Broadstone REIT Acquires Six Medical Office Properties For $17.2 Million
ROCHESTER, N.Y., May 25, 2012 /PRNewswire/ -- Broadstone Real Estate, LLC today announced that Broadstone Net Lease, Inc. (BNL) recently completed the acquisition of six net-leased properties for a combined purchase price of $17.2 million.
On May 10, 2012, BNL acquired a medical office building located in Crestview Hills, Kentucky via a sale and lease back transaction. The property is leased to Tri-State Gastroenterology Associates for an initial lease term of 15 years.
On May 17, 2012, 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. The properties are located throughout the states of Arkansas, Kansas, Oklahoma and Texas. All of the sites are master leased on an absolute net basis for 15 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 123 properties located in 24 states. It is currently targeting acquisitions in the $5 to $30 million range. The REIT is managed by Broadstone Real Estate, LLC. Broadstone Real Estate, LLC is a certified Woman Owned Enterprise. Additional information can be found at www.BroadstoneRE.com.
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