Broadstone Real Estate LLC announced yesterday that Broadstone Net Lease Inc has completed its purchase of 21 net leased properties for a combined purchase price of $38.8 million.
On 26th June this year, Broadstone Net Lease purchased two industrial buildings located in Ohio, with a total area of 132,866 square feet, through a sale and lease back transaction. These properties are on an initial lease term of 17 years to Enginetics Aerospace, which is a company that manufactures specialty fabricated parts for the aerospace industry. This purchase was followed by the purchase of six Wendy's restaurants on 2ndJuly.
On 21st September, Broadstone Net Lease purchased a medical office building situated in Greensboro in North Carolina, also through a sale and lease back transaction. This property is on an initial lease term of 15 years to Southeastern Eye Center, which offers a number of cutting edge surgical procedures such as Retinal, Lasik, and glaucoma and cornea procedures.
On 18th October, Broadstone Net Lease acquired a medical building located in Lewisville in Texas through a sale and lease back transaction, for 14 years on an absolute net basis, with My Dentist Holdings, which is a leading dental practice company.
Also on 18th October, Broadstone Net Lease purchased 11 Kentucky Fried Chicken food outlets in Chicago, Illinois, through a sale and lease back transaction again, all of which are master leased for 14 years on an absolute net basis.
"All of these great acquisitions continue to diversify BNL's portfolio in three of our key growth segments of medical office, industrial and restaurants," said the chairman and chief executive officer of Broadstone Net Lease, Amy Tait.
