Gladstone Commercial Corporation Announces New Regional Positions to Recognize Individual Accomplishments

Rhea-AI Summary

Gladstone Commercial Corporation (NASDAQ:GOOD) announced leadership changes in its Investments and Asset Management Teams. Arthur S. "Buzz" Cooper, who has been with the company since 2003, has played a crucial role in acquiring 65% of the current portfolio, which has maintained over 95% occupancy. The company acquired over $270 million in properties since January 2019, with a focus on industrial real estate. The Asset Management team achieved a 99% collection rate of scheduled base rent in 2020. These changes aim to enhance growth and increase shareholder wealth.

Positive

• The Investments team has maintained a portfolio occupancy rate of over 95%.
• Gladstone acquired over $270 million in properties since January 2019, demonstrating significant growth.
• The Asset Management team achieved a 99% collection rate of scheduled base rent in 2020.

Negative

• None.

MCLEAN, VA / ACCESSWIRE / April 1, 2021 / Gladstone Commercial Corporation (NASDAQ:GOOD) ("Gladstone Commercial" or the "Company") announces position changes for the Investments and Asset Management Teams. The Investments team is under the leadership of Arthur S. "Buzz" Cooper, Executive Vice President, who has been with the Company since its IPO in 2003. Mr. Cooper has led the acquisition of 65% of the current portfolio, a portfolio that has never dipped below 95% occupied. The Asset Management team is led by Karen Priesman and Perry Finney. Since January 2019, Gladstone has acquired over $270 million of properties, all of which are industrial, and the in-place Investments team originated approximately $200 million of that $270 million. In addition, the Asset Management team completed 20 lease transactions during 2020 with a weighted average lease term of 7.9 years while also collecting 99% of scheduled base rent during 2020.

The Company has made the following position changes for certain professionals to recognize their accomplishments and expected continued contributions to the Company's future success. The Company anticipates maintaining a robust acquisition pipeline while also focusing on increasing same-store rents by approximately 2%.

EJ Wislar is appointed to Senior Vice President / Southeast Investments. Mr. Wislar joined Gladstone in 2018 and has worked on originating nearly $200MM in new acquisitions since joining Gladstone. Prior to joining Gladstone, he was a Senior Associate with Prudential Global Investment Management Real Estate Finance and was a Vice President with United Bank, where he was responsible for the commercial underwriting function. He received a B.S. in Business Administration from Washington & Lee University.

The Investments team is also supported by Mac Dobbins in the Southeast and West Regions and Todd McDonald in the Midwest and Northeast Regions, who are taking on additional regional investment responsibilities.

Perry Finney is appointed to Senior Vice President / Asset Management. Mr. Finney joined Gladstone in 2018. He has 17 years of experience in real estate asset management, including managing large public REIT and non-public real estate portfolios consisting of multiple asset classes, including industrial, office, retail, and laboratory properties. He received a B.A. in Economics from Washington College and is a former CPA.

Karen Priesman is appointed to Senior Vice President / Asset Management. Ms. Priesman joined Gladstone in 2018. Previous positions include Vice President of Prudential Real Estate Investors, Director of Carr Real Estate Services, Vice President of Hager Pacific Properties and principal of K2M LLC. She received a B.S. from California State University Long Beach and an MBA in Real Estate and Finance from the Wharton School.

The Asset Management team is also supported by Greg Yayac, who manages properties along the east coast, and Elena Black.

Bob Cutlip, Gladstone's President, remarked that "the expanded roles of these team members reflect their contributions to our current and future success. It also reinforces our culture and a commitment to emphasizing growth from within by continually increasing the roles and responsibilities of core team members as we continue to focus on increasing shareholder wealth."

About Gladstone Commercial Corporation (NASDAQ:GOOD)
Gladstone Commercial is a real estate investment trust focused on acquiring, owning and operating net leased industrial and office properties across the United States. As of December 31, 2020, Gladstone Commercial's real estate portfolio consisted of 121 properties located in 28 states, totaling approximately 15.4 million square feet. For additional information please visit www.gladstonecommercial.com.

Investor or Media Inquiries:
Bob Cutlip
President - Gladstone Commercial Corporation
(703) 287-5878
Bob.Cutlip@gladstonecompanies.com

For Broker Submittals:
Buzz Cooper
Executive Vice President
(703) 287-5815
Buzz.Cooper@gladstonecompanies.com

All statements contained in this press release, other than historical facts, 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. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. Readers should not rely upon forward-looking statements because the matters they describe are subject to known and unknown risks and uncertainties that could cause the Company's business, financial condition, liquidity, results of operations, funds from operations or prospects to differ materially from those expressed in or implied by such statements. Such risks and uncertainties are disclosed under the caption "Risk Factors" of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2020, as filed with the SEC on February 16, 2021, and certain other filings we make with the SEC. The Company cautions readers not to place undue reliance on any such forward-looking statements which speak only as of the date made. 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 except as required by law.

For Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit www.gladstonecompanies.com.

SOURCE: Gladstone Commercial Corporation

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FAQ

What leadership changes were announced by Gladstone Commercial on April 1, 2021?

Gladstone Commercial appointed new leadership roles in its Investments and Asset Management Teams, including Arthur S. Cooper and EJ Wislar.

How much has Gladstone Commercial spent on acquisitions since January 2019?

Gladstone Commercial has spent over $270 million on acquisitions since January 2019.

What percentage of scheduled base rent did Gladstone Commercial collect in 2020?

Gladstone Commercial collected 99% of scheduled base rent during 2020.

What is the focus of Gladstone Commercial's real estate portfolio?

Gladstone Commercial focuses on acquiring, owning, and operating net leased industrial and office properties across the United States.

What is the current occupancy rate of Gladstone Commercial's portfolio?

Gladstone Commercial's portfolio has never dipped below 95% occupancy.