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Gladstone Commercial Provides a Business Update

Gladstone Commercial Provides a Business Update

MCLEAN, VA / ACCESWIRE / May possibly 9, 2022 /Gladstone Professional Corporation (NASDAQ:Superior) (“we” or “Gladstone Business”) is a genuine estate financial commitment have confidence in (“REIT”) centered on attaining, possessing and running net leased industrial and place of work homes throughout the United States. We are giving the adhering to company update pertaining to our portfolio efficiency for the duration of a time of market volatility relevant to, between other elements, the world-wide COVID-19 pandemic.

  • 100% of April income base rents have been paid out and collected.

  • Portfolio occupancy is at 97.2%, as of Could 6, 2022.

  • We stay inside a tiny subset of U.S. equity REITs that have managed their dividend charge and payment of distributions in tandem with this higher stage of rental collections through the COVID-19 pandemic.

  • On Could 4, 2022, we acquired a 260,719 sq. foot, two-property industrial portfolio, with locations in Fort Payne, AL, and Cleveland, OH for a gross order price tag of $19.3 million.

  • We executed a 5-calendar year lease with Aveda Expert services, Inc. for 29,505 sq. toes in our industrial setting up in Blaine, Minnesota bringing the house to 100% occupancy.

  • Year-to-date, we have acquired 396,719 sq. toes of industrial real estate comprised of 4 homes and a few tenants with an average remaining lease expression at acquisition of 10.9 yrs for a complete cost of $32.6 million.

  • 12 months-to-day, we extended or leased 287,483 square feet covering five tenants with an regular remaining lease term of 10.2 a long time. The annualized straight-line rent of these transactions totals $3.1 million.

  • Because January 1, 2022, and via May possibly 6, 2022, we have issued 1,036,793 shares of popular inventory for net proceeds of $22.4 million.

  • We continue to have sufficient liquidity and a robust money structure. As of Could 6, 2022, our existing readily available liquidity is about $26.8 million by way of our revolving credit score facility and money on hand.

  • We have not cut or suspended our dividend because our IPO in 2003.

We have skilled successful hire assortment through the COVID-19 pandemic however, we may well acquire additional lease relief requests as the pandemic carries on to adversely impact organization functions. On the other hand, we are not able to quantify the outcomes of possible upcoming negotiation of relief packages, the results of any tenant’s financial prospective buyers or the sum of aid requests that we will finally get or grant.

About Gladstone Commercial (Nasdaq: Fantastic)

Gladstone Industrial is a actual estate expense trust concentrated on buying, owning and running web leased industrial and place of work homes throughout the United States. As of March 31, 2022, Gladstone Commercial’s genuine estate portfolio consisted of 131 houses located in 27 states, totaling around 16.4 million square ft. For added facts remember to pay a visit to www.gladstonecommercial.com.

For Broker Submittals:

South Central:

Buzz Cooper
Co-President
(703) 287-5815
[email protected]

Southeast/Northeast:

EJ Wislar
Senior Vice President
(703) 462-1027
[email protected]

Midwest/West:

Ryan Carter
Govt Vice President
(571) 451-0019
[email protected]

Investor or Media Inquiries:

Bob Cutlip
Co-President – Gladstone Industrial Corporation
(703) 287-5878
[email protected]

All statements contained in this press launch, other than historical specifics, may well represent “forward-looking statements” within just the indicating of Segment 27A of the Securities Act of 1933, as amended, and Area 21E of the Securities Trade Act of 1934, as amended. Words and phrases this sort of as “anticipates,” “expects,” “intends,” “programs,” “thinks,” “seeks,” “estimates” and variants of these words and phrases and identical expressions are supposed to determine forward-on the lookout statements. Viewers must not count upon forward-on the lookout statements simply because the issues they explain are topic to recognised and mysterious pitfalls and uncertainties that could cause the Gladstone Commercial’s enterprise, fiscal situation, liquidity, success of operations, funds from operations or prospects to vary materially from those people expressed in or implied by these types of statements. These risks and uncertainties are disclosed below the caption “Danger Factors” of the firm’s Annual Report on Variety 10-K for the fiscal year ended December 31, 2021, as submitted with the SEC on February 15, 2022, and sure other filings we make with the SEC. Gladstone Business cautions audience not to position undue reliance on any these ahead-hunting statements which converse only as of the day built. The enterprise undertakes no obligation to publicly update or revise any forward-seeking statements, whether as a result of new info, potential events or if not.

For Investor Relations inquiries linked to any of the regular monthly dividend shelling out Gladstone funds, remember to stop by www.gladstonecompanies.com.

Resource: Gladstone Business Company

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https://www.accesswire.com/700645/Gladstone-Business-Delivers-a-Enterprise-Update