Broadstone REIT Acquires Seven Net- Leased Properties for $19.6MM
ROCHESTER, N.Y., Jan. 13, 2012 /PRNewswire/ -- Broadstone Real Estate, LLC today announced that Broadstone Net Lease, Inc. (BNL) recently completed the acquisition of five absolute net-leased medical office sites, a single restaurant site, and a state of the art Class A mixed industrial office for a combined purchase price of $19.6MM.
On December 29, 2011, BNL acquired five medical office buildings in a sale and lease back transaction with My Dentist Holdings, LLC. My Dentist is a leading dental practice company with sites across Oklahoma, Texas and Missouri. The properties are located throughout the state of Oklahoma. All of the sites are master leased on an absolute net basis for 15 years.
On the last business day of 2011 BNL acquired a Taco Bell site located in Jackson, Tennessee. The acquisition was completed via a sale and lease back transaction and the term of the initial lease runs for 19 years.
On January 10, 2012 BNL acquired the Storr Office Environments industrial building located in Raleigh, North Carolina. The building has approximately 23,000 square feet of office space and 112,000 square feet of warehouse space. The acquisition was completed via a sale and lease back transaction and the term of the initial lease runs for 12 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, industrial, restaurant, convenience store and specialty office, including 98 properties located in 23 states. It is currently targeting acquisitions in the $5 to $30 million range. The REIT is managed by Broadstone Real Estate, LLC. Additional information can be found at www.BroadstoneRE.com.
SOURCE Broadstone Real Estate, LLC
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