Broadstone Net Lease acquires $735m for industrial portfolio

Broadstone Net Lease (BNL) has acquired a portfolio of 23 industrial and office/flex assets that are fully leased and include 6.9 million rentable square feet of operational space for an aggregate purchase price of approximately $735.7 million, excluding capitalized acquisition expenses.

“We are excited to announce this transformational transaction for Broadstone Net Lease and its shareholders,” said Chris Czarnecki, BNL’s CEO. “This portfolio benefits from attractive real estate and tenant fundamentals and represents a diverse and accretive addition to our net lease real estate portfolio. Although this transaction results in a short-term increase in leverage, consistent with our growth priorities and commitment to maintaining our investment grade credit rating, we remain highly focused on continuing to actively manage our leverage profile and overall liquidity position.”

The portfolio is well diversified with 19 different ten