Broadstone REIT Acquires 11 Net Leased Properties For $19.8 Million
ROCHESTER, N.Y., Aug. 1, 2013 /PRNewswire/ -- Broadstone Real Estate, LLC today announced that Broadstone Net Lease, Inc. (BNL) recently completed the acquisition of eleven net leased properties for a combined purchase price of $19.8 million.
On July 2, 2013, BNL acquired an additional six Taco Bell locations in the Tampa, FL MSA on an absolute net basis with an initial effective lease term of 20 years. Broadstone Net Lease now owns 30 Taco Bell locations in 4 states leased with an average remaining term of 17 years.
On July 26, 2013, BNL acquired a portfolio of an additional five My Dentist locations in Kansas, Missouri, Oklahoma and Texas. These locations are leased on an absolute net basis with an initial term of 16 years. BNL now owns 21 My Dentist sites in 5 States.
Broadstone Net Lease, Inc. is a private Real Estate Investment Trust (REIT) that invests in freestanding, single-tenant, absolute net-leased properties located throughout the United States. BNL holds a diversified portfolio of 187 properties located in 27 states that includes medical office, industrial, restaurant, convenience store and specialty office sites. It is currently targeting acquisitions in the $5 to $50 million range. The REIT is managed by Broadstone Real Estate, LLC. Broadstone Real Estate, LLC is a certified Woman Owned Enterprise. Additional information can be found at www.BroadstoneRE.com.
SOURCE Broadstone Real Estate, LLC