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Broadstone has acquired 19 properties in 2014

Rochester Business Journal
April 15, 2014

Broadstone Net Lease has acquired 19 properties for $52.6 million so far this year, increasing its market capitalization to more than $800 million, company officials announced Tuesday.

The acquisitions include 16 Wendy’s restaurants in four states; a Golden Corral restaurant in Lexington, Ky.; a Shemin Landscape Supply store in Greenwich, Conn.; and a Port City Group industrial facility in Norton Shores, Mich., officials said.

The real estate investment trust, managed by Rochester-based Broadstone Real Estate LLC, also has sold properties totaling $13.5 million in 2014, officials said.

Broadstone Net Lease now has 211 properties in 31 states, officials said.

“Broadstone Net Lease’s growing base of shareholders and lenders has provided us with the consistent ability to quickly close on compelling acquisition opportunities,” Chairman and CEO Amy Tait said in a statement.

“These acquisitions and sale leasebacks to credit-worthy tenants are representative of the robust deal flow that we are experiencing.”

The REIT has 760 investors from five countries, officials said.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


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