Chiron Real Estate Inc.

Listed Company

XRNCIK 0001533615NYSEAcceleratedReal Estate Investment TrustsMarylandFY ends Dec 31

Period

FY 2025

Revenue

$148.21M

Net Income

$-6.88M

Total Assets

$1.24B

Equity

$509.77M

Shares Out

13.23M

Op. Cash Flow

$73.61M

Business

Global Medical REIT Inc. is an internally managed REIT that acquires healthcare facilities and leases those facilities to physician groups and regional and national healthcare systems. It provides ownership, leasing and property-management services for medical office buildings, inpatient rehabilitation facilities and other specialized healthcare properties, typically under triple-net leases with some multi-tenant structures. Its operations include holding properties through an operating partnership and participating in a joint venture to source and manage assets. It focuses on U.S. secondary and suburban markets and distributes space via long-term leases to healthcare operators.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Rental revenue	148	138	141	137	116
Other income	526,000	370,000	115,000	116,000	132,000
Total revenue	148	139	141	137	116
General and administrative	20	21	17	17	16
Operating expenses	33	29	28	25	15
Depreciation expense	44	40	41	40	34
Amortization expense	15	15	17	17	13
Interest expense	32	29	31	25	—
Transaction expense	0	155,000	44,000	354,000	151,000
Total expenses	143	135	134	124	—
Income before other income (expense)	5	4	7	13	17
Gain on sale of investment properties	1	4	16	7	1
Impairment of investment properties	−13	−2	0	0	—
Equity loss from unconsolidated joint venture	−150,000	−20,000	0	0	—
Loss on extinguishment of debt	0	0	−868,000	0	0
Net (loss) income	−7	7	22	20	18
Less: Preferred stock dividends	−6	−6	−6	−6	−6
Less: Net loss (income) attributable to noncontrolling interest	1	−59,000	−1	−854,000	−720,000
Net (loss) income attributable to common stockholders	−12	811,000	15	13	12
Net (loss) income attributable to common stockholders per share - basic	−0.91	0.06	1.13	0.2	0.19
Net (loss) income attributable to common stockholders per share - diluted	−0.91	0.06	1.13	0.2	0.19
Weighted average shares outstanding - basic	13	13	13	65	61
Weighted average shares outstanding - diluted	13	13	13	65	61

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Land	170	174	164	168	152
Building	1,072	1,044	1,036	1,080	985
Site improvements	26	24	22	22	19
Tenant improvements	80	70	66	66	59
Acquired lease intangible assets	145	139	139	—	—
Investment in real estate, Total	1,493	1,451	1,427	1,484	1,343
Less: accumulated depreciation and amortization	−338	−289	−248	−198	−143
Investment in real estate, net	1,155	1,162	1,179	1,286	1,200
Cash and cash equivalents	9	7	1	4	7
Restricted cash	3	2	5	10	6
Tenant receivables, net	7	7	7	8	6
Escrow deposits	556,000	711,000	673,000	8	6
Deferred assets	29	28	27	30	25
Derivative assets	6	19	25	35	1
Goodwill	6	6	6	6	6
Investment in unconsolidated joint venture	2	2	—	—	—
Other assets	25	22	16	7	—
Total assets	1,242	1,256	1,268	1,393	1,263
Credit Facility, net of unamortized debt issuance costs of $10,476 and $4,868 at December 31, 2025, and December 31, 2024, respectively	653	632	585	636	515
Notes payable, net of unamortized debt issuance costs of $0 and $22 at December 31, 2025, and December 31, 2024, respectively	1	14	26	58	57
Accounts payable and accrued expenses	18	16	13	14	10
Dividends payable	12	17	16	16	16
Security deposits	3	3	4	5	5
Other liabilities	19	14	13	7	8
Acquired lease intangible liability, net	5	4	5	8	8
Total liabilities	712	701	662	744	626
Commitments and Contingencies	—	—	—	—	—
Preferred stock, $0.001 par value, 10,000 shares authorized; 5,155 shares and 3,105 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively (liquidation preference of $128,875 and $77,625 at December 31, 2025 and December 31, 2024, respectively)	124	75	75	75	75
Common stock, $0.001 par value, 100,000 shares authorized; 13,235 shares and 13,374 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	13,000	13,000	66,000	66,000	65,000
Additional paid-in capital	730	734	722	722	711
Accumulated deficit	−350	−294	−239	−199	−157
Accumulated other comprehensive income	6	19	25	35	−7
Total Chiron Real Estate stockholders' equity	510	534	584	633	623
Noncontrolling interest	20	22	22	16	15
Total equity	530	556	606	649	638
Total liabilities and equity	1,242	1,256	1,268	1,393	1,263

