Broadstone Net Lease Provides Update on Q3 2022 Acquisitions Activity

Rhea-AI Summary

Broadstone Net Lease, Inc. (NYSE: BNL) has reported an acquisition update, revealing an additional $80.2 million in acquisitions since the end of Q2 2022. Currently, BNL has $367.8 million of properties under control, which includes two industrial sale-leaseback transactions worth over $290 million. BNL focuses on industrial, healthcare, restaurant, and retail asset classes and aims to enhance its portfolio through strategic, long-term net leases with varied tenants across North America.

Positive

• Acquired an additional $80.2 million in properties, showcasing active growth.
• Currently controlling $367.8 million in properties, indicating strong market position.
• Focus on industrial and healthcare assets aligns with market demand.

Negative

• None.

ROCHESTER, N.Y.--(BUSINESS WIRE)-- Broadstone Net Lease, Inc. (NYSE: BNL), (“BNL”), continues to build and evaluate a robust pipeline of potential investment opportunities predominantly focused on industrial, healthcare, restaurant, and retail asset classes. Today, BNL provided an update on third quarter acquisitions activity. Subsequent to the quarter ended June 30, 2022, we closed an additional $80.2 million of acquisitions and currently have $367.8 million of properties under control, inclusive of two direct industrial sale-leaseback transactions covering 11 assets for over $290 million. BNL defines properties under control as under contract or executed letter of intent.

About Broadstone Net Lease, Inc.

BNL is a real estate investment trust that acquires, owns, and manages primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. The Company utilizes an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting. As of June 30, 2022, BNL’s diversified portfolio consisted of 764 individual commercial properties with 757 properties located in 44 U.S. states and seven properties located in four Canadian provinces across the industrial, healthcare, restaurant, retail, and office commercial property types.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220810005761/en/

Company Contact:

Michael Caruso

SVP, Corporate Finance & Investor Relations

michael.caruso@broadstone.com

585.402.7842

Source: Broadstone Net Lease, Inc.

FAQ

What recent acquisitions has Broadstone Net Lease, Inc. made?

Broadstone Net Lease, Inc. has made additional acquisitions totaling $80.2 million since the end of Q2 2022.

How much property does BNL currently control?

BNL currently controls $367.8 million in properties, including two sale-leaseback transactions for over $290 million.

What types of assets does Broadstone Net Lease focus on?

BNL predominantly focuses on industrial, healthcare, restaurant, and retail asset classes.

What is the significance of BNL's acquisition strategy?

BNL's acquisition strategy aims to enhance its portfolio with long-term net leases and diversified tenants, reflecting strong market positioning.

When was the last financial update from BNL?

The last financial update, including these acquisitions, was provided after the end of Q2 2022.