MCLEAN, Va., July 10, 2013 /PRNewswire/ -- Gladstone
Commercial Corporation (NASDAQ: GOOD) (the "Company") reported
today that it purchased a 320,000 square foot office building in
the technology corridor of Austin,
TX. The property is a multi-story office building that
serves as one of four national Innovation Centers for General
Motors Company. Simultaneously with the acquisition, the
Company placed a 10 year non-recourse loan through Cantor
Commercial Real Estate.
(Logo:
http://photos.prnewswire.com/prnh/20101005/GLADSTONECOMMERCIAL
)
"Acquiring this high quality facility is consistent with our
growth strategy," said Buzz Cooper, Senior Managing Director of the
Company. "The buyer and seller, as well as lender teams, worked
together seamlessly to navigate a complicated process to execute a
successful transaction for all parties."
Gladstone Commercial Corporation is a real estate investment
trust (REIT) that invests in and owns net leased industrial,
commercial and retail real property and selectively makes long-term
industrial and commercial mortgage loans. The Company currently
owns 84 properties. The Company has paid 102 consecutive
monthly cash distributions on its common stock. Prior to paying
distributions on a monthly basis, the Company paid five consecutive
quarterly cash distributions. The Company has paid 90
consecutive monthly cash distributions on its Series A preferred
stock, 81 consecutive monthly cash distributions on its Series B
preferred stock, 17 consecutive monthly cash distributions on its
Series C preferred stock and 39 consecutive monthly cash
distributions on its Senior Common Stock. The Company has never
skipped, reduced or deferred a monthly distribution since
inception, over nine years ago. Additional information can be found
at www.gladstonecompanies.com.
For Investor Relations inquiries related to any of the monthly
dividend paying Gladstone funds,
please visit www.gladstone.com.
SOURCE Gladstone Commercial Corporation