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Broadstone Net Lease Priced, NYSE: BNL

Single-tenant commercial net lease REIT with 633 properties in the US and Canada.

Industry: Real Estate

Latest Trade: $16.59 0.00 (0.0%)

First Day Return: -4.1%

Return from IPO: -2.4%

Industry: Real Estate

We are an internally-managed REIT that acquires, owns, and manages primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. We utilize an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting. Since our inception in 2007, we have selectively invested in net leased real estate across the industrial, healthcare, restaurant, office, and retail property types, and as of June 30, 2020, our portfolio has grown to 632 properties in 41 U.S. states and one property in Canada, with an aggregate gross asset value of approximately $4.0 billion. We focus on investing in real estate that is operated by creditworthy single tenants in industries characterized by positive business drivers and trends, where the properties are an integral part of the tenants’ businesses and there are opportunities to secure long-term net leases. Through long-term net leases, our tenants are able to retain operational control of their strategically important locations, while allocating their debt and equity capital to fund their core business operations rather than real estate ownership.
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IPO News for Broadstone Net Lease
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IPO Data
IPO File Date 08/05/2020
Offer Price $17.00
Price Range $17.00 - $19.00
Offer Shares (mm) 33.5
Deal Size ($mm) $570
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 09/16/2020
Offer Price $17.00
Price Range $17.00 - $19.00
Offer Shares (mm) 33.5
Deal Size ($mm) $570
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
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Company Data
Headquarters Rochester, NY
Founded 2007
Employees 73
Website www.broadstone.com