ROCHESTER, N.Y. – Broadstone Net Lease, Inc. (“BNL,” ”we,” or ”us”), a privately offered real estate investment trust (“REIT”) managed by Broadstone Real Estate, LLC (“Broadstone”), today filed with the Securities and Exchange Commission its Annual Report on Form 10-K for the year ended December 31, 2017 (the “2017 Form 10-K”), which is available free of charge on the SEC’s public website and on our website at http://investors.bnl.broadstone.com.
“2017 was a landmark year for BNL on many fronts,” said Chris Czarnecki, BNL’s Chief Executive Officer. “In addition to closing a record-breaking number of acquisitions, in particular during the fourth quarter, we continued to grow our sources of capital through new debt and equity raises, all while transitioning into a publicly reporting company. Although our per-share results were tempered by timing differences between ongoing equity raises and capital deployment, we believe our recent actions to institute caps on monthly equity raises should help mitigate that effect going forward. In addition, we have worked to further improve our advantageous cost of borrowing. These two sources of capital came together to fund a very active 2017 fourth quarter on the acquisitions front. The accretive nature of the investments we made late in the year is evidenced by our Board’s willingness to increase the monthly dividend 3.6%, from $0.415 to $0.43 per share, at its February meeting. We believe that the combination of these investments, a more balanced capitalization structure, and available capacity on our investment-grade credit facility will allow us to continue to grow in 2018 and continue to offer an attractive total return to our investors.”
Click here to download a full PDF of the fourth quarter 2017 BNL earnings release.