Carter Validus Mission Critical REIT 10-Q 10 Aug 17 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares shares in Thousands	6 Months Ended
	Jun. 30, 2017	Aug. 07, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Entity Registrant Name	Carter Validus Mission Critical REIT, Inc.
Entity Central Index Key	1,482,974
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		186,643

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Real estate:
Land ($4,280 and $4,280, respectively, related to VIE)	$ 181,960	$ 181,960
Buildings and improvements, less accumulated depreciation of $180,030 and $152,486, respectively ($83,347 and $84,760, respectively, related to VIE)	1,812,123	1,812,769
Construction in process	0	16,143
Total real estate, net ($87,627 and $89,040, respectively, related to VIE)	1,994,083	2,010,872
Cash and cash equivalents ($2,068 and $2,308, respectively, related to VIE)	45,394	42,613
Acquired intangible assets, less accumulated amortization of $61,852 and $53,372, respectively ($6,099 and $6,465, respectively, related to VIE)	169,950	178,430
Other assets, net ($9,878 and $8,525, respectively, related to VIE)	110,525	105,739
Total assets	2,319,952	2,337,654
Liabilities:
Notes payable, net of deferred financing costs of $1,777 and $2,542, respectively ($50,876 and $51,283, respectively, related to VIE)	468,491	484,270
Credit facility, net of deferred financing costs of $1,303 and $1,789, respectively	386,697	356,211
Accounts payable due to affiliates ($55 and $54, respectively, related to VIE)	2,695	2,635
Accounts payable and other liabilities ($3,509 and $3,825, respectively, related to VIE)	41,212	40,196
Intangible lease liabilities, less accumulated amortization of $18,071 and $16,332, respectively ($7,518 and $8,030, respectively, related to VIE)	47,659	49,398
Total liabilities	946,754	932,710
Stockholders’ equity:
Preferred stock, $0.01 par value per share, 50,000,000 shares authorized; none issued and outstanding
Common stock, $0.01 par value per share, 300,000,000 shares authorized; 193,374,412 and 189,848,165 shares issued, respectively; 186,048,460 and 184,909,673 shares outstanding, respectively	1,860	1,849
Additional paid-in capital	1,635,907	1,625,862
Accumulated distributions in excess of earnings	(302,251)	(258,878)
Accumulated other comprehensive income	2,942	1,823
Total stockholders’ equity	1,338,458	1,370,656
Noncontrolling interests	34,740	34,288
Total equity	1,373,198	1,404,944
Total liabilities and stockholders’ equity	$ 2,319,952	$ 2,337,654

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Land	$ 181,960	$ 181,960
Buildings and improvements, accumulated depreciation	180,030	152,486
Buildings and improvements, net	1,812,123	1,812,769
Total real estate, net	1,994,083	2,010,872
Cash and cash equivalents	45,394	42,613
Acquired intangible assets, accumulated amortization	61,852	53,372
Acquired intangible assets, net	169,950	178,430
Other assets	110,525	105,739
Notes payable, deferred financing costs	1,777	2,542
Notes payable, net of deferred financing costs	468,491	484,270
Credit facility, deferred financing costs	1,303	1,789
Accounts payable due to affiliates	2,695	2,635
Accounts payable and other liabilities	41,212	40,196
Intangible lease liabilities, accumulated amortization	18,071	16,332
Intangible lease liabilities, net	$ 47,659	$ 49,398
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	193,374,412	189,848,165
Common stock, shares outstanding	186,048,460	184,909,673
Variable Interest Entity, Primary Beneficiary [Member]
Land	$ 4,280	$ 4,280
Buildings and improvements, net	83,347	84,760
Total real estate, net	87,627	89,040
Cash and cash equivalents	2,068	2,308
Acquired intangible assets, net	6,099	6,465
Other assets	9,878	8,525
Notes payable, net of deferred financing costs	50,876	51,283
Accounts payable due to affiliates	55	54
Accounts payable and other liabilities	3,509	3,825
Intangible lease liabilities, net	$ 7,518	$ 8,030

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenue:
Rental and parking revenue	$ 50,752	$ 54,113	$ 98,562	$ 106,302
Tenant reimbursement revenue	5,237	4,774	8,817	9,095
Total revenue	55,989	58,887	107,379	115,397
Expenses:
Rental and parking expenses	7,713	7,373	15,104	14,012
General and administrative expenses	1,997	1,587	3,680	3,168
Change in fair value of contingent consideration	100	125	(1,040)	245
Acquisition related expenses	0	1,640	0	1,640
Asset management fees	4,827	4,877	9,646	9,664
Depreciation and amortization	18,088	17,349	36,155	34,348
Total expenses	32,725	32,951	63,545	63,077
Income from operations	23,264	25,936	43,834	52,320
Other income (expense):
Other interest and dividend income	491	2,857	1,054	5,679
Interest expense, net	(8,859)	(9,213)	(17,524)	(19,827)
Provision for loan losses	(1,688)	(1,666)	(4,172)	(1,666)
Total other expense	(10,056)	(8,022)	(20,642)	(15,814)
Net income	13,208	17,914	23,192	36,506
Net income attributable to noncontrolling interests in consolidated partnerships	(1,039)	(1,061)	(2,120)	(1,989)
Net income attributable to common stockholders	12,169	16,853	21,072	34,517
Other comprehensive (loss) income:
Unrealized (loss) income on interest rate swaps, net	(384)	(2,606)	1,119	(6,469)
Other comprehensive (loss) income	(384)	(2,606)	1,119	(6,469)
Comprehensive income	12,824	15,308	24,311	30,037
Comprehensive income attributable to noncontrolling interests in consolidated partnerships	(1,039)	(1,061)	(2,120)	(1,989)
Comprehensive income attributable to common stockholders	$ 11,785	$ 14,247	$ 22,191	$ 28,048
Weighted average number of common shares outstanding:
Basic (in shares)	185,897,525	182,743,182	185,600,604	182,372,560
Diluted (in shares)	185,911,968	182,762,094	185,616,171	182,392,594
Net income per common share attributable to common stockholders:
Basic (in dollars per share)	$ 0.07	$ 0.09	$ 0.11	$ 0.19
Diluted (in dollars per share)	0.07	0.09	0.11	0.19
Distributions declared per common share	$ 0.17	$ 0.17	$ 0.35	$ 0.35

Condensed Consolidated Stateme5

Condensed Consolidated Statement Of Stockholders' Equity - 6 months ended Jun. 30, 2017 - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Distributions in Excess of Earnings [Member]	Accumulated Other Comprehensive Income [Member]	Total Stockholders' Equity [Member]	Noncontrolling Interests [Member]
Balance, (in shares) at Dec. 31, 2016	184,909,673	184,909,673
Balance, at Dec. 31, 2016	$ 1,404,944	$ 1,849	$ 1,625,862	$ (258,878)	$ 1,823	$ 1,370,656	$ 34,288
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of restricted stock (in shares)		4,500
Vesting of restricted stock	45		45			45	0
Issuance of common stock under the distribution reinvestment plan (in shares)		3,521,747
Issuance of common stock under the distribution reinvestment plan	33,541	$ 35	33,506			33,541	0
Distributions to noncontrolling interests	(1,668)					0	(1,668)
Distributions declared to common stockholders	(64,445)			(64,445)		(64,445)	0
Other offering costs	(32)		(32)			(32)	0
Repurchase of common stock (in shares)		(2,387,460)
Repurchase of common stock	(23,498)	$ (24)	(23,474)			(23,498)	0
Other comprehensive income	1,119				1,119	1,119	0
Net income	$ 23,192			21,072		21,072	2,120
Balance, (in shares) at Jun. 30, 2017	186,048,460	186,048,460
Balance, at Jun. 30, 2017	$ 1,373,198	$ 1,860	$ 1,635,907	$ (302,251)	$ 2,942	$ 1,338,458	$ 34,740

Condensed Consolidated Stateme6

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities:
Net income	$ 23,192	$ 36,506
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	36,155	34,348
Amortization of deferred financing costs	1,959	2,279
Amortization of above-market leases	186	232
Amortization of intangible lease liabilities	(1,739)	(1,950)
Provision for doubtful accounts	9,259	809
Provision for loan losses	4,172	1,666
Loss on debt extinguishment	0	1,133
Straight-line rent	(7,787)	(12,689)
Stock-based compensation	45	45
Change in fair value of contingent consideration	(1,040)	245
Changes in operating assets and liabilities:
Accounts payable and other liabilities	441	1,686
Accounts payable due to affiliates	14	142
Other assets	(6,248)	(5,707)
Net cash provided by operating activities	58,609	58,745
Cash flows from investing activities:
Investment in real estate	0	(71,000)
Capital expenditures	(9,472)	(30,830)
Real estate deposits, net	0	450
Notes receivable advances	(500)	(3,519)
Net cash used in investing activities	(9,972)	(104,899)
Cash flows from financing activities:
Payments on notes payable	(16,544)	(37,353)
Proceeds from credit facility	30,000	135,000
Payments of deferred financing costs	(1,409)	(401)
Repurchase of common stock	(23,498)	(16,996)
Offering costs	(32)	(9)
Distributions to stockholders	(31,160)	(29,629)
Distributions to noncontrolling interests in consolidated partnerships	(1,668)	(1,113)
Net cash (used in) provided by financing activities	(44,311)	49,499
Net change in cash, cash equivalents and restricted cash	4,326	3,345
Cash, cash equivalents and restricted cash - Beginning of period	57,605	43,070
Cash, cash equivalents and restricted cash - End of period	61,931	46,415
Supplemental cash flow disclosure:
Interest paid, net of interest capitalized of $1,736 and $801, respectively	17,334	17,191
Supplemental disclosure of non-cash transactions:
Common stock issued through distribution reinvestment plan	33,541	34,138
Net unrealized gain (loss) on interest rate swap	1,119	(6,469)
Accrued capital expenditures	$ 1,641	$ 7,459

Condensed Consolidated Stateme7

Condensed Consolidated Statements Of Cash Flows (Parenthetical) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Statement of Cash Flows [Abstract]
Interest capitalized	$ 1,736	$ 801

