Gladstone commercial corp (GOODM)
Balance Sheet / Yearly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Dec'10
ASSETS
Real estate, at cost

1,123,644

1,056,978

1,008,438

989,036

953,978

946,649

913,477

905,349

904,684

893,853

880,614

819,029

821,921

821,749

797,115

790,232

777,001

780,377

761,458

763,831

740,842

722,565

700,574

684,001

627,993

642,353

622,481

564,952

538,509

533,753

494,578

478,410

452,161

442,521

420,241

419,720

401,017

Real Estate Investment Property, Accumulated Depreciation

216,547

207,523

202,480

194,202

186,107

178,257

170,824

163,349

155,899

149,417

146,229

139,303

138,070

131,661

125,250

122,827

117,162

112,243

104,877

102,243

96,760

92,133

93,401

88,520

84,008

81,241

76,923

72,712

69,133

65,730

62,459

59,433

56,572

53,784

51,119

48,537

43,659

Total real estate, net

907,097

849,455

805,958

794,834

767,871

768,392

742,653

742,000

748,785

744,436

734,385

679,726

683,851

690,088

671,865

667,405

659,839

668,134

656,581

661,588

644,082

630,432

607,173

595,481

543,985

561,112

545,558

492,240

469,376

468,023

432,119

418,977

395,589

388,737

369,122

371,183

357,358

Lease intangibles, net

122,036

115,465

110,197

111,074

108,047

111,448

109,343

111,978

116,301

118,927

115,210

101,035

102,075

105,553

102,765

101,683

101,571

104,914

105,963

106,893

102,808

98,814

94,642

92,129

78,284

79,632

75,345

60,797

57,156

57,254

48,348

45,926

39,878

37,670

31,791

32,804

26,747

Real estate and related assets held for sale, net

0

3,990

0

0

0

4,151

1,436

1,436

1,432

9,046

0

4,208

2,359

9,562

11,748

3,820

4,204

1,077

16,832

2,235

2,980

-

-

-

9,932

-

-

-

-

-

-

-

-

-

-

-

-

Mortgage note receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

5,900

5,900

5,900

5,600

5,600

5,600

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash and cash equivalents

9,853

6,849

6,175

7,590

4,314

6,591

2,470

4,552

4,123

6,683

4,287

5,014

4,105

4,658

8,747

3,993

5,010

5,152

3,730

3,297

5,760

8,599

5,237

2,367

5,813

8,546

4,531

4,023

7,279

5,546

14,782

4,273

5,689

3,329

2,410

2,315

7,062

Restricted cash

4,678

4,639

2,778

2,762

2,703

2,491

2,605

2,738

2,903

2,397

3,533

2,777

3,116

3,030

4,002

3,902

4,290

4,205

4,761

4,347

3,860

3,547

3,541

3,116

3,506

5,051

6,406

4,037

3,849

2,935

3,115

2,889

3,054

2,473

2,568

2,358

2,288

Funds held in escrow

7,971

7,226

6,011

5,713

5,501

6,010

5,934

9,520

9,508

9,369

12,312

4,605

4,281

6,806

7,172

5,922

5,867

7,534

10,936

12,377

11,091

11,096

13,377

12,811

9,417

8,653

8,986

7,708

7,193

7,591

6,207

5,345

4,555

4,086

4,051

3,305

2,621

Right-of-use assets from operating leases

5,742

5,794

5,846

5,897

5,948

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred rent receivable, net

35,599

37,177

37,344

37,047

35,151

34,771

34,613

34,280

33,851

33,333

31,030

28,401

30,151

29,725

29,288

28,909

28,155

27,443

25,098

24,992

23,447

21,728

21,387

20,590

19,520

18,905

17,998

16,695

15,890

15,124

13,484

13,121

12,666

12,403

12,151

11,905

10,373

Deferred financing costs, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,011

