News

Broadstone Net Lease REIT Recasts and Increases Credit Facility

ROCHESTER, N.Y. – On Friday, June 27, 2014, Broadstone Net Lease (BNL), a private real estate investment trust (REIT) managed by Broadstone Real Estate, announced a recast of its October 2012 multi-bank unsecured credit facility.  Wells Fargo Bank N.A. and SunTrust Bank were added to the syndicated facility, which already includedM&T Bank (Joint Lead Arranger and Administrative Agent), Regions Bank (Joint Lead Arranger), Bank of Montreal, and RBS Citizens, N.A.  

The facility is comprised of a $50 million unsecured term note and a $165 million revolving line of credit, and lowers BNL’s borrowing costs by 25-35 basis points, depending on the REIT’s overall leverage. It has an initial 3-year term and can be extended at BNL’s option for up to two, 12-month periods.  Broadstone now has more than $400 million in unsecured debt commitments across its two credit facilities.  “Increasing our line of credit from $100 million to $165 million provides us with exceptional flexibility as we increase our acquisitions pace,” said Broadstone’s CFO, Chris Czarnecki. “The improved pricing on this facility is reflective of our growing size, conservative capital structure, and well-managed portfolio.”  Continue reading

News

BNL Acquisition: Siemens (Elgin, IL)

Broadstone Net Lease has acquired a Siemens facility in Elgin, ILsiemens

  • Closing Date:  June 10, 2014
  • Lease Type:  Triple-net
  • Lease Length:  10.5 years
  • Rent Increases:  2.05% annually
  • LEED rated project
  • Broker/source:  Proprietary

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

Broadstone CEO Amy Tait to Present at NAREIT’s REIT Week 2014

ROCHESTER, N.Y. – Broadstone Real Estate, LLC (Broadstone) announced today that company Chairman, President & CEO Amy Tait will present at NAREIT’s REIT Week 2014.  Tait, a member of the NAREIT Board of Governors, will be joined by Broadstone CFO Chris Czarnecki to discuss Broadstone’s private, net-lease REIT, Broadstone Net Lease (BNL).

The presentation will take place Wednesday, June 4th, 2014 at 11:00 am EST in the Herbert Hoover room at the Waldorf Astoria in New York, NY, and will also be available via live webcast using the following link:  http://reitstream.com/reitweek2014/broadstone.

An archive of the presentation will be available via the same link through September 4th, 2014.

Continue reading