Latest news with #BNL
Business Wire
4 days ago
- Business
- Business Wire
Broadstone Net Lease Provides an Update on Recent Business Activity and Participation at Nareit's REITweek 2025 Annual Conference
VICTOR, N.Y.--(BUSINESS WIRE)--Broadstone Net Lease, Inc. (NYSE: BNL) ('Broadstone,' 'BNL,' the 'Company,' 'we,' 'our,' or 'us'), today provided an update on its recent business activity through June 2, 2025. Additionally, the Company announced that BNL's CEO, John Moragne and CFO, Kevin Fennell, will be participating in the Nareit REITweek 2025 Annual Conference in New York, NY on June 3 and June 4, 2025. JUNE 2025 BUSINESS UPDATE Quarter-to-date, we have invested $83.3 million, including $54.7 million in new property acquisitions and $28.6 million in build-to-suit developments. Year-to-date, we have invested $171.7 million, including $113.7 million in new property acquisitions, and $55.1 million in build-to-suit developments, and $2.8 million in revenue generating capital expenditures. Total investments consist of $152.5 million in industrial properties and $19.2 million in retail properties. As of the date of this release, we have $191.6 million of new property acquisitions under control, consisting of $170.2 million in industrial properties and $21.4 million in retail properties. During the quarter, we successfully sold two healthcare assets for gross proceeds of $5.5 million, bringing our year-to-date total dispositions to $12.9 million. As a result of the second quarter dispositions, we have reduced our Clinical & Surgical healthcare properties to 2.4% of our total ABR. In connection with our previously announced $400 million unsecured term loan maturing in 2028, we exercised the remaining $100 million draw feature, increasing the total term loan to $500 million. The proceeds were used to repay outstanding borrowings on our revolving credit facility. Collected 99.1% of base rents due year-to-date for all properties under lease. The following table summarizes developments that are actively under construction and reflects cumulative investments as of June 2, 2025: (unaudited, in thousands) In-process retail: 7 Brew (High Point - NC) 1 Dec. 2024 Jun. 2025 15.0 1.9 % $ 1,975 $ 1,477 $ 498 8.0 % 8.8 % In-process industrial: Sierra Nevada (Dayton - OH) 122 Oct. 2024 Nov. 2025 15.0 3.0 % 58,563 19,064 39,500 7.6 % 9.4 % Sierra Nevada (Dayton - OH) 122 Oct. 2024 Mar. 2026 15.0 3.0 % 55,525 15,044 40,481 7.7 % 9.6 % Southwire (Bremen - GA) 1,178 Dec. 2024 Jul. 2026 10.0 2.8 % 115,411 15,926 99,485 7.8 % 8.8 % Fiat Chrysler Automobile (Forsyth - GA) 422 Apr. 2025 Aug. 2026 15.0 2.8 % 78,242 10,542 67,700 6.9 % 8.4 % Total / weighted average 1,844 13.1 2.8 % $ 309,716 $ 62,053 $ 247,664 7.5 % 8.9 % Stabilized industrial: UNFI (Sarasota - FL) 1,016 May 2023 Completed 15.0 2.5 % 200,958 200,958 — 7.2 % 8.6 % Stabilized retail: 7 Brew (Charleston - SC) 1 Completed 15.0 1.9 % 1,729 1,035 694 7.9 % 8.8 % Total / weighted average 2,861 13.9 2.7 % $ 512,404 $ 264,046 $ 248,358 7.4 % 8.8 % 1 Represents the estimated first year yield to be generated on a real estate investment, which was computed at the time of investment based on the estimated annual straight-line rental income computed in accordance with GAAP, divided by the estimated total project investment. Expand About Broadstone Net Lease, Inc. BNL is an industrial-focused, diversified net lease REIT that invests in primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. Utilizing an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting, as of March 31, 2025, BNL's diversified portfolio consisted of 769 individual net leased commercial properties with 762 properties located in 44 U.S. states and seven properties located in four Canadian provinces across the industrial, retail, and other property types. Forward-Looking Statements This press release contains 'forward-looking' statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our plans, strategies, and prospects, both business and financial. