Gladstone Commercial Corporation Announces Expansion of Line of Credit
January 01, 2012 at 02:34 am IST
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Gladstone Commercial Corp. through its wholly-owned subsidiary, Gladstone Commercial Limited Partnership reported that it amended its line of credit which was originally established on December 28, 2010, and previously amended on December 6, 2011, to increase the current maximum availability of credit under the Credit Facility from $50.0 million to $75.0 million. The credit facility was arranged by Capital One, N.A. as administrative agent, and Branch Banking and Trust Company as an additional lender. Citizens Bank of Pennsylvania is joining the Credit Facility as an additional lender. All other terms of the agreement remained the same.
Gladstone Commercial Corporation is a real estate investment trust (REIT). The Company is focused on acquiring, owning and operating net leased industrial and office properties across the United States. It conducts its operations through a subsidiary, Gladstone Commercial Limited Partnership (Operating Partnership). It owns about 133 properties totaling 16.84 million square feet of rentable space, located in 27 states. Its properties are geographically diversified, and its tenants cover a broad cross section of business sectors and range in size from small to large private and public companies. Its properties are located in various states of the United States, such as Texas, Florida, Pennsylvania, Ohio, Georgia, North Carolina, Alabama, New Jersey, Michigan and South Carolina. The Company's properties have tenants from various industries, such as telecommunications, diversified/conglomerate services, healthcare, automotive, banking, diversified/conglomerate manufacturing, and others.
GLADSTONE COMMERCIAL CORPORATION 
