Broadstone Net Lease, Inc. (the ?Corporation?) is a Maryland corporation formed on October 18, 2007, that elected to be taxed as a real estate investment trust (?REIT?) commencing with the taxable year ended December 31, 2008. Broadstone Net Lease, LLC (the Corporation's operating company, or the ?OP?), is the entity through which the Corporation conducts its business and owns (either directly or through subsidiaries) all of the Corporation's properties. The Corporation is the sole managing member of the OP. The membership units not owned by the Corporation are referred to as OP Units or non-controlling interests. As the Corporation conducts substantially all of its operations through the OP, it is structured as what is referred to as an umbrella partnership real estate investment trust (?UPREIT?). The Corporation's common stock is listed on the New York Stock Exchange under the symbol ?BNL.?