Broadstone Net Lease Acquires 25 Bob Evans Restaurant Properties for $48.9 Million

ROCHESTER, N.Y., May 30, 2017 -- Broadstone Net Lease, Inc. (BNL), a private real estate investment trust (REIT) managed by Broadstone Real Estate, LLC (Broadstone), continues to grow its national portfolio of triple-net leased commercial properties. Today, BNL announced the sale leaseback acquisition of a portfolio of 25 Bob Evans Restaurant locations in eight states, for a total purchase price of approximately $48.9 million. The properties are located in Illinois, Indiana, Kentucky, Maryland, Michigan, Ohio, Pennsylvania, and West Virginia.

On April 28, 2017, an affiliate of Golden Gate Capital (GGC) acquired Bob Evans Restaurants from Bob Evans Farms, Inc.

“BNL’s sale leaseback acquisition of the Bob Evans portfolio further adds to and diversifies our REIT’s retail holdings,” said Chris Czarnecki, CEO of Broadstone. “BNL has now surpassed $2.2 billion in assets, and looks forward to announcing additional acquisitions in the coming months.”

About Broadstone Net Lease:

Broadstone Net Lease (BNL) invests in freestanding, single-tenant, triple-net leased properties located throughout the United States, primarily via sale and leaseback transactions. With a diversified portfolio of 449 medical, industrial and retail properties in 37 states, the REIT targets individual or portfolio acquisitions within the $10 to $200+ million range.

There are currently more than 2,000 shareholders in BNL, which is externally managed by Broadstone Real Estate, LLC. BNL remains open for new investment by accredited investors on a monthly basis, with a minimum investment of $500,000. Shares are offered directly by Broadstone via private placement. Please see certain important disclosures regarding BNL at broadstone.com/disclosures.

Accredited investors are invited to download an investor kit: broadstone.com/be.

Media Contact: 
Emma Bliss
Senior Associate, Marketing
[email protected]
585.287.6479