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as 'outlook,' 'potential,' 'may,' 'will,' 'should,' 'could,' 'seeks,' 'approximately,' 'projects,' 'predicts,' 'expect,' 'intends,' 'anticipates,' 'estimates,' 'plans,' 'would be,' 'believes,' 'continues,' or the negative version of these words or other comparable words. Forward-looking statements, including our 2025 guidance and assumptions, involve known and unknown risks and uncertainties, which may cause BNL's actual future results to differ materially from expected results, including, without limitation, risks and uncertainties related to general economic conditions, including but not limited to increases in the rate of inflation and/or interest rates, local real estate conditions, tenant financial health, property investments and acquisitions, and the timing and uncertainty of completing these property investments and acquisitions, and uncertainties regarding future distributions to our stockholders. These and other risks, assumptions, and uncertainties are described in Item 1A 'Risk Factors' of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was filed with the SEC on February 20, 2025, and the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, which was filed with the SEC on May 1, 2025, both of which you are encouraged to read, and will be available on the SEC's website at Please note that such Risk Factors will be updated, if necessary, through the filing of Quarterly Reports on Form 10-Q. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. The Company assumes no obligation to, and does not currently intend to, update any forward-looking statements after the date of this press release, whether as a result of new information, future events, changes in assumptions, or otherwise.
Yahoo
4 days ago
- Business
- Yahoo
Broadstone Net Lease Provides an Update on Recent Business Activity and Participation at Nareit's REITweek 2025 Annual Conference
VICTOR, N.Y., June 02, 2025--(BUSINESS WIRE)--Broadstone Net Lease, Inc. (NYSE: BNL) ("Broadstone," "BNL," the "Company," "we," "our," or "us"), today provided an update on its recent business activity through June 2, 2025. Additionally, the Company announced that BNL's CEO, John Moragne and CFO, Kevin Fennell, will be participating in the Nareit REITweek 2025 Annual Conference in New York, NY on June 3 and June 4, 2025. JUNE 2025 BUSINESS UPDATE Quarter-to-date, we have invested $83.3 million, including $54.7 million in new property acquisitions and $28.6 million in build-to-suit developments. Year-to-date, we have invested $171.7 million, including $113.7 million in new property acquisitions, and $55.1 million in build-to-suit developments, and $2.8 million in revenue generating capital expenditures. Total investments consist of $152.5 million in industrial properties and $19.2 million in retail properties. As of the date of this release, we have $191.6 million of new property acquisitions under control, consisting of $170.2 million in industrial properties and $21.4 million in retail properties. During the quarter, we successfully sold two healthcare assets for gross proceeds of $5.5 million, bringing our year-to-date total dispositions to $12.9 million. As a result of the second quarter dispositions, we have reduced our Clinical & Surgical healthcare properties to 2.4% of our total ABR. In connection with our previously announced $400 million unsecured term loan maturing in 2028, we exercised the remaining $100 million draw feature, increasing the total term loan to $500 million. The proceeds were used to repay outstanding borrowings on our revolving credit facility. Collected 99.1% of base rents due year-to-date for all properties under lease. The following table summarizes developments that are actively under construction and reflects cumulative investments as of June 2, 2025: (unaudited, in thousands) Property Projected Rentable Square Feet Start Date Target Stabilization Date Lease Term (Years) Annual Rent Escalations Estimated Total Project Investment Cumulative Investment at 6/2/2025 Estimated Remaining Investment Estimated Cash Capitalization Rate Estimated Straight-line Yield1 In-process retail: 7 Brew (High Point - NC) 1 Dec. 2024 Jun. 2025 15.0 1.9 % $ 1,975 $ 1,477 $ 498 8.0 % 8.8 % In-process industrial: Sierra Nevada (Dayton - OH) 122 Oct. 2024 Nov. 2025 15.0 3.0 % 58,563 19,064 39,500 7.6 % 9.4 % Sierra Nevada (Dayton - OH) 122 