ROCHESTER, N.Y., Sept. 13, 2011 /PRNewswire/ -- Broadstone Real Estate, LLC today announced that Broadstone Net Lease, Inc. (BNL) recently completed the acquisition of six absolute net-leased properties for a combined purchase price of $16.8MM.
On September 8, 2011, BNL acquired five industrial properties in a sale and lease back transaction with Filtration Group, Inc and Cablecraft Motion Controls. The properties are located in South Carolina (2), Washington, Indiana and Missouri. All of the sites are leased on an absolute net basis for 17 years.
BNL acquired a Taco Bell site located in Ripley, TN on September 7, 2011. The acquisition was completed via a sale and lease back transaction and the term of the initial lease runs for 20 years. The REIT also sold one of its smaller restaurant assets in August 2011.
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 91 properties located in 23 states. It is currently targeting acquisitions in the $5 to $30 million range. The REIT is managed by Broadstone Real Estate, LLC which is certified as a Women's Business Enterprise by the Women's Business Enterprise National Council. Additional information can be found at www.BroadstoneRE.com.
SOURCE Broadstone Real Estate, LLC