News

Broadtree Homes Enters Binding Agreement to Acquire 175+ Homes in Atlanta

Rochester, NY – Broadtree Homes (BTH) has entered into a binding contract with a regional single-family home investor to acquire a  portfolio of nearly 180 homes in the Atlanta, Georgia market for approximately $14 million.  The Seller of the portfolio is a regional manager with a track record of results-driven performance, gained over thirteen (13) years in the single-family space, and will continue to operate as the property manager for the Atlanta portfolio.  The Seller has other assets in Mid-Atlantic and Southeastern markets.

With only title and HOA reviews remaining, Broadtree is nearing the completion of due diligence, and expects to close in mid-June.

Portfolio characteristics:

  • In most instances, every major system in the homes has been rebuilt and modernized from electrical, plumbing and HVAC to structural and finish work.
  • Current occupancy of 92%
  • Average tenancy duration of approximately three (3) years
  • Average home price under $80,000 with average cost per square foot less than $50.00
News

Broadstone Net Lease Increases Yield to 7%¹

Private REIT Moves to Monthly Dividends

ROCHESTER, N.Y. – Broadstone Net Lease (BNL), a private real estate investment trust (REIT) managed by Broadstone Real Estate, has declared a quarterly dividend of $1.12 for the first quarter of 2014, and also announced that it will shift to a monthly dividend going forward. The new monthly dividend will be 39 cents per share, reflecting a payout ratio of approximately 90% of the REIT’s adjusted operating funds from operations (O-AFFO.) The new annualized dividend represents a 4.4% increase, following a 6.6% increase in February, and equates to a 7% annualized yield.

The REIT’s independent board members also voted to increase the determined share value from $66 to $67 per share for new investments received during May, June and July of 2014. In 2013, BNL generated O-AFFO growth per share of over 18% and total return of 17.9%. Since 12/31/2007 inception, the REIT has generated an average total annual return of 12.2%.² Continue reading

News

BNL Acquisition: Buffalo Wild Wings (Laredo, TX)

Broadstone Net Lease has acquired a Buffalo Wild Wings restaurant in Laredo, TX.BW3

  • Closing Date:  May 19, 2014
  • Lease Type:  Triple-net
  • Lease Length:  13 years
  • Rent Increases:  2.5% annually
  • Broker/source:  Philip Levy, Marcus & Millichap

Note: The brand listed may not represent BNL’s actual tenant but a lease guarantor, tenant franchise or a D/B/A (doing business as). 

News

The Hess Collection Winery Increases Sustainability Commitment With Solar Installation

SolarCraft System Provides Nearly 100% Of Winery’s Power Needs at BNL-Owned Facility

Napa, Calif. (May 6, 2014) ─ The Hess Collection Napa Green-certified winery and distribution warehouse in American Canyon where Hess Select wines are produced has added a new roof-mounted solar power system which will provide nearly all the energy needs of the winery.

Click here to download Hess Collection’s official press release