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Broadstone(BNL) - 2025 Q1 - Quarterly Results
BNLBroadstone(BNL)2025-04-30 20:12

Development Projects - Broadstone Net Lease has added a new development project with an estimated total investment of approximately 78.2milliontoitsbuild−to−suitpipeline[1].−ThenewprojectwillbecompletedinpartnershipwithPrologis,Inc.,aleaderinhigh−qualityindustrialpropertydevelopment[2].−Thecompanyhassecuredlandandcommencedconstructiononastate−of−the−artdistributionwarehouseforFCAUS,expectedtodeliverinQ32026[3].−AsofApril24,2025,Broadstone′scumulativeinvestmentsinactivedevelopmentstotalapproximately78.2 million to its build-to-suit pipeline[1]. - The new project will be completed in partnership with Prologis, Inc., a leader in high-quality industrial property development[2]. - The company has secured land and commenced construction on a state-of-the-art distribution warehouse for FCA US, expected to deliver in Q3 2026[3]. - As of April 24, 2025, Broadstone's cumulative investments in active developments total approximately 311.4 million[3]. - The weighted average estimated yield on the total project investments is approximately 7.4%[3]. - The company plans to pursue additional opportunities with Prologis in the near future, marking the beginning of a new relationship[3]. Portfolio and Investment Strategy - Broadstone's diversified portfolio consists of 765 individual net leased commercial properties across 44 U.S. states and four Canadian provinces as of December 31, 2024[6]. - The company emphasizes a commitment to long-term value creation through strong credit analysis and prudent real estate underwriting[6]. - Broadstone's investment strategy focuses on single-tenant commercial real estate properties net leased on a long-term basis[6]. Risks and Forward-Looking Statements - Forward-looking statements indicate potential risks related to economic conditions, inflation, and tenant financial health that may impact future results[7].