentage of the borrower’s gain upon the sale of the real property securing the loan or a percentage of the appreciation
in the property’s value as of a specific date, income attributable to that loan provision will be treated as gain from the sale
of the property securing the loan, which generally is qualifying income for purposes of both gross income tests.

Interest on debt secured by a mortgage on real
property or on interests in real property generally is qualifying income for purposes of the 75% gross income test. Other than to the
extent described below, if a loan is secured by real property and other property and the highest principal amount of a loan outstanding
during a taxable year exceeds the fair market value of the real property securing the loan as of the date the REIT agreed to originate
or acquire the loan (