John Moragne, CEO of Broadstone Net Lease, Inc. (NYSE: BNL), sat down for a video interview during Nareit’s REITweek: 2025 Investor Conference in New York City June 2-5.
Moragne discussed key goals the REIT set for 2025, and progress to date. Those goals include a midpoint of 3% for AFFO per share, noting that “we’re on track for that. We’re hoping we can do better.”
The second goal centers around its build-to-suit program, notably $500 million in new commitments. Today, the company is sitting at $310 million in commitments, Moragne said, with the goal of adding an additional $400 million in commitments during the course of the year.
He described build-to-suit as “a fantastic place to allocate capital. We’re essentially building things that we couldn’t afford if we were trying to buy them straight off the market.”
Looking ahead, he said the REIT is aiming to deliver consistent single-digit AFFO per share growth year after year.