Jeffrey Busch, chairman, president, and CEO of Global Medical REIT Inc. (NYSE: GMRE), sat down for a video interview during Nareit’s REITworld: 2024 Annual Conference in Las Vegas on Nov. 18-21.
Busch highlighted the company’s success in acquiring $150 million worth of high-quality medical properties at an 8.5% capitalization rate. This marked a significant improvement compared to cap rates of 5% to 6% in previous years, reflecting advantageous investment conditions.
Looking ahead, Busch emphasized the company’s commitment to closing these acquisitions and enhancing its adjusted funds from operations (AFFO) and funds from operations (FFO). With a focus on operational efficiency and profitability, the company aims to maintain a stable income stream in a sector heavily influenced by interest rate fluctuations.
Busch expressed optimism about the potential for interest rates to decrease in 2025, which could strengthen the company’s balance sheet and financial performance.
"I do expect interest rates to come down over this year and improve our balance sheet and profitability," he said.