Cim Income Nav 10-K 31 Mar 21 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Mar. 22, 2021	Jun. 30, 2020
Entity Information
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	000-55187
Entity Registrant Name	CIM INCOME NAV, INC.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	27-3147801
Entity Address, Address Line One	2398 East Camelback Road, 4th Floor
Entity Address, City or Town	Phoenix,
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85016
City Area Code	(602)
Local Phone Number	778-8700
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 514.8
Entity Central Index Key	0001498542
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Documents Incorporated by Reference	Documents Incorporated by Reference: The Registrant incorporates by reference portions of the CIM Income NAV, Inc. definitive proxy statement to be filed with the SEC with respect to the Registrant’s 2021 Annual Meeting of Stockholders (into Items 10, 11, 12, 13 and 14 of Part III).
D Shares Common Stock
Entity Information
Entity Common Stock, Shares Outstanding		15,200,000
T Shares Common Stock
Entity Information
Entity Common Stock, Shares Outstanding		13,700,000
S Shares Common Stock
Entity Information
Entity Common Stock, Shares Outstanding		7,500
I Shares Common Stock
Entity Information
Entity Common Stock, Shares Outstanding		1,100,000

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Real estate assets:
Land	$ 139,644	$ 145,373
Buildings and improvements	632,190	656,208
Intangible lease assets	106,739	112,718
Total real estate assets, at cost	878,573	914,299
Less: accumulated depreciation and amortization	(101,991)	(80,938)
Total real estate assets, net	776,582	833,361
Investment in CIM UII Onshore, net	46,680	0
Investment in marketable securities	15,496	15,002
Total real estate assets, equity investments and marketable securities, net	838,758	848,363
Cash and cash equivalents	8,805	5,111
Restricted cash	415	607
Rents and tenant receivables, net	15,952	13,599
Prepaid expenses and other assets	984	777
Deferred costs, net	289	672
Due from affiliates	7	8
Assets held for sale	1,009	0
Total assets	866,219	869,137
LIABILITIES AND EQUITY
Credit facility and notes payable, net	449,378	348,939
Accrued expenses and accounts payable	4,518	3,444
Escrowed stockholder proceeds	0	50
Due to affiliates	13,826	16,567
Intangible lease liabilities, net	12,040	13,618
Distributions and redemptions payable	6,969	2,814
Derivative liabilities, deferred rental income and other liabilities	11,174	7,676
Total liabilities	497,905	393,108
Commitments and contingencies
Redeemable common stock	10,040	59,263
STOCKHOLDERS’ EQUITY:
Preferred stock, $0.01 par value; 10,000,000 shares authorized, none issued and outstanding	0	0
Capital in excess of par value	493,417	507,913
Accumulated distributions in excess of earnings	(128,383)	(87,513)
Accumulated other comprehensive loss	(7,768)	(4,710)
Total stockholders’ equity	357,567	416,027
Non-controlling interests	707	739
Total equity	358,274	416,766
Total liabilities, redeemable common stock, and equity	866,219	869,137
D Shares Common Stock
STOCKHOLDERS’ EQUITY:
Common stock, value	153	181
T Shares Common Stock
STOCKHOLDERS’ EQUITY:
Common stock, value	138	145
S Shares Common Stock
STOCKHOLDERS’ EQUITY:
Common stock, value	0	0
I Shares Common Stock
STOCKHOLDERS’ EQUITY:
Common stock, value	$ 10	$ 11

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01
Common stock, shares authorized (in shares)	490,000,000
Common stock, shares issued (in shares)	48,800,000
D Shares Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	122,500,000	122,500,000
Common stock, shares issued (in shares)	15,318,506	18,143,147
Common stock, shares outstanding (in shares)	15,318,506	18,143,147
T Shares Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	122,500,000	122,500,000
Common stock, shares issued (in shares)	13,778,134	14,499,636
Common stock, shares outstanding (in shares)	13,778,134	14,499,636
S Shares Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	122,500,000	122,500,000
Common stock, shares issued (in shares)	7,399	7,031
Common stock, shares outstanding (in shares)	7,399	7,031
I Shares Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	122,500,000	122,500,000
Common stock, shares issued (in shares)	1,011,342	1,097,896
Common stock, shares outstanding (in shares)	1,011,342	1,097,896

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Rental and other property income	$ 72,596	$ 77,606	$ 70,778
Interest income on marketable securities	345	206	134
Total revenues	72,941	77,812	70,912
Operating expenses:
General and administrative	5,512	7,021	7,096
Property operating	4,971	5,231	2,798
Real estate tax	5,703	5,238	5,076
Advisory fees and expenses	6,382	7,902	5,858
Transaction-related	726	1,233	1,774
Depreciation and amortization	27,647	29,182	27,361
Real estate impairment	13,851	3,090	2,267
Total operating expenses	64,792	58,897	52,230
Gain on disposition of real estate, net	627	10,213	1,019
Operating income	8,776	29,128	19,701
Other expense:
Loss on investment in CIM UII Onshore	(2,660)	0	0
Interest expense and other, net	(17,127)	(14,337)	(14,506)
Net (loss) income	(11,011)	14,791	5,195
Net income allocated to noncontrolling interest	32	41	37
Net (loss) income attributable to the Company	(11,043)	14,750	5,158
D Shares Common Stock
Other expense:
Net (loss) income attributable to the Company	$ (5,586)	$ 8,304	$ 3,165
Basic and diluted weighted average number of common shares outstanding (in shares)	16,308,451	18,763,418	17,606,217
Basic and diluted net (loss) income per common share (in dollars per share)	$ (0.34)	$ 0.44	$ 0.18
T Shares Common Stock
Other expense:
Net (loss) income attributable to the Company	$ (5,142)	$ 5,933	$ 1,794
Basic and diluted weighted average number of common shares outstanding (in shares)	14,155,490	13,983,267	10,769,145
Basic and diluted net (loss) income per common share (in dollars per share)	$ (0.36)	$ 0.42	$ 0.17
S Shares Common Stock
Other expense:
Net (loss) income attributable to the Company	$ (3)	$ 1	$ 0
Basic and diluted weighted average number of common shares outstanding (in shares)	7,225	1,444	0
Basic and diluted net (loss) income per common share (in dollars per share)	$ (0.47)	$ 0.84	$ 0
I Shares Common Stock
Other expense:
Net (loss) income attributable to the Company	$ (312)	$ 512	$ 199
Basic and diluted weighted average number of common shares outstanding (in shares)	986,387	1,122,442	1,040,969
Basic and diluted net (loss) income per common share (in dollars per share)	$ (0.32)	$ 0.46	$ 0.19

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (11,011)	$ 14,791	$ 5,195
Other comprehensive loss:
Unrealized holding gain (loss) on marketable securities	537	252	(88)
Reclassification adjustment for realized loss included in income as other expense	31	13	3
Unrealized loss on interest rate swaps	(8,287)	(5,373)	(750)
Amount of loss (gain) reclassified from other comprehensive (loss) income into income as interest expense and other, net	4,661	(167)	(294)
Total other comprehensive loss	(3,058)	(5,275)	(1,129)
Comprehensive (loss) income	(14,069)	9,516	4,066
Comprehensive income allocated to noncontrolling interest	32	41	37
Comprehensive (loss) income attributable to the Company	$ (14,101)	$ 9,475	$ 4,029

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Cumulative effect of accounting changes	Common Stock	Capital in Excess of Par Value	Accumulated Distributions in Excess of Earnings	Accumulated Distributions in Excess of EarningsCumulative effect of accounting changes	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss)Cumulative effect of accounting changes	Total Stockholders’ Equity	Non- Controlling Interests
Balance, shares (in shares) at Dec. 31, 2017			25,695,557
Balance at Dec. 31, 2017	$ 335,446	$ 0	$ 257	$ 378,266	$ (45,506)	$ (37)	$ 1,657	$ 37	$ 334,674	$ 772
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)			9,831,064
Issuance of common stock	181,382		$ 98	181,284					181,382
Conversion of shares (in shares)			(108)
Conversion of Shares	0
Distributions declared on common stock	(28,766)				(28,766)				(28,766)
Commissions, dealer manager and ongoing stockholder servicing fees	(561)			(561)					(561)
Other offering costs	(1,339)			(1,339)					(1,339)
Redemptions of common stock (in shares)			(2,654,144)
Redemptions of common stock	(48,250)		$ (26)	(48,224)					(48,250)
Equity-based compensation (in shares)			7,212
Equity-based compensation	33		$ 0	33					33
Changes in redeemable common stock	(11,878)			(11,878)					(11,878)
Distributions to non-controlling interests	(43)									(43)
Comprehensive income (loss)	4,066				5,158		(1,129)		4,029	37
Balance, shares (in shares) at Dec. 31, 2018			32,879,581
Balance at Dec. 31, 2018	430,090		$ 329	497,581	(69,151)		565		429,324	766
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)			6,258,770
Issuance of common stock	112,143		$ 63	112,080					112,143
Conversion of Shares	0
Distributions declared on common stock	(33,112)				(33,112)				(33,112)
Commissions, dealer manager and ongoing stockholder servicing fees	(5,355)			(5,355)					(5,355)
Other offering costs	(830)			(830)					(830)
Redemptions of common stock (in shares)			(5,398,065)
Redemptions of common stock	(95,388)		$ (55)	(95,333)					(95,388)
Equity-based compensation (in shares)			7,424
Equity-based compensation	131		$ 0	131					131
Changes in redeemable common stock	(361)			(361)					(361)
Distributions to non-controlling interests	(68)									(68)
Comprehensive income (loss)	9,516				14,750		(5,275)		9,475	41
Balance, shares (in shares) at Dec. 31, 2019			33,747,710
Balance at Dec. 31, 2019	$ 416,766		$ 337	507,913	(87,513)		(4,710)		416,027	739
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)	2,000,000		1,951,610
Issuance of common stock	$ 34,084		$ 19	34,065					34,084
Conversion of shares (in shares)			(400)
Conversion of Shares	0
Distributions declared on common stock	(29,827)				(29,827)				(29,827)
Commissions, dealer manager and ongoing stockholder servicing fees	(1,009)			(1,009)					(1,009)
Other offering costs	$ (253)			(253)					(253)
Redemptions of common stock (in shares)	(16,800,000)		(5,635,111)
Redemptions of common stock	$ (97,457)		$ (55)	(97,402)					(97,457)
Equity-based compensation (in shares)			10,691
Equity-based compensation	180		$ 0	180					180
Equity-based payments to advisor (in shares)			40,881
Equity-based payments to advisor	700		$ 0	700					700
Changes in redeemable common stock	49,223			49,223					49,223
Distributions to non-controlling interests	(64)									(64)
Comprehensive income (loss)	(14,069)				(11,043)		(3,058)		(14,101)	32
Balance, shares (in shares) at Dec. 31, 2020			30,115,381
Balance at Dec. 31, 2020	$ 358,274		$ 301	$ 493,417	$ (128,383)		$ (7,768)		$ 357,567	$ 707

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	Jul. 23, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Distributions declared on common stock (in dollars per share)		$ 0.95		$ 0.98
D Shares Common Stock
Distributions declared on common stock (in dollars per share)	$ 0.0839		$ 0.98
T Shares Common Stock
Distributions declared on common stock (in dollars per share)	0.0839		0.98
I Shares Common Stock
Distributions declared on common stock (in dollars per share)	0.0839		0.98
S Shares Common Stock
Distributions declared on common stock (in dollars per share)	$ 0.0839		$ 0.22

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net (loss) income	$ (11,011)	$ 14,791	$ 5,195
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization, net	27,402	28,801	26,855
Straight-line rental income	(2,736)	(3,615)	(3,070)
Write-off of uncollectible lease-related receivables	1,406	2	0
Amortization of deferred financing costs	1,073	1,084	1,086
Amortization on marketable securities	70	17	9
Equity-based compensation	180	131	33
Equity-based payments to Advisor	700	0	0
Loss on sale of marketable securities	31	13	3
Loss on investment in CIM UII Onshore	2,660	0	0
Gain on disposition of real estate assets, net	(627)	(10,213)	(1,019)
Impairment of real estate assets	13,851	3,090	2,267
Write-off of deferred financing costs	0	0	130
Changes in assets and liabilities:
Rents and tenant receivables	(890)	(860)	312
Prepaid expenses and other assets	(445)	(693)	(35)
Accrued expenses and accounts payable	1,073	(359)	592
Deferred rental income and other liabilities	(94)	(31)	877
Due from affiliates	1	104	(12)
Due to affiliates	(671)	284	(387)
Net cash provided by operating activities	31,973	32,546	32,836
Cash flows from investing activities:
Investment in real estate assets and capital expenditures	(2,476)	(82,746)	(254,949)
Investment in marketable securities	(3,946)	(10,112)	(1,269)
Proceeds from sale and maturities of marketable securities	3,919	811	1,202
Investment in CIM UII Onshore	(50,000)	0	0
Distributions of capital from investment in CIM UII Onshore	660	0	0
Net proceeds from disposition of real estate assets	15,909	88,080	47,660
Payment of property escrow deposits	0	(1,700)	(5,240)
Refund of property escrow deposits	0	1,700	5,740
Proceeds from the settlement of insurance claims	204	498	0
Net cash used in investing activities	(35,730)	(3,469)	(206,856)
Cash flows from financing activities:
Proceeds from issuance of common stock	20,976	95,942	167,608
Offering costs on issuance of common stock	(3,332)	(5,487)	(7,908)
Redemptions of common stock	(95,375)	(95,388)	(48,250)
Distributions to stockholders	(14,646)	(16,816)	(14,399)
Proceeds from credit facility and notes payable	127,000	63,000	206,000
Repayments of credit facility and notes payable	(27,240)	(69,000)	(127,275)
Deferred financing costs paid	(10)	(42)	(187)
Distributions to noncontrolling interests	(64)	(68)	(43)
Change in escrowed stockholder proceeds liability	(50)	50	0
Net cash provided by (used in) financing activities	7,259	(27,809)	175,546
Net increase in cash and cash equivalents and restricted cash	3,502	1,268	1,526
Cash and cash equivalents and restricted cash, beginning of period	5,718	4,450	2,924
Cash and cash equivalents and restricted cash, end of period	9,220	5,718	4,450
Reconciliation of cash and cash equivalents and restricted cash to the consolidated balance sheets:
Total cash and cash equivalents and restricted cash	$ 5,718	$ 4,450	$ 4,450

