secwatch.observer — SEC 8-K summary
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Issuer:     Broadstone Net Lease, Inc. (BNL)
CIK:        0001424182
Form:       8-K
Filed at:   2024-09-09T23:59:59+00:00
Accession:  0000950170-24-104540
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Broadstone Net Lease updates on $375.6M YTD investments; Red Lobster leases assumed
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- Invested $375.6M YTD: $234.3M acquisitions, $86.1M development fundings, $52.2M transitional capital, $3.0M capex.
- Committed $453.7M to fund developments; sold 2.0M ATM shares forward for ~$36.5M gross proceeds, unsettled.
- UNFI build-to-suit rent commenced; UNFI to become #2 tenant by ABR with ~$25.1M closeout expenses expected Q4 2024.
- Red Lobster bankruptcy resolved; all 18 locations (1.6% of ABR) assumed under master lease, operations continue.
- CEO cites positive momentum; development pipeline provides accretive growth through 2025 and 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1424182/000095017024104540/0000950170-24-104540-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1424182/000095017024104540/bnl-20240909.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-104540

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer