Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Mar. 11, 2022 | Jun. 30, 2021 | |
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2021 | ||
Current Fiscal Year End Date | --12-31 | ||
Document Transition Report | false | ||
Entity File Number | 000-51948 | ||
Entity Registrant Name | Jones Lang LaSalle Income Property Trust, Inc. | ||
Entity Incorporation, State or Country Code | MD | ||
Entity Tax Identification Number | 20-1432284 | ||
Entity Address, Address Line One | 333 West Wacker Drive | ||
Entity Address, City or Town | Chicago | ||
Entity Address, State or Province | IL | ||
Entity Address, Postal Zip Code | 60606 | ||
City Area Code | 312 | ||
Local Phone Number | 897-4000 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 2,228,709,000 | ||
Documents Incorporated by Reference | DOCUMENTS INCORPORATED BY REFERENCESpecified portions of the registrant’s proxy statement, which will be filed with the Commission pursuant to Regulation 14A in connection with the registrant’s 2022 Annual Meeting of Stockholders, are incorporated by reference into Part III of this annual report | ||
Amendment Flag | false | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2021 | ||
Entity Central Index Key | 0001314152 | ||
Class A [Member] | |||
Entity Public Float | 1,119,342,000 | ||
Entity Common Stock, Shares Outstanding | 103,851,302 | ||
Common Class M [Member] | |||
Entity Public Float | 423,952,000 | ||
Entity Common Stock, Shares Outstanding | 37,025,103 | ||
Common Class A-I [Member] | |||
Entity Public Float | 116,015,000 | ||
Entity Common Stock, Shares Outstanding | 9,330,859 | ||
Common Class M-I [Member] | |||
Entity Public Float | 478,632,000 | ||
Entity Common Stock, Shares Outstanding | 59,287,251 | ||
Common Class D [Member] | |||
Entity Public Float | $ 90,768,000 | ||
Entity Common Stock, Shares Outstanding | 6,041,611 |
Audit Information
Audit Information | 12 Months Ended |
Dec. 31, 2021 | |
Audit Information [Abstract] | |
Auditor Name | KPMG LLP |
Auditor Location | Chicago, IL |
Auditor Firm ID | 185 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Investments in real estate: | ||
Land | $ 598,564 | $ 428,313 |
Buildings and equipment | 3,010,359 | 1,892,023 |
Less accumulated depreciation | (259,362) | (219,833) |
Net property and equipment | 3,349,561 | 2,100,503 |
Equity Method Investments | 217,044 | 187,890 |
Real Estate Investments, Unconsolidated Real Estate and Other Joint Ventures | 352,905 | 79,192 |
Investments in real estate and other assets held for sale | 39,326 | 34,148 |
Net investments in real estate | 3,958,836 | 2,401,733 |
Marketable Securities | 43,206 | 0 |
Cash and cash equivalents | 70,273 | 84,805 |
Restricted cash | 51,203 | 16,629 |
Tenant accounts receivable, net | 9,066 | 8,680 |
Deferred expenses, net | 14,511 | 10,982 |
Acquired intangible assets, net | 216,227 | 105,206 |
Deferred rent receivable, net | 25,634 | 21,274 |
Prepaid expenses and other assets | 13,290 | 9,290 |
TOTAL ASSETS | 4,402,246 | 2,658,599 |
LIABILITIES AND EQUITY | ||
Mortgage notes and other debt payable, net | 1,817,664 | 868,102 |
Disposal Group, Including Discontinued Operation, Liabilities | 271 | 18,242 |
Accounts payable and other accrued expenses | 70,551 | 36,137 |
Financing obligation | 448,319 | 155,882 |
Accrued Offering Costs | 137,776 | 106,908 |
Accrued interest | 3,321 | 2,153 |
Accrued real estate taxes | 9,497 | 6,640 |
Advisor fees payable | 39,709 | 2,122 |
Acquired intangible liabilities, net | 31,022 | 14,990 |
TOTAL LIABILITIES | 2,558,130 | 1,211,176 |
Commitments and contingencies | $ 0 | 0 |
Common Stock, Shares Authorized | 200,000,000 | |
Common Stock, Par or Stated Value Per Share | $ 0.01 | |
Equity: | ||
Additional Paid in Capital, Common Stock | $ 2,284,839 | 1,922,136 |
Distributions to stockholders | (573,963) | (481,760) |
Accumulated deficit | 34,398 | (14,723) |
Total Jones Lang LaSalle Income Property Trust, Inc. stockholders’ equity | 1,747,335 | 1,427,384 |
Noncontrolling interests | 96,781 | 20,039 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 1,844,116 | 1,447,423 |
Liabilities and Equity | 4,402,246 | 2,658,599 |
Class A Shares [Member] | ||
Equity: | ||
Common Stock, Value, Issued | 1,000 | 897 |
Class M Shares [Member] | ||
Equity: | ||
Common Stock, Value, Issued | 365 | 356 |
Class A-I Shares [Member] | ||
Equity: | ||
Common Stock, Value, Issued | 94 | 96 |
Class M-I Shares [Member] | ||
Equity: | ||
Common Stock, Value, Issued | 527 | 332 |
Class D Shares [Member] | ||
Equity: | ||
Common Stock, Value, Issued | $ 75 | $ 50 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Land | $ 598,564 | $ 428,313 |
Buildings and equipment | 3,010,359 | 1,892,023 |
Less accumulated depreciation | (259,362) | (219,833) |
Cash and cash equivalents | 70,273 | 84,805 |
Restricted Cash and Cash Equivalents | 51,203 | 16,629 |
Tenant accounts receivable, net | 9,066 | 8,680 |
Deferred expenses, net | 14,511 | 10,982 |
Acquired intangible assets, net | 216,227 | 105,206 |
Deferred Rent Receivables, Net | 25,634 | 21,274 |
Prepaid Expense and Other Assets | 13,290 | 9,290 |
Mortgage notes and other debt payable, net | 1,817,664 | 868,102 |
Accounts payable and other accrued expenses | 70,551 | 36,137 |
Accrued interest | 3,321 | 2,153 |
Accrued real estate taxes | $ 9,497 | 6,640 |
Common stock, par value | $ 0.01 | |
Common Stock, shares authorized | 200,000,000 | |
Accumulated stock issuance costs | $ 264,066 | $ 216,405 |
Class A Shares [Member] | ||
Common stock, shares issued | 100,038,362 | 89,671,096 |
Common stock, shares outstanding | 100,038,362 | 89,671,096 |
Class M Shares [Member] | ||
Common stock, shares issued | 36,458,191 | 35,612,156 |
Common stock, shares outstanding | 36,458,191 | 35,612,156 |
Class A-I Shares [Member] | ||
Common stock, shares issued | 9,356,309 | 9,616,299 |
Common stock, shares outstanding | 9,356,309 | 9,616,299 |
Class M-I Shares [Member] | ||
Common stock, shares issued | 52,676,693 | 33,247,001 |
Common stock, shares outstanding | 52,676,693 | 33,247,001 |
Class D Shares [Member] | ||
Common stock, shares issued | 7,513,281 | 4,957,915 |
Common stock, shares outstanding | 7,513,281 | 4,957,915 |
Variable Interest Entity, Primary Beneficiary [Member] | ||
Land | $ 59,006 | $ 22,605 |
Buildings and equipment | 206,016 | 142,946 |
Less accumulated depreciation | (26,955) | (23,083) |
Cash and cash equivalents | 6,740 | 3,159 |
Restricted Cash and Cash Equivalents | 859 | 800 |
Tenant accounts receivable, net | 1,850 | 2,679 |
Deferred expenses, net | 533 | 516 |
Acquired intangible assets, net | 12,500 | 2,638 |
Deferred Rent Receivables, Net | 1,135 | 1,087 |
Prepaid Expense and Other Assets | 284 | 164 |
Mortgage notes and other debt payable, net | 147,076 | 82,033 |
Accounts payable and other accrued expenses | 2,477 | 1,335 |
Accrued interest | 368 | 296 |
Accrued real estate taxes | $ 541 | $ 738 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenues: | |||
Rental revenue | $ 227,940 | $ 186,641 | $ 167,170 |
Other Income | 11,398 | 6,980 | 7,109 |
Total revenues | 239,338 | 193,621 | 174,279 |
Operating expenses: | |||
Real estate taxes | 32,837 | 29,665 | 25,012 |
Property operating | 43,995 | 37,999 | 31,783 |
General and administrative | 1,596 | 4,318 | 1,659 |
Noninterest Expense Investment Advisory Fees | 65,667 | 25,274 | 23,026 |
Company level expenses | 4,841 | 2,936 | 3,201 |
Impairment of Real Estate | 1,822 | 0 | 0 |
Depreciation and amortization | (94,051) | (75,603) | (67,348) |
Total operating expenses | 244,809 | 175,795 | 152,029 |
Other (expenses) and income: | |||
Interest expense | (48,230) | (40,668) | (36,185) |
Equity in income of unconsolidated affiliates | 67,333 | (19,451) | 7,066 |
Investment Income, Dividend | 418 | 0 | 0 |
Equity Securities, FV-NI, Realized Gain (Loss) | 247 | 0 | 0 |
Equity Securities, FV-NI, Unrealized Gain (Loss) | 2,933 | 0 | 0 |
Gains (Losses) on Extinguishment of Debt | 33,422 | (1,772) | 106,871 |
Total other (expenses) and income | 56,123 | (61,891) | 77,752 |
Net income (loss) | 50,652 | (44,065) | 100,002 |
Plus: Net (income) loss attributable to the noncontrolling interests | (1,531) | 59 | (69) |
Net income (loss) attributable to Jones Lang LaSalle Income Property Trust, Inc. | $ 49,121 | $ (44,006) | $ 99,933 |
Weighted average common stock outstanding-basic and diluted | 186,610,215 | 170,613,298 | 151,179,459 |
Class A Shares [Member] | |||
Other (expenses) and income: | |||
Earnings Per Share, Basic and Diluted | $ 0.28 | $ (0.26) | $ 0.66 |
Class M Shares [Member] | |||
Other (expenses) and income: | |||
Earnings Per Share, Basic and Diluted | 0.27 | (0.26) | 0.66 |
Class A-I Shares [Member] | |||
Other (expenses) and income: | |||
Earnings Per Share, Basic and Diluted | 0.28 | (0.26) | 0.66 |
Class M-I Shares [Member] | |||
Other (expenses) and income: | |||
Earnings Per Share, Basic and Diluted | 0.24 | (0.26) | 0.66 |
Class D Shares [Member] | |||
Other (expenses) and income: | |||
Earnings Per Share, Basic and Diluted | $ 0.26 | $ (0.26) | $ 0.66 |
Consolidated Statements Equity
Consolidated Statements Equity Statement - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Distributions to Stockholders [Member] | Accumulated Deficit [Member] | Noncontrolling Interest [Member] | The Edge at Lafayette [Member] |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Shares, Issued | 138,148,451 | ||||||
Beginning balance at Dec. 31, 2018 | $ 1,187,292 | $ 1,382 | $ 1,568,474 | $ (318,780) | $ (70,650) | $ 6,866 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Issuance of common stock (in shares) | 37,588,047 | ||||||
Issuance of common stock | $ 460,833 | 377 | 460,456 | 0 | 0 | 0 | |
Stock Repurchased During Period, Shares | 10,000,352 | ||||||
Repurchase of shares | $ (121,822) | $ (101) | (121,721) | ||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | (42,056) | (42,056) | |||||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 11,298 | ||||||
Stock based compensation | 138 | 138 | |||||
Net income (loss) | 100,002 | 99,933 | 69 | ||||
Proceeds from Noncontrolling Interests | 1,645 | ||||||
Cash distributed to noncontrolling interests | (7,116) | (2,559) | $ (4,557) | ||||
Dividends, Common Stock | (80,159) | (80,159) | |||||
Ending balance at Dec. 31, 2019 | $ 1,498,757 | $ 1,658 | 1,860,734 | (398,939) | 29,283 | 6,021 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Shares, Issued | 165,745,572 | ||||||
Issuance of common stock (in shares) | 28,718,218 | ||||||
Issuance of common stock | $ 345,912 | $ 287 | 345,625 | ||||
Stock Repurchased During Period, Shares | 21,372,888 | ||||||
Repurchase of shares | $ (255,355) | $ 214 | 255,141 | ||||
Conversion of Stock, Shares Issued | (2,435) | ||||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ (29,274) | 29,274 | |||||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 16,000 | ||||||
Stock based compensation | $ 192 | 192 | |||||
Net income (loss) | (44,065) | (44,006) | (59) | ||||
Stock Issued During Period, Value, Other | 14,252 | 14,252 | |||||
Proceeds from Noncontrolling Interests | 3 | 3 | |||||
Cash distributed to noncontrolling interests | (178) | 178 | 0 | ||||
Dividends, Common Stock | (82,821) | 82,821 | |||||
Ending balance at Dec. 31, 2020 | $ 1,447,423 | $ 1,731 | 1,922,136 | (481,760) | (14,723) | 20,039 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Shares, Issued | 173,104,467 | ||||||
Issuance of common stock (in shares) | 44,071,596 | ||||||
Issuance of common stock | $ 545,702 | $ 441 | 545,261 | ||||
Stock Repurchased During Period, Shares | 11,151,942 | ||||||
Repurchase of shares | $ (135,246) | $ (111) | (135,135) | ||||
Conversion of Stock, Shares Issued | (1,285) | ||||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ (47,661) | 47,661 | |||||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 20,000 | ||||||
Stock based compensation | $ 238 | 238 | |||||
Net income (loss) | 49,121 | 1,531 | |||||
Other comprehensive income (loss) | 50,652 | ||||||
Stock Issued During Period, Value, Other | 74,673 | ||||||
Proceeds from Noncontrolling Interests | 4,350 | ||||||
Cash distributed to noncontrolling interests | (3,812) | 3,812 | $ 0 | ||||
Dividends, Common Stock | (92,203) | ||||||
Ending balance at Dec. 31, 2021 | $ 1,844,116 | $ 2,061 | $ 2,284,839 | $ (573,963) | $ 34,398 | $ 96,781 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Shares, Issued | 206,042,836 |
Consolidated Statements Equit_2
Consolidated Statements Equity Consolidated Statements of Equity (Parenthetical) - $ / shares | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Consolidated Statements of Stockholders' Equity [Abstract] | |||||||||||||||
Common Stock, Dividends, Per Share, Declared | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.17500 | $ 0.13500 | $ 0.13500 | $ 0.54000 | $ 0.54000 | $ 0.58000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net Income (Loss) | $ 50,652 | $ (44,065) | $ 100,002 |
Adjustments to reconcile income (loss) to net cash provided by operating activities: | |||
Depreciation and amortization (including discontinued operations) | 93,045 | 75,073 | 66,860 |
Gain (Loss) on Disposition of Property Plant Equipment | (33,422) | 1,772 | (106,871) |
Equity Securities, FV-NI, Realized Gain (Loss) | (247) | 0 | 0 |
Equity Securities, FV-NI, Unrealized Gain (Loss) | (2,933) | 0 | 0 |
Straight line rent | (3,975) | (1,324) | (3,444) |
Impairment of Real Estate | 1,822 | 0 | 0 |
Equity in income of unconsolidated affiliates | 67,333 | (19,451) | 7,066 |
Proceeds from Equity Method Investment, Distribution | 11,860 | 4,043 | 10,637 |
Net changes in assets and liabilities and other | 37,880 | 7,404 | 2,584 |
Net cash provided by operating activities | 87,349 | 62,354 | 62,702 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Payments to Acquire Commercial Real Estate | 1,238,381 | 187,825 | 373,355 |
Proceeds from sales of real estate investments | 66,992 | 5,372 | 216,010 |
Payments for Capital Improvements | 28,764 | 13,201 | 19,718 |
Investments in unconsolidated real estate affiliate | (247,394) | (8,802) | (3,779) |
Deposits for investments under contracts | (1,000) | 0 | (2,250) |
Payments to Acquire Marketable Securities | 45,373 | 0 | 0 |
Proceeds from Sale and Maturity of Marketable Securities | 5,347 | 0 | 0 |
Proceeds from Equity Method Investment, Distribution, Return of Capital | 0 | 0 | 3,248 |
Net cash (used in) provided by investing activities | (1,488,573) | (204,456) | (179,844) |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Issuance of common stock | (809,571) | (394,082) | (437,592) |
Offering Costs | (16,792) | (17,592) | (19,299) |
Repurchase of shares | (135,246) | (255,354) | (121,822) |
Distributions to stockholders | (33,070) | (35,719) | (25,802) |
Distributions paid to noncontrolling interests | (3,812) | (178) | (7,116) |
Contributions received from noncontrolling interests | 4,350 | 3 | 1,645 |
Payments for (Proceeds from) Deposit on Loan | (937) | 0 | (379) |
Proceeds from Lines of Credit | 675,000 | 200,000 | 57,000 |
Repayments of Lines of Credit | (140,000) | (200,000) | (147,000) |
Proceeds from mortgage notes | 356,390 | 135,130 | 101,000 |
Principal payments on mortgage notes and other debt payable | (86,402) | (89,349) | (88,515) |
Payment for Debt Extinguishment or Debt Prepayment Cost | 0 | 1,457 | 207 |
Debt issuance costs | (7,780) | (52) | (1,202) |
Net cash provided by (used in) financing activities | 1,421,272 | 129,514 | 185,895 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect | 20,048 | (12,588) | 68,753 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Beginning Balance | 101,434 | 114,022 | 45,269 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Ending Balance | 121,482 | 101,434 | 114,022 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract] | |||
Cash and cash equivalents at the beginning of the year | 84,805 | 77,056 | |
Restricted Cash and Cash Equivalents | 51,203 | 16,629 | 36,966 |
Restricted cash in assets held for sale | 6 | 0 | 0 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 121,482 | 101,434 | 114,022 |
Supplemental discolsure of cash flow information: | |||
Interest Paid, Excluding Capitalized Interest, Operating Activities | 37,184 | 35,966 | 29,343 |
Non-cash activities: | |||
Write-offs of receivables | 198 | 74 | 26 |
Write-Offs of Retired Assets | 10,257 | 12,599 | 16,515 |
Change in liability for capital expenditures | (2,109) | (412) | (146) |
Liabilities Transferred at Sale | 230 | 63 | 2,100 |
Liabilities Assumed | 2,945 | 520 | 285 |
Stock issued but not yet received | (731) | (176) | 647 |
Accrued offering costs | 30,869 | 11,682 | 22,757 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | (125,716) | 0 | (41,546) |
OP Units | $ (74,673) | $ (29,086) | $ 0 |
Organization
Organization | 12 Months Ended |
Dec. 31, 2021 | |
Organization [Abstract] | |
Nature of Operations [Text Block] | NOTE 1—ORGANIZATION General Except where the context suggests otherwise, the terms “we,” “us,” “our” and the “Company” refer to Jones Lang LaSalle Income Property Trust, Inc. The terms “Advisor” and “LaSalle” refer to LaSalle Investment Management, Inc. Jones Lang LaSalle Income Property Trust, Inc. is an externally advised, daily valued perpetual-life real estate investment trust ("REIT") that owns and manages a diversified portfolio of industrial, office, residential, retail and other properties located in the United States. Over time our real estate portfolio may be further diversified on a global basis through the acquisition of properties outside of the United States and will be complemented by investments in real estate-related debt and equity securities. We were incorporated on May 28, 2004 under the laws of the State of Maryland. We believe that we have operated in such a manner to qualify to be taxed as a REIT for federal income tax purposes commencing with the taxable year ended December 31, 2004, when we first elected REIT status. As of December 31, 2021 , we owned interests in a total of 120 properties and over 4,000 single-family rental houses located in 27 states. We own substantially all of our assets through JLLIPT Holdings, LP, a Delaware limited partnership (our “operating partnership”), of which we are a limited partner and JLLIPT Holdings GP, LLC, our wholly owned subsidiary, is the sole general partner. The use of our operating partnership to hold substantially all of our assets is referred to as an Umbrella Partnership Real Estate Investment Trust ("UPREIT"). By using an UPREIT structure, a property owner who desires to defer taxable gain on the disposition of his or her property may transfer the property to our operating partnership in exchange for limited partnership interests in the operating partnership ("OP Units") and defer taxation of gain until the limited partnership interests are disposed of in a taxable transaction. As of December 31, 2021, we raised aggregate proceeds from the issuance of OP Units in our operating partnership of $88,925, and owned directly or indirectly 96.6% of the OP Units of our operating partnership. The remaining 3.4% of the OP Units are held by third parties. From our inception to December 31, 2021, we have received approximately $3,565,671 in gross offering proceeds from various public and private offerings of shares of our common stock as well as issuance of OP Units. On October 1, 2012, we commenced our initial public offering of common stock and since that time we have offered shares of our common stock in various public offerings registered with the Securities and Exchange Commission (the "SEC"). On December 21, 2021, our most recent public offering (the "Current Public Offering") of up to $3,000,000 in any combination of shares of our Class A, Class M, Class A-I and Class M-I common stock was declared effective by the SEC. As of December 31, 2021 , we have raised aggregate gross proceeds from the sale of shares of our common stock in our Current Public Offering of $22,553. We intend to continue to offer shares of our common stock on a continuous basis for an indefinite period of time by filing a new registration statement before the end of each offering. In addition to our public offerings, on March 3, 2015, we commenced a private offering (the "Private Offering") of up to $350,000 in shares of our Class D common stock with an indefinite duration. As of December 31, 2021 , we have raised aggregate gross proceeds of $98,188 in the Private Offering. In addition, on October 16, 2019, we, through our operating partnership, initiated a program (the “DST Program”) to raise up to $500,000, which our board of directors increased to $1,000,000 on August 10, 2021, in private placements exempt from registration under the Securities Act of 1933, as amended, through the sale of beneficial interests to accredited investors in specific Delaware statutory trusts ("DSTs") holding real properties ("DST Properties"), which may be sourced from our real properties or from third parties. As of December 31, 2021 , we have raised $473,723 of aggregate gross proceeds from our DST program. As of December 31, 2021 , 100,038,362 shares of Class A common stock, 36,458,191 shares of Class M common stock, 9,356,309 shares of Class A-I common stock, 52,676,693 shares of Class M-I common stock, and 7,513,281 shares of Class D common stock were outstanding and held by a total of 20,039 stockholders. LaSalle acts as our advisor pursuant to the advisory agreement among us, our operating partnership and LaSalle (the "Advisory Agreement"). The term of our Advisory Agreement expires June 5, 2022, subject to an unlimited number of successive one-year renewals. Our Advisor, a registered investment advisor with the SEC, has broad discretion with respect to our investment decisions and is responsible for selecting our investments and for managing our investment portfolio pursuant to the terms of the Advisory Agreement. Our executive officers are employees of, and compensated by, our Advisor. We have no employees. LaSalle is a wholly-owned, but operationally independent subsidiary of Jones Lang LaSalle Incorporated ("JLL" or our "Sponsor"), a New York Stock Exchange-listed leading professional services firm that specializes in real estate and investment management. As of December 31, 2021 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and the instructions to Form 10-K and include the accounts of our wholly-owned subsidiaries, consolidated variable interest entities ("VIE") and the unconsolidated investments in real estate affiliates. We consider the authoritative guidance of accounting for investments in common stock, investments in real estate ventures, investors accounting for an investee when the investor has the majority of the voting interest but the minority partners have certain approval or veto rights, determining whether a general partner or general partners as a group controls a limited partnership or similar entity when the limited partners have certain rights, and the consolidation of VIEs in which we own less than a 100% interest. All significant intercompany balances and transactions have been eliminated in consolidation. Parenthetical disclosures are shown on our Consolidated Balance Sheets regarding the amounts of VIE assets and liabilities that are consolidated. As of December 31, 2021, our VIEs include The District at Howell Mill, Grand Lakes Marketplace, Presley Uptown, 237 Via Vera Cruz, 4211 Starboard Drive, 13500 Danielson Drive, 2840 Loker Ave, and 15890 Bernardo Center Drive due to the joint venture structures and our partners having limited participation rights and no kick-out rights. The creditors of our VIEs do not have general recourse to us. Noncontrolling interests represent the minority members’ proportionate share of the equity in our VIEs. At acquisition, the assets, liabilities and noncontrolling interests were measured and recorded at the estimated fair value. Noncontrolling interests will increase for the minority members’ share of net income of these entities and contributions and decrease for the minority members’ share of net loss and distributions. As of December 31, 2021, noncontrolling interests represented the minority members’ proportionate share of the equity of the entities listed above as VIEs. Certain of our joint venture agreements include provisions whereby, at certain specified times, each party has the right to initiate a purchase or sale of its interest in the joint ventures at an agreed upon fair value. Under these provisions, we are not obligated to purchase the interest of its outside joint venture partners. Investments in Real Estate Real estate assets are stated at cost. Our real estate assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. A real estate asset is considered to be impaired when the estimated future undiscounted operating cash flow over the expected hold period is less than its carrying value in accordance with the authoritative guidance on accounting for the impairment or disposal of long-lived assets. To the extent impairment has occurred, the excess of the carrying value of the asset over its estimated fair value will be charged to operations. The valuation adjustments were calculated based on market conditions and assumptions made by management at the time the valuation adjustments were recorded, which may differ materially from actual results if market conditions or the underlying assumptions change in the future. If our strategy changes or if market conditions otherwise dictate a change in the holding period and an exit date, an impairment loss could be recognized and such loss could be material. When we have committed to a plan to sell a property that is available for immediate sale, have the necessary approvals and marketing in place, and believe that the sale of the property is probable the assets selected for disposal will be classified as held-for-sale and carried at the lower of their carrying values ( i.e ., cost less accumulated depreciation and any impairment loss recognized, where applicable) or estimated fair values less costs to sell. Carrying values are reassessed at each balance sheet date. Due to market fluctuation, actual proceeds realized on the ultimate sale of these properties may differ from estimates and such differences could be material. Depreciation and amortization cease once a property is classified as held-for-sale. We recorded $1,822 in impairment charges related to the The Edge at Lafayette for the year ended December 31, 2021. We recorded no impairment charges in 2020 or 2019. Depreciation expense is computed using the straight-line method based upon the following estimated useful lives: Asset Category Estimated Useful Life Buildings and improvements 40-50 Years Tenant improvements Lesser of life of improvement or life of related lease Equipment and fixtures 2-10 Years Maintenance and repairs are charged to expense when incurred. Expenditures for significant betterments and improvements are capitalized. Investments in Unconsolidated Real Estate Affiliates and Real Estate Fund Investment We account for our investments in unconsolidated real estate affiliates using either the equity method or the fair value option. Under the equity method the cost of the investment is adjusted for our share of equity in net income or loss and reduced by distributions received and increased by contributions provided. Under the fair value option, the cost basis of the investment is increased for contributions made to the investment and adjusted for our share of changes in the fair value of the investment. Distributions received from investments in unconsolidated real estate affiliates under the fair value option are recorded as income from the unconsolidated affiliates. Distributions that are identified as returns of capital are recorded as a reduction to the cost basis of the investment, whereas distributions identified as capital gains or losses are recorded as realized gains or losses. We evaluate the carrying values of our investments in unconsolidated real estate affiliates accounted for under the equity method, excluding our investment under the fair value option, in accordance with the authoritative guidance on the equity method of accounting for investments in common stock. We analyze our investments in unconsolidated real estate affiliates when circumstances change and at every reporting period and determine if an “other-than-temporary” impairment exists and, if so, we assess our ability to recover our carrying cost of the investment. During 2020, we concluded that an other than temporary decline in value exists in our investment in the Chicago Parking Garage and recognized an impairment charge of $1,506. Investment in Marketable Securities In accordance with our investment guidelines, investments in marketable securities consist of stock of publicly traded REITs. The net unrealized change in the fair value of our investments in marketable securities is recorded in earnings as part of net income in accordance with Accounting Standard Update ("ASU") 2016-1, Financial Statements - Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities. Rental Revenue Recognition Minimum rent revenues are recognized on a straight-line basis over the terms of the related leases. Straight-line rent revenue (representing rents recognized prior to being billed and collectible as provided by the terms of the leases) caused net increases to rent revenue of $3,155, $951 and $3,351 for the years ended December 31, 2021, 2020 and 2019, respectively. Also included, as an increase to rent revenue, for the years ended December 31, 2021, 2020 and 2019, are $2,714, $1,859 and $2,107, respectively, of net amortization related to above-and below-market in-place leases at properties acquired as provided by authoritative guidance on goodwill and intangible assets. Tenant recoveries are recognized as revenues in the period the applicable costs are incurred. We recognize rental revenue from tenants under operating leases on a straight-line basis over the non-cancelable term of the lease when collectibility of substantially all rents is reasonably assured. Recognition of rental revenue on a straight-line basis includes the effects of rental abatements, lease incentives and fixed and determinable increases in lease payments over the lease term. For leases where collection of substantially all rents is not deemed to be probable of collection, revenue is recorded equal to cash that has been received from the tenant. We evaluate the collectibility of rents and other receivables at each reporting period based on factors including, among others, tenant's payment history, the financial condition of the tenant, business conditions and trends in the industry in which the tenant operates, economic conditions in the geographic area where the property is located. If evaluation of these factors or others indicates it is not probable we will collect substantially all rent we recognize an adjustment to rental revenue. If our judgment or estimation regarding probability of collection changes we may adjust or record additional rental revenue in the period such conclusion is reached. The COVID-19 pandemic has had a negative impact on many of our tenant’s businesses and the collectibility of certain tenants rent receivable balances remain uncertain. We have taken into account current tenant conditions, which include consideration of COVID-19 in our estimation of its uncollectible accounts and deferred rents receivable at December 31, 2021. We are closely monitoring the collectibility of such rents and will adjust future estimations as further information becomes known. During the years ended December 31, 2021 and 2020, we recorded a reduction in minimum base rent and recovery revenue of $741, and $3,887, respectively. During the year ended December 31, 2021, we recorded an increase in straight line revenue of $102 as a result of collections from certain tenants. During the year ended December 31, 2020, we recorded a decrease in straight line revenue of $2,019 due to the concern of collectibility. During the years ended December 31, 2021 and 2020, we deferred $929 and $1,919, respectively, and we abated $537 and $1,142 of rental revenue, respectively. Cash and Cash Equivalents We consider all highly-liquid investments purchased with original maturities of three months or less to be cash equivalents. We maintain a portion of our cash in bank deposit accounts, which, at times, may exceed the federally insured limits. No losses have been experienced related to such accounts. We believe our bank deposit accounts are held with quality financial institutions. Restricted Cash Restricted cash includes amounts established pursuant to various agreements for loan escrow accounts, loan commitments and property sale proceeds. When we sell a property, we can elect to enter into a like-kind exchange pursuant to the applicable Internal Revenue Service guidance whereby the proceeds from the sale are placed in escrow with a qualified intermediary until a replacement property can be purchased. At December 31, 2021, our restricted cash balance on our Consolidated Balance Sheet was primarily related to loan escrow amounts and subscriptions received in advance. Deferred Expenses Deferred expenses consist of lease commissions. Lease commissions are capitalized and amortized over the term of the related lease as a component of depreciation and amortization expense. Accumulated amortization of deferred expenses at December 31, 2021 and 2020 was $8,436 and $6,495, respectively. Acquisitions We use estimates of future cash flows and other valuation techniques to allocate the fair value of acquired property among land, building and other identifiable asset and liability intangibles. We value land based on comparable land sales specific to the applicable market. We record building values using an as-if-vacant methodology. We record above- and below-market in-place lease values for acquired properties based on the present value (using an interest rate which reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) our estimate of fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining non-cancelable term of the lease plus any below-market lease extension option periods. We amortize the capitalized above-market lease values as a reduction of minimum rents over the remaining non-cancelable terms of the respective leases. We amortize the capitalized below-market lease values as an increase to minimum rents over the term of the respective leases plus any below-market lease extension option terms. Should a tenant terminate its lease prior to the contractual expiration, the unamortized portion of the above-market and below-market in-place lease value is immediately charged to minimum rents. We measure the aggregate value of other intangible assets acquired based on the difference between (i) the property valued with existing in-place leases and (ii) the property valued as-if-vacant. Our estimates of value are made using methods similar to those used by independent appraisers, primarily discounted cash flow analyses. Factors considered by us in our analysis include an estimate of carrying costs during the hypothetical expected lease-up periods considering current market conditions at the date of acquisition, and costs to execute similar leases. We also consider information obtained about each property as a result of the pre-acquisition due diligence, marketing and leasing activities in estimating the fair value of the tangible and intangible assets acquired. In estimating carrying costs, we will include estimates of lost rentals during the expected lease-up periods, which is expected to primarily range from one to two years, depending on specific local market conditions, and costs to execute similar leases, including leasing commissions, legal and other related expenses to the extent that such costs are not already incurred in connection with a new lease origination as part of the transaction. The total amount of other intangible assets acquired is further allocated to in-place lease values and customer relationship intangible values based on our evaluation of the specific characteristics of each tenant’s lease and our overall relationship with that respective tenant. Characteristics considered by us in allocating these values include, among other factors, the nature and extent of our existing business relationships with the tenant, growth prospects for developing new business with the tenant, the tenant’s credit quality and expectations of lease renewals (including those existing under the terms of the lease agreement). As of December 31, 2021 and 2020, we have allocated no value to customer relationship value. We amortize the value of in-place leases to expense over the weighted average lease term of the respective leases, which generally range from one Purchase price has been allocated to acquired intangible assets, which include acquired in-place lease intangibles, acquired above-market in-place lease intangibles and acquired ground lease intangibles, which are reported net of accumulated amortization of $102,842 and $82,699 at December 31, 2021 and 2020, respectively, on the accompanying Consolidated Balance Sheets. The acquired intangible liabilities represent acquired below-market in-place leases, which are reported net of accumulated amortization of $15,481 and $12,724 at December 31, 2021 and 2020, respectively, on the accompanying Consolidated Balance Sheets. Our amortizing intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. According to authoritative guidance, an amortizing intangible asset is considered to be impaired when the estimated future undiscounted operating cash flow is less than its carrying value. To the extent impairment has occurred, the excess of the carrying value of the amortizing intangible asset over its estimated fair value will be charged to operations. Future amortization related to amortizing acquired intangible assets and liabilities, including those classified as held for sale, as of December 31, 2021 is as follows: Acquired in-place leases Acquired above-market leases Below-market ground lease Acquired below-market leases 2022 $ 43,720 $ 1,790 $ 401 $ (4,991) 2023 34,161 1,581 401 (4,497) 2024 27,358 1,353 401 (4,020) 2025 20,202 1,194 401 (3,566) 2026 16,269 1,174 15 (2,713) Thereafter 59,150 6,424 232 (11,235) $ 200,860 $ 13,516 $ 1,851 $ (31,022) Income Taxes We first elected to be taxed as a REIT under sections 856-860 of the Internal Revenue Code of 1986, as amended (the “Code”), for our taxable year ended December 31, 2004. To qualify as a REIT, we must meet a number of organizational and operational requirements, including requirements to distribute at least 90% of our REIT taxable income, determined without regard to the dividends paid deduction and excluding net capital gains, and to meet certain quarterly asset and annual income tests. It is our current intention to adhere to these requirements. As a REIT, we will generally not be subject to corporate-level federal income tax to the extent we distribute 100% of our taxable income to our stockholders. If we fail to qualify as a REIT in any taxable year, we will be subject to federal income taxes at regular corporate rates (including any applicable alternative minimum tax) and may not be able to qualify as a REIT for four subsequent taxable years. Even if we qualify for taxation as a REIT, we may be subject to certain state and local taxes on our income, property or net worth, and to certain federal income and excise taxes. On December 22, 2017, tax legislation commonly referred to as the Tax Cuts and Jobs Act was signed into law which resulted in significant U.S. federal income tax reform. We did not identify any items for which the accounting for the income tax effects of the Tax Cut and Jobs Act have not been completed. The Alternative Minimum Tax has been repealed for tax years beginning after December 31, 2017 as a result of the Tax Cut and Jobs Act. Earnings and profits, which determine the tax treatment of dividends to stockholders, differ from net income reported for financial reporting purposes due to differences for federal income tax reporting purposes in computing, among other things, estimated useful lives, depreciable basis of properties and permanent and timing differences on the inclusion or deductibility of elements of income and expense for such purposes. We evaluate uncertain tax positions in accordance with FASB ASC 740, Income Taxes . Based upon our current evaluation, we have concluded that there are no significant uncertain tax positions relevant to the jurisdictions where we are required to file income tax returns requiring recognition in the consolidated financial statements at December 31, 2021, 2020, and 2019. We are not subject to federal income tax examinations for tax years prior to 2018. Business Segments Consistent with how we review and manage our properties, we align our internal operations along the five primary property types we are targeting for investments resulting in five operating segments: industrial, office, residential, retail and other properties. Assets and Liabilities Measured at Fair Value The Financial Accounting Standards Board’s (“FASB”) guidance for fair value measurement and disclosure states that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering assumptions, authoritative guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: • Level 1 —Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that we have access to at the measurement date. • Level 2 —Observable inputs, other than quoted prices included in level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs are those in markets for which there are few transactions, the prices are not current, little public information exists or instances where prices vary substantially over time or among brokered market makers. • Level 3 —Unobservable inputs for the asset or liability. Unobservable inputs are those inputs that reflect our own assumptions that market participants would use to price the asset or liability based on the best available information. The authoritative guidance requires the disclosure of the fair value of our financial instruments for which it is practicable to estimate that value. The guidance does not apply to all balance sheet items. Market information as available or present value techniques have been utilized to estimate the amounts required to be disclosed. Since such amounts are estimates, there can be no assurance that the disclosed value of any financial instrument could be realized by immediate settlement of the instrument. Our investments in marketable securities are valued using Level 1 inputs as the securities are publicly traded on major stock exchanges. Real estate fund investments accounted for under the fair value option are stated at the fair value of our ownership in the fund. The fair value is recorded based upon changes in the NAV of the limited partnership as determined from the financial statements of the real estate fund. During the year ended December 31, 2021 and 2020, we recorded an unrealized increase and decrease in fair value classified within the Level 3 category of $65,966 and $15,869, respectively, which related to our investments in the NYC Retail Portfolio (as defined below) and the Single-family Rental Portfolio ( see Note 4-Unconsolidated Real Estate Affiliates and Fund Investments ). We have estimated the fair value of our mortgage notes and other debt payable reflected in the accompanying Consolidated Balance Sheets at amounts that are based upon an interpretation of available market information and valuation methodologies (including discounted cash flow analysis with regard to fixed rate debt) for similar loans made to borrowers with similar credit ratings and for the same maturities. The fair value of our mortgage notes and other debt payable, including amounts included as held for sale, using level two inputs was approximately $3,794 and $30,923 higher than the aggregate carrying amounts at December 31, 2021 and 2020, respectively. Such fair value estimates are not necessarily indicative of the amounts that would be realized upon extinguishment of our mortgage notes and other debt payable. Derivative Financial Instruments We record all derivatives on the Consolidated Balance Sheets at fair value in prepaid expenses and other assets or accounts payable and other accrued expenses. Changes in the fair value of our derivatives are recorded on our Consolidated Statements of Operations and Comprehensive Income, as a component of interest expense, as we have not designated our derivative instruments as hedges. Our objective in using interest rate derivatives is to manage our exposure to interest rate movements. To accomplish this objective, we use interest rate caps and swaps. As of December 31, 2021, we had the following outstanding interest rate derivatives related to managing our interest rate risk: Interest Rate Derivative Number of Instruments Notional Amount Interest Rate Swaps 5 $ 190,000 Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions. These estimates and assumptions impact the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. For example, significant estimates and assumptions have been made with respect to useful lives of assets, recoverable amounts of receivables, fair value of derivatives and real estate assets, initial valuations and related amortization periods of deferred costs and intangibles, particularly with respect to property acquisitions. Actual results could differ from those estimates. Recent Issued Accounting Pronouncements In March 2020, the Financial Accounting Standards Board issued Accounting Standard Update ("ASU") No. 2020-04, Reference Rate Reform (Topic 848), which provides guidance containing practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. We will continue to evaluate the impact of the guidance and expect to adopt it over time as debt markets transition from LIBOR to alternative rates such as the Secured Overnight Funding Rate ("SOFR"). |
