Gladstone Commercial Corporation Announces Sale Of Pittsburgh, PA Office Building
Portfolio Pulse from Happy Mohamed
Gladstone Commercial Corporation (NASDAQ:GOOD) has sold its 26,080 square foot office building in Pittsburgh, Pennsylvania. The company realized a leveraged internal rate of return of approximately 18% on the investment, which it originally acquired in 2011. The sale is part of Gladstone's capital recycling plan to re-position its portfolio.
July 27, 2023 | 9:01 pm
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Gladstone Commercial Corporation has sold its Pittsburgh office building, realizing an 18% return on the investment. This sale is part of the company's capital recycling plan.
The sale of the office building is part of Gladstone's capital recycling plan, which is a strategy to improve its portfolio. While the sale has realized a good return on investment, it's unclear how this will impact the company's stock price in the short term without additional information on how the proceeds will be used.
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