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Amortization of acquired lease intangible assets	14	14	17	17	13
Amortization of above market leases, net	648,000	1	1	1	520,000
Amortization of debt issuance costs and other	3	2	2	2	2
Stock-based compensation expense	4	5	4	5	6
Capitalized preacquisition and other costs charged to expense	136,000	242,000	177,000	472,000	168,000
Reserve for uncollectible accounts, net	—	822,000	852,000	0	183,000
Loss on extinguishment of debt	—	—	868,000	—	—
Other	147,000	136,000	433,000	21,000	62,000
Tenant receivables	199,000	−1	426,000	−3	−657,000
Deferred assets	−1	−2	−3	−4	−5
Other assets and liabilities	5,000	2	542,000	586,000	12,000
Accounts payable and accrued expenses	3	3	−2	4	2
Security deposits	124,000	−364,000	−2	921,000	200,000
Net cash provided by operating activities	74	70	68	77	69
Purchase of land, buildings, and other tangible and intangible assets and liabilities	−71	−82	−442,000	−151	−192
Net proceeds from sale of investment properties	23	57	79	18	5
Investment in unconsolidated joint venture	—	−2	—	—	—
Distribution of capital from unconsolidated joint venture	135,000	—	—	—	—
Escrow deposits for purchase of properties	290,000	−290,000	—	98,000	2
Advances received from (made to) related parties	108,000	−77,000	7,000	−38,000	−60,000
Capital expenditures on existing real estate investments	−11	−13	−10	−5	—
Leasing commissions	−2	−6	−1	—	—
Net cash (used in) provided by investing activities	−60	−46	68	−137	−195
Net proceeds received from common equity offerings	—	11	—	10	206
Net proceeds received from preferred stock offering	49	—	—	—	—
Escrow deposits required by third party lenders	—	252,000	7	−2	−3
Repayment of notes payable	−13	−12	−1	−1	−8
Repayment of CMBS loan defeasance	—	—	−32	—	—
Proceeds from Credit Facility	138	144	83	139	222
Repayment of Credit Facility	−112	−100	−136	−16	−224
Payment of debt issuance costs	−9	—	−13,000	−3	−6
Repurchase of common stock	−6	—	—	—	—
Dividends paid to common stockholders, and OP Unit and LTIP Unit holders	−52	−60	−59	−58	−53
Dividends paid to preferred stockholders	−6	−6	−6	−6	−6
Net cash provided by financing activities	−10	−22	−144	62	128
Net increase (decrease) in cash and cash equivalents and restricted cash	3	2	−8	2	2
Cash payments for interest	28	27	30	22	18
Accrued dividends payable	12	17	16	16	16
Interest rate swap agreements fair value change recognized in other comprehensive (loss) income	−13	7	10	−41	−12
LTIP Units and OP Units redeemed for common stock	1	910,000	427,000	682,000	1
Accrued capital expenditures and leasing commissions included in accounts payable and accrued expenses	1	2	2	1	1
Recognition of lease liability related to right of use asset	6	—	5	—	—
Write off of unamortized debt issuance costs from loan defeasance	—	—	240,000	—	—

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