11 slides from Gladstone Commercial Corporation - Real Estate Investment Trust's conference presentation, June 2023
Slide 1: REIT Week Presentation
REIT Week Presentation June 2023 0
Slide 2: Legal disclaimer
Legal disclaimer Forward-Looking Statements: This presentation may include forward-looking statements within the meaning of the Securities Act of 1933 or the Securities Exchange Act of 1934. Forward-looking statements are typically identified by words such as “estimate,” “may,” “might,” “believe,” “
Slide 3: Today's Presenters
Today’s Presenters EJ Wislar Chief Investment Officer Gary Gerson Chief Financial Officer Barry Oxford Moderator Managing Director, Colliers 2
Slide 4: Company Overview
Company Overview Gladstone Commercial Corporation (“Gladstone” or the “Company”) is a publicly owned Real Estate Investment Trust (“REIT”) that completed its IPO in 2003 and is listed on Nasdaq (Ticker: GOOD) Investment Focus Portfolio Highlights ▪ Single tenant or anchored multi-tenant net lease as
Slide 5: Q1 2023 Performance
Q1 2023 Performance $ and shares in miilions, except per share amounts For the three months ended (unaudited), Quarterly Commentary Mar-23 Dec-22 Mar-22 Statement of Operations • FFO1: Generated FFO of $14.8 million, or $0.37 per diluted share, 9% Lease Revenue $36,554 $37,217 $35,531 higher than th
Slide 6: Portfolio Overview
Portfolio Overview Portfolio diversified across tenants, geographies, and asset classes By State By Asset Class As % of Annualized Straight-Line Rent As % of Annualized Straight-Line Rent Retail Medical Office 3% 1% Office Industrial 37% $119M 59% By Tenant Industry As % of Annualized Straight-Line
Slide 7: Balance Sheet Overview
Balance Sheet Overview Capitalization ($) Balance Sheet Highlights $ in millions ▪ Ample Liquidity: $82.5 million of availability in Net Debt cash and under the revolving credit facility(2) Mortgage Debt $355 Line of Credit 26 ▪ Conservative Leverage: Net total debt / gross assets = 45.2% as of Marc
Slide 8: Near Term Objectives
Near Term Objectives Continue Increasing Industrial Exposure $1,651 $1,652 Industrial % Annualized Total Gross Assets ($ in $1,555 Straight Line Rent $1,456 59% $1,358 56% millions) $1,209 51% 47% 38% 35% 2018 2019 2020 2021 2022 Q1 2023 Total Gross Assets ($ in millions) Industrial % Annualized Str
Slide 9: Recent Acquisitions
Recent Acquisitions Accretive acquisitions leased to market leading tenants in established and/or growing MSAs Asset Class: Industrial Asset Class: Industrial January 2022 – May 2023 Tenant: American Roller Tenant: Specialty Chemicals Producer ▪ 10 total acquisitions Location: Chicago, IL Location:
Slide 10: Positioned for Growth
Positioned for Growth ▪ Stable portfolio of assets in strong locations backed by credit-worthy tenants: ▪ 100% base rent collection since January 2022 ▪ 95.9% portfolio occupancy as of March 31, 2023 ▪ 6.9 years remaining average lease term as of March 31, 2023 ▪ Strong balance sheet supporting near
Slide 11: Question & Answer
<=! GLADSTONE Question & Answer