Oct. 2024 Mar. 2026 15.0 3.0 % 55,525 15,044 40,481 7.7 % 9.6 % Southwire (Bremen - GA) 1,178 Dec. 2024 Jul. 2026 10.0 2.8 % 115,411 15,926 99,485 7.8 % 8.8 % Fiat Chrysler Automobile (Forsyth - GA) 422 Apr. 2025 Aug. 2026 15.0 2.8 % 78,242 10,542 67,700 6.9 % 8.4 % Total / weighted average 1,844 13.1 2.8 % $ 309,716 $ 62,053 $ 247,664 7.5 % 8.9 % Stabilized industrial: UNFI (Sarasota - FL) 1,016 May 2023 Completed 15.0 2.5 % 200,958 200,958 — 7.2 % 8.6 % Stabilized retail: 7 Brew (Charleston - SC) 1 Feb. 2025 Completed 15.0 1.9 % 1,729 1,035 694 7.9 % 8.8 % Total / weighted average 2,861 13.9 2.7 % $ 512,404 $ 264,046 $ 248,358 7.4 % 8.8 % 1 Represents the estimated first year yield to be generated on a real estate investment, which was computed at the time of investment based on the estimated annual straight-line rental income computed in accordance with GAAP, divided by the estimated total project investment. About Broadstone Net Lease, Inc. BNL is an industrial-focused, diversified net lease REIT that invests in primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. Utilizing an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting, as of March 31, 2025, BNL's diversified portfolio consisted of 769 individual net leased commercial properties with 762 properties located in 44 U.S. states and seven properties located in four Canadian provinces across the industrial, retail, and other property types. Forward-Looking Statements This press release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our plans, strategies, and prospects, both business and financial. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as "outlook," "potential," "may," "will," "should," "could," "seeks," "approximately," "projects," "predicts," "expect," "intends," "anticipates," "estimates," "plans," "would be," "believes," "continues," or the negative version of these words or other comparable words. Forward-looking statements, including our 2025 guidance and assumptions, involve known and unknown risks and uncertainties, which may cause BNL's actual future results to differ materially from expected results, including, without limitation, risks and uncertainties related to general economic conditions, including but not limited to increases in the rate of inflation and/or interest rates, local real estate conditions, tenant financial health, property investments and acquisitions, and the timing and uncertainty of completing these property investments and acquisitions, and uncertainties regarding future distributions to our stockholders. These and other risks, assumptions, and uncertainties are described in Item 1A "Risk Factors" of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was filed with the SEC on February 20, 2025, and the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, which was filed with the SEC on May 1, 2025, both of which you are encouraged to read, and will be available on the SEC's website at Please note that such Risk Factors will be updated, if necessary, through the filing of Quarterly Reports on Form 10-Q. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. The Company assumes no obligation to, and does not currently intend to, update any forward-looking statements after the date of this press release, whether as a result of new information, future events, changes in assumptions, or otherwise. View source version on Contacts Company Contact:Brent MaedlDirector, Corporate Finance & Investor 585.382.8507 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Herald
26-05-2025
- Sport
- The Herald
SA basketball league needs shake up, says Vincent after MBB's early BAL exit
Sport Not enough league matches in a season for players to improve, compared to other countries Premium By ANATHI WULUSHE IN KIGALI - 26 May 2025 Experienced head coach Sam Vincent has bemoaned the current structure of SA's domestic Basketball National League (BNL), saying it needs to change if the country's teams are to be successful on the continent. Vincent, a 1986 NBA champion with the Boston Celtics, was speaking after his Johannesburg-based Made By Ball (MBB) were eliminated from Africa's biggest tournament, the Basketball Africa League, in Rwanda on Sunday...