Property (Notes)
Property (Notes) | 12 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Real Estate Disclosure [Text Block] | PROPERTY The primary reason we make acquisitions of real estate investments in the industrial, office, residential, retail and other property sectors is to invest capital contributed by stockholders in a diversified portfolio of real estate assets. All references to square footage and units are unaudited. 2021 Acquisitions On January 21, 2021, we acquired Louisville Distribution Center, a 1,040,000 square foot industrial property located in Shepherdsville, Kentucky for approximately $95,000. The acquisition was funded with cash on hand. On February 2, 2021, we acquired 170 Park Avenue, a 147,000 square foot life sciences office property located in Florham Park, New Jersey for approximately $46,600. The acquisition was funded with cash on hand. On February 23, 2021, we acquired Southeast Phoenix Distribution Center, a four property industrial distribution center totaling 474,000 square feet located in Chandler, Arizona for approximately $91,000. The acquisition was funded with cash on hand. On May 3, 2021, we acquired Princeton North Andover, a newly constructed, 192-unit residential property located in North Andover, Massachusetts for approximately $72,500. The acquisition was funded with cash on hand. On June 24, 2021, we acquired Louisville Airport Distribution Center, a nearly 284,000 square foot, newly constructed Class A industrial property located in the Southside/Airport industrial submarket of Louisville, Kentucky for approximately $32,100. The acquisition was funded with cash on hand. On July 2, 2021, we acquired a 95% interest in two industrial buildings, 237 Via Vera Cruz and 13500 Danielson Street, totaling 153,000 square feet located in San Marcos and Poway, California, respectively, for approximately $36,640. The acquisitions were funded with cash on hand. On July 9, 2021, we acquired a 95% interest in 4211 Starboard Drive, a 130,000 square foot industrial property located in Fremont, California for approximately $32,000 using cash on hand. On August 23, 2021, we acquired The Preserve at the Meadows, a 220-unit garden-style residential property in Fort Collins, Colorado for approximately $61,000. The acquisition was funded with cash on hand. On August 31, 2021, we acquired The Rockwell, a 204-unit residential property in Berlin, Massachusetts for approximately $84,000. The acquisition was funded with cash on hand. On September 15, 2021, we acquired 9101 Stony Point Drive, an 87,000 square foot, medical office building in Richmond, Virginia for approximately $52,000. The acquisition was funded with cash on hand. On September 28, 2021, we acquired 5 National Way and 47 National Way, a two-building life sciences industrial center totaling 375,000 square feet, located in Durham, North Carolina for approximately $66,750. The acquisitions were funded with cash on hand. On September 29, 2021, we acquired Miramont Apartments, a 210-unit residential property located in Fort Collins, Colorado for approximately $57,400. The acquisition was funded with cash on hand and a draw on our line of credit. On September 29, 2021, we acquired Pinecone Apartments, a 195-unit residential property located in Fort Collins, Colorado for approximately $51,600. The acquisition was funded with cash on hand and a draw on our line of credit. On October 7, 2021, we acquired North Tampa Surgery Center, a 13,000 s quare foot medical office property located in Odessa, Florida for approximately $8,500. The acquisition was funded with cash on hand. On October 20, 2021, we acquired Friendship Distribution Center, a 649,000 square foot industrial property located in Buford, Georgia for approximately $95,000. The acquisition was funded with cash on hand. On October 28, 2021 we acquired South San Diego Distribution Center, a 665,000 square foot industrial property located in San Diego, California for approximately $158,500. We assumed a $72,500 mortgage note payable that bears an interest rate of 3.18% and matures on January 31, 2031. The acquisition was funded as an UPREIT transaction in which we issued OP Units and funded with cash on hand. On November 16, 2021, we acquired two industrial buildings, 1755 Britannia Drive and 2451 Bath Road, totaling 407,000 square feet located in Elgin, Illinois for approximately $47,100. The acquisitions were funded with cash on hand and a draw on our line of credit. On November 17, 2021, we acquired 687 Conestoga Parkway, a 327,000 square foot industrial property located in Shepherdsville, Kentucky for approximately $39,500. The acquisition was funded with cash on hand and a draw on our line of credit. On November 30, 2021, we acquired a 95% interest in two industrial properties, 2840 Loker Avenue and 15890 Bernardo Center Drive, totaling 152,000 square feet located in Carlsbad and San Diego, California, respectively, for approximately $41,100. The acquisitions were funded with cash on hand and a draw on our line of credit. On December 17, 2021, we acquired The Reserve at Venice, a 276-u nit residential property in North Venice, Florida for approximately $93,000. The acquisition was funded with cash on hand and a draw on our line of credit. On December 21, 2021, we acquired Woodside Trumbull, a 199-unit residential property in Trumbull, Connecticut for approximately $98,000. The acquisition was funded with cash on hand and a draw on our line of credit. On December 23, 2021, we acquired Durham Medical Office, a 60,000 squ are feet medical office property located in Durham, North Carolina for approximately $37,125. The acquisition was funded with cash on hand and a draw on our line of credit. On December 23, 2021, we acquired 1203 SW 7 Highway, a 10,000 square foot, medical office property in Blue Springs, Missouri for approximately $3,400. The acquisition was funded with cash on hand and a draw on our line of credit. On December 23, 2021, we acquired 8600 NE 82nd Street, a 11,000 square foot, medical office property in Kansas City, Missouri for approximately $5,500. The acquisition was funded with cash on hand and a draw on our line of credit. On December 28, 2021, we acquired South Reno Medical Center, a 32,000 square foot, medical office property in Reno, Nevada for approximately $14,025. The acquisition was funded with cash on hand and a draw on our line of credit. On December 28, 2021, we acquired Roeland Park Medical O ffice, a 30,000 square foot, medical office property in Roeland Park, Kansas for approximately $13,300. The acquisition was funded with ca sh on hand and a draw on our line of credit. On December 30, 2021, we acquired Sugar Land Medical Office, a 37,000 squar e foot, medical office property in Sugar Land, Texas for approximately $18,350. The acquisition was funded with cash on hand and a draw on our line of credit. We allocated the purchase price for our 2021 asset acquisitions in accordance with authoritative guidance as follows: 2021 Acquisitions Land $ 173,962 Building and equipment 1,145,365 In-place lease intangible (acquired intangible assets) 135,278 Above-market lease intangible (acquired intangible assets) 9,568 Below-market lease intangible (acquired intangible liabilities) (19,997) $ 1,444,176 Amortization period for intangible assets and liabilities 5 months - 19 years 2020 Acquisitions On January 29, 2020, we acquired Milford Crossing, a 159,000 square foot, grocery-anchored retail center located in Milford, Massachusetts, for approximately $42,100. The acquisition was funded with cash on hand. On February 6, 2020, we acquired Fountainhead Corporate Park, a 295,000 square foot, two-building Class A office portfolio comprised of two six-story buildings located in the Phoenix, Arizona submarket of Tempe for approximately $61,500. The acquisition was funded with cash on hand. On October 23, 2020, we acquired Fort Worth Distribution Center, a 351,000 square foot industrial distribution center located in Fort Worth, Texas, for approximately $24,050. The acquisition was funded with cash on hand. On December 11, 2020, we acquired Whitestown Distribution Center, a 720,000 square foot distribution center located in Whitestown, Indiana for approximately $62,300. The acquisition was funded with cash on hand. We allocated the purchase price for our 2020 asset acquisitions in accordance with authoritative guidance as follows: 2020 Acquisitions Land $ 15,782 Building and equipment 136,430 In-place lease intangible (acquired intangible assets) 35,345 Above-market lease intangible (acquired intangible assets) 2,947 Below-market lease intangible (acquired intangible liabilities) (2,317) $ 188,187 Amortization period for intangible assets and liabilities 5 months - 15 years 2019 Acquisitions On March 29, 2019, we acquired Fremont Distribution Center, a 237,000 square foot, two building industrial property located in Fremont, California, for approximately $47,000. The acquisition was funded with cash on hand. On May 13, 2019, we acquired Stonemeadow Farms, a 280-unit residential property located in Bothell, Washington, for approximately $81,800. The acquisition was funded with cash on hand. On May 31, 2019, we acquired 3324 West Trinity Boulevard, a 145,000 square foot industrial distribution center located in Grand Prairie, Texas, for approximately $16,150. The acquisition was funded with cash on hand. On July 2, 2019, we acquired Genesee Plaza, a 161,000 square foot two building medical office campus located in San Diego, California, for approximately $89,500. The acquisition was funded by the assumption of a six-year mortgage loan that bears interest at a fixed rate of 4.30% in the amount of $41,546 and with cash on hand. On July 31, 2019, we acquired Summit at San Marcos, a 273-unit residential property located in Chandler, Arizona, for approximately $71,750. The acquisition was funded with a draw on the credit facility and cash on hand. On August 23, 2019, we acquired Taunton Distribution Center, a 200,000 square foot industrial distribution center located in Taunton, Massachusetts, for approximately $25,700. The acquisition was funded with cash on hand. On September 30, 2019, we acquired a 97.5% interest in Presley Uptown, a 230-unit residential property in the Uptown submarket of Charlotte, North Carolina. The joint venture acquired the property for approximately $55,250. The acquisition was funded with a draw on the credit facility and cash on hand. On December 6, 2019, we acquired Chandler Distribution Center, a 211,000 square foot industrial distribution center located in Chandler, Arizona for $31,000. The acquisition was funded with cash on hand. We allocated the purchase price for our 2019 asset acquisitions in accordance with authoritative guidance as follows: 2019 Acquisitions Land $ 74,458 Building and equipment 313,335 In-place lease intangible (acquired intangible assets) 32,312 Above-market lease intangible (acquired intangible assets) 998 Below-market lease intangible (acquired intangible liabilities) (2,702) $ 418,401 Amortization period for intangible assets and liabilities 1 month -10 years On December 5, 2019, we acquired our joint venture partner's 10% interest in Townlake of Coppell for approximately $6,000 plus the assumption of the joint venture partners pro rata share of the mortgage loan in the amount of approximately $2,880. Impairment of Investment in Real Estate During the year ended December 31, 2021, i n accordance with authoritative guidance for impairment of long-lived assets, we determined that The Edge at Lafayette no longer fits our current investment objectives and strategy and reduced our expected hold period. We further determined that this asset was impaired as the carrying value of the investment was not deemed recoverable. Therefore, we recognized an impairment charge totaling $1,822, which represents the difference between the sale price less estimated costs to sell and the carrying value of the property. 2021 Disposition On January 8, 2021, we sold South Seattle Distribution Center, a three property industrial center totaling 323,000 square feet located in Seattle, Washington for approximately $72,600 less closing costs. In connection with the disposition, the mortgage loan associated with the property of $17,841 was retired. We recorded a gain on the sale of the property in the amount of $33,580. 2020 Disposition On March 27, 2020, we sold 24823 Anza Drive, a 31,000 square foot industrial property located in Santa Clarita, California for approximately $5,600 less closing costs. We recorded a gain on the sale of the property in the amount of $1,724. 2019 Disposition On February 7, 2019, we sold 111 Sutter Street for approximately $227,000 less closing costs. In connection with the disposition, the mortgage loan associated with the property of approximately $52,300 was retired. We recorded a gain on the sale of property in the amount of $107,108. Held for Sale On December 15, 2021, Norfleet Distribution Center was classified as held for sale and was sold on January 6, 2022. On December 23, 2021, The Edge at Lafayette was classified as held for sale and was sold on January 24, 2022. As of December 31, 2021, our investment in real estate and other assets and liabilities held for sale was comprised of: December 31, 2021 Land $ 3,530 Building and equipment, net 35,349 Other assets, net 447 Total assets $ 39,326 Mortgage notes and other debt payable, net $ — Other liabilities 271 Total liabilities $ 271 On November 11, 2020, South Seattle Distribution Center was classified as held for sale and was sold on January 8, 2021. As of December 31, 2021, our investment in real estate and other assets and liabilities held for sale was comprised of: December 31, 2020 Land $ 16,652 Building and equipment, net 16,237 Other assets, net 1,616 Total assets $ 34,505 Mortgage notes and other debt payable, net $ 17,811 Other liabilities 430 Total liabilities $ 18,241 |
Unconsolidated Real Estate Affi
Unconsolidated Real Estate Affiliates | 12 Months Ended |
Dec. 31, 2021 | |
Unconsolidated Real Estate Affiliates [Abstract] | |
UNCONSOLIDATED REAL ESTATE AFFILIATES | NOTE 4—UNCONSOLIDATED REAL ESTATE AFFILIATES AND FUND INVESTMENTS In addition to investments in consolidated properties, we may make investments in real estate which are classified as unconsolidated real estate affiliates under GAAP. The residential sector includes residential properties and single-family rental homes. Unconsolidated Real Estate Affiliates The following represent our unconsolidated real estate affiliates as of December 31, 2021 and December 31, 2020. Carrying Amount of Investment Property Property Type Location Acquisition Date December 31, 2021 December 31, 2020 Chicago Parking Garage Other Chicago, IL December 23, 2014 $ 13,992 $ 14,000 Pioneer Tower Office Portland, OR June 28, 2016 103,529 108,715 The Tremont Residential Burlington, MA July 19, 2018 21,345 21,430 The Huntington Residential Burlington, MA July 19, 2018 10,773 11,549 Siena Suwanee Town Center Residential Suwanee, GA December 15, 2020 30,685 32,196 Kingston at McLean Crossing Residential McLean, VA December 3, 2021 36,720 — Total $ 217,044 $ 187,890 Summarized Combined Balance Sheets—Unconsolidated Real Estate Affiliates—Equity Method Investments (Unaudited) December 31, 2021 December 31, 2020 Net investments in real estate $ 408,233 $ 296,930 Acquired intangible assets, net 10,139 12,653 Other assets 8,433 6,803 Total assets $ 426,805 $ 316,386 Mortgage notes and other debt payable $ 182,318 $ 110,104 Acquired intangible liabilities, net 3,933 2,821 Other liabilities 2,266 3,200 Total liabilities 188,517 116,125 Members’ equity 238,288 200,261 Total liabilities and members' equity $ 426,805 $ 316,386 Company Investments in Unconsolidated Real Estate Affiliates—Equity Method Investments (Unaudited) December 31, 2021 December 31, 2020 Members’ equity $ 238,288 $ 200,261 Less: other members' equity (19,858) (10,969) Basis differential (1,386) (1,402) Investments in unconsolidated real estate affiliates $ 217,044 $ 187,890 Summarized Combined Statements of Operations—Unconsolidated Real Estate Affiliates—Equity Method Investments (Unaudited) Year Ended December 31, 2021 Year Ended December 31, 2020 Year Ended December 31, 2019 Total revenues $ 24,862 $ 18,978 $ 21,057 Total operating expenses 22,868 17,792 17,014 Operating income $ 1,994 $ 1,186 $ 4,043 Total other expenses 4,586 2,894 2,860 Net (loss) income $ (2,592) $ (1,708) $ 1,183 Company Equity in Income of Unconsolidated Real Estate Affiliates—Equity Method Investments (Unaudited) Year Ended December 31, 2021 Year Ended December 31, 2020 Year Ended December 31, 2019 Net (loss) income of unconsolidated real estate affiliates $ (2,592) $ (1,708) $ 1,183 Other members’ share of net (income) loss (186) (368) (351) Company equity in (loss) income of unconsolidated real estate affiliates $ (2,778) $ (2,076) $ 832 Real Estate Fund Investments At acquisition we may make the election to account for our interest in investments under the fair value option. This fair value election may be made when the investment is in the form of a commingled fund with institutional partners where fair value accounting provides the most relevant information about the financial condition of the investment. We record increases and decreases in our investment each reporting period based on the change in the fair value of the investment as estimated by the general partner. Critical inputs to NAV estimates include valuations of the underlying real estate assets which incorporate investment-specific assumptions such as discount rates, capitalization rates and rental growth rates. We do not consider adjustments to NAV estimates provided by the general partner, including adjustments for any restrictions to the transferability of ownership interests embedded within the investment agreement to which we are a party, to be necessary based upon (1) our understanding of the methodology utilized and inputs incorporated to estimate NAV at the investment level, (2) consideration of market demand for the assets held by the venture, and (3) contemplation of real estate and capital markets conditions in the localities in which the venture operates. Our investments accounted for under the fair value option are presented on our Consolidated Balance Sheets within real estate fund investments. Changes in the fair value of our investments as well as cash distributions received are recorded on our Consolidated Statements of Operations within income from unconsolidated real estate affiliates and fund investments. NYC Retail Portfolio On December 8, 2015, a wholly-owned subsidiary of ours acquired an approximate 28% interest in a newly formed limited partnership, Madison NYC Core Retail Partners, L.P, which acquired an approximate 49% interest in entities that initially owned 15 retail properties located in the greater New York City area (the “NYC Retail Portfolio”), the result of which is that we own an approximate 14% interest in the NYC Retail Portfolio. The purchase price for such portion is approximately $85,600 including closing costs. As of December 31, 2021, the NYC Retail Portfolio owned eight retail properties totaling approximately 1,940,000 square feet across urban infill locations in Manhattan, Brooklyn, Queens and New Jersey. We have no unfunded commitments. As of December 31, 2021 and December 31, 2020, the carrying amount of our investment in the NYC Retail Portfolio was $84,874 and $79,192, respectively. During the year ended December 31, 2021, we recorded increases in fair value of our investment in the NYC Retail Portfolio of $4,021 and received no cash distributions. During the year ended December 31, 2021, we made a $1,661 capital contribution to and received no distributions from Madison NYC Core Retail Partners, L.P. During the year ended December 31, 2020, we recorded decreases in fair value of our investment in the NYC Retail Portfolio of $15,869 and received no cash distributions. During the year ended December 31, 2020, we made a $1,661 capital contribution to Madison NYC Core Retail Partners, L.P. On March 4, 2020, a retail property in the NYC Retail Portfolio with a square footage of 74,000 was sold and the mortgage loan was extinguished. Single-Family Rental Portfolio On August 5, 2021, we acquired an approximate 47% interest in a portfolio of approximately 4,000 stabilized single-family rental homes located in various markets across the United States, including Atlanta, Dallas, Phoenix, Nashville and Charlotte, among others (the "Single-Family Rental Portfolio"). The portfolio is encumbered by securitized mortgages in a net amount of approximately $760,000 maturing in the fourth quarter of 2025 at a weighted average interest rate of 2.1%. The equity purchase price for our approximate 47% interest was approximately $205,000. We funded the transaction using cash on hand and a draw on our Revolving Credit Facility. As of December 31, 2021, the carrying amount of our investment in the Single-Family Rental Portfolio was $268,031. During the year ended December 31, 2021, we recorded an increase in the fair value of our investment in the Single-Family Rental Portfolio of $61,945. During the year ended December 31, 2021, we received distributions of income totaling $4,145. The cash distributions of income increased income from unconsolidated real estate affiliates and fund investments. During the year ended December 31, 2021, we made a working capital funding of $909 to GVI RH JV Investor LLC and paid $343 in closing costs. Summarized Combined Balance Sheets—NYC Retail Portfolio Investment and Single-Family Rental Portfolio—Fair Value Option Investment (Unaudited) December 31, 2021 December 31, 2020 Investment in real estate venture $ 1,666,923 $ 290,830 Cash 19,650 3,158 Other assets 55,562 202 Total assets $ 1,742,135 $ 294,190 Total liabilities $ 823,503 $ 7,405 Partners' capital 918,632 286,785 Total liabilities and partners' capital $ 1,742,135 $ 294,190 Summarized Statement of Operations—NYC Retail Portfolio Investment and Single-Family Rental Portfolio—Fair Value Option Investment (Unaudited) Year Ended December 31, 2021 Year Ended December 31, 2020 Year Ended December 31, 2019 Total revenue $ 31,945 $ 2,261 $ 6,001 Net investment income (loss) $ 4,025 $ (28) $ 4,128 Net change in unrealized gain (loss) on investment in real estate venture 162,207 (57,323) 15,292 Net income (loss) $ 166,232 $ (57,351) $ 19,420 |
Mortgage Notes Payable (Notes)
Mortgage Notes Payable (Notes) | 12 Months Ended |
Dec. 31, 2021 | |
Mortgage Notes Payable [Abstract] | |
Debt Disclosure [Text Block] | MORTGAGE NOTES AND OTHER DEBT PAYABLE Mortgage notes and other debt payable have various maturities through 2031 and consist of the following: Property Maturity/Extinguishment Date Fixed / Interest Amount payable as of December 31, 2021 December 31, 2020 140 Park Avenue (1) March 1, 2021 Fixed 3.00 % $ — $ 22,800 Monument IV at Worldgate (2) February 1, 2023 Fixed 3.13 — 40,000 Aurora Distribution Center June 1, 2023 Fixed 3.39 13,441 13,716 180 N Jefferson July 1, 2023 Fixed 3.89 45,000 45,000 Grand Lakes Marketplace October 1, 2023 Fixed 4.20 23,900 23,900 Oak Grove Plaza February 1, 2024 Fixed 4.17 8,915 9,154 Charlotte Distribution Center September 1, 2024 Fixed 3.66 9,341 9,556 Genesee Plaza January 1, 2025 Fixed 4.30 39,285 40,221 Jory Trail at the Grove February 1, 2025 Fixed 3.81 42,793 43,600 Skokie Commons June 1, 2025 Fixed 3.31 23,627 24,120 DFW Distribution Center June 1, 2025 Fixed 3.23 17,720 17,720 AQ Rittenhouse September 1, 2025 Fixed 3.65 26,370 26,370 Timberland Town Center October 1, 2025 Fixed 4.07 20,253 20,746 Whitestone Market December 1, 2025 Fixed 3.58 25,750 25,750 Miramont Apartments March 1, 2026 Fixed 3.87 27,629 — Pinecone Apartments March 1, 2026 Fixed 3.87 25,355 — Louisville Distribution Center May 1, 2026 Fixed 1.76 52,250 — Maui Mall June 1, 2026 Fixed 3.64 36,322 37,122 Rancho Temecula Town Center July 1, 2026 Fixed 4.02 28,000 28,000 Dylan Point Loma September 1, 2026 Fixed 3.83 40,319 40,500 237 Via Vera Cruz September 1, 2026 Floating 1.50 11,880 — 4211 Starboard Drive September 1, 2026 Floating 1.50 20,612 — 13500 Danielson Street September 1, 2026 Floating 1.50 10,990 — 2840 Loker Ave September 1, 2026 Floating 1.50 14,316 — 15890 Bernardo Center September 1, 2026 Floating 1.50 8,702 — Lane Parke Apartments November 1, 2026 Fixed 3.18 37,000 37,000 The District at Howell Mill March 1, 2027 Fixed 5.30 28,858 29,638 San Juan Medical Center October 1, 2027 Fixed 3.35 16,730 16,730 Whitestown Distribution Center February 10, 2028 Fixed 2.95 34,000 — Townlake of Coppell April 10, 2028 Fixed 2.41 36,030 — Southeast Phoenix Distribution Center June 1, 2028 Fixed 2.70 49,000 — Princeton North Andover June 1, 2028 Floating 1.65 39,900 — Stonemeadow Farms August 1, 2029 Fixed 3.62 44,722 45,000 Presley Uptown November 1, 2029 Fixed 3.25 30,000 30,000 Reserve at Johns Creek December 1, 2029 Fixed 3.58 26,000 26,000 Summit at San Marcos May 1, 2030 Fixed 3.28 35,900 35,900 Mason Mill Distribution Center October 1, 2030 Fixed 3.25 17,500 17,500 The Penfield October 1, 2030 Fixed 2.50 35,500 35,500 South San Diego Distribution Center January 1, 2031 Fixed 3.18 72,500 — Villas at Legacy January 1, 2031 Fixed 2.53 29,500 29,500 The Preserve at the Meadows October 1, 2031 Fixed 2.57 32,400 — The Rockwell October 1, 2031 Fixed 2.62 46,310 — Revolving line of credit May 25, 2024 Fixed & Floating 1.75 - 3.68 300,000 — Bridge loan December 10, 2022 Floating 1.75 100,000 — Term loans May 25, 2024 Fixed & Floating 1.70 - 3.40 235,000 100,000 TOTAL $ 1,819,620 $ 871,043 Net debt discount on assumed debt and debt issuance costs (1,956) (2,941) MORTGAGE NOTES AND OTHER DEBT PAYABLE, NET $ 1,817,664 $ 868,102 South Seattle Distribution Center (3) $ — $ 17,873 MORTGAGE NOTES AND OTHER DEBT PAYABLE OF HELD FOR SALE PROPERTY $ — $ 17,873 ________ (1) On March 8, 2021, we repaid the mortgage note payable related to 140 Park Avenue in the amount of $22,800. (2) On March 17, 2021, we repaid the mortgage note payable related to Monument IV in the amount of $40,000. (3) The property associated with this loan was designated as held for sale as of December 31, 2020. The property associated with this loan was sold on January 8, 2021 and the loan was repaid. We have recognized a premium or discount on debt we assumed with the following property acquisitions, the remaining premium or discount is as follows as of December 31, 2021: Property Debt Premium Effective The District at Howell Mill $ (1,035) 6.34 % Timberland Town Center 382 3.34 Jory Trail at the Grove (80) 3.94 Genesee Plaza 991 4.30 Pinecone Apartments 1,572 2.33 Miramont Apartments 1,712 2.33 South San Diego 3,399 3.18 Net debt premium on assumed debt $ 6,941 Aggregate future principal payments of mortgage notes payable and other debt payable are as follows: Year Amount 2022 $ 107,812 2023 89,890 2024 559,917 2025 192,296 2026 308,023 Thereafter 561,682 Total $ 1,819,620 Land, buildings, equipment and acquired intangible assets related to the mortgage notes payable, with an aggregate cost of approximately $2,421,000 and $1,642,000 at December 31, 2021 and 2020, respectively, have been pledged as collateral, and are not available to satisfy our debts and obligations unless first satisfying the mortgage note payable on the property. As our mortgage notes mature, we will explore refinancing and paying off the loans as well as full or partial sales of the properties. To accomplish these refinancings and pay downs, we would use cash on hand, cash from future property operations and capital from the proceeds of the Current Public Offering. Credit Facility On May 24, 2021, we entered into a credit agreement providing for a $650,000 revolving line of credit and unsecured term loan (collectively, the "Credit Facility") with a syndicate of eight lenders led by JPMorgan Chase Bank, N.A., Bank of America, N.A., and PNC Capital Markets LLC and Wells Fargo Bank, N.A. The Credit Facility provides us with the ability, from time to time, to increase the size of the Credit Facility up to a total of $800 million, subject to receipt of lender commitments and other conditions. The $650,000 Credit Facility consists of a $415,000 revolving line of credit (the “Revolving Credit Facility”) and a $235,000 term loan (the “Term Loan”). The Revolving Credit Facility contains a sublimit of $25,000 for letters of credit. The primary interest rate for the Revolving Credit Facility is based on LIBOR, plus a margin ranging from 1.40% to 2.10%, depending on our total leverage ratio. The primary interest rate for the Term Loan is based on LIBOR, plus a margin ranging from 1.35% to 2.05%, depending on our total leverage ratio. The maturity date of the Revolving Credit Facility and the Term Loan is May 24, 2025. Based on our current total leverage ratio, we can elect to borrow at LIBOR plus 1.65% and LIBOR plus 1.60% for the Revolving Credit Facility and Term Loan, respectively, or alternatively, we can choose to borrow at a “base rate” equal to (i) the highest of (a) the Federal Funds Rate plus 0.50%, (b) the prime rate announced by JPMorgan Chase Bank, N.A., and (c) LIBOR plus 1.0%, plus (ii) a margin ranging from 0.40% to 1.10% for base rate loans under the Revolving Credit Facility or a margin ranging from 0.35% to 1.05% for base rate loans under the Term Loan. If the “base rate” is less than 1.0%, it will be deemed to be 1.0% for purposes of the Credit Facility. We intend to use the Revolving Credit Facility to cover short-term capital needs, for new property acquisitions and working capital. We may not draw funds on our Credit Facility if we (i) experience a material adverse effect, which is defined to include, among other things, (a) a material adverse effect on the business, assets, operations or financial condition of the Company taken as a whole; (b) the inability of any loan party to perform any of its obligations under any loan document; or (c) a material adverse effect upon the validity or enforceability of any loan document or (ii) are in default, as that term is defined in the agreement, including a default under certain other loan agreements and/or guarantees entered into by us or our subsidiaries. As of December 31, 2021, we believe no material adverse effects had occurred. On December 10, 2021, we entered into an additional $100,000 short-term bridge loan (the "Bridge Loan") with JPMorgan Chase Bank, N.A. under the same terms as our Credit Facility. The Bridge Loan bears interest at the secured overnight financing rate ("SOFR") plus 1.45% to 2.15% depending on our total leverage ratio. The maturity date of the Bridge Loan is June 10, 2022 and has two, three month extension options. Based on our current total leverage ratio this borrowing is priced at SOFR plus 1.70%. Borrowings under the Credit Facility are guaranteed by us and certain of our subsidiaries. The Credit Facility requires the maintenance of certain financial covenants, including: (i) unencumbered property pool leverage ratio; (ii) debt service coverage ratio; (iii) maximum total leverage ratio; (iv) fixed charges coverage ratio; (v) minimum NAV; (vi) maximum secured debt ratio; (vii) maximum secured recourse debt ratio; (viii) maximum permitted investments; and (ix) unencumbered property pool criteria. The Credit Facility provides the flexibility to move assets in and out of the unencumbered property pool during the term of the Credit Facility. At December 31, 2021, we had $300,000 outstanding under the Revolving Credit Facility at LIBOR + 1.65%, $235,000 outstanding under the Term Loan at LIBOR + 1.60% and $100,000 outstanding under the Bridge Loan at SOFR +1.70%. We swapped the LIBOR portion on $100,000 of our Term Loan to a blended fixed rate of 1.80% (all in rate of 3.40% at December 31, 2021). We swapped $90,000 of the Revolving Credit Facility to a fixed rate of 2.08% (all in rate of 3.68% at December 31, 2021). The interest swap agreements have maturity dates ranging from May 26, 2022 through February 17, 2023. At December 31, 2020, we had nothing outstanding under our previous revolving line of credit and $100,000 outstanding under the Term Loans. Covenants At December 31, 2021, we were in compliance with all debt covenants. Debt Issuance Costs |
Common Stock
Common Stock | 12 Months Ended |
Dec. 31, 2021 | |
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |
