Broadstone Net Lease Bolsters Board with Industry Veterans, Reflecting Evolving Investment Strategy

Broadstone Net Lease, Inc. (NYSE: BNL) recently announced key changes to its Board of Directors, appointing Richard Imperiale and Joseph Saffire while Shekar Narasimhan and Denise Brooks-Williams decided not to seek re-election. These changes reflect the company's evolving investment strategy and commitment to maintaining a diverse and experienced board.

Richard Imperiale, President and Chief Investment Officer of Uniplan Investment Counsel, Inc., and Joseph Saffire, former CEO of Life Storage, Inc. and current director of Extra Space Storage Inc., bring extensive experience in the REIT industry and related operational matters to BNL's Board. Imperiale's background in managing investments in alternative asset strategies and serving as a director for multiple publicly traded REITs, along with Saffire's experience as the CEO of a publicly traded REIT, will provide invaluable insights to the Board as BNL continues to implement its differentiated investment strategy built upon its core building blocks of growth.

Shekar Narasimhan, who has served on BNL's Board since its inception in 2007, and Denise Brooks-Williams, who joined in May 2021, have been instrumental in BNL's growth. Narasimhan played key roles in the company's 2019 management internalization and 2020 IPO, while Brooks-Williams contributed to the healthcare portfolio simplification strategy. Their departure allows for new perspectives and expertise to be brought onto the Board, further enhancing its value to BNL's shareholders.



The changes in BNL's Board of Directors demonstrate the company's commitment to maintaining a diverse and experienced board that can effectively guide its evolving investment strategy. The appointments of Imperiale and Saffire, along with the departure of Narasimhan and Brooks-Williams, reflect BNL's ongoing efforts to ensure that its Board is comprised of individuals with rich and varying experiences and mindsets, ultimately benefiting BNL's shareholders.

As BNL continues to grow and adapt to the changing investment landscape, its Board of Directors plays a crucial role in providing strategic guidance and oversight. The recent changes to the Board reflect the company's commitment to maintaining a strong and experienced team that can help BNL navigate the challenges and opportunities that lie ahead.