Broadstone Net Lease Inc SEC Filings

Broadstone Net Lease, Inc. is offering debt securities with principal tranches that aggregate to $350,000,000, allocated across multiple note amounts (for example, $66,500,000; $57,750,000; $28,000,000; $17,500,000; $7,000,000, among others). Certain borrowings reference one-month adjusted SOFR plus 0.95% and daily simple adjusted SOFR plus 1.25%; outstanding borrowings under the unsecured revolving credit portion of its credit facility maturing in 2029 currently bear interest at reference rate plus 0.85%. The prospectus supplement discusses settlement through DTC requiring immediately available funds and notes trustee procedures for holders.

The filing discloses material tax and structural items: Broadstone expects built-in gain exposure of approximately $56.4 million related to prior Blocker Corp mergers that could trigger corporate-level tax if certain assets (notably the OP or OP interests) are sold in a taxable transaction within five years. The document also details REIT qualification rules, potential cross-default provisions in debt agreements, procedures for furnishing Exchange Act reports or confidential datasite access, and withholding/tax rules for non-U.S. holders.

Broadstone Net Lease, Inc. prospectus supplement discusses terms for offered debt securities and highlights credit, tax and REIT compliance matters. The company references its Exchange Act filings and makes clear that website content is not part of the prospectus. Interest on certain borrowing facilities is tied to adjusted SOFR with spreads noted (example spreads: +0.95% and +1.25%; unsecured revolver borrowings currently at reference rate +0.85%). The document discloses cross-default and acceleration risks under debt agreements and describes trustee notice and cure periods. Tax disclosures emphasize REIT qualification rules, including gross income and asset tests, limitations on ownership transfers to preserve REIT status, and possible corporate tax on "built-in gain" estimated at approximately $56.4 million if certain assets are sold within five years. It also covers withholding rules for U.S. and non-U.S. holders and settlement mechanics via DTC.

Principal Real Estate Investors LLC reports beneficial ownership of 376,106 shares of Broadstone Net Lease, Inc. Class A common stock, representing 0.2% of the class. The filing shows shared voting power and shared dispositive power for the full amount and records no sole voting or dispositive power.

The statement affirms the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control. This filing is an amendment to prior reports and documents a sub-5% institutional stake in BNL.