Gladstone Commercial Corporation Announces Sale of Georgia Medical Office Portfolio

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[{"type":"text","content":"MCLEAN, VA / ACCESSWIRE / August 8, 2024 / Gladstone Commercial Corporation (Nasdaq:GOOD) (\"Gladstone Commercial\") announced that on August 7, 2024, it sold two medical office properties located in the Atlanta MSA leased to Northside Hospital, totaling 26,331 square feet at a cap rate of 5.97%.Gladstone Commercial realized a leveraged internal rate of return of approximately 13.2% on the assets, which were originally acquired as a component of an 8-property portfolio transaction in 2007.\"We recognized the opportunity to realize a strong outcome from the sale of two medical office assets. We intend to recycle this capital into the industrial sector, which will allow Gladstone Commercial to continue its stated goal of increasing industrial concentration while gaining additional yield,\" stated Todd Alan McDonald, Senior Vice President of Gladstone Commercial.\"The Northside Hospital team has been a wonderful partner for many years,\" stated Perry Finney, Senior Vice President of Gladstone Commercial. \"We are very pleased with the result.\"\"This sale is a strong outcome for the legacy portfolio and reinforces our overall migration to the industrial sector,\" added Buzz Cooper, President of Gladstone Commercial.About Gladstone Commercial Corporation (Nasdaq:GOOD)Gladstone Commercial is a real estate investment trust focused on acquiring, owning and operating net leased industrial and office properties across the United States. As of June 30, 2024, Gladstone Commercial's real estate portfolio consisted of 136 properties located in 27 states, totaling approximately 16.8 million square feet. For additional information please visit www.gladstonecommercial.com.For Broker Submittals (South Central):For Asset Management Matters (South Central and West):Todd Alan McDonaldPerry FinneySenior Vice PresidentSenior Vice President(703) 287-5895(703) [email protected]@gladstone.com Investor or Media Inquiries: Buzz CooperCatherine GerkisPresidentDirector of Investor Relations/ESG(703) 287-5815(703) [email protected]@gladstone.comAll 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, a...

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