ORGANIZATION AND BUSINESS

ORGANIZATION AND BUSINESS	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BUSINESS	ORGANIZATION AND BUSINESS CIM Income NAV, Inc. (the “Company”) is a monthly priced perpetual life non-exchange traded real estate investment trust (“REIT”) formed as a Maryland corporation on July 27, 2010 that qualified as a REIT for U.S. federal income tax purposes beginning with its taxable year ended December 31, 2012. Substantially all of the Company’s business is conducted through CIM Income NAV Operating Partnership, LP, a Delaware limited partnership (“CIM Income NAV OP”), of which the Company is the sole general partner, and owns, directly or indirectly, 100% of the partnership interests. The Company is externally managed by CIM Income NAV Management, LLC, a Delaware limited liability company (“CIM Income NAV Management”), which is an affiliate of CIM Group, LLC (“CIM”). CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Headquartered in Los Angeles, California, CIM has offices across the United States and in Tokyo, Japan. CCO Group, LLC owns and controls CIM Income NAV Management, the Company’s advisor, and is the indirect owner of CCO Capital, LLC (“CCO Capital”), the Company’s dealer manager, and CREI Advisors, LLC (“CREI Advisors”), the Company’s property manager. CCO Group, LLC and its subsidiaries (collectively, “CCO Group”) serve as the Company’s sponsor and as a sponsor to CIM Real Estate Finance Trust, Inc. (“CMFT”). On December 6, 2011, the Company commenced its initial public offering (the “Initial Offering”) on a “best efforts” basis of $4.0 billion in shares of common stock, consisting of $3.5 billion in shares in the primary offering (the “Primary Offering”) and $500.0 million in shares pursuant to a distribution reinvestment plan (the “DRIP”). On August 26, 2013, the Company commenced its first follow-on offering (the “First Follow-on Offering”), pursuant to which the Company offered up to $4.0 billion in shares of common stock, consisting of $3.5 billion in shares in the Primary Offering and $500.0 million in shares pursuant to the DRIP. As part of the First Follow-on Offering, the Company designated the existing shares of the Company’s common stock that were sold prior to such date to be Wrap Class shares (“W Shares”) of common stock and registered two new classes of the Company’s common stock, Advisor Class shares (“A Shares”) and Institutional Class shares (“I Shares”). On February 10, 2017, the Company commenced its second follow-on offering (the “Second Follow-on Offering”), pursuant to which the Company offered up to $4.0 billion in shares of common stock, consisting of $3.5 billion in shares in the Primary Offering and $500.0 million in shares pursuant to the DRIP. On August 7, 2020, the Company commenced its third follow-on offering, pursuant to which the Company is offering up to $4.0 billion in shares of common stock (the “Third Follow-on Offering” and collectively with the Initial Offering, the First Follow-on Offering and the Second Follow-on offering, the “Offering”), consisting of $3.5 billion in shares in the Primary Offering and $500.0 million in shares pursuant to the DRIP. On November 27, 2018, the Company amended its charter to, among other things, change the name and designation of its W Shares to Class D Common Stock (the “D Shares”), and its A Shares to Class T Common Stock (the “T Shares”), respectively, and reclassified a portion of its common stock as Class S Common Stock (the “S Shares”), to be offered alongside its D Shares, T Shares and I Shares in its continuous public offering (the “Share Modifications”). The Company is offering to sell any combination of D Shares, T Shares, S Shares and I Shares with a dollar value up to the maximum offering amount. In connection with the Share Modifications, when the Company refers to its share classes in this Annual Report on Form 10-K with respect to dates prior to November 27, 2018 (the “Restructure Date”), the Company is referring to its shares under its prior share structure, and when the Company refers to its share classes in this Annual Report on Form 10-K with respect to dates on or after November 27, 2018, the Company is referring to its shares under its new share structure. See Note 12 — Related-Party Transactions and Agreements to the Company’s consolidated financial statements for detailed information regarding the advisory and dealer manager amendments related to its Share Modifications. As of December 31, 2020, the Company had issued approximately 48.8 million shares of common stock in the Offering, including 3.7 million in shares issued in the DRIP, for gross offering proceeds of $878.2 million b efore $26.2 million in upfront selling commissions, dealer manager fees and the current portion of stockholder servicing fees and $6.5 million in o rganization and offering costs. Effective April 1, 2020, the Company modified its Offering and certain other features of the Company from a daily to a monthly NAV REIT. As part of the change from a daily to a monthly NAV REIT, the Board approved, among other things: (1) a change in the frequency of the NAV calculations from daily to monthly and certain other related changes to the Company’s valuation policies; and (2) adopted an amended share redemption program that provides for redemptions on a monthly basis. The per share purchase price for each class of common stock varies from month-to-month and, each month, is generally equal to, for each class of common stock, the Company’s net asset value (“NAV”) for such class, divided by the number of shares of that class outstanding, as of the prior month, plus, for T Shares and S Shares sold in the Primary Offering, applicable upfront selling commissions and dealer manager fees. The Company’s NAV per share is calculated monthly as of the last calendar day of each month by an independent fund accountant using a process that incorporates (1) the periodic valuations of each of the Company’s real estate assets and related liabilities by the Company’s independent valuation expert, (2) ongoing assessment by the valuation expert of the estimated impact of any events that require adjustment to the most recent valuations determined by the valuation expert, (3) updates in the price of liquid assets for which third-party market quotes are available, a net basis, of operating r evenues, expenses, debt service costs and fees . As of December 31, 2020, the NAV per share for D Shares, T Shares, S Shares and I Shares was $16.75, $16.32, $16.30 and $17.04, respectively. The Company’s NAV is not audited or reviewed by its independent registered public accounting firm. The Company has used substantially all of th e net proceeds from the Offering to acquire and operate a diversified portfolio primarily consisting of retail, office and in dustrial properties that are leased to creditworthy tenants under long-term net leases, and are strategically located throughout the United States. As of December 31, 2020, the Company owned 123 commercial properties, including two properties owned through a consolidated joint venture arrangement (the “Consolidated Joint Venture”), comprised of 5.3 million rentable square feet of commercial space located in 34 states, and which was 98.1% leased, including month-to-month agreements, if any. As of December 31, 2020, the Company also owned limited partnership interests with CIM UII Onshore, L.P. (“CIM UII Onshore”), the sole purpose of which is to invest all of its assets in CIM Urban Income Investments, L.P. (“CIM Urban Income”), which is a private institutional fund that acquires, owns and operates substantially stabilized, diversified real estate and real estate-related assets in urban markets primarily located throughout North America. As a perpetual-life, non-exchange traded REIT, the Co mpany will be selling shares of common stock on a continuous basis and for an indefinite period of time, subject to ongoing regulatory approval of the Company’s filings for additional offerings. The Company will endeavor to take all reasonable actions to avoid interruptions in the continuous offering of shares of common stock. The Company reserves the right to terminate the Offering at any time.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2020
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 consolidated financial statements. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) in all material respects, and have been consistently applied in preparing the accompanying consolidated financial statements. Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries and the Consolidated Joint Venture in which the Company has a controlling financial interest. All intercompany balances and transactions have been eliminated in consolidation. The Company evaluates its relationships and investments to determine if it has variable interests. A variable interest is an investment or other interest that will absorb portions of an entity’s expected losses or receive portions of the entity’s expected residual returns. If the Company determines that it has a variable interest in an entity, it evaluates whether such interest is in a variable interest entity (“VIE”). VIEs are entities where investors lack sufficient equity at risk for the entity to finance its activities without additional subordinated financial support or where equity investors, as a group, lack one of the following characteristics: (a) the power to direct the activities that most significantly impact the entity’s economic performance, (b) the obligation to absorb the expected losses of the entity, or (c) the right to receive the expected returns of the entity. The Company consolidates any VIEs when it is determined to be the primary beneficiary of the VIE’s operations. For legal entities being evaluated for consolidation, the Company must first determine whether the interests that it holds and fees it receives qualify as variable interests in the entity. A variable interest is an investment or other interest that will absorb portions of an entity’s expected losses or receive portions of the entity’s expected residual returns. The Company’s evaluation includes consideration of fees paid to the Company where the Company acts as a decision maker or service provider to the entity being evaluated. If the Company determines that it holds a variable interest in an entity, it evaluates whether that entity is a VIE. A VIE must be consolidated by its primary beneficiary, which is generally defined as the party who has a controlling financial interest in the VIE. The Company qualitatively assesses whether it is (or is not) the primary beneficiary of a VIE. Consideration of various factors include, but are not limited to, the Company’s ability to direct the activities that most significantly impact the entity’s economic performance and its obligation to absorb losses from or right to receive benefits of the VIE that could potentially be significant to the VIE. The Company consolidates any VIEs when the Company is determined to be the primary beneficiary of the VIE, and the difference between consolidating the VIE and accounting for it using the equity method could be material to the Company’s consolidated financial statements. The Company continually evaluates the need to consolidate any VIEs based on standards set forth in GAAP as described above. As of December 31, 2020 and 2019, the Company determined that it had a controlling interest in the Consolidated Joint Venture and therefore met the requirements for consolidation. Reclassifications The Company is separately presenting the write-off of uncollectable lease-related receivables of $2,000 for the year ended December 31, 2019, which was previously included in straight-line rental income, net in the consolidated statements of cash flows. This reclassification had no effect on previously reported totals or subtotals. Use of Estimates The preparation of financial statements in conformity with GAAP 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Real Estate Assets Real estate assets are stated at cost, less accumulated depreciation and amortization. The Company considers the period of future benefit of each respective asset to determine the appropriate useful life. The estimated useful lives of the Company’s real estate assets by class are generally as follows: Buildings 40 years Site improvements 15 years Tenant improvements Lesser of useful life or lease term Intangible lease assets Lease term Recoverability of Real Estate Assets The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate assets may not be recoverable. Impairment indicators that the Company considers include, but are not limited to: bankruptcy or other credit concerns of a property’s major tenant, such as a history of late payments, lease concessions and other factors; a significant decrease in a property’s revenues due to lease terminations; vacancies; co-tenancy clauses; reduced lease rates; changes in anticipated holding periods; or other circumstances. When indicators of potential impairment are present, the Company assesses the recoverability of the assets by determining whether the carrying amount of the assets will be recovered through the undiscounted future cash flows expected from the use of the assets and their eventual disposition. In the event that such expected undiscounted future cash flows do not exceed the carrying amount, the Company will adjust the real estate assets to their respective fair values and recognize an impairment loss. Generally, fair value is determined using a discounted cash flow analysis and recent comparable sales transactions. During the year ended December 31, 2020, the Company recorded impairment charges of $13.9 million, related to one anchored shopping center and one retail property due to the carrying value being greater than the estimated fair value of the property, net of selling costs, and one anchored shopping center and three retail properties, due to tenant bankruptcy. The Company’s impairment assessment as of December 31, 2020 was based on the most current information available to the Company, including expected holding periods. If the Company’s expected holding periods for assets change, subsequent tests for impairment could result in additional impairment charges in the future. The Company cannot provide any assurance that additional material impairment charges with respect to the Company’s real estate assets will not occur during 2021 or in future periods . During the year ended December 31, 2019, the Company recorded impairment charges of $3.1 million, related to one anchored shopping center and five retail properties, due to the carrying value being greater than the estimated fair value of the property. During the year ended December 31, 2018, the Company recorded impairment charges of $2.3 million, related to one anchored shopping center, due to the carrying value being greater than the estimated fair value of the property. Assets Held for Sale When a real estate asset is identified by the Company as held for sale, the Company will cease recording depreciation and amortization of the assets related to the property and estimate its fair value, net of selling costs. If, in management’s opinion, the fair value, net of selling costs, of the asset is less than the carrying amount of the asset, an adjustment to the carrying amount is then recorded to reflect the estimated fair value of the property, net of selling costs. As of December 31, 2020, the Company identified one property with a fair value of $1.0 million as held for sale. There were no assets identified as held for sale as of December 31, 2019. Disposition of Real Estate Assets Gains and losses from dispositions are recognized once the various criteria relating to the terms of sale and any subsequent involvement by the Company with the asset sold are met. A discontinued operation includes only the disposal of a component of an entity and represents a strategic shift that has (or will have) a major effect on an entity’s financial results. The Company’s property dispositions during the years ended December 31, 2020 and 2019 did not qualify for discontinued operations presentation, and thus, the results of the properties that have been sold remain in operating income, and any associated gains or losses from the disposition are included in gain on disposition of real estate, net. Allocation of Purchase Price of Real Estate Assets Upon the acquisition of real properties, the Company allocates the purchase price to acquired tangible assets, consisting of land, buildings and improvements, and to identified intangible assets and liabilities, consisting of the value of above- and below-market leases and the value of in-place leases and other intangibles, based in each case on their respective fair values. The Company utilizes independent appraisals to assist in the determination of the fair values of the tangible assets of an acquired property (which includes land and buildings). The information in the appraisal, along with any additional information available to the Company’s management, is used in estimating the amount of the purchase price that is allocated to land. Other information in the appraisal, such as building value and market rents, may be used by the Company’s management in estimating the allocation of purchase price to the building and to intangible lease assets and liabilities. The appraisal firm has no involvement in management’s allocation decisions other than providing this market information. The fair values of above- and below-market lease intangibles are recorded based on the present value (using a discount rate which reflects the risks associated with the leases acquired) of the difference between (1) the contractual amounts to be paid pursuant to the in-place leases and (2) an estimate of fair market lease rates for the corresponding in-place leases, which is generally obtained from independent appraisals, measured over a period equal to the remaining non-cancelable term of the lease including, for below-market leases, any bargain renewal periods. The above- and below-market lease intangibles are capitalized as intangible lease assets or liabilities, respectively. Above-market leases are amortized as a reduction to rental income over the remaining terms of the respective leases. Below-market leases are amortized as an increase to rental income over the remaining terms of the respective leases, including any bargain renewal periods. In considering whether or not the Company expects a tenant to execute a bargain renewal option, the Company evaluates economic factors and certain qualitative factors at the time of acquisition, such as the financial strength of the tenant, the remaining lease term, the tenant mix of the leased property, the Company’s relationship with the tenant and the availability of competing tenant space. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of above- or below-market lease intangibles relating to that lease would be recorded as an adjustment to rental income. The fair values of in-place leases include estimates of direct costs associated with obtaining a new tenant and opportunity costs associated with lost rental and other property income which are avoided by acquiring a property with an in-place lease. Direct costs associated with obtaining a new tenant include leasing commissions, legal and other related expenses and are estimated in part by utilizing information obtained from independent appraisals and management’s consideration of current market costs to execute a similar lease. The intangible values of opportunity costs, which are calculated using the contractual amounts to be paid pursuant to the in-place leases over a market absorption period for a similar lease, are capitalized as intangible lease assets and are amortized to expense over the remaining term of the respective leases. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of in-place lease assets relating to that lease would be expensed. The Company may acquire certain properties subject to contingent consideration arrangements that may obligate the Company to pay additional consideration to the seller based on the outcome of future events. Additionally, the Company may acquire certain properties for which it funds certain contingent consideration amounts into an escrow account pending the outcome of certain future events. The outcome may result in the release of all or a portion of the escrow funds to the Company or the seller or a combination thereof. The determination of the amount of contingent consideration arrangements is based on the probability of several possible outcomes as identified by management. The Company estimates the fair value of assumed mortgage notes payable based upon indications of current market pricing for similar types of debt financing with similar maturities. Assumed mortgage notes payable will initially be recorded at their estimated fair value as of the assumption date, and any difference between such estimated fair value and the mortgage note’s outstanding principal balance will be amortized or accreted to interest expense over the term of the respective mortgage note payable. The determination of the fair values of the real estate assets and liabilities acquired requires the use of significant assumptions with regard to the current market rental rates, rental growth rates, capitalization and discount rates, interest rates and other variables. The use of alternative estimates may result in a different allocation of the Company’s purchase price, which could materially impact the Company’s results of operations. During the years ended December 31, 2020, 2019 and 2018, all real estate acquisitions qualified as asset acquisitions and, as such, acquisition-related fees and certain acquisition-related expenses related to these asset acquisitions are capitalized and allocated to tangible and intangible assets and liabilities, as described above. Investment in Marketable Securities Investment in marketable securities consists primarily of the Company ’ s investment in corporate and government debt securities. The Company determines the appropriate classification for debt securities at the time of purchase and reevaluates such designation as of each balance sheet date. As of December 31, 2020, the Company classified its investments as available-for-sale as the Company is not actively trading the securities; however, the Company may sell them prior to their maturity. These investments are carried at their estimated fair value with unrealized gains and losses reported in other comprehensive (loss) income . The Company adopted Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments - Credit Losses (Topic 326) (“ASU 2016-13”), as further described in “Recent Accounting Pronouncements,” on January 1, 2020. The Company monitors its available-for-sale securities for impairments. A loss is recognized when the Company determines that a decline in the estimated fair value of a security below its amortized cost has resulted from a credit loss or other factors. The Company records impairments related to credit losses through an allowance for credit losses. However, the allowance is limited by the amount that the fair value is less than the amortized cost basis. The Company considers many factors in determining whether a credit loss exists, including, but not limited to, the extent to which the fair value is less than the amortized cost basis, recent events specific to the security, industry or geographic area, the payment structure of the security, the failure of the issuer of the security to make scheduled interest or principal payments, and external credit ratings and recent changes in such ratings. The analysis of determining whether a credit loss exists requires significant judgments and assumptions. The use of alternative judgments and assumptions could result in a different conclusion. The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity computed under the effective interest method and is recorded in the accompanying consolidated statements of operations in interest and other expense, net. Upon the sale of a security, the realized net gain or loss is computed on the specific identification method. Investment in CIM UII Onshore As of December 31, 2020, the Company had invested capital of $49.3 million in CIM UII Onshore with a carrying value of $46.7 million, which represents less than 5% ownership of CIM UII Onshore. The Company accounts for its investment under the equity method. The equity method of accounting requires the investment to be initially recorded at cost, including transaction costs incurred to finalize the investment, and subsequently adjusted for the Company’s share of equity in CIM UII Onshore’s earnings and distributions. The Company records its share of CIM UII Onshore’s profits or losses on a quarterly basis as an adjustment to the carrying value of the investment on the Company’s consolidated balance sheet and is recognized as a profit or loss on the consolidated statements of operations. The Company recorded its share of loss of $2.7 million during the year ended December 31, 2020, in the consolidated statements of operations During the year ended December 31, 2020, the Company received $660,000 in dividends, which reduced the invested capital and the carrying amount of the Company’s investment as the dividends are not recognized as dividend income. Noncontrolling Interest in Consolidated Joint Venture The Company has a controlling interest in a Consolidated Joint Venture and, therefore, meets the requirements for consolidation. The Company recorded net income of $32,000 and paid distributions of $64,000 to the noncontrolling interest during the year ended December 31, 2020. The Company recorded the noncontrolling interest of $707,000 and $739,000 as of December 31, 2020 and 2019, respectively, on the consolidated balance sheets. Cash and Cash Equivalents and Restricted Cash Cash and cash equivalents include cash in bank accounts, as well as investments in highly-liquid money market funds. The Company deposits cash with several high quality financial institutions. These deposits are guaranteed by the Federal Deposit Insurance Company (“FDIC”) up to an insurance limit of $250,000. At times, the Company’s cash and cash equivalents may exceed federally insured levels. Although the Company bears risk on amounts in excess of those insured by the FDIC, it has not experienced and does not anticipate any losses due to the high quality of the institutions where the deposits are held. The Company had $415,000 and $607,000 in restricted cash as of December 31, 2020 and 2019, respectively. Included in restricted cash was $134,000 and $136,000 held by lenders in lockbox accounts as of December 31, 2020 and 2019, respectively. As part of certain debt agreements, rent from certain of the Company’s tenants is deposited directly into a lockbox account, from which funds in excess of the required minimum balance are disbursed on a weekly basis to the Company. Restricted cash as of December 31, 2020 and 2019 also included $281,000 and $421,000, respectively, held in escrow for tenant improvements at a certain property in accordance with the associated lease agreement. In addition, restricted cash included $50,000 of escrowed investor proceeds for which shares of common stock had not been issued as of December 31, 2019. There were no such proceeds as of December 31, 2020. Deferred Financing Costs Deferred financing costs represent commitment fees, legal fees and other costs associated with obtaining commitments for financing. These costs are amortized to interest expense over the terms of the respective financing agreements using the straight-line method, which approximates the effective interest method. Unamortized deferred financing costs are written off when the associated debt is extinguished or repaid prior to maturity. The presentation of all deferred financing costs, other than those associated with the revolving loan portion of the credit facility, are classified such that the debt issuance costs related to a recognized debt liability are presented on the consolidated balance sheets as a direct deduction from the carrying amount of the related debt liability rather than as an asset. Debt issuance costs related to securing a revolving line of credit are presented as an asset and amortized ratably over the term of the line of credit arrangement. As such, the Company’s current and corresponding prior period total deferred financing costs, net in the accompanying consolidated balance sheets relate only to the revolving loan portion of the credit facility and the historical presentation, amortization and treatment of unamortized costs are still applicable. As of December 31, 2020 and 2019, the Company had $289,000 and $672,000 , respectively, of deferred financing costs, net of accumulated amortization, related to the revolving loan portion of the credit facility. Costs incurred in seeking financing transactions that do not close are expensed in the period in which it is determined the financing will not close. Derivative Instruments and Hedging Activities The Company accounts for its derivative instruments at fair value. Accounting for changes in the fair value of a derivative instrument depends on the intended use of the derivative instrument and the designation of the derivative instrument. The change in fair value of the derivative instrument that is designated as a cash flow hedge is recorded as other comprehensive loss. The changes in fair value for derivative instruments that are not designated as hedges or that do not meet the hedge accounting criteria are recorded as a gain or loss to operations. Due to Affiliates CIM Income NAV Management and certain of its affiliates received, and will continue to receive, fees, reimbursements and compensation in connection with services provided relating to the Offering and the acquisition, management and performance of the Company’s assets. As of December 31, 2020 and 2019, $13.8 million and $16.6 million, respectively, was due to CIM Income NAV Management and its affiliates for such services, as discussed in Note 12 — Related-Party Transactions and Arrangements to these consolidated financial statements. Redeemable Common Stock The Company has adopted a share redemption program that permits its stockholders to redeem their shares, subject to certain limitations discussed in Note 14 — Stockholders’ Equity to these consolidated financial statements. The Company records the maximum amount that is redeemable under the share redemption program as redeemable common stock outside of permanent equity on its consolidated balance sheets. Redeemable common stock is recorded at the greater of the carrying amount or redemption value each reporting period. Changes in the value from period to period are recorded as an adjustment to capital in excess of par value. As of July 2020, the Company’s board of directors (the “Board”) determined that monthly redemptions temporarily would be limited to shares whose aggregate value is no more than 0.8% of our aggregate NAV as of the last calendar day of the previous calendar month, and in any calendar quarter, redemptions will be limited to shares whose aggregate value is no more than 2.0% of our aggregate NAV as of the last calendar day of the previous calendar quarter. While no assurances can be made regarding the timing of a return to the redemption plan limits stated in our existing share redemption plan, if at all, the Company is targeting to return to the limits under its amended and restated share redemption program (the “Amended Share Redemption Program”) to occur in the third quarter of 2021. As of December 31, 2020 and 2019, the redeemable common stock recorded on the consolidated balance sheets was $10.0 million and $59.3 million, respectively. Stockholder Servicing Fees The Company pays CCO Capital stockholder servicing fees, which are calculated on a daily basis in the amount of 1/365th of 0.25%, 0.85% and 0.85% of the NAV per share, respectively, for each class of common stock outstanding for D Shares, T Shares and S Shares, respectively. The Company does not pay a stockholder servicing fee with respect to I Shares. The stockholder servicing fees are paid monthly in arrears. An estimated liability for future stockholder servicing fees payable to CCO Capital is recognized at the time each share is sold and included in due to affiliates in the consolidated balance sheets with a corresponding decrease to capital in excess of par value. The Company recognized a liability for future fees payable to CCO Capital of $11.9 million and $13.9 million as of December 31, 2020 and 2019, respectively. Leases The Company has lease agreements with lease and non-lease components. The Company has elected to not separate non-lease components from lease components for all classes of underlying assets (primarily real estate assets) and will account for the combined components as rental and other property income. Non-lease components included in rental and other property income include certain tenant reimbursements for maintenance services (including common-area maintenance services or “CAM”), real estate taxes, insurance and utilities paid for by the lessor but consumed by the lessee. As a lessor, the Company has further determined that this policy will be effective only on a lease that has been classified as an operating lease and the revenue recognition pattern and timing is the same for both types of components. The Company is not party to any material leases where it is the lessee. Significant judgments and assumptions are inherent in not only determining if a contract contains a lease, but also the lease classification, terms, payments, and, if needed, discount rates. Judgments include the nature of any options, including if they will be exercised, evaluation of implicit discount rates and the assessment and consideration of “fixed” payments for straight-line rent revenue calculations. Lease costs represent the initial direct costs incurred in the origination, negotiation and processing of a lease agreement. Such costs include outside broker commissions and other independent third-party costs and are amortized over the life of the lease on a straight-line basis. Costs related to salaries and benefits, supervision, administration, unsuccessful origination efforts and other activities not directly related to completed lease agreements are expensed as incurred. Upon successful lease execution, leasing commissions are capitalized. Revenue Recognition Rental and other property income is primarily derived from fixed contractual payments from operating leases and, therefore, is generally recognized on a straight-line basis over the term of the lease, which typically begins the date the tenant takes control of the space. When the Company acquires a property, the terms of existing leases are considered to commence as of the acquisition date for the purpose of this calculation. Variable rental and other property income consists primarily of tenant reimbursements for recoverable real estate taxes and operating expenses, which are included in rental and other property income in the period when such costs are incurred, with offsetting expenses in real estate taxes and property operating expenses, respectively, within the consolidated statements of operations. The Company defers the recognition of variable rental and other property income, such as percentage rents, until the specific target that triggers the contingent rental income is achieved. The Company continually reviews whether collection of lease-related receivables, including any straight-line rent, and current and future operating expense reimbursements from tenants are probable. The determination of whether collectability is probable takes into consideration the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. Upon the determination that the collectability of a receivable is not probable, the Company will record a reduction to rental and other property income for amounts previously recorded and a decrease in the outstanding receivable. Revenue from leases where collection is deemed to be not probable is recorded on a cash basis until collectability becomes probable. Management’s estimate of the collectability of lease-related receivables is based on the best information available at the time of estimate. The Company does not use a general reserve approach and lease-related receivables are adjusted and taken against rental and other property income only when collectability becomes not probable. During the year ended December 31, 2020, the Company identified certain tenants where collection was no longer considered probable. For these tenants, the Company made the determination to record revenue on a cash basis and wrote off total outstanding receivables of $1.4 million for the year ended December 31, 2020, which included $158,000 of straight-line rental income and $235,000 related to certain tenant reimbursements. These write offs reduced rental and other property income during the year ended December 31, 2020. Income Taxes The Company elected to be taxed, and currently qualifies, as a REIT for federal income tax purposes beginning with our taxable year ended December 31, 2012. The Company generally is not subject to federal corporate income tax to the extent it distributes its taxable income to its stockholders, and so long as it, among other things, distributes at least 90% of its annual taxable income (computed without regard to the dividends paid deduction and excluding net capital gains). REITs are subject to a number of other organizational and operational requirements. Even if the Company maintains its qualification for taxation as a REIT, it may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed income. (Loss) Earnings and Distributions Per Share The Company has four classes of common stock with nonforfeitable dividend rights that are determined based on a different NAV for each class. Accordingly, the Company utilizes the two-class method to determine its earnings per share, which can result in different earnings per share for each of the classes. Under the two-class method, earnings per share of each class of common stock are computed by dividing the sum of the distributed earnings to common stockholders and undistributed earnings allocated to common stockholders by the weighted average number of shares for each class of common stock for the respective period. Diluted income per share, when applicable, considers the effect of any potentially dilutive share equivalents, of which the Company had none for each of the years ended December 31, 2020, 2019 or 2018. Distributions per share are calculated based on the authorized monthly distribution rate. Prior to April 1, 2020, distributions were calculated based on the authorized daily distribution rate. Offering and Related Costs CIM Income NAV Management funds all of the organization and offering costs associated with the sale of the Company’s common stock (excluding upfront selling commissions, dealer manager fees and ongoing stockholder servicing fees) and is reimbursed for such costs up to 0.75% of gross proceeds from the Offering, excluding upfront selling commissions and dealer manager fees, as applicable, charged on D Shares, T Shares and S Shares sold in the Primary Offering. As of December 31, 2020, CIM Income NAV Management, or its affiliates, had paid organization and offering costs in excess of the 0.75% in connection with the Offering. These excess costs were not included in the financial statements of the Company because such costs were not a liability of the Company as they exceeded 0.75% of gross proceeds from the Offering. As the Company raises additional proce

