Broadstone REIT Acquires 7 Net Leased Properties For $49.5 Million
ROCHESTER, N.Y., June 13, 2013 /PRNewswire/ -- Broadstone Real Estate, LLC today announced that Broadstone Net Lease, Inc. (BNL) recently completed the acquisition of seven net leased properties for a combined purchase price of $49.5 million.
On April 23, 2013, BNL acquired an Applebee's located in Roanoke, Virginia on an absolute net basis with a lease term of 16 years.
On June 5, 2013, BNL acquired a portfolio of six medical office buildings tenanted by four separate hospital systems in three states. Four of the properties are located in Wisconsin, two of which are tenanted by Medical College of Wisconsin and the others occupied by Froedtert Memorial Lutheran Hospital. The remaining properties are located in Illinois and Arizona and are tenanted by Edwards Hospital and Banner Health respectively. The sites are used for primary care, imaging, OBGYN, diagnostic and administrative functions and are leased on an absolute net basis with terms ranging from 7 to 13 years.
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 177 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