Broadstone REIT Acquires Three Net-Leased Properties for $9.5MM

ROCHESTER, N.Y., June 28, 2011 /PRNewswire/ -- Broadstone Real Estate, LLC today announced that Broadstone Net Lease, Inc. (BNL) recently completed the acquisition of three absolute net-leased properties for a combined purchase price of $9.5MM.

On May 27, 2011, BNL acquired a 26,000 square foot laboratory facility located in Knoxville, TN.  The property is leased for 16 years to TestAmerica, Inc. TestAmerica is a leading environmental testing company; the site serves as a testing laboratory for air, water, soil and other samples for TestAmerica.

On June 24, 2011, BNL acquired two medical office properties in Houston, TX via a sale and lease back transaction. The two properties comprise approximately 30,500 square feet of space and are both leased to FM 1960 Family Practice for the next 12 years. General practitioners, eye physicians, respiratory specialists, oncologists and other medical groups utilize the space.

The REIT also sold two of its smaller assets in the second quarter for $1.4MM.

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 85 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

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