Broadstone REIT Acquires 21 Net Leased Properties For $38.8 Million
ROCHESTER, N.Y., Oct. 30, 2012 /PRNewswire/ -- Broadstone Real Estate, LLC today announced that Broadstone Net Lease, Inc. (BNL) recently completed the acquisition of 21 net leased properties for a combined purchase price of $38.8 million.
On June 26, 2012, BNL acquired two industrial buildings totaling 132,866 square feet located in Ohio via a sale and lease back transaction. The properties are leased to Enginetics Aerospace for an initial lease term of 17 years. Enginetics Aerospace produces specialty fabricated parts for the aerospace industry.
On July 2, 2012, BNL acquired six Wendy's restaurants located throughout West Virginia, Ohio and Pennsylvania. The acquisition was completed via a sale and lease back transaction and the term of the initial lease runs for 20 years.
On September 21, 2012, BNL acquired a medical office building located in Greensboro, North Carolina via a sale and lease back transaction. The property is leased to Southeastern Eye Center for an initial lease term of 15 years. Southeastern Eye Center offers a variety of state of the art eye surgical services such as Lasik, Retinal, Cornea and Glaucoma procedures.
On October 18, 2012, BNL acquired a medical office building in Lewisville, Texas via a sale and lease back transaction with My Dentist Holdings, LLC on an absolute net basis for 14 years. My Dentist is a leading dental practice company.
On October 18, 2012, BNL acquired 11 Kentucky Fried Chicken restaurants throughout Chicago, Illinois in a sale and lease back transaction. All of the sites are master leased on an absolute net basis for 14 years.
BNL also sold one of its smaller restaurant assets in October, 2012.
"All of these great acquisitions continue to diversify BNL's portfolio in three of our key growth segments of Medical Office, Industrial and Restaurants," said Amy Tait, Chairman and CEO of Broadstone Net Lease.
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 now holds a diversified portfolio of medical office, industrial, restaurant, convenience store and specialty office, including 142 properties located in 24 states. It is currently targeting acquisitions in the $5 to $30 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