Organization and Business Opera

Organization and Business Operations	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business Operations	Organization and Business Operations Carter Validus Mission Critical REIT, Inc., or the Company, a Maryland corporation, was incorporated on December 16, 2009 and elected to be taxed and currently qualifies as a real estate investment trust, or a REIT, under the Internal Revenue Code of 1986, as amended, or the Code, for federal income tax purposes. The Company was organized to acquire and operate a diversified portfolio of income-producing commercial real estate, with a focus on the data center and healthcare property sectors, net leased to creditworthy tenants, as well as to make other real estate-related investments that relate to such property types. The Company operates through two reportable segments—commercial real estate investments in data centers and healthcare. Substantially all of the Company’s business is conducted through Carter/Validus Operating Partnership, LP, a Delaware limited partnership, or the Operating Partnership. The Company is the sole general partner of the Operating Partnership. Carter/Validus Advisors, LLC, or the Advisor, the Company’s affiliated advisor, is the sole limited partner of the Operating Partnership. As of June 30, 2017 , the Company owned 49 real estate investments (including one real estate investment owned through a consolidated partnership ), consisting of 84 properties located in 46 metropolitan statistical areas, or MSAs. The Company ceased offering shares of common stock in its initial public offering, or the Offering, on June 6, 2014. At the completion of the Offering, the Company raised gross proceeds of approximately $1,716,046,000 (including shares of common stock issued pursuant to a distribution reinvestment plan, or the DRIP). The Company will continue to issue shares of common stock under the DRIP Offering (as defined below) until such time as the Company sells all of the shares registered for sale under the DRIP Offering, unless the Company files a new registration statement with the Securities and Exchange Commission, or the SEC, or the DRIP Offering is terminated by the Company’s board of directors. We refer to our DRIP Offering and Offering together as the "Offerings." On May 22, 2017, the Company registered 11,387,512 shares of common stock with a price per share of $9.519 , based on the price per share formula set forth in the registration statement on Form S-3 (which price may change upon the Company's calculation of an updated net asset value per share), for a proposed maximum offering price of $108,397,727 in shares of common stock under the DRIP pursuant to a registration statement on Form S-3, or the DRIP Offering. As of June 30, 2017 , the Company had issued approximately 193,312,000 shares of common stock in the Offerings for gross proceeds of $1,913,309,000 , before share repurchases of $71,360,000 and offering costs, selling commissions and dealer manager fees of $174,825,000 . Except as the context otherwise requires, “we,” “our,” “us,” and the “Company” refer to Carter Validus Mission Critical REIT, Inc., the Operating Partnership, all majority-owned subsidiaries and controlled subsidiaries.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies The summary of significant accounting policies presented below is designed to assist in understanding the Company’s condensed consolidated financial statements. Such condensed consolidated financial statements and the accompanying notes thereto are the representation of management. The accompanying condensed consolidated unaudited financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States, or GAAP, for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments, consisting of normal and recurring nature considered necessary for a fair presentation have been included. Operating results for the three and six months ended June 30, 2017 are not necessarily indicative of the results that may be expected for the year ended December 31, 2017 . The condensed consolidated balance sheet at December 31, 2016 has been derived from the audited consolidated financial statements at that date but does not include all of the information and notes required by GAAP for complete financial statements. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Company’s audited consolidated financial statements as of and for the year ended December 31, 2016 and related notes thereto set forth in the Company’s Annual Report on Form 10-K, filed with the SEC on March 30, 2017. Principles of Consolidation and Basis of Presentation The accompanying condensed consolidated financial statements include the accounts of the Company, the Operating Partnership, all majority-owned subsidiaries and controlled subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP necessarily requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. These estimates are made and evaluated on an ongoing basis using information that is currently available as well as various other assumptions believed to be reasonable under the circumstances. Actual results could differ from those estimates. Allowance for Uncollectible Accounts Tenant receivables and unbilled deferred rent receivables are carried net of the allowances for uncollectible amounts. An allowance will be maintained for estimated losses resulting from the inability of certain tenants to meet the contractual obligations under their lease agreements. The Company also maintains an allowance for deferred rent receivables arising from the straight-lining of rents. The Company’s determination of the adequacy of these allowances is based primarily upon evaluations of historical loss experience, the tenant’s financial condition, security deposits, letters of credit, lease guarantees and current economic conditions and other relevant factors. For the three months ended June 30, 2017 and 2016 , the Company recorded $1,595,000 and $809,000 , respectively, and for the six months ended June 30, 2017 and 2016 , the Company recorded $9,259,000 and $809,000 , respectively, in provision for doubtful accounts related to reserves for rental and parking revenue and tenant reimbursement revenue, which are recognized in the accompanying condensed consolidated statements of comprehensive income as a deduction from rental and parking revenue and tenant reimbursement revenue. Notes Receivable Notes receivable are reported at their outstanding principal balance, net of any unearned income, unamortized deferred fees and costs and allowances for loan losses. The unamortized deferred fees and costs are amortized over the life of the notes receivable, as applicable, and recorded in other interest and dividend income in the accompanying condensed consolidated statements of comprehensive income . The Company evaluates the collectability of both interest and principal on each note receivable to determine whether it is collectible primarily through the evaluation of credit quality indicators, such as the tenant's financial condition, evaluations of historical loss experience, current economic conditions and other relevant factors. Evaluating a note receivable for potential impairment requires management to exercise significant judgment. As of June 30, 2017 and December 31, 2016 , the aggregate balance on the Company's notes receivable before allowances for loan losses was $15,019,000 and $19,422,000 , respectively. For the three months ended June 30, 2017 and 2016 , the Company recorded $1,688,000 and $1,666,000 , respectively, and for the six months ended June 30, 2017 and 2016 , the Company recorded $4,172,000 and $1,666,000 , respectively, as an allowance to reduce the carrying value of notes receivable and accrued interest related to two tenants in provision for loan losses in the accompanying condensed consolidated financial statements. Concentration of Credit Risk and Significant Leases As of June 30, 2017 , the Company had cash on deposit, including restricted cash, in certain financial institutions that had deposits in excess of current federally insured levels; however, the Company has not experienced any losses in such accounts. The Company limits its cash investments to financial institutions with high credit standings; therefore, the Company believes it is not exposed to any significant credit risk on its cash deposits. To date, the Company has experienced no loss of, or lack of access to, cash in its accounts. As of June 30, 2017 , the Company owned real estate investments in 46 MSAs, (including one real estate investment owned through a consolidate d partnership), two of which accounted for 10.0% or more of contractual rental revenue. Real estate investments located in the Dallas-Ft. Worth-Arlington, Texas MSA and the Chicago-Naperville-Elgin, Illinois-Indiana-Wisconsin MSA accounted for an aggregate of 10.4% and 12.1% , respectively, of con tractual rental revenue for the six months ended June 30, 2017 . As of June 30, 2017 , the Company had one exposure to tenant concentration that accounted for 10.0% or more of rental revenue. The leases with AT&T Services, Inc. accounted for 11.9% of rental revenue for the six months ended June 30, 2017 . Restricted Cash Restricted cash consists of restricted cash held in escrow and restricted bank deposits. Restricted cash held in escrow includes cash held by lenders in escrow accounts for tenant and capital improvements, repairs and maintenance and other lender reserves for certain properties, in accordance with the respective lender’s loan agreement. Restricted cash is reported in other assets, net in the accompanying condensed consolidated balance sheets . See Note 5—"Other Assets, Net." Restricted bank deposits consist of tenant receipts for certain properties which are required to be deposited into lender controlled accounts in accordance with the respective lender's loan agreement. Restricted bank deposits are reported in other assets, net in the accompanying condensed consolidated balance sheets . On April 1, 2017, the Company adopted ASU 2016-18, Restricted Cash , or ASU 2016-18. ASU 2016-18 requires that a statement of cash flows explain the change during a reporting period in the total of cash, cash equivalents, and amounts generally described as restricted cash. This ASU states that transfers between cash, cash equivalents, and restricted cash are not part of the Company’s operating, investing, and financing activities. Therefore, restricted cash should be included with cash and cash equivalents when reconciling the beginning of period and end of period total amounts shown on the statement of cash flows. As required, the Company retrospectively applied the guidance in ASU 2016-18 to the prior period presented, which resulted in an increase of $1,604,000 in net cash provided by financing activities and an increase of $169,000 in net cash provided by operating activities on the condensed consolidated statements of cash flows for the six months ended June 30, 2016 . The following table presents a reconciliation of the beginning of period and end of period cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets to the totals shown in the condensed consolidated statements of cash flows: Six Months Ended Beginning of period: 2017 2016 Cash and cash equivalents $ 42,613 $ 28,527 Restricted cash 14,992 14,543 Cash, cash equivalents and restricted cash $ 57,605 $ 43,070 End of period: Cash and cash equivalents $ 45,394 $ 30,099 Restricted cash 16,537 16,316 Cash, cash equivalents and restricted cash $ 61,931 $ 46,415 Share Repurchase Program The Company’s share repurchase program allows for repurchases of shares of the Company’s common stock when certain criteria are met. The share repurchase program provides that all repurchases during any calendar year, including those redeemable upon death or a qualifying disability of a stockholder, are limited to those that can be funded with equivalent reinvestments pursuant to the DRIP Offerings during the prior calendar year and other operating funds, if any, as the board of directors, in its sole discretion, may reserve for this purpose. Repurchases of shares of the Company’s common stock are at the sole discretion of the Company’s board of directors. In addition, the Company’s board of directors, in its sole discretion, may amend, suspend, reduce, terminate or otherwise change the share repurchase program upon 30 days ' prior notice to the Company’s stockholders for any reason it deems appropriate. The share repurchase program provides that the Company will limit the number of shares repurchased during any calendar year to 5.0% of the number of shares of common stock outstanding as of December 31st of the previous calendar year. During the six months ended June 30, 2017 , the Company received valid repurchase requests related to approximately 2,387,000 shares of common stock, all of which were repurchased in full for an aggregate purchase price of approximately $23,498,000 (an average of $9.84 per share). During the six months ended June 30, 2016 , the Company received valid repurchase requests related to approximately 1,758,000 shares of common stock, all of which were repurchased in full for an aggregate purchase price of approximately $16,996,000 (an average of $9.67 per share). Earnings Per Share Basic earnings per share for all periods presented are computed by dividing net income attributable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Shares of non-vested restricted common stock give rise to potentially dilutive shares of common stock. Diluted earnings per share are computed based on the weighted average number of shares outstanding and all potentially dilutive securities. For the three months ended June 30, 2017 and 2016 , diluted earnings per share reflected the effect of approximately 14,000 and 19,000 , respectively, of non-vested shares of restricted common stock that were outstanding as of such period. For the six months ended June 30, 2017 and 2016 , diluted earnings per share reflected the effect of approximately 16,000 and 20,000 , respectively, of non-vested shares of restricted common stock that were outstanding as of such period. Recently Issued Accounting Pronouncements On May 28, 2014, the Financial Accounting Standards Board, or the FASB, issued Accounting Standards Update, or ASU, 2014-09, Revenue from Contracts with Customers , or ASU 2014-09. The objective of ASU 2014-09 is to clarify the principles for recognizing revenue and to develop a common revenue standard for GAAP. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 defines a five-step process to achieve this core principle, which may require more judgment and estimates within the revenue recognition process than are required under existing GAAP. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606) Deferral of the Effective Date , or ASU 2015-14. ASU 2015-14 defers the effective date of ASU 2014-09 by one year to fiscal years and interim periods beginning after December 15, 2017. Early adoption is permitted as of the original effective date, which was annual reporting periods beginning after December 15, 2016, and the interim periods within that year. On March 17, 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers Principal versus Agent Considerations (Reporting Revenue Gross versus Net), or ASU 2016-08, which clarifies the implementation guidance on principal versus agent considerations in the new revenue recognition standard. ASU 2016-08 clarifies that an entity is a principal when it controls the specified good or service before that good or service is transferred to the customer, and is an agent when it does not control the specified good or service before it is transferred to the customer. The effective date and transition of this update is the same as the effective date and transition of ASU 2015-14. As the majority of the Company's revenue is derived from real estate lease contracts, as discussed in relation to ASU 2016-02, Leases , the Company does not expect that the adoption of ASU 2014-09 or related amendments and modifications will have a material impact on the condensed consolidated financial statements. On February 25, 2016, the FASB issued ASU 2016-02 , Leases , or ASU 2016-02. ASU 2016-02 establishes the principles to increase the transparency about the assets and liabilities arising from leases. ASU 2016-02 results in a more faithful representation of the rights and obligations arising from leases by requiring lessees to recognize the lease assets and lease liabilities that arise from leases in the statement of financial position and to disclose qualitative and quantitative information about lease transactions and aligns lessor accounting and sale leaseback transactions guidance more closely to comparable guidance in Topic 606, Revenue from Contracts with Customers , and Topic 610, Other Income . Under ASU 2016-02, a lessee is required to record a right of use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. The Company is a lessee on a limited number of ground leases, which will result in the recognition of a right of use asset and lease liability upon the adoption of ASU 2016-02. Lessor accounting remains largely unchanged, apart from the narrower scope of initial direct costs that can be capitalized. The new standard will result in certain costs, such as legal costs related to lease negotiations, being expensed rather than capitalized. In addition, ASU 2016-02 requires lessors to identify the lease and non-lease components, such as common area maintenance, contained within each lease. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The Company is in process of evaluating the impact ASU 2016-02 will have on the Company's condensed consolidated financial statements. On June 16, 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses, or ASU 2016-13. ASU 2016-13 requires more timely recording of credit losses on loans and other financial instruments that are not accounted for at fair value through net income, including loans held for investment, held-to-maturity debt securities, trade and other receivables, net investment in leases and other such commitments. ASU 2016-13 requires that financial assets measured at amortized cost be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. The amendments in ASU 2016-13 require the Company to measure all expected credit losses based upon historical experience, current conditions and reasonable and supportable forecasts that affect the collectability of the financial assets and eliminates the “incurred loss” methodology in current GAAP. ASU 2016-13 is effective for fiscal years, and interim periods within, beginning after December 15, 2019. Early adoption is permitted for fiscal years, and interim periods within, beginning after December 15, 2018. The Company is in the process of evaluating the impact ASU 2016-13 will have on the Company’s condensed consolidated financial statements. The Company believes that certain financial statements' accounts will be impacted by the adoption of ASU 2016-13, including allowances for doubtful accounts with respect to accounts receivable, straight-line rents receivable and notes receivable. On February 23, 2017, the FASB issued ASU 2017-05, Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets, or ASU 2017-05. ASU 2017-05 clarifies the scope of asset derecognition guidance and accounting for partial sales of nonfinancial assets. Partial sales of nonfinancial assets are common in the real estate industry and include transactions in which the seller retains an equity interest in the entity that owns the assets or has an equity interest in the buyer. ASU 2017-05 is effective for fiscal years beginning after December 15, 2017, including interim reporting periods within those fiscal years. Early adoption is permitted. The Company is in process of evaluating the impact ASU 2017-05 will have on the Company’s condensed consolidated financial statements. T he Company does not expect that the adoption of ASU 2017-05 will have a material impact on the condensed consolidated financial statements. Reclassifications Certain prior period amounts have been reclassified to conform to the current financial statement presentation, with no effect on the Company’s condensed consolidated financial position or results of operations.

Acquired Intangible Assets, Net

Acquired Intangible Assets, Net	6 Months Ended
	Jun. 30, 2017
Finite-Lived Intangible Assets, Net [Abstract]
Acquired Intangible Assets, Net	Acquired Intangible Assets, Net Acquired intangible assets, net, consisted of the following as of June 30, 2017 and December 31, 2016 (amounts in thousands, except weighted average life amounts): June 30, 2017 December 31, 2016 In-place leases, net of accumulated amortization of $60,131 and $51,837, respectively (with a weighted average remaining life of 12.5 years and 12.9 years, respectively) $ 164,497 $ 172,791 Above-market leases, net of accumulated amortization of $1,463 and $1,303, respectively (with a weighted average remaining life of 9.8 years and 10.3 years, respectively) 2,897 3,057 Ground lease interest, net of accumulated amortization of $258 and $232, respectively (with a weighted average remaining life of 59.1 years and 59.5 years, respectively) 2,556 2,582 $ 169,950 $ 178,430 The aggregate weighted average remaining life of the acquired intangible assets was 13.2 years and 13.5 years as of June 30, 2017 and December 31, 2016 , respectively. Amortization of the acquired intangible assets for the three months ended June 30, 2017 and 2016 was $4,240,000 and $4,409,000 , respectively, and for the six months ended June 30, 2017 and 2016 was $8,480,000 and $8,755,000 , respectively. Amortization of the above-market leases is recorded as an adjustment to rental and parking revenue, amortization expense for the in-place leases is included in depreciation and amortization and amortization expense for the ground lease interest is included in rental and parking expenses in the accompanying condensed consolidated statements of comprehensive income .

Intangible Lease Liabilities, N

Intangible Lease Liabilities, Net	6 Months Ended
	Jun. 30, 2017
Intangible Lease Liabilities, Net [Abstract]
Intangible Lease Liabilities, Net	Intangible Lease Liabilities, Net Intangible lease liabilities, net, consisted of the following as of June 30, 2017 and December 31, 2016 (amounts in thousands, except weighted average life amounts): June 30, 2017 December 31, 2016 Below-market leases, net of accumulated amortization of $17,708 and $16,031, respectively (with a weighted average remaining life of 16.7 years and 17.1 years, respectively) $ 42,697 $ 44,374 Ground leasehold liabilities, net of accumulated amortization of $363 and $301, respectively (with a weighted average remaining life of 41.7 years and 42.2 years, respectively) 4,962 5,024 $ 47,659 $ 49,398 The aggregate weighted average remaining life of intangible lease liabilities was 19.3 years and 19.6 years as of June 30, 2017 and December 31, 2016 , respectively. Amortization of the intangible lease liabilities for the three months ended June 30, 2017 and 2016 was $870,000 and $975,000 , respectively, and for the six months ended June 30, 2017 and 2016 was $1,739,000 and $1,950,000 , respectively. Amortization of below-market leases is recorded as an adjustment to rental and parking revenue and amortization expense of ground leasehold liabilities is included in rental and parking expenses in the accompanying condensed consolidated statements of comprehensive income .