6,212

5,990

6,213

6,342

6,678

6,814

6,840

6,643

5,961

6,304

6,569

5,853

5,789

5,540

3,473

3,120

3,096

3,326

Other assets

5,849

8,913

3,703

4,870

5,485

4,921

5,121

5,504

6,203

4,263

4,094

5,807

3,039

2,320

3,056

2,651

2,525

2,825

2,671

2,499

1,664

1,765

2,108

2,358

1,611

1,786

945

2,679

2,151

1,737

1,736

1,015

1,003

976

1,880

1,050

834

TOTAL ASSETS

1,098,825

1,039,508

978,012

969,787

935,020

938,775

904,175

912,008

923,106

928,454

904,851

831,573

832,977

851,742

838,643

818,285

811,461

827,184

838,483

830,340

807,282

787,794

759,407

735,530

678,882

690,525

666,412

594,140

569,198

564,779

525,644

497,335

467,974

453,147

427,093

428,016

410,609

LIABILITIES, MEZZANINE EQUITY AND EQUITY
LIABILITIES
Mortgage notes payable, net

486,315

453,739

434,689

451,522

445,412

441,346

437,146

435,073

437,707

447,380

450,032

422,398

407,574

445,278

444,522

441,604

450,664

455,863

482,912

487,339

469,048

459,299

460,358

456,237

426,847

422,602

409,762

359,240

361,035

359,185

337,931

314,769

282,065

285,350

266,008

267,124

259,595

Borrowings under Revolver, net

20,846

51,579

34,915

50,585

32,335

50,084

30,334

32,808

32,065

20,715

43,933

37,478

63,797

39,225

46,772

60,229

42,465

44,591

55,500

45,200

41,300

43,300

45,600

25,650

24,100

24,400

28,900

11,200

26,400

25,000

5,500

-

0

18,700

9,100

8,200

27,000

Borrowings under Term Loan, net

159,033

121,276

121,219

74,663

74,653

74,629

74,604

74,580

74,556

74,532

24,912

24,905

24,897

24,892

24,892

24,887

24,883

24,878

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred rent liability, net

20,679

19,322

19,754

19,312

17,771

17,305

15,350

15,278

15,778

16,250

15,554

14,581

12,316

12,647

11,275

8,964

9,163

9,657

9,014

9,278

8,374

8,594

5,861

5,703

5,862

6,015

6,117

5,104

5,221

5,379

5,659

3,440

3,593

3,851

3,144

3,042

2,276

Series C mandatorily redeemable term preferred stock, net, par value $0.001 per share; $25 per share liquidation preference; 160,000 and 1,700,000 shares authorized; and 0 and 1,540,000 shares issued and outstanding at December 31, 2016 and December 31, 2015, respectively

