ROCHESTER, N.Y. – Broadstone Net Lease, Inc. (BNL), a privately offered real estate investment trust (REIT) managed by Broadstone Real Estate, LLC (Broadstone), today announced the addition of Greg Lang and Sean Hostert each as Vice President, Acquisitions of the Commercial Division. At BNL, Greg and Sean will cultivate new relationships with brokers and prospective sellers, and identify, analyze, and acquire single tenant commercial real estate opportunities. Greg and Sean are both based in Broadstone’s Phoenix, Arizona office.
Greg joins the firm with a diverse background in investment real estate. Most recently, Greg served as Vice President of Investments for Colony Starwood Homes prior to its merger with Invitation Homes. Greg also has experience on the commercial side as a former Managing Director of Acquisitions at STORE Capital. Greg holds a BS degree in Management with a minor in Economics and certificate in Small Business and Entrepreneurship from the W.P. Carey School of Business at Arizona State University.
Sean comes to Broadstone with nearly eight years of real estate, finance, and accounting experience. Most recently, Sean served as Director of Acquisitions for VEREIT, Inc., where he focused on sale leaseback opportunities and made significant contributions to over $650 million of closed retail transactions. Sean holds dual BS degrees in Finance and Accountancy from the University of Illinois at Urbana-Champaign.
“We are excited to expand our team’s geographic presence in the Southwestern U.S., as we seek additional single-tenant, net leased commercial acquisition opportunities nationwide,” said Chris Czarnecki, BNL’s Chief Executive Officer. “Both Greg and Sean have excellent experience in investment real estate, and they will play key roles in sourcing and closing deals as the REIT continues to scale.”
About Broadstone Net Lease, Inc.
BNL invests in freestanding, single-tenant, net leased commercial properties located throughout the United States, primarily via sale and leaseback, lease assumption, and UPREIT transactions. UPREIT transactions (where “UPREIT” means “umbrella partnership real estate investment trust”) provide a tax deferred exit strategy for owners of real estate who might otherwise recognize a significant taxable gain in a cash sale of a highly appreciated property with a low tax cost basis. With a diversified portfolio of 550 retail, healthcare, industrial, office and other properties in 40 states as of March 31, 2018, the REIT targets individual or portfolio acquisitions within the $5 million to $300 million range.
There are currently more than 2,700 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 direct investment of $500,000. Shares are offered directly by BNL via private placement. For additional information about BNL, please visit its corporate website at investors.bnl.broadstone.com.
Accredited investors are invited to download an investor kit: broadstone.com/ACQ1