COMMON STOCK | COMMON STOCK AND OP UNITS We have five classes of common stock: Class A, Class M, Class A-I, Class M-I, and Class D. The fees payable to LaSalle Investment Management Distributors, LLC, an affiliate of our Advisor and the dealer manager for our offerings (the "Dealer Manager"), with respect to each outstanding share of each class, as a percentage of NAV, are as follow: Selling Commission (1) Dealer Manager Fee (2) Class A Shares up to 3.0% 0.85% Class M Shares — 0.30% Class A-I Shares up to 1.5% 0.30% Class M-I Shares — None Class D Shares (3) up to 1.0% None ________ (1) Selling commissions are paid on the date of sale of our common stock. (2) We accrue all future dealer manager fees up to the ten percent regulatory limitation as accrued offering costs on our Consolidated Balance Sheets on the date of sale of our common stock. For NAV calculation purposes, dealer manager fees are accrued daily, on a continuous basis equal to 1/365th of the stated fee. Each Class A, Class M and Class A-I share sold in a public offering will automatically convert into the number of Class M-I shares based on the then-current applicable NAV of each class on the date following the termination of the primary portion of such public offering in which we, with the assistance of the Dealer Manager, determine that total underwriting compensation paid with respect to such public offering equals 10% of the gross proceeds from the primary portion of such public offering. (3) Shares of Class D common stock are only being offered pursuant to a private offering. The selling commissions and dealer manager fees are offering costs and are recorded as a reduction of additional paid in capital. Stock Transactions The stock transactions for each of our classes of common stock for the years ending December 31, 2021, 2020 and 2019 were as follows: Shares of Shares of Shares of Shares of Shares of Balance, December 31, 2018 71,187,722 39,869,130 11,083,034 9,738,086 6,270,479 Issuance of common stock 20,389,402 5,356,380 462,451 11,379,814 — Repurchase of shares (3,271,008) (4,889,772) (453,781) (73,227) (1,312,564) Stock based compensation — — — 11,298 — Balance, December 31, 2019 88,007,721 39,036,770 11,153,567 22,589,599 4,957,915 Issuance of common stock 13,533,380 2,453,336 314,149 12,417,353 — Repurchase of shares (11,333,773) (5,009,716) (1,878,636) (3,150,763) — Stock based compensation — — — 16,000 — Stock conversion (536,232) (868,234) 27,219 1,374,812 — Balance, December 31, 2020 89,671,096 35,612,156 9,616,299 33,247,001 4,957,915 Issuance of common stock 16,945,256 3,590,727 478,460 20,501,787 2,555,366 Repurchase of shares (6,327,886) (1,937,556) (738,450) (2,148,050) — Stock based compensation — — — 20,000 — Share conversions (250,104) (807,136) — 1,055,955 — Balance, December 31, 2021 100,038,362 36,458,191 9,356,309 52,676,693 7,513,281 Stock Issuances The stock issuances for our classes of shares, including those issued through our distribution reinvestment plan, for the years ending December 31, 2021, 2020 and 2019 were as follows: December 31, 2021 December 31, 2020 December 31, 2019 # of shares $ Amount # of shares $ Amount # of shares $ Amount Class A Shares 16,945,256 $ 210,810 13,533,380 $ 164,020 20,389,402 $ 250,822 Class M Shares 3,590,727 44,885 2,453,336 29,258 5,356,380 65,332 Class A-I Shares 478,460 6,077 314,149 3,736 462,451 5,674 Class M-I Shares 20,521,787 254,168 12,433,353 149,090 11,391,112 139,143 Class D Shares 2,555,366 30,000 — — — — Total $ 545,940 $ 346,104 $ 460,971 Share Repurchase Plan Our share repurchase plan allows stockholders, subject to a one-year holding period, with certain exceptions, to request that we repurchase all or a portion of their shares of common stock on a daily basis at that day's NAV per share, limited to 5% of aggregate Company NAV per quarter. We have made repurchases according to our share repurchase plan as following: Year ending December 31, Shares of Shares of Shares of Shares of Shares of Total Dollar of Repurchases 2019 3,271,008 4,889,772 453,781 73,227 1,312,564 $ 121,822 2020 11,333,773 5,009,716 1,878,636 3,150,763 — 255,355 2021 6,327,886 1,937,556 738,450 2,148,050 — 135,246 Distribution Reinvestment Plan Pursuant to our distribution reinvestment plan, holders of shares of any class of our common stock may elect to have their cash distributions reinvested in additional shares of our common stock at the NAV per share applicable to the class of shares being purchased on the distribution date. For the year ended December 31, 2021, we issued 4,726,012 shares of common stock for $59,133 under the distribution reinvestment plan. For the year ended December 31, 2020, we issued 5,653,314 shares of common stock for $66,990 under the distribution reinvestment plan. For the year ended December 31, 2019, we issued 4,133,544 shares of common stock for $50,309 under the distribution reinvestment plan. Operating Partnership Units For the year ended December 31, 2021, in connection with the acquisition of South San Diego Distribution Center, we issued 5,820,165 Class M-I OP Units to third parties for a total of $74,673. For the year ended December 31, 2020, in connection with the acquisition of Siena Suwanee Town Center, we issued 1,217,092 Class M-I OP Units to third parties for a total of $14,252. Each OP Unit is redeemable at the option of the holder after a hold period of one year. Holders of OP Units have certain redemption rights which enable them to cause our operating partnership to redeem their units in exchange for cash equal to the unit price upon exercising or for shares of our common stock. Earnings Per Share (“EPS”) Basic per share amounts are based on the weighted average of shares outstanding of 186,610,215, 170,613,298 and 151,179,459 for the years ended December 31, 2021, 2020 and 2019, respectively. We have no dilutive or potentially dilutive securities. We compute net income per share for Class A, Class M, Class A-I, Class M-I, and Class D common stock using the two-class method. Our Advisor may earn a performance fee ( see Note 9-Related Party Transactions ) which may impact the net income of each class of common stock differently. The calculated performance component for the years ended December 31, 2021, 2020 and 2019, and the impact on each class of common stock, are shown below. In periods where no performance fee is recognized in our Consolidated Statements of Operations and Comprehensive Income, the net income per share will be the same for each class of common stock. Basic and diluted net income per share for each class of common stock is computed using the weighted-average number of common shares outstanding during the period for each class of common stock. We have not issued any dilutive or potentially dilutive securities, and thus the basic and diluted net income per share for a given class of common stock is the same for each period presented. The following table sets forth the computation of basic and diluted net income per share for each of our Class A, Class M, Class A-I, Class M-I, and Class D common stock: Year Ended December 31, 2021 Class A Class M Class A-I Class M-I Class D Basic and diluted net income per share: Allocation of net income before performance fee $ 43,011 $ 16,231 $ 4,360 $ 18,960 $ 3,262 Allocation of performance fee 17,269 6,561 1,712 8,992 1,408 Total $ 25,742 $ 9,670 $ 2,648 $ 9,968 $ 1,854 Weighted average number of common shares outstanding 93,504,890 35,291,400 9,484,119 41,229,584 7,100,222 Basic and diluted net income per share: $ 0.28 $ 0.27 $ 0.28 $ 0.24 $ 0.26 Year Ended December 31, 2020 Class A Class M Class A-I Class M-I Class D Basic and diluted net loss per share: Allocation of net loss before performance fee $ (23,259) $ (9,465) $ (2,598) $ (7,405) $ (1,279) Allocation of performance fee — — — — — Total $ (23,259) $ (9,465) $ (2,598) $ (7,405) $ (1,279) Weighted average number of common shares outstanding 90,176,584 36,694,995 10,073,075 28,710,729 4,957,915 Basic and diluted net loss per share: $ (0.26) $ (0.26) $ (0.26) $ (0.26) $ (0.26) Year Ended December 31, 2019 Class A Class M Class A-I Class M-I Class D Basic and diluted net income per share: Allocation of net income before performance fee $ 52,118 $ 26,958 $ 7,315 $ 9,987 $ 3,555 Allocation of performance fee — — — — — Total $ 52,118 $ 26,958 $ 7,315 $ 9,987 $ 3,555 Weighted average number of common shares outstanding 78,844,620 40,782,711 11,066,621 15,108,522 5,376,985 Basic and diluted net income per share: $ 0.66 $ 0.66 $ 0.66 $ 0.66 $ 0.66 Distributions Declared The distributions declared per share for each of our classes of common stock for the years ended December 31, 2021, 2020 and 2019 were as follows: Distributions Distributions Paid (1) Record Date Declared Class A Class M Class A-I Class M-I Class D 3/24/2021 $ 0.13500 $ 0.11326 $ 0.12715 $ 0.12726 $ 0.13500 $ 0.13500 6/24/2021 0.13500 0.11294 0.12696 0.12710 0.13500 0.13500 9/24/2021 0.13500 0.11189 0.12666 0.12644 0.13500 0.13500 12/23/2021 0.13500 0.11092 0.12637 0.12675 0.13500 0.13500 Total $ 0.54000 $ 0.44901 $ 0.50714 $ 0.50755 $ 0.54000 $ 0.54000 Distributions Distributions Paid (1) Record Date Declared Class A Class M Class A-I Class M-I Class D 3/25/2020 $ 0.13500 $ 0.11211 $ 0.12649 $ 0.12681 $ 0.13500 $ 0.13500 6/24/2020 0.13500 0.11239 0.12683 0.12753 0.13500 0.13500 9/24/2020 0.13500 0.11282 0.12661 0.12632 0.13500 0.13500 12/23/2020 0.13500 0.11280 0.12719 0.12715 0.13500 0.13500 Total $ 0.54000 $ 0.45012 $ 0.50712 $ 0.50781 $ 0.54000 $ 0.54000 Distributions Distributions Paid (1) Record Date Declared Class A Class M Class A-I Class M-I Class D 3/28/2019 $ 0.13500 $ 0.11216 $ 0.12662 $ 0.12653 $ 0.13500 $ 0.13500 6/27/2019 0.13500 0.11214 0.12643 0.12653 0.13500 0.13500 9/27/2019 (2) 0.17500 0.15184 0.16642 0.16660 0.17500 0.17500 12/30/2019 0.13500 0.11189 0.12600 0.12674 0.13500 0.13500 Total $ 0.58000 $ 0.48803 $ 0.54547 $ 0.54640 $ 0.58000 $ 0.58000 ________ (1) Distributions paid are net of dealer manager fees applicable to each share class. (2) Includes a special dividend of $0.04 per share. Organization and Offering Costs |
DST Program (Notes)
DST Program (Notes) | 12 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
DST Program | DST PROGRAM On October 16, 2019, we, through our operating partnership, initiated the DST Program, and on August 10, 2021, our board of directors approved an increase to raise up to a total of $1,000,000 in private placements through the sale of beneficial interests in specific Delaware statutory trusts (“DST”) holding DST Properties, which may be sourced from our existing portfolio or from newly acquired properties sourced from third parties. Each DST Property will be leased back by a wholly owned subsidiary of our operating partnership on a long-term basis of up to ten years pursuant to a master lease agreement. The master lease agreements are expected to be guaranteed by our operating partnership. As compensation for the master lease guarantee, our operating partnership will retain a fair market value purchase option giving it the right, but not the obligation, to acquire the beneficial interests in the DST from the investors at any time after two years from the closing of the applicable DST offering in exchange for OP Units or cash, at our discretion. The sale of beneficial interests in the DST Property will be accounted for as a failed sale-leaseback transaction due to the fair market value purchase option retained by the operating partnership and as such, the property will remain on our books and records. The proceeds received from each DST offering will be accounted for as a financing obligation on the Consolidated Balance Sheets. Upfront costs incurred for services provided to the DST totaling $449 are accounted for as deferred loan costs and are netted against the financing obligation. Under the master lease, we are responsible for subleasing the DST Property to tenants, for covering all costs associated with operating the underlying DST Property, and for paying base rent to the DST that owns such property. For financial reporting purposes (and not for income tax purposes), the DST Properties are included in our consolidated financial statements, with the master lease rent payments accounted for using the interest method whereby a portion is accounted for as interest expense and a portion is accounted for as a reduction of the outstanding principal balance of the financing obligation. During the years ended December 31, 2021 and 2020 we recorded non-cash interest expense related to the master lease in the amounts of $8,603 and $1,271, respectively. Upon the determination that it is probable that we will exercise the fair market value purchase option, we will recognize additional interest expense or interest income to the financing obligation to account for the difference between the fair value of the property and the outstanding liabilities. During the year ended December 31, 2021, we determined that certain properties were probable for exercising the fair market value purchase option and recorded additional non-cash interest expense of $1,987. We will remeasure the fair value of these properties at each balance sheet date and adjust the non-cash interest expense recognized over the remaining term of the master lease for any changes in fair value. If we elect to repurchase the property prior to the maturity date of the master lease, we will record the difference between the repurchase amount and the financial obligation as additional non-cash interest expense in the period of repurchase. For financial reporting purposes, the rental revenues and rental expenses associated with the underlying property of each master lease are included in the respective line items on our Consolidated Statements of Operations and Comprehensive Income. The net amount we receive from the underlying DST Properties may be more or less than the amount we pay to the investors in the specific DST and could fluctuate over time. As of December 31, 2021, we sold approximately $454,090 of interests related to the DST Program. As of December 31, 2021, the following properties are included in our DST Program: • The Reserve at Johns Creek, • Summit at San Marcos, • Mason Mill Distribution Center, • San Juan Medical Center, • The Penfield, • Milford Crossing, • Villas at Legacy, • Montecito Marketplace, • Whitestown Distribution Center, • Louisville Airport Distribution Center, • The Preserve at the Meadows, • The Rockwell and • 9101 Stony Point Drive. |
Rentals Under Operating Leases
Rentals Under Operating Leases | 12 Months Ended |
Dec. 31, 2021 | |
Leases [Abstract] | |
Lessor, Operating Leases | RENTALS UNDER OPERATING LEASES We receive rental income from operating leases. The minimum future rentals from consolidated properties, excluding those classified as held for sale, based on operating leases in place at December 31, 2021 are as follows: Year Amount 2022 $ 193,511 2023 150,970 2024 128,099 2025 115,781 2026 100,469 Thereafter 372,690 Total $ 1,061,520 Minimum future rentals do not include amounts payable by certain tenants based upon a percentage of their gross sales or as reimbursement of property operating expenses. During the years ended December 31, 2021, 2020 and 2019, no individual tenant accounted for greater than 10% of minimum base rents. The majority of the decrease in rents from 2022 future rents to 2023 is related to our residential properties which generally have a one year lease life. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2021 | |
Related Party Transaction, Due from (to) Related Party [Abstract] | |
RELATED PARTY TRANSACTIONS | RELATED PARTY TRANSACTIONS Pursuant to the Advisory Agreement with LaSalle, we pay a fixed advisory fee of 1.25% of our NAV calculated daily. The Advisory Agreement allows for a performance fee to be earned for each share class based on the total return of that share class during the calendar year. The performance fee is calculated as 10% of the return in excess of 7% per annum. The term of our Advisory Agreement expires June 5, 2022, subject to an unlimited number of successive one-year renewals. The fixed advisory fees for the years ended December 31, 2021, 2020 and 2019 were $28,956, $25,274 and $23,026, respectively. The performance fees for the years ended December 31, 2021, 2020 and 2019 were $36,711, $0 and $0, respectively. Included in Advisor fees payable for the year ended December 31, 2021 and 2020 were $2,998 and $2,122 of fixed fee expense, respectively and $36,711 and $0 of performance fee expenses, respectively. We pay Jones Lang LaSalle Americas, Inc. (“JLL Americas”), an affiliate of the Advisor, for property management, leasing, mortgage brokerage and sales brokerage services performed at various properties we own. For the years ended December 31, 2021, 2020 and 2019, JLL Americas was paid $1,222, $741 and $1,608, respectively, for property management and leasing services. During the year ended December 31, 2021, we paid JLL Americas $209 in mortgage brokerage fees related to the mortgage notes payable for Louisville Airport Distribution Center and $162 in mortgage brokerage fees related to the mortgage payable for Townlake of Coppell. During the year ended December 31, 2020, we paid JLL Americas $75 in brokerage fees for the sale of 24823 Anza Drive and $133 in mortgage brokerage fees related to the mortgage note payable for Villas at Legacy. During the year ended December 31, 2019, we paid JLL Americas $203 in mortgage brokerage fees related to the mortgage note payable for Stonemeadow Farms and $146 in mortgage brokerage fees related to the mortgage note payable for Presley Uptown. We pay the Dealer Manager selling commissions and dealer manager fees in connection with our offerings. For the years ended December 31, 2021, 2020 and 2019, we paid the Dealer Manager selling commissions and dealer manager fees totaling $12,246, $11,303 and $12,203, respectively. A majority of the selling commissions and dealer manager fees are reallowed to participating broker-dealers. Included in accrued offering costs at December 31, 2021 and 2020 were $135,663 and $105,770 of future dealer manager fees payable, respectively. As of December 31, 2021 and 2020, we owed $2,113 and $1,138, respectively, for organization and offering costs paid by LaSalle ( see Note 6-Common Stock ). These costs are included in Accrued offering costs. LaSalle Investment Management Distributors, LLC also serves as the dealer manager for the DST Program on a “best efforts” basis. Our taxable REIT subsidiary, which is a wholly owned subsidiary of our operating partnership, will pay the dealer manager upfront selling commissions, upfront dealer manager fees and placement fees of up to 5.0%, 1.0% and 1.0%, respectively, of the gross purchase price per unit of beneficial interest sold in the DST Program. All upfront selling commissions and upfront dealer manager fees are reallowed to participating broker-dealers. For the year ended December 31, 2021 and 2020, our taxable REIT subsidiary paid $5,697 and $1,917, respectively, to the Dealer Manager. In addition, the dealer manager may receive an ongoing investor servicing fee that is calculated daily on a continuous basis from year to year equal to 1/365th of (a) 0.25% of the NAV of each outstanding unit of beneficial interest for such day, payable by the DSTs; (b) 0.85% of the NAV of each outstanding Class A OP Unit, 0.30% of the NAV of each outstanding Class M OP Unit and 0.30% of the NAV of each outstanding Class A-I OP Unit for such day issued in connection with the FMV Option, payable by our operating partnership; and (c) 0.85% of the NAV of each outstanding Class A share, 0.30% of the NAV of each outstanding Class M share and 0.30% of the NAV of each outstanding Class A-I share for such day issued in connection with the Redemption Right, payable by us. The investor servicing fee may continue for so long as the investor in the DST Program holds beneficial interests, Class A, Class M, and Class A-I OP Units or Class A, Class M and Class A-I shares that were issued in connection with the DST Program. No investor servicing fee will be paid on Class M-I OP Units or Class M-I shares. For the year ended December 31, 2021 and 2020, the DSTs paid $754 and $100, respectively, in investor servicing fees to the Dealer Manager in connection with the DST Program. LaSalle also serves as the manager for the DST Program. Each DST may pay the manager a management fee equal to a to-be-agreed upon percentage of the total equity of such DST. For the years ended December 31, 2021 and 2020, the DSTs paid $463 and $62, respectively, in management fees to our Advisor in connection with the DST Program. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES We are involved in various claims and litigation matters arising in the ordinary course of business, some of which involve claims for damages. Many of these matters are covered by insurance, although they may nevertheless be subject to deductibles or retentions. Although the ultimate liability for these matters cannot be determined, based upon information currently available, we believe the ultimate resolution of such claims and litigation will not have a material adverse effect on our financial position, results of operations or liquidity. From time to time, we have entered into contingent agreements for the acquisition and financing of properties. Such acquisitions and financings are subject to satisfactory completion of due diligence or meeting certain leasing or occupancy thresholds. We are subject to fixed ground lease payments on South Beach Parking Garage of $112 per year until September 30, 2024, which will increase every five years thereafter by the lesser of 12% or the cumulative CPI over the previous five year period. We are also subject to a variable ground lease payment calculated as 2.5% of revenue. The lease expires September 30, 2041 and has a ten-year renewal option. The operating agreement for Presley Uptown allows the unrelated third party joint venture partner, owning a 2.5% interest, to put its interest to us at a market determined value starting September 30, 2022 through September 30, 2024. The operating agreement for 237 Via Vera Cruz, 13500 Danielson Street, 4211 Starboard Drive, 2840 Loker Avenue and 15890 Bernardo Center Drive allows the unrelated third party joint venture partner, owning a 5% interest, to put its interest to us at a market determined value starting July 31, 2024. |
Segment Reporting
Segment Reporting | 12 Months Ended |
Dec. 31, 2021 | |
Segment Reporting [Abstract] | |
Segment Reporting Disclosure [Text Block] | SEGMENT REPORTING We have five operating segments: industrial, office, residential, retail and other properties. Consistent with how we review and manage our properties, the financial information summarized below is presented by operating segment and reconciled to income from operations for the years ended December 31, 2021, 2020 and 2019: Year Ended December 31, 2021 Industrial Office Residential Retail Other Total Assets $ 1,352,580 $ 479,306 $ 1,301,454 $ 564,565 $ 23,412 $ 3,721,317 Capital expenditures by segment $ 17,165 $ 4,284 $ 6,196 $ 3,212 $ 16 $ 30,873 Revenues: Rental revenue $ 71,719 $ 33,178 $ 74,378 $ 48,286 $ 379 $ 227,940 Other revenue 367 1,792 5,534 1,117 2,588 11,398 Total revenues $ 72,086 $ 34,970 $ 79,912 $ 49,403 $ 2,967 $ 239,338 Operating expenses: Real estate taxes $ 10,505 $ 3,394 $ 12,500 $ 5,979 $ 459 $ 32,837 Property operating 5,783 6,865 22,619 7,973 755 43,995 Total segment operating expenses $ 16,288 $ 10,259 $ 35,119 $ 13,952 $ 1,214 $ 76,832 Reconciliation to net income Property general and administrative 1,596 Advisor fees 65,667 Company level expenses 4,841 Provision for impairment of real estate 1,822 Depreciation and amortization 94,051 Total operating expenses $ 244,809 Other income and (expenses): Interest expense $ (48,230) Loss from unconsolidated real estate affiliates and fund investment 67,333 Investment income on marketable securities 418 Net realized gain upon sale of marketable securities 247 Net unrealized change in fair value of investment in marketable securities 2,933 Loss on disposition of property and extinguishment of debt 33,422 Total other income and (expenses) $ 56,123 Net income $ 50,652 Reconciliation to total consolidated assets as of December 31, 2021 Assets per reportable segments (1) $ 3,721,317 Investment in unconsolidated real estate affiliates, real estate fund investment and corporate level assets 680,929 Total consolidated assets $ 4,402,246 ________ (1) Includes $39,326 of Industrial and Residential segment assets classified as held for sale as of December 31, 2021. Year Ended December 31, 2020 Industrial Office Residential Retail Other Total Assets $ 659,870 $ 277,556 $ 788,060 $ 577,588 $ 22,134 $ 2,325,208 Capital expenditures by segment $ 4,673 $ 2,589 $ 4,346 $ 1,803 $ 119 $ 13,530 Revenues: Rental revenue $ 49,743 $ 27,239 $ 63,948 $ 45,417 $ 294 $ 186,641 Other revenue 323 1,313 3,474 572 1,298 6,980 Total revenues $ 50,066 $ 28,552 $ 67,422 $ 45,989 $ 1,592 $ 193,621 Operating expenses: Real estate taxes $ 8,218 $ 3,396 $ 11,476 $ 6,193 $ 382 $ 29,665 Property operating 4,121 5,938 19,643 7,583 714 37,999 Total segment operating expenses $ 12,339 $ 9,334 $ 31,119 $ 13,776 $ 1,096 $ 67,664 Reconciliation to net income Property general and administrative 4,318 Advisor fees 25,274 Company level expenses 2,936 Depreciation and amortization 75,603 Total operating expenses $ 175,795 Other income and (expenses): Interest expense $ (40,668) Loss from unconsolidated real estate affiliates and fund investments (19,451) Loss on disposition of property and extinguishment of debt (1,772) Total other income and (expenses) $ (61,891) Net loss $ (44,065) Reconciliation to total consolidation assets as of December 31, 2020 Assets per reportable segments $ 2,325,208 Investment in unconsolidated real estate affiliates, real estate fund investment and corporate level assets 333,391 Total consolidated assets $ 2,658,599 Year Ended December 31, 2019 Industrial Office Residential Retail Other Total Capital expenditures by segment $ 5,162 $ 584 $ 7,510 $ 6,602 $ 16 $ 19,874 Revenues: Rental revenue $ 45,166 $ 18,918 $ 57,069 $ 45,699 $ 318 $ 167,170 Other income 469 529 3,179 728 2,204 7,109 Total revenues $ 45,635 $ 19,447 $ 60,248 $ 46,427 $ 2,522 $ 174,279 Operating expenses: Real estate taxes $ 7,395 $ 1,985 $ 10,120 $ 5,063 $ 449 $ 25,012 Property operating 3,701 3,677 16,465 7,117 823 31,783 Total segment operating expenses $ 11,096 $ 5,662 $ 26,585 $ 12,180 $ 1,272 $ 56,795 Reconciliation to net income Property general and administrative 1,659 Advisor fees 23,026 Company level expenses 3,201 Depreciation and amortization 67,348 Total operating expenses $ 152,029 Other income and (expenses): Interest expense $ (36,185) Income from unconsolidated real estate affiliates and fund investments 7,066 Gain on disposition of property and extinguishment of debt 106,871 Total other income and (expenses) $ 77,752 Net income $ 100,002 |
Comprehensive Text Block List
Comprehensive Text Block List | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure | NOTE 12—INVESTMENT IN MARKETABLE SECURITIES The following is a summary of our investment in marketable securities held as of December 31, 2021, which consisted entirely of stock of publicly traded REITs. December 31, 2021 Investment in marketable securities - cost $ 40,273 Unrealized gains 3,161 Unrealized losses (228) Net unrealized gain 2,933 Investment in marketable securities - fair value $ 43,206 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | SUBSEQUENT EVENTS On January 6, 2022, we sold Norfleet Distribution Center, a 702,000 square foot industrial property located in Kansas City, Missouri for approximately $60,375 less closing costs. We recorded a gain on the sale of the property in the amount of approximately $34,000. On January 24, 2022, we sold The Edge at Lafayette, a 207,000 square foot student housing apartment property located in Lafayette, Louisiana for approximately $16,500 less closing costs. On February 28, 2022, our board of directors approved a gross dividend for the first quarter of 2021 of $0.14 per share to stockholders and OP Unit holders of record as of March 24, 2022. The dividend will be paid on or around March 30, 2022. Class A, Class M, Class A-I, Class M-I and Class D stockholders and Class M-I OP Unit holders will receive $0.14 per share or OP Unit, less applicable class-specific fees, if any. * * * * * * |
Schedule III - Real Estate and
Schedule III - Real Estate and Accumulated Depreciation (Notes) | 12 Months Ended |
Dec. 31, 2021 | |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract] | |
Real Estate and Accumulated Depreciation Disclosure [Text Block] | Schedule III—Real Estate and Accumulated Depreciation as of December 31, 2021 Col. A Col. B Col. C Col. D Col. E Description Encumbrances Initial Cost Costs Capitalized Gross Amounts at which Total Land Building Land Building Carrying Land Building Industrial Properties: Kendall Distribution Center—Atlanta, GA — 2,656 12,836 (293) 279 — 2,363 13,115 15,478 Suwanee Distribution Center—Suwanee, GA — 6,155 27,598 — 68 — 6,155 27,666 33,821 Grand Prairie Distribution Center—Grand Prairie, TX — 2,100 12,478 — 404 — 2,100 12,882 14,982 Charlotte Distribution Center—Charlotte, NC 9,341 5,381 15,002 — 372 — 5,381 15,374 20,755 4050 Corporate Drive—Grapevine, TX 12,147 5,200 18,327 — 1,357 — 5,200 19,684 24,884 4055 Corporate Drive—Grapevine, TX 5,573 2,400 12,377 — 1,566 — 2,400 13,943 16,343 2501-2575 Allan Drive—Elk Grove, IL — 4,300 10,926 — 661 — 4,300 11,587 15,887 2601-2651 Allan Drive—Elk Grove, IL — 2,600 7,726 — 179 — 2,600 7,905 10,505 1300 Michael Drive—Wood Dale, IL — 1,900 6,770 — 380 — 1,900 7,150 9,050 1350 Michael Drive—Wood Dale, IL — 1,500 5,059 — 283 — 1,500 5,342 6,842 1225 Michael Drive—Wood Dale, IL — 2,600 7,149 — 127 — 2,600 7,276 9,876 200 Lewis Drive—Wood Dale, IL — 1,100 4,165 — 478 — 1,100 4,643 5,743 1301-1365 Mittel Boulevard—Chicago, IL — 2,700 5,473 — 141 — 2,700 5,614 8,314 Tampa Distribution Center- Tampa, FL — 3,507 22,485 — 84 — 3,507 22,569 26,076 Aurora Distribution Center- Aurora, IL 13,441 9,861 14,646 — — — 9,861 14,646 24,507 28150 West Harrison Parkway- Valencia, CA — 2,760 8,899 — 279 — 2,760 9,178 11,938 28145 West Harrison Parkway- Valencia, CA — 3,468 10,111 — 20 — 3,468 10,131 13,599 28904 Avenue Paine- Valencia, CA — 3,812 10,535 — 428 — 3,812 10,963 14,775 25045 Avenue Tibbitts- Santa Clarita, CA — 4,087 13,224 — 288 — 4,087 13,512 17,599 6000 Giant Road- Richmond, CA — 11,572 26,556 — 31 — 11,572 26,587 38,159 6015 Giant Road- Richmond, CA — 10,468 24,127 — (1,004) — 10,468 23,123 33,591 6025 Giant Road- Richmond, CA — 2,700 4,167 — 497 — 2,700 4,664 7,364 Mason Mill Distribution Center—Buford, GA 17,500 3,406 23,312 — (123) — 3,406 23,189 26,595 Fremont Distribution Center - Fremont, CA — 29,427 7,024 — 1,782 — 29,427 8,806 38,233 3324 Trinity Boulevard - Grand Prairie, TX — 3,215 11,255 — (13) — 3,215 11,242 14,457 Taunton Distribution Center - Taunton, MA — 2,000 21,589 — 220 — 2,000 21,809 23,809 Chandler Distribution Center - Chandler, AZ — 3,803 24,095 — 272 — 3,803 24,367 28,170 Fort Worth Distribution Center--Fort Worth, TX — 3,059 21,053 — 1,296 — 3,059 22,349 25,408 4993 Anson Boulevard--Whitestown, IN 17,000 2,197 20,224 — (59) — 2,197 20,165 22,362 5102 E 500 South--Whitestown, IN 17,000 3,460 28,049 — (80) — 3,460 27,969 31,429 Louisville Distribution Center—Shepherdsville, KY 52,250 9,028 66,792 — 4,161 — 9,028 70,953 79,981 6511 West Frye Road—Chandler, AZ 12,250 2,102 15,511 — 1,654 — 2,102 17,165 19,267 6565 West Frye Road—Chandler, AZ 12,250 2,451 18,807 — — — 2,451 18,807 21,258 6615 West Frye Road—Chandler, AZ 12,250 2,799 18,030 — — — 2,799 18,030 20,829 Col. A Col. B Col. C Col. D Col. E Description Encumbrances Initial Cost Costs Capitalized Gross Amounts at which Total Land Building Land Building Carrying Land Building 6677 West Frye Road—Chandler, AZ 12,250 2,451 18,662 — 37 — 2,451 18,699 21,150 5 National Way—Durham, NC — 6,846 21,233 — 490 — 6,846 21,723 28,569 47 National Way—Durham, NC — 6,840 20,401 — 2,103 — 6,840 22,504 29,344 South San Diego Distribution Center—San Diego, CA 72,500 18,496 123,682 — — — 18,496 123,682 142,178 2451 Bath Road—Elgin, IL — 4,247 26,182 — (63) — 4,247 26,119 30,366 1755 Britannia Drive—Elgin, IL — 1,046 10,522 — (16) — 1,046 10,506 11,552 687 Conestoga Parkway—Shepardsville, KY — 2,462 33,393 — — — 2,462 33,393 35,855 Louisville Airport Distribution Center(2)—Louisville, KY — 2,843 26,812 — — — 2,843 26,812 29,655 Friendship Distribution Center-Buford, GA — 7,082 80,654 — 4 — 7,082 80,658 87,740 13500 Danielson Street-Poway, CA 10,990 7,624 11,503 — 54 — 7,624 11,557 19,181 237 Via Vera Cruz-San Marcos, CA 11,880 5,421 8,581 — 39 — 5,421 8,620 14,041 4211 Starboard-Fremont, CA 20,612 13,409 13,872 — 92 — 13,409 13,964 27,373 2840 Loker Avenue-Carlsbad, CA 14,316 7,631 16,030 — 73 — 7,631 16,103 23,734 15890 Bernardo Center Drive-San Diego, CA 8,702 2,316 11,715 — 38 — 2,316 11,753 14,069 Total Industrial Properties 332,252 248,488 979,619 (293) 18,879 — 248,195 998,498 1,246,693 Office Properties: Monument IV at Worldgate—Herndon, VA — 5,186 57,013 — 20,014 — 5,186 77,027 82,213 140 Park Avenue—Florham Park, NJ — 3,162 34,784 — (4) — 3,162 34,780 37,942 San Juan Medical Center- San Juan Capistrano, CA 16,730 9,807 13,303 — 1,129 — 9,807 14,432 24,239 Genesee Plaza - San Deigo, CA 39,285 8,222 73,964 — 676 — 8,222 74,640 82,862 Fountainhead Corporate Park--Tempe, AZ — 5,942 36,301 — 4,246 — 5,942 40,547 46,489 170 Park Avenue-Florham Park, NJ — 4,612 38,337 — 3 — 4,612 38,340 42,952 South Reno Medical Center-Reno, NV — 1,029 9,882 — — — 1,029 9,882 10,911 North Tampa Surgery Center-Odessa, FL — 1,227 5,069 — (4) — 1,227 5,065 6,292 1203 SW 7 Highway-Blue Springs, MO — 171 2,355 — — — 171 2,355 2,526 8600 NE 82nd Street-Kansas City, MO — 143 3,519 — — — 143 3,519 3,662 Sugar Land Medical Office-Sugar Land, TX — 2,449 9,943 — (20) — 2,449 9,923 12,372 Roeland Park Medical Office-Roeland Park, KS — 1,057 8,182 — — — 1,057 8,182 9,239 Durham Medical Center-Durham, NC — 974 29,575 — — — 974 29,575 30,549 9101 Stony Point Drive(2)--Richmond, VA — 3,980 37,939 — — — 3,980 37,939 41,919 Total Office Properties 56,015 47,961 360,166 — 26,040 — 47,961 386,206 434,167 Residential Properties: Townlake of Coppell—Coppell, TX 36,030 8,444 36,805 — 3,175 — 8,444 39,980 48,424 AQ Rittenhouse—Philadelphia, PA 26,370 11,000 39,963 — (182) — 11,000 39,781 50,781 Col. A Col. B Col. C Col. D Col. E Description Encumbrances Initial Cost Costs Capitalized Gross Amounts at which Total Land Building Land Building Carrying Land Building Lane Park Apartments—Mountain Brook, AL 37,000 5,100 66,428 — 934 — 5,100 67,362 72,462 Dylan Point Loma—San Diego, CA 40,319 19,000 70,860 — (527) — 19,000 70,333 89,333 The Penfield—St. Paul, MN 35,500 8,021 52,713 — 1,238 — 8,021 53,951 61,972 180 North Jefferson—Chicago, IL 45,000 18,588 75,435 — 8,280 — 18,588 83,715 102,303 Jory Trail at the Grove—Wilsonville, OR 42,793 7,877 64,369 — 4,330 — 7,877 68,699 76,576 The Reserve at Johns Creek Walk—Johns Creek, GA 26,000 7,552 38,025 — 839 — 7,552 38,864 46,416 Villas at Legacy—Plano, TX 29,500 6,888 48,504 — 3,759 — 6,888 52,263 59,151 Stonemeadow Farms - Bothell, WA 44,722 14,000 65,535 — 1,952 — 14,000 67,487 81,487 Summit at San Marcos - Chandler, AZ 35,900 6,401 63,335 — 37 — 6,401 63,372 69,773 Presley Uptown - Charlotte, NC 30,000 7,390 46,479 — 259 — 7,390 46,738 54,128 Princeton North Andover-North Andover, MA 39,900 8,140 63,156 — 106 — 8,140 63,262 71,402 The Preserve at the Meadows (2)-- Fort Collins, CO 32,400 9,656 53,870 — 52 — 9,656 53,922 63,578 The Rockwell (2)-- Berlin, MA 46,310 7,501 75,403 — 4 — 7,501 75,407 82,908 Miramont-Fort Collins, CO 27,629 9,217 49,005 — 23 — 9,217 49,028 58,245 Pinecone-Fort Collins, CO 25,355 8,558 43,833 — 30 — 8,558 43,863 52,421 Reserve at Venice-North Venice, FL — 5,500 86,125 — — — 5,500 86,125 91,625 Woodside Trumbull-Trumbull, CT — 4,654 91,755 — — — 4,654 91,755 96,409 Total Residential Properties 600,728 173,487 1,131,598 — 24,094 — 173,487 1,155,907 1,329,394 Retail Properties: The District at Howell Mill—Atlanta, GA 28,858 10,000 56,040 — 6,179 — 10,000 62,219 72,219 Grand Lakes Marketplace—Katy, TX 23,900 5,215 34,770 — 87 — 5,215 34,857 40,072 Oak Grove Plaza—Sachse, TX 8,915 4,434 18,869 — 832 — 4,434 19,701 24,135 Rancho Temecula Town Center—Temecula, CA 28,000 14,600 41,180 — 1,079 — 14,600 42,259 56,859 Skokie Commons—Skokie, IL 23,627 8,859 25,705 890 183 — 9,749 25,888 35,637 Whitestone Market—Austin, TX 25,750 7,000 39,868 — 534 — 7,000 40,402 47,402 Maui Mall—Maui, HI 36,322 44,257 39,454 — 11,210 — 44,257 50,664 94,921 Silverstone Marketplace—Scottsdale, AZ — 8,012 33,771 — 220 — 8,012 33,991 42,003 Kierland Village Center—Scottsdale, AZ — 7,037 26,693 — 326 — 7,037 27,019 34,056 Timberland Town Center—Beaverton, OR 20,253 6,083 33,826 — 444 — 6,083 34,270 40,353 Montecito Marketplace—Las Vegas, NV — 11,410 45,212 — 352 — 11,410 45,564 56,974 Milford Crossing--Milford, MA — 1,124 30,869 — (163) — 1,124 30,706 31,830 Total Retail Properties 195,625 128,031 426,257 890 21,283 — 128,921 447,540 576,461 Other Properties: South Beach Parking Garage—Miami, FL — — 21,467 — 741 — — 22,208 22,208 Total Other Properties — — 21,467 — 741 — — 22,208 22,208 Col. A Col. B Col. C Col. D Col. E Description Encumbrances Initial Cost Costs Capitalized Gross Amounts at which Total Land Building Land Building Carrying Land Building Total Consolidated Properties: $ 1,184,620 $ 597,967 $ 2,919,107 $ 597 $ 91,037 $ — $ 598,564 $ 3,010,359 $ 3,608,923 Properties Held for Sale: The Edge at Lafayette—Lafayette, LA — 1,782 23,266 (182) (8,741) — 1,600 14,525 16,125 Norfleet Distribution Center—Kansas City, MO — 2,134 31,397 (205) (1,914) — 1,929 29,483 31,412 Total Properties Held for Sale $ — $ 3,916 $ 54,663 $ (387) $ (10,655) $ — $ 3,529 $ 44,008 $ 47,537 The unaudited aggregate cost and accumulated depreciation for tax purposes was approximately $2,330,580 and $301,026, respectively. (1) Includes net provisions for impairment of real estate taken since acquisition of property. Col. A Col. F Col. G Col. H Col. I Description Accumulated Date of Date of Life on which depreciation in latest income statement is computed Industrial Properties: Kendall Distribution Center—Atlanta, GA (4,345) 2002 6/30/2005 50 years Suwanee Distribution Center—Suwanee, GA (4,712) 2012 6/28/2013 50 years Grand Prairie Distribution Center—Grand Prairie, TX (2,056) 1980 12/18/2013 40 years Charlotte Distribution Center—Charlotte, NC (2,919) 2013 1/22/2014 50 years 4050 Corporate Drive—Grapevine, TX (3,095) 1991 6/27/2014 40 years 4055 Corporate Drive—Grapevine, TX (2,465) 1996 4/15/2015 40 years 2501-2575 Allan Drive—Elk Grove, IL (1,841) 1996 4/15/2015 40 years 2601-2651 Allan Drive—Elk Grove, IL (1,286) 1985 9/30/2015 40 years 1300 Michael Drive—Wood Dale, IL (1,119) 1985 9/30/2015 40 years 1350 Michael Drive—Wood Dale, IL (856) 1985 9/30/2015 40 years 1225 Michael Drive—Wood Dale, IL (1,134) 1985 9/30/2015 40 years 200 Lewis Drive—Wood Dale, IL (1,035) 1985 9/30/2015 40 years 1301-1365 Mittel Boulevard—Chicago, IL (879) 1985 9/30/2015 40 years Tampa Distribution Center- Tampa, FL (3,267) 1985 9/30/2015 40 years Aurora Distribution Center- Aurora, IL (1,635) 2009 4/11/2016 40 years 28150 West Harrison Parkway- Valencia, CA (1,235) 2016 5/19/2016 50 years 28145 West Harrison Parkway- Valencia, CA (1,407) 1997 6/29/2016 40 years 28904 Avenue Paine- Valencia, CA (1,527) 1997 6/29/2016 40 years 25045 Avenue Tibbitts- Santa Clarita, CA (1,898) 1988 6/29/2016 40 years 6000 Giant Road- Richmond, CA (2,834) 1988 6/29/2016 40 years 6015 Giant Road- Richmond, CA (2,463) 2016 9/8/2016 50 years 6025 Giant Road- Richmond, CA (473) 2016 9/8/2016 50 years Mason Mill Distribution Center—Buford, GA (1,861) 2016 12/29/2016 50 years Fremont Distribution Center - Fremont, CA (797) 1991 3/29/2019 40 years 3324 Trinity Boulevard - Grand Prairie, TX (726) 2015 5/31/2019 40 years Taunton Distribution Center - Taunton, MA (1,094) 2016 8/23/2019 50 years Chandler Distribution Center - Chandler, AZ (1,022) 2016 12/5/2019 50 years Fort Worth Distribution Center--Fort Worth, TX (512) 2020 10/23/2020 50 years 4993 Anson Boulevard--Whitestown, IN (437) 2020 12/11/2020 50 years 5102 E 500 South--Whitestown, IN (606) 2020 12/11/2020 50 years Louisville Distribution Center—Shepherdsville, KY (1,544) 2020 1/21/2021 50 years 6511 West Frye Road—Chandler, AZ (338) 2019 2/23/2021 50 years 6565 West Frye Road—Chandler, AZ (313) 2019 2/23/2021 50 years 6615 West Frye Road—Chandler, AZ (301) 2019 2/23/2021 50 years 6677 West Frye Road—Chandler, AZ (312) 2019 2/23/2021 50 years 5 National Way—Durham, NC (106) 2020 9/28/2021 50 years 47 National Way—Durham, NC (102) 2020 9/28/2021 50 years South San Diego Distribution Center—San Diego, CA (497) 2020 10/28/2021 40 years Col. A Col. F Col. G Col. H Col. I Description Accumulated Date of Date of Life on which depreciation in latest income statement is computed 2451 Bath Road—Elgin, IL (87) 2020 11/16/2021 50 years 1755 Britannia Drive—Elgin, IL (35) 2020 11/16/2021 50 years 687 Conestoga Parkway—Shepardsville, KY (56) 2021 11/17/2021 50 years Louisville Airport Distribution Center(2)—Louisville, KY (268) 2020 6/24/2021 50 years Friendship Distribution Center-Buford, GA (269) 2020 10/20/2021 50 years 13500 Danielson Street-Poway, CA (108) 1997 7/2/2021 40 years 237 Via Vera Cruz-San Marcos, CA (144) 1987 7/2/2021 40 years 4211 Starboard-Fremont, CA (174) 1997 7/9/2021 40 years 2840 Loker Avenue-Carlsbad, CA (34) 1998 11/30/2021 40 years 15890 Bernardo Center Drive-San Diego, CA (24) 1991 11/30/2021 40 years Total Industrial Properties (56,248) Office Properties: Monument IV at Worldgate—Herndon, VA (33,092) 2001 8/27/2004 50 years 140 Park Avenue—Florham Park, NJ (4,174) 2015 12/21/2015 50 years San Juan Medical Center- San Juan Capistrano, CA (1,827) 2015 4/1/2016 50 years Genesee Plaza - San Deigo, CA (4,758) 1983 7/2/2019 40 years Fountainhead Corporate Park--Tempe, AZ (1,999) 1985 2/6/2020 40 years 170 Park Avenue-Florham Park, NJ (904) 1998 2/2/2021 40 years South Reno Medical Center-Reno, NV — 2004 12/28/2021 40 years North Tampa Surgery Center-Odessa, FL (25) 2021 10/8/2021 50 years 1203 SW 7 Highway-Blue Springs, MO — 2021 12/23/2021 40 years 8600 NE 82nd Street-Kansas City, MO — 2021 12/23/2021 50 years Sugar Land Medical Office-Sugar Land, TX — 2020 12/30/2021 50 years Roeland Park Medical Office-Roeland Park, KS — 2021 12/28/2021 50 years Durham Medical Center-Durham, NC — 2010 12/23/2021 40 years 9101 Stony Point Drive(2)--Richmond, VA (253) 2018 9/15/2021 50 years Total Office Properties (47,032) Residential Properties: Townlake of Coppell—Coppell, TX (7,703) 1986 5/22/2015 40 years AQ Rittenhouse—Philadelphia, PA (5,232) 2015 7/30/2015 50 years Lane Park Apartments—Mountain Brook, AL (7,868) 2014 5/26/2016 50 years Dylan Point Loma—San Diego, CA (7,696) 2016 8/9/2016 50 years The Penfield—St. Paul, MN (6,182) 2013 9/22/2016 50 years 180 North Jefferson—Chicago, IL (11,871) 2004 12/1/2016 40 years Jory Trail at the Grove—Wilsonville, OR (7,720) 2012 7/14/2017 50 years The Reserve at Johns Creek Walk—Johns Creek, GA (4,528) 2007 7/28/2017 40 years Villas at Legacy—Plano, TX (5,834) 1999 6/6/2018 40 years Col. A Col. F Col. G Col. H Col. I Description Accumulated Date of Date of Life on which depreciation in latest income statement is computed Stonemeadow Farms - Bothell, WA (4,894) 1999 5/13/2019 40 years Summit at San Marcos - Chandler, AZ (3,926) 2018 7/31/2019 50 years Presley Uptown - Charlotte, NC (2,473) 2016 9/30/2019 50 years Princeton North Andover-North Andover, MA (929) 2019 5/3/2021 50 years The Preserve at the Meadows (2)-- Fort Collins, CO (489) 2001 8/23/2021 40 years The Rockwell (2)-- Berlin, MA (547) 2020 8/31/2021 50 years Miramont-Fort Collins, CO (331) 1995 9/29/2021 40 years Pinecone-Fort Collins, CO (296) 1993 9/29/2021 40 years Reserve at Venice-North Venice, FL — 2021 12/17/2021 50 years Woodside Trumbull-Trumbull, CT — 2021 12/21/2021 50 years Total Residential Properties (78,519) Retail Properties: The District at Howell Mill—Atlanta, GA (17,958) 2006 6/15/2007 50 years Grand Lakes Marketplace—Katy, TX (5,834) 2012 9/17/2013 50 years Oak Grove Plaza—Sachse, TX (4,110) 2003 1/17/2014 40 years Rancho Temecula Town Center—Temecula, CA (8,377) 2007 6/16/2014 40 years Skokie Commons—Skokie, IL (3,500) 2015 5/15/2015 50 years Whitestone Market—Austin, TX (6,467) 2003 9/30/2015 40 years Maui Mall—Maui, HI (9,521) 1971 12/22/2015 40 years Silverstone Marketplace—Scottsdale, AZ (3,693) 2015 7/27/2016 50 years Kierland Village Center—Scottsdale, AZ (3,593) 2001 9/30/2016 40 years Timberland Town Center—Beaverton, OR (3,671) 2015 9/30/2016 50 years Montecito Marketplace—Las Vegas, NV (5,053) 2007 8/8/2017 50 years Milford Crossing--Milford, MA (1,167) 2017 1/29/2020 50 years Total Retail Properties (72,944) Other Properties: South Beach Parking Garage—Miami, FL (4,619) 2001 1/28/2014 40 years Total Other Properties (4,619) Total Consolidated Properties: $ (259,362) Properties Held for Sale: The Edge at Lafayette—Lafayette, LA 4,131 2007 1/15/2008 50 years Norfleet Distribution Center—Kansas City, MO (9,070) 2007 2/27/2007 50 years Total Properties Held for Sale $ (4,939) Reconciliation of Real Estate Consolidated Properties 2021 2020 2019 Balance at beginning of year $ 2,320,336 $ 2,200,514 $ 1,797,585 Additions 1,372,562 161,947 404,353 Assets sold/ written off (36,438) (5,817) (1,424) Reclassed as held for sale (47,537) (36,308) Balance at close of year $ 3,608,923 $ 2,320,336 $ 2,200,514 Reconciliation of Accumulated Depreciation Consolidated Properties 2021 2020 2019 Balance at beginning of year $ 219,833 $ 176,236 $ 135,480 Additions 49,966 49,134 42,180 Assets sold/ written off (3,676) (2,118) (1,424) Reclassed as held for sale (4,939) (3,419) — Balance at close of year $ 259,362 $ 219,833 $ 176,236 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Consolidation, Policy | Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and the instructions to Form 10-K and include the accounts of our wholly-owned subsidiaries, consolidated variable interest entities ("VIE") and the unconsolidated investments in real estate affiliates. We consider the authoritative guidance of accounting for investments in common stock, investments in real estate ventures, investors accounting for an investee when the investor has the majority of the voting interest but the minority partners have certain approval or veto rights, determining whether a general partner or general partners as a group controls a limited partnership or similar entity when the limited partners have certain rights, and the consolidation of VIEs in which we own less than a 100% interest. All significant intercompany balances and transactions have been eliminated in consolidation. Parenthetical disclosures are shown on our Consolidated Balance Sheets regarding the amounts of VIE assets and liabilities that are consolidated. As of December 31, 2021, our VIEs include The District at Howell Mill, Grand Lakes Marketplace, Presley Uptown, 237 Via Vera Cruz, 4211 Starboard Drive, 13500 Danielson Drive, 2840 Loker Ave, and 15890 Bernardo Center Drive due to the joint venture structures and our partners having limited participation rights and no kick-out rights. The creditors of our VIEs do not have general recourse to us. Noncontrolling interests represent the minority members’ proportionate share of the equity in our VIEs. At acquisition, the assets, liabilities and noncontrolling interests were measured and recorded at the estimated fair value. Noncontrolling interests will increase for the minority members’ share of net income of these entities and contributions and decrease for the minority members’ share of net loss and distributions. As of December 31, 2021, noncontrolling interests represented the minority members’ proportionate share of the equity of the entities listed above as VIEs. Certain of our joint venture agreements include provisions whereby, at certain specified times, each party has the right to initiate a purchase or sale of its interest in the joint ventures at an agreed upon fair value. Under these provisions, we are not obligated to purchase the interest of its outside joint venture partners. |
