Broadstone borrows $75 million under revolver at quarter’s end

By Wendy Van Sickle

Columbus, Ohio, May 7 – Broadstone Net Lease, LLC borrowed an additional $75 million from its senior unsecured revolving credit facility at the end of its first quarter to strengthen its liquidity position and preserve its financial flexibility, according to a news release.

Borrowings bear interest at Libor plus a margin based on the company’s credit rating. Based on its current investment-grade credit rating from Moody’s Investors Service of Baa3, the applicable margin is 120 basis points.

Broadstone is a private real estate investment trust based in Rochester, N.Y., that invests in freestanding, single-tenant, absolute net-leased properties located throughout the United States.

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