Global Medical REIT Inc. reported its financial results for the second quarter and first half of 2025, showing a total revenue of $37.97 million for the three months ended June 30, 2025, an increase of 2.1% from $34.24 million in the same period of 2024. For the six months ended June 30, 2025, total revenue reached $72.59 million, up from $69.36 million year-over-year. The growth in revenue was primarily driven by increased rental income from acquisitions made in the past year, which contributed to a rental revenue increase to $37.88 million in Q2 2025, compared to $34.21 million in Q2 2024.
The company reported a net income of $0.59 million for the second quarter of 2025, a significant recovery from a net loss of $1.95 million in the same quarter of the previous year. For the first half of 2025, net income was $4.32 million, compared to a modest profit of $0.36 million in the first half of 2024. The improved profitability was attributed to a combination of higher rental revenues and gains from property sales, which totaled $1.57 million for the first half of 2025, contrasting with a loss of $3.38 million in the prior year.
In terms of operational developments, Global Medical REIT completed the acquisition of a five-property portfolio of medical real estate for $69.6 million during the first half of 2025. This acquisition added approximately 486,598 square feet of leasable space to the company's portfolio. Additionally, the company disposed of three properties during the same period, generating gross proceeds of $9.6 million and realizing a gain of $1.6 million. As of June 30, 2025, the company owned 193 properties with a total of 5.2 million square feet of leasable space.
The company’s total assets increased to $1.30 billion as of June 30, 2025, up from $1.26 billion at the end of 2024, while total liabilities rose to $771.94 million from $700.57 million. The increase in liabilities was primarily due to higher borrowings under the company's credit facility, which amounted to $698.83 million as of June 30, 2025. The weighted average interest rate on the company's debt was reported at 4.09%, up from 3.75% at the end of 2024.
Looking ahead, Global Medical REIT anticipates continued growth driven by its strategic focus on acquiring healthcare properties that meet the evolving needs of the healthcare delivery system. The company is also in discussions to refinance its existing debt, particularly the $350 million Term Loan A, which matures in May 2026. Management expressed confidence in maintaining compliance with financial covenants and expects to complete refinancing transactions in the fourth quarter of 2025, contingent on market conditions.
About Global Medical REIT Inc.
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