Real Estate Held for Development and Sale, Policy [Policy Text Block] | Investments in Real Estate Real estate assets are stated at cost. Our real estate assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. A real estate asset is considered to be impaired when the estimated future undiscounted operating cash flow over the expected hold period is less than its carrying value in accordance with the authoritative guidance on accounting for the impairment or disposal of long-lived assets. To the extent impairment has occurred, the excess of the carrying value of the asset over its estimated fair value will be charged to operations. The valuation adjustments were calculated based on market conditions and assumptions made by management at the time the valuation adjustments were recorded, which may differ materially from actual results if market conditions or the underlying assumptions change in the future. If our strategy changes or if market conditions otherwise dictate a change in the holding period and an exit date, an impairment loss could be recognized and such loss could be material. When we have committed to a plan to sell a property that is available for immediate sale, have the necessary approvals and marketing in place, and believe that the sale of the property is probable the assets selected for disposal will be classified as held-for-sale and carried at the lower of their carrying values ( i.e ., cost less accumulated depreciation and any impairment loss recognized, where applicable) or estimated fair values less costs to sell. Carrying values are reassessed at each balance sheet date. Due to market fluctuation, actual proceeds realized on the ultimate sale of these properties may differ from estimates and such differences could be material. Depreciation and amortization cease once a property is classified as held-for-sale. We recorded $1,822 in impairment charges related to the The Edge at Lafayette for the year ended December 31, 2021. We recorded no impairment charges in 2020 or 2019. |
Equity Method Investments | Investments in Unconsolidated Real Estate Affiliates and Real Estate Fund Investment We account for our investments in unconsolidated real estate affiliates using either the equity method or the fair value option. Under the equity method the cost of the investment is adjusted for our share of equity in net income or loss and reduced by distributions received and increased by contributions provided. Under the fair value option, the cost basis of the investment is increased for contributions made to the investment and adjusted for our share of changes in the fair value of the investment. Distributions received from investments in unconsolidated real estate affiliates under the fair value option are recorded as income from the unconsolidated affiliates. Distributions that are identified as returns of capital are recorded as a reduction to the cost basis of the investment, whereas distributions identified as capital gains or losses are recorded as realized gains or losses. |
Marketable Securities, Policy | Investment in Marketable Securities In accordance with our investment guidelines, investments in marketable securities consist of stock of publicly traded REITs. The net unrealized change in the fair value of our investments in marketable securities is recorded in earnings as part of net income in accordance with Accounting Standard Update ("ASU") 2016-1, Financial Statements - Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities. |
Revenue Recognition, Deferred Revenue [Policy Text Block] | Rental Revenue Recognition Minimum rent revenues are recognized on a straight-line basis over the terms of the related leases. Straight-line rent revenue (representing rents recognized prior to being billed and collectible as provided by the terms of the leases) caused net increases to rent revenue of $3,155, $951 and $3,351 for the years ended December 31, 2021, 2020 and 2019, respectively. Also included, as an increase to rent revenue, for the years ended December 31, 2021, 2020 and 2019, are $2,714, $1,859 and $2,107, respectively, of net amortization related to above-and below-market in-place leases at properties acquired as provided by authoritative guidance on goodwill and intangible assets. Tenant recoveries are recognized as revenues in the period the applicable costs are incurred. We recognize rental revenue from tenants under operating leases on a straight-line basis over the non-cancelable term of the lease when collectibility of substantially all rents is reasonably assured. Recognition of rental revenue on a straight-line basis includes the effects of rental abatements, lease incentives and fixed and determinable increases in lease payments over the lease term. For leases where collection of substantially all rents is not deemed to be probable of collection, revenue is recorded equal to cash that has been received from the tenant. We evaluate the collectibility of rents and other receivables at each reporting period based on factors including, among others, tenant's payment history, the financial condition of the tenant, business conditions and trends in the industry in which the tenant operates, economic conditions in the geographic area where the property is located. If evaluation of these factors or others indicates it is not probable we will collect substantially all rent we recognize an adjustment to rental revenue. If our judgment or estimation regarding probability of collection changes we may adjust or record additional rental revenue in the period such conclusion is reached. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents We consider all highly-liquid investments purchased with original maturities of three months or less to be cash equivalents. We maintain a portion of our cash in bank deposit accounts, which, at times, may exceed the federally insured limits. No losses have been experienced related to such accounts. We believe our bank deposit accounts are held with quality financial institutions. |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy | Restricted Cash Restricted cash includes amounts established pursuant to various agreements for loan escrow accounts, loan commitments and property sale proceeds. When we sell a property, we can elect to enter into a like-kind exchange pursuant to the applicable Internal Revenue Service guidance whereby the proceeds from the sale are placed in escrow with a qualified intermediary until a replacement property can be purchased. At December 31, 2021, our restricted cash balance on our Consolidated Balance Sheet was primarily related to loan escrow amounts and subscriptions received in advance. |
Deferred Expenses | Deferred Expenses Deferred expenses consist of lease commissions. Lease commissions are capitalized and amortized over the term of the related lease as a component of depreciation and amortization expense. Accumulated amortization of deferred expenses at December 31, 2021 and 2020 was $8,436 and $6,495, respectively. |
Acquisitions | Acquisitions We use estimates of future cash flows and other valuation techniques to allocate the fair value of acquired property among land, building and other identifiable asset and liability intangibles. We value land based on comparable land sales specific to the applicable market. We record building values using an as-if-vacant methodology. We record above- and below-market in-place lease values for acquired properties based on the present value (using an interest rate which reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) our estimate of fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining non-cancelable term of the lease plus any below-market lease extension option periods. We amortize the capitalized above-market lease values as a reduction of minimum rents over the remaining non-cancelable terms of the respective leases. We amortize the capitalized below-market lease values as an increase to minimum rents over the term of the respective leases plus any below-market lease extension option terms. Should a tenant terminate its lease prior to the contractual expiration, the unamortized portion of the above-market and below-market in-place lease value is immediately charged to minimum rents. We measure the aggregate value of other intangible assets acquired based on the difference between (i) the property valued with existing in-place leases and (ii) the property valued as-if-vacant. Our estimates of value are made using methods similar to those used by independent appraisers, primarily discounted cash flow analyses. Factors considered by us in our analysis include an estimate of carrying costs during the hypothetical expected lease-up periods considering current market conditions at the date of acquisition, and costs to execute similar leases. We also consider information obtained about each property as a result of the pre-acquisition due diligence, marketing and leasing activities in estimating the fair value of the tangible and intangible assets acquired. In estimating carrying costs, we will include estimates of lost rentals during the expected lease-up periods, which is expected to primarily range from one to two years, depending on specific local market conditions, and costs to execute similar leases, including leasing commissions, legal and other related expenses to the extent that such costs are not already incurred in connection with a new lease origination as part of the transaction. The total amount of other intangible assets acquired is further allocated to in-place lease values and customer relationship intangible values based on our evaluation of the specific characteristics of each tenant’s lease and our overall relationship with that respective tenant. Characteristics considered by us in allocating these values include, among other factors, the nature and extent of our existing business relationships with the tenant, growth prospects for developing new business with the tenant, the tenant’s credit quality and expectations of lease renewals (including those existing under the terms of the lease agreement). As of December 31, 2021 and 2020, we have allocated no value to customer relationship value. We amortize the value of in-place leases to expense over the weighted average lease term of the respective leases, which generally range from one Purchase price has been allocated to acquired intangible assets, which include acquired in-place lease intangibles, acquired above-market in-place lease intangibles and acquired ground lease intangibles, which are reported net of accumulated amortization of $102,842 and $82,699 at December 31, 2021 and 2020, respectively, on the accompanying Consolidated Balance Sheets. The acquired intangible liabilities represent acquired below-market in-place leases, which are reported net of accumulated amortization of $15,481 and $12,724 at December 31, 2021 and 2020, respectively, on the accompanying Consolidated Balance Sheets. Our amortizing intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. According to authoritative guidance, an amortizing intangible asset is considered to be impaired when the estimated future undiscounted operating cash flow is less than its carrying value. To the extent impairment has occurred, the excess of the carrying value of the amortizing intangible asset over its estimated fair value will be charged to operations. |
Income Tax, Policy [Policy Text Block] | Income Taxes We first elected to be taxed as a REIT under sections 856-860 of the Internal Revenue Code of 1986, as amended (the “Code”), for our taxable year ended December 31, 2004. To qualify as a REIT, we must meet a number of organizational and operational requirements, including requirements to distribute at least 90% of our REIT taxable income, determined without regard to the dividends paid deduction and excluding net capital gains, and to meet certain quarterly asset and annual income tests. It is our current intention to adhere to these requirements. As a REIT, we will generally not be subject to corporate-level federal income tax to the extent we distribute 100% of our taxable income to our stockholders. If we fail to qualify as a REIT in any taxable year, we will be subject to federal income taxes at regular corporate rates (including any applicable alternative minimum tax) and may not be able to qualify as a REIT for four subsequent taxable years. Even if we qualify for taxation as a REIT, we may be subject to certain state and local taxes on our income, property or net worth, and to certain federal income and excise taxes. On December 22, 2017, tax legislation commonly referred to as the Tax Cuts and Jobs Act was signed into law which resulted in significant U.S. federal income tax reform. We did not identify any items for which the accounting for the income tax effects of the Tax Cut and Jobs Act have not been completed. The Alternative Minimum Tax has been repealed for tax years beginning after December 31, 2017 as a result of the Tax Cut and Jobs Act. Earnings and profits, which determine the tax treatment of dividends to stockholders, differ from net income reported for financial reporting purposes due to differences for federal income tax reporting purposes in computing, among other things, estimated useful lives, depreciable basis of properties and permanent and timing differences on the inclusion or deductibility of elements of income and expense for such purposes. We evaluate uncertain tax positions in accordance with FASB ASC 740, Income Taxes |
Segment Reporting, Policy [Policy Text Block] | Business Segments Consistent with how we review and manage our properties, we align our internal operations along the five primary property types we are targeting for investments resulting in five operating segments: industrial, office, residential, retail and other properties. |
Assets and Liabilities Measured at Fair Value | Assets and Liabilities Measured at Fair Value The Financial Accounting Standards Board’s (“FASB”) guidance for fair value measurement and disclosure states that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering assumptions, authoritative guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: • Level 1 —Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that we have access to at the measurement date. • Level 2 —Observable inputs, other than quoted prices included in level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs are those in markets for which there are few transactions, the prices are not current, little public information exists or instances where prices vary substantially over time or among brokered market makers. • Level 3 —Unobservable inputs for the asset or liability. Unobservable inputs are those inputs that reflect our own assumptions that market participants would use to price the asset or liability based on the best available information. The authoritative guidance requires the disclosure of the fair value of our financial instruments for which it is practicable to estimate that value. The guidance does not apply to all balance sheet items. Market information as available or present value techniques have been utilized to estimate the amounts required to be disclosed. Since such amounts are estimates, there can be no assurance that the disclosed value of any financial instrument could be realized by immediate settlement of the instrument. Our investments in marketable securities are valued using Level 1 inputs as the securities are publicly traded on major stock exchanges. Real estate fund investments accounted for under the fair value option are stated at the fair value of our ownership in the fund. The fair value is recorded based upon changes in the NAV of the limited partnership as determined from the financial statements of the real estate fund. During the year ended December 31, 2021 and 2020, we recorded an unrealized increase and decrease in fair value classified within the Level 3 category of $65,966 and $15,869, respectively, which related to our investments in the NYC Retail Portfolio (as defined below) and the Single-family Rental Portfolio ( see Note 4-Unconsolidated Real Estate Affiliates and Fund Investments ). We have estimated the fair value of our mortgage notes and other debt payable reflected in the accompanying Consolidated Balance Sheets at amounts that are based upon an interpretation of available market information and valuation methodologies (including discounted cash flow analysis with regard to fixed rate debt) for similar loans made to borrowers with similar credit ratings and for the same maturities. The fair value of our mortgage notes and other debt payable, including amounts included as held for sale, using level two inputs was approximately $3,794 and $30,923 higher than the aggregate carrying amounts at December 31, 2021 and 2020, respectively. Such fair value estimates are not necessarily indicative of the amounts that would be realized upon extinguishment of our mortgage notes and other debt payable. |
Derivatives, Policy [Policy Text Block] | Derivative Financial Instruments We record all derivatives on the Consolidated Balance Sheets at fair value in prepaid expenses and other assets or accounts payable and other accrued expenses. Changes in the fair value of our derivatives are recorded on our Consolidated Statements of Operations and Comprehensive Income, as a component of interest expense, as we have not designated our derivative instruments as hedges. Our objective in using interest rate derivatives is to manage our exposure to interest rate movements. To accomplish this objective, we use interest rate caps and swaps. As of December 31, 2021, we had the following outstanding interest rate derivatives related to managing our interest rate risk: Interest Rate Derivative Number of Instruments Notional Amount Interest Rate Swaps 5 $ 190,000 |
Use of Estimates | Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions. These estimates and assumptions impact the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. For example, significant estimates and assumptions have been made with respect to useful lives of assets, recoverable amounts of receivables, fair value of derivatives and real estate assets, initial valuations and related amortization periods of deferred costs and intangibles, particularly with respect to property acquisitions. Actual results could differ from those estimates. |
New Accounting Pronouncements, Policy | Recent Issued Accounting Pronouncements In March 2020, the Financial Accounting Standards Board issued Accounting Standard Update ("ASU") No. 2020-04, Reference Rate Reform (Topic 848), which provides guidance containing practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. We will continue to evaluate the impact of the guidance and expect to adopt it over time as debt markets transition from LIBOR to alternative rates such as the Secured Overnight Funding Rate ("SOFR"). |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Schedule of fixed asset useful lives [Table Text Block] | Depreciation expense is computed using the straight-line method based upon the following estimated useful lives: Asset Category Estimated Useful Life Buildings and improvements 40-50 Years Tenant improvements Lesser of life of improvement or life of related lease Equipment and fixtures 2-10 Years Maintenance and repairs are charged to expense when incurred. Expenditures for significant betterments and improvements are capitalized. |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Future amortization related to amortizing acquired intangible assets and liabilities, including those classified as held for sale, as of December 31, 2021 is as follows: Acquired in-place leases Acquired above-market leases Below-market ground lease Acquired below-market leases 2022 $ 43,720 $ 1,790 $ 401 $ (4,991) 2023 34,161 1,581 401 (4,497) 2024 27,358 1,353 401 (4,020) 2025 20,202 1,194 401 (3,566) 2026 16,269 1,174 15 (2,713) Thereafter 59,150 6,424 232 (11,235) $ 200,860 $ 13,516 $ 1,851 $ (31,022) |
Schedule of Derivative Instruments [Table Text Block] | As of December 31, 2021, we had the following outstanding interest rate derivatives related to managing our interest rate risk: Interest Rate Derivative Number of Instruments Notional Amount Interest Rate Swaps 5 $ 190,000 |
Property (Tables)
Property (Tables) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Property, Plant and Equipment [Abstract] | |||
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | We allocated the purchase price for our 2021 asset acquisitions in accordance with authoritative guidance as follows: 2021 Acquisitions Land $ 173,962 Building and equipment 1,145,365 In-place lease intangible (acquired intangible assets) 135,278 Above-market lease intangible (acquired intangible assets) 9,568 Below-market lease intangible (acquired intangible liabilities) (19,997) $ 1,444,176 Amortization period for intangible assets and liabilities 5 months - 19 years | We allocated the purchase price for our 2020 asset acquisitions in accordance with authoritative guidance as follows: 2020 Acquisitions Land $ 15,782 Building and equipment 136,430 In-place lease intangible (acquired intangible assets) 35,345 Above-market lease intangible (acquired intangible assets) 2,947 Below-market lease intangible (acquired intangible liabilities) (2,317) $ 188,187 Amortization period for intangible assets and liabilities 5 months - 15 years | 2019 Acquisitions Land $ 74,458 Building and equipment 313,335 In-place lease intangible (acquired intangible assets) 32,312 Above-market lease intangible (acquired intangible assets) 998 Below-market lease intangible (acquired intangible liabilities) (2,702) $ 418,401 Amortization period for intangible assets and liabilities 1 month -10 years |
Disclosure of Long Lived Assets Held-for-sale [Table Text Block] | Held for Sale On December 15, 2021, Norfleet Distribution Center was classified as held for sale and was sold on January 6, 2022. On December 23, 2021, The Edge at Lafayette was classified as held for sale and was sold on January 24, 2022. As of December 31, 2021, our investment in real estate and other assets and liabilities held for sale was comprised of: December 31, 2021 Land $ 3,530 Building and equipment, net 35,349 Other assets, net 447 Total assets $ 39,326 Mortgage notes and other debt payable, net $ — Other liabilities 271 Total liabilities $ 271 On November 11, 2020, South Seattle Distribution Center was classified as held for sale and was sold on January 8, 2021. As of December 31, 2021, our investment in real estate and other assets and liabilities held for sale was comprised of: December 31, 2020 Land $ 16,652 Building and equipment, net 16,237 Other assets, net 1,616 Total assets $ 34,505 Mortgage notes and other debt payable, net $ 17,811 Other liabilities 430 Total liabilities $ 18,241 |
Unconsolidated Real Estate Af_2
Unconsolidated Real Estate Affiliates (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Unconsolidated Real Estate Affiliates [Abstract] | |
Equity Method Investments [Table Text Block] | In addition to investments in consolidated properties, we may make investments in real estate which are classified as unconsolidated real estate affiliates under GAAP. The residential sector includes residential properties and single-family rental homes. Unconsolidated Real Estate Affiliates The following represent our unconsolidated real estate affiliates as of December 31, 2021 and December 31, 2020. Carrying Amount of Investment Property Property Type Location Acquisition Date December 31, 2021 December 31, 2020 Chicago Parking Garage Other Chicago, IL December 23, 2014 $ 13,992 $ 14,000 Pioneer Tower Office Portland, OR June 28, 2016 103,529 108,715 The Tremont Residential Burlington, MA July 19, 2018 21,345 21,430 The Huntington Residential Burlington, MA July 19, 2018 10,773 11,549 Siena Suwanee Town Center Residential Suwanee, GA December 15, 2020 30,685 32,196 Kingston at McLean Crossing Residential McLean, VA December 3, 2021 36,720 — Total $ 217,044 $ 187,890 Summarized Combined Balance Sheets—Unconsolidated Real Estate Affiliates—Equity Method Investments (Unaudited) December 31, 2021 December 31, 2020 Net investments in real estate $ 408,233 $ 296,930 Acquired intangible assets, net 10,139 12,653 Other assets 8,433 6,803 Total assets $ 426,805 $ 316,386 Mortgage notes and other debt payable $ 182,318 $ 110,104 Acquired intangible liabilities, net 3,933 2,821 Other liabilities 2,266 3,200 Total liabilities 188,517 116,125 Members’ equity 238,288 200,261 Total liabilities and members' equity $ 426,805 $ 316,386 Company Investments in Unconsolidated Real Estate Affiliates—Equity Method Investments (Unaudited) December 31, 2021 December 31, 2020 Members’ equity $ 238,288 $ 200,261 Less: other members' equity (19,858) (10,969) Basis differential (1,386) (1,402) Investments in unconsolidated real estate affiliates $ 217,044 $ 187,890 Summarized Combined Statements of Operations—Unconsolidated Real Estate Affiliates—Equity Method Investments (Unaudited) Year Ended December 31, 2021 Year Ended December 31, 2020 Year Ended December 31, 2019 Total revenues $ 24,862 $ 18,978 $ 21,057 Total operating expenses 22,868 17,792 17,014 Operating income $ 1,994 $ 1,186 $ 4,043 Total other expenses 4,586 2,894 2,860 Net (loss) income $ (2,592) $ (1,708) $ 1,183 Company Equity in Income of Unconsolidated Real Estate Affiliates—Equity Method Investments (Unaudited) Year Ended December 31, 2021 Year Ended December 31, 2020 Year Ended December 31, 2019 Net (loss) income of unconsolidated real estate affiliates $ (2,592) $ (1,708) $ 1,183 Other members’ share of net (income) loss (186) (368) (351) Company equity in (loss) income of unconsolidated real estate affiliates $ (2,778) $ (2,076) $ 832 |
Fair Value Option, Disclosures [Table Text Block] | Summarized Combined Balance Sheets—NYC Retail Portfolio Investment and Single-Family Rental Portfolio—Fair Value Option Investment (Unaudited) December 31, 2021 December 31, 2020 Investment in real estate venture $ 1,666,923 $ 290,830 Cash 19,650 3,158 Other assets 55,562 202 Total assets $ 1,742,135 $ 294,190 Total liabilities $ 823,503 $ 7,405 Partners' capital 918,632 286,785 Total liabilities and partners' capital $ 1,742,135 $ 294,190 Summarized Statement of Operations—NYC Retail Portfolio Investment and Single-Family Rental Portfolio—Fair Value Option Investment (Unaudited) Year Ended December 31, 2021 Year Ended December 31, 2020 Year Ended December 31, 2019 Total revenue $ 31,945 $ 2,261 $ 6,001 Net investment income (loss) $ 4,025 $ (28) $ 4,128 Net change in unrealized gain (loss) on investment in real estate venture 162,207 (57,323) 15,292 Net income (loss) $ 166,232 $ (57,351) $ 19,420 |
Mortgage Notes Payable Table 1
Mortgage Notes Payable Table 1 - Schedule of Mortgages and Other Notes Payable (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Table 1 - Mortgages and Other Debt Payable [Abstract] | |
Schedule of Long-term Debt Instruments [Table Text Block] | Mortgage notes and other debt payable have various maturities through 2031 and consist of the following: Property Maturity/Extinguishment Date Fixed / Interest Amount payable as of December 31, 2021 December 31, 2020 140 Park Avenue (1) March 1, 2021 Fixed 3.00 % $ — $ 22,800 Monument IV at Worldgate (2) February 1, 2023 Fixed 3.13 — 40,000 Aurora Distribution Center June 1, 2023 Fixed 3.39 13,441 13,716 180 N Jefferson July 1, 2023 Fixed 3.89 45,000 45,000 Grand Lakes Marketplace October 1, 2023 Fixed 4.20 23,900 23,900 Oak Grove Plaza February 1, 2024 Fixed 4.17 8,915 9,154 Charlotte Distribution Center September 1, 2024 Fixed 3.66 9,341 9,556 Genesee Plaza January 1, 2025 Fixed 4.30 39,285 40,221 Jory Trail at the Grove February 1, 2025 Fixed 3.81 42,793 43,600 Skokie Commons June 1, 2025 Fixed 3.31 23,627 24,120 DFW Distribution Center June 1, 2025 Fixed 3.23 17,720 17,720 AQ Rittenhouse September 1, 2025 Fixed 3.65 26,370 26,370 Timberland Town Center October 1, 2025 Fixed 4.07 20,253 20,746 Whitestone Market December 1, 2025 Fixed 3.58 25,750 25,750 Miramont Apartments March 1, 2026 Fixed 3.87 27,629 — Pinecone Apartments March 1, 2026 Fixed 3.87 25,355 — Louisville Distribution Center May 1, 2026 Fixed 1.76 52,250 — Maui Mall June 1, 2026 Fixed 3.64 36,322 37,122 Rancho Temecula Town Center July 1, 2026 Fixed 4.02 28,000 28,000 Dylan Point Loma September 1, 2026 Fixed 3.83 40,319 40,500 237 Via Vera Cruz September 1, 2026 Floating 1.50 11,880 — 4211 Starboard Drive September 1, 2026 Floating 1.50 20,612 — 13500 Danielson Street September 1, 2026 Floating 1.50 10,990 — 2840 Loker Ave September 1, 2026 Floating 1.50 14,316 — 15890 Bernardo Center September 1, 2026 Floating 1.50 8,702 — Lane Parke Apartments November 1, 2026 Fixed 3.18 37,000 37,000 The District at Howell Mill March 1, 2027 Fixed 5.30 28,858 29,638 San Juan Medical Center October 1, 2027 Fixed 3.35 16,730 16,730 Whitestown Distribution Center February 10, 2028 Fixed 2.95 34,000 — Townlake of Coppell April 10, 2028 Fixed 2.41 36,030 — Southeast Phoenix Distribution Center June 1, 2028 Fixed 2.70 49,000 — Princeton North Andover June 1, 2028 Floating 1.65 39,900 — Stonemeadow Farms August 1, 2029 Fixed 3.62 44,722 45,000 Presley Uptown November 1, 2029 Fixed 3.25 30,000 30,000 Reserve at Johns Creek December 1, 2029 Fixed 3.58 26,000 26,000 Summit at San Marcos May 1, 2030 Fixed 3.28 35,900 35,900 Mason Mill Distribution Center October 1, 2030 Fixed 3.25 17,500 17,500 The Penfield October 1, 2030 Fixed 2.50 35,500 35,500 South San Diego Distribution Center January 1, 2031 Fixed 3.18 72,500 — Villas at Legacy January 1, 2031 Fixed 2.53 29,500 29,500 The Preserve at the Meadows October 1, 2031 Fixed 2.57 32,400 — The Rockwell October 1, 2031 Fixed 2.62 46,310 — Revolving line of credit May 25, 2024 Fixed & Floating 1.75 - 3.68 300,000 — Bridge loan December 10, 2022 Floating 1.75 100,000 — Term loans May 25, 2024 Fixed & Floating 1.70 - 3.40 235,000 100,000 TOTAL $ 1,819,620 $ 871,043 Net debt discount on assumed debt and debt issuance costs (1,956) (2,941) MORTGAGE NOTES AND OTHER DEBT PAYABLE, NET $ 1,817,664 $ 868,102 South Seattle Distribution Center (3) $ — $ 17,873 MORTGAGE NOTES AND OTHER DEBT PAYABLE OF HELD FOR SALE PROPERTY $ — $ 17,873 ________ (1) On March 8, 2021, we repaid the mortgage note payable related to 140 Park Avenue in the amount of $22,800. (2) On March 17, 2021, we repaid the mortgage note payable related to Monument IV in the amount of $40,000. |
Mortgage Notes Payable Table 2
Mortgage Notes Payable Table 2 - Schedule of Debt Premium / Discount (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Debt Instrument, Unamortized Discount (Premium), Net [Abstract] | |
Summary of Assumed Debt Premium / Discount [Table Text Block] | We have recognized a premium or discount on debt we assumed with the following property acquisitions, the remaining premium or discount is as follows as of December 31, 2021: Property Debt Premium Effective The District at Howell Mill $ (1,035) 6.34 % Timberland Town Center 382 3.34 Jory Trail at the Grove (80) 3.94 Genesee Plaza 991 4.30 Pinecone Apartments 1,572 2.33 Miramont Apartments 1,712 2.33 South San Diego 3,399 3.18 Net debt premium on assumed debt $ 6,941 |
Table 3 - Summary of Aggregate
Table 3 - Summary of Aggregate Principa Pmts (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Other Disclosure [Abstract] | |
Aggregate principal payments of mortgage notes payable | Aggregate future principal payments of mortgage notes payable and other debt payable are as follows: Year Amount 2022 $ 107,812 2023 89,890 2024 559,917 2025 192,296 2026 308,023 Thereafter 561,682 Total $ 1,819,620 |
Common Stock Offering Cost Fees
Common Stock Offering Cost Fees (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Common Stock [Abstract] | |
Offering Cost Fees [Table Text Block] | Selling Commission (1) Dealer Manager Fee (2) Class A Shares up to 3.0% 0.85% Class M Shares — 0.30% Class A-I Shares up to 1.5% 0.30% Class M-I Shares — None Class D Shares (3) up to 1.0% None ________ (1) Selling commissions are paid on the date of sale of our common stock. (2) We accrue all future dealer manager fees up to the ten percent regulatory limitation as accrued offering costs on our Consolidated Balance Sheets on the date of sale of our common stock. For NAV calculation purposes, dealer manager fees are accrued daily, on a continuous basis equal to 1/365th of the stated fee. Each Class A, Class M and Class A-I share sold in a public offering will automatically convert into the number of Class M-I shares based on the then-current applicable NAV of each class on the date following the termination of the primary portion of such public offering in which we, with the assistance of the Dealer Manager, determine that total underwriting compensation paid with respect to such public offering equals 10% of the gross proceeds from the primary portion of such public offering. (3) Shares of Class D common stock are only being offered pursuant to a private offering. |
Common Stock Stock Transactions
Common Stock Stock Transactions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Stock Transactions [Abstract] | |
Stock Transactions [Table Text Block] | The stock transactions for each of our classes of common stock for the years ending December 31, 2021, 2020 and 2019 were as follows: Shares of Shares of Shares of Shares of Shares of Balance, December 31, 2018 71,187,722 39,869,130 11,083,034 9,738,086 6,270,479 Issuance of common stock 20,389,402 5,356,380 462,451 11,379,814 — Repurchase of shares (3,271,008) (4,889,772) (453,781) (73,227) (1,312,564) Stock based compensation — — — 11,298 — Balance, December 31, 2019 88,007,721 39,036,770 11,153,567 22,589,599 4,957,915 Issuance of common stock 13,533,380 2,453,336 314,149 12,417,353 — Repurchase of shares (11,333,773) (5,009,716) (1,878,636) (3,150,763) — Stock based compensation — — — 16,000 — Stock conversion (536,232) (868,234) 27,219 1,374,812 — Balance, December 31, 2020 89,671,096 35,612,156 9,616,299 33,247,001 4,957,915 Issuance of common stock 16,945,256 3,590,727 478,460 20,501,787 2,555,366 Repurchase of shares (6,327,886) (1,937,556) (738,450) (2,148,050) — Stock based compensation — — — 20,000 — Share conversions (250,104) (807,136) — 1,055,955 — Balance, December 31, 2021 100,038,362 36,458,191 9,356,309 52,676,693 7,513,281 |
Schedule of Stock by Class [Table Text Block] | The stock issuances for our classes of shares, including those issued through our distribution reinvestment plan, for the years ending December 31, 2021, 2020 and 2019 were as follows: December 31, 2021 December 31, 2020 December 31, 2019 # of shares $ Amount # of shares $ Amount # of shares $ Amount Class A Shares 16,945,256 $ 210,810 13,533,380 $ 164,020 20,389,402 $ 250,822 Class M Shares 3,590,727 44,885 2,453,336 29,258 5,356,380 65,332 Class A-I Shares 478,460 6,077 314,149 3,736 462,451 5,674 Class M-I Shares 20,521,787 254,168 12,433,353 149,090 11,391,112 139,143 Class D Shares 2,555,366 30,000 — — — — Total $ 545,940 $ 346,104 $ 460,971 |
Tender Offer Results [Table Text Block] | Share Repurchase Plan Our share repurchase plan allows stockholders, subject to a one-year holding period, with certain exceptions, to request that we repurchase all or a portion of their shares of common stock on a daily basis at that day's NAV per share, limited to 5% of aggregate Company NAV per quarter. We have made repurchases according to our share repurchase plan as following: Year ending December 31, Shares of Shares of Shares of Shares of Shares of Total Dollar of Repurchases 2019 3,271,008 4,889,772 453,781 73,227 1,312,564 $ 121,822 2020 11,333,773 5,009,716 1,878,636 3,150,763 — 255,355 2021 6,327,886 1,937,556 738,450 2,148,050 — 135,246 |
Common Stock Common Stock (Tabl
Common Stock Common Stock (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Schedule of Earnings Per Share [Line Items] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Earnings Per Share (“EPS”) Basic per share amounts are based on the weighted average of shares outstanding of 186,610,215, 170,613,298 and 151,179,459 for the years ended December 31, 2021, 2020 and 2019, respectively. We have no dilutive or potentially dilutive securities. We compute net income per share for Class A, Class M, Class A-I, Class M-I, and Class D common stock using the two-class method. Our Advisor may earn a performance fee ( see Note 9-Related Party Transactions ) which may impact the net income of each class of common stock differently. The calculated performance component for the years ended December 31, 2021, 2020 and 2019, and the impact on each class of common stock, are shown below. In periods where no performance fee is recognized in our Consolidated Statements of Operations and Comprehensive Income, the net income per share will be the same for each class of common stock. Basic and diluted net income per share for each class of common stock is computed using the weighted-average number of common shares outstanding during the period for each class of common stock. We have not issued any dilutive or potentially dilutive securities, and thus the basic and diluted net income per share for a given class of common stock is the same for each period presented. The following table sets forth the computation of basic and diluted net income per share for each of our Class A, Class M, Class A-I, Class M-I, and Class D common stock: Year Ended December 31, 2021 Class A Class M Class A-I Class M-I Class D Basic and diluted net income per share: Allocation of net income before performance fee $ 43,011 $ 16,231 $ 4,360 $ 18,960 $ 3,262 Allocation of performance fee 17,269 6,561 1,712 8,992 1,408 Total $ 25,742 $ 9,670 $ 2,648 $ 9,968 $ 1,854 Weighted average number of common shares outstanding 93,504,890 35,291,400 9,484,119 41,229,584 7,100,222 Basic and diluted net income per share: $ 0.28 $ 0.27 $ 0.28 $ 0.24 $ 0.26 Year Ended December 31, 2020 Class A Class M Class A-I Class M-I Class D Basic and diluted net loss per share: Allocation of net loss before performance fee $ (23,259) $ (9,465) $ (2,598) $ (7,405) $ (1,279) Allocation of performance fee — — — — — Total $ (23,259) $ (9,465) $ (2,598) $ (7,405) $ (1,279) Weighted average number of common shares outstanding 90,176,584 36,694,995 10,073,075 28,710,729 4,957,915 Basic and diluted net loss per share: $ (0.26) $ (0.26) $ (0.26) $ (0.26) $ (0.26) Year Ended December 31, 2019 Class A Class M Class A-I Class M-I Class D Basic and diluted net income per share: Allocation of net income before performance fee $ 52,118 $ 26,958 $ 7,315 $ 9,987 $ 3,555 Allocation of performance fee — — — — — Total $ 52,118 $ 26,958 $ 7,315 $ 9,987 $ 3,555 Weighted average number of common shares outstanding 78,844,620 40,782,711 11,066,621 15,108,522 5,376,985 Basic and diluted net income per share: $ 0.66 $ 0.66 $ 0.66 $ 0.66 $ 0.66 |
Common Stock Dividends Declared
Common Stock Dividends Declared (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Dividends Declared [Abstract] | |
