Welcome!

News Feed Item

Surge in Acquisitions for Broadstone Net Lease

Total ownership increases to more than 200 properties in 29 states

ROCHESTER, N.Y., Jan. 7, 2014 /PRNewswire/ -- Broadstone Real Estate LLC continues to grow its nationwide portfolio of triple-net leased properties. The company announced today that Broadstone Net Lease (BNL), its private Real Estate Investment Trust (REIT), acquired 41 properties during 2013 at a combined purchase price of over $188 million. The BNL portfolio now has a total market capitalization of over $750 million.

Nearly half of the acquisition volume during the past year took place in the fourth quarter, when BNL acquired 20 properties for more than $102 million. The acquisitions included medical facilities in Virginia and Alabama, retail automotive properties in California, a portfolio of eight wholesale landscape supply properties in six states, and industrial facilities in Illinois, Michigan and Colorado.

The largest fourth-quarter acquisition was the 165,000 square foot Johnstown, Colo., facility of Fiberspar, a subsidiary of National Oilwell Varco, which manufactures flexible, corrosion-resistant piping for the oil and gas industry.

The REIT also selectively sold properties totaling approximately $20 million during the year.  In total, Broadstone Net Lease increased its net holdings to 203 properties in 29 states.

"With going-in yields on acquisitions still significantly exceeding our cost of long-term debt and equity capital, there are ample opportunities to make accretive acquisitions," said Amy Tait, Broadstone chairman and CEO. "These compelling additions continue to strengthen the quality of our portfolio while also increasing our diversification by industry, geography and tenant."

"Our conservative and flexible capital structure allows us to execute rapidly on very favorable transactions, while the expertise of our acquisitions and legal teams ensures adherence to vigorous underwriting and due diligence standards," explained Tait. "In the fourth quarter of 2013, we continued to utilize the UPREIT structure to acquire real estate from sellers seeking to defer taxes, receiving units in BNL in exchange for property."

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 targets acquisitions within the $5 to $50 million range.

There are over 700 accredited investors in BNL, which is externally managed by Broadstone Real Estate LLC, a certified Woman Owned Enterprise. 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 or contact the firm's Investor Relations team.



Acquisitions Contacts

Sean Cutt

Brandon Tones

Vice President, Acquisitions

Vice President, Acquisitions

[email protected] 

[email protected]

585.287.6469 

585.287.6468



Investor Relations Contacts

Dave Kasprzak

Chris Brodhead

Vice President of Investor Relations

Director of Investor Relations

[email protected]

[email protected]

585.287.6475

585.287.6499

 

SOURCE Broadstone Real Estate, LLC

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Tricky charts and visually deceptive graphs often make a case for the impact IT performance has on business. The debate isn't around the obvious; of course, IT performance metrics like website load time influence business metrics such as conversions and revenue. Rather, this presentation will explore various data analysis concepts to understand how, and how not to, assert such correlations. In his session at 20th Cloud Expo, Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Sys...
In recent years, containers have taken the world by storm. Companies of all sizes and industries have realized the massive benefits of containers, such as unprecedented mobility, higher hardware utilization, and increased flexibility and agility; however, many containers today are non-persistent. Containers without persistence miss out on many benefits, and in many cases simply pass the responsibility of persistence onto other infrastructure, adding additional complexity.
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his Day 2 Keynote at @ThingsExpo, Henrik Kenani Dahlgren, Portfolio Marketing Manager at Ericsson, discussed how to plan to cooperate, partner, and form lasting all-star teams to change the...
SYS-CON Events announced today that Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Unsecured IoT devices were used to launch crippling DDOS attacks in October 2016, targeting services such as Twitter, Spotify, and GitHub. Subsequent testimony to Congress about potential attacks on office buildings, schools, and hospitals raised the possibility for the IoT to harm and even kill people. What should be done? Does the government need to intervene? This panel at @ThingExpo New York brings together leading IoT and security experts to discuss this very serious topic.
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busine...
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
“We're a global managed hosting provider. Our core customer set is a U.S.-based customer that is looking to go global,” explained Adam Rogers, Managing Director at ANEXIA, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his general session at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore...
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, introduced the technologies required for implementing these idea...
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and G...
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Onalytica. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.