Real Estate: Broadstone Net Lease IPO in 2020 Could Be $600 Million

December 13, 2019 | News, Real Estate

Broadstone Net Lease Inc. has enlisted Goldman Sachs and JP Morgan for the 2020 IPO.

Broadstone Net Lease Inc is a publicly reporting, private real estate investment trust. It invests in freestanding, single-tenant, absolute net-leased properties located across the United States. It is a part of Broadstone Real Estate, which was founded in 2006 by Norman Leenhouts and Amy and Robert Tait.

Broadstone is backed by private equity firm Stone Point Capital. It has more than 3350 shareholders and accepts new investments from accredited investors every month. However, the minimum direct investment is $ 500,000.

Further, its portfolio comprised 662 net leased properties in 42 states and Canada with 187 tenants and 171 brands. The market value of its total assets is approximately $ 4.4 billion, according to its website. It generally targets acquisitions between $ 5 million and $ 300+ million.

Broadstone may have an IPO in 2020

According to Crain’s New York Business, Broadstone Net Lease is weighing an initial public offering in 2020, probably in the first or second quarters. According to anonymous but informed persons, the firm has tapped Goldman Sachs Group Inc and JPMorgan Chase & Co for the IPO.

Further, the REIT’s IPO could be as much as $ 600 million, one of the largest real estate floats in 2020.

In September, Broadstone Net Lease announced the $ 735.7 million acquisition of a portfolio of 23 industrial and office/flex assets. Fully leased, these include 6.9 million rentable square feet of operational space. The portfolio comprises a mix of warehouse, distribution, manufacturing, cold storage, and office/flex assets.

The transaction resulted in a short-term increase in leverage. However, the company assures it will reduce it through an ongoing private offering of shares and asset dispositions.

[Related Story: PwC: Takeaways from the Real Estate 2020 Outlook  ]

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Alternative Investments/ESG: Six New Responsible Funds Flag Off Morgan Stanley’s ETF Platform

Morgan Stanley Investment Management (MSIM) has launched its ETF platform with six Calvert ETFs listed on NYSE Arca. The ETFs feature Calvert’s responsible investing approach and offer access to four…
Artificial Intelligence: MusicLM, A New Generative AI Tool From Google, Creates Music From Text
February 2, 2023     Artificial Intelligence, News

Google (NASDAQ: GOOGL) recently published a research paper on its new AI tool, MusicLM, designed to create music. The tool is based on machine learning and is trained on vast…
Artificial Intelligence: Snap Mulling AR Glasses Powered By Generative AI
February 2, 2023     Artificial Intelligence, News

Snap (NYSE: SNAP), the parent company of Snapchat, has hinted at future AR glasses powered by generative AI technology. CEO Evan Spiegel stated that AI will be critical to the…
Digital Assets: Binance And Mastercard Launch Prepaid Crypto Card In Brazil
February 1, 2023     Digital Assets, News

Binance and Mastercard (NYSE: MA) have jointly launched the Binance Card in Brazil, allowing Binance users in the country to make purchases and pay bills with cryptocurrencies like bitcoin and…