Global Medical REIT announces joint venture with Heitman

Global Medical REIT (GMRE) said that in December 2024, it entered into a joint venture with Heitman. The company maintains a 12.5% investment in the joint venture and also serves as its managing member while Heitman maintains an 87.5% investment and through its voting interest controls the joint venture. In connection with its formation, Global Medical sold two assets to the joint venture receiving gross proceeds of $35.2M. The company utilized $2.1M of the proceeds to finance its initial 12.5% capital investment in the joint venture.