Gladstone Commercial Expands Credit Facility to Fuel Growth

Gladstone Commercial Corporation has announced an expansion of its syndicated revolving credit and term loan facility. The facility has been increased from $475 million to $600 million, with potential to rise to $850 million. This expansion supports future acquisitions and business operations. The revolving credit facility's maturity has been extended to October 2029, with the term loans extended as well.

The financial institution group leading this transaction includes Key Bank, Bank of America, The Huntington National Bank, and Fifth Third Bank National Association. This credit facility expansion is seen as a significant step for Gladstone's strategic growth.

Gary Gerson, CFO, emphasizes the important role of new banks in the facility's success, highlighting continued support for Gladstone's growth trajectory.