ROCHESTER, NY—Locally-based Broadstone Net Lease reports it has acquired 19 properties, including a portfolio of 16 Wendy’s restaurants in four states, for more than $52.6 million.
The private REIT that is managed by Broadstone Real Estate LLC now has a total market capitalization of more than $800 million. The acquisitions, in addition to the Wendy’s portfolio, also include a Golden Corral restaurant in Lexington, KY, a Shemin Landscape Supply location in Greenwich, CT and an industrial facility of the Port City Group located in Norton Shores, MI.
The firm reports it has also sold thus far in 2014 properties totalling more than $13.5 million. At present, Broadstone Net Lease has increased its holdings thus far in 2014 to 211 properties in 31 states.
“Broadstone Net Lease’s growing base of shareholders and lenders has provided us with the consistent ability to quickly close on compelling acquisition opportunities,” said Amy Tait, Broadstone chairman and CEO of Broadstone Net Lease. “These acquisitions and sale leasebacks to credit-worthy tenants are representative of the robust deal flow that we are experiencing.”