ROCHESTER, N.Y. – Broadstone Real Estate, LLC continues to grow its nationwide portfolio of triple-net leased properties. The company announced today that Broadstone Net Lease (BNL), its private Real Estate Investment Trust (REIT), acquired 41 properties during 2013 at a combined purchase price of over $188 million. The BNL portfolio now has a total market capitalization of over $750 million.
Nearly half of the acquisition volume during the past year took place in the fourth quarter, when BNL acquired 20 properties for more than $102 million. The acquisitions included medical facilities in Virginia and Alabama, retail automotive properties in California, a portfolio of eight wholesale landscape supply properties in six states, and industrial facilities in Illinois, Michigan and Colorado. The largest 4th quarter acquisition was the 165,000 square foot Johnstown, Colorado facility of Fiberspar, a subsidiary of National Oilwell Varco, which manufactures flexible, corrosion-resistant piping for the oil and gas industry. The REIT also selectively sold properties totaling approximately $20 million during the year. In total, Broadstone Net Lease increased its net holdings to 203 properties in 29 states.
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