Dividends Declared [Table Text Block] | Distributions Declared The distributions declared per share for each of our classes of common stock for the years ended December 31, 2021, 2020 and 2019 were as follows: Distributions Distributions Paid (1) Record Date Declared Class A Class M Class A-I Class M-I Class D 3/24/2021 $ 0.13500 $ 0.11326 $ 0.12715 $ 0.12726 $ 0.13500 $ 0.13500 6/24/2021 0.13500 0.11294 0.12696 0.12710 0.13500 0.13500 9/24/2021 0.13500 0.11189 0.12666 0.12644 0.13500 0.13500 12/23/2021 0.13500 0.11092 0.12637 0.12675 0.13500 0.13500 Total $ 0.54000 $ 0.44901 $ 0.50714 $ 0.50755 $ 0.54000 $ 0.54000 Distributions Distributions Paid (1) Record Date Declared Class A Class M Class A-I Class M-I Class D 3/25/2020 $ 0.13500 $ 0.11211 $ 0.12649 $ 0.12681 $ 0.13500 $ 0.13500 6/24/2020 0.13500 0.11239 0.12683 0.12753 0.13500 0.13500 9/24/2020 0.13500 0.11282 0.12661 0.12632 0.13500 0.13500 12/23/2020 0.13500 0.11280 0.12719 0.12715 0.13500 0.13500 Total $ 0.54000 $ 0.45012 $ 0.50712 $ 0.50781 $ 0.54000 $ 0.54000 Distributions Distributions Paid (1) Record Date Declared Class A Class M Class A-I Class M-I Class D 3/28/2019 $ 0.13500 $ 0.11216 $ 0.12662 $ 0.12653 $ 0.13500 $ 0.13500 6/27/2019 0.13500 0.11214 0.12643 0.12653 0.13500 0.13500 9/27/2019 (2) 0.17500 0.15184 0.16642 0.16660 0.17500 0.17500 12/30/2019 0.13500 0.11189 0.12600 0.12674 0.13500 0.13500 Total $ 0.58000 $ 0.48803 $ 0.54547 $ 0.54640 $ 0.58000 $ 0.58000 ________ (1) Distributions paid are net of dealer manager fees applicable to each share class. (2) Includes a special dividend of $0.04 per share. |
Rentals Under Operating Leases
Rentals Under Operating Leases Rentals Under Operating Leases (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Leases [Abstract] | |
Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity | We receive rental income from operating leases. The minimum future rentals from consolidated properties, excluding those classified as held for sale, based on operating leases in place at December 31, 2021 are as follows: Year Amount 2022 $ 193,511 2023 150,970 2024 128,099 2025 115,781 2026 100,469 Thereafter 372,690 Total $ 1,061,520 |
Segment Reporting (Tables)
Segment Reporting (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Consistent with how we review and manage our properties, the financial information summarized below is presented by operating segment and reconciled to income from operations for the years ended December 31, 2021, 2020 and 2019: Year Ended December 31, 2021 Industrial Office Residential Retail Other Total Assets $ 1,352,580 $ 479,306 $ 1,301,454 $ 564,565 $ 23,412 $ 3,721,317 Capital expenditures by segment $ 17,165 $ 4,284 $ 6,196 $ 3,212 $ 16 $ 30,873 Revenues: Rental revenue $ 71,719 $ 33,178 $ 74,378 $ 48,286 $ 379 $ 227,940 Other revenue 367 1,792 5,534 1,117 2,588 11,398 Total revenues $ 72,086 $ 34,970 $ 79,912 $ 49,403 $ 2,967 $ 239,338 Operating expenses: Real estate taxes $ 10,505 $ 3,394 $ 12,500 $ 5,979 $ 459 $ 32,837 Property operating 5,783 6,865 22,619 7,973 755 43,995 Total segment operating expenses $ 16,288 $ 10,259 $ 35,119 $ 13,952 $ 1,214 $ 76,832 Reconciliation to net income Property general and administrative 1,596 Advisor fees 65,667 Company level expenses 4,841 Provision for impairment of real estate 1,822 Depreciation and amortization 94,051 Total operating expenses $ 244,809 Other income and (expenses): Interest expense $ (48,230) Loss from unconsolidated real estate affiliates and fund investment 67,333 Investment income on marketable securities 418 Net realized gain upon sale of marketable securities 247 Net unrealized change in fair value of investment in marketable securities 2,933 Loss on disposition of property and extinguishment of debt 33,422 Total other income and (expenses) $ 56,123 Net income $ 50,652 Reconciliation to total consolidated assets as of December 31, 2021 Assets per reportable segments (1) $ 3,721,317 Investment in unconsolidated real estate affiliates, real estate fund investment and corporate level assets 680,929 Total consolidated assets $ 4,402,246 ________ (1) Includes $39,326 of Industrial and Residential segment assets classified as held for sale as of December 31, 2021. Year Ended December 31, 2020 Industrial Office Residential Retail Other Total Assets $ 659,870 $ 277,556 $ 788,060 $ 577,588 $ 22,134 $ 2,325,208 Capital expenditures by segment $ 4,673 $ 2,589 $ 4,346 $ 1,803 $ 119 $ 13,530 Revenues: Rental revenue $ 49,743 $ 27,239 $ 63,948 $ 45,417 $ 294 $ 186,641 Other revenue 323 1,313 3,474 572 1,298 6,980 Total revenues $ 50,066 $ 28,552 $ 67,422 $ 45,989 $ 1,592 $ 193,621 Operating expenses: Real estate taxes $ 8,218 $ 3,396 $ 11,476 $ 6,193 $ 382 $ 29,665 Property operating 4,121 5,938 19,643 7,583 714 37,999 Total segment operating expenses $ 12,339 $ 9,334 $ 31,119 $ 13,776 $ 1,096 $ 67,664 Reconciliation to net income Property general and administrative 4,318 Advisor fees 25,274 Company level expenses 2,936 Depreciation and amortization 75,603 Total operating expenses $ 175,795 Other income and (expenses): Interest expense $ (40,668) Loss from unconsolidated real estate affiliates and fund investments (19,451) Loss on disposition of property and extinguishment of debt (1,772) Total other income and (expenses) $ (61,891) Net loss $ (44,065) Reconciliation to total consolidation assets as of December 31, 2020 Assets per reportable segments $ 2,325,208 Investment in unconsolidated real estate affiliates, real estate fund investment and corporate level assets 333,391 Total consolidated assets $ 2,658,599 Year Ended December 31, 2019 Industrial Office Residential Retail Other Total Capital expenditures by segment $ 5,162 $ 584 $ 7,510 $ 6,602 $ 16 $ 19,874 Revenues: Rental revenue $ 45,166 $ 18,918 $ 57,069 $ 45,699 $ 318 $ 167,170 Other income 469 529 3,179 728 2,204 7,109 Total revenues $ 45,635 $ 19,447 $ 60,248 $ 46,427 $ 2,522 $ 174,279 Operating expenses: Real estate taxes $ 7,395 $ 1,985 $ 10,120 $ 5,063 $ 449 $ 25,012 Property operating 3,701 3,677 16,465 7,117 823 31,783 Total segment operating expenses $ 11,096 $ 5,662 $ 26,585 $ 12,180 $ 1,272 $ 56,795 Reconciliation to net income Property general and administrative 1,659 Advisor fees 23,026 Company level expenses 3,201 Depreciation and amortization 67,348 Total operating expenses $ 152,029 Other income and (expenses): Interest expense $ (36,185) Income from unconsolidated real estate affiliates and fund investments 7,066 Gain on disposition of property and extinguishment of debt 106,871 Total other income and (expenses) $ 77,752 Net income $ 100,002 |
Equity Method Investments [Table Text Block] | In addition to investments in consolidated properties, we may make investments in real estate which are classified as unconsolidated real estate affiliates under GAAP. The residential sector includes residential properties and single-family rental homes. Unconsolidated Real Estate Affiliates The following represent our unconsolidated real estate affiliates as of December 31, 2021 and December 31, 2020. Carrying Amount of Investment Property Property Type Location Acquisition Date December 31, 2021 December 31, 2020 Chicago Parking Garage Other Chicago, IL December 23, 2014 $ 13,992 $ 14,000 Pioneer Tower Office Portland, OR June 28, 2016 103,529 108,715 The Tremont Residential Burlington, MA July 19, 2018 21,345 21,430 The Huntington Residential Burlington, MA July 19, 2018 10,773 11,549 Siena Suwanee Town Center Residential Suwanee, GA December 15, 2020 30,685 32,196 Kingston at McLean Crossing Residential McLean, VA December 3, 2021 36,720 — Total $ 217,044 $ 187,890 Summarized Combined Balance Sheets—Unconsolidated Real Estate Affiliates—Equity Method Investments (Unaudited) December 31, 2021 December 31, 2020 Net investments in real estate $ 408,233 $ 296,930 Acquired intangible assets, net 10,139 12,653 Other assets 8,433 6,803 Total assets $ 426,805 $ 316,386 Mortgage notes and other debt payable $ 182,318 $ 110,104 Acquired intangible liabilities, net 3,933 2,821 Other liabilities 2,266 3,200 Total liabilities 188,517 116,125 Members’ equity 238,288 200,261 Total liabilities and members' equity $ 426,805 $ 316,386 Company Investments in Unconsolidated Real Estate Affiliates—Equity Method Investments (Unaudited) December 31, 2021 December 31, 2020 Members’ equity $ 238,288 $ 200,261 Less: other members' equity (19,858) (10,969) Basis differential (1,386) (1,402) Investments in unconsolidated real estate affiliates $ 217,044 $ 187,890 Summarized Combined Statements of Operations—Unconsolidated Real Estate Affiliates—Equity Method Investments (Unaudited) Year Ended December 31, 2021 Year Ended December 31, 2020 Year Ended December 31, 2019 Total revenues $ 24,862 $ 18,978 $ 21,057 Total operating expenses 22,868 17,792 17,014 Operating income $ 1,994 $ 1,186 $ 4,043 Total other expenses 4,586 2,894 2,860 Net (loss) income $ (2,592) $ (1,708) $ 1,183 Company Equity in Income of Unconsolidated Real Estate Affiliates—Equity Method Investments (Unaudited) Year Ended December 31, 2021 Year Ended December 31, 2020 Year Ended December 31, 2019 Net (loss) income of unconsolidated real estate affiliates $ (2,592) $ (1,708) $ 1,183 Other members’ share of net (income) loss (186) (368) (351) Company equity in (loss) income of unconsolidated real estate affiliates $ (2,778) $ (2,076) $ 832 |
Comprehensive Text Block List (
Comprehensive Text Block List (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Marketable Securities | The following is a summary of our investment in marketable securities held as of December 31, 2021, which consisted entirely of stock of publicly traded REITs. December 31, 2021 Investment in marketable securities - cost $ 40,273 Unrealized gains 3,161 Unrealized losses (228) Net unrealized gain 2,933 Investment in marketable securities - fair value $ 43,206 |
Organization (Details)
Organization (Details) $ in Thousands | Mar. 03, 2015USD ($) | Dec. 31, 2021USD ($)Rateshares | Dec. 31, 2020shares | Oct. 16, 2019USD ($) |
Organization (Textual) [Abstract] | ||||
common stock, authorized in offering of new shares | $ 3,000,000 | |||
Common Stock, Value, Outstanding | 3,565,671 | |||
Investment Owned, at Fair Value | 35,700 | |||
Proceeds from Issuance or Sale of Equity | $ 88,925 | |||
Sale of Stock, Percentage of Ownership after Transaction | Rate | 96.60% | |||
Organization (Additional Textual) [Abstract] | ||||
Incorporation date | May 28, 2004 | |||
Total number of stockholders | 20,039 | |||
Investment Owned, Balance, Shares | shares | 2,521,801 | |||
Other Ownership Interest | ||||
Organization (Textual) [Abstract] | ||||
Sale of Stock, Percentage of Ownership after Transaction | Rate | 3.40% | |||
DST Program [Member] | ||||
Organization (Textual) [Abstract] | ||||
Common Stock, Value, Outstanding | $ 454,090 | |||
common stock, value authorized during DST offering | $ 1,000,000 | |||
DST Gross Proceeds | $ 473,723 | |||
Consolidated Properties [Member] | ||||
Organization (Textual) [Abstract] | ||||
Number of properties owned | 120 | |||
Number of states | 27 | |||
Class A Shares [Member] | ||||
Organization (Textual) [Abstract] | ||||
Common stock, shares outstanding | shares | 100,038,362 | 89,671,096 | ||
Class M Shares [Member] | ||||
Organization (Textual) [Abstract] | ||||
Common stock, shares outstanding | shares | 36,458,191 | 35,612,156 | ||
Class A-I Shares [Member] | ||||
Organization (Textual) [Abstract] | ||||
Common stock, shares outstanding | shares | 9,356,309 | 9,616,299 | ||
Class M-I Shares [Member] | ||||
Organization (Textual) [Abstract] | ||||
Common stock, shares outstanding | shares | 52,676,693 | 33,247,001 | ||
Class D Shares [Member] | ||||
Organization (Textual) [Abstract] | ||||
common stock, value authorized during private offering | $ 350,000 | |||
Common stock, shares outstanding | shares | 7,513,281 | 4,957,915 | ||
Second Public Offering [Member] | ||||
Organization (Textual) [Abstract] | ||||
Common Stock, Value, Outstanding | $ 22,553 | |||
Private Placement [Member] | ||||
Organization (Textual) [Abstract] | ||||
Common Stock, Value, Outstanding | $ 98,188 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Summary of Significant Accounting Policies [Line Items] | |||
Derivative Liability | $ 2,580 | $ 6,500 | |
Summary of Significant Accounting Policies (Textual) [Abstract] | |||
Asset Impairment Charges | 1,822 | ||
Straight Line Rent | 3,155 | 951 | $ 3,351 |
Amortization of above and below Market Leases | 2,714 | 1,859 | $ 2,107 |
Provision for Lease Losses | 741 | 3,887 | |
Provision For Lease Losses - Straight Line Rent | 102 | 2,019 | |
Rent relief provided to tenants, be deferral | 929 | 1,919 | |
Rent relief provided to tenants, by abatement | 537 | 1,142 | |
Accumulated amortization of Deferred expenses | 8,436 | 6,495 | |
Finite-Lived Intangible Assets, Accumulated Amortization | 102,842 | 82,699 | |
Finite-Lived intangible liability, Accumulated Amortization | 15,481 | 12,724 | |
Unrealized Gain (Loss) on Investments | 65,966 | 15,869 | |
Level two [Member] | |||
Summary of Significant Accounting Policies (Textual) [Abstract] | |||
Mortgage notes payable, fair value | $ 3,794 | $ 30,923 | |
Minimum [Member] | Building [Member] | |||
Summary of Significant Accounting Policies (Textual) [Abstract] | |||
Property, Plant and Equipment, Useful Life | 40 years | ||
Minimum [Member] | Equipment [Member] | |||
Summary of Significant Accounting Policies (Textual) [Abstract] | |||
Property, Plant and Equipment, Useful Life | 2 years | ||
Maximum [Member] | Building [Member] | |||
Summary of Significant Accounting Policies (Textual) [Abstract] | |||
Property, Plant and Equipment, Useful Life | 50 years | ||
Maximum [Member] | Equipment [Member] | |||
Summary of Significant Accounting Policies (Textual) [Abstract] | |||
Property, Plant and Equipment, Useful Life | 10 years | ||
In-Place Leases [Member] | |||
Summary of Significant Accounting Policies (Textual) [Abstract] | |||
Acquired In-Place Leases Next Twelve Months | $ 43,720 | ||
Acquired Above Market Leases Next Twelve Months | 1,790 | ||
Below Market Ground Lease Next Twelve Months | 401 | ||
Acquired Below Market Leases Next Twelve Months | (4,991) | ||
Acquired In-Place Leases Year Two | 34,161 | ||
Acquired Above Market Leases Year Two | 1,581 | ||
Below Market Ground Leases Year Two | 401 | ||
Acquired Below Market Leases Year Two | (4,497) | ||
Acquired In-Place Leases Year Three | 27,358 | ||
Acquired Above Market Leases Year Three | 1,353 | ||
Below Market Ground Leases Year Three | 401 | ||
Acquired Below Market Leases Year Three | (4,020) | ||
Acquired In-Place Leases Year Four | 20,202 | ||
Acquired Above Market Leases Year Four | 1,194 | ||
Below Market Ground Leases Year Four | 401 | ||
Acquired Below Market Leases Year Four | (3,566) | ||
Acquired In-Place Leases Year Five | 16,269 | ||
Acquired Above Market Leases Year Five | 1,174 | ||
Below Market Ground Leases Year Five | 15 | ||
Acquired Below Market Leases Year Five | (2,713) | ||
Acquired In-Place Leases After Year Five | 59,150 | ||
Acquired Above Market Leases After Year Five | 6,424 | ||
Below Market Ground Leases After Year Five | 232 | ||
Acquired Below Market Leases After Year Five | (11,235) | ||
Acquired In Place Leases | 200,860 | ||
Acquired Above Market Leases | 13,516 | ||
Below Market Ground Leases | 1,851 | ||
Acquired Below Market Leases | $ (31,022) | ||
In-Place Leases [Member] | Minimum [Member] | |||
Summary of Significant Accounting Policies (Textual) [Abstract] | |||
Finite-Lived Intangible Asset, Useful Life | 1 year | ||
In-Place Leases [Member] | Maximum [Member] | |||
Summary of Significant Accounting Policies (Textual) [Abstract] | |||
Finite-Lived Intangible Asset, Useful Life | 10 years | ||
Chicago Parking Garage [Member] | |||
Summary of Significant Accounting Policies (Textual) [Abstract] | |||
Other than Temporary Impairment Losses, Investments | $ 1,506 | ||
Interest Rate Swap [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Derivative, Number of Instruments Held | 5 | ||
Derivative, Notional Amount | $ 190,000 |
Property Table 1 - Property Acq
Property Table 1 - Property Acquisitions (Details) $ in Thousands | Dec. 31, 2021USD ($) | Dec. 30, 2021USD ($)ft² | Dec. 28, 2021USD ($)ft² | Dec. 23, 2021USD ($)ft² | Dec. 21, 2021USD ($) | Dec. 17, 2021USD ($) | Nov. 30, 2021USD ($)ft² | Nov. 17, 2021USD ($)ft² | Nov. 16, 2021USD ($)ft² | Oct. 28, 2021USD ($)ft² | Oct. 20, 2021USD ($)ft² | Oct. 07, 2021USD ($)ft² | Sep. 30, 2021USD ($) | Sep. 29, 2021USD ($) | Sep. 28, 2021USD ($)ft² | Sep. 15, 2021USD ($)ft² | Aug. 31, 2021USD ($) | Aug. 23, 2021USD ($) | Jul. 09, 2021USD ($)ft² | Jul. 02, 2021USD ($)ft² | Jun. 24, 2021USD ($)ft² | May 03, 2021USD ($) | Feb. 23, 2021USD ($)ft² | Feb. 02, 2021USD ($)ft² | Jan. 21, 2021USD ($)ft² | Dec. 31, 2020USD ($) | Dec. 11, 2020USD ($)ft² | Oct. 23, 2020USD ($)ft² | Feb. 06, 2020USD ($)ft² | Jan. 29, 2020USD ($)ft² | Dec. 06, 2019USD ($)ft² | Dec. 05, 2019USD ($) | Aug. 23, 2019USD ($)ft² | Jul. 31, 2019USD ($) | Jul. 02, 2019USD ($)ft² | May 31, 2019USD ($)ft² | May 13, 2019USD ($) | Mar. 29, 2019USD ($)ft² |
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | $ 1,819,620 | $ 871,043 | ||||||||||||||||||||||||||||||||||||
Long-term Debt | 1,819,620 | |||||||||||||||||||||||||||||||||||||
Apartment Properties [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 600,728 | |||||||||||||||||||||||||||||||||||||
Fremont Distribution Center [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | |||||||||||||||||||||||||||||||||||||
Fremont Distribution Center [Member] | Industrial Properties [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 47,000 | |||||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 237,000 | |||||||||||||||||||||||||||||||||||||
Stonemeadow Farms [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 44,722 | 45,000 | ||||||||||||||||||||||||||||||||||||
Stonemeadow Farms [Member] | Apartment Properties [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 81,800 | |||||||||||||||||||||||||||||||||||||
3224 Trinity Boulevard [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | |||||||||||||||||||||||||||||||||||||
3224 Trinity Boulevard [Member] | Industrial Properties [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 16,150 | |||||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 145,000 | |||||||||||||||||||||||||||||||||||||
Genesee Plaza1 [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 39,285 | 40,221 | ||||||||||||||||||||||||||||||||||||
Genesee Plaza1 [Member] | Office Properties [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 89,500 | |||||||||||||||||||||||||||||||||||||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 4.30% | |||||||||||||||||||||||||||||||||||||
Loans Payable | $ 41,546 | |||||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 161,000 | |||||||||||||||||||||||||||||||||||||
Summit at San Marcos [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 35,900 | 35,900 | ||||||||||||||||||||||||||||||||||||
Summit at San Marcos [Member] | Apartment Properties [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 71,750 | |||||||||||||||||||||||||||||||||||||
Taunton [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | |||||||||||||||||||||||||||||||||||||
Taunton [Member] | Industrial Properties [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 25,700 | |||||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 200,000 | |||||||||||||||||||||||||||||||||||||
Presley Uptown [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 30,000 | 30,000 | ||||||||||||||||||||||||||||||||||||
Presley Uptown [Member] | Apartment Properties [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 55,250 | |||||||||||||||||||||||||||||||||||||
Chandler Distribution [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | |||||||||||||||||||||||||||||||||||||
Chandler Distribution [Member] | Industrial Properties [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 31,000 | |||||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 211,000 | |||||||||||||||||||||||||||||||||||||
The Villas at Legacy [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 29,500 | 29,500 | ||||||||||||||||||||||||||||||||||||
Jory Trail at the Grove [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 42,793 | 43,600 | ||||||||||||||||||||||||||||||||||||
The Reserve at Johns Creek Walk [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 26,000 | 26,000 | ||||||||||||||||||||||||||||||||||||
Montecito Marketplace [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | |||||||||||||||||||||||||||||||||||||
Mason Mill Distribution Center [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 17,500 | 17,500 | ||||||||||||||||||||||||||||||||||||
San Juan Medical Center [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 16,730 | 16,730 | ||||||||||||||||||||||||||||||||||||
Tampa Distribution Center [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | |||||||||||||||||||||||||||||||||||||
Aurora Distribution Center [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 13,441 | 13,716 | ||||||||||||||||||||||||||||||||||||
Lane Parke Apartments [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 37,000 | 37,000 | ||||||||||||||||||||||||||||||||||||
Silverstone Marketplace [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | |||||||||||||||||||||||||||||||||||||
Dylan Point Loma [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 40,319 | 40,500 | ||||||||||||||||||||||||||||||||||||
6000 Giant Road- Pinole Point Industrial Portfolio [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | |||||||||||||||||||||||||||||||||||||
6025 Giant Road- Pinole Point Industrial Portfolio [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | |||||||||||||||||||||||||||||||||||||
The Penfield [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 35,500 | 35,500 | ||||||||||||||||||||||||||||||||||||
Kierland Village [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | |||||||||||||||||||||||||||||||||||||
Skokie Commons [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 23,627 | 24,120 | ||||||||||||||||||||||||||||||||||||
Townlake of Coppell [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 6,000 | |||||||||||||||||||||||||||||||||||||
Loans Payable | $ 2,880 | |||||||||||||||||||||||||||||||||||||
Notes Payable | 36,030 | 0 | ||||||||||||||||||||||||||||||||||||
AQ Rittenhouse [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 26,370 | 26,370 | ||||||||||||||||||||||||||||||||||||
140 Park Avenue [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | 22,800 | ||||||||||||||||||||||||||||||||||||
Maui Mall [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 36,322 | 37,122 | ||||||||||||||||||||||||||||||||||||
Fountainhead Corporate Park [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | |||||||||||||||||||||||||||||||||||||
Fountainhead Corporate Park [Member] | Industrial Properties [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 61,500 | |||||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 295,000 | |||||||||||||||||||||||||||||||||||||
Fort Worth Distribution Center | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | |||||||||||||||||||||||||||||||||||||
Fort Worth Distribution Center | Industrial Properties [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 24,050 | |||||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 351,000 | |||||||||||||||||||||||||||||||||||||
4993 Anson Blvd Whitestown | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 17,000 | |||||||||||||||||||||||||||||||||||||
Milford Crossing | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | |||||||||||||||||||||||||||||||||||||
Milford Crossing | Retail Segment [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 42,100 | |||||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 159,000 | |||||||||||||||||||||||||||||||||||||
Whitestown | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 34,000 | 0 | ||||||||||||||||||||||||||||||||||||
Whitestown | Industrial Properties [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 62,300 | |||||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 720,000 | |||||||||||||||||||||||||||||||||||||
Louisville Distribution Center | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 52,250 | 0 | ||||||||||||||||||||||||||||||||||||
Louisville Distribution Center | Industrial Segment [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 95,000 | |||||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 1,040,000 | |||||||||||||||||||||||||||||||||||||
170 Park Ave | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | |||||||||||||||||||||||||||||||||||||
170 Park Ave | Office Segment [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 46,600 | |||||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 147,000 | |||||||||||||||||||||||||||||||||||||
Southeast Phoenix Distribution Center | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 49,000 | 0 | ||||||||||||||||||||||||||||||||||||
Southeast Phoenix Distribution Center | Industrial Segment [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 91,000 | |||||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 474,000 | |||||||||||||||||||||||||||||||||||||
Princeton North Andover | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 39,900 | 0 | ||||||||||||||||||||||||||||||||||||
Princeton North Andover | Apartments Segment [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 72,500 | |||||||||||||||||||||||||||||||||||||
Louisville Airport Distribution Center | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | |||||||||||||||||||||||||||||||||||||
Louisville Airport Distribution Center | Industrial Segment [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 32,100 | |||||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 284,000 | |||||||||||||||||||||||||||||||||||||
Bixby Industrial Portfolio | Industrial Segment [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 41,100 | $ 32,000 | $ 36,640 | |||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 152,000 | 130,000 | 153,000 | |||||||||||||||||||||||||||||||||||
Preserve at the Meadows | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 32,400 | 0 | ||||||||||||||||||||||||||||||||||||
Preserve at the Meadows | Apartments Segment [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 61,000 | |||||||||||||||||||||||||||||||||||||
The Rockwell | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 46,310 | 0 | ||||||||||||||||||||||||||||||||||||
The Rockwell | Apartments Segment [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 84,000 | |||||||||||||||||||||||||||||||||||||
9101 Stony Point Drive | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | |||||||||||||||||||||||||||||||||||||
9101 Stony Point Drive | Office Segment [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 52,000 | |||||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 87,000 | |||||||||||||||||||||||||||||||||||||
Patriot Park | Industrial Segment [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 66,750 | |||||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 375,000 | |||||||||||||||||||||||||||||||||||||
Miramont Apartments | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 27,629 | 0 | ||||||||||||||||||||||||||||||||||||
Miramont Apartments | Apartments Segment [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 57,400 | |||||||||||||||||||||||||||||||||||||
Pinecone Apartments | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 25,355 | 0 | ||||||||||||||||||||||||||||||||||||
Pinecone Apartments | Apartments Segment [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 51,600 | |||||||||||||||||||||||||||||||||||||
North Tampa Surgery Center | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | |||||||||||||||||||||||||||||||||||||
North Tampa Surgery Center | Office Segment [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 8,500 | |||||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 13,000 | |||||||||||||||||||||||||||||||||||||
Friendship Distribution Center | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | |||||||||||||||||||||||||||||||||||||
Friendship Distribution Center | Industrial Segment [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 95,000 | |||||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 649,000 | |||||||||||||||||||||||||||||||||||||
South San Diego Distribution Center | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 72,500 | $ 0 | ||||||||||||||||||||||||||||||||||||
Long-term Debt | $ 72,500 | |||||||||||||||||||||||||||||||||||||
South San Diego Distribution Center | Industrial Segment [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 158,500 | |||||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 665,000 | |||||||||||||||||||||||||||||||||||||
Elgin Distribution Center | Industrial Segment [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 47,100 | |||||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 407,000 | |||||||||||||||||||||||||||||||||||||
South Louisville Distribution Center | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | |||||||||||||||||||||||||||||||||||||
South Louisville Distribution Center | Industrial Segment [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 39,500 | |||||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 327,000 | |||||||||||||||||||||||||||||||||||||
The Reserve at Venice | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | |||||||||||||||||||||||||||||||||||||
The Reserve at Venice | Apartments Segment [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 93,000 | |||||||||||||||||||||||||||||||||||||
Woodside Trumbull | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | |||||||||||||||||||||||||||||||||||||
Woodside Trumbull | Apartments Segment [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 98,000 | |||||||||||||||||||||||||||||||||||||
Durham Medical Office | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | |||||||||||||||||||||||||||||||||||||
Durham Medical Office | Office Segment [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 37,125 | |||||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 60,000 | |||||||||||||||||||||||||||||||||||||
Kansas City Medical Office - 1203 SW 7 Highway | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | |||||||||||||||||||||||||||||||||||||
Kansas City Medical Office - 1203 SW 7 Highway | Office Segment [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 3,400 | |||||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 10,000 | |||||||||||||||||||||||||||||||||||||
Kansas City Medical Office - 8600 NE 82nd Street | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | |||||||||||||||||||||||||||||||||||||
Kansas City Medical Office - 8600 NE 82nd Street | Office Segment [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 5,500 | |||||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 11,000 | |||||||||||||||||||||||||||||||||||||
South Reno Medical Center | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | |||||||||||||||||||||||||||||||||||||
South Reno Medical Center | Office Segment [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 14,025 | |||||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 32,000 | |||||||||||||||||||||||||||||||||||||
Roeland Park Medical Center | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | 0 | |||||||||||||||||||||||||||||||||||||
Roeland Park Medical Center | Office Segment [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 13,300 | |||||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 30,000 | |||||||||||||||||||||||||||||||||||||
Sugar Land Medical Center | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Notes Payable | $ 0 | |||||||||||||||||||||||||||||||||||||
Sugar Land Medical Center | Office Segment [Member] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||
Business Acquisition, Transaction Costs | $ 18,350 | |||||||||||||||||||||||||||||||||||||
Area of Real Estate Property | ft² | 37,000 |
Property Table 2 - Purchase Pri
Property Table 2 - Purchase Price Allocation, proforma (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Business Acquisition [Line Items] | |||
Land | $ 598,564 | $ 428,313 | |
Investment Building and Building Improvements | $ 3,010,359 | $ 1,892,023 | |
Weighted Average Number of Outstanding Shares Basic and Diluted | 186,610,215 | 170,613,298 | 151,179,459 |
Assets | $ 4,402,246 | $ 2,658,599 | |
4001 North Norfleet Road [Member] | |||
Business Acquisition [Line Items] | |||
Land | 3,530 | ||
Investment Building and Building Improvements | 35,349 | ||
Assets | $ 39,326 | ||
Minimum [Member] | |||
Business Acquisition [Line Items] | |||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 5 months | 5 months | 1 month |
Maximum [Member] | |||
Business Acquisition [Line Items] | |||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 19 years | 15 years | 10 years |
Property, Plant and Equipment, Other Types [Member] | |||
Business Acquisition [Line Items] | |||
Land | $ 173,962 | $ 15,782 | $ 74,458 |
Investment Building and Building Improvements | 1,145,365 | 136,430 | 313,335 |
Finite-Lived Intangible Asset, Acquired-in-Place Leases | 135,278 | 35,345 | 32,312 |
Finite-Lived Intangible Asset, Off-market Lease, Favorable, Gross | 9,568 | 2,947 | 998 |
Off-market Lease, Unfavorable | (19,997) | (2,317) | (2,702) |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | $ (1,444,176) | $ (188,187) | $ 418,401 |
Property Table 3 - Schedule of
Property Table 3 - Schedule of Impairment on Real Estate (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | |||
Asset Impairment Charges | $ 1,822 | ||
Impairment of Real Estate | $ 1,822 | $ 0 | $ 0 |
Property Table 4 - Dispositions
Property Table 4 - Dispositions (Details) $ in Thousands | Jan. 08, 2021USD ($)ft² | Mar. 29, 2020USD ($)ft² | Feb. 07, 2019USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Long-term Debt | $ 1,819,620 | |||||
Gain (Loss) on Disposition of Property Plant Equipment | 33,422 | $ (1,772) | $ 106,871 | |||
Gains (Losses) on Extinguishment of Debt | 33,422 | (1,772) | $ 106,871 | |||
Land | 598,564 | 428,313 | ||||
Investment Building and Building Improvements | 3,010,359 | 1,892,023 | ||||
TOTAL ASSETS | 4,402,246 | 2,658,599 | ||||
TOTAL LIABILITIES | 2,558,130 | 1,211,176 | ||||
111 Sutter Street [Member] | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Proceeds from Sale of Real Estate | $ 227,000 | |||||
Extinguishment of Debt, Amount | 52,300 | |||||
Gains (Losses) on Sales of Investment Real Estate | $ 107,108 | |||||
South Seattle Distribution Center [Member] | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Area of Real Estate Property | ft² | 323,000 | |||||
Proceeds from Sale of Real Estate | $ 72,600 | |||||
Extinguishment of Debt, Amount | 17,841 | |||||
Gains (Losses) on Sales of Investment Real Estate | $ 33,580 | |||||
Land | 16,652 | |||||
Investment Building and Building Improvements | 16,237 | |||||
Other Assets | 1,616 | |||||
TOTAL ASSETS | 34,505 | |||||
Other Notes Payable | 17,811 | |||||
Other Liabilities | 430 | |||||
TOTAL LIABILITIES | $ 18,241 | |||||
24823 Anza Drive- Valencia Industrial Portfolio [Member] | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Area of Real Estate Property | ft² | 31,000 | |||||
Proceeds from Sale of Real Estate | $ 5,600 | |||||
Gains (Losses) on Sales of Investment Real Estate | $ 1,724 | |||||
4001 North Norfleet Road [Member] | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Land | 3,530 | |||||
Investment Building and Building Improvements | 35,349 | |||||
Other Assets | 447 | |||||
TOTAL ASSETS | 39,326 | |||||
Other Notes Payable | 0 | |||||
Other Liabilities | 271 | |||||
TOTAL LIABILITIES | $ 271 |
Unconsolidated Real Estate Af_3
Unconsolidated Real Estate Affiliates (Details Textual) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2021USD ($)ft² | Dec. 31, 2020USD ($)ft² | Dec. 31, 2019USD ($) | Aug. 05, 2021USD ($)Rate | Dec. 08, 2015USD ($) | |
Schedule of Equity Method Investments [Line Items] | |||||
Notes Payable | $ 1,819,620 | $ 871,043 | |||
Equity Method Investments | 217,044 | 187,890 | |||
Proceeds from Equity Method Investment, Distribution | 11,860 | 4,043 | $ 10,637 | ||
Proceeds from Equity Method Investment, Distribution, Return of Capital | 0 | 0 | 3,248 | ||
Real Estate Investments, Unconsolidated Real Estate and Other Joint Ventures | 352,905 | 79,192 | |||
Unconsolidated Real Estate Affiliates (Textual) [Abstract] | |||||
Investment Owned, at Fair Value | 35,700 | ||||
Payments to Acquire Interest in Subsidiaries and Affiliates | 247,394 | 8,802 | $ 3,779 | ||
Long-term Debt | 1,819,620 | ||||
GVI RH JV Investor LLC | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 47.00% | ||||
Madison NYC Core Retail Partners, L.P. [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 28.00% | ||||
Chicago Parking Garage [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Equity Method Investments | 13,992 | 14,000 | |||
Pioneer Tower [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Equity Method Investments | 103,529 | 108,715 | |||
The Tremont [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Equity Method Investments | 21,345 | 21,430 | |||
The Huntington [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Equity Method Investments | 10,773 | 11,549 | |||
NYC Retail Portfolio [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) | 4,021 | 15,869 | |||
Real Estate Property Ownership Percentage | 14.00% | ||||
Real Estate Investments, Unconsolidated Real Estate and Other Joint Ventures | $ 84,874 | $ 79,192 | $ 85,600 | ||
Unconsolidated Real Estate Affiliates (Textual) [Abstract] | |||||
Area of unconsolidated real estate property sold | ft² | 74,000 | ||||
Area of Real Estate Property | ft² | 1,940,000 | ||||
Payments to Acquire Interest in Subsidiaries and Affiliates | $ 1,661 | $ 1,661 | |||
SFR Portfolio | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Proceeds from Equity Method Investment, Distribution | 4,145 | ||||
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) | 61,945 | ||||
Real Estate Investments, Unconsolidated Real Estate and Other Joint Ventures | $ 268,031 | $ 205,000 | |||
Unconsolidated Real Estate Affiliates (Textual) [Abstract] | |||||
Long-term Debt | $ 760,000 | ||||
Debt, Weighted Average Interest Rate | Rate | 2.10% |
Unconsolidated Real Estate Af_4
Unconsolidated Real Estate Affiliates (Details) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2021USD ($)ft² | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 08, 2015 | |
Real Estate Properties [Line Items] | |||||
Cash and Cash Equivalents, at Carrying Value | $ 70,273 | $ 84,805 | $ 77,056 | ||
Equity Method Investments | 217,044 | 187,890 | |||
SUMMARIZED COMBINED BALANCE SHEETS-UNCONSOLIDATED REAL ESTATE AFFILIATES | |||||
Real Estate Investment Property, Net | 3,958,836 | 2,401,733 | |||
Acquired intangible assets, net | 216,227 | 105,206 | |||
TOTAL ASSETS | 4,402,246 | 2,658,599 | |||
Notes Payable | 1,817,664 | 868,102 | |||
Acquired intangible liabilities, net | 31,022 | 14,990 | |||
TOTAL LIABILITIES | 2,558,130 | 1,211,176 | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 1,844,116 | 1,447,423 | 1,498,757 | $ 1,187,292 | |
Liabilities and Equity | 4,402,246 | 2,658,599 | |||
Investment Building and Building Improvements | 3,010,359 | 1,892,023 | |||
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | 217,044 | 187,890 | |||
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract] | |||||
Revenues | 239,338 | 193,621 | 174,279 | ||
Operating Costs and Expenses | 244,809 | 175,795 | 152,029 | ||
Interest Expense | 48,230 | 40,668 | 36,185 | ||
Unrealized Gain (Loss) on Investments | 65,966 | 15,869 | |||
Net income (loss) | 50,652 | (44,065) | 100,002 | ||
Impairment of Real Estate | 1,822 | 0 | 0 | ||
Net income (loss) attributable to Jones Lang LaSalle Income Property Trust, Inc. | 49,121 | (44,006) | 99,933 | ||
NYC Retail Portfolio [Member] | |||||
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract] | |||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 49.00% | ||||
Unconsolidated Real Estate Affiliates [Member] | |||||
SUMMARIZED COMBINED BALANCE SHEETS-UNCONSOLIDATED REAL ESTATE AFFILIATES | |||||
Real Estate Investment Property, Net | 408,233 | 296,930 | |||
Acquired intangible assets, net | 10,139 | 12,653 | |||
Other Assets | 8,433 | 6,803 | |||
TOTAL ASSETS | 426,805 | 316,386 | |||
Notes Payable | 182,318 | 110,104 | |||
Acquired intangible liabilities, net | 3,933 | 2,821 | |||
Other Liabilities | 2,266 | 3,200 | |||
TOTAL LIABILITIES | 188,517 | 116,125 | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 238,288 | 200,261 | |||
Liabilities and Equity | 426,805 | 316,386 | |||
Proceeds from Other Equity | (19,858) | (10,969) | |||
Investment Building and Building Improvements | (1,386) | (1,402) | |||
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract] | |||||
Revenues | 24,862 | 18,978 | 21,057 | ||
Operating Costs and Expenses | 22,868 | 17,792 | 17,014 | ||
Net income (loss) | 2,592 | 1,708 | (1,183) | ||
Noncontrolling Interest in Net Income (Loss) Other Noncontrolling Interests, Nonredeemable | (186) | (368) | (351) | ||
Net income (loss) attributable to Jones Lang LaSalle Income Property Trust, Inc. | 2,778 | 2,076 | (832) | ||
The Tremont [Member] | |||||
Real Estate Properties [Line Items] | |||||
Equity Method Investments | 21,345 | 21,430 | |||
NYC Retail Portfolio [Member] | |||||
Real Estate Properties [Line Items] | |||||
Investments, Fair Value Disclosure | 1,666,923 | 290,830 | |||
Cash and Cash Equivalents, at Carrying Value | 19,650 | 3,158 | |||
