Private REIT Now Owns 211 Properties in 31 States
ROCHESTER, N.Y. –Broadstone Net Lease (BNL,) a private Real Estate Investment Trust (REIT) managed by Broadstone Real Estate, LLC, continues to build the size, diversification, and quality of its net leased portfolio. Today, the REIT announced that it has acquired 19 properties for more than $52.6 million thus far in 2014, and now has a total market capitalization of more than $800 million.
The acquisitions included a portfolio of 16 Wendy’s restaurants in four states, a Golden Corral restaurant in Lexington, KY, a Shemin Landscape Supply location in Greenwich, CT and an industrial facility of the Port City Group located in Norton Shores, MI. The REIT has also selectively sold properties this year, totaling more than $13.5 million. In total, Broadstone Net Lease has increased its holdings to 211 properties in 31 states.
“Broadstone Net Lease’s growing base of shareholders and lenders has provided us with the consistent ability to quickly close on compelling acquisition opportunities.” said Amy Tait, Broadstone Chairman and CEO. “These acquisitions and sale leasebacks to credit-worthy tenants are representative of the robust deal flow that we are experiencing.”
Broadstone Net Lease Inc. invests in freestanding, single-tenant, absolute net-leased properties located throughout the United States. With a diversified portfolio of medical, industrial, restaurant, convenience store and specialty office properties, the REIT seeks acquisitions within the $5 to $50 million range.
Broadstone Net Lease is externally managed by Broadstone Real Estate, LLC, a certified Women’s Business Enterprise (WBE.) Today, BNL has more than 760 investors from five countries and three continents. The REIT remains open for new investment by accredited investors on a monthly basis, with a minimum investment of $250,000. For more information, visit Broadstone’s website at www.broadstone.com or contact the firm’s Investor Relations team.