Current Report Filing (8-k)
July 05 2016 - 5:03AM
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): June 30, 2016
GLOBAL
HEALTHCARE REIT, INC.
(Exact
Name of Registrant as Specified in its Charter)
Utah
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0-15415
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87-0340206
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(State
or other jurisdiction
of
incorporation)
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Commission
File Number
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(I.R.S.
Employer
Identification number)
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8480 E. Orchard Road, Greenwood Village, CO
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80111
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(Address of principal
executive offices)
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(Zip Code)
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Registrant’s
telephone number, including area code:
(303) 449-2100
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Written
communications pursuant to Rule 425 under the Securities Act
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act
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ITEM
1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
Greene
Point Healthcare Sale
On
June 30, 2016, Global Healthcare REIT, Inc., (the “Company”), through its wholly-owned subsidiary, Wash/Greene, LLC,
closed upon and consummated a definitive purchase and sale agreement selling its skilled nursing facility located in Union Point,
Georgia. The Buyer was Greene County LTC, LLC, a Georgia limited liability company. A copy of the Purchase and Sale Agreement
is filed as Exhibit 10.1 hereto.
The
facility consists of a 71-bed skilled nursing facility known as Greene Point Healthcare Center located at 1321 Washington Highway,
Union Point, Georgia 30669. The purchase price was $3.8 million.
The
operating lease was terminated effective June 30, 2016, pursuant to a Lease Termination Agreement
Goodwill
Nursing Home
In
a transaction related to the sale of the Greene Point facility, an affiliate of the Buyer of Greene Point has executed a ten year
operating lease covering the Company’s Goodwill Nursing Home located in Macon, Georgia. The lease will not become effective
until and unless the State of Georgia approves the issuance of all licenses, permits and other regulatory approvals necessary
to recertify and reopen the facility, which was closed by Georgia regulators in January 2016. The lease is also conditional on
the termination of the current lease covering the property which is held by the former operator which filed a voluntary Chapter
11 bankruptcy petition in January 2016. The lease operator has agreed to invest not less than $1.0 million in capital improvements
in the property pending receipt of regulatory approvals.
The
Company announced the signing of the Purchase and Sale Agreement and Goodwill operating lease in a press release July 1, 2016,
a copy of which is filed as Exhibit 99.1 hereto.
ITEM
7.01 REGULATION FD DISCLOSURE
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 it 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
10.1
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Purchase
and Agreement between Wash/Greene, LLC and Greene County LTC, LLC
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99.1
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Press
Release dated July 1, 2016
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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.
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Global
Healthcare REIT, Inc.
(Registrant)
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Dated:
July 1, 2016
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/s/
Lance Baller
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Lance
Baller, Interim CEO and President
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