SUMMARIZED COMBINED BALANCE SHEETS-UNCONSOLIDATED REAL ESTATE AFFILIATES | |||||
Other Assets | 55,562 | 202 | |||
TOTAL ASSETS | 1,742,135 | 294,190 | |||
TOTAL LIABILITIES | 823,503 | 7,405 | |||
Partners' Capital | 918,632 | 286,785 | |||
Liabilities and Equity | 1,742,135 | 294,190 | |||
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract] | |||||
Revenues | 31,945 | 2,261 | 6,001 | ||
Net Investment Income | 4,025 | (28) | 4,128 | ||
Unrealized Gain (Loss) on Investments | 162,207 | (57,323) | 15,292 | ||
Net income (loss) | $ 166,232 | (57,351) | 19,420 | ||
Area of Real Estate Property | ft² | 1,940,000 | ||||
Unconsolidated Real Estate Affiliates [Member] | |||||
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract] | |||||
Operating Income (Loss) | $ 1,994 | 1,186 | 4,043 | ||
Interest Expense | (4,586) | 2,894 | $ 2,860 | ||
The Huntington [Member] | |||||
Real Estate Properties [Line Items] | |||||
Equity Method Investments | 10,773 | 11,549 | |||
Chicago Parking Garage [Member] | |||||
Real Estate Properties [Line Items] | |||||
Equity Method Investments | 13,992 | 14,000 | |||
Siena Suwanee | |||||
Real Estate Properties [Line Items] | |||||
Equity Method Investments | 30,685 | 32,196 | |||
Kingston at McLean Crossing | |||||
Real Estate Properties [Line Items] | |||||
Equity Method Investments | 36,720 | $ 0 | |||
SFR Portfolio | |||||
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract] | |||||
Equity Method Investment, Working Capital Fund | 909 | ||||
Equity Method Investment, Closing Costs | $ 343 |
Table 1 - Schedule of Mortgages
Table 1 - Schedule of Mortgages ... (Details) - USD ($) $ in Thousands | Mar. 17, 2021 | Mar. 08, 2021 | Dec. 31, 2021 | Oct. 28, 2021 | Dec. 31, 2020 | Jul. 02, 2019 |
Summary of mortgage notes payable | ||||||
Total mortgage notes | $ 1,819,620 | $ 871,043 | ||||
Revolving Line of Credit | 0 | |||||
Debt Issuance Costs, Net | (1,956) | (2,941) | ||||
Mortgage notes payable, net | 1,817,664 | 868,102 | ||||
Long-term Debt | 1,819,620 | |||||
Term Loan | 100,000 | |||||
Grand Prairie Distribution Center [Member] | ||||||
Summary of mortgage notes payable | ||||||
Total mortgage notes | $ 0 | |||||
The Reserve at Johns Creek Walk [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Dec. 1, 2029 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.58% | |||||
Total mortgage notes | $ 26,000 | 26,000 | ||||
Townlake of Coppell [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Apr. 10, 2028 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 2.41% | |||||
Total mortgage notes | $ 36,030 | 0 | ||||
Suwanne Distribution Center [Member] | ||||||
Summary of mortgage notes payable | ||||||
Total mortgage notes | $ 0 | |||||
140 Park Avenue [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Mar. 1, 2021 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.00% | |||||
Total mortgage notes | $ 0 | 22,800 | ||||
Repayments of Debt | $ 22,800 | |||||
Monument IV at Worldgate [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Feb. 1, 2023 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.13% | |||||
Total mortgage notes | $ 0 | 40,000 | ||||
Repayments of Debt | $ 40,000 | |||||
Aurora Distribution Center [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Jun. 1, 2023 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.39% | |||||
Total mortgage notes | $ 13,441 | 13,716 | ||||
180 N Jefferson [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Jul. 1, 2023 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.89% | |||||
Total mortgage notes | $ 45,000 | 45,000 | ||||
Grand Lakes Marketplace [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Oct. 1, 2023 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.20% | |||||
Total mortgage notes | $ 23,900 | 23,900 | ||||
Oak Grove Plaza [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Feb. 1, 2024 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.17% | |||||
Total mortgage notes | $ 8,915 | 9,154 | ||||
Charlotte Distribution Center [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Sep. 1, 2024 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.66% | |||||
Total mortgage notes | $ 9,341 | 9,556 | ||||
Jory Trail at the Grove [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Feb. 1, 2025 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.81% | |||||
Total mortgage notes | $ 42,793 | 43,600 | ||||
Skokie Commons [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Jun. 1, 2025 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.31% | |||||
Total mortgage notes | $ 23,627 | 24,120 | ||||
DFW Distribution Center [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Jun. 1, 2025 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.23% | |||||
Total mortgage notes | $ 17,720 | 17,720 | ||||
AQ Rittenhouse [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Sep. 1, 2025 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.65% | |||||
Total mortgage notes | $ 26,370 | 26,370 | ||||
Timberland Town Center [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Oct. 1, 2025 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.07% | |||||
Total mortgage notes | $ 20,253 | 20,746 | ||||
Maui Mall [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Jun. 1, 2026 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.64% | |||||
Total mortgage notes | $ 36,322 | 37,122 | ||||
Rancho Temecula Town Center [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Jul. 1, 2026 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.02% | |||||
Total mortgage notes | $ 28,000 | 28,000 | ||||
Dylan Point Loma [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Sep. 1, 2026 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.83% | |||||
Total mortgage notes | $ 40,319 | 40,500 | ||||
Lane Parke Apartments [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Nov. 1, 2026 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.18% | |||||
Total mortgage notes | $ 37,000 | 37,000 | ||||
The Penfield [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Oct. 1, 2030 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 2.50% | |||||
Total mortgage notes | $ 35,500 | 35,500 | ||||
Genesee Plaza1 [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Jan. 1, 2025 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.30% | |||||
Total mortgage notes | $ 39,285 | 40,221 | ||||
Stonemeadow Farms [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Aug. 1, 2029 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.62% | |||||
Total mortgage notes | $ 44,722 | 45,000 | ||||
Presley Uptown [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Nov. 1, 2029 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.25% | |||||
Total mortgage notes | $ 30,000 | 30,000 | ||||
The Villas at Legacy [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Jan. 1, 2031 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 2.53% | |||||
Total mortgage notes | $ 29,500 | 29,500 | ||||
Summit at San Marcos [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | May 1, 2030 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.28% | |||||
Total mortgage notes | $ 35,900 | 35,900 | ||||
Mason Mill Distribution Center [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Oct. 1, 2030 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.25% | |||||
Total mortgage notes | $ 17,500 | 17,500 | ||||
San Juan Medical Center [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Oct. 1, 2027 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.35% | |||||
Total mortgage notes | $ 16,730 | 16,730 | ||||
Whitestone Market | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Dec. 1, 2025 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.58% | |||||
Total mortgage notes | $ 25,750 | 25,750 | ||||
Miramont Apartments | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Mar. 1, 2026 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.87% | |||||
Total mortgage notes | $ 27,629 | 0 | ||||
Pinecone Apartments | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Mar. 1, 2026 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.87% | |||||
Total mortgage notes | $ 25,355 | 0 | ||||
Louisville Distribution Center | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | May 1, 2026 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 1.76% | |||||
Total mortgage notes | $ 52,250 | 0 | ||||
237 Via Vera Cruz | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Sep. 1, 2026 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 1.50% | |||||
Total mortgage notes | $ 11,880 | 0 | ||||
4211 Starboard Drive | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Sep. 1, 2026 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 1.50% | |||||
Total mortgage notes | $ 20,612 | 0 | ||||
13500 Danielson Street | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Sep. 1, 2026 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 1.50% | |||||
Total mortgage notes | $ 10,990 | 0 | ||||
2840 Loker Ave | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Sep. 1, 2026 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 1.50% | |||||
Total mortgage notes | $ 14,316 | 0 | ||||
15890 Bernardo Center | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Sep. 1, 2026 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 1.50% | |||||
Total mortgage notes | $ 8,702 | 0 | ||||
The District at Howell Mill [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Mar. 1, 2027 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.30% | |||||
Total mortgage notes | $ 28,858 | 29,638 | ||||
Whitestown | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Feb. 10, 2028 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 2.95% | |||||
Total mortgage notes | $ 34,000 | 0 | ||||
Southeast Phoenix Distribution Center | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Jun. 1, 2028 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 2.70% | |||||
Total mortgage notes | $ 49,000 | 0 | ||||
Princeton North Andover | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Jun. 1, 2028 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 1.65% | |||||
Total mortgage notes | $ 39,900 | 0 | ||||
South San Diego Distribution Center | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Jan. 1, 2031 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.18% | |||||
Total mortgage notes | $ 72,500 | 0 | ||||
Long-term Debt | $ 72,500 | |||||
Preserve at the Meadows | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Oct. 1, 2031 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 2.57% | |||||
Total mortgage notes | $ 32,400 | 0 | ||||
The Rockwell | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Oct. 1, 2031 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 2.62% | |||||
Total mortgage notes | $ 46,310 | 0 | ||||
Office Properties [Member] | Genesee Plaza1 [Member] | ||||||
Summary of mortgage notes payable | ||||||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 4.30% | |||||
Revolving Credit Facility [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | May 25, 2024 | |||||
Revolving Line of Credit | 0 | |||||
Term Loan [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | May 25, 2024 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 1.70% | |||||
Term Loan | 100,000 | |||||
Bridge Loan | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Maturity Date | Dec. 10, 2022 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 1.75% | |||||
Bridge Loan | $ 100,000 | 0 | ||||
Revolving Credit Facility [Member] | ||||||
Summary of mortgage notes payable | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.75% | |||||
Revolving Line of Credit | $ 300,000 | |||||
Term Loan | 235,000 | |||||
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | South Seattle Distribution Center [Member] | ||||||
Summary of mortgage notes payable | ||||||
Total mortgage notes | 0 | 17,873 | ||||
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations | ||||||
Summary of mortgage notes payable | ||||||
Total mortgage notes | 0 | $ 17,873 | ||||
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations | The Edge at Lafayette [Member] | ||||||
Summary of mortgage notes payable | ||||||
Total mortgage notes | 0 | |||||
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations | 4001 North Norfleet Road [Member] | ||||||
Summary of mortgage notes payable | ||||||
Total mortgage notes | $ 0 |
Mortgage Notes Payable Table _2
Mortgage Notes Payable Table 2 - Schedule of Debt Premium / Discount (Details) $ in Thousands | Dec. 31, 2021USD ($) |
Summary of Assumed Debt Premium / Discount [Line Items] | |
Debt Instrument, Unamortized Discount (Premium), Net | $ 6,941 |
The District at Howell Mill [Member] | |
Summary of Assumed Debt Premium / Discount [Line Items] | |
Debt Instrument, Unamortized Discount (Premium), Net | $ (1,035) |
Debt Instrument, Interest Rate, Effective Percentage | 6.34% |
Jory Trail at the Grove [Member] | |
Summary of Assumed Debt Premium / Discount [Line Items] | |
Debt Instrument, Unamortized Discount (Premium), Net | $ (80) |
Debt Instrument, Interest Rate, Effective Percentage | 3.94% |
Genesee Plaza1 [Member] | |
Summary of Assumed Debt Premium / Discount [Line Items] | |
Debt Instrument, Unamortized Discount (Premium), Net | $ 991 |
Debt Instrument, Interest Rate, Effective Percentage | 4.30% |
Timberland Town Center [Member] | |
Summary of Assumed Debt Premium / Discount [Line Items] | |
Debt Instrument, Unamortized Discount (Premium), Net | $ 382 |
Debt Instrument, Interest Rate, Effective Percentage | 3.34% |
Pinecone Apartments | |
Summary of Assumed Debt Premium / Discount [Line Items] | |
Debt Instrument, Unamortized Discount (Premium), Net | $ 1,572 |
Debt Instrument, Interest Rate, Effective Percentage | 2.33% |
Miramont Apartments | |
Summary of Assumed Debt Premium / Discount [Line Items] | |
Debt Instrument, Unamortized Discount (Premium), Net | $ 1,712 |
Debt Instrument, Interest Rate, Effective Percentage | 2.33% |
South San Diego Distribution Center | |
Summary of Assumed Debt Premium / Discount [Line Items] | |
Debt Instrument, Unamortized Discount (Premium), Net | $ 3,399 |
Debt Instrument, Interest Rate, Effective Percentage | 3.18% |
Table 3 - Summary of Aggregat_2
Table 3 - Summary of Aggregate Princip... (Details) $ in Thousands | Dec. 31, 2021USD ($) |
Aggregate principal payments of mortgage notes payable | |
2022 | $ 107,812 |
2023 | 89,890 |
2024 | 559,917 |
2025 | 192,296 |
2026 | 308,023 |
Thereafter | 561,682 |
Long-term Debt | $ 1,819,620 |
Mortgage Notes Payable Text Det
Mortgage Notes Payable Text Detail (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | May 26, 2017 | |
Debt Instrument [Line Items] | |||
Debt Instrument, Collateral Amount | $ 2,421,000 | $ 1,642,000 | |
Revolving Line of Credit, Maximum Borrowing Capacity | $ 415,000 | ||
Term Loan, Maximum Borrowing Capacity | 235,000 | ||
Term Loan | 100,000 | ||
Revolving Line of Credit | 0 | ||
Amortization of Debt Issuance Costs | $ 8,024 | 6,749 | |
Revolving Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 650,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 1.75% | ||
Term Loan | $ 235,000 | ||
Debt Instrument, Interest Rate During Period | 3.68% | ||
Revolving Line of Credit | $ 300,000 | ||
Revolving Credit Facility [Member] | Swap | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Basis Spread on Variable Rate | 2.08% | ||
Revolving Credit Facility [Member] | Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Basis Spread on Variable Rate | 1.40% | ||
Revolving Credit Facility [Member] | Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Basis Spread on Variable Rate | 2.10% | ||
Term Loan [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate During Period | 3.40% | ||
Derivative, Fixed Interest Rate | 1.60% | ||
Term Loan [Member] | Swap | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Basis Spread on Variable Rate | 1.80% | ||
Term Loan [Member] | Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Basis Spread on Variable Rate | 1.35% | ||
Term Loan [Member] | Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Basis Spread on Variable Rate | 2.05% | ||
Bridge Loan | |||
Debt Instrument [Line Items] | |||
Bridge Loan | $ 100 | ||
Term Loan [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 1.70% | ||
Term Loan | 100,000 | ||
Revolving Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Revolving Line of Credit | $ 0 |
Common Stock Fees (Details)
Common Stock Fees (Details) - shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Class of Stock [Line Items] | |||
Issuance of common stock (in shares) | 44,071,596 | 28,718,218 | 37,588,047 |
Stock Repurchased During Period, Shares | (11,151,942) | (21,372,888) | (10,000,352) |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 20,000 | 16,000 | |
Class A-I Shares [Member] | |||
Class of Stock [Line Items] | |||
Dealer Manager Fee | 0.30% | ||
Class M-I Shares [Member] | |||
Class of Stock [Line Items] | |||
Issuance of common stock (in shares) | 20,521,787 | ||
Dealer Manager Fee | 0.00% | ||
Class D Shares [Member] | |||
Class of Stock [Line Items] | |||
Dealer Manager Fee | 0.00% | ||
Common Stock [Member] | |||
Class of Stock [Line Items] | |||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 11,298 | ||
Conversion of Stock, Shares Issued | (1,285) | (2,435) | |
Common Stock [Member] | Class A Shares [Member] | |||
Class of Stock [Line Items] | |||
Issuance of common stock (in shares) | 16,945,256 | 13,533,380 | 20,389,402 |
Stock Repurchased During Period, Shares | (6,327,886) | (11,333,773) | (3,271,008) |
Dealer Manager Fee | 0.85% | ||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 0 | 0 | 0 |
Conversion of Stock, Shares Issued | (250,104) | (536,232) | |
Common Stock [Member] | Class M Shares [Member] | |||
Class of Stock [Line Items] | |||
Issuance of common stock (in shares) | 3,590,727 | 2,453,336 | 5,356,380 |
Stock Repurchased During Period, Shares | (1,937,556) | (5,009,716) | (4,889,772) |
Dealer Manager Fee | 0.30% | ||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 0 | 0 | 0 |
Conversion of Stock, Shares Issued | (807,136) | (868,234) | |
Common Stock [Member] | Class A-I Shares [Member] | |||
Class of Stock [Line Items] | |||
Issuance of common stock (in shares) | 478,460 | 314,149 | 462,451 |
Stock Repurchased During Period, Shares | (738,450) | (1,878,636) | (453,781) |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 0 | 0 | 0 |
Conversion of Stock, Shares Issued | 0 | 27,219 | |
Common Stock [Member] | Class M-I Shares [Member] | |||
Class of Stock [Line Items] | |||
Issuance of common stock (in shares) | 12,417,353 | 11,379,814 | |
Stock Repurchased During Period, Shares | (2,148,050) | (3,150,763) | (73,227) |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 20,000 | 16,000 | 11,298 |
Conversion of Stock, Shares Issued | 1,055,955 | 1,374,812 | |
Common Stock [Member] | Class D Shares [Member] | |||
Class of Stock [Line Items] | |||
Issuance of common stock (in shares) | 2,555,366 | 0 | 0 |
Stock Repurchased During Period, Shares | 0 | 0 | (1,312,564) |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 0 | 0 | 0 |
Conversion of Stock, Shares Issued | 0 | 0 |
Common Stock (Details Textual)
Common Stock (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Class of Stock [Line Items] | |||
Stock Issued During Period, Shares, Dividend Reinvestment Plan | 4,726,012 | 5,653,314 | 4,133,544 |
Stock Issued During Period, Value, Dividend Reinvestment Plan | $ 59,133 | $ 66,990 | $ 50,309 |
Weighted Average Number of Outstanding Shares Basic and Diluted | 186,610,215 | 170,613,298 | 151,179,459 |
Reimbursement period for Organization and offering expenses made prior Offer Commencement date | 36 months | ||
Percentage of reimbursement of organization and offering expenses | 15.00% | ||
Reimbursement of organization and offering expenses | $ 1,138 | ||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 20,000 | 16,000 | |
Issuance of common stock (in shares) | 44,071,596 | 28,718,218 | 37,588,047 |
Stock Issued During Period, Value, New Issues | $ 545,702 | $ 345,912 | $ 460,833 |
Common Stock [Member] | |||
Class of Stock [Line Items] | |||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 11,298 | ||
Stock Issued During Period, Value, New Issues | 441 | 287 | $ 377 |
Class A Shares [Member] | |||
Class of Stock [Line Items] | |||
Stock Issued During Period, Value, New Issues | $ 210,810 | $ 164,020 | $ 250,822 |
Class A Shares [Member] | Common Stock [Member] | |||
Class of Stock [Line Items] | |||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 0 | 0 | 0 |
Issuance of common stock (in shares) | 16,945,256 | 13,533,380 | 20,389,402 |
Class M Shares [Member] | |||
Class of Stock [Line Items] | |||
Stock Issued During Period, Value, New Issues | $ 44,885 | $ 29,258 | $ 65,332 |
Class M Shares [Member] | Common Stock [Member] | |||
Class of Stock [Line Items] | |||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 0 | 0 | 0 |
Issuance of common stock (in shares) | 3,590,727 | 2,453,336 | 5,356,380 |
Class A-I Shares [Member] | |||
Class of Stock [Line Items] | |||
Stock Issued During Period, Value, New Issues | $ 6,077 | $ 3,736 | $ 5,674 |
Class A-I Shares [Member] | Common Stock [Member] | |||
Class of Stock [Line Items] | |||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 0 | 0 | 0 |
Issuance of common stock (in shares) | 478,460 | 314,149 | 462,451 |
Class M-I Shares [Member] | |||
Class of Stock [Line Items] | |||
Issuance of common stock (in shares) | 20,521,787 | ||
Stock Issued During Period, Value, New Issues | $ 254,168 | $ 149,090 | $ 139,143 |
Class M-I Shares [Member] | Common Stock [Member] | |||
Class of Stock [Line Items] | |||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 20,000 | 16,000 | 11,298 |
Issuance of common stock (in shares) | 12,417,353 | 11,379,814 | |
Class D Shares [Member] | |||
Class of Stock [Line Items] | |||
Stock Issued During Period, Value, New Issues | $ 30,000 | ||
Class D Shares [Member] | Common Stock [Member] | |||
Class of Stock [Line Items] | |||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 0 | 0 | 0 |
Issuance of common stock (in shares) | 2,555,366 | 0 | 0 |
OP Units | |||
Class of Stock [Line Items] | |||
Stock Issued During Period, Value, New Issues | $ 74,673 | $ 14,252 | |
OP Units | Common Stock [Member] | |||
Class of Stock [Line Items] | |||
Issuance of common stock (in shares) | 5,820,165 | 1,217,092 |
Common Stock Common Stock Sold
Common Stock Common Stock Sold (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Class of Stock [Line Items] | ||||
Stock Issued During Period, Shares, New Issues | 44,071,596 | 28,718,218 | 37,588,047 | |
Stock Repurchased During Period, Shares | 11,151,942 | 21,372,888 | 10,000,352 | |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 20,000 | 16,000 | ||
Sale of Stock, Consideration Received on Transaction | $ 545,940 | $ 346,104 | $ 460,971 | |
Stock Issued During Period, Value, New Issues | $ 545,702 | $ 345,912 | 460,833 | |
Class A Shares [Member] | ||||
Class of Stock [Line Items] | ||||
Common Stock, Shares, Outstanding | 100,038,362 | 89,671,096 | ||
Stock Issued During Period, Value, New Issues | $ 210,810 | $ 164,020 | 250,822 | |
Class M Shares [Member] | ||||
Class of Stock [Line Items] | ||||
Common Stock, Shares, Outstanding | 36,458,191 | 35,612,156 | ||
Stock Issued During Period, Value, New Issues | $ 44,885 | $ 29,258 | 65,332 | |
Class A-I Shares [Member] | ||||
Class of Stock [Line Items] | ||||
Common Stock, Shares, Outstanding | 9,356,309 | 9,616,299 | ||
Stock Issued During Period, Value, New Issues | $ 6,077 | $ 3,736 | 5,674 | |
Class M-I Shares [Member] | ||||
Class of Stock [Line Items] | ||||
Common Stock, Shares, Outstanding | 52,676,693 | 33,247,001 | ||
Stock Issued During Period, Shares, New Issues | 20,521,787 | |||
Stock Issued During Period, Value, New Issues | $ 254,168 | $ 149,090 | $ 139,143 | |
Class D Shares [Member] | ||||
Class of Stock [Line Items] | ||||
Common Stock, Shares, Outstanding | 7,513,281 | 4,957,915 | ||
Stock Issued During Period, Value, New Issues | $ 30,000 | |||
Common Stock [Member] | ||||
Class of Stock [Line Items] | ||||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 11,298 | |||
Conversion of Stock, Shares Issued | (1,285) | (2,435) | ||
Stock Issued During Period, Value, New Issues | $ 441 | $ 287 | $ 377 | |
Common Stock [Member] | Class A Shares [Member] | ||||
Class of Stock [Line Items] | ||||
Common Stock, Shares, Outstanding | 100,038,362 | 89,671,096 | 88,007,721 | 71,187,722 |
Stock Issued During Period, Shares, New Issues | 16,945,256 | 13,533,380 | 20,389,402 | |
Stock Repurchased During Period, Shares | 6,327,886 | 11,333,773 | 3,271,008 | |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 0 | 0 | 0 | |
Conversion of Stock, Shares Issued | (250,104) | (536,232) | ||
Common Stock [Member] | Class M Shares [Member] | ||||
Class of Stock [Line Items] | ||||
Common Stock, Shares, Outstanding | 36,458,191 | 35,612,156 | 39,036,770 | 39,869,130 |
Stock Issued During Period, Shares, New Issues | 3,590,727 | 2,453,336 | 5,356,380 | |
Stock Repurchased During Period, Shares | 1,937,556 | 5,009,716 | 4,889,772 | |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 0 | 0 | 0 | |
Conversion of Stock, Shares Issued | (807,136) | (868,234) | ||
Common Stock [Member] | Class A-I Shares [Member] | ||||
Class of Stock [Line Items] | ||||
Common Stock, Shares, Outstanding | 9,356,309 | 9,616,299 | 11,153,567 | 11,083,034 |
Stock Issued During Period, Shares, New Issues | 478,460 | 314,149 | 462,451 | |
Stock Repurchased During Period, Shares | 738,450 | 1,878,636 | 453,781 | |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 0 | 0 | 0 | |
Conversion of Stock, Shares Issued | 0 | 27,219 | ||
Common Stock [Member] | Common Class M-I [Member] | ||||
Class of Stock [Line Items] | ||||
Stock Issued During Period, Shares, New Issues | 20,501,787 | 12,433,353 | 11,391,112 | |
Common Stock [Member] | Class M-I Shares [Member] | ||||
Class of Stock [Line Items] | ||||
Common Stock, Shares, Outstanding | 52,676,693 | 33,247,001 | 22,589,599 | 9,738,086 |
Stock Issued During Period, Shares, New Issues | 12,417,353 | 11,379,814 | ||
Stock Repurchased During Period, Shares | 2,148,050 | 3,150,763 | 73,227 | |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 20,000 | 16,000 | 11,298 | |
Conversion of Stock, Shares Issued | 1,055,955 | 1,374,812 | ||
Common Stock [Member] | Class D Shares [Member] | ||||
Class of Stock [Line Items] | ||||
Common Stock, Shares, Outstanding | 7,513,281 | 4,957,915 | 4,957,915 | 6,270,479 |
Stock Issued During Period, Shares, New Issues | 2,555,366 | 0 | 0 | |
Stock Repurchased During Period, Shares | 0 | 0 | 1,312,564 | |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 0 | 0 | 0 | |
Conversion of Stock, Shares Issued | 0 | 0 |
Common Stock Repurchases (Detai
Common Stock Repurchases (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Class of Stock [Line Items] | |||
Stock Repurchased During Period, Shares | (11,151,942) | (21,372,888) | (10,000,352) |
Stock Repurchased During Period, Value | $ 135,246 | $ 255,355 | $ 121,822 |
Common Stock [Member] | |||
Class of Stock [Line Items] | |||
Stock Repurchased During Period, Value | $ 111 | $ (214) | $ 101 |
Common Stock [Member] | Class A Shares [Member] | |||
Class of Stock [Line Items] | |||
Stock Repurchased During Period, Shares | (6,327,886) | (11,333,773) | (3,271,008) |
Common Stock [Member] | Class M Shares [Member] | |||
Class of Stock [Line Items] | |||
Stock Repurchased During Period, Shares | (1,937,556) | (5,009,716) | (4,889,772) |
Common Stock [Member] | Class A-I Shares [Member] | |||
Class of Stock [Line Items] | |||
Stock Repurchased During Period, Shares | (738,450) | (1,878,636) | (453,781) |
Common Stock [Member] | Class M-I Shares [Member] | |||
Class of Stock [Line Items] | |||
Stock Repurchased During Period, Shares | (2,148,050) | (3,150,763) | (73,227) |
Common Stock [Member] | Class D Shares [Member] | |||
Class of Stock [Line Items] | |||
Stock Repurchased During Period, Shares | 0 | 0 | (1,312,564) |
Common Stock Earnings Per Share
Common Stock Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Class A Shares [Member] | |||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||
Net Income, before performance fee | $ 43,011 | $ (23,259) | $ 52,118 |
Noninterest Expense Related to Performance Fees | 17,269 | 0 | 0 |
Net Income (Loss) Available to Common Stockholders, Basic | $ 25,742 | $ (23,259) | $ 52,118 |
Weighted Average Number of Shares Outstanding, Basic and Diluted | 93,504,890 | 90,176,584 | 78,844,620 |
Earnings Per Share, Basic and Diluted | $ 0.28 | $ (0.26) | $ 0.66 |
Class M Shares [Member] | |||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||
Net Income, before performance fee | $ 16,231 | $ (9,465) | $ 26,958 |
Noninterest Expense Related to Performance Fees | 6,561 | 0 | 0 |
Net Income (Loss) Available to Common Stockholders, Basic | $ 9,670 | $ (9,465) | $ 26,958 |
Weighted Average Number of Shares Outstanding, Basic and Diluted | 35,291,400 | 36,694,995 | 40,782,711 |
Earnings Per Share, Basic and Diluted | $ 0.27 | $ (0.26) | $ 0.66 |
Class A-I Shares [Member] | |||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||
Net Income, before performance fee | $ 4,360 | $ (2,598) | $ 7,315 |
Noninterest Expense Related to Performance Fees | 1,712 | 0 | 0 |
Net Income (Loss) Available to Common Stockholders, Basic | $ 2,648 | $ (2,598) | $ 7,315 |
Weighted Average Number of Shares Outstanding, Basic and Diluted | 9,484,119 | 10,073,075 | 11,066,621 |
Earnings Per Share, Basic and Diluted | $ 0.28 | $ (0.26) | $ 0.66 |
Class M-I Shares [Member] | |||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||
Net Income, before performance fee | $ 18,960 | $ (7,405) | $ 9,987 |
Noninterest Expense Related to Performance Fees | 8,992 | 0 | 0 |
Net Income (Loss) Available to Common Stockholders, Basic | $ 9,968 | $ (7,405) | $ 9,987 |
Weighted Average Number of Shares Outstanding, Basic and Diluted | 41,229,584 | 28,710,729 | 15,108,522 |
Earnings Per Share, Basic and Diluted | $ 0.24 | $ (0.26) | $ 0.66 |
Class D Shares [Member] | |||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||
Net Income, before performance fee | $ 3,262 | $ (1,279) | $ 3,555 |
Noninterest Expense Related to Performance Fees | 1,408 | 0 | 0 |
Net Income (Loss) Available to Common Stockholders, Basic | $ 1,854 | $ (1,279) | $ 3,555 |
Weighted Average Number of Shares Outstanding, Basic and Diluted | 7,100,222 | 4,957,915 | 5,376,985 |
Earnings Per Share, Basic and Diluted | $ 0.26 | $ (0.26) | $ 0.66 |
Common Stock Dividends Declar_2
Common Stock Dividends Declared (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Distributions Declared [Line Items] | |||||||||||||||
Common Stock, Dividends, Per Share, Declared | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.17500 | $ 0.13500 | $ 0.13500 | $ 0.54000 | $ 0.54000 | $ 0.58000 |
Class A Shares [Member] | |||||||||||||||
Distributions Declared [Line Items] | |||||||||||||||
Dividends | $ 0.11092 | $ 0.11189 | $ 0.11294 | $ 0.11326 | $ 0.11280 | $ 0.11282 | $ 0.11239 | $ 0.11211 | $ 0.11189 | $ 0.15184 | $ 0.11214 | $ 0.11216 | $ 0.44901 | $ 0.45012 | $ 0.48803 |
Class M Shares [Member] | |||||||||||||||
Distributions Declared [Line Items] | |||||||||||||||
Dividends | 0.12637 | 0.12666 | 0.12696 | 0.12715 | 0.12719 | 0.12661 | 0.12683 | 0.12649 | 0.12600 | 0.16642 | 0.12643 | 0.12662 | 0.50714 | 0.50712 | 0.54547 |
Class M-I Shares [Member] | |||||||||||||||
Distributions Declared [Line Items] | |||||||||||||||
Dividends | 0.13500 | 0.13500 | 0.13500 | 0.13500 | 0.13500 | 0.13500 | 0.13500 | 0.13500 | 0.13500 | 0.17500 | 0.13500 | 0.13500 | 0.54000 | 0.54000 | 0.58000 |
Class A-I Shares [Member] | |||||||||||||||
Distributions Declared [Line Items] | |||||||||||||||
Dividends | 0.12675 | 0.12644 | 0.12710 | 0.12726 | 0.12715 | 0.12632 | 0.12753 | 0.12681 | 0.12674 | 0.16660 | 0.12653 | 0.12653 | 0.50755 | 0.50781 | 0.54640 |
Class D Shares [Member] | |||||||||||||||
Distributions Declared [Line Items] | |||||||||||||||
Dividends | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.17500 | $ 0.13500 | $ 0.13500 | $ 0.54000 | $ 0.54000 | $ 0.58000 |
DST Program (Details)
DST Program (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Oct. 16, 2019 |
Variable Interest Entity [Line Items] | |||
Common Stock, Value, Outstanding | $ 3,565,671 | ||
DST Program [Member] | |||
Variable Interest Entity [Line Items] | |||
common stock, value authorized during DST offering | $ 1,000,000 | ||
Deferred Costs | 449 | ||
Common Stock, Value, Outstanding | 454,090 | ||
DST Program [Member] | Master Lease | |||
Variable Interest Entity [Line Items] | |||
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | 8,603 | $ 1,271 | |
DST Program [Member] | Certain Properties | |||
Variable Interest Entity [Line Items] | |||
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | $ 1,987 |
Rentals Under Operating Lease_2
Rentals Under Operating Leases Rentals Under Operating Leases (Details) $ in Thousands | Dec. 31, 2021USD ($) |
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract] | |
Lessor, Operating Lease, Payment to be Received, Year One | $ 193,511 |
Lessor, Operating Lease, Payment to be Received, Year Two | 150,970 |
Lessor, Operating Lease, Payment to be Received, Year Three | 128,099 |
Lessor, Operating Lease, Payment to be Received, Year Four | 115,781 |
Lessor, Operating Lease, Payment to be Received, Year Five | 100,469 |
Lessor, Operating Lease, Payment to be Received, after Year Five | 372,690 |
Lessor, Operating Lease, Payments to be Received | $ 1,061,520 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Related Party Transactions (Textual) [Abstract] | |||
Payments of Stock Issuance Costs | $ 16,792 | $ 17,592 | $ 19,299 |
Accrued Offering Costs | 137,776 | 106,908 | |
Related Party Transactions (Additional Textual) [Abstract] | |||
Property management services expense paid | $ 1,222 | 741 | 1,608 |
Fixed fee [Member] | |||
Related Party Transactions (Textual) [Abstract] | |||
Management and Advisory fee percentage on NAV | 1.25% | ||
Management and Advisory fees | $ 28,956 | 25,274 | 23,026 |
Manager and advisory fees payable | $ 2,998 | 2,122 | |
performance fee [Member] | |||
Related Party Transactions (Textual) [Abstract] | |||
Management and Advisory fee percentage on NAV | 10.00% | ||
Noninterest Expense Related to Performance Fees | $ 36,711 | 0 | 0 |
Manager and advisory fees payable | $ 36,711 | 0 | |
Hurdle Rate [Member] | |||
Related Party Transactions (Textual) [Abstract] | |||
Management and Advisory fee percentage on NAV | 7.00% | ||
Selling commission, Dealer Manager Fee, Distribution Fee [Member] | |||
Related Party Transactions (Textual) [Abstract] | |||
Payments of Stock Issuance Costs | $ 12,246 | 11,303 | 12,203 |
Accrued Offering Costs | 135,663 | 105,770 | |
Organization and Offering Costs [Member] | |||
Related Party Transactions (Textual) [Abstract] | |||
Payments of Stock Issuance Costs | $ 2,113 | 1,138 | |
Common Stock [Member] | |||
Related Party Transactions (Textual) [Abstract] | |||
DST Program Selling Commissions | 5.00% | ||
DST Program Dealer Manager Fee | 1.00% | ||
DST Program Placement Fees | 1.00% | ||
DST Program Fees | |||
Related Party Transactions (Textual) [Abstract] | |||
Payments of Stock Issuance Costs | $ 5,697 | 1,917 | |
Related Party Transactions (Additional Textual) [Abstract] | |||
DST Investor Servicing Fees | 754 | 100 | |
DST Advisor Fees | 463 | 62 | |
Stonemeadow Farms [Member] | |||
Related Party Transactions (Additional Textual) [Abstract] | |||
Payments for brokerage fees | 203 | ||
Presley Uptown [Member] | |||
Related Party Transactions (Additional Textual) [Abstract] | |||
Payments for brokerage fees | $ 146 | ||
The Villas at Legacy [Member] | |||
Related Party Transactions (Additional Textual) [Abstract] | |||
Payments for brokerage fees | 133 | ||
24823 Anza Drive- Valencia Industrial Portfolio [Member] | |||
Related Party Transactions (Additional Textual) [Abstract] | |||
Payments for brokerage fees | $ 75 | ||
Townlake of Coppell [Member] | |||
Related Party Transactions (Additional Textual) [Abstract] | |||
Payments for brokerage fees | 162 | ||
Louisville Airport Distribution Center | |||
Related Party Transactions (Additional Textual) [Abstract] | |||
Payments for brokerage fees | $ 209 |
Commitments and Contingencies (
Commitments and Contingencies (Details) $ in Thousands | Dec. 31, 2021USD ($) |
South Beach Parking Garage [Member] | |
Other Commitments [Line Items] | |
Other Commitment | $ 112 |
Segment Reporting (Details)
Segment Reporting (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Segment Reporting Information [Line Items] | |||
TOTAL ASSETS | $ 4,402,246 | $ 2,658,599 | |
Payments for Capital Improvements | 28,764 | 13,201 | $ 19,718 |
Operating Lease, Lease Income | 227,940 | 186,641 | 167,170 |
Total revenues | 239,338 | 193,621 | 174,279 |
Real estate taxes | 32,837 | 29,665 | 25,012 |
Property operating | 43,995 | 37,999 | 31,783 |
Operating Costs and Expenses | 244,809 | 175,795 | 152,029 |
General and Administrative Expense | 1,596 | 4,318 | 1,659 |
Noninterest Expense Investment Advisory Fees | 65,667 | 25,274 | 23,026 |
Company level expenses | 4,841 | 2,936 | 3,201 |
Impairment of Real Estate | 1,822 | 0 | 0 |
Depreciation and amortization | 94,051 | 75,603 | 67,348 |
Interest expense | (48,230) | (40,668) | (36,185) |
Equity in income of unconsolidated affiliates | 67,333 | (19,451) | 7,066 |
Gains (Losses) on Extinguishment of Debt | 33,422 | (1,772) | 106,871 |
Total other income and (expenses) | 56,123 | (61,891) | 77,752 |
Industrial Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
TOTAL ASSETS | 1,352,580 | 659,870 | |
Payments for Capital Improvements | 17,165 | 4,673 | 5,162 |
Operating Lease, Lease Income | 71,719 | 49,743 | 45,166 |
Recovery of Direct Costs | 367 | 323 | 469 |
Total revenues | 72,086 | 50,066 | 45,635 |
Real estate taxes | 10,505 | 8,218 | 7,395 |
Property operating | 5,783 | 4,121 | 3,701 |
Operating Costs and Expenses | 16,288 | 12,339 | 11,096 |
Office Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
TOTAL ASSETS | 479,306 | 277,556 | |
Payments for Capital Improvements | 4,284 | 2,589 | 584 |
Operating Lease, Lease Income | 33,178 | 27,239 | 18,918 |
Recovery of Direct Costs | 1,792 | 1,313 | 529 |
Total revenues | 34,970 | 28,552 | 19,447 |
Real estate taxes | 3,394 | 3,396 | 1,985 |
Property operating | 6,865 | 5,938 | 3,677 |
Operating Costs and Expenses | 10,259 | 9,334 | 5,662 |
Apartments Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
TOTAL ASSETS | 1,301,454 | 788,060 | |
Payments for Capital Improvements | 6,196 | 4,346 | 7,510 |
Operating Lease, Lease Income | 74,378 | 63,948 | 57,069 |
Recovery of Direct Costs | 5,534 | 3,474 | 3,179 |
Total revenues | 79,912 | 67,422 | 60,248 |
Real estate taxes | 12,500 | 11,476 | 10,120 |
Property operating | 22,619 | 19,643 | 16,465 |
Operating Costs and Expenses | 35,119 | 31,119 | 26,585 |
Retail Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
TOTAL ASSETS | 564,565 | 577,588 | |
Payments for Capital Improvements | 3,212 | 1,803 | 6,602 |
Operating Lease, Lease Income | 48,286 | 45,417 | 45,699 |
Recovery of Direct Costs | 1,117 | 572 | 728 |
Total revenues | 49,403 | 45,989 | 46,427 |
Real estate taxes | 5,979 | 6,193 | 5,063 |
Property operating | 7,973 | 7,583 | 7,117 |
Operating Costs and Expenses | 13,952 | 13,776 | 12,180 |
Other Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
TOTAL ASSETS | 23,412 | 22,134 | |
Payments for Capital Improvements | 16 | 119 | 16 |
Operating Lease, Lease Income | 379 | 294 | 318 |
Recovery of Direct Costs | 2,588 | 1,298 | 2,204 |
Total revenues | 2,967 | 1,592 | 2,522 |
Real estate taxes | 459 | 382 | 449 |
Property operating | 755 | 714 | 823 |
Operating Costs and Expenses | 1,214 | 1,096 | 1,272 |
Corporate and Other | |||
Segment Reporting Information [Line Items] | |||
TOTAL ASSETS | 3,721,317 | 2,325,208 | |
Payments for Capital Improvements | 30,873 | 13,530 | 19,874 |
Operating Lease, Lease Income | 227,940 | 186,641 | 167,170 |
Recovery of Direct Costs | 11,398 | 6,980 | 7,109 |
Total revenues | 239,338 | 193,621 | 174,279 |
Real estate taxes | 32,837 | 29,665 | 25,012 |
Property operating | 43,995 | 37,999 | 31,783 |
Operating Costs and Expenses | 76,832 | 67,664 | 56,795 |
Operating Income (Loss) | 152,029 | ||
Equity in income of unconsolidated affiliates | 67,333 | (19,451) | 7,066 |
Total other income and (expenses) | 56,123 | (61,891) | 77,752 |
Income (loss) from continuing operations | 50,652 | (44,065) | $ 100,002 |
Corporate [Member] | |||
Segment Reporting Information [Line Items] | |||
TOTAL ASSETS | $ 680,929 | $ 333,391 |
Comprehensive Text Block List_2
Comprehensive Text Block List (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Text Block [Abstract] | |||
Equity Securities, FV-NI, Cost | $ 40,273 | ||
Equity Securities, FV-NI, Unrealized Gain | 3,161 | ||
Equity Securities, FV-NI, Unrealized Loss | (228) | ||
Equity Securities, FV-NI, Unrealized Gain (Loss) | 2,933 | $ 0 | $ 0 |
Equity Securities, FV-NI, Current | 43,206 | ||
Proceeds from Sale and Maturity of Marketable Securities | 5,347 | $ 0 | $ 0 |
Equity Securities, FV-NI, Realized Gain | 352 | ||
Equity Securities, FV-NI, Realized Loss | $ (105) |
Distributions Payable (Details)
Distributions Payable (Details) - $ / shares | 3 Months Ended | 12 Months Ended | ||||||||||||||