Other Assets, Net

Other Assets, Net	6 Months Ended
	Jun. 30, 2017
Other Assets [Abstract]
Other Assets, Net	Other Assets, Net Other assets, net consisted of the following as of June 30, 2017 and December 31, 2016 (amounts in thousands): June 30, 2017 December 31, 2016 Deferred financing costs related to the revolver portion of the unsecured credit facility, net of accumulated amortization of $6,544 and $5,833, respectively $ 1,578 $ 877 Lease commissions, net of accumulated amortization of $838 and $557, respectively 4,878 4,869 Investments in unconsolidated partnerships 123 113 Tenant receivables, net of allowances for doubtful accounts of $3,239 and $6,007, respectively 6,134 10,475 Notes receivable, net of allowances for loan losses of $2,858 and $4,294, respectively 12,161 15,128 Real estate-related notes receivable 514 514 Straight-line rent receivable 62,333 53,545 Restricted cash 16,537 14,992 Derivative assets 3,418 3,070 Prepaid and other assets 2,849 2,156 $ 110,525 $ 105,739

Accounts Payable and Other Liab

Accounts Payable and Other Liabilities	6 Months Ended
	Jun. 30, 2017
Payables and Accruals [Abstract]
Accounts Payable and Other Liabilities	Accounts Payable and Other Liabilities Accounts payable and other liabilities, as of June 30, 2017 and December 31, 2016 , were comprised of the following (amounts in thousands): June 30, 2017 December 31, 2016 Accounts payable and accrued expenses $ 7,724 $ 7,200 Accrued interest expense 2,807 2,855 Accrued property taxes 3,594 4,277 Contingent consideration obligations 4,600 5,640 Distributions payable to stockholders 10,713 10,968 Tenant deposits 1,039 1,039 Deferred rental income 10,259 6,970 Derivative liabilities 476 1,247 $ 41,212 $ 40,196

Notes Payable and Unsecured Cre

Notes Payable and Unsecured Credit Facility	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Notes Payable and Unsecured Credit Facility	Notes Payable and Unsecured Credit Facility The Company's debt outstanding as of June 30, 2017 and December 31, 2016 consisted of the following (amounts in thousands): June 30, 2017 December 31, 2016 Notes payable: Fixed rate notes payable $ 102,516 $ 114,783 Variable rate notes payable fixed through interest rate swaps 326,868 330,425 Variable rate notes payable 40,884 41,604 Total notes payable, principal amount outstanding 470,268 486,812 Unamortized deferred financing costs related to notes payable (1,777 ) (2,542 ) Total notes payable, net of deferred financing costs 468,491 484,270 Unsecured credit facility: Revolving line of credit 178,000 148,000 Term loan 210,000 210,000 Total unsecured credit facility, principal amount outstanding 388,000 358,000 Unamortized deferred financing costs related to the term loan of the unsecured credit facility (1,303 ) (1,789 ) Total unsecured credit facility, net of deferred financing costs 386,697 356,211 Total debt outstanding $ 855,188 $ 840,481 Significant debt activity since December 31, 2016 , excluding scheduled principal payments, includes: • On January 31, 2017, the Operating Partnership and certain of the Company’s subsidiaries entered into an amendment related to the unsecured credit facility to extend the maturity date and modify the extension options of the revolving line of credit portion of the unsecured credit facility. In connection with the amendment to the unsecured credit facility, the maturity date of the revolving line of credit was changed from May 28, 2017 to May 28, 2018 , subject to the Operating Partnership's right to two 12 -month extension periods (the Operating Partnership previously had a right to one 12 -month extension period). • On February 10, 2017, the Company paid off its debt in connection with one of the Company's notes payable with an outstanding principal balance of $5,645,000 at the time of repayment. • On June 28, 2017, the Company paid off its debt in connection with one of the Company's notes payable with an outstanding principal balance of $5,337,000 at the time of repayment. • During the six months ended June 30, 2017 , the Company removed a portfolio of certain healthcare properties from the unencumbered pool of the unsecured credit facility due to a tenant undergoing a restructuring of its liabilities, which decreased the Company's total unencumbered pool availability under the unsecured credit facility by approximately $58,608,000 . • During the six months ended June 30, 2017 , the Company made a draw of $30,000,000 on its unsecured credit facility related to repayments of matured notes payable and general corporate purposes. • As of June 30, 2017 , the Company had a total unencumbered pool availability under the unsecured credit facility of $453,921,000 and an aggregate outstanding principal balance of $388,000,000 . As of June 30, 2017 , $65,921,000 remained available to be drawn on the unsecured credit facility. The principal payments due on the notes payable and unsecured credit facility for the six months ending December 31, 2017 and for each of the next four years ending December 31 and thereafter, are as follows (amounts in thousands): Year Amount Six months ending December 31, 2017 $ 174,422 (1) 2018 326,965 2019 170,719 2020 136,160 2021 1,239 Thereafter 48,763 $ 858,268 (1) Of this amount, $105,850,000 relates to one loan agreement with a maturity date of August 21, 2017 , subject to the Company's right to a two -year extension and $18,575,000 relates to one loan agreement with a maturity date of October 11, 2017 , subject to the Company's right to two one -year extensions. The Company may refinance these loan agreements or exercise the extension options depending upon refinancing terms available at the time. In addition, $45,476,000 relates to two loan agreements that the Company may elect to add to the unencumbered pool of the unsecured credit facility.

Related-Party Transactions and

Related-Party Transactions and Arrangements	6 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
Related-Party Transactions and Arrangements	Related-Party Transactions and Arrangements The Company pays to the Advisor 2.0% of the contract purchase price of each property or asset acquired, 2.0% of the cost of development/redevelopment projects, other than the initial acquisition of the property, and 2.0% of the amount advanced with respect to a mortgage loan. For the three months ended June 30, 2017 and 2016 , the Company incurred $0 and $1,420,000 , respectively, and for the six months ended June 30, 2017 and 2016 , the Company incurred $0 and $1,420,000 , respectively, in acquisition fees to the Advisor or its affiliates related to investments in real estate. The Company pays the Advisor an annual asset management fee of 0.85% of the aggregate asset value plus costs and expenses incurred by the Advisor in providing asset management services. The fee is payable monthly in an amount equal to 0.07083% of the aggregate asset value as of the last day of the immediately preceding month. For the three months ended June 30, 2017 and 2016 , the Company incurred $4,827,000 and $4,877,000 , respectively, and for the six months ended June 30, 2017 and 2016 , the Company incurred $9,646,000 and $9,664,000 , respectively, in asset management fees to the Advisor. The Company reimburses the Advisor for all expenses it paid or incurred in connection with the services provided to the Company, subject to certain limitations. The Company will not reimburse the Advisor for personnel costs in connection with services for which the Advisor receives an acquisition and advisory fee or a disposition fee. For the three months ended June 30, 2017 and 2016 , the Advisor allocated $498,000 and $429,000 , respectively, and for the six months ended June 30, 2017 and 2016 , the Advisor allocated $953,000 and $857,000 , respectively, in operating expenses incurred on the Company’s behalf, which are recorded in general and administrative expenses in the accompanying condensed consolidated statements of comprehensive income. The Company has no direct employees. The employees of the Advisor and other affiliates provide services to the Company related to acquisitions, property management, asset management, accounting, investor relations, and all other administrative services. If the Advisor or its affiliates provides a substantial amount of services, as determined by a majority of the Company’s independent directors, in connection with the sale of one or more properties, the Company will pay the Advisor a disposition fee up to the lesser of 1.0% of the contract sales price and one-half of the brokerage commission paid if a third party broker is involved. In no event will the combined real estate commission paid to the Advisor, its affiliates and unaffiliated third parties exceed 6.0% of the contract sales price. Notwithstanding the terms of the advisory agreement, the Advisor agreed to receive a reduced disposition fee payable to the Advisor or its affiliates in the event of a disposition of all or substantially all of the assets of the Company, a sale of the Company, or a merger with a change of control of the Company, of up to the lesser of 50% of the fees paid in the aggregate to third party investment bankers for such transaction, not to exceed 0.5% of the transaction price. The disposition fee is otherwise payable in accordance with the advisory agreement. This reduction in the disposition fee would not impact a disposition fee paid in the event of a sale of an individual property or portfolio of properties. The reduced disposition fee in such situations was approved by the Company's board of directors on May 5, 2016. In addition, after investors have received a return on their net capital contributions and an 8.0% cumulative non-compounded annual return, then the Advisor is entitled to receive 15.0% of the remaining net sale proceeds, or a subordinated participation in net sale proceeds. As of June 30, 2017 , the Company has not incurred a disposition fee or a subordinated participation in net sale proceeds to the Advisor or its affiliates. Upon the listing of the Company’s common stock on a national securities exchange, the Company will pay the Advisor a subordinated incentive listing fee equal to 15.0% of the amount by which the market value of the Company’s outstanding stock plus all distributions paid by the Company prior to listing exceeds the sum of the total amount of capital raised from investors and the amount of cash flow necessary to generate an 8.0% cumulative, non-compounded annual return to investors, or a subordinated incentive listing fee. As of June 30, 2017 , the Company has not incurred a subordinated incentive listing fee. Upon termination or non-renewal of the Advisory Agreement, with or without cause, the Advisor will be entitled to receive distributions from the Operating Partnership equal to 15.0% of the amount by which the sum of the Company’s adjusted market value plus distributions exceeds the sum of the aggregate capital contributed by investors plus an amount equal to an annual 8.0% cumulative, non-compounded return to investors. In addition, the Advisor may elect to defer its right to receive a subordinated distribution upon termination until either shares of the Company’s common stock are listed and traded on a national securities exchange or another liquidity event occurs. As of June 30, 2017 , the Company has not incurred any subordinated distribution upon termination fees to the Advisor or its affiliates. The Company pays Carter Validus Real Estate Management Services, LLC, or the Property Manager, leasing and property management fees for the Company’s properties. Such fees equal 3.0% of monthly gross revenues from single-tenant properties and 4.0% of monthly gross revenues from multi-tenant properties. The Company will reimburse the Property Manager and its affiliates for property-level expenses that any of them pay or incur on the Company’s behalf, including salaries, bonuses and benefits of persons employed by the Property Manager and its affiliates, except for the salaries, bonuses and benefits of persons who also serve as one of the Company’s executive officers. The Property Manager and its affiliates may subcontract the performance of their duties to third parties and pay all or a portion of the property management fee to the third parties with whom they contract for these services. If the Company contracts directly with third parties for such services at customary market fees, the Company may pay the Property Manager an oversight fee equal to 1.0% of the gross revenues of the property managed. In no event will the Company pay the Property Manager, the Advisor or its affiliates both a property management fee and an oversight fee with respect to any particular property. The Company will pay the Property Manager a separate fee for the one-time initial rent-up, lease renewals or leasing-up of newly constructed properties. For the three months ended June 30, 2017 and 2016 , the Company incurred $1,012,000 and $1,324,000 , respectively, and for the six months ended June 30, 2017 and 2016 , the Company incurred $2,444,000 and $2,611,000 , respectively, in property management fees to the Property Manager, which are recorded in rental and parking expenses in the accompanying condensed consolidated statements of comprehensive income . For the three months ended June 30, 2017 and 2016 , the Company incurred $0 and $277,000 , respectively, and for the six months ended June 30, 2017 and 2016 , the Company incurred $277,000 and $277,000 , respectively, in leasing commissions to the Property Manager. Leasing commissions are capitalized in other assets, net in the accompanying condensed consolidated balance sheets . For acting as general contractor and/or construction manager to supervise or coordinate projects or to provide major repairs or rehabilitation on our properties, the Company may pay the Property Manager up to 5.0% of the cost of the projects, repairs and/or rehabilitation, as applicable, or construction management fees. For the three and six months ended June 30, 2017 , the Company incurred $138,000 and $229,000 , respectively, in construction management fees to the Property Manager. Construction management fees are capitalized in buildings and improvements in the accompanying condensed consolidated balance sheets . Accounts Payable Due to Affiliates The following amounts were due to affiliates as of June 30, 2017 and December 31, 2016 (amounts in thousands): Entity Fee June 30, 2017 December 31, 2016 Carter/Validus Advisors, LLC and its affiliates Asset management fees $ 1,610 $ 1,604 Carter Validus Real Estate Management Services, LLC Property management fees 566 791 Carter/Validus Advisors, LLC and its affiliates General, administrative and other costs 407 174 Carter Validus Real Estate Management Services, LLC Construction management fees 112 66 $ 2,695 $ 2,635

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting Management reviews the performance of individual properties and aggregates individual properties based on operating criteria into two reportable segments—commercial real estate investments in data centers and healthcare—and makes operating decisions based on these two reportable segments. The Company’s commercial real estate investments in data centers and healthcare are based on certain underwriting assumptions and operating criteria, which are different for data centers and healthcare. There were no intersegment sales or transfers during the three and six months ended June 30, 2017 and 2016 . The Company evaluates performance based on net operating income of the individual properties in each segment. Net operating income, a non-GAAP financial measure, is defined as total revenues, less rental and parking expenses, which excludes depreciation and amortization, general and administrative expenses, asset management fees, acquisition related expenses, change in fair value of contingent consideration, interest expense, net, provision for loan losses and other interest and dividend income. The Company believes that segment net operating income serves as a useful supplement to net income because it allows investors and management to measure unlevered property-level operating results and to compare operating results to the operating results of other real estate companies between periods on a consistent basis. Segment net operating income should not be considered as an alternative to net income determined in accordance with GAAP as an indicator of financial performance, and accordingly, the Company believes that in order to facilitate a clear understanding of the consolidated historical operating results, segment net operating income should be examined in conjunction with net income as presented in the accompanying condensed consolidated financial statements and data included elsewhere in this Quarterly Report on Form 10-Q . Non-segment assets primarily consist of corporate assets, including cash and cash equivalents, real estate and escrow deposits, deferred financing costs attributable to the revolving line of credit portion of the Company's unsecured credit facility, real estate-related notes receivable and other assets not attributable to individual properties. Summary information for the reportable segments during the three and six months ended June 30, 2017 and 2016 , is as follows (amounts in thousands): Data Healthcare Three Months Ended Revenue: Rental, parking and tenant reimbursement revenue $ 30,112 $ 25,877 $ 55,989 Expenses: Rental and parking expenses (5,229 ) (2,484 ) (7,713 ) Segment net operating income $ 24,883 $ 23,393 48,276 Expenses: General and administrative expenses (1,997 ) Change in fair value of contingent consideration (100 ) Asset management fees (4,827 ) Depreciation and amortization (18,088 ) Income from operations 23,264 Other income (expense): Other interest and dividend income 491 Interest expense, net (8,859 ) Provision for loan losses (1,688 ) Net income $ 13,208 Data Healthcare Three Months Ended Revenue: Rental, parking and tenant reimbursement revenue $ 28,971 $ 29,916 $ 58,887 Expenses: Rental and parking expenses (4,936 ) (2,437 ) (7,373 ) Segment net operating income $ 24,035 $ 27,479 51,514 Expenses: General and administrative expenses (1,587 ) Change in fair value of contingent consideration (125 ) Acquisition related expenses (1,640 ) Asset management fees (4,877 ) Depreciation and amortization (17,349 ) Income from operations 25,936 Other income (expense): Other interest and dividend income 2,857 Interest expense, net (9,213 ) Provision for loan losses (1,666 ) Net income $ 17,914 Data Healthcare Six Months Ended Revenue: Rental, parking and tenant reimbursement revenue $ 59,806 $ 47,573 $ 107,379 Expenses: Rental and parking expenses (10,013 ) (5,091 ) (15,104 ) Segment net operating income $ 49,793 $ 42,482 92,275 Expenses: General and administrative expenses (3,680 ) Change in fair value of contingent consideration 1,040 Asset management fees (9,646 ) Depreciation and amortization (36,155 ) Income from operations 43,834 Other income (expense): Other interest and dividend income 1,054 Interest expense, net (17,524 ) Provision for loan losses (4,172 ) Net income $ 23,192 Data Healthcare Six Months Ended Revenue: Rental, parking and tenant reimbursement revenue $ 57,633 $ 57,764 $ 115,397 Expenses: Rental and parking expenses (9,759 ) (4,253 ) (14,012 ) Segment net operating income $ 47,874 $ 53,511 101,385 Expenses: General and administrative expenses (3,168 ) Change in fair value of contingent consideration (245 ) Acquisition related expenses (1,640 ) Asset management fees (9,664 ) Depreciation and amortization (34,348 ) Income from operations 52,320 Other income (expense): Other interest and dividend income 5,679 Interest expense, net (19,827 ) Provision for loan losses (1,666 ) Net income $ 36,506 Assets by each reportable segment as of June 30, 2017 and December 31, 2016 are as follows (amounts in thousands): June 30, 2017 December 31, 2016 Assets by segment: Data centers $ 1,087,283 $ 1,102,550 Healthcare 1,191,007 1,190,087 All other 41,662 45,017 Total assets $ 2,319,952 $ 2,337,654 Capital additions and acquisitions by reportable segments for the six months ended June 30, 2017 and 2016 are as follows (amounts in thousands): Six Months Ended 2017 2016 Capital additions and acquisitions by segment: Data centers $ 579 $ 7,139 Healthcare 8,893 94,691 Total capital additions and acquisitions $ 9,472 $ 101,830