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

13,424

38,192

38,100

38,500

-

-

38,500

-

38,500

38,500

-

38,500

38,500

38,500

38,500

38,500

38,500

38,500

-

-

-

-

Operating Lease, Liability

5,808

5,847

5,886

5,924

5,948

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Asset retirement obligation

3,163

3,137

3,120

2,938

2,907

2,875

2,844

2,814

2,784

3,051

3,136

3,105

3,440

3,406

3,268

3,645

3,659

3,674

3,542

3,749

3,675

3,616

3,950

3,747

3,704

3,884

3,851

3,819

3,786

3,755

3,711

3,812

3,329

3,289

3,179

3,140

3,063

Accounts payable and accrued expenses

7,684

5,573

2,658

4,129

2,641

2,704

2,697

5,606

6,419

7,339

8,221

3,781

3,461

5,891

4,031

3,681

4,569

6,388

7,820

5,925

7,362

8,285

7,267

6,498

2,186

2,359

3,552

3,359

4,165

4,715

4,920

4,295

3,305

1,956

1,268

1,873

2,683

Liabilities related to assets held for sale, net

0

21

-

-

-

0

297

297

297

114

0

0

332

1,041

688

357

1,160

868

1,304

93

2,587

-

-

-

178

-

-

-

-

-

-

-

-

-

-

-

-

Due to Adviser and Administrator

3,152

2,900

2,730

2,635

2,562

2,500

2,489

2,352

2,385

2,289

2,250

2,104

2,103

2,075

1,991

1,884

1,898

1,858

1,820

1,683

1,721

916

1,688

1,737

1,160

1,360

999

848

1,069

1,175

1,034

779

1,046

1,188

739

1,091

965

Other liabilities

16,488

12,920

9,190

8,396

6,902

7,292

5,692

6,386

7,716

6,554

7,803

6,805

7,488

6,667

8,076

7,523

7,250

7,436

7,644

7,699

7,558

7,612

6,987

6,908

6,495

8,259

9,874

5,688

5,374

4,705

4,382

4,102

4,465

3,499

4,363

3,686

3,652

TOTAL LIABILITIES

723,168

676,318

634,161

620,104

591,131

598,758

571,453

575,194

579,707

578,224

555,841

515,157

525,408

541,122

545,515

566,198

583,903

593,313

608,056

599,466

580,125

570,122

570,211

544,980

509,032

507,379

501,555

427,758

445,550

442,414

401,637

369,697

336,303

317,833

287,801

288,156

299,234

Commitments and contingencies

-

-

-

-

-

-

0

0

0

-

0

0

0

0

-

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

-

-

-

MEZZANINE EQUITY
Series D and E redeemable preferred stock, net, par value $0.001 per share; $25 per share liquidation preference; 12,760,000 shares authorized; and 6,299,555 shares issued and outstanding at March 31, 2020 and December 31, 2019

152,193

152,153

85,598

85,598

85,598

85,598

85,598

85,598

84,366

83,432

81,978

77,612

72,965

70,743

-

-

-

0

-

38,500

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

TOTAL MEZZANINE EQUITY

-

-

85,598

85,598

85,598

85,598

85,598

85,598

84,366

83,432

81,978

77,612

72,965

70,743

67,213

25,532

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

EQUITY
Series A and B redeemable preferred stock, par value $0.001 per share; $25 per share liquidation preference; 5,350,000 shares authorized and 2,264,000 shares issued and outstanding at December 31, 2018 and December 31, 2017, respectively

-

-

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

Redeemable preferred stock

-

-

2

2

2

2

2

2

2

2

2

2

-

2

-

-

-

-

-

-

2

-

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

Senior common stock, par value $0.001 per share; 950,000 shares authorized; and 783,114 and 806,435 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

0

0

-

0

0

0

0

0

0

0

0

0

0

0

Common stock, par value $0.001 per share, 60,290,000 and 86,290,000 shares authorized and 33,930,020 and 32,593,651 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively

34

32

31

31

30

29

29

29

28

28

28

26

25

25

24

23

23

22

22

21

20

20

18

18

16

16

14

14

11

11

11

11

11

11

11

11

9

Additional paid in capital

599,232

571,205

599,956

592,706

573,868

559,977

544,895

538,276

535,399

534,790

520,143

481,322

465,790

463,436

440,136

429,608

421,466

418,897

408,401

399,420

387,392

369,748

339,083

332,850

305,994

298,751

274,159

269,554

221,578

215,470

212,542

212,014

211,755

211,553

211,508

208,664

174,261

Accumulated other comprehensive income

-4,654

-2,126

-2,483

-1,859

-870

-148

1,063

818

530

35

172

179

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Notes receivable - employee

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

375

375

375

375

375

375

375

375

375

410

410

416

421

422

426

431

963

Distributions in excess of accumulated earnings

374,259

360,978

343,736

331,461

319,402

310,117

298,866

287,910

276,927

268,058

253,314

242,726

231,214

223,587

214,248

203,079

193,934

185,051

177,999

168,570

159,883

151,724

149,533

141,945

135,787

115,248

108,943

102,813

97,568

92,708

88,138

83,973

79,676

75,830

71,803

68,386

61,934

Stockholders' Equity Attributable to Parent

220,354

208,134

253,771

259,420

253,629

249,744

247,124

251,216

259,033

266,798

267,032

238,804

234,604

239,877

225,915

226,555

227,558

233,871

230,427

230,874

227,157

217,672

189,196

190,550

169,850

183,146

164,857

166,382

123,648

122,365

124,007

127,638

131,671

135,314

139,292

139,860

111,375

OP Units held by Non-controlling OP Unitholders

3,110

2,903

4,482

4,665

4,662

4,675

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest

223,464

211,037

258,253

264,085

258,291

254,419

-

-

-

266,798

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

TOTAL LIABILITIES, MEZZANINE EQUITY AND EQUITY

1,098,825

1,039,508

978,012

969,787

935,020

938,775

904,175

912,008

923,106

928,454

904,851

831,573

832,977

851,742

838,643

818,285

811,461

827,184

838,483

830,340

807,282

787,794

759,407

735,530

678,882

690,525

666,412

594,140

569,198

564,779

525,644

497,335

467,974

453,147

427,093

428,016

410,609