Gladstone Comm’l Expands Credit Line With Capital One, Others
Gladstone Commercial amended its line of credit established in December 2010 and previously amended in 2011 to increase the current maximum availability of credit from $50 million to $75 million. The credit facility was arranged by Capital One as administrative agent and BB&T company as an additional lender. Citizens Bank of Pennsylvania is joining the credit facility as an additional lender. All other terms of the agreement remained the same.
“This expanded line of credit will allow us to continue our plan for growth in 2012 and we welcome Citizens Bank as a new lender on our credit facility,” said Chip Stelljes, the company’s president and chief investment officer.