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Report: Broadstone Net Lease hires advisers for 2020 IPO

Broadstone Net Lease Inc. hired Goldman Sachs Group Inc. and JPMorgan Chase & Co. for its potential IPO in early 2020, Bloomberg News reported, citing people with knowledge of the matter.

The Rochester, N.Y.-based real estate company is planning to raise around $600 million in an IPO that is expected to take place in the first or second quarter, sources said.

In November, Broadstone entered into an agreement to internalize its external management functions through a deal for Broadstone Real Estate LLC.

A Broadstone representative did not immediately answer a request for comment sent by Bloomberg, while representatives for Goldman and JPMorgan did not comment on the matter.