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS GAAP defines fair value, establishes a framework for measuring fair value and requires disclosures about fair value measurements. GAAP emphasizes that fair value is intended to be a market-based measurement, as opposed to a transaction-specific measurement. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. Depending on the nature of the asset or liability, various techniques and assumptions can be used to estimate the fair value. Assets and liabilities are measured using inputs from three levels of the fair value hierarchy, as follows: Level 1 — Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. An active market is defined as a market in which transactions for the assets or liabilities occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 — Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active (markets with few transactions), inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data correlation or other means (market corroborated inputs). Level 3 — Unobservable inputs, which are only used to the extent that observable inputs are not available, reflect the Company’s assumptions about the pricing of an asset or liability. The following describes the methods the Company uses to estimate the fair value of the Company’s financial assets and liabilities: Credit facility and notes payable — The fair value is estimated by discounting the expected cash flows based on estimated borrowing rates available to the Company as of the measurement date. Current and prior period liabilities’ carrying and fair values exclude net deferred financing costs. These financial instruments are valued using Level 2 inputs. As of December 31, 2020, the estimated fair value of the Company’s debt was $451.0 million, compared to a carrying value of $450.7 million. As of December 31, 2019, the estimated fair value of the Company’s debt was $351.2 million, compared to a carrying value of $351.0 million. Marketable securities — The Company’s marketable securities are carried at fair value and are valued using Level 1 inputs. The estimated fair value of the Company’s marketable securities are based on quoted market prices that are readily and regularly available in an active market. Derivative instruments — The Company’s derivative instruments are comprised of interest rate swaps. All derivative instruments are carried at fair value and are valued using Level 2 inputs. The fair value of these instruments is determined using interest rate market pricing models. In addition, credit valuation adjustments are incorporated into the fair values to account for the Company’s potential nonperformance risk and the performance risk of the respective counterparties. Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with those derivatives utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by the Company and its counterparties. However, as of December 31, 2020 and 2019, the Company assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and determined that the credit valuation adjustments are not significant to the overall valuation of the Company’s derivatives. As a result, the Company has determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. Other financial instruments — The Company considers the carrying values of its cash and cash equivalents, restricted cash, tenant receivables, accrued expenses and accounts payable, other liabilities, due to affiliates and distributions payable to approximate their fair values because of the short period of time between their origination and their expected realization as well as their highly-liquid nature. Due to the short-term maturities of these instruments, Level 1 inputs are utilized to estimate the fair value of these financial instruments. Considerable judgment is necessary to develop estimated fair values of financial assets and liabilities. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize, or be liable for, upon disposition of the financial assets and liabilities. As of December 31, 2020 and 2019, there have been no transfers of financial assets or liabilities between fair value hierarchy levels. Items Measured at Fair Value on a Recurring Basis In accordance with the fair value hierarchy described above, the following tables show 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 December 31, 2020 and 2019 (in thousands): Balance as of Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant December 31, 2020 (Level 1) (Level 2) (Level 3) Financial asset: Marketable securities $ 15,496 $ 15,496 $ — $ — Financial liabilities: Interest rate swaps $ (8,509) $ — $ (8,509) $ — Balance as of Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant December 31, 2019 (Level 1) (Level 2) (Level 3) Financial asset: Interest rate swaps $ 34 $ — $ 34 $ — Marketable securities 15,002 15,002 — — Total financial assets $ 15,036 $ 15,002 $ 34 $ — Financial liabilities: Interest rate swaps $ (4,917) $ — $ (4,917) $ — Items Measured at Fair Value on a Non-Recurring Basis (Including Impairment Charges) Certain financial and nonfinancial assets and liabilities are measured at fair value on a nonrecurring basis and are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment. The Company’s process for identifying and recording impairment related to real estate assets and intangible assets is discussed in Note 2 — Summary of Significant Accounting Policies. As discussed in Note 4 — Real Estate Assets, during the year ended December 31, 2020, real estate assets related to one anchored shopping center and three retail properties were impaired due to tenant bankruptcy. Additionally, real estate assets related to one anchored shopping center and one retail property were deemed to be impaired, due to the carrying values being greater than the estimated fair values of the properties, net of selling costs. The carrying value was reduced to an estimated fair value of 40.1 million, resulting in impairment charges of 13.9 million. During the year ended December 31, 2019, real estate assets related to one anchored shopping center and five retail properties were deemed to be impaired due to the carrying values being greater than the estimated fair values of the properties. The carrying value was reduced to an estimated fair value of $15.5 million, resulting in impairment charges of $3.1 million . The Company estimates fair values using Level 3 inputs and using a combined income and market approach, specifically using discounted cash flow analysis and recent comparable sales transactions. The evaluation of real estate assets for potential impairment requires the Company’s management to exercise significant judgment and to make certain key assumptions, including, but not limited to, the following: (1) terminal capitalization rates; (2) discount rates; (3) the number of years the property will be held; (4) property operating expenses; and (5) re-leasing assumptions, including the number of months to re-lease, market rental income and required tenant improvements. There are inherent uncertainties in making these estimates such as market conditions and the future performance and sustainability of the Company’s tenants. The Company determined that the selling prices used to determine the fair values were Level 2 inputs. The following summarizes the ranges of discount rates and terminal capitalization rates used for the Company’s impairment test for the real estate assets during the year ended December 31, 2020: Year Ended December 31, 2020 Discount Rate Terminal Capitalization Rate 7.87% - 9.69% 7.37% - 9.19% The following table presents the impairment charges by asset class recorded during the years ended December 31, 2020, 2019 and 2018 (in thousands): Year Ended December 31, 2020 2019 2018 Asset class impaired: Land $ 2,607 $ 329 $ 454 Buildings and improvements 8,889 2,227 1,000 Intangible lease assets 2,358 570 1,176 Intangible lease liabilities (3) (36) (363) Total impairment loss $ 13,851 $ 3,090 $ 2,267

REAL ESTATE ASSETS

REAL ESTATE ASSETS	12 Months Ended
	Dec. 31, 2020
Real Estate [Abstract]
REAL ESTATE ASSETS	REAL ESTATE ASSETS 2020 Property Acquisitions During the year ended December 31, 2020, the Company did not acquire any properties. 2020 Property Dispositions During the year ended December 31, 2020, the Company dispose d of two anchored shopping centers and three retail properties for an aggregate gross sales price of $16.8 million, resulting in net proceeds of $15.9 million after closing costs and a net gain of $627,000. The Company has no continuing involvement with these properties. The gain on sale of real estate is included in gain on disposition of real estate, net in the consolidated statements of operations. 2020 Impairment The Company performs quarterly impairment review procedures, primarily through continuous monitoring of events and changes in circumstances that could indicate that the carrying value of certain of its real estate assets may not be recoverable. See Note 2 — Summary of Significant Accounting Policies for a discussion on the Company’s accounting policies regarding impairment of real estate assets. During the year ended December 31, 2020, two anchored shopping center and four retail properties totaling approximately 329,000 square feet with a combined carrying value of $54.0 million were deemed to be impaired and their carrying values were reduced to an estimated combined fair value of $40.1 million, resulting in impairment charges of $13.9 million, which were recorded in the consolidated statements of operations. See Note 3 — Fair Value Measurements for a further discussion on these impairment charges. Consolidated Joint Venture As of December 31, 2020, the Company had an interest in a Consolidated Joint Venture that owns and manages two properties, with total assets of $7.0 million, which included $7.2 million of land, building and improvements, and $641,000 of intangible assets, net of accumulated depreciation and amortization of $924,000, and total liabilities of $106,000. The Consolidated Joint Venture did not have any debt outstanding as of December 31, 2020. The Company has the ability to control operating and financial policies of the Consolidated Joint Venture. There are restrictions on the use of these assets as the Company would generally be required to obtain the approval of the partner (the “Consolidated Joint Venture Partne r”) in accordance with the joint venture agreement for any major transactions. The Company and the Consolidated Joint Venture Partner are subject to the provisions of the joint venture agreement, which includes provisions for when additional contributions may be required to fund certain cash shortfalls. 2019 Property Acquisitions During the year ended December 31, 2019, the Company acquired a 100% interest in four commercial properties for an aggregate purchase price of $78.6 million (the “2019 Asset Acquisitions”), which included $287,000 of external acquisition-related expenses that were capitalized. The Company funded the 2019 Asset Acquisitions with net proceeds from the Offering, real estate dispositions and available borrowings. The following table summarizes the purchase price allocation for the 2019 Asset Acquisitions purchased during the year ended December 31, 2019 (in thousands): 2019 Asset Acquisitions Land $ 17,998 Buildings and improvements 54,373 Acquired in-place leases and other intangibles (1) 6,575 Intangible lease liabilities (2) (313) Total purchase price $ 78,633 ______________________ (1) The weighted average amortization period for acquired in-place leases and other intangibles was 14.1 years . (2) The weighted average amortization period for acquired intangible lease liabilities was 15.0 years . 2019 Property Dispositions During the year ended December 31, 2019, the Company disposed of 25 retail properties and three industrial properties for an aggregate gross sales price of $91.1 million, resulting in net proceeds of $88.1 million after closing costs and a net gain of $10.2 million. The Company has no continuing involvement with these properties. The gain on sale of real estate is included in gain on disposition of real estate, net in the consolidated statements of operations. 2019 Impairment During the year ended December 31, 2019, one anchored shopping center and five retail properties totaling approximately 129,000 square feet with a combined carrying value of $18.6 million were deemed to be impaired and their carrying values were reduced to an estimated fair value of $15.5 million , resulting in impairment charges of $3.1 million , which were recorded in the consolidated statements of operations. See Note 3 — Fair Value Measurements for a further discussion on these impairment charges. 2018 Property Acquisitions During the year ended December 31, 2018, the Company acquired a 100% interest in 19 commercial properties for an aggregate purchase price of $254.2 million (the “2018 Acquisitions”), which included $1.4 million of external acquisition-related expenses that were capitalized. The Company funded the 2018 Acquisitions with net proceeds from the Offering and available borrowings. The following table summarizes the purchase price allocation for the 2018 Acquisitions (in thousands): 2018 Asset Acquisitions Land 28,293 Building and improvements 193,658 Acquired in-place leases and other intangibles (1) 31,279 Acquired above-market leases (2) 5,707 Intangible lease liabilities (3) (4,721) Total purchase price $ 254,216 ______________________ (1) The weighted average amortization period for acquired in-place leases and other intangibles was 13.7 years . (2) The weighted average amortization period for acquired above-market leases was 14.0 years . (3) The weighted average amortization period for acquired intangible lease liabilities was 17.5 years . 2018 Property Dispositions During the year ended December 31, 2018, the Company disposed of two anchored shopping centers and four retail properties for an aggregate gross sales price of $49.1 million, resulting in net proceeds of $36.4 million after closing costs and the repayment of the $11.3 million fixed rate debt secured by one of the disposed properties and a net gain of $1.0 million. The Company has no continuing involvement with these properties. The gain on sale of real estate is included in gain on disposition of real estate, net in the consolidated statements of operations. 2018 Impairmen t During the year ended December 31, 2018, one anchored shopping center totaling approximately 149,000 square feet with a carrying value of $19.1 million was deemed to be impaired and its carrying value was reduced to an estimated fair value of $16.8 million, resulting in impairment charges of $2.3 million, which were recorded in the consolidated statements of operations. See Note 3 — Fair Value Measurements for a further discussion on these impairment charges.

