Private REIT Acquires Properties via Sale & Leaseback and UPREIT Transactions
ROCHESTER, N.Y. – Broadstone Net Lease (BNL), a private real estate investment trust (REIT) managed by Broadstone Real Estate, has completed its most active consecutive fundraising quarters in the REIT’s history, and now seeks individual and portfolio acquisition opportunities between $5 million and $100 million. BNL acquires free-standing, single-tenant, net-leased properties in the retail, industrial and medical industries.
“So far this year, BNL has been an active buyer, as we have closed or have under contract nearly $160 million worth of net-leased real estate,” commented Broadstone’s Chairman, CEO & President, Amy Tait. “We currently have cash and line availability in place to complete at least $125 million of acquisitions in the near term, and continue to raise new equity on a monthly basis to fund future growth.”
In addition to Broadstone’s focus on sale & leaseback transactions, the firm’s principals have executed more than $1 billion of UPREIT transactions, historically. UPREIT transactions provide a tax deferred exit strategy for owners of real estate who would otherwise recognize a significant taxable gain in a cash sale of a highly appreciated property with a low tax basis. By contributing the property to the operating partnership of Broadstone Net Lease‚ the contributing property owner’s historical cost basis is maintained. This program has allowed property owners to exchange low cost-basis real estate for a diversified income stream.
For more information, contact the Broadstone Net Lease acquisitions team:
Sean Cutt, Senior Vice President: [email protected]; 585.287.6469
Brandon Tones, Vice President: [email protected]; 585.287.6468
Steve Haupt, Director: [email protected]; 585.287.6496
Collin Hart, Acquisitions Manager; [email protected]; 702.839.8737
About Broadstone Net Lease:
Broadstone Net Lease (BNL) invests in freestanding, single-tenant, triple-net leased properties located throughout the United States. With a diversified portfolio of 210 medical, industrial and retail properties in 31 states and valued at nearly $1 billion, the REIT targets individual or portfolio acquisitions within the $5 to $100 million range.
There are 850+ accredited investors in BNL, which is externally managed by Broadstone Real Estate LLC, a certified Women’s Business Enterprise (WBE). BNL 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.
BNL portfolio data as of 9/30/2014. Portfolio value is calculated using BNL’s current price of $70 per share. Visit our website at www.broadstone.com for additional definitions, disclosures, risk factors and calculations.
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