Skip to main content

Broadstone Net Lease, Inc. Reports 2020 First-Quarter Results and Provides Update on Impacts of the COVID-19 Pandemic

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

ROCHESTER, N.Y., May 07, 2020 (GLOBE NEWSWIRE) — Broadstone Net Lease, Inc. (“BNL,” ”we,” or ”us”), an internally-managed real estate investment trust (“REIT”), today announced operating results for the quarter ended March 31, 2020, and provided an update on the impacts of the COVID-19 pandemic on its business and results of operations. All per share amounts presented in this press release are on a diluted per share basis unless stated otherwise.
“We are pleased with what we accomplished during the first quarter of 2020 despite the impact of the COVID-19 pandemic,” said Chris Czarnecki, BNL’s Chief Executive Officer. “In addition to growing revenues and AFFO, we successfully completed the internalization of our management functions, including negotiating the related financing and the seamless on-boarding of our employee base. Unfortunately, the outbreak of the COVID-19 pandemic during the quarter somewhat tempered those achievements.” Czarnecki continued, “While the COVID-19 pandemic did not have a material impact on our first-quarter results of operations, as is the case for most, if not all, institutional landlords, a portion of our tenants have reached out to discuss potential rent relief. We continue to leverage our deep relationships with tenants to understand their challenges that have resulted from the COVID-19 pandemic, and work towards solutions that provide us with the best chance for long-term value protection while navigating what we hope is a relatively short-term disruption. The benefits of our highly diversified portfolio have once again shown through in the form of solid rent collections for April and the beginning of May. We are focused on maintaining a diversified portfolio of high-quality properties, further strengthening our liquidity position, monitoring rent collections, and mitigating risk through active asset management. We will continue to provide our investors and stakeholders with transparent updates as the pandemic progresses.”FINANCIAL RESULTS

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.