Mar. 31, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Distributions Payable (Textual) [Abstract] | ||||||||||||||||
Common Stock, Dividends, Per Share, Declared | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.17500 | $ 0.13500 | $ 0.13500 | $ 0.54000 | $ 0.54000 | $ 0.58000 | |
Subsequent Event [Member] | ||||||||||||||||
Distributions Payable (Textual) [Abstract] | ||||||||||||||||
Distribution declared date | Feb. 28, 2022 | |||||||||||||||
Common Stock, Dividends, Per Share, Declared | $ 0.14 | |||||||||||||||
Distribution recorded date | Mar. 24, 2022 | |||||||||||||||
Distribution payable date | Mar. 30, 2022 |
Quarterly Financial Information
Quarterly Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Class of Stock [Line Items] | |||
Revenues | $ 239,338 | $ 193,621 | $ 174,279 |
Net Income (Loss) Attributable to Parent | $ 49,121 | $ (44,006) | $ 99,933 |
Weighted Average Number of Outstanding Shares Basic and Diluted | 186,610,215 | 170,613,298 | 151,179,459 |
Class A Shares [Member] | |||
Class of Stock [Line Items] | |||
Earnings Per Share, Basic and Diluted | $ 0.28 | $ (0.26) | $ 0.66 |
Class M Shares [Member] | |||
Class of Stock [Line Items] | |||
Earnings Per Share, Basic and Diluted | 0.27 | (0.26) | 0.66 |
Class A-I Shares [Member] | |||
Class of Stock [Line Items] | |||
Earnings Per Share, Basic and Diluted | 0.28 | (0.26) | 0.66 |
Class M-I Shares [Member] | |||
Class of Stock [Line Items] | |||
Earnings Per Share, Basic and Diluted | 0.24 | (0.26) | 0.66 |
Class D Shares [Member] | |||
Class of Stock [Line Items] | |||
Earnings Per Share, Basic and Diluted | $ 0.26 | $ (0.26) | $ 0.66 |
Subsequent Events (Details Text
Subsequent Events (Details Textual) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||||||
Mar. 31, 2022USD ($)$ / shares | Dec. 31, 2021$ / shares | Sep. 30, 2021$ / shares | Jun. 30, 2021$ / shares | Mar. 31, 2021$ / shares | Dec. 31, 2020$ / shares | Sep. 30, 2020$ / shares | Jun. 30, 2020$ / shares | Mar. 31, 2020$ / shares | Dec. 31, 2019$ / shares | Sep. 30, 2019$ / shares | Jun. 30, 2019$ / shares | Mar. 31, 2019$ / shares | Dec. 31, 2021$ / shares | Dec. 31, 2020$ / shares | Dec. 31, 2019$ / shares | Jan. 24, 2022ft² | Jan. 06, 2022ft² | |
Subsequent Event [Line Items] | ||||||||||||||||||
Common Stock, Dividends, Per Share, Declared | $ / shares | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.13500 | $ 0.17500 | $ 0.13500 | $ 0.13500 | $ 0.54000 | $ 0.54000 | $ 0.58000 | |||
Subsequent Event [Member] | ||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||
Dividends Payable, Date Declared | Feb. 28, 2022 | |||||||||||||||||
Common Stock, Dividends, Per Share, Declared | $ / shares | $ 0.14 | |||||||||||||||||
Dividends Payable, Date of Record | Mar. 24, 2022 | |||||||||||||||||
Dividends Payable, Date to be Paid | Mar. 30, 2022 | |||||||||||||||||
Subsequent Event [Member] | Industrial Properties [Member] | 4001 North Norfleet Road [Member] | ||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||
Area of Real Estate Property | ft² | 702,000 | |||||||||||||||||
Proceeds from Sale of Property Held-for-sale | $ 60,375 | |||||||||||||||||
Gain (Loss) on Sale of Properties | 34,000 | |||||||||||||||||
Subsequent Event [Member] | Apartments Segment [Member] | The Edge at Lafayette [Member] | ||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||
Area of Real Estate Property | ft² | 207,000 | |||||||||||||||||
Proceeds from Sale of Property Held-for-sale | $ 16,500 |
Schedule III - Real Estate an_2
Schedule III - Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | $ 1,819,620 | $ 871,043 | ||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 1,184,620 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 597,967 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,919,107 | |||
Real estate aggregate cost for tax purposes | 2,330,580 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 597 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 91,037 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 598,564 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 3,010,359 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 3,608,923 | 2,320,336 | $ 2,200,514 | $ 1,797,585 |
real estate accumulated depreciation tax basis | 301,026 | |||
Summit at San Marcos [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 35,900 | 35,900 | ||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 6,401 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 63,335 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 37 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,401 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 63,372 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 69,773 | |||
Presley Uptown [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 30,000 | 30,000 | ||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 7,390 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 46,479 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 259 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,390 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 46,738 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 54,128 | |||
Monument IV at Worldgate [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | 40,000 | ||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 5,186 | |||
105 Kendall Park Lane [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Suwanne Distribution Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Grand Prairie Distribution Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Charlotte Distribution Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 9,341 | 9,556 | ||
DFW Distribution Center 4050 [Member] [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 12,147 | |||
DFW Distribution Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 17,720 | 17,720 | ||
DFW Distribution Center 4055 [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 5,573 | |||
O'Hare Industrial Portfolio - 2501 Allan Drive [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
O'Hare Industrial Portfolio - 2601 Allan Drive [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
O'Hare Industrial Portfolio - 1300 Michael Drive [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
O'Hare Industrial Portfolio - 1350 Michael Drive [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
O'Hare Industrial Portfolio - 1225 Michael Drive [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
O'Hare Industrial Portfolio - 200 Lewis [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
O'Hare Industrial Portfolio - 1301 Mittel Drive [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Tampa Distribution Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Aurora Distribution Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 13,441 | 13,716 | ||
28150 West Harrison Parkway-Valencia Industrial Portfolio [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
28145 West Harrison Parkway- Valencia Industrial Portfolio [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
28904 Avenue Paine- Valencia Industrial Portfolio [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
25045 Avenue Tibbitts- Valencia Industrial Portfolio [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
6000 Giant Road- Pinole Point Industrial Portfolio [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
6015 Giant Road- Pinole Point Industrial Portfolio [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Mason Mill Distribution Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 17,500 | 17,500 | ||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,406 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 23,312 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | (123) | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,406 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 23,189 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 26,595 | |||
Fremont Distribution Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 29,427 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,024 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 1,782 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 29,427 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 8,806 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 38,233 | |||
3224 Trinity Boulevard [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,215 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 11,255 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | (13) | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,215 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 11,242 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 14,457 | |||
Taunton [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 21,589 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 220 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 21,809 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 23,809 | |||
Chandler Distribution [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,803 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 24,095 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 272 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,803 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 24,367 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 28,170 | |||
6025 Giant Road- Pinole Point Industrial Portfolio [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Townlake of Coppell [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 36,030 | 0 | ||
Lane Parke Apartments [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 37,000 | 37,000 | ||
AQ Rittenhouse [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 26,370 | 26,370 | ||
Dylan Point Loma [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 40,319 | 40,500 | ||
The Penfield [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 35,500 | 35,500 | ||
180 N Jefferson [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 45,000 | 45,000 | ||
The Reserve at Johns Creek Walk [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 26,000 | 26,000 | ||
The Villas at Legacy [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 29,500 | 29,500 | ||
Stonemeadow Farms [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 44,722 | 45,000 | ||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 14,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 65,535 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 1,952 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 14,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 67,487 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 81,487 | |||
Jory Trail at the Grove [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 42,793 | 43,600 | ||
Silverstone Marketplace [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
South Beach Parking Garage [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Grand Lakes Marketplace [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 23,900 | 23,900 | ||
Oak Grove Plaza [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 8,915 | 9,154 | ||
Rancho Temecula Town Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 28,000 | 28,000 | ||
Skokie Commons [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 23,627 | 24,120 | ||
The District at Howell Mill [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 28,858 | 29,638 | ||
140 Park Avenue [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | 22,800 | ||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,162 | |||
San Juan Medical Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 16,730 | 16,730 | ||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 9,807 | |||
Genesee Plaza1 [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 39,285 | 40,221 | ||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 8,222 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 73,964 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 676 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 8,222 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 74,640 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 82,862 | |||
Maui Mall [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 36,322 | 37,122 | ||
Kierland Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Timberland Town Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 20,253 | 20,746 | ||
Montecito Marketplace [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Fort Worth Distribution Center | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,059 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 21,053 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 1,296 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,059 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 22,349 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 25,408 | |||
5102 E 500 South Whitestown | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,460 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 28,049 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | (80) | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,460 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 27,969 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 31,429 | |||
4993 Anson Blvd Whitestown | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 17,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,197 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,224 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | (59) | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,197 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 20,165 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 22,362 | |||
Fountainhead Corporate Park [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 5,942 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 36,301 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 4,246 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,942 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 40,547 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 46,489 | |||
Milford Crossing | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Louisville Distribution Center | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 52,250 | 0 | ||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 9,028 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 66,792 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 4,161 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,028 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 70,953 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 79,981 | |||
Princeton North Andover | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 39,900 | 0 | ||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 8,140 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 63,156 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 106 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 8,140 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 63,262 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 71,402 | |||
South San Diego Distribution Center | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 72,500 | 0 | ||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 18,496 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 123,682 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 18,496 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 123,682 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 142,178 | |||
Pinecone Apartments | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 25,355 | 0 | ||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 8,558 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 43,833 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 30 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 8,558 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 43,863 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 52,421 | |||
The Reserve at Venice | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 5,500 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 86,125 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,500 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 86,125 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 91,625 | |||
Woodside Trumbull | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 4,654 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 91,755 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,654 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 91,755 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 96,409 | |||
6511 West Frye Road | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 12,250 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,102 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 15,511 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 1,654 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,102 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 17,165 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 19,267 | |||
6565 West Frye Road | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 12,250 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,451 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,807 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,451 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 18,807 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 21,258 | |||
6615 West Frye Road | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 12,250 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,799 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,030 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,799 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 18,030 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 20,829 | |||
6677 West Frye Road | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 12,250 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,451 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,662 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 37 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,451 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 18,699 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 21,150 | |||
5 National Way | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 6,846 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 21,233 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 490 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,846 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 21,723 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 28,569 | |||
47 National Way | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 6,840 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,401 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 2,103 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,840 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 22,504 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 29,344 | |||
2451 Bath Road - Elgin Distribution Center | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 4,247 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 26,182 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | (63) | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,247 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 26,119 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 30,366 | |||
1755 Britannia Drive - Elgin Distribution Center | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,046 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 10,522 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | (16) | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,046 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,506 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 11,552 | |||
South Louisville Distribution Center | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,462 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 33,393 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,462 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 33,393 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 35,855 | |||
Louisville Airport Distribution Center | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,843 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 26,812 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,843 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 26,812 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 29,655 | |||
Friendship Distribution Center | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 7,082 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 80,654 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 4 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,082 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 80,658 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 87,740 | |||
170 Park Ave | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 4,612 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 38,337 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 3 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,612 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 38,340 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 42,952 | |||
South Reno Medical Center | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,029 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 9,882 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,029 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 9,882 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 10,911 | |||
North Tampa Surgery Center | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,227 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,069 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | (4) | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,227 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 5,065 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 6,292 | |||
Kansas City Medical Office - 1203 SW 7 Highway | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 171 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,355 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 171 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 2,355 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 2,526 | |||
Kansas City Medical Office - 8600 NE 82nd Street | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 143 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,519 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 143 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 3,519 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 3,662 | |||
Sugar Land Medical Center | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,449 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 9,943 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | (20) | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,449 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 9,923 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 12,372 | |||
Roeland Park Medical Center | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,057 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 8,182 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,057 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 8,182 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 9,239 | |||
Durham Medical Office | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 974 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 29,575 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 974 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 29,575 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 30,549 | |||
9101 Stony Point Drive | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,980 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 37,939 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,980 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 37,939 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 41,919 | |||
Preserve at the Meadows | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 32,400 | 0 | ||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 9,656 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 53,870 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 52 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,656 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 53,922 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 63,578 | |||
The Rockwell | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 46,310 | 0 | ||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 7,501 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 75,403 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 4 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,501 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 75,407 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 82,908 | |||
Miramont Apartments | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 27,629 | 0 | ||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 9,217 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 49,005 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 23 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,217 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 49,028 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 58,245 | |||
13500 Danielson Street | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 10,990 | 0 | ||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 7,624 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 11,503 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 54 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,624 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 11,557 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 19,181 | |||
237 Via Vera Cruz | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 11,880 | 0 | ||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 5,421 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 8,581 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 39 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,421 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 8,620 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 14,041 | |||
4211 Starboard Drive | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 20,612 | 0 | ||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 13,409 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 13,872 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 92 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 13,409 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 13,964 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 27,373 | |||
2840 Loker Ave | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 14,316 | 0 | ||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 7,631 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,030 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 73 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,631 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 16,103 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 23,734 | |||
15890 Bernardo Center | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 8,702 | 0 | ||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,316 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 11,715 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 38 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,316 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 11,753 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 14,069 | |||
Office Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 56,015 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 47,961 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 360,166 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 26,040 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 47,961 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 386,206 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 434,167 | |||
Office Properties [Member] | Monument IV at Worldgate [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 57,013 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 20,014 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,186 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 77,027 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 82,213 | |||
Office Properties [Member] | 140 Park Avenue [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 34,784 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | (4) | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,162 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 34,780 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 37,942 | |||
Office Properties [Member] | San Juan Medical Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 13,303 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 1,129 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,807 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 14,432 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 24,239 | |||
Retail Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 195,625 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 128,031 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 426,257 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 890 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 21,283 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 128,921 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 447,540 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 576,461 | |||
Retail Properties [Member] | Silverstone Marketplace [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 8,012 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 33,771 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 220 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 8,012 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 33,991 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 42,003 | |||
Retail Properties [Member] | Grand Lakes Marketplace [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 5,215 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 34,770 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 87 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,215 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 34,857 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 40,072 | |||
Retail Properties [Member] | Oak Grove Plaza [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 4,434 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,869 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 832 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,434 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 19,701 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 24,135 | |||
Retail Properties [Member] | Rancho Temecula Town Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 14,600 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 41,180 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 1,079 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 14,600 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 42,259 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 56,859 | |||
Retail Properties [Member] | Skokie Commons [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 8,859 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 25,705 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 890 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 183 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,749 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 25,888 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 35,637 | |||
Retail Properties [Member] | The District at Howell Mill [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 10,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 56,040 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 6,179 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 10,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 62,219 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 72,219 | |||
Retail Properties [Member] | Whitestone Market [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 7,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 39,868 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 534 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 40,402 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 47,402 | |||
Retail Properties [Member] | Maui Mall [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 44,257 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 39,454 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 11,210 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 44,257 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 50,664 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 94,921 | |||
Retail Properties [Member] | Kierland Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 7,037 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 26,693 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 326 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,037 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 27,019 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 34,056 | |||
Retail Properties [Member] | Timberland Town Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 6,083 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 33,826 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 444 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,083 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 34,270 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 40,353 | |||
Retail Properties [Member] | Montecito Marketplace [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 11,410 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 45,212 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 352 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,410 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 45,564 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 56,974 | |||
Retail Properties [Member] | Milford Crossing | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,124 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 30,869 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | (163) | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,124 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 30,706 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 31,830 | |||
Industrial Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 332,252 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 248,488 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 979,619 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | (293) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 18,879 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 248,195 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 998,498 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 1,246,693 | |||
Industrial Properties [Member] | 105 Kendall Park Lane [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,656 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,836 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | (293) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 279 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,363 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 13,115 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 15,478 | |||
Industrial Properties [Member] | Suwanne Distribution Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 6,155 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 27,598 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 68 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,155 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 27,666 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 33,821 | |||
Industrial Properties [Member] | Grand Prairie Distribution Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,100 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,478 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 404 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,100 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 12,882 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 14,982 | |||
Industrial Properties [Member] | Charlotte Distribution Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 5,381 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 15,002 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 372 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,381 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 15,374 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 20,755 | |||
Industrial Properties [Member] | DFW Distribution Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 5,200 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,327 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 1,357 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,200 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 19,684 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 24,884 | |||
Industrial Properties [Member] | DFW Distribution Center 4055 [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,400 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,377 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 1,566 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,400 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 13,943 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 16,343 | |||
Industrial Properties [Member] | O'Hare Industrial Portfolio - 2501 Allan Drive [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 4,300 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 10,926 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 661 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,300 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 11,587 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 15,887 | |||
Industrial Properties [Member] | O'Hare Industrial Portfolio - 2601 Allan Drive [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,600 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,726 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 179 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,600 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,905 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 10,505 | |||
Industrial Properties [Member] | O'Hare Industrial Portfolio - 1300 Michael Drive [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,900 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,770 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 380 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,900 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,150 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 9,050 | |||
Industrial Properties [Member] | O'Hare Industrial Portfolio - 1350 Michael Drive [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,500 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,059 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 283 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,500 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 5,342 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 6,842 | |||
Industrial Properties [Member] | O'Hare Industrial Portfolio - 1225 Michael Drive [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,600 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,149 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 127 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,600 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,276 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 9,876 | |||
Industrial Properties [Member] | O'Hare Industrial Portfolio - 200 Lewis [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,100 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 4,165 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 478 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,100 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 4,643 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 5,743 | |||
Industrial Properties [Member] | O'Hare Industrial Portfolio - 1301 Mittel Drive [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,700 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,473 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 141 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,700 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 5,614 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 8,314 | |||
Industrial Properties [Member] | Tampa Distribution Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,507 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 22,485 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 84 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,507 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 22,569 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 26,076 | |||
Industrial Properties [Member] | Aurora Distribution Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 9,861 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 14,646 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,861 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 14,646 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 24,507 | |||
