Broadstone Net Lease Acquires 24 Bloomin’ Brands Properties

by Katie Lee

Rochester, N.Y. — Broadstone Net Lease (BNL), a private real estate investment trust (REIT) managed by Broadstone Real Estate, LLC (Broadstone), continues to grow its national portfolio of triple-net leased properties. BNL has acquired, via sale leaseback, a 24-property Bloomin’ Brands portfolio, which includes 22 Outback Steakhouses and two Carrabba’s Italian Grill properties in 13 states.

Established in 1988, Bloomin’ Brands, operates approximately 1,500 casual dining restaurants in 48 U.S. states, Puerto Rico, Guam, and 22 countries under the Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, Fleming’s Prime Steakhouse & Wine Bar, and Abbraccio brands.

“BNL’s acquisition of this Bloomin’ Brands portfolio further diversifies our REIT’s retail holdings. Bloomin’ Brands is now BNL’s third largest tenant,” says Amy Tait, chairman and CEO of Broadstone. “BNL has now surpassed over $2 billion in total assets, and plans to announce additional acquisitions throughout the fourth quarter.”

SOURCE: Broadstone Net Lease

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