Future Minimum Rent

Future Minimum Rent	6 Months Ended
	Jun. 30, 2017
Leases [Abstract]
Future Minimum Rent	Future Minimum Rent Rental Income The Company’s real estate assets are leased to tenants under operating leases with varying terms. The leases frequently have provisions to extend the lease agreements. The Company retains substantially all of the risks and benefits of ownership of the real estate assets leased to tenants. The future minimum rent to be received from the Company’s investments in real estate assets under non-cancelable operating leases, including optional renewal periods for which exercise is reasonably assured, for the six months ending December 31, 2017 and for each of the next four years ending December 31 and thereafter, are as follows (amounts in thousands): Year Amount Six months ending December 31, 2017 $ 95,122 2018 193,897 2019 197,303 2020 198,317 2021 193,566 Thereafter 1,452,795 $ 2,331,000 Rental Expense The Company has ground lease obligations that generally require fixed annual rental payments and may also include escalation clauses and renewal options. The future minimum rent obligations under non-cancelable ground leases for the six months ending December 31, 2017 and for each of the next four years ended December 31 and thereafter, are as follows (amounts in thousands): Year Amount Six months ending December 31, 2017 $ 350 2018 702 2019 746 2020 746 2021 753 Thereafter 37,083 $ 40,380

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value	Fair Value Notes payable – Fixed Rate —The estimated fair value of notes payable – fixed rate measured using quoted prices and observable inputs from similar liabilities (Level 2) was approximately $104,566,000 and $116,402,000 as of June 30, 2017 and December 31, 2016 , respectively, as compared to the outstanding principal of $102,516,000 and $114,783,000 as of June 30, 2017 and December 31, 2016 , respectively. The estimated fair value of notes payable – variable rate fixed through interest rate swap agreements (Level 2) was approximately $326,448,000 and $328,512,000 as of June 30, 2017 and December 31, 2016 , respectively, as compared to the outstanding principal of $326,868,000 and $330,425,000 as of June 30, 2017 and December 31, 2016 , respectively. Notes payable – Variable —The outstanding principal of the notes payable – variable was $40,884,000 and $41,604,000 as of June 30, 2017 and December 31, 2016 , respectively, which approximated its fair value. The fair value of the Company's variable rate notes payable is estimated based on the interest rates currently offered to the Company by financial institutions. Unsecured credit facility —The outstanding principal balance of the unsecured credit facility – variable was $178,000,000 and $148,000,000 , which approximated its fair value, as of June 30, 2017 and December 31, 2016 , respectively. The estimated fair value of the unsecured credit facility – variable rate fixed through interest rate swap agreements (Level 2) was approximately $206,717,000 and $203,055,000 as of June 30, 2017 and December 31, 2016 , respectively, as compared to the outstanding principal of $210,000,000 and $210,000,000 as of June 30, 2017 and December 31, 2016 , respectively. Notes receivable —The outstanding principal balance of the notes receivable approximated the fair value as of June 30, 2017 . The fair value of the Company’s notes receivable is estimated using significant unobservable inputs not based on market activity, but rather through particular valuation techniques (Level 3). The fair value was measured based on the income approach valuation methodology, which requires certain judgments to be made by management. Contingent consideration —The Company has a contingent consideration obligation to pay a former owner in conjunction with a certain acquisition if specified future operational objectives are met over future reporting periods. Liabilities for contingent consideration will be measured at fair value each reporting period, with the acquisition-date fair value included as part of the consideration transferred, and subsequent changes in fair value recorded in earnings as change in fair value of contingent consideration. The estimated fair value of the contingent consideration was $4,600,000 and $5,640,000 as of June 30, 2017 and December 31, 2016 , respectively, which is reported in the accompanying condensed consolidated balance sheets in accounts payable and other liabilities. The Company uses an income approach to value the contingent consideration liability, which is determined based on the present value of probability-weighted future cash flows. The significant inputs to the discounted cash flow model were the discount rate and weighted probability scenarios. The Company has classified the contingent consideration liability as Level 3 of the fair value hierarchy due to the lack of relevant observable market data over fair value inputs such as probability-weighting for payment outcomes. Increases in the assessed likelihood of a high payout under a contingent consideration arrangement contributes to increases in the fair value of the related liability. Conversely, decreases in the assessed likelihood of a higher payout under a contingent consideration arrangement contributes to decreases in the fair value of the related liability. Changes in assumptions could have an impact on the payout of the contingent consideration arrangement with a maximum payout of $8,450,000 and a minimum payout of $0 as of June 30, 2017 . Derivative instruments — Considerable judgment is necessary to develop estimated fair values of financial instruments. Accordingly, the estimates presented herein are not necessarily indicative of the amount the Company could realize, or be liable for, on disposition of the financial instruments. The Company has determined that the majority of the inputs used to value its interest rate swaps fall within Level 2 of the fair value hierarchy. The credit valuation adjustments associated with these instruments utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by the Company and the respective counterparty. However, as of June 30, 2017 , the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions, and has determined that the credit valuation adjustments are not significant to the overall valuation of its interest rate swaps. As a result, the Company determined that its interest rate swaps valuation in its entirety is classified in Level 2 of the fair value hierarchy. See Note 12—"Derivative Instruments and Hedging Activities" for a further discussion of the Company’s derivative instruments. The following table shows the fair value of the Company’s financial assets and liabilities that are required to be measured at fair value on a recurring basis as of June 30, 2017 and December 31, 2016 (amounts in thousands): June 30, 2017 Fair Value Hierarchy Quoted Prices in Active Significant Other Significant Total Fair Assets: Derivative assets $ — $ 3,418 $ — $ 3,418 Total assets at fair value $ — $ 3,418 $ — $ 3,418 Liabilities: Derivative liabilities $ — $ (476 ) $ — $ (476 ) Contingent consideration obligation — — (4,600 ) (4,600 ) Total liabilities at fair value $ — $ (476 ) $ (4,600 ) $ (5,076 ) December 31, 2016 Fair Value Hierarchy Quoted Prices in Active Significant Other Significant Total Fair Assets: Derivative assets $ — $ 3,070 $ — $ 3,070 Total assets at fair value $ — $ 3,070 $ — $ 3,070 Liabilities: Derivative liabilities $ — $ (1,247 ) $ — $ (1,247 ) Contingent consideration obligation — — (5,640 ) (5,640 ) Total liabilities at fair value $ — $ (1,247 ) $ (5,640 ) $ (6,887 ) The following table provides a rollforward of the fair value of recurring Level 3 fair value measurements for the three and six months ended June 30, 2017 and 2016 (amounts in thousands): Three Months Ended Six Months Ended 2017 2016 2017 2016 Liabilities: Contingent consideration obligation: Beginning balance $ 4,500 $ 5,460 $ 5,640 $ 5,340 Additions to contingent consideration obligation — — — — Total changes in fair value included in earnings 100 125 (1,040 ) 245 Ending balance $ 4,600 $ 5,585 $ 4,600 $ 5,585 Unrealized losses (gains) still held (1) $ 100 $ 125 $ (1,040 ) $ 245 (1) Represents the unrealized losses (gains) recorded in earnings or other comprehensive income (loss) during the period for liabilities classified as Level 3 that are still held at the end of the period.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities Cash Flow Hedges of Interest Rate Risk The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish these objectives, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable rate amounts from a counterparty in exchange for the Company making fixed rate payments over the life of the agreements without exchange of the underlying notional amount. The effective portion of changes in the fair value of derivatives designated, and that qualify, as cash flow hedges is recorded in accumulated other comprehensive income in the accompanying condensed consolidated statement of stockholders' equity and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. During the six months ended June 30, 2017 , such derivatives were used to hedge the variable cash flows associated with variable rate debt. The ineffective portion of changes in fair value of the derivatives is recognized directly in earnings. During the three and six months ended June 30, 2017 , no gains or losses were recognized due to ineffectiveness of hedges of interest rate risk. During the three months ended June 30, 2016 , no gains or losses were recognized due to ineffectiveness of hedges of interest rate risk. During the six months ended June 30, 2016 , the Company accelerated the reclassification of amounts in other comprehensive income to earnings as a result of a hedged forecasted transaction becoming probable not to occur due to a related debt extinguishment. The accelerated amount was a loss of $728,000 , which was recorded in interest expense, net in the accompanying condensed consolidated statement of comprehensive income. Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s variable rate debt. During the next twelve months, the Company estimates that an additional $260,000 will be reclassified from accumulated other comprehensive income as a decrease to interest expense. See Note 11—"Fair Value" for a further discussion of the fair value of the Company’s derivative instruments. The following table summarizes the notional amount and fair value of the Company’s derivative instruments (amounts in thousands): Derivatives Balance Effective Maturity June 30, 2017 December 31, 2016 Outstanding Fair Value of Outstanding Fair Value of Asset (Liability) Asset (Liability) Interest rate swaps Other assets, net/Accounts 10/12/2012 to 10/11/2017 to $ 536,868 $ 3,418 $ (476 ) $ 540,425 $ 3,070 $ (1,247 ) The notional amount under the agreements is an indication of the extent of the Company’s involvement in each instrument at the time, but does not represent exposure to credit, interest rate or market risks. Accounting for changes in the fair value of a derivative instrument depends on the intended use and designation of the derivative instrument. The Company designated the interest rate swaps as cash flow hedges to hedge the variability of the anticipated cash flows on its variable rate notes payable. The change in fair value of the effective portion of the derivative instrument that is designated as a hedge is recorded in other comprehensive income (loss), or OCI, in the accompanying condensed consolidated statements of comprehensive income . The table below summarizes the amount of income and loss recognized on interest rate derivatives designated as cash flow hedges for the three and six months ended June 30, 2017 and 2016 (amounts in thousands): Derivatives in Cash Flow Hedging Relationships Amount of (Loss) Income Recognized Location Of Loss Amount of Loss Three Months Ended June 30, 2017 Interest rate swaps $ (744 ) Interest expense, net $ (360 ) Total $ (744 ) $ (360 ) Three Months Ended June 30, 2016 Interest rate swaps $ (3,680 ) Interest expense, net $ (1,074 ) Total $ (3,680 ) $ (1,074 ) Six Months Ended June 30, 2017 Interest rate swaps $ 90 Interest expense, net $ (1,029 ) Total $ 90 $ (1,029 ) Six Months Ended June 30, 2016 Interest rate swaps $ (9,320 ) Interest expense, net $ (2,851 ) Total $ (9,320 ) $ (2,851 ) Credit Risk-Related Contingent Features The Company has agreements with each of its derivative counterparties that contain cross-default provisions, whereby if the Company defaults on certain of its unsecured indebtedness, then the Company could also be declared in default on its derivative obligations, resulting in an acceleration of payment thereunder. In addition, the Company has agreements with each of its derivative counterparties that contain a provision where if the Company either defaults or is capable of being declared in default on any of its indebtedness, then the Company could also be declared in default on its derivative obligations. The Company records credit risk valuation adjustments on its interest rate swaps based on the respective credit quality of the Company and the counterparty. The Company believes it mitigates its credit risk by entering into agreements with creditworthy counterparties. As of June 30, 2017 , the fair value of derivatives in a net liability position, including accrued interest but excluding any adjustment for nonperformance risk related to these agreements, was $533,000 . Tabular Disclosure Offsetting Derivatives The Company has elected not to offset derivative positions in its condensed consolidated financial statements. The following table presents the effect on the Company’s financial position had the Company made the election to offset its derivative positions as of June 30, 2017 and December 31, 2016 (amounts in thousands): Offsetting of Derivative Assets Gross Amounts Not Offset in the Balance Sheet Gross Gross Amounts Net Amounts of Financial Instruments Cash Collateral Net June 30, 2017 $ 3,418 $ — $ 3,418 $ (35 ) $ — $ 3,383 December 31, 2016 $ 3,070 $ — $ 3,070 $ (10 ) $ — $ 3,060 Offsetting of Derivative Liabilities Gross Amounts Not Offset in the Balance Sheet Gross Gross Amounts Net Amounts of Financial Instruments Cash Collateral Net June 30, 2017 $ 476 $ — $ 476 $ (35 ) $ — $ 441 December 31, 2016 $ 1,247 $ — $ 1,247 $ (10 ) $ — $ 1,237 The Company reports derivatives in the accompanying condensed consolidated balance sheets as other assets, net and accounts payable and other liabilities.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Income The following table presents a rollforward of amounts recognized in accumulated other comprehensive income (loss), net of noncontrolling interests, by component for the six months ended June 30, 2017 and 2016 (amounts in thousands): Unrealized Income on Derivative Accumulated Other Balance as of December 31, 2016 $ 2,303 $ 1,823 Other comprehensive income before reclassification 90 90 Amount of loss reclassified from accumulated other comprehensive income to net income (effective portion) 1,029 1,029 Other comprehensive income 1,119 1,119 Balance as of June 30, 2017 $ 3,422 $ 2,942 Unrealized Loss on Derivative Accumulated Other Balance as of December 31, 2015 $ (2,100 ) $ (2,580 ) Other comprehensive loss before reclassification (9,320 ) (9,320 ) Amount of loss reclassified from accumulated other comprehensive loss to net income (effective portion and missed forecast) 2,851 2,851 Other comprehensive loss (6,469 ) (6,469 ) Balance as of June 30, 2016 $ (8,569 ) $ (9,049 ) The following table presents reclassifications out of accumulated other comprehensive income (loss) for the six months ended June 30, 2017 and 2016 (amounts in thousands): Details about Accumulated Other Amounts Reclassified from Affected Line Items in the Condensed Consolidated Statements of Comprehensive Six Months Ended 2017 2016 Interest rate swap contracts $ 1,029 $ 2,851 Interest expense, net

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation In the ordinary course of business, the Company may become subject to litigation or claims. As of June 30, 2017 , there were, and currently there are, no material pending legal proceedings to which the Company is a party.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Distributions Paid On July 3, 2017 , the Company paid aggregate distributions of $10,713,000 ( $5,196,000 in cash and $5,517,000 in shares of the Company’s common stock issued pursuant to the DRIP Offering), which related to distributions declared for each day in the period from June 1, 2017 through June 30, 2017. On August 1, 2017, the Company paid aggregate distributions of $11,071,000 ( $5,374,000 in cash and $5,697,000 in shares of the Company’s common stock issued pursuant to the DRIP Offering), which related to distributions declared for each day in the period from July 1, 2017 through July 31, 2017. Distributions Declared On August 3, 2017, the board of directors of the Company approved and declared a distribution to the Company’s stockholders of record as of the close of business on each day of the period commencing on September 1, 2017 and ending on November 30, 2017. The distributions will be calculated based on 365 days in the calendar year and will be equal to $0.001917808 per share of common stock. The distributions declared for each record date in September 2017, October 2017 and November 2017 will be paid in October 2017, November 2017 and December 2017, respectively. The distributions will be payable to stockholders from legally available funds therefor.