INTANGIBLE LEASE ASSETS AND LIA

INTANGIBLE LEASE ASSETS AND LIABILITIES	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE LEASE ASSETS AND LIABILITIES	INTANGIBLE LEASE ASSETS AND LIABILITIES Intangible lease assets and liabilities consisted of the following as of December 31, 2020 and 2019 (in thousands, except weighted average life remaining): As of December 31, 2020 2019 Intangible lease assets: In-place leases and other intangibles, net of accumulated amortization of $27,966 and $23,026, respectively (with a weighted average life remaining of 9.8 years and 14.6 years, respectively) $ 65,157 $ 75,754 Acquired above-market leases, net of accumulated amortization of $3,938 and $3,118, respectively (with a weighted average life remaining of 11.4 years and 12.7 years, respectively) 9,678 10,820 Total intangible lease assets, net $ 74,835 $ 86,574 Intangible lease liabilities: Acquired below-market leases, net of accumulated amortization of $4,734 and $4,111, respectively (with a weighted average life remaining of 10.2 years and 20.9 years, respectively) $ 12,040 $ 13,618 Amortization of the above-market leases is recorded as a reduction to rental and other property income, and amortization expense for the in-place leases and other intangibles is included in depreciation and amortization in the accompanying consolidated statements of operations. Amortization of below-market leases is recorded as an increase to rental and other property income in the accompanying consolidated statements of operations. The following table summarizes the amortization related to the intangible lease assets and liabilities for the years ended December 31, 2020, 2019 and 2018 (in thousands): Year Ended December 31, 2020 2019 2018 In-place lease and other intangible amortization $ 7,776 $ 9,029 $ 8,971 Above-market lease amortization $ 1,020 $ 1,104 $ 959 Below-market lease amortization $ 1,393 $ 1,569 $ 1,501 As of December 31, 2020, the estimated amortization relating to the intangible lease assets and liabilities is as follows (in thousands): Amortization Year Ending December 31, In-Place Leases and Other Intangibles Above-Market Leases Below-Market Leases 2021 $ 7,397 $ 1,005 $ 1,237 2022 7,352 1,005 1,213 2023 7,197 1,004 1,203 2024 6,835 943 1,140 2025 6,197 883 1,109 Thereafter 30,179 4,838 6,138 Total $ 65,157 $ 9,678 $ 12,040

INVESTMENT IN CIM UII ONSHORE

INVESTMENT IN CIM UII ONSHORE	12 Months Ended
	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENT IN CIM UII ONSHORE	INVESTMENT IN CIM UII ONSHORE On September 27, 2019, the Company executed a subscription agreement (the “Subscription Agreement”) to purchase $50.0 million of limited partnership interests in CIM UII Onshore. CIM UII Onshore’s sole purpose is to invest all of its assets in CIM Urban Income, which is a private institutional fund that acquires, owns and operates substantially stabilized, diversified real estate and real estate-related assets in urban markets primarily located throughout North America. The investment was made by the Company to gain exposure to the urban real assets invested in by CIM Urban Income. The Company’s Subscription Agreement was accepted by the general partner of CIM UII Onshore on September 30, 2019, and the entire $50.0 million of capital was called and funded on March 31, 2020. The Company accounts for its investment using the equity method. During the year ended December 31, 2020, the Company recognized an equity method net loss of $2.7 million related to its investment. The Company received dividends totaling $660,000 related to its investment during the year ended December 31, 2020, which was recognized as a return of capital. As of December 31, 2020, the carrying value of the Company’s investment was $46.7 million, which represents less than 5% ownership of CIM UII Onshore, and approximates fair value.

MARKETABLE SECURITIES

MARKETABLE SECURITIES	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
MARKETABLE SECURITIES	MARKETABLE SECURITIES The Company owned marketable securities with an estimated fair value of $15.5 million and $15.0 million as of December 31, 2020 and 2019, respectively. The following is a summary of the Company’s available-for-sale securities as of December 31, 2020 (in thousands): Available-for-sale securities Amortized Cost Basis Unrealized Gain Fair Value U.S. Treasury Bonds $ 6,415 $ 274 $ 6,689 U.S. Agency Bonds 1,721 35 1,756 Corporate Bonds 6,619 432 7,051 Total available-for-sale securities $ 14,755 $ 741 $ 15,496 The following table provides the activity for the marketable securities during the year ended December 31, 2020 (in thousands): Amortized Cost Basis Unrealized Gain (Loss) Fair Value Marketable securities as of January 1, 2020 $ 14,829 $ 173 $ 15,002 Face value of marketable securities acquired 3,699 — 3,699 Premiums and discounts on purchase of marketable securities, net of acquisition costs 247 — 247 Amortization on marketable securities (70) — (70) Sales and maturities of securities (3,950) 31 (3,919) Unrealized gain on marketable securities — 537 537 Marketable securities as of December 31, 2020 $ 14,755 $ 741 $ 15,496 During the year ended December 31, 2020, the Company sol d 26 marketable securities for aggregate proceeds of $3.9 million resulting in a loss of $31,000 . In addition, the Company recorded an unrealized gain of $537,000 on its investments, which is included in accumulated other comprehensive income (loss) attributable to the Company in the accompanying consolidated statements of changes in equity for the year ended December 31, 2020 and the consolidated balance sheet as of December 31, 2020. The total unrealized holding gain on marketable securities of $741,000 and $173,000 as of December 31, 2020 and 2019, respectively, is included in accumulated other comprehensive income (loss) attributable to the Company in the accompanying consolidated statement of changes in equity. The scheduled maturities of the Company’s marketable securities as of December 31, 2020 are as follows (in thousands): Available-for-sale securities Amortized Cost Estimated Fair Value Due within one year $ 2,061 $ 2,074 Due after one year through five years 5,970 6,327 Due after five years through ten years 5,039 5,377 Due after ten years 1,685 1,718 Total $ 14,755 $ 15,496 Actual maturities of marketable securities can differ from contractual maturities because borrowers on certain debt securities may have the right to prepay their respective debt obligations at any time. In addition, factors such as prepayments and interest rates may affect the yields on such securities. In estimating credit losses, management considers a variety of factors, including (1) whether the Company will be required to sell the impaired security before the recovery of its amortized cost basis, (2) whether the Company expects to hold the investment for a period of time sufficient to allow for anticipated recovery in fair value, and (3) whether the Company expects to recover the entire amortized cost basis of the security. The Company believes that none of the unrealized losses on investment securities are credit losses as management expects the Company will fully recover the entire amortized cost basis of all securities. As of December 31, 2020, the Company had no credit losses.

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES In the normal course of business, the Company uses certain types of derivative instruments for the purpose of managing or hedging its interest rate risk. During the year ended December 31, 2020, one of the Company’s interest rate swaps matured. As of December 31, 2020, the Company had eight interest rate swap agreements. The following table summarizes the terms of the Company’s executed interest rate swap agreements designated as hedging instruments as of December 31, 2020 and 2019 (dollar amounts in thousands): Outstanding Notional Amount as of December 31, 2020 Fair Value of Liabilities Balance Sheet Location Interest Rates (1) Effective Dates Maturity Dates December 31, 2020 December 31, 2019 Interest Rate Swaps (2) Derivative liabilities, deferred rental income and other liabilities $ 281,465 3.46% to 4.99% 12/16/2016 to 9/30/2019 9/13/2021 to 9/6/2022 $ (8,509) $ (4,917) ____________________________________ (1) The interest rates consist of the underlying index swapped to a fixed rate and the applicable interest rate spread as of December 31, 2020. (2) As of December 31, 2019, interest rate swaps with an aggregate outstanding notional amount of $49.2 million were in an asset position with an aggregate fair value balance of $34,000 and were included in prepaid expenses and other assets in the accompanying consolidated balance sheets. Additional disclosures related to the fair value of the Company’s derivative instruments are included in Note 3 — Fair Value Measurements. The notional amount under the interest rate swap agreements is an indication of the extent of the Company’s involvement in each instrument, 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 in order to hedge the variability of the anticipated cash flows on its variable rate debt. The change in fair value of the derivative instruments that are designated as hedges is recorded in other comprehensive loss, with a portion of the amount subsequently reclassified to interest expense as interest payments are made on the Company’s variable rate debt. For the year ended December 31, 2020, the amounts of losses reclassified from other comprehensive (loss) income as an increase to interest expense was $4.7 million . For the years ended December 31, 2019 and 2018, the amount of gains reclassified from other comprehensive (loss) income as a decrease to interest expense was $167,000 and $294,000, respectively. The total unrealized holding loss on interest rate swaps of $8.5 million and $4.9 million as of December 31, 2020 and 2019, respectively, is included in accumulated other comprehensive income (loss) attributable to the Company in the accompanying consolidated statement of changes in equity. During the next 12 months, the Company estimates that an additional $5.7 million will be reclassified from total other comprehensive loss as an increase to interest expense. The Company includes cash flows from interest rate swap agreements in cash flows provided by operating activities on the consolidated statements of cash flows, as the Company’s accounting policy is to present cash flows from hedging instruments in the same category in the consolidated statements of cash flows as the category for cash flows from the hedged items. The Company has agreements with each of its derivative counterparties that contain provisions whereby, if the Company defaults on certain of its unsecured indebtedness, the Company could also be declared in default on its derivative obligations resulting in an acceleration of payment. If the Company had breached any of these provisions, it could have been required to settle its obligations, under the agreements at an aggregate termination value, inclusive of interest payments of $8.7 million , which includes accrued interest, at December 31, 2020 . In addition, the Company is exposed to credit risk in the event of non-performance by its derivative counterparties. The Company believes it mitigates its credit risk by entering into agreements with creditworthy counterparties. The Company records credit risk valuation adjustments on its interest rate swaps based on the

CREDIT FACILITY AND NOTES PAYAB

CREDIT FACILITY AND NOTES PAYABLE	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
CREDIT FACILITY AND NOTES PAYABLE	CREDIT FACILITY AND NOTES PAYABLE As of December 31, 2020, the Company had $449.4 million of debt outstanding, including net deferred financing costs, with a weighted average years to maturit y of 1.4 years and a weighted average interest rate of 3.66%. The weighted average years to maturity is computed using the scheduled repayment date as specified in each loan agreement where ap plicable. The weighted average interest rate is computed using the interest rate in effect until the scheduled repayment date. Should a loan not be repaid by its scheduled repayment date, the applicable interest rate will increase as specified in the respective loan agreement until the extended maturity date. The following table summarizes the debt balances as of December 31, 2020 and 2019, and the debt activity for the year ended December 31, 2020 (in thousands): During the Year Ended December 31, 2020 Balance as of Debt Issuances, Net (1) Repayments Amortization Balance as of Credit facility $ 212,500 $ 127,000 $ (18,000) $ — $ 321,500 Fixed rate debt 138,459 — (9,240) — 129,219 Total debt 350,959 127,000 (27,240) — 450,719 Deferred costs - credit facility (2) (1,023) — — 378 (645) Deferred costs - fixed rate debt (997) — — 301 (696) Total debt, net $ 348,939 $ 127,000 $ (27,240) $ 679 $ 449,378 ____________________________________ (1) Includes deferred financing costs incurred during the period. (2) Deferred costs related to the term portion of the credit facility, as discussed in Note 2 — Summary of Significant Accounting Policies. Notes Payable As of December 31, 2020, the Company had fixed rate debt outstanding of $129.2 million , including $69.0 million of variable rate debt that is fixed through interest rate swap agreements, which has the effect of fixing the variable interest rate per annum through the maturity date of the variable rate debt. The fixed rate debt has interest rates ranging from 3.56% to 4.17% per annum and as of December 31, 2020, the fixed rate debt had a weighted average interest rate of 3.93% . The fixed rate debt outstanding matures on various dates from October 2021 to February 2025 . The aggregate balance of gross real estate assets, net of gross intangible lease liabilities, securing the fixed rate debt outstanding was $228.8 million as of December 31, 2020. Each of the mortgage notes payable comprising the fixed rate debt is secured by the respective properties on which the debt was placed. Credit Facility The Company is party to a second amended and restated credit agreement (the “Second Amended Credit Agreement”) with JPMorgan Chase Bank, N.A. as administrative agent (“JPMorgan Chase”), that provides for borrowings up to $425.0 million, which is comprised of up to $212.5 million in unsecured revolving loans (the “Revolving Loans”) and up to $212.5 million in unsecured term loans (the “Term Loans”) (collectively, with the Revolving Loans, the “Credit Facility”). The Term Loans mature on September 6, 2022 and the Revolving Loans mature on September 6, 2021; however, the Company may elect to extend the maturity date for the Revolving Loans for up to two six-month periods, but no later than September 6, 2022, subject to satisfying certain conditions contained in the Second Amended Credit Agreement. Depending upon the type of loan specified and overall leverage ratio, the Credit Facility bears interest at (i) the one-month, two-month, three-month or six-month LIBOR multiplied by the statutory reserve rate (the “Eurodollar Rate”) plus an interest rate spread ranging from 1.70% to 2.20% for Revolving Loans and 1.60% to 2.10% for Term Loans; or (ii) a base rate ranging from 0.70% to 1.20% for Revolving Loans and 0.60% to 1.10% for Term Loans, plus the greater of: (a) JPMorgan Chase’s Prime Rate (as defined in the Second Amended Credit Agreement); (b) the Federal Funds Effective Rate (as defined in the Second Amended Credit Agreement) plus 0.50%; or (c) the one-month LIBOR multiplied by the statutory reserve rate plus 1.0% . As of December 31, 2020, the Revolving Loans outstanding totaled $109.0 million at an interest rate of 2.20%. As of December 31, 2020, the Term Loans outstanding totaled $212.5 million, all of which are subject to interest rate swap agreements (the “Swapped Term Loans”). The interest rate swap agreements have the effect of fixing the Eurodollar Rate per annum of the Swapped Term Loan at an all-in rate of 4.25% . As of December 31, 2020, the Company had $321.5 million outstanding under the Credit Facility at a weighted average interest rate of 3.56% and $103.5 million in unused capacity, subject to borrowing availability. The Company had $32.6 million available borrowings as of December 31, 2020. The Second Amended Credit Agreement contains provisions with respect to covenants, events of default and remedies customary for facilities of this nature. In particular, the Second Amended Credit Agreement requires the Company to maintain a minimum consolidated net worth greater than or equal to the sum of (i) $367.1 million plus (ii) 75% of the equity issued (iii) minus the aggregate amount of any redemptions or similar transaction from the date of the Second Amended Credit Agreement, a leverage ratio less than or equal to 60% , a fixed charge coverage ratio equal to or greater than 1.50 , an unsecured debt to unencumbered asset value ratio equal to or less than 60%, an unsecured debt service coverage ratio greater than 1.75, a secured debt ratio equal to or less than 40%, and the amount of secured debt that is recourse debt at no greater than 15% of total asset value. As of December 31, 2020, the Company believes it was in compliance with the financial covenants of the Second Amended Credit Agreement, as well as the financial covenants under the Company’s various fixed and variable rate debt agreements. Maturities As of December 31, 2020, the Company had $109.0 million of debt outstanding under the Credit Facility maturing on September 6, 2021 and $20.4 million of fixed rate debt maturing on October 1, 2021. For the debt outstanding under the Credit Facility, the Company expects to extend the maturity date for the Revolving Loans for up to two six-month periods, subject to satisfying certain conditions contained in the Second Amended Credit Agreement. For the fixed rate debt, the Company expects to use cash on hand or entering into new financing arrangements in order to meet its debt obligations, which management believes is probable based on the current loan-to-value ratios, the occupancy of the Company’s properties and assessment of the lending environment. The Company believes cash on hand, net cash provided by operations and the entry into new financing arrangements will be sufficient to meet its obligations as they become due in the ordinary course of business for at least 12 months following the date these financial statements are issued. The following table summarizes the scheduled aggregate principal repayments for the Company’s outstanding debt subsequent to December 31, 2020 (in thousands): Year Ending December 31, Principal Repayments 2021 $ 129,442 2022 304,327 2023 — 2024 — 2025 16,950 Thereafter — Total $ 450,719

SUPPLEMENTAL CASH FLOW DISCLOSU

SUPPLEMENTAL CASH FLOW DISCLOSURES	12 Months Ended
	Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURES	SUPPLEMENTAL CASH FLOW DISCLOSURES Supplemental cash flow disclosures for the years ended December 31, 2020, 2019 and 2018 are as follows (in thousands): Year Ended December 31, 2020 2019 2018 Supplemental Disclosures of Non-Cash Investing and Financing Activities: Change in accrued dealer manager fees, ongoing stockholder servicing fees, and other offering costs $ 613 $ 3,867 $ (2,236) Distributions to stockholders declared and unpaid $ 4,887 $ 2,814 $ 2,719 Common stock issued through distribution reinvestment plan $ 13,108 $ 16,201 $ 13,774 Redemptions to stockholders declared and unpaid $ 2,082 $ — $ — Change in fair value of marketable securities $ 568 $ 265 $ 85 Change in fair value of interest rate swaps $ (3,626) $ (5,540) $ (1,044) Accrued deferred financing costs $ 1 $ — $ 9 Supplemental Cash Flow Disclosures: Interest paid $ 16,115 $ 14,115 $ 13,273 Cash paid for taxes $ 197 $ 179 $ 184

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2020
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 and claims. The Company is not aware of any material pending legal proceedings, other than ordinary routine litigation incidental to the Company’s business, to which the Company is a party or of which the Company’s properties are the subject. Environmental Matters In connection with the ownership and operation of real estate, the Company may potentially be liable for costs and damages related to environmental matters. In addition, the Company may own or acquire certain properties that are subject to environmental remediation. Generally, the seller of the property, the tenant of the property and/or another third party is responsible for environmental remediation costs related to a property. Additionally, in connection with the purchase of certain properties, the respective sellers and/or tenants may agree to indemnify the Company against future remediation costs. The Company also carries environmental liability insurance on its properties that provides limited coverage for any remediation liability and/or pollution liability for third-party bodily injury and/or property damage claims for which the Company may be liable. The Company is not aware of any environmental matters which it believes are reasonably likely to have a material effect on its results of operations, financial condition or liquidity.

