Broadstone Net Lease invests $255.4M YTD, sells 40 properties, notes Red Lobster bankruptcy

Broadstone Net Lease, Inc.

Invested $255.4M YTD: $193.6M in new properties, $58.8M development fundings, $3.0M revenue capex.
Sold 40 properties for $276.1M at 7.8% cap rate; 38 were healthcare portfolio simplification.
Portfolio 99.3% leased; rent collection 99.8% excluding Green Valley Medical Center.
Red Lobster filed Ch.11; all 18 BNL locations (1.6% of ABR) remain operational.
CEO and CFO to present at Nareit REITWeek on June 4, 2024.

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