Private REIT produced 18.4% total return in 20141
ROCHESTER, N.Y. – Broadstone Net Lease (BNL), a private real estate investment trust (REIT) managed by Broadstone Real Estate, continues to grow its national portfolio of triple-net leased properties. On December 31, 2014, the company reached a pivotal milestone of $1 billion of total market capitalization. Acquisitions for all of 2014 totaled nearly $250 million, including $127 million closed in the fourth quarter. BNL acquired 48 properties in 15 separate transactions during 2014, and now owns 231 properties in 32 states.
“Following a highly competitive acquisitions market during most of 2014, the environment improved significantly during the fourth quarter. Broadstone Net Lease is in a great position to continue its accelerated pace of growth, as we enter 2015 with a robust acquisitions pipeline and solid balance sheet,” commented Broadstone’s Chairman, CEO and President, Amy Tait. “We would not have been able to achieve the $1 billion milestone without the continued support of our shareholders and our lenders.”
BNL’s shareholders invested more than $105 million in equity capital throughout the course of 2014. The REIT, which now has more than 900 investors from three continents, produced a total annual return of approximately 18.4% for 2014, and has produced an average total annual return of more than 12.6% since the offering’s 12/31/07 inception.1
During the course of 2014, BNL’s bank groups increased the availability of unsecured debt capital by $200 million through the expansion of the REIT’s unsecured line of credit and term note borrowings. In total, BNL’s bank groups have committed $585 million in unsecured debt capital across multiple syndicated facilities. BNL maintains a 50% leverage target.
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 231 medical, industrial and retail properties in 32 states, the REIT targets individual or portfolio acquisitions within the $5 to $100 million range.
There are currently more than 900 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 $500,000 if investing directly with Broadstone, or $250,000 if investing via financial advisors. Shares are offered via private placement. For more information, visit: BNL Investor Kit Download
1Performance data represents past performance and does not guarantee future results. Current performance may be lower or higher than the performance data presented. BNL is not required by law to follow any standard methodology when calculating and representing performance data. The performance of BNL may not be directly comparable to the performance of other private or registered REITs. All performance data above is presented net of fees. To view a list of important definitions and calculations related to performance, visit our website at www.broadstone.com/insights/faqs.