Gladstone Commercial Corporation Announces Sale of Georgia Medical Office Portfolio
Gladstone Commercial (Nasdaq: GOOD) has announced the sale of two medical office properties in the Atlanta MSA, totaling 26,331 square feet, on August 7, 2024. The properties, leased to Northside Hospital, were sold at a cap rate of 5.97%. Gladstone Commercial realized a leveraged internal rate of return of approximately 13.2% on these assets, which were part of an 8-property portfolio acquired in 2007.
The company intends to reinvest the proceeds from this sale into the industrial sector, aligning with their goal of increasing industrial concentration and potentially gaining additional yield. This strategic move reinforces Gladstone Commercial's shift towards the industrial sector, as highlighted by President Buzz Cooper.
Gladstone Commercial (Nasdaq: GOOD) ha annunciato la vendita di due proprietà ad uso medico nell'area metropolitana di Atlanta, per un totale di 26.331 piedi quadrati, il 7 agosto 2024. Le proprietà, affittate a Northside Hospital, sono state vendute a un tasso di capitalizzazione del 5,97%. Gladstone Commercial ha realizzato un ritorno interno atteso su capitale investito (IRR) alla leva di circa il 13,2% su questi beni, che facevano parte di un portafoglio di 8 proprietà acquisito nel 2007.
L'azienda ha intenzione di reinvestire i proventi di questa vendita nel settore industriale, in linea con il proprio obiettivo di aumentare la concentrazione industriale e potenzialmente ottenere un rendimento aggiuntivo. Questa mossa strategica rafforza il passaggio di Gladstone Commercial verso il settore industriale, come evidenziato dal presidente Buzz Cooper.
Gladstone Commercial (Nasdaq: GOOD) ha anunciado la venta de dos propiedades de oficinas médicas en el área metropolitana de Atlanta, con un total de 26,331 pies cuadrados, el 7 de agosto de 2024. Las propiedades, alquiladas a Northside Hospital, se vendieron con una tasa de capitalización del 5.97%. Gladstone Commercial obtuvo una tasa interna de retorno apalancada de aproximadamente el 13.2% en estos activos, que formaban parte de una cartera de 8 propiedades adquirida en 2007.
La empresa tiene la intención de reinvertir los ingresos de esta venta en el sector industrial, alineándose con su objetivo de aumentar la concentración industrial y potencialmente obtener rendimientos adicionales. Este movimiento estratégico refuerza el cambio de Gladstone Commercial hacia el sector industrial, como destacó el presidente Buzz Cooper.
글래드스톤 상업(Nasdaq: GOOD)은 2024년 8월 7일 애틀랜타 MSA에 있는 두 개의 의료 사무소 속성 판매를 발표했습니다. 총 면적은 26,331 제곱피트입니다. 북사이드 병원에 임대된 이 시설은 5.97%의 수익률로 판매되었습니다. 글래드스톤 상업은 이 자산에서 약 13.2%의 레버리지 내부 수익률(IRR)을 실현했습니다. 이 자산은 2007년에 인수한 8개 속성 포트폴리오의 일부였습니다.
회사는 이번 판매로 얻은 수익을 산업 부문에 재투자할 계획이며, 이는 산업 집중도를 높이고 추가 수익을 창출할 가능성과 일치합니다. 이 전략적 이동은 글래드스톤 상업이 산업 부문으로의 전환을 강화하고 있음을 보여주며, 이는 사장인 버즈 쿠퍼가 강조했습니다.
Gladstone Commercial (Nasdaq: GOOD) a annoncé la vente de deux propriétés de bureaux médicaux dans la zone métropolitaine d'Atlanta, totalisant 26 331 pieds carrés, le 7 août 2024. Les propriétés, louées à Northside Hospital, ont été vendues avec un taux de capitalisation de 5,97%. Gladstone Commercial a réalisé un taux de rendement interne (IRR) levé d'environ 13,2% sur ces actifs, qui faisaient partie d'un portefeuille de 8 propriétés acquis en 2007.