Industrial Properties [Member] | 28150 West Harrison Parkway-Valencia Industrial Portfolio [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,760 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 8,899 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 279 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,760 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 9,178 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 11,938 | |||
Industrial Properties [Member] | 28145 West Harrison Parkway- Valencia Industrial Portfolio [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,468 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 10,111 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 20 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,468 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,131 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 13,599 | |||
Industrial Properties [Member] | 28904 Avenue Paine- Valencia Industrial Portfolio [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,812 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 10,535 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 428 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,812 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,963 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 14,775 | |||
Industrial Properties [Member] | 25045 Avenue Tibbitts- Valencia Industrial Portfolio [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 4,087 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 13,224 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 288 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,087 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 13,512 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 17,599 | |||
Industrial Properties [Member] | 6000 Giant Road- Pinole Point Industrial Portfolio [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 11,572 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 26,556 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 31 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,572 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 26,587 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 38,159 | |||
Industrial Properties [Member] | 6015 Giant Road- Pinole Point Industrial Portfolio [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 10,468 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 24,127 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | (1,004) | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 10,468 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 23,123 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 33,591 | |||
Industrial Properties [Member] | 6025 Giant Road- Pinole Point Industrial Portfolio [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,700 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 4,167 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 497 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,700 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 4,664 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 7,364 | |||
Apartment Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 600,728 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 173,487 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,131,598 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 24,094 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 173,487 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,155,907 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 1,329,394 | |||
Apartment Properties [Member] | Townlake of Coppell [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 8,444 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 36,805 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 3,175 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 8,444 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 39,980 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 48,424 | |||
Apartment Properties [Member] | Lane Parke Apartments [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 5,100 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 66,428 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 934 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,100 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 67,362 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 72,462 | |||
Apartment Properties [Member] | AQ Rittenhouse [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 11,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 39,963 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | (182) | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 39,781 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 50,781 | |||
Apartment Properties [Member] | Dylan Point Loma [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 19,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 70,860 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | (527) | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 19,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 70,333 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 89,333 | |||
Apartment Properties [Member] | The Penfield [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 8,021 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 52,713 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 1,238 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 8,021 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 53,951 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 61,972 | |||
Apartment Properties [Member] | The Reserve at Johns Creek Walk [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 7,552 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 38,025 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 839 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,552 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 38,864 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 46,416 | |||
Apartment Properties [Member] | The Villas at Legacy [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 6,888 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 48,504 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 3,759 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,888 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 52,263 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 59,151 | |||
Apartment Properties [Member] | 180 North Jefferson [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 18,588 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 75,435 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 8,280 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 18,588 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 83,715 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 102,303 | |||
Apartment Properties [Member] | Jory Trail at the Grove [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 7,877 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 64,369 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 4,330 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,877 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 68,699 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 76,576 | |||
Other Property [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 21,467 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 741 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 22,208 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 22,208 | |||
Other Property [Member] | South Beach Parking Garage [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 21,467 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | 741 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 22,208 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 22,208 | |||
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | $ 17,873 | ||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,916 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 54,663 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | (387) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | (10,655) | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,529 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 44,008 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 47,537 | |||
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations | 4001 North Norfleet Road [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,134 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 31,397 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | (205) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | (1,914) | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,929 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 29,483 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | 31,412 | |||
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations | The Edge at Lafayette [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Notes Payable | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,782 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 23,266 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land | (182) | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements | (8,741) | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,600 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 14,525 | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | $ 16,125 |
Schedule III - Real Estate an_3
Schedule III - Real Estate and Accumulated Depreciation Table 2 (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (259,362) | $ (219,833) | $ (176,236) | $ (135,480) |
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation, Other Deduction | (4,939) | $ (3,419) | $ 0 | |
Industrial Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | (56,248) | |||
Industrial Properties [Member] | 105 Kendall Park Lane [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (4,345) | |||
Real Estate and Accumulated Depreciation, Construction | 2002 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jun. 30, 2005 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Industrial Properties [Member] | Suwanne Distribution Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (4,712) | |||
Real Estate and Accumulated Depreciation, Construction | 2012 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jun. 28, 2013 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Industrial Properties [Member] | Grand Prairie Distribution Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (2,056) | |||
Real Estate and Accumulated Depreciation, Construction | 1980 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Dec. 18, 2013 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Industrial Properties [Member] | Charlotte Distribution Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (2,919) | |||
Real Estate and Accumulated Depreciation, Construction | 2013 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jan. 22, 2014 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Industrial Properties [Member] | DFW Distribution Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (3,095) | |||
Real Estate and Accumulated Depreciation, Construction | 1991 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jun. 27, 2014 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Industrial Properties [Member] | DFW Distribution Center 4055 [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (2,465) | |||
Real Estate and Accumulated Depreciation, Construction | 1996 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Apr. 15, 2015 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Industrial Properties [Member] | O'Hare Industrial Portfolio - 2501 Allan Drive [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (1,841) | |||
Real Estate and Accumulated Depreciation, Construction | 1996 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Apr. 15, 2015 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Industrial Properties [Member] | O'Hare Industrial Portfolio - 2601 Allan Drive [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (1,286) | |||
Real Estate and Accumulated Depreciation, Construction | 1985 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Sep. 30, 2015 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Industrial Properties [Member] | O'Hare Industrial Portfolio - 1300 Michael Drive [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (1,119) | |||
Real Estate and Accumulated Depreciation, Construction | 1985 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Sep. 30, 2015 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Industrial Properties [Member] | O'Hare Industrial Portfolio - 1350 Michael Drive [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (856) | |||
Real Estate and Accumulated Depreciation, Construction | 1985 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Sep. 30, 2015 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Industrial Properties [Member] | O'Hare Industrial Portfolio - 1225 Michael Drive [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (1,134) | |||
Real Estate and Accumulated Depreciation, Construction | 1985 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Sep. 30, 2015 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Industrial Properties [Member] | O'Hare Industrial Portfolio - 200 Lewis [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (1,035) | |||
Real Estate and Accumulated Depreciation, Construction | 1985 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Sep. 30, 2015 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Industrial Properties [Member] | O'Hare Industrial Portfolio - 1301 Mittel Drive [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (879) | |||
Real Estate and Accumulated Depreciation, Construction | 1985 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Sep. 30, 2015 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Industrial Properties [Member] | Tampa Distribution Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (3,267) | |||
Real Estate and Accumulated Depreciation, Construction | 1985 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Sep. 30, 2015 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Industrial Properties [Member] | Aurora Distribution Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (1,635) | |||
Real Estate and Accumulated Depreciation, Construction | 2009 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Apr. 11, 2016 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Industrial Properties [Member] | 28150 West Harrison Parkway-Valencia Industrial Portfolio [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (1,235) | |||
Real Estate and Accumulated Depreciation, Construction | 2016 | |||
Real Estate and Accumulated Depreciation, Date Acquired | May 19, 2016 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Industrial Properties [Member] | 28145 West Harrison Parkway- Valencia Industrial Portfolio [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (1,407) | |||
Real Estate and Accumulated Depreciation, Construction | 1997 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jun. 29, 2016 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Industrial Properties [Member] | 28904 Avenue Paine- Valencia Industrial Portfolio [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (1,527) | |||
Real Estate and Accumulated Depreciation, Construction | 1997 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jun. 29, 2016 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Industrial Properties [Member] | 25045 Avenue Tibbitts- Valencia Industrial Portfolio [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (1,898) | |||
Real Estate and Accumulated Depreciation, Construction | 1988 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jun. 29, 2016 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Industrial Properties [Member] | 6000 Giant Road- Pinole Point Industrial Portfolio [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (2,834) | |||
Real Estate and Accumulated Depreciation, Construction | 1988 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jun. 29, 2016 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Industrial Properties [Member] | 6015 Giant Road- Pinole Point Industrial Portfolio [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (2,463) | |||
Real Estate and Accumulated Depreciation, Construction | 2016 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Sep. 8, 2016 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Industrial Properties [Member] | 6025 Giant Road- Pinole Point Industrial Portfolio [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (473) | |||
Real Estate and Accumulated Depreciation, Construction | 2016 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Sep. 8, 2016 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Industrial Properties [Member] | Mason Mill Distribution Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (1,861) | |||
Real Estate and Accumulated Depreciation, Construction | 2016 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Dec. 29, 2016 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Industrial Properties [Member] | Fremont Distribution Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (797) | |||
Real Estate and Accumulated Depreciation, Construction | 1991 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Mar. 29, 2019 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Industrial Properties [Member] | 3224 Trinity Boulevard [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (726) | |||
Real Estate and Accumulated Depreciation, Construction | 2015 | |||
Real Estate and Accumulated Depreciation, Date Acquired | May 31, 2019 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Industrial Properties [Member] | Taunton [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (1,094) | |||
Real Estate and Accumulated Depreciation, Construction | 2016 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Aug. 23, 2019 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Industrial Properties [Member] | Chandler Distribution [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (1,022) | |||
Real Estate and Accumulated Depreciation, Construction | 2016 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Dec. 5, 2019 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Apartment Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (78,519) | |||
Apartment Properties [Member] | Townlake of Coppell [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (7,703) | |||
Real Estate and Accumulated Depreciation, Construction | 1986 | |||
Real Estate and Accumulated Depreciation, Date Acquired | May 22, 2015 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Apartment Properties [Member] | AQ Rittenhouse [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (5,232) | |||
Real Estate and Accumulated Depreciation, Construction | 2015 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jul. 30, 2015 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Apartment Properties [Member] | Lane Parke Apartments [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (7,868) | |||
Real Estate and Accumulated Depreciation, Construction | 2014 | |||
Real Estate and Accumulated Depreciation, Date Acquired | May 26, 2016 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Apartment Properties [Member] | Dylan Point Loma [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (7,696) | |||
Real Estate and Accumulated Depreciation, Construction | 2016 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Aug. 9, 2016 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Apartment Properties [Member] | The Penfield [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (6,182) | |||
Real Estate and Accumulated Depreciation, Construction | 2013 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Sep. 22, 2016 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Apartment Properties [Member] | 180 North Jefferson [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (11,871) | |||
Real Estate and Accumulated Depreciation, Construction | 2004 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Dec. 1, 2016 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Apartment Properties [Member] | Jory Trail at the Grove [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (7,720) | |||
Real Estate and Accumulated Depreciation, Construction | 2012 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jul. 14, 2017 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Apartment Properties [Member] | The Reserve at Johns Creek Walk [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (4,528) | |||
Real Estate and Accumulated Depreciation, Construction | 2007 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jul. 28, 2017 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Apartment Properties [Member] | The Villas at Legacy [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (5,834) | |||
Real Estate and Accumulated Depreciation, Construction | 1999 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jun. 6, 2018 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Apartment Properties [Member] | Stonemeadow Farms [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (4,894) | |||
Real Estate and Accumulated Depreciation, Construction | 1999 | |||
Real Estate and Accumulated Depreciation, Date Acquired | May 13, 2019 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Apartment Properties [Member] | Summit at San Marcos [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (3,926) | |||
Real Estate and Accumulated Depreciation, Construction | 2018 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jul. 31, 2019 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Apartment Properties [Member] | Presley Uptown [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (2,473) | |||
Real Estate and Accumulated Depreciation, Construction | 2016 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Sep. 30, 2019 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Office Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (47,032) | |||
Office Properties [Member] | San Juan Medical Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (1,827) | |||
Real Estate and Accumulated Depreciation, Construction | 2015 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Apr. 1, 2016 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Office Properties [Member] | Genesee Plaza1 [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (4,758) | |||
Real Estate and Accumulated Depreciation, Construction | 1983 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jul. 2, 2019 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Office Properties [Member] | Monument IV at Worldgate [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (33,092) | |||
Real Estate and Accumulated Depreciation, Construction | 2001 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Aug. 27, 2004 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Office Properties [Member] | 140 Park Avenue [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (4,174) | |||
Real Estate and Accumulated Depreciation, Construction | 2015 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Dec. 21, 2015 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Retail Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (72,944) | |||
Retail Properties [Member] | The District at Howell Mill [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (17,958) | |||
Real Estate and Accumulated Depreciation, Construction | 2006 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jun. 15, 2007 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Retail Properties [Member] | Grand Lakes Marketplace [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (5,834) | |||
Real Estate and Accumulated Depreciation, Construction | 2012 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Sep. 17, 2013 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Retail Properties [Member] | Oak Grove Plaza [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (4,110) | |||
Real Estate and Accumulated Depreciation, Construction | 2003 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jan. 17, 2014 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Retail Properties [Member] | Rancho Temecula Town Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (8,377) | |||
Real Estate and Accumulated Depreciation, Construction | 2007 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jun. 16, 2014 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Retail Properties [Member] | Skokie Commons [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (3,500) | |||
Real Estate and Accumulated Depreciation, Construction | 2015 | |||
Real Estate and Accumulated Depreciation, Date Acquired | May 15, 2015 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Retail Properties [Member] | Whitestone Market [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (6,467) | |||
Real Estate and Accumulated Depreciation, Construction | 2003 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Sep. 30, 2015 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Retail Properties [Member] | Maui Mall [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (9,521) | |||
Real Estate and Accumulated Depreciation, Construction | 1971 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Dec. 22, 2015 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Retail Properties [Member] | Silverstone Marketplace [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (3,693) | |||
Real Estate and Accumulated Depreciation, Construction | 2015 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jul. 27, 2016 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Retail Properties [Member] | Kierland Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (3,593) | |||
Real Estate and Accumulated Depreciation, Construction | 2001 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Sep. 30, 2016 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Retail Properties [Member] | Timberland Town Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (3,671) | |||
Real Estate and Accumulated Depreciation, Construction | 2015 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Sep. 30, 2016 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Retail Properties [Member] | Montecito Marketplace [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (5,053) | |||
Real Estate and Accumulated Depreciation, Construction | 2007 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Aug. 8, 2017 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Other Property [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (4,619) | |||
Other Property [Member] | South Beach Parking Garage [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | $ (4,619) | |||
Real Estate and Accumulated Depreciation, Construction | 2001 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jan. 28, 2014 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years |
Schedule III - Real Estate an_4
Schedule III - Real Estate and Accumulated Depreciation Table 3 (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross | $ 3,608,923 | $ 2,320,336 | $ 2,200,514 | $ 1,797,585 |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Improvements | 1,372,562 | 161,947 | 404,353 | |
Real Estate, Period Increase (Decrease) | (36,438) | (5,817) | (1,424) | |
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Other Deduction | $ (47,537) | $ (36,308) |
Schedule III - Real Estate an_5
Schedule III - Real Estate and Accumulated Depreciation Table 4 (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 259,362 | $ 219,833 | $ 176,236 | $ 135,480 |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation, Depreciation Expense | 49,966 | 49,134 | 42,180 | |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation, Investment in Real Estate Sold | (3,676) | (2,118) | (1,424) | |
Other Property [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | 4,619 | |||
Retail Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | 72,944 | |||
Office Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | 47,032 | |||
Industrial Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | 56,248 | |||
Apartment Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | 78,519 | |||
South Beach Parking Garage [Member] | Other Property [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 4,619 | |||
Real Estate and Accumulated Depreciation, Construction | 2001 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jan. 28, 2014 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Montecito Marketplace [Member] | Retail Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 5,053 | |||
Real Estate and Accumulated Depreciation, Construction | 2007 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Aug. 8, 2017 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Milford Crossing | Retail Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 1,167 | |||
Real Estate and Accumulated Depreciation, Construction | 2017 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jan. 29, 2020 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Genesee Plaza1 [Member] | Office Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 4,758 | |||
Real Estate and Accumulated Depreciation, Construction | 1983 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jul. 2, 2019 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Fountainhead Corporate Park [Member] | Office Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 1,999 | |||
Real Estate and Accumulated Depreciation, Construction | 1985 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Feb. 6, 2020 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Chandler Distribution [Member] | Industrial Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 1,022 | |||
Real Estate and Accumulated Depreciation, Construction | 2016 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Dec. 5, 2019 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Fort Worth Distribution Center | Industrial Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 512 | |||
Real Estate and Accumulated Depreciation, Construction | 2020 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Oct. 23, 2020 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
4993 Anson Blvd Whitestown | Industrial Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 437 | |||
Real Estate and Accumulated Depreciation, Construction | 2020 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Dec. 11, 2020 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
5102 E 500 South Whitestown | Industrial Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 606 | |||
Real Estate and Accumulated Depreciation, Construction | 2020 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Dec. 11, 2020 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Louisville Distribution Center | Industrial Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 1,544 | |||
Real Estate and Accumulated Depreciation, Construction | 2020 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jan. 21, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
6511 West Frye Road | Industrial Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 338 | |||
Real Estate and Accumulated Depreciation, Construction | 2019 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Feb. 23, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
6565 West Frye Road | Industrial Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 313 | |||
Real Estate and Accumulated Depreciation, Construction | 2019 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Feb. 23, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
6615 West Frye Road | Industrial Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 301 | |||
Real Estate and Accumulated Depreciation, Construction | 2019 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Feb. 23, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
6677 West Frye Road | Industrial Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 312 | |||
Real Estate and Accumulated Depreciation, Construction | 2019 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Feb. 23, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
5 National Way | Industrial Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 106 | |||
Real Estate and Accumulated Depreciation, Construction | 2020 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Sep. 28, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
47 National Way | Industrial Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 102 | |||
Real Estate and Accumulated Depreciation, Construction | 2020 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Sep. 28, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
South San Diego Distribution Center | Industrial Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 497 | |||
Real Estate and Accumulated Depreciation, Construction | 2020 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Oct. 28, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
2451 Bath Road - Elgin Distribution Center | Industrial Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 87 | |||
Real Estate and Accumulated Depreciation, Construction | 2020 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Nov. 16, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
1755 Britannia Drive - Elgin Distribution Center | Industrial Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 35 | |||
Real Estate and Accumulated Depreciation, Construction | 2020 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Nov. 16, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
South Louisville Distribution Center | Industrial Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 56 | |||
Real Estate and Accumulated Depreciation, Construction | 2021 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Nov. 17, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Louisville Airport Distribution Center | Industrial Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 268 | |||
Real Estate and Accumulated Depreciation, Construction | 2020 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jun. 24, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Friendship Distribution Center | Industrial Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 269 | |||
Real Estate and Accumulated Depreciation, Construction | 2020 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Oct. 20, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
13500 Danielson Street | Industrial Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 108 | |||
Real Estate and Accumulated Depreciation, Construction | 1997 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jul. 2, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
237 Via Vera Cruz | Industrial Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 144 | |||
Real Estate and Accumulated Depreciation, Construction | 1987 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jul. 2, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
4211 Starboard Drive | Industrial Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 174 | |||
Real Estate and Accumulated Depreciation, Construction | 1997 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jul. 9, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
2840 Loker Ave | Industrial Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 34 | |||
Real Estate and Accumulated Depreciation, Construction | 1998 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Nov. 30, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
15890 Bernardo Center | Industrial Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 24 | |||
Real Estate and Accumulated Depreciation, Construction | 1991 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Nov. 30, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
170 Park Ave | Office Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 904 | |||
Real Estate and Accumulated Depreciation, Construction | 1998 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Feb. 2, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
South Reno Medical Center | Office Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 0 | |||
Real Estate and Accumulated Depreciation, Construction | 2004 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Dec. 28, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
North Tampa Surgery Center | Office Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 25 | |||
Real Estate and Accumulated Depreciation, Construction | 2021 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Oct. 8, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Kansas City Medical Office - 1203 SW 7 Highway | Office Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 0 | |||
Real Estate and Accumulated Depreciation, Construction | 2021 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Dec. 23, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Kansas City Medical Office - 8600 NE 82nd Street | Office Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 0 | |||
Real Estate and Accumulated Depreciation, Construction | 2021 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Dec. 23, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Sugar Land Medical Center | Office Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 0 | |||
Real Estate and Accumulated Depreciation, Construction | 2020 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Dec. 30, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Roeland Park Medical Center | Office Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 0 | |||
Real Estate and Accumulated Depreciation, Construction | 2021 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Dec. 28, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Durham Medical Office | Office Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 0 | |||
Real Estate and Accumulated Depreciation, Construction | 2010 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Dec. 23, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
9101 Stony Point Drive | Office Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 253 | |||
Real Estate and Accumulated Depreciation, Construction | 2018 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Sep. 15, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Presley Uptown [Member] | Apartment Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 2,473 | |||
Real Estate and Accumulated Depreciation, Construction | 2016 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Sep. 30, 2019 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Princeton North Andover | Apartment Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 929 | |||
Real Estate and Accumulated Depreciation, Construction | 2019 | |||
Real Estate and Accumulated Depreciation, Date Acquired | May 3, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Preserve at the Meadows | Apartment Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 489 | |||
Real Estate and Accumulated Depreciation, Construction | 2001 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Aug. 23, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
The Rockwell | Apartment Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 547 | |||
Real Estate and Accumulated Depreciation, Construction | 2020 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Aug. 31, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Miramont Apartments | Apartment Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 331 | |||
Real Estate and Accumulated Depreciation, Construction | 1995 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Sep. 29, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
Pinecone Apartments | Apartment Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 296 | |||
Real Estate and Accumulated Depreciation, Construction | 1993 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Sep. 29, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | |||
The Reserve at Venice | Apartment Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 0 | |||
Real Estate and Accumulated Depreciation, Construction | 2021 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Dec. 17, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Woodside Trumbull | Apartment Properties [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 0 | |||
Real Estate and Accumulated Depreciation, Construction | 2021 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Dec. 21, 2021 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation, Other Deduction | $ (4,939) | $ (3,419) | $ 0 | |
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | 4,939 | |||
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations | The Edge at Lafayette [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 4,131 | |||
Real Estate and Accumulated Depreciation, Construction | 2007 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Jan. 15, 2008 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years | |||
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations | 4001 North Norfleet Road [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 9,070 | |||
Real Estate and Accumulated Depreciation, Construction | 2007 | |||
Real Estate and Accumulated Depreciation, Date Acquired | Feb. 27, 2007 | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 50 years |
Uncategorized Items - jllipt-20
Label | Element | Value |
IPT Long-Term Line of Credit [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument, Maturity Date Range, End | us-gaap_DebtInstrumentMaturityDateRangeEnd1 | May 24, 2025 |