Broadstone Credit Facility

Broadstone Net Lease Inc. of Rochester closed Friday on a $150 million credit facility which it says it plans to use to pay down its revolving line of credit and to fund future property acquisitions.
The facility is comprised of a fully funded $150 million term note, with an initial term of three years and options to extend it for two additional two-year terms.
The facility will help extend the real estate investment trust’s debt maturities, with adjustable borrowing rates. The pricing for the facility is 25 to 35 basis points lower than the pricing for an unsecured term loan the company completed less than 12 months ago.