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Rochester, N.Y. — Rochester-based Broadstone Net Lease, a private REIT managed by Broadstone Real Estate, has acquired seven Red Lobster properties located in Arkansas, Indiana, Kentucky, Minnesota, New Mexico and Tennessee.
The properties were acquired through a sale-leaseback transaction for a total purchase price of $28.5 million. The REIT now owns 25 Red Lobster properties across 15 states.