RELATED-PARTY TRANSACTIONS AND

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS	RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS The Company has incurred, and will continue to incur, commissions, fees and expenses payable to CIM Income NAV Management and certain of its affiliates in connection with the Offering, and the acquisition, management and performance of the Company’s assets. Upfront selling commissions, dealer manager and ongoing stockholder servicing fees In connection with the Offering, CCO Capital, the Company’s dealer manager, will receive upfront selling commissions and dealer manager fees, and/or an asset-based stockholder servicing fees, as summarized in the table below for each class of common stock: Upfront Selling Commissions Dealer Manager Fees Ongoing Stockholder Servicing Fees (2) D Shares (1) — % — % 0.25 % T Shares (1) 3.00 % 0.50 % 0.85 % S Shares (1) 3.50 % — % 0.85 % I Shares — % — % — % ____________________________________ (1) The upfront selling commissions are based on a percentage of the transaction price, which is exclusive of the upfront selling commission, for T Shares and S Shares. Prior to February 28, 2020, there was a 1.50% upfront selling commission payable on D Shares. Effective February 28, 2020, there are no upfront selling commissions or dealer manager fees payable on D Shares. The dealer manager fee is based on a percentage of the transaction price for T Shares. Upfront selling commissions and dealer manager fees are deducted directly from the offering price for T Shares and S Shares and paid to CCO Capital. The Company has been advised that CCO Capital intends to reallow 100% of the upfront selling commissions on T Shares and S Shares to participating broker-dealers and may reallow a portion of the dealer manager fee. (2) The stockholder servicing fees are calculated as a percentage of the NAV per D Share, T Share or S Share, as applicable, and are paid monthly in arrears. CCO Capital, in its sole discretion, may reallow a portion of the stockholder servicing fees to participating broker-dealers. The Company will cease paying the stockholder servicing fees with respect to any D Shares, T Shares or S Shares held in a stockholder’s account when the total upfront selling commissions, dealer manager fees and stockholder servicing fees would exceed, in the aggregate, 8.75% (or, in the case of shares sold through certain participating broker-dealers, a lower limit as set forth in any applicable agreement between the Company’s dealer manager and a participating broker-dealer) of the gross proceeds from the sale of such shares. Other organization and offering expenses All other organization and offering expenses associated with the sale of the Company’s common stock (excluding upfront selling commissions, dealer manager fees and the ongoing stockholder servicing fees) are paid for by CIM Income NAV Management or its affiliates and can be reimbursed by the Company up to 0.75% of the aggregate gross offering proceeds, excluding upfront selling commissions and dealer manager fees charged on T Shares and S Shares sold in the Primary Offering. Prior to February 28, 2020, there was a 1.50% upfront selling commission on D Shares. Effective February 28, 2020, there are no upfront selling commissions on D Shares. As of December 31, 2020, CIM Income NAV Management or its affiliates had paid organization and offering expenses in excess of 0.75% of the gross proceeds from the Offering. These excess amounts were not included in the financial statements of the Company because such amounts were not a liability of the Company as they exceeded 0.75% of gross proceeds from the Offering. As the Company raises additional proceeds from the Offering, these excess amounts may become payable to CIM Income NAV Management or its affiliates. Advisory fees and expenses The Company pays CIM Income NAV Management an asset-based advisory fee that is payable in arrears on a monthly basis and accrues daily in an amount equal to 1/365th of 1.10% of the Company’s NAV for each class of common stock. At the request of the Board, CIM Income NAV Management agreed to take 50% of the monthly advisory fee payment from August 2020 through June 30, 2021 in I Shares based on the then current NAV per share of such shares at the time of issuance. During the year ended December 31, 2020, approximately 41,000 Class I Shares were issued for payment of advisory fees, which vested upon issuance, totaling $700,000 for the year ended December 31, 2020 in equity-based payments included in advisory fees and expenses in the consolidated statements of operations. Operating expenses The Company reimburses CIM Income NAV Management for the operating expenses it paid or incurred in connection with the services provided to the Company, subject to the limitation that the Company will not reimburse for any amount by which its operating expenses (including the advisory fee) at the end of the four preceding fiscal quarters exceeds the greater of (1) 2% of average invested assets, or (2) 25% of net income other than any additions to reserves for depreciation, bad debts or other similar non-cash reserves and excluding any gain from the sale of assets for that period. Acquisition expenses In addition, the Company reimburses CIM Income NAV Management for all out-of-pocket expenses incurred in connection with the acquisition of the Company’s investments. While most of the acquisition expenses are expected to be paid to third parties, a portion of the out-of-pocket acquisition expenses may be reimbursed to CIM Income NAV Management or its affiliates. Acquisition expenses, together with any acquisition fees paid to third parties for a particular real estate-related asset, will in no event exceed 6% of the gross purchase price of such asset. Other acquisition-related expenses, such as advisor reimbursements, are expensed as incurred and are included in transaction-related expenses in the accompanying consolidated statements of operations. Performance Fee As compensation for services provided pursuant to the second amended and restated advisory agreement with CIM Income NAV Management, the Company will also pay CIM Income NAV Management a performance-based fee calculated based on the Company’s annual total return to stockholders for each class of common stock (defined below), payable annually in arrears. The total return to stockholders is defined, for each class of the Company’s common stock, as the change in NAV per share plus distributions per share for such class. For each respective class, the NAV per share is calculated on the last trading day of a calendar year shall be the amount against which changes in NAV per share for such class are measured during the subsequent calendar year. Under the terms of the advisory agreement, in the event that performance fees are earned for any particular period, CIM Income NAV Management will not be obligated to return any portion of such fees previously paid based on the Company’s subsequent performance. Through December 31, 2018, the performance fee was calculated such that for any calendar year in which the total return per share for a particular class exceeded 6% (the “6% Return”), CIM Income NAV Management would receive 25% of the excess total return on such class above the 6% Return allocable to that class, but in no event would the Company pay CIM Income NAV Management more than 10% of the aggregate total return, for that class, for such year. However, in the event the NAV per share of the Company’s D Shares, T Shares and I Shares decreased below the base NAV for the respective share class ($15.00, $16.72 and $16.82 for the D Shares, T Shares and I Shares, respectively) (the “Base NAV”), the performance fee for a respective class was not calculated on any increase in NAV up to the Base NAV for the respective share class. In addition, the performance fee was not payable with respect to any calendar year in which the NAV per share as of the last business day of the calendar year (the “Ending NAV”) for the respective share class was less than the Base NAV of that class. The Base NAV of any share class was subject to downward adjustment in the event that the Company’s Board, including a majority of the independent directors, determined that such an adjustment was necessary to provide an appropriate incentive to CIM Income NAV Management to perform in a manner that sought to maximize stockholder value and was in the best interests of the Company’s stockholders. In the event of any stock dividend, stock split, recapitalization or similar change in the Company’s capital structure, the Base NAV for the respective share class was to be ratably adjusted to reflect the effect of any such event. The Company did not reach the 6% Return during the year ended December 31, 2018 and, therefore, no performance fee was paid during the year. Starting with the period beginning on January 1, 2019, the performance-based fee is equal to 12.5% of the Total Return for each class of common stock, subject to a 5% Hurdle Amount, a High Water Mark and a Catch-Up (each term as defined in the advisory agreement), payable annually in arrears. The Company did not reach the 5% Hurdle Amount during the years ended December 31, 2020 and 2019. The Company incurred commissions, fees and expense reimbursements as shown in the table below for services provided by CIM Income NAV Management and its affiliates related to the services described above during the periods indicated (in thousands): Year Ended December 31, 2020 2019 2018 Upfront selling commissions $ 396 $ 1,488 $ 2,797 Stockholder servicing fees (1) $ 2,574 $ 2,910 $ 1,126 Dealer manager fees (1) $ 69 $ 267 $ 2,609 Organization and offering expense reimbursement $ 253 $ 830 $ 1,339 Acquisition expense reimbursement $ 714 $ 1,217 $ 1,722 Advisory fee $ 6,382 $ 7,902 $ 5,858 Operating expense reimbursement $ 861 $ 2,388 $ 2,652 ______________________ (1) Amounts are calculated for the respective period in accordance with the dealer manager agreement and exclude the estimated liability for the future fees payable to CCO Capital of $11.9 million and $13.9 million as of December 31, 2020 and 2019, respectively, which are included in due to affiliates in the consolidated balance sheets, with a corresponding decrease to capital in excess of par value, as described in Note 2 — Summary of Significant Accounting Policies. Due to/from Affiliates As of December 31, 2020 and 2019, $13.8 million and $16.6 million, respectively, was due to CIM Income NAV Management or its affiliates primarily related to the estimated liability for current and future stockholder servicing fees, the reimbursement of organization and offering expenses, and advisory fees, which were included in amounts due to affiliates on the consolidated balance sheets. As of December 31, 2020 and 2019, $7,000 and $8,000 was due from CIM Income NAV Management or its affiliates related to amounts received by affiliates of the advisor which were due to the Company. CIM UII Onshore Investment On September 27, 2019, the Company executed a Subscription Agreement to purchase $50.0 million of limited partnership interests of CIM UII Onshore, which was accepted by the general partner of CIM UII Onshore on September 30, 2019. As of December 31, 2020, the limited partnership interest in CIM UII Onshore had a carrying value of $46.7 million .

ECONOMIC DEPENDENCY

ECONOMIC DEPENDENCY	12 Months Ended
	Dec. 31, 2020
Economic Dependency [Abstract]
ECONOMIC DEPENDENCY	ECONOMIC DEPENDENCYUnder various agreements, the Company has engaged and may in the future engage CIM Income NAV Management or its affiliates to provide certain services that are essential to the Company, including asset management services, supervision of the management and leasing of properties owned by the Company, asset acquisition and disposition decisions, the sale of shares of the Company’s common stock available for issuance, as well as other administrative responsibilities for the Company including accounting services and stockholder relations. As a result of these relationships, the Company is dependent upon CIM Income NAV Management or its affiliates. In the event that these companies are unable to provide the Company with these services, the Company would be required to find alternative providers of these services.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITYAs of December 31, 2020, the Company was authorized to issue up to 500,000,000 shares of capital stock. Of the total number of shares of capital stock authorized (a) 490,000,000 shares are designated as common stock, 122,500,000 of which are classified as D Shares, 122,500,000 of which are classified as T Shares, 122,500,000 of which are classified as S Shares, and 122,500,000 of which are classified as I Shares, and (b) 10,000,000 shares are designated as preferred stock. All shares of such stock have a par value of $0.01 per share. The Company’s Board may amend the charter from time to time to increase or decrease the aggregate number of authorized shares of capital stock or the number of authorized shares of capital stock of any class or series without stockholder approval. During the year ended December 31, 2020, the Company issued a total of 2.0 million shares, including 766,000 shares issued under the DRIP, for gross proceeds of $34.1 million . As of December 31, 2020, the Company had iss ued 48.8 million shares of common stock for cumulative gross proceeds of $878.2 million. The table below provides information regarding the issuances and redemptions of each class of the Company’s common stock during the years ended December 31, 2020, 2019 and 2018 (dollar amounts in thousands): D Shares T Shares S Shares (1) I Shares Total Shares Par Value Shares Par Value Shares Par Value Shares Par Value Shares Par Value Balance as of January 1, 2018 15,837,102 $ 158 8,793,223 $ 88 — $ — 1,065,232 $ 11 25,695,557 $ 257 Issuance of common stock 4,853,772 48 4,719,621 47 — — 257,671 3 9,831,064 98 Conversion of shares (8,997) — — — — — 8,889 — (108) — Redemptions of common stock (1,746,560) (17) (735,522) (7) — — (172,062) (2) (2,654,144) (26) Equity-based compensation 7,212 — — — — — — — 7,212 — Balance as of December 31, 2018 18,942,529 $ 189 12,777,322 $ 128 — $ — 1,159,730 $ 12 32,879,581 $ 329 Issuance of common stock 2,670,861 27 3,471,200 35 7,031 — 109,678 1 6,258,770 63 Redemptions of common stock (3,477,667) (35) (1,748,886) (18) — — (171,512) (2) (5,398,065) (55) Equity-based compensation 7,424 — — — — — — — 7,424 — Balance as of December 31, 2019 18,143,147 $ 181 14,499,636 $ 145 7,031 $ — 1,097,896 $ 11 33,747,710 $ 337 Issuance of common stock 751,336 8 1,164,339 11 368 — 35,567 — 1,951,610 $ 19 Conversion of shares (25,087) — — — — — 24,687 — (400) — Redemptions of common stock (3,561,581) (36) (1,885,841) (18) — — (187,689) (1) (5,635,111) (55) Equity-based compensation 10,691 — — — — — — — 10,691 — Equity-based payments to advisor — — — — — — 40,881 — 40,881 — Balance as of December 31, 2020 15,318,506 $ 153 13,778,134 $ 138 7,399 $ — 1,011,342 $ 10 30,115,381 $ 301 ______________________ (1) The Company did not issue any Class S Shares prior to October 10, 2019. NAV per Share Calculation The purchase and redemption price for shares of our common stock is based on our NAV per share for each class as determined each month. The Company has engaged an independent valuation expert which has expertise in appraising commercial real estate assets and related liabilities, to provide, on a rolling annual basis, valuations of each of the Company’s commercial real estate assets and related liabilities to be set forth in individual appraisal reports, and to adjust those valuations for events known to the independent valuation expert that it believes are likely to have a material impact on previously provided estimates of the value of the affected commercial real estate assets or related real estate liabilities. In addition, the calculation of NAV for each class includes liquid assets, which are priced monthly using third party pricing services, and cash and cash equivalents. The Company’s NAV per share is calculated monthly as of the last calendar day of each month by an independent fund accountant using a process that incorporates (1) the periodic valuations of each of the Company’s real estate assets and related liabilities by the Company’s independent valuation expert, (2) ongoing assessment by the valuation expert of the estimated impact of any events that require adjustment to the most recent valuations determined by the valuation expert, (3) updates in the price of liquid assets for which third-party market quotes are available, (4) valuations of any securities or other assets for which market quotes are not available, (5) valuation of the Company’s other assets and liabilities, (6) accruals of the Company’s distributions for each share class, and (7) estimates of monthly accruals, on a net basis, of operating revenues, expenses, debt service costs and fees. The NAV for each class will be adjusted for subscriptions, redemptions and accruals of such class’s distributions and estimates of class-specific fee and expense accruals. Distributions reflect the monthly distribution rate set by the Company’s Board, which may vary for each class. Upfront selling commissions and dealer manager fees will have no effect on the NAV of any share class. The NAV is intended to reflect our estimated value as of the last calendar day of the month prior to the date that the NAV is determined. The NAV per share for each class is determined by dividing such class’s NAV at the end of each month by the number of shares outstanding for that class as of the end each month, prior to giving effect to any share purchases or redemptions to be effected each month. At regularly scheduled board of directors meetings, the Company’s Board reviews the process by which the Company’s advisor estimated the monthly accruals and the independent fund accountant calculated the NAV per share, and the operation and results of the process to determine NAV per share generally. The Company’s NAV is not calculated in accordance with GAAP and is not audited by the independent registered public accounting firm. Distribution Reinvestment Plan Pursuant to the DRIP, the Company allows stockholders to elect to have their distributions reinvested in additional shares of the Company’s common stock. The purchase price for shares under the DRIP is equal to the NAV per share on the date that the distribution is payable, after giving effect to the distribution. During the years ended December 31, 2020, 2019 and 2018, 766,000 , 917,000 and 758,000 shares were purchased under the DRIP for $13.1 million , $16.2 million and $13.8 million, respectively. Share Redemption Program Effective April 1, 2020, the Company has adopted the Amended Share Redemption Program to provide limited liquidity whereby, on a monthly basis, stockholders may request that the Company redeems all or any portion of their shares. The Amended Share Redemption Program provides that, no later than on the second to last business day of a given month, stockholders may request that the Company redeems all or any portion of their shares, subject to a minimum redemption amount and certain short-term trading fees. The redemption price per share for each class will be our NAV per share for such class for that month, calculated by the independent fund accountant in accordance with our valuation policies. Prior to April 1, 2020, the share redemption plan provided limited liquidity whereby, on a daily basis, stockholders could request that the Company redeems all or any portion of their shares. As of July 2020, the Board determined that monthly redemptions temporarily would be limited to shares whose aggregate value is no more than 0.8% of our aggregate NAV as of the last calendar day of the previous calendar month, and in any calendar quarter, redemptions will be limited to shares whose aggregate value is no more than 2.0% of our aggregate NAV as of the last calendar day of the previous calendar quarter. While no assurances can be made regarding the timing of a return to the redemption plan limits stated in the existing share redemption plan, if at all, the Company is targeting to return to the limits under the Amended Share Redemption Program to occur in the third quarter of 2021. In addition, as of December 31, 2020, CIM Income NAV Management owned 13,333 D Shares. Pursuant to the Company’s charter, CIM Income NAV Management is prohibited from selling these shares, which represents the initial investment in the Company, for so long as the CCO Group remains the Company’s sponsor; provided, however, that CIM Income NAV Management could transfer ownership of all or a portion of such shares to other affiliates of the Company’s sponsor. The Company intends to fund share redemptions with available cash, proceeds from our liquid investments and proceeds from the sale of additional shares. The Company may, after taking interests as a whole and the interests of its remaining stockholders into consideration, use proceeds from any available sources at the Company’s disposal to satisfy redemption requests, including, but not limited to, proceeds from sales of additional shares, excess cash flow from operations, sales of liquid investments, incurrence of indebtedness and, if necessary, proceeds from the disposition of real estate properties or real estate related assets. In an effort to have adequate cash available to support our share redemption plan, CIM Income NAV Management may determine to reserve borrowing capacity under our line of credit. CIM Income NAV Management could then elect to borrow against the line of credit in part to redeem shares presented for redemption during periods when the Company does not have sufficient proceeds from the sale of shares in the Offering to fund all redemption requests. As of December 31, 2020, the quarterly redemption capacity was equal to 2% of the Company’s NAV and this amount was recorded as redeemable common stock on the consolidated balance sheet for a total of $10.0 million . Du ring the year ended December 31, 2020, the Company received redemption requests of approximate ly 11.3 million shares of our common stock for $188.4 million in excess of our redemption limit. During the year ended December 31, 2020, the Company received valid redemption requests under our Amended Share Redemption Program totaling app roximately 16.8 million shares, of which we redeemed approximately 5.4 million shares as of December 31, 2020 for $93.6 million at an average redemption price of $17.31 per share and 126,000 shares subsequent to December 31, 2020 for $2.1 million at an average redemption price of $16.67. The remaining redemption requests relating to approximately 11.3 million shares went unfulfilled. A valid redemption request is one that complies with the applicable requirements and guidelines of our current share redemption pro gram then in effect . Distributions Payable and Distribution Policy On July 23, 2020, the Board authorized a year-end distribution (the “Year-End Distribution”) of $0.0839 per share of our D Shares, T Shares, S Shares and I Shares, which amount will be adjusted based on the relative NAV of our D Shares, T Shares, S Shares and I Shares so that distributions constitute a uniform percentage of the NAV per share of all classes. The Year-End Distribution is payable to stockholders of record as of the close of business on December 30, 2020 and was paid in January 2021 upon a determination by the Company’s chief financial officer that as of the payment date of the Year-End Distribution, the Company was able to pay its debts as they become due in the usual course of business and its assets were not less than the sum of its total liabilities. The Year-End Distribution was paid in cash or reinvested in shares of the Company’s common stock for stockholders participating in the distribution reinvestment plan. The Year-End Distribution was paid in addition to the distribution authorized by the Board for the month of December 2020. Equity-Based Compensation On August 9, 2018, the Board approved the adoption of the Company’s 2018 Equity Incentive Plan (the “Plan”), under which 400,000 of the Company’s common shares were reserved for issuance and share awards of 378,000 are available for future grant as of December 31, 2020. As of December 31, 2020, the Company has granted awards of approximately 5,600 restricted D Shares to each of the independent members of the Board (approximately 22,400 restricted shares in aggregate) under the Plan. As of December 31, 2020, 14,600 of the restricted D Shares had vested based on one year of continuous service. The remaining 7,800 shares issued had not been forfeited as of December 31, 2020. The fair value of the Company’s share awards is determined using the Company’s NAV per share on the date of grant. Compensation expense related to these restricted D Shares is recognized over the vesting period. The Company recorded compensation expense of $131,000 for both the years ended December 31, 2020 and 2019 related to these restricted D Shares, which is included in general and administrative expenses in the accompanying consolidated statements of operations. As of December 31, 2020 , there was $99,000 of total unrecognized compensation expense related to the restricted D Shares issued in 2020, which will be recognized ratably over the remaining period of service prior to October 1, 2021. The Board determined 50% of the Company’s independent directors’ quarterly compensation payments for the third quarter of 2020 through the first quarter of 2021 will be paid in D Shares based on the then current NAV per share at the time of issuance. As of December 31, 2020, the Company has granted awards of approximately 725 unrestricted D Shares to each of the independent members of the Board (approximately 2,900 unrestricted shares in aggregate). The Company recorded compensation expense of $49,000 for the year ended December 31, 2020 related to these unrestricted D Shares, which is included in general and administrative expenses in the accompanying consolidated statements of operations.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES For federal income tax purposes, distributions to stockholders are characterized as ordinary dividends, capital gain distributions, or nondividend distributions. Nondividend distributions will reduce U.S stockholders’ basis (but not below zero) in their shares. The following table shows the character of the distributions the Company paid on a percentage basis for the years ended December 31, 2020, 2019, and 2018: Year Ended December 31, Character of Distributions: 2020 2019 2018 Ordinary dividends 26.9 % 38.9 % 52.4 % Nondividend distributions 71.3 % 43.1 % 47.6 % Capital gain distributions 1.8 % 18.0 % — % Total 100 % 100 % 100 % During the years ended December 31, 2020, 2019 and 2018, the Company incurred state and local income and franchise taxes of $152,000 , $214,000 and $182,000, respectively, which were recorded in general and administrative expenses on the consolidated statements of operations. The Company had no unrecognized tax benefits as of or during the years ended December 31, 2020, 2019 and 2018. Any interest and penalties related to unrecognized tax benefits would be recognized within the provision for income taxes in the accompanying consolidated statements of operations. The Company files income tax returns in the U.S. federal jurisdiction, as well as various state jurisdictions, and is subject to routine examinations by the respective tax authorities.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
LEASES	LEASESThe Company’s real estate assets are leased to tenants under operating leases for which the terms, expirations and extension options vary. The Company’s operating leases do not convey to the lessee the right to purchase the underlying asset upon expiration of the lease period. To determine whether a contract contains a lease, the Company reviews contracts to determine if the agreement conveys the right to control the use of an asset. The Company accounts for lease and non-lease components as a single, combined operating lease component. Non-lease components primarily consist of maintenance services, including CAM, real estate taxes, insurance and utilities paid for by the lessor but consumed by the lessee. Non-lease components are considered to be variable rental and other property income and are recognized in the period incurred. As of December 31, 2020, the Company’s leases had a weighted-average remaining term of 9.8 years . Certain leases include provisions to extend the lease agreements, options for early termination after paying a specified penalty, rights of first refusal to purchase the property at competitive market rates, and other negotiated terms and conditions. The Company retains substantially all of the risks and benefits of ownership of the real estate assets leased to tenants. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. As of December 31, 2020, the future minimum rental income from the Company’s real estate assets under non-cancelable operating leases, assuming no exercise of renewal options for the succeeding five fiscal years and thereafter, was as follows (in thousands): Year Ending December 31, Future Minimum Rental Income 2021 $ 62,374 2022 62,697 2023 62,710 2024 61,318 2025 57,480 Thereafter 335,208 Total $ 641,787 A certain amount of the Company’s rental and other property income is from tenants with leases which are subject to contingent rent provisions. These contingent rents are subject to the tenant achieving periodic revenues in excess of specified levels. For the years ended December 31, 2020 and 2019, the amount of the contingent rent earned by the Company was not significant. Rental and other property income during the years ended December 31, 2020, 2019 and 2018 consisted of the following (in thousands): Year Ended December 31, 2020 2019 2018 Fixed rental and other property income (1) $ 63,782 $ 68,815 $ 63,669 Variable rental and other property income (2) 8,814 8,791 7,109 Total rental and other property income $ 72,596 $ 77,606 $ 70,778 ______________________ (1) Consists primarily of fixed contractual payments from operating leases with tenants recognized on a straight-line basis over the lease term, including amortization of acquired above- and below-market leases, and is net of uncollectible lease related receivables.

