Private REIT Now Owns 410 Properties in 36 States
ROCHESTER, N.Y. – Broadstone Net Lease (BNL), a private real estate investment trust (REIT) managed by Broadstone Real Estate, LLC (Broadstone), continues to grow its national portfolio of triple-net leased properties. Today, BNL announced the acquisition, via sale leaseback, of a 24-property Bloomin’ Brands portfolio, which includes 22 Outback Steakhouses and two Carrabba’s Italian Grill properties in 13 states.
Established in 1988, Bloomin’ Brands, operates approximately 1,500 casual dining restaurants in 48 U.S. states, Puerto Rico, Guam, and 22 countries under the Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, Fleming’s Prime Steakhouse & Wine Bar, and Abbraccio brands.
“BNL’s acquisition of this Bloomin’ Brands portfolio further diversifies our REIT’s retail holdings. Bloomin’ Brands is now BNL’s third largest tenant,” said Amy Tait, Chairman and CEO of Broadstone. “BNL has now surpassed over $2 billion in total assets, and plans to announce additional acquisitions throughout the fourth quarter.”
Tones Vaisey PLLC represented Broadstone Net Lease.
About Broadstone Net Lease:
Broadstone Net Lease (BNL) invests in freestanding, single-tenant, triple-net leased properties located throughout the United States, primarily via sale and leaseback transactions. With a diversified portfolio of 410 medical, industrial and retail properties in 36 states, the REIT targets individual or portfolio acquisitions within the $10 to $200+ million range.
There are currently more than 1,900 shareholders in BNL, which is externally managed by Broadstone Real Estate, LLC. BNL remains open for new investment by accredited investors on a monthly basis, with a minimum investment of $500,000. Shares are offered directly by Broadstone via private placement. Please see certain important disclosures regarding BNL at broadstone.com/disclosures.
Accredited investors are invited to download an investor kit: broadstone.com/BB16