MCLEAN, Va., Sept. 13 /PRNewswire-FirstCall/ -- Gladstone Commercial Corp. (Nasdaq: GOOD) (the 'Company') reported that is has obtained a long-term mortgage note payable in the amount of $12.59 million secured by three of its properties located in Ohio. The Company's Akron , Ohio property was collateralized for $7.56 million , its Canton, Ohio property was collateralized for $2.95 million , and its Dayton , Ohio property was collateralized for $2.08 million , for the total collateralized amount of $12.59 million . The mortgage note accrues interest at a rate of 5.21% per year, matures on September 1, 2015 , and does not provide for prepayment before maturity. The proceeds from this financing were used to pay down the Company's existing line of credit.
Gladstone Commercial Corporation is a publicly traded real estate investment trust that focuses on investing in and owning triple-net leased industrial and commercial real estate properties through sale/leaseback transactions and selectively making long-term mortgage loans. Additional information can be found at http://www.GladstoneCommercial.com.
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This press release may include statements that 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, as amended, including statements with regard to the future performance of the Company and the closing of any transaction. Words such as 'believes,' 'anticipates', 'intends,' 'expects,' 'projects' and 'future' or similar expressions are intended to identify forward-looking statements. These forward-looking statements inherently involve certain risks and uncertainties, although they are based on the Company's current plans that are believed to be reasonable as of the date of this press release. Factors that may cause the Company's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements include, among others, those factors listed under the caption 'Risk factors' of the Company's Annual Report on Form 10-K for the year ended, December 31, 2004 , as filed with the Securities and Exchange Commission on March 8, 2005 . The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Gladstone Commercial Corporation