QUARTERLY RESULTS (UNAUDITED)

QUARTERLY RESULTS (UNAUDITED)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY RESULTS (UNAUDITED)	QUARTERLY RESULTS (UNAUDITED) Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2020 and 2019 (in thousands, except for per share amounts). In the opinion of management, the information for the interim periods presented includes all adjustments, which are of a normal and recurring nature, necessary to present a fair presentation of the results for each period. December 31, 2020 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 18,678 $ 17,236 $ 18,875 $ 18,152 Net (loss) income $ (3,510) $ (11,292) $ 1,729 $ 2,062 Net (loss) income attributable to the Company $ (3,514) $ (11,301) $ 1,721 $ 2,051 Basic and diluted net (loss) income per share - Class D common stock (1) $ (0.10) $ (0.36) $ 0.06 $ 0.07 Basic and diluted net (loss) income per share - Class T common stock (1) $ (0.11) $ (0.36) $ 0.05 $ 0.06 Basic and diluted net (loss) income per share - Class S common stock (1) $ (0.07) $ (0.51) $ 0.10 $ 0.02 Basic and diluted net (loss) income per share - Class I common stock (1) $ (0.10) $ (0.35) $ 0.06 $ 0.08 ____________________________________ (1) The Company calculates net (loss) income per share based on the weighted-average number of outstanding shares of common stock during the reporting period. The average number of shares fluctuates throughout the year and can therefore produce a full year result that does not agree to the sum of the individual quarters. December 31, 2019 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 19,541 $ 19,288 $ 19,350 $ 19,633 Net income $ 1,636 $ 5,453 $ 7,678 $ 24 Net income attributable to the Company $ 1,627 $ 5,445 $ 7,669 $ 9 Basic and diluted net income per share - Class D common stock (1) $ 0.05 $ 0.16 $ 0.23 $ — Basic and diluted net income per share - Class T common stock (1) $ 0.05 $ 0.16 $ 0.22 $ — Basic and diluted net income per share - Class S common stock (1), (2) $ — $ — $ — $ 0.10 Basic and diluted net income per share - Class I common stock (1) $ 0.05 $ 0.17 $ 0.23 $ 0.01 ____________________________________ (1) The Company calculates net income per share based on the weighted-average number of outstanding shares of common stock during the reporting period. The average number of shares fluctuates throughout the year and can therefore produce a full year result that does not agree to the sum of the individual quarters. (2) The Company did not issue any Class S Shares prior to October 10, 2019.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Disposition of Real Estate Assets Subsequent to December 31, 2020, the Company disposed of one property for an aggregate gross sales price of $1.1 million, resulting in net proceeds of $1.0 million after closing costs, and a gain of $10,000. No disposition fees were paid to CIM Income NAV Management or its affiliates in connection with the sale of this property and the Company has no continuing involvement with this property.