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The accompanying condensed consolidated financial statements include the accounts of the Company, the Operating Partnership, all majority-owned subsidiaries and controlled subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP necessarily requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. These estimates are made and evaluated on an ongoing basis using information that is currently available as well as various other assumptions believed to be reasonable under the circumstances. Actual results could differ from those estimates.
Allowance for Uncollectible Accounts	Allowance for Uncollectible Accounts Tenant receivables and unbilled deferred rent receivables are carried net of the allowances for uncollectible amounts. An allowance will be maintained for estimated losses resulting from the inability of certain tenants to meet the contractual obligations under their lease agreements. The Company also maintains an allowance for deferred rent receivables arising from the straight-lining of rents. The Company’s determination of the adequacy of these allowances is based primarily upon evaluations of historical loss experience, the tenant’s financial condition, security deposits, letters of credit, lease guarantees and current economic conditions and other relevant factors. For the three months ended June 30, 2017 and 2016 , the Company recorded $1,595,000 and $809,000 , respectively, and for the six months ended June 30, 2017 and 2016 , the Company recorded $9,259,000 and $809,000 , respectively, in provision for doubtful accounts related to reserves for rental and parking revenue and tenant reimbursement revenue, which are recognized in the accompanying condensed consolidated statements of comprehensive income as a deduction from rental and parking revenue and tenant reimbursement revenue.
Notes Receivable	Notes Receivable Notes receivable are reported at their outstanding principal balance, net of any unearned income, unamortized deferred fees and costs and allowances for loan losses. The unamortized deferred fees and costs are amortized over the life of the notes receivable, as applicable, and recorded in other interest and dividend income in the accompanying condensed consolidated statements of comprehensive income . The Company evaluates the collectability of both interest and principal on each note receivable to determine whether it is collectible primarily through the evaluation of credit quality indicators, such as the tenant's financial condition, evaluations of historical loss experience, current economic conditions and other relevant factors. Evaluating a note receivable for potential impairment requires management to exercise significant judgment. As of June 30, 2017 and December 31, 2016 , the aggregate balance on the Company's notes receivable before allowances for loan losses was $15,019,000 and $19,422,000 , respectively. For the three months ended June 30, 2017 and 2016 , the Company recorded $1,688,000 and $1,666,000 , respectively, and for the six months ended June 30, 2017 and 2016 , the Company recorded $4,172,000 and $1,666,000 , respectively, as an allowance to reduce the carrying value of notes receivable and accrued interest related to two tenants in provision for loan losses in the accompanying condensed consolidated financial statements.
Concentration of Credit Risk and Significant Leases	Concentration of Credit Risk and Significant Leases As of June 30, 2017 , the Company had cash on deposit, including restricted cash, in certain financial institutions that had deposits in excess of current federally insured levels; however, the Company has not experienced any losses in such accounts. The Company limits its cash investments to financial institutions with high credit standings; therefore, the Company believes it is not exposed to any significant credit risk on its cash deposits. To date, the Company has experienced no loss of, or lack of access to, cash in its accounts. As of June 30, 2017 , the Company owned real estate investments in 46 MSAs, (including one real estate investment owned through a consolidate d partnership), two of which accounted for 10.0% or more of contractual rental revenue. Real estate investments located in the Dallas-Ft. Worth-Arlington, Texas MSA and the Chicago-Naperville-Elgin, Illinois-Indiana-Wisconsin MSA accounted for an aggregate of 10.4% and 12.1% , respectively, of con tractual rental revenue for the six months ended June 30, 2017 . As of June 30, 2017 , the Company had one exposure to tenant concentration that accounted for 10.0% or more of rental revenue. The leases with AT&T Services, Inc. accounted for 11.9% of rental revenue for the six months ended June 30, 2017 .
Restricted Cash	Restricted Cash Restricted cash consists of restricted cash held in escrow and restricted bank deposits. Restricted cash held in escrow includes cash held by lenders in escrow accounts for tenant and capital improvements, repairs and maintenance and other lender reserves for certain properties, in accordance with the respective lender’s loan agreement. Restricted cash is reported in other assets, net in the accompanying condensed consolidated balance sheets . See Note 5—"Other Assets, Net." Restricted bank deposits consist of tenant receipts for certain properties which are required to be deposited into lender controlled accounts in accordance with the respective lender's loan agreement. Restricted bank deposits are reported in other assets, net in the accompanying condensed consolidated balance sheets . On April 1, 2017, the Company adopted ASU 2016-18, Restricted Cash , or ASU 2016-18. ASU 2016-18 requires that a statement of cash flows explain the change during a reporting period in the total of cash, cash equivalents, and amounts generally described as restricted cash. This ASU states that transfers between cash, cash equivalents, and restricted cash are not part of the Company’s operating, investing, and financing activities. Therefore, restricted cash should be included with cash and cash equivalents when reconciling the beginning of period and end of period total amounts shown on the statement of cash flows. As required, the Company retrospectively applied the guidance in ASU 2016-18 to the prior period presented, which resulted in an increase of $1,604,000 in net cash provided by financing activities and an increase of $169,000 in net cash provided by operating activities on the condensed consolidated statements of cash flows for the six months ended June 30, 2016 . The following table presents a reconciliation of the beginning of period and end of period cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets to the totals shown in the condensed consolidated statements of cash flows: Six Months Ended Beginning of period: 2017 2016 Cash and cash equivalents $ 42,613 $ 28,527 Restricted cash 14,992 14,543 Cash, cash equivalents and restricted cash $ 57,605 $ 43,070 End of period: Cash and cash equivalents $ 45,394 $ 30,099 Restricted cash 16,537 16,316 Cash, cash equivalents and restricted cash $ 61,931 $ 46,415
Share Repurchase Program	Share Repurchase Program The Company’s share repurchase program allows for repurchases of shares of the Company’s common stock when certain criteria are met. The share repurchase program provides that all repurchases during any calendar year, including those redeemable upon death or a qualifying disability of a stockholder, are limited to those that can be funded with equivalent reinvestments pursuant to the DRIP Offerings during the prior calendar year and other operating funds, if any, as the board of directors, in its sole discretion, may reserve for this purpose. Repurchases of shares of the Company’s common stock are at the sole discretion of the Company’s board of directors. In addition, the Company’s board of directors, in its sole discretion, may amend, suspend, reduce, terminate or otherwise change the share repurchase program upon 30 days ' prior notice to the Company’s stockholders for any reason it deems appropriate. The share repurchase program provides that the Company will limit the number of shares repurchased during any calendar year to 5.0% of the number of shares of common stock outstanding as of December 31st of the previous calendar year. During the six months ended June 30, 2017 , the Company received valid repurchase requests related to approximately 2,387,000 shares of common stock, all of which were repurchased in full for an aggregate purchase price of approximately $23,498,000 (an average of $9.84 per share). During the six months ended June 30, 2016 , the Company received valid repurchase requests related to approximately 1,758,000 shares of common stock, all of which were repurchased in full for an aggregate purchase price of approximately $16,996,000 (an average of $9.67 per share).
Earnings Per Share	Earnings Per Share Basic earnings per share for all periods presented are computed by dividing net income attributable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Shares of non-vested restricted common stock give rise to potentially dilutive shares of common stock. Diluted earnings per share are computed based on the weighted average number of shares outstanding and all potentially dilutive securities. For the three months ended June 30, 2017 and 2016 , diluted earnings per share reflected the effect of approximately 14,000 and 19,000 , respectively, of non-vested shares of restricted common stock that were outstanding as of such period. For the six months ended June 30, 2017 and 2016 , diluted earnings per share reflected the effect of approximately 16,000 and 20,000 , respectively, of non-vested shares of restricted common stock that were outstanding as of such period.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements On May 28, 2014, the Financial Accounting Standards Board, or the FASB, issued Accounting Standards Update, or ASU, 2014-09, Revenue from Contracts with Customers , or ASU 2014-09. The objective of ASU 2014-09 is to clarify the principles for recognizing revenue and to develop a common revenue standard for GAAP. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 defines a five-step process to achieve this core principle, which may require more judgment and estimates within the revenue recognition process than are required under existing GAAP. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606) Deferral of the Effective Date , or ASU 2015-14. ASU 2015-14 defers the effective date of ASU 2014-09 by one year to fiscal years and interim periods beginning after December 15, 2017. Early adoption is permitted as of the original effective date, which was annual reporting periods beginning after December 15, 2016, and the interim periods within that year. On March 17, 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers Principal versus Agent Considerations (Reporting Revenue Gross versus Net), or ASU 2016-08, which clarifies the implementation guidance on principal versus agent considerations in the new revenue recognition standard. ASU 2016-08 clarifies that an entity is a principal when it controls the specified good or service before that good or service is transferred to the customer, and is an agent when it does not control the specified good or service before it is transferred to the customer. The effective date and transition of this update is the same as the effective date and transition of ASU 2015-14. As the majority of the Company's revenue is derived from real estate lease contracts, as discussed in relation to ASU 2016-02, Leases , the Company does not expect that the adoption of ASU 2014-09 or related amendments and modifications will have a material impact on the condensed consolidated financial statements. On February 25, 2016, the FASB issued ASU 2016-02 , Leases , or ASU 2016-02. ASU 2016-02 establishes the principles to increase the transparency about the assets and liabilities arising from leases. ASU 2016-02 results in a more faithful representation of the rights and obligations arising from leases by requiring lessees to recognize the lease assets and lease liabilities that arise from leases in the statement of financial position and to disclose qualitative and quantitative information about lease transactions and aligns lessor accounting and sale leaseback transactions guidance more closely to comparable guidance in Topic 606, Revenue from Contracts with Customers , and Topic 610, Other Income . Under ASU 2016-02, a lessee is required to record a right of use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. The Company is a lessee on a limited number of ground leases, which will result in the recognition of a right of use asset and lease liability upon the adoption of ASU 2016-02. Lessor accounting remains largely unchanged, apart from the narrower scope of initial direct costs that can be capitalized. The new standard will result in certain costs, such as legal costs related to lease negotiations, being expensed rather than capitalized. In addition, ASU 2016-02 requires lessors to identify the lease and non-lease components, such as common area maintenance, contained within each lease. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The Company is in process of evaluating the impact ASU 2016-02 will have on the Company's condensed consolidated financial statements. On June 16, 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses, or ASU 2016-13. ASU 2016-13 requires more timely recording of credit losses on loans and other financial instruments that are not accounted for at fair value through net income, including loans held for investment, held-to-maturity debt securities, trade and other receivables, net investment in leases and other such commitments. ASU 2016-13 requires that financial assets measured at amortized cost be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. The amendments in ASU 2016-13 require the Company to measure all expected credit losses based upon historical experience, current conditions and reasonable and supportable forecasts that affect the collectability of the financial assets and eliminates the “incurred loss” methodology in current GAAP. ASU 2016-13 is effective for fiscal years, and interim periods within, beginning after December 15, 2019. Early adoption is permitted for fiscal years, and interim periods within, beginning after December 15, 2018. The Company is in the process of evaluating the impact ASU 2016-13 will have on the Company’s condensed consolidated financial statements. The Company believes that certain financial statements' accounts will be impacted by the adoption of ASU 2016-13, including allowances for doubtful accounts with respect to accounts receivable, straight-line rents receivable and notes receivable. On February 23, 2017, the FASB issued ASU 2017-05, Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets, or ASU 2017-05. ASU 2017-05 clarifies the scope of asset derecognition guidance and accounting for partial sales of nonfinancial assets. Partial sales of nonfinancial assets are common in the real estate industry and include transactions in which the seller retains an equity interest in the entity that owns the assets or has an equity interest in the buyer. ASU 2017-05 is effective for fiscal years beginning after December 15, 2017, including interim reporting periods within those fiscal years. Early adoption is permitted. The Company is in process of evaluating the impact ASU 2017-05 will have on the Company’s condensed consolidated financial statements. T he Company does not expect that the adoption of ASU 2017-05 will have a material impact on the condensed consolidated financial statements.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform to the current financial statement presentation, with no effect on the Company’s condensed consolidated financial position or results of operations.

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Reconciliation of Cash, Cash Equivalents and Restricted Cash	The following table presents a reconciliation of the beginning of period and end of period cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets to the totals shown in the condensed consolidated statements of cash flows: Six Months Ended Beginning of period: 2017 2016 Cash and cash equivalents $ 42,613 $ 28,527 Restricted cash 14,992 14,543 Cash, cash equivalents and restricted cash $ 57,605 $ 43,070 End of period: Cash and cash equivalents $ 45,394 $ 30,099 Restricted cash 16,537 16,316 Cash, cash equivalents and restricted cash $ 61,931 $ 46,415

Acquired Intangible Assets, N25

Acquired Intangible Assets, Net (Tables)	6 Months Ended
	Jun. 30, 2017
Finite-Lived Intangible Assets, Net [Abstract]
Schedule of Acquired Intangible Assets, Net	Acquired intangible assets, net, consisted of the following as of June 30, 2017 and December 31, 2016 (amounts in thousands, except weighted average life amounts): June 30, 2017 December 31, 2016 In-place leases, net of accumulated amortization of $60,131 and $51,837, respectively (with a weighted average remaining life of 12.5 years and 12.9 years, respectively) $ 164,497 $ 172,791 Above-market leases, net of accumulated amortization of $1,463 and $1,303, respectively (with a weighted average remaining life of 9.8 years and 10.3 years, respectively) 2,897 3,057 Ground lease interest, net of accumulated amortization of $258 and $232, respectively (with a weighted average remaining life of 59.1 years and 59.5 years, respectively) 2,556 2,582 $ 169,950 $ 178,430

Intangible Lease Liabilities,26

Intangible Lease Liabilities, Net (Tables)	6 Months Ended
	Jun. 30, 2017
Intangible Lease Liabilities, Net [Abstract]
Schedule of Intangible Lease Liabilities, Net	Intangible lease liabilities, net, consisted of the following as of June 30, 2017 and December 31, 2016 (amounts in thousands, except weighted average life amounts): June 30, 2017 December 31, 2016 Below-market leases, net of accumulated amortization of $17,708 and $16,031, respectively (with a weighted average remaining life of 16.7 years and 17.1 years, respectively) $ 42,697 $ 44,374 Ground leasehold liabilities, net of accumulated amortization of $363 and $301, respectively (with a weighted average remaining life of 41.7 years and 42.2 years, respectively) 4,962 5,024 $ 47,659 $ 49,398

Other Assets, Net (Tables)

Other Assets, Net (Tables)	6 Months Ended
	Jun. 30, 2017
Other Assets [Abstract]
Schedule of Other Assets, Net	Other assets, net consisted of the following as of June 30, 2017 and December 31, 2016 (amounts in thousands): June 30, 2017 December 31, 2016 Deferred financing costs related to the revolver portion of the unsecured credit facility, net of accumulated amortization of $6,544 and $5,833, respectively $ 1,578 $ 877 Lease commissions, net of accumulated amortization of $838 and $557, respectively 4,878 4,869 Investments in unconsolidated partnerships 123 113 Tenant receivables, net of allowances for doubtful accounts of $3,239 and $6,007, respectively 6,134 10,475 Notes receivable, net of allowances for loan losses of $2,858 and $4,294, respectively 12,161 15,128 Real estate-related notes receivable 514 514 Straight-line rent receivable 62,333 53,545 Restricted cash 16,537 14,992 Derivative assets 3,418 3,070 Prepaid and other assets 2,849 2,156 $ 110,525 $ 105,739

