REIT Gladstone Commercial to Sell Perpetual Preferred

REIT Gladstone Commercial will be selling a new perpetual preferred stock.

The company intends to redeem their 7.00% GOOD-D perpetual preferred which became redeemable on 5/25/2021—this redemption was previously announced.

The company has 1 other preferred outstanding — a 6.625% coupon preferred which can be seen here.

NOTE that while the preferreds from Gladstone Capital and Gladstone Investment (boths BDC’s) are term preferreds, Gladstone Commercial issues are perpetual.

The preliminary prospectus can be read here.

StackingNickels was right on top of this one. EarlyBird chimed in with yield talk in the 6.125% – 6.25% area.

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