Gladstone Commercial Corporation Announces Property Acquisitions in Colleyville, TX and Allen, TX

News provided by

Mar 31, 2014, 08:15 ET

MCLEAN, Va., March 31, 2014 /PRNewswire/ -- Gladstone Commercial Corporation (NASDAQ: GOOD) (the "Company") reported today that it purchased two Creme de la Creme childcare facilities located in Colleyville, TX and Allen, TX for a total purchase price of $10.5 million. The Company assumed a $6.3 million loan with Wells Fargo Commercial Mortgage as part of the transaction.

Creme de la Creme is a nationally recognized childcare and education provider, operating 24 locations across 8 states. Creme de la Creme will continue to operate in these facilities which they developed in 2000 and 2005.

"This acquisition highlights our strategic decision to expand our acquisitions in the south and specifically Dallas, Texas," said Buzz Cooper, Senior Managing Director of the Company.

Gladstone Commercial's real estate portfolio now consists of 89 properties located in 22 states, totaling approximately 9.3 million square feet.

For more information regarding Gladstone Commercial's activity in the South, please contact Buzz Cooper at [email protected].

Gladstone Commercial Corporation is a real estate investment trust (REIT) that invests in and owns net leased industrial, commercial and retail real property. 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.

Forward Looking Statement:

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 upon forward-looking statements because the matters they describe are subject to known and unknown risks and uncertainties that could cause the Company's business, financial condition, liquidity, results of operations, funds from operations or prospects to differ materially from those expressed in or implied by such statements. Such risks and uncertainties are disclosed under the caption "Risk Factors" of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2013, as filed with the SEC on February 18, 2014. The Company cautions readers not to place undue reliance on any such forward-looking statements which speak only as of the date made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Logo - http://photos.prnewswire.com/prnh/20101005/GLADSTONECOMMERCIAL

SOURCE Gladstone Commercial Corporation