Current Report Filing (8-k)
August 21 2015 - 4:37PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 20, 2015
GLOBAL HEALTHCARE REIT, INC.
(Exact Name of Registrant as Specified in its Charter)
Utah | 0-15415 | 87-0340206 |
(State or other jurisdiction of incorporation) | Commission File Number | (I.R.S. Employer Identification number) |
3050 Peachtree Road NW, Suite 355, Atlanta GA 30305
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (404) 549-4293
______________________________________________________
(Former name or former address, if changed since last report)
___ | Written communications pursuant to Rule 425 under the Securities Act |
___ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act |
___ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act |
___ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act |
ITEM 7.01 | REGULATION FD DISCLOSURE |
On August 20, 2015, the Company issued a press release announcing that it has signed three long-term operating leases for its Greene Pointe, Providence and Warrenton facilities in Georgia, replacing current leases which are set to expire on June 30, 2016. A copy of the press release is attached hereto as Exhibit 99.1
The information in this Current Report on Form 8-K furnished pursuant to Item 7.01, including Exhibit 99.1, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liability under that section, and they shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. By filing this Current Report on Form 8-K and furnishing this information pursuant to Item 7.01, The Company makes no admission as to the materiality of any information in this Current Report on Form 8-K, including Exhibit 99.1, that is required to be disclosed solely by Regulation FD.
ITEM 9.01: EXHIBITS
| (c) | | Exhibit |
| | | |
| Item | | Title |
| 99.1 | | Press Release dated August 20, 2015 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| | Global Healthcare REIT, Inc. (Registrant) |
| | | |
| Dated: August 20, 2015 | | __/s/ Christopher Brogdon Christopher Brogdon, President |
Global Healthcare REIT Signs Three Long Term Leases to Increase Annual Rental Revenue by $646,000
ATLANTA, Georgia — August 20, 2015 — Global Healthcare REIT, Inc. (OTCQB: GBCS), a company that owns healthcare properties and leases them to senior care facility operators, has signed three long-term operating leases for its Greene Pointe, Providence and Warrenton facilities in Georgia, replacing existing leases which are set to expire on June 30, 2016.
All of the new leases will begin on July 1, 2016, with initial term of 10 years and a renewal option for an additional 10 years. The new operating leases for Green Pointe, Providence and Warrenton facilities will have an initial base rental of $40,000, $40,000, and $52,000 per month, respectively. In the aggregate, the lease payments will total $1.6 million annually, an annual increase of $646,000 from current base rent levels, and will be subject to standard annual escalators.
“These long-term leases to an experienced professional operator contain terms more reflective of the value of the properties and their cash flow generation capacity,” noted Christopher Brogdon, CEO of Global Healthcare REIT. “We see similar opportunities with our other facilities that are currently under short-term leases.”
Since the company began an acquisition program in 2013, it has purchased 11 senior healthcare facilities representing more than 1,000 beds. The company is under contract to purchase a new facility in South Carolina later this year.
About Global Healthcare REIT
Global Healthcare REIT acquires real estate properties primarily engaged in the healthcare industry, including skilled nursing homes, medical offices, hospitals and emergency care facilities. The company does not operate its own healthcare facilities, but leases its properties under long term operating leases. It currently owns interest in 11 facilities primarily across the Southeastern U.S. For further information, visit www.gbcsreit.com.
Forward-looking Statements
This press release may contain projection and other forward-looking statements. Any such statement reflects the Company’s current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur and actual results could differ materially from those presented. There can be no assurance that the Company will be able to declare and pay cash dividends to common stockholders in the future, or the frequency or amount of such dividends, if any. A discussion of important factors that could cause actual results to differ from those presented is included in the Company’s periodic reports filed with the Securities and Exchange Commission (at http://www.sec.gov).
Investor Relations Contact:
Ron Both
Liolios Group, Inc.
Tel 949-574-3860
gbcs@liolios.com
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