Accounts Payable and Other Li28

Accounts Payable and Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2017
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Other Liabilities	Accounts payable and other liabilities, as of June 30, 2017 and December 31, 2016 , were comprised of the following (amounts in thousands): June 30, 2017 December 31, 2016 Accounts payable and accrued expenses $ 7,724 $ 7,200 Accrued interest expense 2,807 2,855 Accrued property taxes 3,594 4,277 Contingent consideration obligations 4,600 5,640 Distributions payable to stockholders 10,713 10,968 Tenant deposits 1,039 1,039 Deferred rental income 10,259 6,970 Derivative liabilities 476 1,247 $ 41,212 $ 40,196

Notes Payable and Unsecured C29

Notes Payable and Unsecured Credit Facility (Tables)	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Schedule of Debt	The Company's debt outstanding as of June 30, 2017 and December 31, 2016 consisted of the following (amounts in thousands): June 30, 2017 December 31, 2016 Notes payable: Fixed rate notes payable $ 102,516 $ 114,783 Variable rate notes payable fixed through interest rate swaps 326,868 330,425 Variable rate notes payable 40,884 41,604 Total notes payable, principal amount outstanding 470,268 486,812 Unamortized deferred financing costs related to notes payable (1,777 ) (2,542 ) Total notes payable, net of deferred financing costs 468,491 484,270 Unsecured credit facility: Revolving line of credit 178,000 148,000 Term loan 210,000 210,000 Total unsecured credit facility, principal amount outstanding 388,000 358,000 Unamortized deferred financing costs related to the term loan of the unsecured credit facility (1,303 ) (1,789 ) Total unsecured credit facility, net of deferred financing costs 386,697 356,211 Total debt outstanding $ 855,188 $ 840,481
Schedule of Future Principal Payments Due on Notes Payable and Unsecured Credit Facility	The principal payments due on the notes payable and unsecured credit facility for the six months ending December 31, 2017 and for each of the next four years ending December 31 and thereafter, are as follows (amounts in thousands): Year Amount Six months ending December 31, 2017 $ 174,422 (1) 2018 326,965 2019 170,719 2020 136,160 2021 1,239 Thereafter 48,763 $ 858,268 (1) Of this amount, $105,850,000 relates to one loan agreement with a maturity date of August 21, 2017 , subject to the Company's right to a two -year extension and $18,575,000 relates to one loan agreement with a maturity date of October 11, 2017 , subject to the Company's right to two one -year extensions. The Company may refinance these loan agreements or exercise the extension options depending upon refinancing terms available at the time. In addition, $45,476,000 relates to two loan agreements that the Company may elect to add to the unencumbered pool of the unsecured credit facility.

Related-Party Transactions an30

Related-Party Transactions and Arrangements (Tables)	6 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
Schedule of Accounts Payable Due to Affiliates	The following amounts were due to affiliates as of June 30, 2017 and December 31, 2016 (amounts in thousands): Entity Fee June 30, 2017 December 31, 2016 Carter/Validus Advisors, LLC and its affiliates Asset management fees $ 1,610 $ 1,604 Carter Validus Real Estate Management Services, LLC Property management fees 566 791 Carter/Validus Advisors, LLC and its affiliates General, administrative and other costs 407 174 Carter Validus Real Estate Management Services, LLC Construction management fees 112 66 $ 2,695 $ 2,635

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Schedule of Information for Reportable Segments	Summary information for the reportable segments during the three and six months ended June 30, 2017 and 2016 , is as follows (amounts in thousands): Data Healthcare Three Months Ended Revenue: Rental, parking and tenant reimbursement revenue $ 30,112 $ 25,877 $ 55,989 Expenses: Rental and parking expenses (5,229 ) (2,484 ) (7,713 ) Segment net operating income $ 24,883 $ 23,393 48,276 Expenses: General and administrative expenses (1,997 ) Change in fair value of contingent consideration (100 ) Asset management fees (4,827 ) Depreciation and amortization (18,088 ) Income from operations 23,264 Other income (expense): Other interest and dividend income 491 Interest expense, net (8,859 ) Provision for loan losses (1,688 ) Net income $ 13,208 Data Healthcare Three Months Ended Revenue: Rental, parking and tenant reimbursement revenue $ 28,971 $ 29,916 $ 58,887 Expenses: Rental and parking expenses (4,936 ) (2,437 ) (7,373 ) Segment net operating income $ 24,035 $ 27,479 51,514 Expenses: General and administrative expenses (1,587 ) Change in fair value of contingent consideration (125 ) Acquisition related expenses (1,640 ) Asset management fees (4,877 ) Depreciation and amortization (17,349 ) Income from operations 25,936 Other income (expense): Other interest and dividend income 2,857 Interest expense, net (9,213 ) Provision for loan losses (1,666 ) Net income $ 17,914 Data Healthcare Six Months Ended Revenue: Rental, parking and tenant reimbursement revenue $ 59,806 $ 47,573 $ 107,379 Expenses: Rental and parking expenses (10,013 ) (5,091 ) (15,104 ) Segment net operating income $ 49,793 $ 42,482 92,275 Expenses: General and administrative expenses (3,680 ) Change in fair value of contingent consideration 1,040 Asset management fees (9,646 ) Depreciation and amortization (36,155 ) Income from operations 43,834 Other income (expense): Other interest and dividend income 1,054 Interest expense, net (17,524 ) Provision for loan losses (4,172 ) Net income $ 23,192 Data Healthcare Six Months Ended Revenue: Rental, parking and tenant reimbursement revenue $ 57,633 $ 57,764 $ 115,397 Expenses: Rental and parking expenses (9,759 ) (4,253 ) (14,012 ) Segment net operating income $ 47,874 $ 53,511 101,385 Expenses: General and administrative expenses (3,168 ) Change in fair value of contingent consideration (245 ) Acquisition related expenses (1,640 ) Asset management fees (9,664 ) Depreciation and amortization (34,348 ) Income from operations 52,320 Other income (expense): Other interest and dividend income 5,679 Interest expense, net (19,827 ) Provision for loan losses (1,666 ) Net income $ 36,506
Schedule of Assets by Reportable Segments	Assets by each reportable segment as of June 30, 2017 and December 31, 2016 are as follows (amounts in thousands): June 30, 2017 December 31, 2016 Assets by segment: Data centers $ 1,087,283 $ 1,102,550 Healthcare 1,191,007 1,190,087 All other 41,662 45,017 Total assets $ 2,319,952 $ 2,337,654
Schedule of Capital Additions and Acquisitions by Reportable Segments	Capital additions and acquisitions by reportable segments for the six months ended June 30, 2017 and 2016 are as follows (amounts in thousands): Six Months Ended 2017 2016 Capital additions and acquisitions by segment: Data centers $ 579 $ 7,139 Healthcare 8,893 94,691 Total capital additions and acquisitions $ 9,472 $ 101,830

Future Minimum Rent (Tables)

Future Minimum Rent (Tables)	6 Months Ended
	Jun. 30, 2017
Leases [Abstract]
Schedule of Future Minimum Rental Income from Non-Cancelable Operating Leases	The future minimum rent to be received from the Company’s investments in real estate assets under non-cancelable operating leases, including optional renewal periods for which exercise is reasonably assured, for the six months ending December 31, 2017 and for each of the next four years ending December 31 and thereafter, are as follows (amounts in thousands): Year Amount Six months ending December 31, 2017 $ 95,122 2018 193,897 2019 197,303 2020 198,317 2021 193,566 Thereafter 1,452,795 $ 2,331,000
Schedule of Future Minimum Rental Payments Under Non-Cancelable Ground Leases	The future minimum rent obligations under non-cancelable ground leases for the six months ending December 31, 2017 and for each of the next four years ended December 31 and thereafter, are as follows (amounts in thousands): Year Amount Six months ending December 31, 2017 $ 350 2018 702 2019 746 2020 746 2021 753 Thereafter 37,083 $ 40,380

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table shows the fair value of the Company’s financial assets and liabilities that are required to be measured at fair value on a recurring basis as of June 30, 2017 and December 31, 2016 (amounts in thousands): June 30, 2017 Fair Value Hierarchy Quoted Prices in Active Significant Other Significant Total Fair Assets: Derivative assets $ — $ 3,418 $ — $ 3,418 Total assets at fair value $ — $ 3,418 $ — $ 3,418 Liabilities: Derivative liabilities $ — $ (476 ) $ — $ (476 ) Contingent consideration obligation — — (4,600 ) (4,600 ) Total liabilities at fair value $ — $ (476 ) $ (4,600 ) $ (5,076 ) December 31, 2016 Fair Value Hierarchy Quoted Prices in Active Significant Other Significant Total Fair Assets: Derivative assets $ — $ 3,070 $ — $ 3,070 Total assets at fair value $ — $ 3,070 $ — $ 3,070 Liabilities: Derivative liabilities $ — $ (1,247 ) $ — $ (1,247 ) Contingent consideration obligation — — (5,640 ) (5,640 ) Total liabilities at fair value $ — $ (1,247 ) $ (5,640 ) $ (6,887 )
Schedule of Reconciliation of Fair Value of Recurring Level 3 Fair Value Measurements	The following table provides a rollforward of the fair value of recurring Level 3 fair value measurements for the three and six months ended June 30, 2017 and 2016 (amounts in thousands): Three Months Ended Six Months Ended 2017 2016 2017 2016 Liabilities: Contingent consideration obligation: Beginning balance $ 4,500 $ 5,460 $ 5,640 $ 5,340 Additions to contingent consideration obligation — — — — Total changes in fair value included in earnings 100 125 (1,040 ) 245 Ending balance $ 4,600 $ 5,585 $ 4,600 $ 5,585 Unrealized losses (gains) still held (1) $ 100 $ 125 $ (1,040 ) $ 245 (1) Represents the unrealized losses (gains) recorded in earnings or other comprehensive income (loss) during the period for liabilities classified as Level 3 that are still held at the end of the period.

Derivative Instruments and He34

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of the Notional Amount and Fair Value of Derivative Instruments	The following table summarizes the notional amount and fair value of the Company’s derivative instruments (amounts in thousands): Derivatives Balance Effective Maturity June 30, 2017 December 31, 2016 Outstanding Fair Value of Outstanding Fair Value of Asset (Liability) Asset (Liability) Interest rate swaps Other assets, net/Accounts 10/12/2012 to 10/11/2017 to $ 536,868 $ 3,418 $ (476 ) $ 540,425 $ 3,070 $ (1,247 )
Schedule of Income or Loss Recognized on Derivative Instruments	The table below summarizes the amount of income and loss recognized on interest rate derivatives designated as cash flow hedges for the three and six months ended June 30, 2017 and 2016 (amounts in thousands): Derivatives in Cash Flow Hedging Relationships Amount of (Loss) Income Recognized Location Of Loss Amount of Loss Three Months Ended June 30, 2017 Interest rate swaps $ (744 ) Interest expense, net $ (360 ) Total $ (744 ) $ (360 ) Three Months Ended June 30, 2016 Interest rate swaps $ (3,680 ) Interest expense, net $ (1,074 ) Total $ (3,680 ) $ (1,074 ) Six Months Ended June 30, 2017 Interest rate swaps $ 90 Interest expense, net $ (1,029 ) Total $ 90 $ (1,029 ) Six Months Ended June 30, 2016 Interest rate swaps $ (9,320 ) Interest expense, net $ (2,851 ) Total $ (9,320 ) $ (2,851 )
Schedule of Offsetting of Derivative Assets	The following table presents the effect on the Company’s financial position had the Company made the election to offset its derivative positions as of June 30, 2017 and December 31, 2016 (amounts in thousands): Offsetting of Derivative Assets Gross Amounts Not Offset in the Balance Sheet Gross Gross Amounts Net Amounts of Financial Instruments Cash Collateral Net June 30, 2017 $ 3,418 $ — $ 3,418 $ (35 ) $ — $ 3,383 December 31, 2016 $ 3,070 $ — $ 3,070 $ (10 ) $ — $ 3,060
Schedule of Offsetting of Derivative Liabilities	Offsetting of Derivative Liabilities Gross Amounts Not Offset in the Balance Sheet Gross Gross Amounts Net Amounts of Financial Instruments Cash Collateral Net June 30, 2017 $ 476 $ — $ 476 $ (35 ) $ — $ 441 December 31, 2016 $ 1,247 $ — $ 1,247 $ (10 ) $ — $ 1,237

Accumulated Other Comprehensi35

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Schedule of Amounts Recognized in Accumulated Other Comprehensive Income (Loss)	The following table presents a rollforward of amounts recognized in accumulated other comprehensive income (loss), net of noncontrolling interests, by component for the six months ended June 30, 2017 and 2016 (amounts in thousands): Unrealized Income on Derivative Accumulated Other Balance as of December 31, 2016 $ 2,303 $ 1,823 Other comprehensive income before reclassification 90 90 Amount of loss reclassified from accumulated other comprehensive income to net income (effective portion) 1,029 1,029 Other comprehensive income 1,119 1,119 Balance as of June 30, 2017 $ 3,422 $ 2,942 Unrealized Loss on Derivative Accumulated Other Balance as of December 31, 2015 $ (2,100 ) $ (2,580 ) Other comprehensive loss before reclassification (9,320 ) (9,320 ) Amount of loss reclassified from accumulated other comprehensive loss to net income (effective portion and missed forecast) 2,851 2,851 Other comprehensive loss (6,469 ) (6,469 ) Balance as of June 30, 2016 $ (8,569 ) $ (9,049 )
Schedule of Reclassifications Out of Accumulated Other Comprehensive Income (Loss)	The following table presents reclassifications out of accumulated other comprehensive income (loss) for the six months ended June 30, 2017 and 2016 (amounts in thousands): Details about Accumulated Other Amounts Reclassified from Affected Line Items in the Condensed Consolidated Statements of Comprehensive Six Months Ended 2017 2016 Interest rate swap contracts $ 1,029 $ 2,851 Interest expense, net

