News

Broadstone Net Lease REIT Acquires Siemens Facility for $36.3 Million

Rochester, New York/ PR Newswire/ — Broadstone Real Estate, LLC today announced that Broadstone Net Lease (BNL) recently completed the acquisition of a Siemens facility located in suburban Chicago.  The acquisition is BNL’s largest to date in the Chicago area.  The Broadstone Net Lease REIT now owns 188 properties in 27 states with a total portfolio value of over $700 million.

On October 11th, BNL acquired the 382,200 square foot manufacturing and office facility located in Hoffman Estates, IL for $36.3 million. The recently renovated facility, which sits on 46 acres, is net leased to Siemens through a new 10-year lease, which includes four five-year renewal options and structured annual rent increases.

Continue reading

News

Broadstone Net Lease REIT Closes on $150 Million Senior Unsecured Credit Facility

Rochester, New York/ PR Newswire/ — Broadstone Real Estate, LLC announced that Broadstone Net Lease, Inc. (BNL) has closed on a new $150 million unsecured credit facility. The syndicated facility closed today, October 11, 2013.  Regions Bank, Wells Fargo Bank N.A., Bank of Montreal, and RBS Citizens, N.A. are all participants in the transaction.

The facility is comprised of a $150 million unsecured term note that was fully funded at closing. The facility has an initial 3-year term and can be extended at the Company’s option for up to two, 2-year periods.  “This transaction is exciting for BNL because of the flexibility afforded by the facility’s 7-year horizon which matches well with our long term leases” said Broadstone CFO Chris Czarnecki.

Continue reading