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Broadstone Net Lease

“Our consistent results are due in part to our selection of credit-worthy tenants with demonstrated operating history in businesses that are typically recession resistant.”

–Norm Leenhouts, Chief Investment Officer

Broadstone Net Lease is a private Real Estate Investment Trust (REIT) that acquires and holds freestanding, single-tenant, net-leased properties. It is focused on generating predictable, tax-sheltered cash flow and attractive total return for Shareholders. The REIT is externally managed by Broadstone Real Estate, LLC, and has no direct employees.

Founded by the Leenhouts and Tait families, who previously founded the now publicly traded Home Properties, Inc.,* Broadstone Net Lease began admitting outside shareholders on December 31, 2007. Today, there are approximately 1,100 accredited investors who have collectively invested more than $520 million cash and have contributed approximately $50 million of properties to the REIT through UPREIT transactions. Since inception, share price has increased from $50 to $73, and distributions have grown from $3.50 to $4.86 per share.  Shares are offered via private placement, and new investors are accepted on a monthly basis.

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Investor Information

  • 6.6% Annualized Distribution: monthly distribution fully covered by BNL’s current operations
  • Substantial tax sheltering of distributions for taxable investors; 1099 tax reporting
  • Direct placement of shares, undiluted by brokerage commissions or placement fees
  • Monthly closings held for new and additional equity investments
  • Substantial Management Investment: more than $25 million of shares held by management, acquired at the same price and terms as other shareholders
  • Open to accredited high net-worth individual and institutional investors
  • Fee Structure designed to be attractive to institutions, endowments, pension funds, family offices and high net worth individuals
  • Minimum initial investment (direct): $500,000
  • Minimum initial investment (via financial adviser): $250,000
  • BNL is audited by Ernst & Young

*Broadstone Real Estate, its principals and affiliated REITs are not currently affiliated with Home Properties, Inc.

Investment Strategy

Broadstone Net Lease acquires freestanding, single-tenant properties triple-net leased to credit worthy tenants and brands.  The portfolio uses conservative leverage and is constructed of long-term leases with contractual rent increases to help withstand economic volatility.

Why triple-net leased properties?

  • High return relative to risk level assumed
  • Predictable returns due to tenant responsibilities and long term leases
  • Opportunity for growth in cash flow and valuation attributable to contractual rent increases
  • Ability to access favorable debt financing due to predictable cash flows
  • Growth in rent and ownership of real assets helps to hedge against inflation
  • Still a very fragmented industry and imperfect market, with opportunities for astute buyers
  • Opportunity to add value at time of acquisition through proper negotiation and underwriting

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Portfolio & Acquisitions

Broadstone Net Lease portfolio

  • 248 net-leased properties in 32 states with 70 tenants, diversified by geography and industry
  • Over $1.1 billion in total assets (market value)
  • Tenants include well-known retail, industrial and medical brands
  • Long-term leases (average remaining lease term of approximately 14 years) with contractual rent increases

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Performance

  • 6.6% Annualized Distribution (based on current share price as of 5/1/2015)– paid monthly, covered by BNL’s Funds From Operations (FFO)
  • Determined share value has increased 14 times since inception, from $50 to $73*
  • Annual distribution per share has increased 7 times since inception, from $3.50 to $4.86**
Past performance does not guarantee future results.  All performance data is net of fees and expenses.  Please view an important list of disclosures and risk factors.
*View explanation of how DSV is calculated.
**Annual distribution per share is not guaranteed and is determined at the discretion of the Broadstone Net Lease, Inc. Board of Directors.

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Property Map

Broadstone owns a wide range of commercial, retail, medical and industrial properties throughout the United States.

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Broadstone Net Lease Board of Directors

Amy Tait – Chairman & CEO

Norman Leenhouts – Director & Chief Investment Officer

Geoff Rosenberger – Lead Independent Director

Shekar Narasimhan – Independent Director

James Watters – Independent Director

David Jacobstein – Independent Director

Mary Beth McCormick – Independent Director

 

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