on Gladstone Investment Corporation (NASDAQ:GAIN)
Gladstone Investment Corporation Exits Nocturne Luxury Villas
Gladstone Investment Corporation (NASDAQ:GAIN) has announced the sale of Nocturne Luxury Villas, Inc. to an affiliate of Calera Capital. This transaction resulted in Gladstone Investment receiving full repayment of its debt investment and achieving a significant capital gain on its equity investment. Nocturne, established in 2021 with Aureus Capital, LLC, focuses on acquiring and integrating luxury vacation rental management companies.
Nocturne operates in locations such as St. Barth's, Grand Cayman, and Telluride. Erika Highland, Senior Managing Director of Gladstone Investment, praised the partnership with Aureus and Nocturne's management, highlighted by seven acquisitions. David Dullum, President of Gladstone Investment, emphasized the successful exit as validation of their buyout strategy, aiming to deliver value to shareholders.
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