Organization and Business Ope36

Organization and Business Operations (Details)	Jun. 30, 2017USD ($)real_estate_investmentmetropolitanpropertyshares	Jun. 06, 2014USD ($)	Jun. 30, 2017USD ($)real_estate_investmentmetropolitansegmentpropertyshares	Jun. 30, 2016USD ($)	May 22, 2017USD ($)$ / sharesshares	Dec. 31, 2016shares
Organization and Business Operations [Line Items]
Number of reportable business segments | segment			2
Number of Company owned real estate investments | real_estate_investment	49		49
Number of Company owned properties | property	84		84
Number of metropolitan statistical areas in which Company owns real estate investments | metropolitan	46		46
Common stock, shares authorized | shares	300,000,000		300,000,000			300,000,000
Redemption of common stock			$ 23,498,000	$ 16,996,000
Initial Public Offering [Member]
Organization and Business Operations [Line Items]
Common stock offering, gross proceeds raised		$ 1,716,046,000
DRIP Offering [Member]
Organization and Business Operations [Line Items]
Common stock, shares authorized | shares					11,387,512
Share price (in dollars per share) | $ / shares					$ 9.519
Common stock offering, value authorized					$ 108,397,727
Initial Public Offering and DRIP Offerings [Member]
Organization and Business Operations [Line Items]
Common stock offering, gross proceeds raised	$ 1,913,309,000
Common stock offering, shares issued | shares	193,312,000
Redemption of common stock	$ 71,360,000
Offering costs, selling commissions and dealer manager fees	$ 174,825,000
Consolidated Partnership [Member]
Organization and Business Operations [Line Items]
Number of Company owned real estate investments | real_estate_investment	1		1

Summary of Significant Accoun37

Summary of Significant Accounting Policies (Narrative) (Details) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)real_estate_investmentmetropolitantenantshares	Jun. 30, 2016USD ($)shares	Jun. 30, 2017USD ($)receivablereal_estate_investmentmetropolitantenant$ / sharesshares	Jun. 30, 2016USD ($)$ / sharesshares	Dec. 31, 2016USD ($)
Summary of Significant Accounting Policies [Line Items]
Provision for doubtful accounts	$ 1,595	$ 809	$ 9,259	$ 809
Notes receivable before allowances for loan losses	15,019		15,019		$ 19,422
Provision for loan losses	$ 1,688	$ 1,666	$ 4,172	1,666
Number of tenants with notes receivable nonperforming | receivable			2
Number of metropolitan statistical areas in which Company owns real estate investments | metropolitan	46		46
Number of Company owned real estate investments | real_estate_investment	49		49
Net cash provided by financing activities			$ (44,311)	49,499
Net cash provided by operating activities			$ 58,609	58,745
Period of notice required for changes to share repurchase program			30 days
Maximum number of shares available for repurchase during any calendar year, as percentage of common stock outstanding at end of prior year			5.00%
Repurchase of common stock			$ 23,498	$ 16,996
Repurchase of common stock, average price per share (in dollars per share) | $ / shares			$ 9.84	$ 9.67
Diluted earnings per share outstanding adjustment (in shares) | shares	14,000	19,000	16,000	20,000
Common Stock [Member]
Summary of Significant Accounting Policies [Line Items]
Repurchase of common stock (in shares) | shares			2,387,460	1,758,000
Repurchase of common stock			$ 24
ASU 2016-18 [Member]
Summary of Significant Accounting Policies [Line Items]
Net cash provided by financing activities				$ 1,604
Net cash provided by operating activities				$ 169
Rental Revenue [Member] | Geographic Concentration Risk [Member]
Summary of Significant Accounting Policies [Line Items]
Number of metropolitan statistical areas in which Company owns real estate investments | metropolitan	2		2
Rental Revenue [Member] | Geographic Concentration Risk [Member] | Dallas-Ft. Worth-Arlington, Texas MSA [Member]
Summary of Significant Accounting Policies [Line Items]
Concentration risk, percentage			10.40%
Rental Revenue [Member] | Geographic Concentration Risk [Member] | Chicago-Naperville-Elgin, Illinois-Indiana-Wisconsin MSA [Member]
Summary of Significant Accounting Policies [Line Items]
Concentration risk, percentage			12.10%
Rental Revenue [Member] | Customer Concentration Risk [Member]
Summary of Significant Accounting Policies [Line Items]
Number of tenants | tenant	1		1
Rental Revenue [Member] | Customer Concentration Risk [Member] | AT&T Services, Inc. [Member]
Summary of Significant Accounting Policies [Line Items]
Concentration risk, percentage			11.90%
Consolidated Partnership [Member]
Summary of Significant Accounting Policies [Line Items]
Number of Company owned real estate investments | real_estate_investment	1		1

Summary of Significant Accoun38

Summary of Significant Accounting Policies (Reconciliation of Cash, Cash Equivalents and Restricted Cash) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Accounting Policies [Abstract]
Cash and cash equivalents	$ 45,394	$ 42,613	$ 30,099	$ 28,527
Restricted cash	16,537	14,992	16,316	14,543
Cash, cash equivalents and restricted cash	$ 61,931	$ 57,605	$ 46,415	$ 43,070

Acquired Intangible Assets, N39

Acquired Intangible Assets, Net (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 18,088	$ 17,349	$ 36,155	$ 34,348
In-place leases, Ground lease interest and Above-market leases [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 4,240	$ 4,409	$ 8,480	$ 8,755

Acquired Intangible Assets, N40

Acquired Intangible Assets, Net (Schedule of Acquired Intangible Assets, Net) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired intangible asset, net of accumulated amortization	$ 169,950	$ 178,430
Acquired intangible asset, accumulated amortization	$ 61,852	$ 53,372
Acquired intangible asset, weighted average remaining life	13 years 2 months 12 days	13 years 6 months
In-place leases [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired intangible asset, net of accumulated amortization	$ 164,497	$ 172,791
Acquired intangible asset, accumulated amortization	$ 60,131	$ 51,837
Acquired intangible asset, weighted average remaining life	12 years 6 months	12 years 10 months 24 days
Above-market leases [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired intangible asset, net of accumulated amortization	$ 2,897	$ 3,057
Acquired intangible asset, accumulated amortization	$ 1,463	$ 1,303
Acquired intangible asset, weighted average remaining life	9 years 9 months 18 days	10 years 3 months 18 days
Ground lease interest [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired intangible asset, net of accumulated amortization	$ 2,556	$ 2,582
Acquired intangible asset, accumulated amortization	$ 258	$ 232
Acquired intangible asset, weighted average remaining life	59 years 1 month 6 days	59 years 6 months

Intangible Lease Liabilities,41

Intangible Lease Liabilities, Net (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Intangible Lease Liabilities, Net [Abstract]
Amortization of intangible lease liabilities	$ 870	$ 975	$ 1,739	$ 1,950

Intangible Lease Liabilities,42

Intangible Lease Liabilities, Net (Schedule of Intangible Lease Liabilities, Net) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Intangible Lease Liabilities, Net [Abstract]
Below-market leases, net of accumulated amortization of $17,708 and $16,031, respectively (with a weighted average remaining life of 16.7 years and 17.1 years, respectively)	$ 42,697	$ 44,374
Ground leasehold liabilities, net of accumulated amortization of $363 and $301, respectively (with a weighted average remaining life of 41.7 years and 42.2 years, respectively)	4,962	5,024
Total intangible lease liabilities, net	47,659	49,398
Below-market leases, accumulated amortization	$ 17,708	$ 16,031
Below-market leases, weighted average remaining life	16 years 8 months 12 days	17 years 1 month 6 days
Ground leasehold liabilities, accumulated amortization	$ 363	$ 301
Ground leasehold liabilities, weighted average remaining life	41 years 8 months 12 days	42 years 2 months 12 days
Intangible lease liabilities, weighted average remaining life	19 years 3 months 18 days	19 years 7 months 6 days

Other Assets, Net (Schedule of

Other Assets, Net (Schedule of Other Assets, Net) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Other Assets [Abstract]
Deferred financing costs related to the revolver portion of the unsecured credit facility, net of accumulated amortization of $6,544 and $5,833, respectively	$ 1,578	$ 877
Lease commissions, net of accumulated amortization of $838 and $557, respectively	4,878	4,869
Investments in unconsolidated partnerships	123	113
Tenant receivables, net of allowances for doubtful accounts of $3,239 and $6,007, respectively	6,134	10,475
Notes receivable, net of allowances for loan losses of $2,858 and $4,294, respectively	12,161	15,128
Real estate-related notes receivable	514	514
Straight-line rent receivable	62,333	53,545
Restricted cash	16,537	14,992	$ 16,316	$ 14,543
Derivative assets	3,418	3,070
Prepaid and other assets	2,849	2,156
Total other assets, net	110,525	105,739
Deferred financing costs related to the revolver portion of the unsecured credit facility, accumulated amortization	6,544	5,833
Lease commissions, accumulated amortization	838	557
Tenant receivables, allowances for doubtful accounts	3,239	6,007
Notes receivable, allowances for loan losses	$ 2,858	$ 4,294

Accounts Payable and Other Li44

Accounts Payable and Other Liabilities (Schedule of Accounts Payable and Other Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Payables and Accruals [Abstract]
Accounts payable and accrued expenses	$ 7,724	$ 7,200
Accrued interest expense	2,807	2,855
Accrued property taxes	3,594	4,277
Contingent consideration obligations	4,600	5,640
Distributions payable to stockholders	10,713	10,968
Tenant deposits	1,039	1,039
Deferred rental income	10,259	6,970
Derivative liabilities	476	1,247
Accounts payable and other liabilities	$ 41,212	$ 40,196

Notes Payable and Unsecured C45

Notes Payable and Unsecured Credit Facility (Narrative) (Details) $ in Thousands	Jun. 28, 2017USD ($)	Feb. 10, 2017USD ($)	Jan. 30, 2017extension	Jun. 30, 2017USD ($)extension	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
Payments on notes payable	$ 5,337	$ 5,645			$ 16,544	$ 37,353
Amount of decrease in total unencumbered pool availability					58,608
Draw on unsecured credit facility					30,000	$ 135,000
Unsecured credit facility, total unencumbered pool availability				$ 453,921	453,921
Unsecured credit facility, principal amount outstanding				388,000	388,000		$ 358,000
Unsecured credit facility, amount remaining to be drawn				$ 65,921	65,921
Revolving Line of Credit [Member]
Debt Instrument [Line Items]
Unsecured credit facility, maturity date			May 28, 2017	May 28, 2018
Unsecured credit facility, number of maturity extension periods | extension			1	2
Unsecured credit facility, available extension period			12 months	12 months
Unsecured credit facility, principal amount outstanding				$ 178,000	$ 178,000		$ 148,000

Notes Payable and Unsecured C46

Notes Payable and Unsecured Credit Facility (Schedule of Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Notes payable:
Notes payable, principal amount outstanding	$ 470,268	$ 486,812
Unamortized deferred financing costs related to notes payable	(1,777)	(2,542)
Notes payable, net of deferred financing costs	468,491	484,270
Unsecured credit facility:
Unsecured credit facility, principal amount outstanding	388,000	358,000
Unamortized deferred financing costs related to the term loan of the unsecured credit facility	(1,303)	(1,789)
Unsecured credit facility, net of deferred financing costs	386,697	356,211
Total debt outstanding	855,188	840,481
Revolving Line of Credit [Member]
Unsecured credit facility:
Unsecured credit facility, principal amount outstanding	178,000	148,000
Term Loan [Member]
Unsecured credit facility:
Unsecured credit facility, principal amount outstanding	210,000	210,000
Fixed Rate [Member]
Notes payable:
Notes payable, principal amount outstanding	102,516	114,783
Variable Rate Debt, Subject To Interest Rate Swap [Member]
Notes payable:
Notes payable, principal amount outstanding	326,868	330,425
Unsecured credit facility:
Unsecured credit facility, principal amount outstanding	210,000	210,000
Variable Rate [Member]
Notes payable:
Notes payable, principal amount outstanding	40,884	41,604
Unsecured credit facility:
Unsecured credit facility, principal amount outstanding	$ 178,000	$ 148,000

Notes Payable and Unsecured C47

Notes Payable and Unsecured Credit Facility (Schedule of Future Principal Payments Due on Notes Payable and Unsecured Credit Facility) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)extensionloan
Debt Instrument [Line Items]
Six months ending December 31, 2017	$ 174,422	[1]
2,018	326,965
2,019	170,719
2,020	136,160
2,021	1,239
Thereafter	48,763
Total	858,268
Note Payable One [Member]
Debt Instrument [Line Items]
Six months ending December 31, 2017	$ 105,850
Notes payable, maturity date	Aug. 21, 2017
Notes payable, extension period	2 years
Note Payable Two [Member]
Debt Instrument [Line Items]
Six months ending December 31, 2017	$ 18,575
Notes payable, maturity date	Oct. 11, 2017
Notes payable, extension period	1 year
Notes payable, number of extension periods | extension	2
Notes Payable [Member]
Debt Instrument [Line Items]
Six months ending December 31, 2017	$ 45,476
Number of loan agreements | loan	2
[1]	Of this amount, $105,850,000 relates to one loan agreement with a maturity date of August 21, 2017, subject to the Company's right to a two-year extension and $18,575,000 relates to one loan agreement with a maturity date of October 11, 2017, subject to the Company's right to two one-year extensions. The Company may refinance these loan agreements or exercise the extension options depending upon refinancing terms available at the time. In addition, $45,476,000 relates to two loan agreements that the Company may elect to add to the unencumbered pool of the unsecured credit facility.

