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Gladstone Commercial Announces Issuance of $85 Million of Senior Unsecured Notes

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  • Gladstone Commercial Corporation announced that its subsidiary Gladstone Commercial Limited Partnership closed $85 million in senior unsecured notes due December 15, 2030.
  • The notes carry a 5.99% interest rate & were sold in a private placement to institutional investors.
  • Proceeds will be used to repay outstanding indebtedness on the senior unsecured revolving credit facility & for general corporate purposes.
  • President Buzz Cooper stated the issuance marks the second long-term unsecured debt offering & continues the shift away from secured mortgage debt.
  • The notes are unregistered under the U.S. Securities Act of 1933 & may not be offered or sold in the U.S. without registration or an applicable exemption.
  • Huntington Securities, Inc. & Fifth Third Securities, Inc. served as Co-Lead Placement Agents.
  • Keybanc Capital Markets Inc., Bank of America Securities, Inc., & Goldman Sachs & Co. LLC served as Co-Placement Agents.
  • Squire Patton Boggs (US) LLP acted as counsel to Gladstone Commercial & Gladstone LP, while Venable LLP served as Maryland counsel.
  • Chapman and Cutler LLP represented the purchasers.
  • As of September 30, 2025, Gladstone Commercial's portfolio includes 151 properties across 27 states totaling approximately 17.7 million square feet.