MCLEAN, Va., July 15, 2013 /PRNewswire/ -- Gladstone Commercial Corporation (NASDAQ: GOOD) (the "Company") reported today that it purchased a two-story, 115,200 square foot, two-tenant office building located in Allen, TX for $15.15 million. Acquisition financing was provided by Synovus Bank simultaneously with the acquisition.
"This acquisition highlights our strategic decision to expand our acquisition focus beyond single tenant properties to multi-tenant properties with a strong anchor tenant," said Buzz Cooper, Senior Managing Director of the Company.
Gladstone Commercial Corporation is a real estate investment trust (REIT) that invests in and owns net leased industrial, commercial and retail real property and selectively makes long-term industrial and commercial mortgage loans. The Company currently owns 85 properties. The Company has paid 102 consecutive monthly cash distributions on its common stock. Prior to paying distributions on a monthly basis, the Company paid five consecutive quarterly cash distributions. The Company has paid 90 consecutive monthly cash distributions on its Series A preferred stock, 81 consecutive monthly cash distributions on its Series B preferred stock, 17 consecutive monthly cash distributions on its Series C preferred stock and 39 consecutive monthly cash distributions on its Senior Common Stock. The Company has never skipped, reduced or deferred a monthly distribution since inception, over nine years ago. 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. SOURCE Gladstone Commercial Corporation