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Broadstone Net Lease, Inc. Announces Pricing of $150 Million Private Notes Placement

ROCHESTER, N.Y. – Broadstone Net Lease, Inc. (BNL), a private real estate investment trust (REIT) managed by Broadstone Real Estate, LLC (Broadstone), today announced that it has received commitments to purchase an aggregate principal amount of $150 million of senior unsecured notes (Notes) to be issued by BNL’s operating company, Broadstone Net Lease, LLC, and guaranteed by BNL. Continue reading

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Broadstone Announces Organizational Changes and Staff Promotions

Amy L. Tait Assumes Role of Executive Chairman and Chief Investment Officer, Christopher J. Czarnecki Appointed Chief Executive Officer

Amy TaitCzarnecki_portraitROCHESTER, N.Y.- Broadstone Real Estate, LLC (Broadstone, BRE) today announced numerous organizational changes and promotions of key personnel. The changes are effective immediately, and have been approved by the company’s Board of Managers, along with the Boards of Directors of the two private real estate investment trusts (REITs) sponsored and managed by the firm, Broadstone Net Lease, Inc. (BNL) and Broadtree Residential, Inc. (BTR).  Continue reading

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Broadstone Net Lease, Inc. REIT Announces 2016 Year-End Results

Private REIT Raised $290+ Million in Equity, Acquired 88 Properties for $518+ Million

ROCHESTER, N.Y.- Broadstone Net Lease, Inc. (BNL), a private real estate investment trust (REIT) managed by Broadstone Real Estate, LLC (Broadstone), continues to grow its nationwide portfolio of freestanding, single-tenant, triple-net leased commercial properties. Today, BNL announced fourth quarter acquisitions of $137.8 million, as the REIT acquired 17 properties in eight transactions. In aggregate for 2016, BNL acquired 88 properties via 22 distinct transactions for $518.8 million, collected 100% of potential rental income, and completed strategic dispositions of nine properties totaling $39.5 million. Continue reading

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Broadstone Announces the Death of Co-Founder Norman Leenhouts

ROCHESTER, N.Y.- Broadstone Real Estate, LLC (Broadstone), with profound sadness, today announced the passing of co-founder and senior advisor Norman Leenhouts, known to his colleagues and friends affectionately as “Norm”. Norm passed away peacefully in his home with family by his side on Saturday, January 7, at the age of 81.

“My father will best be remembered by his entrepreneurial spirit, humble generosity, kind heart, and brilliant mind. It was an honor and remarkable experience for me to be able to work with him for over three decades,” said his daughter, Amy Tait, Chairman and CEO. “His legacy will live on with the many, many people that he has mentored and influenced in his lifetime.” Continue reading

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BNL Property Acquisition: Florida Institute of Technology

Broadstone Net Lease has acquired a three story, custom-built office building in Melbourne, Florida, tenanted by Florida Institute of Technology. Florida Tech utilizes the property for admissions and financial aid offices, the registrar, classrooms, student common areas, and psychology departmental offices. The property was acquired via lease assumption.

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Broadtree Residential Acquires 264-Unit Multifamily Apartment Community in Atlanta Area

Private REIT Continues to Grow Atlanta Presence

ROCHESTER, N.Y. – Broadtree Residential (Broadtree), a private real estate investment trust (REIT) managed by Broadstone Real Estate, LLC (Broadstone), today announced the acquisition of “Somerset at the Crossings” (Somerset), a 264-unit multifamily community located in Tucker, Georgia, for a purchase price of $23.5 million. Continue reading