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Broadstone Net Lease, Inc. (“BNL”) is an externally managed real estate investment trust (“REIT”) formed to acquire and hold single-tenant, commercial real estate properties throughout the United States that are leased to the properties’ operators under long-term net leases. Our diversified portfolio of real estate includes retail properties, such as quick service and casual dining restaurants, healthcare facilities, industrial manufacturing facilities, warehouse and distribution centers, and corporate offices, among others. As of March 31, 2019, BNL owns a diversified portfolio of 644 properties in 42 states. The REIT targets individual or portfolio acquisitions within the $5 million to $300 million range.
We seek to make investments in additional properties and manage our portfolio to preserve, protect, and return capital to investors; realize increased cash available for distributions and long-term capital appreciation from growth in the rental income and value of our properties; and maximize the level of sustainable cash distributions to our investors.
There are currently more than 3,200 stockholders in BNL. Our shares are currently being sold through our monthly ongoing private offering, which is exempt from registration under the Securities Act of 1933 pursuant to Rule 506(c) of Regulation D. BNL remains open for new investment by accredited investors on a monthly basis, with a minimum investment of $500,000. Shares are offered directly by BNL via private placement.