Dear Shareholders – We are pleased to provide you with the results of Broadstone Net Lease, Inc.’s (“BNL,” “we,” “our,” or the “Company”) operations for the second quarter of 2017. As you will note, the format of this earnings release has migrated away from that of our historical quarterly shareholder letter, and will now more closely align with what you may be accustomed to from public reporting companies. Management’s intention is to provide you with the detailed reporting required by the SEC but also to provide a useful summary for investors to quickly get up to speed on the quarter’s results via this earnings release. More information on BNL’s Q2 performance is available in BNL’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2017, as filed with the SEC on August 10, 2017 (“Q2 2017 10-Q”), which is available free of charge on the SEC’s public website.
“The second quarter of 2017 represented a time of tremendous transition for BNL as our management team and the Company tackled a number of important initiatives which should position the Company for future positive growth,” said Chris Czarnecki, BNL’s Chief Executive Officer. “We achieved a number of milestones, including registering our common stock under the Exchange Act with the SEC and becoming a public reporting company, recasting our credit facilities to align with our investment-grade credit status, completing our first debt private placement and continued expansion of our real estate portfolio via our acquisition efforts. We believe that our dedication to high quality investments and the strengthening of our balance sheet continues to position us to capitalize on opportunities in the market place, and offer appropriate risk-adjusted returns to our shareholders.”
Click here to download a full PDF of the second quarter 2017 BNL earnings release.