Gladstone Commercial Amends, Extends and Increases Credit Facility :: Gladstone Commercial Corporation (GOOD)

MCLEAN, VA/ACCESSWIRE/August 18, 2022/ On August 18, 2022, Gladstone Commercial Corporation (NASDAQ:GOOD) today announced that it has amended, extended and increased its syndicated revolving credit and term loan facility from $325 million to $480 million. The term loan component was increased by $135 million, while the revolving credit facility was increased by $20 million. The Company used the net proceeds to repay maturing mortgages and borrowings under the revolving credit facility. The increased availability under the facility will provide liquidity for future acquisitions and business transactions.

The new component of the $140 million Term Loan C matures in February 2028, the current maturity of the $160 million Term Loan A is extended to August 2027 and the maturity of the credit facility renewable extends until August 2026.

“We are pleased to report the successful completion of this transaction with the support of our banking group, led by Key Bank as lead arranger and book manager, as well as Bank of America, Fifth Third Bank, Huntington Bank as lead arrangers. “Lead Arrangers. The expanded facility provides us with significant liquidity and a favorable extended debt maturity profile going forward,” noted Jay Beckhorn, Treasurer of Gladstone Commercial.

“We are very pleased to welcome Bank of America as new joint lead arranger and Synovus Bank, United Bank and First Financial Bank as new lenders. This new facility will be instrumental in our continued growth,” said Gary Gerson, Chief Financial Officer of Gladstone Commercial.

About Gladstone Commercial (Nasdaq: GOOD)

Gladstone Commercial is a real estate investment trust focused on acquiring, owning and operating net leased industrial and office properties across the United States. As of June 30, 2022, Gladstone Commercial’s real estate portfolio consisted of 136 properties located in 27 states, totaling approximately 17.0 million square feet. For more information, please visit

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All statements contained in this press release, other than historical facts, may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange. Act of 1934, as amended. . Words such as “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks”, “estimates” and variations of these words and similar expressions are intended to identify forward-looking statements. Readers should not rely on forward-looking statements because the matters they describe are subject to known and unknown risks and uncertainties that could cause the business, financial condition, liquidity, results of operations, funds from Gladstone Commercial’s operations or prospects differ materially from those expressed in or implied by such statements. These risks and uncertainties are disclosed under the headings “Forward-Looking Statements” and “Risk Factors” in Gladstone Commercial’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as filed with the SEC on February 15. 2022. and certain other filings we make with the SEC. Gladstone Commercial cautions readers not to place undue reliance on these forward-looking statements, which speak only as of the date made. Gladstone Commercial undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

For further information: Gladstone Commercial Corporation, +1-703-287-5893

For any investor relations inquiries regarding any of Gladstone’s monthly dividend-paying funds, please visit

THE SOURCE: Gladstone Commercial Corporation

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Luisa D. Fuller