Broadstone Net Lease REIT Recasts and Increases Credit Facility

ROCHESTER, N.Y., June 30, 2014 /PRNewswire/ -- On Friday, June 27, 2014, Broadstone Net Lease (BNL), a private real estate investment trust (REIT) managed by Broadstone Real Estate, announced a recast of its October 2012 multi-bank unsecured credit facility. Wells Fargo Bank N.A. and SunTrust Bank were added to the syndicated facility, which already included M&T Bank (Joint Lead Arranger and Administrative Agent), Regions Bank (Joint Lead Arranger), Bank of Montreal, and RBS Citizens, N.A.

The facility is comprised of a $50 million unsecured term note and a $165 million revolving line of credit, and lowers BNL's borrowing costs by 25-35 basis points, depending on the REIT's overall leverage. It has an initial 3-year term and can be extended at BNL's option for up to two, 12-month periods. Broadstone now has more than $400 million in unsecured debt commitments across its two credit facilities. 'Increasing our line of credit from $100 million to $165 million provides us with exceptional flexibility as we increase our acquisitions pace,' said Broadstone's CFO, Chris Czarnecki. 'The improved pricing on this facility is reflective of our growing size, conservative capital structure, and well-managed portfolio.'

About Broadstone Net Lease:
Broadstone Net Lease (BNL) invests in freestanding, single-tenant, triple-net leased properties located throughout the United States. With a diversified portfolio of more than 210 medical, industrial and retail properties in 31 states, the REIT targets individual or portfolio acquisitions within the $5 to $100 million range, and has a total portfolio value in excess of $850 million.

There are over 800 accredited investors in BNL, which is externally managed by Broadstone Real Estate LLC, a certified Women's Business Enterprise (WBE). BNL remains open for new investment by accredited investors on a monthly basis, with a minimum investment of $250,000. For more information, visit Broadstone's website at www.broadstone.com.

SOURCE Broadstone Real Estate