Broadstone REIT Acquires Five Net-Leased Medical Office Properties for $18.4MM

ROCHESTER, N.Y., Feb. 11, 2011 /PRNewswire/ -- Broadstone Real Estate, LLC today announced that Broadstone Net Lease, Inc. (BNL) recently completed the acquisition of five triple net-leased medical office properties for a combined purchase price of $18.4MM.

On January 14, 2011, BNL acquired four radiology centers in a sale and lease back transaction. The properties are located in the greater Tampa Bay, FL area. The four sites comprise more than 50,000 SF and are leased to Tower Radiology Centers for 15 years. Tower is the leading outpatient imaging provider in the Tampa Bay area with 11 locations and more than 30 radiologists.

On January 31, 2011, BNL also completed a sale and lease back transaction for the Plastic and Cosmetic Surgery Center of Texas. The 11,000 SF site is located in Plano, TX and is leased for an initial term of 15 years.

Broadstone Net Lease, Inc. is a private Real Estate Investment Trust (REIT) that invests in freestanding, single-tenant, absolute net-leased properties located throughout the United States. BNL now holds a diversified portfolio of medical office, restaurant, convenience store, specialty office and distribution centers, including 79 properties located in 21 states.  It is currently targeting acquisitions in the $5 to $30 million range. The REIT is managed by Broadstone Real Estate, LLC which is certified as a Women's Business Enterprise by the Women's Business Enterprise National Council. Additional information can be found at www.BroadstoneRE.com.

SOURCE Broadstone Real Estate, LLC