SCHEDULE III _ REAL ESTATE ASSE

SCHEDULE III – REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
SCHEDULE III - REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION	Gross Amount at Which Initial Costs to Company Total Carried At Accumulated Buildings & Adjustment December 31, 2020 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) (f) (g) Acquired Constructed Real Estate Held for Investment: 24 Hour Fitness Orlando, FL (f) $ 2,528 $ 7,272 $ (5,725) $ 4,075 $ 42 2/5/2019 2018 AAA Office Park Hamilton, NJ (f) 3,254 25,221 — 28,475 2,468 3/22/2018 2007 Advance Auto Macomb Township, MI (f) 718 1,146 — 1,864 280 12/20/2011 2009 Ravenswood, WV (f) 150 645 (137) 658 14 6/17/2015 1996 Sedalia, MO (f) 374 1,187 — 1,561 236 9/23/2013 2013 AK Steel West Chester, OH (f) 1,028 19,914 — 20,942 1,925 4/30/2018 2007 Amcor Rigid Plastics Ames, IA $8,300 775 12,179 — 12,954 1,916 9/19/2014 1996 Apex Technologies Mason, OH (f) 997 11,657 — 12,654 1,111 12/19/2017 1999 AutoZone Vandalia, OH 532 778 — — 778 — 10/10/2014 2014 Bank of America Fairview Park, OH (f) 646 830 — 1,476 155 10/10/2014 2014 BioLife Plasma Services Fort Wayne, IN 691 2,662 — 3,353 324 12/16/2016 2007 Moorhead, MN 727 3,109 — 3,836 365 12/16/2016 2008 Bob Evans Defiance, OH (f) 391 1,674 — 2,065 217 4/28/2017 2011 Dover, OH (f) 362 1,495 — 1,857 189 4/28/2017 2008 Dundee, MI (f) 403 1,438 — 1,841 172 4/28/2017 2000 Hamilton, OH (f) 393 1,305 — 1,698 168 4/28/2017 1997 Hummelstown, PA (f) 1,184 1,165 — 2,349 133 4/28/2017 1994 Mayfield Heights, OH (f) 721 919 — 1,640 119 4/28/2017 2003 Burger King Midwest City, OK 765 576 413 — 989 66 9/30/2014 2015 Caliber Collision Houston, TX (f) 466 4,929 — 5,395 603 8/11/2016 2016 San Antonio, TX (f) 196 2,918 — 3,114 330 1/19/2017 1963 Venice, FL (f) 857 2,662 — 3,519 330 8/12/2016 2015 CarMax Tinley Park, IL 15,800 3,282 21,974 — 25,256 2,261 6/27/2017 1998 Carrier Rental Systems Houston, TX 2,800 749 3,832 — 4,581 619 9/4/2014 2006 Cottage Plaza Pawtucket, RI (f) 5,431 15,582 8 21,021 1,707 6/29/2017 2004 CVS Austin, TX 1,830 1,417 1,579 81 3,077 377 12/8/2011 1997 Erie, PA (f) 1,007 1,157 63 2,227 271 12/9/2011 1999 Mansfield, OH (f) 270 1,691 81 2,042 396 12/9/2011 1998 Wisconsin Rapids, WA 1,790 517 2,148 — 2,665 391 12/13/2013 2013 DaVita Dialysis Austell, GA (f) 581 2,359 — 2,940 403 5/6/2014 2009 Gross Amount at Which Initial Costs to Company Total Carried At Accumulated Buildings & Adjustment December 31, 2020 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) (f) (g) Acquired Constructed Dollar General Erie, IL (f) $ 67 $ 974 $ — $ 1,041 $ 119 6/30/2016 2016 Gladwin, MI $780 121 1,119 — 1,240 209 1/24/2014 2013 Glasford, IL (f) 167 904 — 1,071 111 6/24/2016 2016 Independence, MO 837 276 1,017 — 1,293 213 3/15/2013 2012 Lexington, MI 707 89 1,033 — 1,122 194 1/24/2014 2013 New Richland, MN (f) 173 900 — 1,073 111 6/24/2016 2016 Ocala, FL (f) 205 1,308 — 1,513 225 5/7/2014 2013 Pine River, MN (f) 230 872 — 1,102 111 4/8/2016 2016 Redfield, SD (f) 43 839 — 882 145 9/5/2014 2014 Stacy, MN 658 84 810 — 894 127 11/6/2014 2014 Starbuck, MN (f) 76 946 — 1,022 120 4/15/2016 2016 St. Joseph, MO (f) 197 972 — 1,169 202 4/2/2013 2013 Topeka, KS 794 176 882 — 1,058 150 10/22/2014 2014 Trimble, MO (f) 212 802 — 1,014 96 6/30/2016 2016 Wheaton, MN (f) 134 874 — 1,008 111 4/22/2016 2016 Winthrop, MN (f) 130 876 — 1,006 112 4/8/2016 2016 Duluth Trading Arlington, TX (f) 1,123 3,859 — 4,982 291 8/16/2018 2018 Wichita, KS 1,252 3,405 — 4,657 163 5/17/2019 2019 Enid Crossing Enid, OK 3,407 685 4,426 515 5,626 938 6/30/2014 2013 Family Dollar Centreville, AL (f) 50 1,122 — 1,172 196 4/29/2014 2013 Danville, VA (f) 228 774 — 1,002 166 6/17/2014 2013 Darby, MT 881 244 889 — 1,133 159 9/30/2014 2014 Denton, NC (f) 334 545 — 879 109 6/17/2014 2012 Deridder, LA (f) 183 746 — 929 157 9/3/2014 2014 Hampton, AR 651 131 741 — 872 163 9/15/2014 2014 Londonderry, OH (f) 65 1,078 — 1,143 214 9/3/2014 2014 Tatum, NM 700 130 805 — 935 158 3/31/2014 2014 West Portsmouth, OH (f) 214 768 — 982 130 9/23/2014 2004 FedEx Elko, NV (f) 186 2,024 — 2,210 402 5/28/2013 2012 Spirit Lake, IA (f) 115 2,501 — 2,616 467 12/12/2013 2013 Fresh Thyme Indianapolis, IN 4,470 1,074 7,452 — 8,526 798 9/26/2017 2016 Worthington, OH (f) 2,648 6,498 — 9,146 763 8/9/2016 2015 H&E Equipment Services Albuquerque, NM (f) 1,211 4,278 — 5,489 521 6/19/2018 2016 Fort Myers, FL (f) 735 3,963 — 4,698 368 6/19/2018 2016 Suwanee, GA (f) 1,020 3,505 — 4,525 288 6/19/2018 2016 Hobby Lobby Cadillac, MI (f) 480 4,382 — 4,862 363 6/22/2018 2017 Sedalia, MO (f) 478 3,976 — 4,454 319 3/15/2018 2016 Watertown, SD (f) 565 4,252 — 4,817 370 2/22/2018 2016 Willmar, MN (f) 1,289 3,721 — 5,010 346 2/22/2018 2017 Jewel-Osco Spring Grove, IL (f) 739 9,530 — 10,269 584 11/14/2018 2007 Wood Dale, IL (f) 3,368 6,146 — 9,514 375 11/14/2018 1995 Jo-Ann's Roseville, MI (f) 506 2,747 200 3,453 630 9/30/2013 2013 Kloeckner University Park, IL (f) 816 11,887 — 12,703 748 11/7/2018 2016 Gross Amount at Which Initial Costs to Company Total Carried At Accumulated Buildings & Adjustment December 31, 2020 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) (f) (g) Acquired Constructed Kum & Go Cedar Rapids, IA $1,501 $ 630 $ 1,679 $ — $ 2,309 $ 342 5/3/2013 2011 LA Fitness Pawtucket, RI (f) 5,556 7,071 — 12,627 1,220 10/11/2016 2015 Rock Hill, SC (f) 630 7,858 — 8,488 917 4/6/2017 2015 Levin Furniture Monroeville, PA (f) 1,023 9,607 — 10,630 841 11/22/2017 Lowe's Fremont, OH 5,312 1,287 7,125 278 8,690 1,576 12/11/2013 1996 North Dartmouth, MA (f) 7,334 11,976 — 19,310 1,682 1/4/2017 2004 Marshalls Wilkesboro, NC (f) 968 1,775 155 2,898 231 10/20/2016 1999 Mattress Firm Gadsden, AL (f) 393 1,413 — 1,806 282 6/10/2013 2012 Mattress Firm & Panera Bread Elyria, OH (f) 1,100 2,836 — 3,936 416 4/7/2016 2015 Mister Carwash Hudson, FL (f) 1,014 843 — 1,857 91 10/19/2016 2007 Spring Hill, FL (f) 961 1,156 — 2,117 124 10/19/2016 2008 National Tire & Battery Conyers, GA 1,657 522 1,845 — 2,367 307 9/26/2014 1995 Natural Grocers Prescott, AZ 2,367 795 2,802 — 3,597 626 5/6/2013 2012 North Lake Square Gainesville, GA 13,365 1,318 22,598 — 23,916 2,277 7/26/2017 2015 Northern Tool Hoover, AK (f) 691 2,150 — 2,841 375 8/15/2014 2014 O'Reilly Auto Parts Decatur, GA (f) 491 985 — 1,476 111 9/12/2016 2007 Fayetteville, NC (f) 132 1,246 — 1,378 213 3/18/2014 2012 PetSmart Lexington, NC (f) 605 3,162 — 3,767 406 1/27/2017 2016 McAllen, TX 2,924 1,961 1,994 — 3,955 516 9/30/2014 1995 Procter & Gamble Fayetteville, AR (f) 1,757 8,663 485 10,905 757 4/2/2018 2006 Raising Canes Avondale, AZ (f) 1,435 1,857 — 3,292 308 5/23/2014 2013 Republic Services Scottsdale, AZ 10,961 32,089 3,644 46,694 1,726 8/16/2019 1999 Sam's Club Timonium, MD 9,150 6,194 11,042 — 17,236 1,732 11/28/2016 2000 Sherwin-Williams Pigeon Forge, TN (f) 392 661 — 1,053 75 11/1/2016 2015 Sleepy's Roanoke Rapids, NC (f) 238 1,267 — 1,505 180 8/17/2015 2015 Steinhafels Madison, WI 3,257 11,607 — 14,864 531 5/1/2019 1994 SuperValu Oglesby, IL (f) 1,190 14,098 — 15,288 897 7/23/2018 1996 Tailwinds Denton, TX (f) 884 7,747 — 8,631 1,232 9/30/2014 2013 Tellico Greens Loudon, TN 3,000 823 3,959 — 4,782 727 12/20/2013 2008 Gross Amount at Which Initial Costs to Company Total Carried At Accumulated Buildings & Adjustment December 31, 2020 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) (f) (g) Acquired Constructed Tempe Commerce Tempe, AZ (f) $ 1,975 $ 12,512 $ 383 $ 14,870 $ 1,292 12/22/2017 1998 Tempe, AZ (f) 1,872 10,758 — 12,630 823 9/17/2018 1998 Teradata Miami Township, OH (f) 1,161 9,181 — 10,342 1,223 12/12/2016 2010 The Toro Company Windom, MN (f) 73 8,708 — 8,781 1,030 5/19/2016 2016 Time Warner Streetsboro, OH $3,543 811 3,849 — 4,660 639 9/30/2014 2003 Tire Centers Decatur, AL 1,311 208 1,329 — 1,537 233 10/3/2014 1998 Title Resource Group Mt. Laurel, NJ (f) 2,188 12,380 — 14,568 2,526 11/24/2015 2004 TJ Maxx Danville, IL (f) 271 2,528 — 2,799 579 9/23/2013 2013 Triangle Town Place Raleigh, NC 16,400 4,694 23,044 (2,953) 24,785 266 12/15/2016 2004 Valeo North American HQ Troy, MI (f) 1,564 11,662 — 13,226 1,286 2/9/2018 2000 Valeo Production Facility East Liberty, OH (f) 268 5,564 — 5,832 557 6/2/2017 2016 Valvoline HQ Lexington, KY (f) 5,204 31,112 — 36,316 2,932 3/1/2018 2017 Vacant Nephi, UT (f) 180 2,872 (3,052) — — 3/4/2016 2015 Richmond, VA (f) 785 688 — 1,473 80 4/28/2017 1990 York, PA (f) 1,720 6,628 (4,857) 3,491 61 11/22/2017 1978 Walgreens Coweta, OK 2,600 725 3,246 — 3,971 533 6/30/2014 2009 Reidsville, NC 3,603 610 3,801 — 4,411 887 12/8/2011 2008 St. Louis, MO 2,534 307 3,205 — 3,512 514 8/8/2014 2007 Walmart Randallstown, MD 14,250 7,748 22,021 — 29,769 2,479 5/17/2017 2012 Weasler Engineering West Bend, WI (f) 600 12,732 — 13,332 833 6/22/2018 1957 West Marine Mystic, CT (f) 1,168 3,132 — 4,300 466 9/11/2015 2014 $129,219 $ 142,392 $ 640,273 $ (10,831) $ 771,834 $ 70,087 ____________________________________ (a) As of December 31, 2020, the Company owned 97 retail, four anchored shopping centers, 11 industrial and distribution and 11 office properties. (b) Consists of capital expenditures and real estate development costs, and impairment charges. (c) Gross intangible lease assets of $106.7 million and the associated accumulated amortization of $31.9 million are not reflected in the table above. (d) The aggregate cost for federal income tax purposes was approximately $790.9 million. (e) The following is a reconciliation of total real estate carrying value for the years ended December 31: 2020 2019 2018 Balance, beginning of period $ 801,581 $ 798,969 $ 618,085 Additions Acquisitions — 72,371 221,951 Improvements 2,388 2,751 472 Total additions $ 2,388 $ 75,122 $ 222,423 Deductions Dispositions (16,635) (68,722) (39,272) Impairments (14,486) (3,788) (2,267) Reclassified to assets held for sale (1,014) — — Total deductions $ (32,135) $ (72,510) $ (41,539) Balance, end of period $ 771,834 $ 801,581 $ 798,969 (f) The following is a reconciliation of accumulated depreciation for the years ended December 31: 2020 2019 2018 Balance, beginning of period $ 54,794 $ 41,645 $ 26,073 Additions Acquisitions - depreciation expense 18,219 18,468 17,099 Improvements - depreciation expense 1,780 1,769 1,327 Total additions $ 19,999 $ 20,237 $ 18,426 Deductions Impairments (2,983) (1,230) — Dispositions (1,718) (5,858) (2,854) Reclassified to assets held for sale (5) — — Total deductions $ (4,706) $ (7,088) $ (2,854) Balance, end of period $ 70,087 $ 54,794 $ 41,645 (g) The Company’s assets are depreciated or amortized using the straight-line method over the useful lives of the assets by class. Generally, buildings are depreciated over 40 years, site improvements are amortized over 15 years, and tenant improvements are amortized over the remaining life of the lease or the useful life, whichever is shorter. (h) Part of the Credit Facility’s Borrowing Base. As of December 31, 2020, the Company had $321.5 million outstanding under the Credit Facility.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	The accompanying consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries and the Consolidated Joint Venture in which the Company has a controlling financial interest. All intercompany balances and transactions have been eliminated in consolidation.
Noncontrolling Interest in Consolidated Joint Venture	The Company evaluates its relationships and investments to determine if it has variable interests. A variable interest is an investment or other interest that will absorb portions of an entity’s expected losses or receive portions of the entity’s expected residual returns. If the Company determines that it has a variable interest in an entity, it evaluates whether such interest is in a variable interest entity (“VIE”). VIEs are entities where investors lack sufficient equity at risk for the entity to finance its activities without additional subordinated financial support or where equity investors, as a group, lack one of the following characteristics: (a) the power to direct the activities that most significantly impact the entity’s economic performance, (b) the obligation to absorb the expected losses of the entity, or (c) the right to receive the expected returns of the entity. The Company consolidates any VIEs when it is determined to be the primary beneficiary of the VIE’s operations. For legal entities being evaluated for consolidation, the Company must first determine whether the interests that it holds and fees it receives qualify as variable interests in the entity. A variable interest is an investment or other interest that will absorb portions of an entity’s expected losses or receive portions of the entity’s expected residual returns. The Company’s evaluation includes consideration of fees paid to the Company where the Company acts as a decision maker or service provider to the entity being evaluated. If the Company determines that it holds a variable interest in an entity, it evaluates whether that entity is a VIE. A VIE must be consolidated by its primary beneficiary, which is generally defined as the party who has a controlling financial interest in the VIE. The Company qualitatively assesses whether it is (or is not) the primary beneficiary of a VIE. Consideration of various factors include, but are not limited to, the Company’s ability to direct the activities that most significantly impact the entity’s economic performance and its obligation to absorb losses from or right to receive benefits of the VIE that could potentially be significant to the VIE. The Company consolidates any VIEs when the Company is determined to be the primary beneficiary of the VIE, and the difference between consolidating the VIE and accounting for it using the equity method could be material to the Company’s consolidated financial statements. The Company continually evaluates the need to consolidate any VIEs based on standards set forth in GAAP as described above. As of December 31, 2020 and 2019,
Reclassifications	Reclassifications The Company is separately presenting the write-off of uncollectable lease-related receivables of $2,000 for the year ended December 31, 2019, which was previously included in straight-line rental income, net in the consolidated statements of cash flows. This reclassification had no effect on previously reported totals or subtotals.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Real Estate Assets, Recoverability of Real Estate Assets, Assets Held for Sale and Disposition of Real Estate Assets	Real Estate Assets Real estate assets are stated at cost, less accumulated depreciation and amortization. The Company considers the period of future benefit of each respective asset to determine the appropriate useful life. The estimated useful lives of the Company’s real estate assets by class are generally as follows: Buildings 40 years Site improvements 15 years Tenant improvements Lesser of useful life or lease term Intangible lease assets Lease term Recoverability of Real Estate Assets periods for assets change, subsequent tests for impairment could result in additional impairment charges in the future. The Company cannot provide any assurance that additional material impairment charges with respect to the Company’s real estate assets will not occur during 2021 or in future periods Disposition of Real Estate Assets Gains and losses from dispositions are recognized once the various criteria relating to the terms of sale and any subsequent involvement by the Company with the asset sold are met. A discontinued operation includes only the disposal of a component of an entity and represents a strategic shift that has (or will have) a major effect on an entity’s financial results. The Company’s property dispositions during the years ended December 31, 2020 and 2019 did not qualify for discontinued operations presentation, and thus, the results of the properties that have been sold remain in operating income, and any associated gains or losses from the disposition are included in gain on disposition of real estate, net.
Allocation of Purchase Price of Real Estate Assets	Allocation of Purchase Price of Real Estate Assets Upon the acquisition of real properties, the Company allocates the purchase price to acquired tangible assets, consisting of land, buildings and improvements, and to identified intangible assets and liabilities, consisting of the value of above- and below-market leases and the value of in-place leases and other intangibles, based in each case on their respective fair values. The Company utilizes independent appraisals to assist in the determination of the fair values of the tangible assets of an acquired property (which includes land and buildings). The information in the appraisal, along with any additional information available to the Company’s management, is used in estimating the amount of the purchase price that is allocated to land. Other information in the appraisal, such as building value and market rents, may be used by the Company’s management in estimating the allocation of purchase price to the building and to intangible lease assets and liabilities. The appraisal firm has no involvement in management’s allocation decisions other than providing this market information. The fair values of above- and below-market lease intangibles are recorded based on the present value (using a discount rate which reflects the risks associated with the leases acquired) of the difference between (1) the contractual amounts to be paid pursuant to the in-place leases and (2) an estimate of fair market lease rates for the corresponding in-place leases, which is generally obtained from independent appraisals, measured over a period equal to the remaining non-cancelable term of the lease including, for below-market leases, any bargain renewal periods. The above- and below-market lease intangibles are capitalized as intangible lease assets or liabilities, respectively. Above-market leases are amortized as a reduction to rental income over the remaining terms of the respective leases. Below-market leases are amortized as an increase to rental income over the remaining terms of the respective leases, including any bargain renewal periods. In considering whether or not the Company expects a tenant to execute a bargain renewal option, the Company evaluates economic factors and certain qualitative factors at the time of acquisition, such as the financial strength of the tenant, the remaining lease term, the tenant mix of the leased property, the Company’s relationship with the tenant and the availability of competing tenant space. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of above- or below-market lease intangibles relating to that lease would be recorded as an adjustment to rental income. The fair values of in-place leases include estimates of direct costs associated with obtaining a new tenant and opportunity costs associated with lost rental and other property income which are avoided by acquiring a property with an in-place lease. Direct costs associated with obtaining a new tenant include leasing commissions, legal and other related expenses and are estimated in part by utilizing information obtained from independent appraisals and management’s consideration of current market costs to execute a similar lease. The intangible values of opportunity costs, which are calculated using the contractual amounts to be paid pursuant to the in-place leases over a market absorption period for a similar lease, are capitalized as intangible lease assets and are amortized to expense over the remaining term of the respective leases. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of in-place lease assets relating to that lease would be expensed. The Company may acquire certain properties subject to contingent consideration arrangements that may obligate the Company to pay additional consideration to the seller based on the outcome of future events. Additionally, the Company may acquire certain properties for which it funds certain contingent consideration amounts into an escrow account pending the outcome of certain future events. The outcome may result in the release of all or a portion of the escrow funds to the Company or the seller or a combination thereof. The determination of the amount of contingent consideration arrangements is based on the probability of several possible outcomes as identified by management. The Company estimates the fair value of assumed mortgage notes payable based upon indications of current market pricing for similar types of debt financing with similar maturities. Assumed mortgage notes payable will initially be recorded at their estimated fair value as of the assumption date, and any difference between such estimated fair value and the mortgage note’s outstanding principal balance will be amortized or accreted to interest expense over the term of the respective mortgage note payable.
Investment in Marketable Securities	Investment in Marketable Securities Investment in marketable securities consists primarily of the Company ’ s investment in corporate and government debt securities. The Company determines the appropriate classification for debt securities at the time of purchase and reevaluates such designation as of each balance sheet date. As of December 31, 2020, the Company classified its investments as available-for-sale as the Company is not actively trading the securities; however, the Company may sell them prior to their maturity. These investments are carried at their estimated fair value with unrealized gains and losses reported in other comprehensive (loss) income . The Company adopted Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments - Credit Losses (Topic 326) (“ASU 2016-13”), as further described in “Recent Accounting Pronouncements,” on January 1, 2020. The Company monitors its available-for-sale securities for impairments. A loss is recognized when the Company determines that a decline in the estimated fair value of a security below its amortized cost has resulted from a credit loss or other factors. The Company records impairments related to credit losses through an allowance for credit losses. However, the allowance is limited by the amount that the fair value is less than the amortized cost basis. The Company considers many factors in determining whether a credit loss exists, including, but not limited to, the extent to which the fair value is less than the amortized cost basis, recent events specific to the security, industry or geographic area, the payment structure of the security, the failure of the issuer of the security to make scheduled interest or principal payments, and external credit ratings and recent changes in such ratings. The analysis of determining whether a credit loss exists requires significant judgments and assumptions. The use of alternative judgments and assumptions could result in a different conclusion. The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity computed under the effective interest method and is recorded in the accompanying consolidated statements of operations in interest and other expense, net. Upon the sale of a security, the realized net gain or loss is computed on the specific identification method.
Investment in CIM UII Onshore	Investment in CIM UII OnshoreThe Company accounts for its investment under the equity method. The equity method of accounting requires the investment to be initially recorded at cost, including transaction costs incurred to finalize the investment, and subsequently adjusted for the Company’s share of equity in CIM UII Onshore’s earnings and distributions. The Company records its share of CIM UII Onshore’s profits or losses on a quarterly basis as an adjustment to the carrying value of the investment on the Company’s consolidated balance sheet and is recognized as a profit or loss on the consolidated statements of operations. The Company recorded its share of loss of $2.7 million during the year ended December 31, 2020, in the consolidated statements of operations
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents and Restricted Cash Cash and cash equivalents include cash in bank accounts, as well as investments in highly-liquid money market funds. The Company deposits cash with several high quality financial institutions. These deposits are guaranteed by the Federal Deposit Insurance Company (“FDIC”) up to an insurance limit of $250,000. At times, the Company’s cash and cash equivalents may
Deferred Financing Costs	Deferred Financing CostsDeferred financing costs represent commitment fees, legal fees and other costs associated with obtaining commitments for financing. These costs are amortized to interest expense over the terms of the respective financing agreements using the straight-line method, which approximates the effective interest method. Unamortized deferred financing costs are written off when the associated debt is extinguished or repaid prior to maturity. The presentation of all deferred financing costs, other than those associated with the revolving loan portion of the credit facility, are classified such that the debt issuance costs related to a recognized debt liability are presented on the consolidated balance sheets as a direct deduction from the carrying amount of the related debt liability rather than as an asset. Debt issuance costs related to securing a revolving line of credit are presented as an asset and amortized ratably over the term of the line of credit arrangement. As such, the Company’s current and corresponding prior period total deferred financing costs, net in the accompanying consolidated balance sheets relate only to the revolving loan portion of the credit facility and the historical presentation, amortization and treatment of unamortized costs are still applicable.Costs incurred in seeking financing transactions that do not close are expensed in the period in which it is determined the financing will not close.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities The Company accounts for its derivative instruments at fair value. Accounting for changes in the fair value of a derivative instrument depends on the intended use of the derivative instrument and the designation of the derivative instrument. The change in fair value of the derivative instrument that is designated as a cash flow hedge is recorded as other comprehensive loss. The changes in fair value for derivative instruments that are not designated as hedges or that do not meet the hedge accounting criteria are recorded as a gain or loss to operations.
Due to Affiliates	Due to AffiliatesCIM Income NAV Management and certain of its affiliates received, and will continue to receive, fees, reimbursements and compensation in connection with services provided relating to the Offering and the acquisition, management and performance of the Company’s assets.
Redeemable Common Stock	Redeemable Common Stock The Company has adopted a share redemption program that permits its stockholders to redeem their shares, subject to certain limitations discussed in Note 14 — Stockholders’ Equity to these consolidated financial statements. The Company records the maximum amount that is redeemable under the share redemption program as redeemable common stock outside of permanent equity on its consolidated balance sheets. Redeemable common stock is recorded at the greater of the carrying amount or redemption value each reporting period. Changes in the value from period to period are recorded as an adjustment to capital in excess of par value.
Stockholder Servicing Fee	Stockholder Servicing Fees The Company pays CCO Capital stockholder servicing fees, which are calculated on a daily basis in the amount of 1/365th of 0.25%, 0.85% and 0.85% of the NAV per share, respectively, for each class of common stock outstanding for D Shares, T Shares and S Shares, respectively. The Company does not pay a stockholder servicing fee with respect to I Shares.
Leases	Leases The Company has lease agreements with lease and non-lease components. The Company has elected to not separate non-lease components from lease components for all classes of underlying assets (primarily real estate assets) and will account for the combined components as rental and other property income. Non-lease components included in rental and other property income include certain tenant reimbursements for maintenance services (including common-area maintenance services or “CAM”), real estate taxes, insurance and utilities paid for by the lessor but consumed by the lessee. As a lessor, the Company has further determined that this policy will be effective only on a lease that has been classified as an operating lease and the revenue recognition pattern and timing is the same for both types of components. The Company is not party to any material leases where it is the lessee. Significant judgments and assumptions are inherent in not only determining if a contract contains a lease, but also the lease classification, terms, payments, and, if needed, discount rates. Judgments include the nature of any options, including if they will be exercised, evaluation of implicit discount rates and the assessment and consideration of “fixed” payments for straight-line rent revenue calculations.
Revenue Recognition	Revenue Recognition Rental and other property income is primarily derived from fixed contractual payments from operating leases and, therefore, is generally recognized on a straight-line basis over the term of the lease, which typically begins the date the tenant takes control of the space. When the Company acquires a property, the terms of existing leases are considered to commence as of the acquisition date for the purpose of this calculation. Variable rental and other property income consists primarily of tenant reimbursements for recoverable real estate taxes and operating expenses, which are included in rental and other property income in the period when such costs are incurred, with offsetting expenses in real estate taxes and property operating expenses, respectively, within the consolidated statements of operations. The Company defers the recognition of variable rental and other property income, such as percentage rents, until the specific target that triggers the contingent rental income is achieved. The Company continually reviews whether collection of lease-related receivables, including any straight-line rent, and current and future operating expense reimbursements from tenants are probable. The determination of whether collectability is probable takes into consideration the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. Upon the determination that the collectability of a receivable is not probable, the Company will record a reduction to rental and other property income for amounts previously recorded and a decrease in the outstanding receivable. Revenue from leases where collection is deemed to be not probable is recorded on a cash basis until collectability becomes probable. Management’s estimate of the collectability of lease-related receivables is based on the best information available at the time of estimate. The Company does not use a general reserve approach and lease-related receivables are adjusted and taken against rental and other property income only when collectability becomes not probable. During the year ended December 31, 2020, the Company identified certain tenants where collection was no longer considered probable. For these tenants, the Company made the determination to record revenue on a cash basis and wrote off
Income Taxes	Income Taxes The Company elected to be taxed, and currently qualifies, as a REIT for federal income tax purposes beginning with our taxable year ended December 31, 2012. The Company generally is not subject to federal corporate income tax to the extent it distributes its taxable income to its stockholders, and so long as it, among other things, distributes at least 90% of its annual taxable income (computed without regard to the dividends paid deduction and excluding net capital gains). REITs are subject to a number of other organizational and operational requirements. Even if the Company maintains its qualification for taxation as a REIT, it may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed income.
(Loss) Earnings and Distributions Per Share	(Loss) Earnings and Distributions Per Share The Company has four classes of common stock with nonforfeitable dividend rights that are determined based on a different NAV for each class. Accordingly, the Company utilizes the two-class method to determine its earnings per share, which can result in different earnings per share for each of the classes. Under the two-class method, earnings per share of each class of common stock are computed by dividing the sum of the distributed earnings to common stockholders and undistributed earnings allocated to common stockholders by the weighted average number of shares for each class of common stock for the respective period. Diluted income per share, when applicable, considers the effect of any potentially dilutive share equivalents, of which the Company had none for each of the years ended December 31, 2020, 2019 or 2018. Distributions per share are calculated based on the authorized monthly distribution rate. Prior to April 1, 2020, distributions were calculated based on the authorized daily distribution rate.
Offering and Related Costs	Offering and Related Costs CIM Income NAV Management funds all of the organization and offering costs associated with the sale of the Company’s common stock (excluding upfront selling commissions, dealer manager fees and ongoing stockholder servicing fees) and is reimbursed for such costs up to 0.75% of gross proceeds from the Offering, excluding upfront selling commissions and dealer manager fees, as applicable, charged on D Shares, T Shares and S Shares sold in the Primary Offering. As of December 31, 2020, CIM Income NAV Management, or its affiliates, had paid organization and offering costs in excess of the 0.75% in connection with the Offering. These excess costs were not included in the financial statements of the Company because such costs were not a liability of the Company as they exceeded 0.75% of gross proceeds from the Offering. As the Company raises additional proceeds from the Offering, these excess costs may become payable to CIM Income NAV Management.
Reportable Segments	Reportable SegmentsThe Company’s commercial real estate assets primarily consist of single-tenant, necessity commercial properties, which are leased to creditworthy tenants under long-term net leases and provide current operating cash flow. The commercial properties are geographically diversified throughout the United States and have similar economic characteristics. The Company’s management evaluates operating performance on an overall portfolio level; therefore the Company’s properties are one reportable segment.
Recent Accounting Pronouncements	Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by various standard setting bodies that may have an impact on the Company’s accounting and reporting. Except as otherwise stated below, the Company is currently evaluating the effect that certain new accounting requirements may have on the Company’s accounting and related reporting and disclosures in the Company’s consolidated financial statements. In June 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU 2016-13, which was subsequently amended by ASU No. 2018-19, Codification Improvements to Topic 326, Financial Instruments - Credit Losses (“ASU 2018-19”), in November 2018. Subsequently, the FASB issued ASU No. 2019-04, ASU No. 2019-05, ASU No. 2019-10, ASU No. 2019-11 and ASU No. 2020-02 to provide additional guidance on the credit losses standard. ASU 2016-13 and the related updates are intended to improve financial reporting requiring more timely recognition 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 under current GAAP. ASU 2018-19 clarified that receivables arising from operating leases are not within the scope of Topic 326. Instead, impairment of receivables arising from operating leases should be accounted for in accordance with ASU No. 2016-02, Leases ( Topic 842 ) (“ASC 842”) . ASU 2016-13 and ASU 2018-19 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2019. The Company adopted ASU 2016-13 during the first quarter of fiscal year 2020, and has concluded that there is no material impact on its consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). This ASU amends and removes several disclosure requirements including the valuation processes for Level 3 fair value measurements. ASU 2018-13 also modifies some disclosure requirements and requires additional disclosures for changes in unrealized gains and losses included in other comprehensive income for recurring Level 3 fair value measurements and requires the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The provisions of ASU 2018-13 are effective January 1, 2020 using a prospective transition method for amendments effecting changes in unrealized gains and losses, significant unobservable inputs used to develop Level 3 fair value measurements and narrative description on uncertainty of measurements. The remaining provisions of ASU 2018-13 are to be applied retrospectively, and early adoption is permitted. The Company adopted ASU 2018-13 during the first quarter of fiscal year 2020, and has concluded that there is no material impact on its consolidated financial statements. In October 2018, the FASB issued ASU 2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities (“ASU 2018-17”). The guidance changes the guidance for determining whether a decision-making fee is a variable interest. Under the new ASU, indirect interests held through related parties under common control will now be considered on a proportional basis when determining whether fees paid to decision makers and service providers are variable interests. Such indirect interests were previously treated the same as direct interests. ASU 2018-17 is effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years. The Company adopted ASU 2018-17 during the first quarter of fiscal year 2020, and has concluded that there is no material impact on its consolidated financial statements. In April 2020, the FASB issued a question and answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance to lease concessions provided as a result of the COVID-19 pandemic. Due to the business disruptions and challenges severely affecting the global economy caused by the COVID-19 pandemic, many lessors may be required to provide rent deferrals and other lease concessions to lessees. While the lease modification guidance in ASC 842 addresses routine changes to lease terms resulting from negotiations between the lessee and the lessor, this guidance did not contemplate concessions being so rapidly executed to address the sudden liquidity constraints of some lessees arising from COVID-19 related impacts. Under existing lease guidance, the Company would have to determine, on a lease by lease basis, if a lease concession was the result of a new arrangement reached with the tenant (treated within the lease modification accounting framework) or if a lease concession was under the enforceable rights and obligations within the existing lease agreement (precluded from applying the lease modification accounting framework). The Lease Modification Q&A allows the Company, if certain criteria have been met, to bypass the lease by lease analysis, and instead elect to either apply the lease modification accounting framework or not, with such election applied consistently to leases with similar characteristics and similar circumstances. The Company has elected to apply this guidance to avoid performing a lease by lease analysis for the lease concessions that (1) were granted as relief due to COVID-19 related impacts and (2) result in the cash flows remaining substantially the same or less than the original contract and will account for these lease concessions as if no changes were made to the leases. During the year ended December 31, 2020, the Company provided lease concessions, in the form of rent deferrals or rent abatements, to certain tenants in response to the impact of the COVID-19 pandemic on those tenants. As of December 31, 2020, the Company had granted rent deferrals with an aggregate deferral amount of $539,000. The deferral of rental payments affects the timing, but not the amount, of the lease payments and resulted in an increase of $539,000 to the Company’s lease related receivables balance as of December 31, 2020. Additionally, as of December 31, 2020, the Company had granted rental abatements of $218,000. In addition, the Company entered into lease amendments during the year ended December 31, 2020 that provided for lease concessions, through rent abatements or rent deferrals, that represented substantive changes to the consideration in the original lease. These lease amendments extended the lease periods to 36 months. For these leases, the Company applied the lease modification accounting framework pursuant to ASC 842. As of December 31, 2020, these lease amendments resulted in rent abatements of $400,000. As of March 24, 2021, the Company has collected approximately 99% of rental payments billed to tenants during the three months ended December 31, 2020. In January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848) (“ASU 2021-01”). The amendments in ASU 2021-01 clarify that certain optional expedients and exceptions for contract modifications and hedge accounting apply to derivative instruments that use an interest rate for margining, discounting, or contract price alignment that is modified as a result of the discontinuation of the use of LIBOR as a benchmark interest rate due to reference rate reform. ASU 2021-01 is effective immediately for all entities with the option to apply retrospectively as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, and can be applied prospectively to any new contract modifications made on or after January 7, 2021. The Company currently uses LIBOR as its benchmark interest rate for its derivative instruments, and has not entered into any new contracts on or after the effective date of ASU 2021-01. The Company is evaluating the impact of this ASU’s adoption, and does not believe this ASU will have a material impact on its consolidated financial statements.
Fair Value Measurement	GAAP defines fair value, establishes a framework for measuring fair value and requires disclosures about fair value measurements. GAAP emphasizes that fair value is intended to be a market-based measurement, as opposed to a transaction-specific measurement. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. Depending on the nature of the asset or liability, various techniques and assumptions can be used to estimate the fair value. Assets and liabilities are measured using inputs from three levels of the fair value hierarchy, as follows: Level 1 — Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. An active market is defined as a market in which transactions for the assets or liabilities occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 — Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active (markets with few transactions), inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data correlation or other means (market corroborated inputs). Level 3 — Unobservable inputs, which are only used to the extent that observable inputs are not available, reflect the Company’s assumptions about the pricing of an asset or liability.
Fair Value of Financial Instruments	The following describes the methods the Company uses to estimate the fair value of the Company’s financial assets and liabilities:Credit facility and notes payable — The fair value is estimated by discounting the expected cash flows based on estimated borrowing rates available to the Company as of the measurement date. Current and prior period liabilities’ carrying and fair values exclude net deferred financing costs. These financial instruments are valued using Level 2 inputs. Marketable securities — The Company’s marketable securities are carried at fair value and are valued using Level 1 inputs. The estimated fair value of the Company’s marketable securities are based on quoted market prices that are readily and regularly available in an active market. Derivative instruments — The Company’s derivative instruments are comprised of interest rate swaps. All derivative instruments are carried at fair value and are valued using Level 2 inputs. The fair value of these instruments is determined using interest rate market pricing models. In addition, credit valuation adjustments are incorporated into the fair values to account for the Company’s potential nonperformance risk and the performance risk of the respective counterparties. Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with those derivatives utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by the Company and its counterparties. However, as of December 31, 2020 and 2019, the Company assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and determined that the credit valuation adjustments are not significant to the overall valuation of the Company’s derivatives. As a result, the Company has determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. Other financial instruments — The Company considers the carrying values of its cash and cash equivalents, restricted cash, tenant receivables, accrued expenses and accounts payable, other liabilities, due to affiliates and distributions payable to approximate their fair values because of the short period of time between their origination and their expected realization as well as their highly-liquid nature. Due to the short-term maturities of these instruments, Level 1 inputs are utilized to estimate the fair value of these financial instruments.
Environmental Matters	Environmental Matters In connection with the ownership and operation of real estate, the Company may potentially be liable for costs and damages related to environmental matters. In addition, the Company may own or acquire certain properties that are subject to environmental remediation. Generally, the seller of the property, the tenant of the property and/or another third party is responsible for environmental remediation costs related to a property. Additionally, in connection with the purchase of certain properties, the respective sellers and/or tenants may agree to indemnify the Company against future remediation costs. The Company also carries environmental liability insurance on its properties that provides limited coverage for any remediation liability and/or pollution liability for third-party bodily injury and/or property damage claims for which the Company may be liable. The Company is not aware of any environmental matters which it believes are reasonably likely to have a material effect on its results of operations, financial condition or liquidity.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Schedule of Investment in and valuation of real estate and related assets	The estimated useful lives of the Company’s real estate assets by class are generally as follows: Buildings 40 years Site improvements 15 years Tenant improvements Lesser of useful life or lease term Intangible lease assets Lease term

