Broadstone Net Lease (BNL) plans to raise $603 million in an initial public offering (IPO) on Thursday, September 17th, IPO Scoop reports. The company will issue 33,500,000 shares at $17.00-$19.00 per share.
In the last 12 months, Broadstone Net Lease generated $319.9 million in revenue and $75.5 million in net income. Broadstone Net Lease has a market-cap of $2.6 billion.
J.P. Morgan, Goldman Sachs, BMO Capital Markets, Morgan Stanley, Capital One Securities and Truist Securities served as the underwriters for the IPO and Regions Securities, BTIG, KeyBanc Capital Markets and Ramirez were co-managers.
Broadstone Net Lease provided the following description of their company for its IPO: ” 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. “.
Broadstone Net Lease was founded in 2007 and has 73 employees. The company is located at 800 Clinton Square Rochester, New York 14604, US and can be reached via phone at (585) 287-6500 or on the web at http://investors.bnl.broadstone.com.
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