Dear Shareholders – We are pleased to provide you with the results of Broadstone Net Lease, Inc.’s (“BNL,” “we,” “our,” or the “Company”) operations for the third quarter of 2017. More information on BNL’s Q3 performance is available in BNL’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2017, as filed with the SEC on November 13, 2017 (“Q3 2017 10-Q”), which is available free of charge on the SEC’s public website.
“BNL continued to grow its real estate portfolio during the third quarter of 2017,” said Chris Czarnecki, BNL’s Chief Executive Officer. “We acquired $159.2 million of properties via seven real estate acquisitions, bringing our total acquisitions for the year to $352.0 million at a weighted average initial cash capitalization rate of 7.4%. While our per share results have been impacted by the timing difference between ongoing equity raises and capital deployment, we’ve maintained diligence in our credit underwriting standards, focusing on long-term growth and continual enhancements to the credit profile of our portfolio. We maintain our dedication to quality investments and achieving an appropriate risk-adjusted return for our shareholders.”
Click here to download a full PDF of the third quarter 2017 BNL earnings release.