Gladstone Commercial Corporation, through its operating partnership Gladstone Commercial Limited Partnership, has secured a new Term Loan Agreement amounting to $20.0 million. Entered on May 30, 2025, the loan involves KeyBank National Association as the lender and agent, with other participating lenders. The loan is set to mature on May 30, 2027, and carries an interest rate based on the secured overnight financing rate $(SOFR)$ plus a margin of 155 to 200 basis points, or a base rate plus a margin of 55 to 100 basis points. This unsecured loan includes customary covenants and restrictions for a loan of its size, impacting debt incurrence, investments, and mergers among others. This agreement does not amend Gladstone's existing Credit Facility.
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