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
Buzz.Cooper@gladstonecompanies.com.
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.
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SOURCE Gladstone Commercial Corporation