10:16 AM EDT, 08/05/2024 (MT Newswires) -- Gladstone Investment ( GAIN ) said Monday it acquired Grand Cayman Villas and Condos for $18.5 million of secured first lien debt from its portfolio company Nocturne Luxury Villas.

The transaction increases Gladstone's total debt and equity investments at cost in Nocturne to $88.2 million, Senior Managing Director of Gladstone Erika Highland said in a statement.

Shares of Gladstone were down 3.6% in recent trading.

Price: 13.23, Change: -0.50, Percent Change: -3.64