Broadstone Reit acquires 21 net leased properties for USD38.8m
Broadstone Net Lease (BNL) has completed the acquisition of 21 net leased properties for a combined purchase price of USD38.8m.
On 26 June, BNL acquired two industrial buildings totalling 132,866 square feet located in Ohio via a sale and lease back transaction. The properties are leased to Enginetics Aerospace for an initial lease term of 17 years. Enginetics Aerospace produces specialty fabricated parts for the aerospace industry.
On 2 July, BNL acquired six Wendy's restaurants located throughout West Virginia, Ohio and Pennsylvania. The acquisition was completed via a sale and lease back transaction and the term of the initial lease runs for 20 years.
On 21 September, BNL acquired a medical office building located in Greensboro, North Carolina via a sale and lease back transaction. The property is leased to Southeastern Eye Center for an initial lease term of 15 years. Southeastern Eye Center offers a variety of state of the art eye surgical services such as Lasik, Retinal, Cornea and Glaucoma procedures.
On 18 October, BNL acquired a medical office building in Lewisville, Texas via a sale and lease back transaction with My Dentist Holdings on an absolute net basis for 14 years. My Dentist is a dental practice company.
On 18 October, BNL acquired 11 Kentucky Fried Chicken restaurants throughout Chicago, Illinois in a sale and lease back transaction. All of the sites are master leased on an absolute net basis for 14 years.
BNL also sold one of its smaller restaurant assets in October 2012.
"All of these great acquisitions continue to diversify BNL's portfolio in three of our key growth segments of medical office, industrial and restaurants," says Amy Tait (pictured), chairman and chief executive of Broadstone Net Lease.
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