Related-Party Transactions an48

Related-Party Transactions and Arrangements (Narrative) (Details)	Jun. 30, 2017USD ($)employee	Jun. 30, 2017USD ($)employee	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)employeeproperty	Jun. 30, 2016USD ($)
Related Party Transaction [Line Items]
Asset management fees incurred		$ 4,827,000	$ 4,877,000	$ 9,646,000	$ 9,664,000
Number of direct employees | employee	0	0		0
Maximum investment banking fees paid by Company, as percentage of transaction price				0.50%
Cumulative non-compounded annual return rate to investors, as a percent				8.00%
Carter/Validus Advisors, LLC [Member]
Related Party Transaction [Line Items]
Acquisition fee, as percentage of contract purchase price of each property or asset acquired				2.00%
Acquisition fee, as percentage of cost of development or redevelopment projects				2.00%
Acquisition fee, as percentage of amount advanced on mortgage loan				2.00%
Annual asset management fee, as percentage of aggregate asset value plus costs and expenses incurred by Advisor				0.85%
Monthly asset management fee, as percentage of aggregate asset value as of the last day of the immediately preceding month				0.07083%
Asset management fees incurred		$ 4,827,000	4,877,000	$ 9,646,000	9,664,000
Operating expenses allocated to the Company by the advisor		498,000	429,000	$ 953,000	857,000
Percentage of remaining net sales proceeds Advisor will receive after investors receive return				15.00%
Listing fee percentage				15.00%
Distribution percentage upon termination of Advisory agreement				15.00%
Carter/Validus Advisors, LLC And/Or Its Affiliates [Member]
Related Party Transaction [Line Items]
Acquisition fees incurred related to investments in real estate		0	1,420,000	$ 0	1,420,000
Minimum number of properties required to be sold to incur brokerage commission | property				1
Maximum brokerage commission paid by Company, as percentage of contract sales price				6.00%
Disposition fees incurred	$ 0
Subordinated participation in net sale proceeds	0
Subordinated incentive listing fees incurred	0
Subordinated termination fees	$ 0
Carter/Validus Advisors, LLC And/Or Its Affiliates [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Disposition fee, as percentage of contract sales price				1.00%
Percentage of brokerage commission paid by Company for properties sold that required a substantial amount of services				50.00%
Percentage of investment banking fees paid by Company for disposition, sale or merger of Company				50.00%
Carter Validus Real Estate Management Services, LLC [Member]
Related Party Transaction [Line Items]
Leasing and management fees, as percentage of gross revenues from single-tenant properties				3.00%
Leasing and management fees, as percentage of gross revenues from multi-tenant properties				4.00%
Oversight fee, as percentage of gross revenues from properties managed				1.00%
Property management fees incurred		1,012,000	1,324,000	$ 2,444,000	2,611,000
Leasing commissions incurred		0	$ 277,000	277,000	$ 277,000
Construction management fees		$ 138,000		$ 229,000
Carter Validus Real Estate Management Services, LLC [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Construction management fee, as percentage of cost of project				5.00%

Related-Party Transactions An49

Related-Party Transactions And Arrangements (Schedule of Accounts Payable Due to Affiliates) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Related Party Transaction [Line Items]
Accounts payable due to affiliates	$ 2,695	$ 2,635
Carter/Validus Advisors, LLC And/Or Its Affiliates [Member] | Asset Management Fees [Member]
Related Party Transaction [Line Items]
Accounts payable due to affiliates	1,610	1,604
Carter/Validus Advisors, LLC And/Or Its Affiliates [Member] | General, Administrative and Other Costs [Member]
Related Party Transaction [Line Items]
Accounts payable due to affiliates	407	174
Carter Validus Real Estate Management Services, LLC [Member] | Property Management Fees [Member]
Related Party Transaction [Line Items]
Accounts payable due to affiliates	566	791
Carter Validus Real Estate Management Services, LLC [Member] | Construction Management Fees [Member]
Related Party Transaction [Line Items]
Accounts payable due to affiliates	$ 112	$ 66

Segment Reporting (Narrative) (

Segment Reporting (Narrative) (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)segment	Jun. 30, 2016USD ($)
Segment Reporting Information [Line Items]
Number of reportable business segments | segment			2
Revenue	$ 55,989,000	$ 58,887,000	$ 107,379,000	$ 115,397,000
Intersegment Elimination [Member]
Segment Reporting Information [Line Items]
Revenue	$ 0	$ 0	$ 0	$ 0

Segment Reporting (Schedule of

Segment Reporting (Schedule of Information for Reportable Segments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Segment Reporting Information [Line Items]
Rental and parking expenses	$ (7,713)	$ (7,373)	$ (15,104)	$ (14,012)
Income from operations	23,264	25,936	43,834	52,320
General and administrative expenses	(1,997)	(1,587)	(3,680)	(3,168)
Change in fair value of contingent consideration	(100)	(125)	1,040	(245)
Acquisition related expenses	0	(1,640)	0	(1,640)
Asset management fees	(4,827)	(4,877)	(9,646)	(9,664)
Depreciation and amortization	(18,088)	(17,349)	(36,155)	(34,348)
Other interest and dividend income	491	2,857	1,054	5,679
Interest expense, net	(8,859)	(9,213)	(17,524)	(19,827)
Provision for loan losses	(1,688)	(1,666)	(4,172)	(1,666)
Net income	13,208	17,914	23,192	36,506
Operating Segments [Member]
Segment Reporting Information [Line Items]
Rental, parking and tenant reimbursement revenue	55,989	58,887	107,379	115,397
Rental and parking expenses	(7,713)	(7,373)	(15,104)	(14,012)
Income from operations	48,276	51,514	92,275	101,385
Operating Segments [Member] | Data Centers [Member]
Segment Reporting Information [Line Items]
Rental, parking and tenant reimbursement revenue	30,112	28,971	59,806	57,633
Rental and parking expenses	(5,229)	(4,936)	(10,013)	(9,759)
Income from operations	24,883	24,035	49,793	47,874
Operating Segments [Member] | Healthcare [Member]
Segment Reporting Information [Line Items]
Rental, parking and tenant reimbursement revenue	25,877	29,916	47,573	57,764
Rental and parking expenses	(2,484)	(2,437)	(5,091)	(4,253)
Income from operations	$ 23,393	$ 27,479	$ 42,482	$ 53,511

Segment Reporting (Schedule o52

Segment Reporting (Schedule of Assets by Reportable Segments) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Assets by segment [Line Items]
Total assets	$ 2,319,952	$ 2,337,654
Operating Segments [Member] | Data Centers [Member]
Assets by segment [Line Items]
Total assets	1,087,283	1,102,550
Operating Segments [Member] | Healthcare [Member]
Assets by segment [Line Items]
Total assets	1,191,007	1,190,087
All Other [Member]
Assets by segment [Line Items]
Total assets	$ 41,662	$ 45,017

Segment Reporting (Schedule o53

Segment Reporting (Schedule of Capital Additions and Acquisitions by Reportable Segments) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Capital additions and acquisitions by segment [Line Items]
Total capital additions and acquisitions	$ 9,472	$ 101,830
Operating Segments [Member] | Data Centers [Member]
Capital additions and acquisitions by segment [Line Items]
Total capital additions and acquisitions	579	7,139
Operating Segments [Member] | Healthcare [Member]
Capital additions and acquisitions by segment [Line Items]
Total capital additions and acquisitions	$ 8,893	$ 94,691

Future Minimum Rent (Schedule o

Future Minimum Rent (Schedule of Future Minimum Rental Income from Non-Cancelable Operating Leases) (Details) $ in Thousands	Jun. 30, 2017USD ($)
Leases [Abstract]
Six months ending December 31, 2017	$ 95,122
2,018	193,897
2,019	197,303
2,020	198,317
2,021	193,566
Thereafter	1,452,795
Total	$ 2,331,000

Future Minimum Rent (Schedule55

Future Minimum Rent (Schedule of Future Minimum Rental Payments Under Non-Cancelable Ground Leases) (Details) $ in Thousands	Jun. 30, 2017USD ($)
Leases [Abstract]
Six months ending December 31, 2017	$ 350
2,018	702
2,019	746
2,020	746
2,021	753
Thereafter	37,083
Total	$ 40,380

Fair Value (Narrative) (Details

Fair Value (Narrative) (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Fair Value [Line Items]
Notes payable, principal amount outstanding	$ 470,268,000	$ 486,812,000
Unsecured credit facility, principal amount outstanding	388,000,000	358,000,000
Contingent consideration obligations, fair value	4,600,000	5,640,000
Contingent consideration obligations, maximum payout	8,450,000
Contingent consideration obligations, minimum payout	0
Fixed Rate [Member]
Fair Value [Line Items]
Notes payable, principal amount outstanding	102,516,000	114,783,000
Variable Rate Debt, Subject To Interest Rate Swap [Member]
Fair Value [Line Items]
Notes payable, principal amount outstanding	326,868,000	330,425,000
Unsecured credit facility, principal amount outstanding	210,000,000	210,000,000
Variable Rate [Member]
Fair Value [Line Items]
Notes payable, principal amount outstanding	40,884,000	41,604,000
Unsecured credit facility, principal amount outstanding	178,000,000	148,000,000
Significant Other Observable Inputs (Level 2) [Member] | Estimated Fair Value [Member] | Fixed Rate [Member]
Fair Value [Line Items]
Notes payable, fair value disclosure	104,566,000	116,402,000
Significant Other Observable Inputs (Level 2) [Member] | Estimated Fair Value [Member] | Variable Rate Debt, Subject To Interest Rate Swap [Member]
Fair Value [Line Items]
Notes payable, fair value disclosure	326,448,000	328,512,000
Unsecured credit facility, fair value disclosure	$ 206,717,000	$ 203,055,000

Fair Value (Schedule of Fair Va

Fair Value (Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Assets:
Derivative assets	$ 3,418	$ 3,070
Liabilities:
Derivative liabilities	(476)	(1,247)
Contingent consideration obligation	(4,600)	(5,640)
Recurring Basis [Member]
Assets:
Derivative assets	3,418	3,070
Total assets at fair value	3,418	3,070
Liabilities:
Derivative liabilities	(476)	(1,247)
Contingent consideration obligation	(4,600)	(5,640)
Total liabilities at fair value	(5,076)	(6,887)
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets:
Derivative assets	0	0
Total assets at fair value	0	0
Liabilities:
Derivative liabilities	0	0
Contingent consideration obligation	0	0
Total liabilities at fair value	0	0
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Assets:
Derivative assets	3,418	3,070
Total assets at fair value	3,418	3,070
Liabilities:
Derivative liabilities	(476)	(1,247)
Contingent consideration obligation	0	0
Total liabilities at fair value	(476)	(1,247)
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member]
Assets:
Derivative assets	0	0
Total assets at fair value	0	0
Liabilities:
Derivative liabilities	0	0
Contingent consideration obligation	(4,600)	(5,640)
Total liabilities at fair value	$ (4,600)	$ (5,640)

Fair Value (Schedule of Reconci

Fair Value (Schedule of Reconciliation of Fair Value of Recurring Level 3 Fair Value Measurements) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		$ 4,500	$ 5,460	$ 5,640	$ 5,340
Additions to contingent consideration obligation		0	0	0	0
Total changes in fair value included in earnings		100	125	(1,040)	245
Ending balance		4,600	5,585	4,600	5,585
Unrealized losses (gains) still held	[1]	$ 100	$ 125	$ (1,040)	$ 245
[1]	Represents the unrealized losses (gains) recorded in earnings or other comprehensive income (loss) during the period for liabilities classified as Level 3 that are still held at the end of the period.

Derivative Instruments and He59

Derivative Instruments and Hedging Activities (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gain (loss) recognized due to ineffectiveness of hedges of interest rate risk	$ 0	$ 0	$ 0
Loss on discontinuation of cash flow hedge due to forecasted transaction probable of not occurring				$ 728,000
Additional amount expected to be reclassified from AOCI into earnings during next twelve months	260,000		260,000
Fair value of derivatives in a net liability position	$ 533,000		$ 533,000

Derivative Instruments and He60

Derivative Instruments and Hedging Activities (Schedule of the Notional Amount and Fair Value of Derivative Instruments) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Fair Value of Asset	$ 3,418	$ 3,070
Fair Value of (Liability)	(476)	(1,247)
Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Outstanding Notional Amount	536,868	540,425
Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member] | Other Assets, Net [Member]
Derivatives, Fair Value [Line Items]
Fair Value of Asset	3,418	3,070
Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member] | Accounts Payable and Other Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair Value of (Liability)	$ (476)	$ (1,247)
Minimum [Member] | Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Effective Dates	Oct. 12, 2012
Maturity Dates	Oct. 11, 2017
Maximum [Member] | Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Effective Dates	May 3, 2016
Maturity Dates	Aug. 21, 2020

Derivative Instruments and He61

Derivative Instruments and Hedging Activities (Schedule of Income or Loss Recognized on Derivative Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (Loss) Income Recognized in OCI on Derivatives (Effective Portion)	$ (744)	$ (3,680)	$ 90	$ (9,320)
Amount of Loss Reclassified From Accumulated Other Comprehensive Income to Net Income (Effective Portion and Accelerated Amounts)	(360)	(1,074)	(1,029)	(2,851)
Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (Loss) Income Recognized in OCI on Derivatives (Effective Portion)	(744)	(3,680)	90	(9,320)
Interest Rate Swaps [Member] | Interest Expense, Net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss Reclassified From Accumulated Other Comprehensive Income to Net Income (Effective Portion and Accelerated Amounts)	$ (360)	$ (1,074)	$ (1,029)	$ (2,851)

Derivative Instruments and He62

Derivative Instruments and Hedging Activities (Schedule of Offsetting of Derivative Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gross Amounts of Recognized Assets	$ 3,418	$ 3,070
Gross Amounts Offset in the Balance Sheet	0	0
Net Amounts of Assets Presented in the Balance Sheet	3,418	3,070
Gross Amounts Not Offset in the Balance Sheet, Financial Instruments Collateral	(35)	(10)
Gross Amounts Not Offset in the Balance Sheet, Cash Collateral	0	0
Net Amount	$ 3,383	$ 3,060

Derivative Instruments and He63

Derivative Instruments and Hedging Activities (Schedule of Offsetting of Derivative Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gross Amounts of Recognized Liabilities	$ 476	$ 1,247
Gross Amounts Offset in the Balance Sheet	0	0
Net Amounts Of Liabilities Presented in the Balance Sheet	476	1,247
Gross Amounts Not Offset in the Balance Sheet, Financial Instruments Collateral	(35)	(10)
Gross Amounts Not Offset in the Balance Sheet, Cash Collateral	0	0
Net Amount	$ 441	$ 1,237

Accumulated Other Comprehensi64

Accumulated Other Comprehensive Income (Schedule of Amounts Recognized in Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	$ 1,370,656
Ending Balance	1,338,458
Unrealized Income (Loss) On Derivative Instruments [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	2,303	$ (2,100)
Other comprehensive income (loss) before reclassification	90	(9,320)
Amount of loss reclassified from accumulated other comprehensive income (loss) to net income (effective portion and missed forecast)	1,029	2,851
Other comprehensive income (loss) attributable to common stockholders	1,119	(6,469)
Ending Balance	3,422	(8,569)
Accumulated Other Comprehensive Income (Loss) [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	1,823	(2,580)
Other comprehensive income (loss) before reclassification	90	(9,320)
Amount of loss reclassified from accumulated other comprehensive income (loss) to net income (effective portion and missed forecast)	1,029	2,851
Other comprehensive income (loss) attributable to common stockholders	1,119	(6,469)
Ending Balance	$ 2,942	$ (9,049)

Accumulated Other Comprehensi65

Accumulated Other Comprehensive Income (Schedule of Reclassifications Out of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest expense, net	$ 8,859	$ 9,213	$ 17,524	$ 19,827
Reclassification Out Of Accumulated Other Comprehensive Income (Loss) [Member] | Unrealized Income (Loss) On Derivative Instruments [Member] | Interest Rate Swaps [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest expense, net			$ 1,029	$ 2,851

Commitments and Contingencies (

Commitments and Contingencies (Details)	Jun. 30, 2017case
Commitments and Contingencies Disclosure [Abstract]
Number of material pending legal proceedings to which the Company is a party	0

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands	Aug. 03, 2017	Aug. 01, 2017	Jul. 03, 2017	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Subsequent Event [Line Items]
Distributions paid in cash						$ 31,160	$ 29,629
Common stock issued through distribution reinvestment plan						$ 33,541	$ 34,138
Distributions declared per common share				$ 0.17	$ 0.17	$ 0.35	$ 0.35
Subsequent Event [Member] | June 1, 2017 To June 30, 2017 [Member]
Subsequent Event [Line Items]
Aggregate distributions paid			$ 10,713
Distributions paid in cash			5,196
Common stock issued through distribution reinvestment plan			$ 5,517
Subsequent Event [Member] | July 1, 2017 To July 31, 2017 [Member]
Subsequent Event [Line Items]
Aggregate distributions paid		$ 11,071
Distributions paid in cash		5,374
Common stock issued through distribution reinvestment plan		$ 5,697
Subsequent Event [Member] | September 1, 2017 To November 30, 2017 [Member]
Subsequent Event [Line Items]
Number of days, distribution calculation	365 days
Distributions declared per common share	$ 0.001917808