L'entreprise envisage de réinvestir les produits de cette vente dans le secteur industriel, en accord avec son objectif d'augmenter la concentration industrielle et potentiellement d'obtenir un rendement supplémentaire. Ce mouvement stratégique renforce le passage de Gladstone Commercial vers le secteur industriel, comme l'a souligné le président Buzz Cooper.
Gladstone Commercial (Nasdaq: GOOD) hat am 7. August 2024 den Verkauf von zwei medizinischen Büroimmobilien im Atlanta MSA bekannt gegeben, die insgesamt 26.331 Quadratfuß umfassen. Die Immobilien, die an das Northside Hospital vermietet sind, wurden zu einem Kapitalisierungszinssatz von 5,97% verkauft. Gladstone Commercial erzielte eine fremdfinanzierte interne Rendite von etwa 13,2% auf diese Vermögenswerte, die Teil eines 2007 erworbenen Portfolios aus 8 Immobilien waren.
Das Unternehmen plant, die Einnahmen aus diesem Verkauf in den Industriesektor zu reinvestieren, was mit dem Ziel übereinstimmt, die industrielle Konzentration zu erhöhen und potenziell zusätzliche Erträge zu erzielen. Dieser strategische Schritt verstärkt den Übergang von Gladstone Commercial zum Industriesektor, wie Präsident Buzz Cooper hervorhebt.
- Sale of two medical office properties at a 5.97% cap rate
- Realized a leveraged internal rate of return of 13.2% on the assets
- Strategic reinvestment of proceeds into the industrial sector
- Alignment with company's goal to increase industrial concentration
- Reduction in medical office property portfolio
Insights
The sale of Gladstone Commercial's Georgia medical office portfolio marks a strategic shift towards industrial real estate. With a
However, investors should note that while this move may improve portfolio metrics, it also represents a reduction in stable, recession-resistant medical office exposure. The impact on future cash flows and dividend stability will depend on the success of reinvestment efforts in the industrial sector.
Gladstone Commercial's divestment of medical office properties in favor of industrial assets reflects a broader market trend. The
The shift towards industrial real estate is strategic, given the sector's robust performance driven by e-commerce growth and supply chain reconfiguration. However, investors should monitor how quickly and effectively Gladstone can deploy the proceeds into industrial properties to maintain earnings momentum and capitalize on the anticipated yield improvements.
MCLEAN, VA / ACCESSWIRE / August 8, 2024 / Gladstone Commercial Corporation (Nasdaq:GOOD) ("Gladstone Commercial") announced that on August 7, 2024, it sold two medical office properties located in the Atlanta MSA leased to Northside Hospital, totaling 26,331 square feet at a cap rate of
Gladstone Commercial realized a leveraged internal rate of return of approximately
"We recognized the opportunity to realize a strong outcome from the sale of two medical office assets. We intend to recycle this capital into the industrial sector, which will allow Gladstone Commercial to continue its stated goal of increasing industrial concentration while gaining additional yield," stated Todd Alan McDonald, Senior Vice President of Gladstone Commercial.
"The Northside Hospital team has been a wonderful partner for many years," stated Perry Finney, Senior Vice President of Gladstone Commercial. "We are very pleased with the result."
"This sale is a strong outcome for the legacy portfolio and reinforces our overall migration to the industrial sector," added Buzz Cooper, President of Gladstone Commercial.
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 June 30, 2024, Gladstone Commercial's real estate portfolio consisted of 136 properties located in 27 states, totaling approximately 16.8 million square feet. For additional information please visit www.gladstonecommercial.com.
For Broker Submittals (South Central): | For Asset Management Matters (South Central and West): |
Todd Alan McDonald | Perry Finney |
Senior Vice President | Senior Vice President |
(703) 287-5895 | (703) 462-1028 |
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Investor or Media Inquiries: |
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Buzz Cooper | Catherine Gerkis |
President | Director of Investor Relations/ESG |
(703) 287-5815 | (703) 287-5846 |
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 Gladstone Commercial'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, 2023, as filed with the SEC on February 21, 2024, and certain other filings we make with the SEC. Gladstone Commercial 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.
For further information:
Gladstone Commercial Corporation, (703) 287-5893
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
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