Broadstone REIT Acquires Three Additional Net-Leased Properties for $36.1MM

ROCHESTER, N.Y., Jan. 6, 2011 /PRNewswire/ -- Broadstone Real Estate, LLC (BRE) today announced that Broadstone Net Lease, Inc. (BNL) recently completed the acquisition of three triple net-leased properties for a combined purchase price of $36.1MM.

BNL acquired the Unity at Ridgeway medical office property located in Rochester, NY. Unity at Ridgway is a Class A medical office property that is master leased to Unity Health System (UHS) for 20 years. The four story, 120,000 SF building is subleased to a variety of tenants (most UHS affiliates) specializing in cardiology, OB/GYN, neurology, rehabilitation, diabetes treatment, medical imaging and others.

BNL also completed the acquisition of a 20,473 SF Guardian Urgent Care Center located in Westminster, CO with an initial lease term of 15 years. On December 30, BNL acquired a distribution center located in St. Louis, MO. The 81,000 SF property is leased to Jeffco Trucking for an initial term of 20 years.  All together in 2010, BNL acquired 21 net-leased properties for a combined purchase price of $83.1MM.

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 74 properties located in 21 states.  It is currently targeting acquisitions in the $5 to $30 million range. The REIT is managed by BRE which has recently received certification 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