Our goal is to pay our shareholders dividends on a monthly
basis. The Company’s goal is to increase the amount
of dividends paid
out each year.
Gladstone Commercial Corporation was incorporated under
the General Corporation Laws of the State of Maryland on
February 14, 2003 primarily for the purpose of investing
in and owning net leased industrial and commercial real
property and selectively making long-term industrial and
commercial mortgage loans. Some of our tenants are major corporations (see below). We expect that a large portion
of our tenants and borrowers will be small and medium-sized
businesses having significant buyout fund ownership and
will be well capitalized, with equity constituting between
20% and 40% of their permanent capital. We expect that
other tenants and borrowers will be family-owned businesses
that have built significant equity from paying down the
mortgage loans securing their real estate or through the
appreciation in the value of their real estate. We will
seek to enter into triple net leases having terms of approximately
15 years, with rent increases built into the leases.
We will conduct substantially all of our activities through,
and substantially all of our properties will be held directly
or indirectly by, Gladstone Commercial Limited Partnership,
a Delaware limited partnership formed on May 28, 2003 that
we refer to herein as our "Operating Partnership." We
will control our Operating Partnership as its sole general
partner, and, through our wholly owned subsidiary Gladstone
Commercial Partners, LLC, we will also initially own all
limited partnership units of our Operating Partnership.
We expect our Operating Partnership to issue limited partnership
units from time to time in exchange for industrial and
commercial real property. Limited partners who hold limited
partnership units in our Operating Partnership will be
entitled to redeem these units for cash or, at our election,
shares of our common stock on a one-for-one basis at any
time after the first anniversary of the completion of this
offering.
Our
Objective
Our goal is to pay our shareholders dividends on a monthly
basis, to increase the amount of dividends paid out each year.
Our Investments and Mortgages
Gladstone Commercial leases business real estate and makes
mortgage loans to small and medium sized private businesses.
We help businesses finance their real estate in three ways:
(1) we will buy business real estate and lease it to the business on a
long term basis.
(2) we will purchase real estate already owned by a business
and lease it back to the business thereby freeing up their
equity in the real estate.
(3) we will make a long-term
mortgage loan on the real estate owned by the business.
If you know of a business that may wish to obtain funding
from us and that fits our investment
profile, please contact our managing
directors.
Our
Team
If you are a shareholder, a customer or a client, Gladstone Commercial has
a professional
team working for you. Please feel free to email us with suggestions.
Visit Our Sister Companies
We have two sister companies that make loans to small and
medium sized private businesses, Gladstone
Capital Corporation and Gladstone Investment Corporation.
Our Tenants
Listed below is a partial list of some past and current major tenants. We are listing only the names of the tenants that we believe that shareholders would recognize and be able to evaluate because they are public entities. Many of our tenants are lesser known private businesses that most shareholders would not be able to identify and therefore we have not listed them.
• AFL Telcom. (Fujikura USA)
• Chicago Office Technology Group (Xerox Corp.)
• Corning
• Cummins
• MedPlus (Quest Diagnostics)
• MTC Technologies (BAE Systems)
• OB Glass Container (Owens-Illinois)
• Pennzoil
• Sara Lee
• St. Vincent Mercy Medical
• Telex Communications
• T-Mobile
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