Business Wire
07-05-2025
- Business
- Business Wire
Keller Williams Announces Executive Appointments
AUSTIN, Texas--(BUSINESS WIRE)-- Keller Williams Realty, LLC ('KW'), the world's largest real estate franchise by agent count and the U.S. leader in units and sales volume, announced Tim Dieffenbacher as Chief Financial Officer (CFO) and Stacie Herron as Chief Operations Officer (COO), in addition to her Chief Legal Officer (CLO) role. 'Tim brings proven financial leadership and a strong track record of collaboration,' said Czarnecki. 'Stacie has already delivered meaningful impact as our chief legal officer and interim COO, and her official appointment as COO reflects our confidence in Share 'As we continue to grow, we're excited to announce Tim and Stacie into these key leadership roles,' said Chris Czarnecki, CEO and President of Keller Williams. 'Tim and Stacie embody the leadership that will drive our next chapter of growth, as we continue to enable KW-affiliated agents and market center leaders to thrive.' 'Tim brings proven financial leadership and a strong track record of collaboration,' said Czarnecki. 'Stacie has already delivered meaningful impact as our chief legal officer and interim COO, and her official appointment as COO reflects our confidence in her continued leadership.' Tim Dieffenbacher, Chief Financial Officer As the Chief Financial Officer of KW, Tim Dieffenbacher brings extensive experience in corporate finance, accounting, capital markets, operations, and governance, most recently serving as CFO of a publicly traded real estate investment trust in Dallas. Dieffenbacher previously worked alongside Czarnecki at Broadstone Net Lease (NYSE: BNL) and Broadstone Real Estate (BRE), where they partnered to scale the business and build best-in-class operational infrastructure. Dieffenbacher served as Senior Vice President, Chief Accounting Officer, and Treasurer at BNL and BRE. A Certified Public Accountant, Dieffenbacher is passionate about developing high-performing teams, streamlining complex processes, and fostering transparency through disciplined financial management. 'What drew me to Keller Williams was the people, the culture, and the opportunity to work with Chris again,' said Dieffenbacher. 'There's a genuine sense of shared purpose and entrepreneurial spirit here that's hard to find.' 'I've always been motivated by the chance to work with good people, solve challenging problems, and build something meaningful — and that's exactly what I see at Keller Williams,' said Dieffenbacher. Stacie Herron, Chief Operations Officer and Chief Legal Officer In March, Stacie Herron was officially appointed Chief Operating Officer and Chief Legal Officer, after serving as interim COO. She joined KW as CLO in March 2021 and went on to serve as Chief Legal and People Officer, followed by CLO and Chief Administrative Officer. In her role at KW, Herron leads the Growth, Franchise Systems, Legal, Risk Management, Human Resources, and Workplace Experience teams. Herron joined KW after more than 12 years at a publicly traded global real estate services firm, where she served as executive vice president, general counsel, and corporate secretary. Earlier in her career, Herron was an in-house corporate attorney at a NYSE-listed retail company, overseeing corporate, governance, finance, and international legal matters. 'Keller Williams is a remarkable organization, fueled by passionate, purpose-driven people,' said Herron. 'I'm grateful for this opportunity to collaborate with the many talented teams across the business.' 'Together, we will continue to strengthen the systems and strategies that empower our market center leaders and KW-affiliated agents to thrive in this dynamic industry,' said Herron. About Keller Williams Austin, Texas-based Keller Williams Realty, LLC is the world's largest real estate franchise by agent count. It has more than 1,000 market center offices and 163,000 affiliated agents. The franchise is No. 1 in units and sales volume in the U.S. Since 1983, the company has cultivated an agent-centric, technology-driven, and education-based culture that rewards affiliated agents. For more information, visit
Business Insider
25-04-2025
- Business
- Business Insider
Broadstone Net Lease partners with Prologis on $78.2M development
Broadstone Net Lease (BNL) has added one new development with an aggregate estimated total project investment of approximately $78.2M to its pipeline of build-to-suit development commitments. This development will be completed with a new relationship between BNL and the Prologis (PLD) development team. The companies have secured the land and started construction on one additional build-to-suit development, including a new state-of-the-art distribution warehouse facility for FCA US, the American subsidiary of Stellantis (STLA), that is expected to deliver in Q3 of 2026. Stay Ahead of the Market: Discover outperforming stocks and invest smarter with Top Smart Score Stocks. Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener.
