Global Medical REIT Inc.

Welcome to the Global Medical REIT First Quarter 2021 Earnings Call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the question queue, you may press star, then one on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star and zero. I would now like to turn the conference over to Evelyn Inferno, Investor Relations. Please go ahead.

Thank you, Operator. Good morning, everyone, and welcome to Global Medical Week first quarter 2021 earnings conference call. On the call today, we have Jeff Bush, Chief Executive Officer, Alfonso Leone, Chief Investment Officer, and Bob Kiernan, Chief Financial Officer. Please note the use of forward-looking statements by the company on this conference call. Statements made on this call may include statements which are not historical facts and are considered forward-looking, including statements related to the COVID-19 pandemic and its effect on our tenants' business. The company intends these forward-looking statements to be covered by the Safe Harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and is making this statement for purpose of complying with those Safe Harbor provisions. Furthermore, Actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond the company's control, including without limitation to those contained in the company's 10-K for the year ended December 31, 2020, and its other securities and exchange commission filings. The company assumes no obligation to update publicly or any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, on this conference call, the company may refer to certain non-GAAP financial measures, such as funds from operations and adjusted funds from operations. You can find a tabular reconciliation of these non-GAAP financial measures to the most currently comparable GAAP numbers in the company's earnings release and in filing to the Securities and Exchange Commission. Additional information may be found on the investor relations page of the company's website at www.globalmedicalreit.com. I'd now like to turn the call over to Jeff Bush, Chief Executive Officer of Global Medical REIT. Jeff?

Thank you, Evelyn. Good morning, and thank you for joining our first quarter 2021 earnings conference call. Joining me today are Alfonso Leon, our Chief Investment Officer, and Bob Tiernan, our Chief Financial Officer. We hope that everyone continues to stay healthy and is doing well. GMRE was founded with the vision to create a high-quality portfolio of medical facilities aligned with the strongest operators and healthcare systems in their local markets with the expectation that these properties would generate stable revenue and return for our investors. Coming off a strong year in 2020, as vaccinations continue to be administered and we start to see a light at the end of the tunnel, we are well positioned to continue to execute on our strategy in 2021. With respect to earnings in the quarter, we grew our quarterly FFO per share and unit by 21 percent to 23 cents per share, and our FFO per share and unit by 20 cents to 24 cents compared to the first quarter of 2020. With a focus on both deleveraging and expanding financial capacity to execute on our growth plan, During the first quarter, we raised a total of $150 million from equity issuances, including $35 million from ATM issuances and $115 million from an underwritten equity offering in March. Despite the fact that we're seeing increasing competition for acquisitions in our target market, we were able to put this capital to work by completing 101 million of acquisitions at a 7.4 percent weighted average cap rate to date in 2021. While we are pleased with this acquisition volume so far in 21, our activity in any quarterly period isn't indicative of our annual expectations. We currently expect that market patterns will result in a more typical annual acquisition total. After quarter-end, we amended and restated our credit facility to increase our borrowing capacity by $150 million, to reduce our borrowing costs, convert to an unsecured facility, and extended our debt maturity. Our amended credit facility and recent equity raises provided us with the additional financial flexibility as we evaluate new acquisitions to grow our portfolio. We are off to a good start this year, and we look forward to continuing our success while executing on our growth plan through the rest of 2021. Now I will turn over to Alfonso.