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Broadstone REIT Acquires Three Net-Leased Properties for $36 Million

Broadstone Real Estate LLC says Broadstone Net Lease (BNL), a private real estate investment trust (REIT), has acquired three triple net-leased properties for a combined purchase price of $36.1 million, the company says.

BNL acquired the Unity at Ridgeway medical office property in Rochester, N.Y., a Class-A property master leased to Unity Health System for 20 years. The four-story, 120,000 sq. ft. building is subleased to a variety of tenants specializing in cardiology, obstetrics and gynecology, neurology, rehabilitation, diabetes treatment, medical imaging and other disciplines.

BNL also has completed the acquisition of the 20,473 sq. ft. Guardian Urgent Care Center in Westminster, Colo., with an initial lease term of 15 years. On Dec. 30, BNL acquired a distribution center in St. Louis, Mo. The 81,000 sq. ft. property is leased to Jeffco Trucking for an initial term of 20 years.

Altogether in 2010, BNL acquired 21 net-leased properties for a combined purchase price of $83.1 million.

The company is looking for deals in the range of $5 million to $30 million. Besides office space, BNL’s portfolio includes restaurant, convenience store, and distribution centers, including 74 properties in 21 states.

The REIT is managed by BRE, which recently received certification as a Women's Business Enterprise by the Women's Business Enterprise National Council.

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