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of fair value of company's financial assets and liabilities	In accordance with the fair value hierarchy described above, the following tables show 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 December 31, 2020 and 2019 (in thousands): Balance as of Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant December 31, 2020 (Level 1) (Level 2) (Level 3) Financial asset: Marketable securities $ 15,496 $ 15,496 $ — $ — Financial liabilities: Interest rate swaps $ (8,509) $ — $ (8,509) $ — Balance as of Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant December 31, 2019 (Level 1) (Level 2) (Level 3) Financial asset: Interest rate swaps $ 34 $ — $ 34 $ — Marketable securities 15,002 15,002 — — Total financial assets $ 15,036 $ 15,002 $ 34 $ — Financial liabilities: Interest rate swaps $ (4,917) $ — $ (4,917) $ —
Schedule of real estate impairment charges	The following summarizes the ranges of discount rates and terminal capitalization rates used for the Company’s impairment test for the real estate assets during the year ended December 31, 2020: Year Ended December 31, 2020 Discount Rate Terminal Capitalization Rate 7.87% - 9.69% 7.37% - 9.19% The following table presents the impairment charges by asset class recorded during the years ended December 31, 2020, 2019 and 2018 (in thousands): Year Ended December 31, 2020 2019 2018 Asset class impaired: Land $ 2,607 $ 329 $ 454 Buildings and improvements 8,889 2,227 1,000 Intangible lease assets 2,358 570 1,176 Intangible lease liabilities (3) (36) (363) Total impairment loss $ 13,851 $ 3,090 $ 2,267 The following table summarizes the purchase price allocation for the 2019 Asset Acquisitions purchased during the year ended December 31, 2019 (in thousands): 2019 Asset Acquisitions Land $ 17,998 Buildings and improvements 54,373 Acquired in-place leases and other intangibles (1) 6,575 Intangible lease liabilities (2) (313) Total purchase price $ 78,633 ______________________ (1) The weighted average amortization period for acquired in-place leases and other intangibles was 14.1 years . (2) The weighted average amortization period for acquired intangible lease liabilities was 15.0 years The following table summarizes the purchase price allocation for the 2018 Acquisitions (in thousands): 2018 Asset Acquisitions Land 28,293 Building and improvements 193,658 Acquired in-place leases and other intangibles (1) 31,279 Acquired above-market leases (2) 5,707 Intangible lease liabilities (3) (4,721) Total purchase price $ 254,216 ______________________ (1) The weighted average amortization period for acquired in-place leases and other intangibles was 13.7 years . (2) The weighted average amortization period for acquired above-market leases was 14.0 years . (3) The weighted average amortization period for acquired intangible lease liabilities was 17.5 years .

REAL ESTATE ASSETS (Tables)

REAL ESTATE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2020
Real Estate [Abstract]
Schedule of asset acquisitions	The following summarizes the ranges of discount rates and terminal capitalization rates used for the Company’s impairment test for the real estate assets during the year ended December 31, 2020: Year Ended December 31, 2020 Discount Rate Terminal Capitalization Rate 7.87% - 9.69% 7.37% - 9.19% The following table presents the impairment charges by asset class recorded during the years ended December 31, 2020, 2019 and 2018 (in thousands): Year Ended December 31, 2020 2019 2018 Asset class impaired: Land $ 2,607 $ 329 $ 454 Buildings and improvements 8,889 2,227 1,000 Intangible lease assets 2,358 570 1,176 Intangible lease liabilities (3) (36) (363) Total impairment loss $ 13,851 $ 3,090 $ 2,267 The following table summarizes the purchase price allocation for the 2019 Asset Acquisitions purchased during the year ended December 31, 2019 (in thousands): 2019 Asset Acquisitions Land $ 17,998 Buildings and improvements 54,373 Acquired in-place leases and other intangibles (1) 6,575 Intangible lease liabilities (2) (313) Total purchase price $ 78,633 ______________________ (1) The weighted average amortization period for acquired in-place leases and other intangibles was 14.1 years . (2) The weighted average amortization period for acquired intangible lease liabilities was 15.0 years The following table summarizes the purchase price allocation for the 2018 Acquisitions (in thousands): 2018 Asset Acquisitions Land 28,293 Building and improvements 193,658 Acquired in-place leases and other intangibles (1) 31,279 Acquired above-market leases (2) 5,707 Intangible lease liabilities (3) (4,721) Total purchase price $ 254,216 ______________________ (1) The weighted average amortization period for acquired in-place leases and other intangibles was 13.7 years . (2) The weighted average amortization period for acquired above-market leases was 14.0 years . (3) The weighted average amortization period for acquired intangible lease liabilities was 17.5 years .

INTANGIBLE LEASE ASSETS AND L_2

INTANGIBLE LEASE ASSETS AND LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of finite-lived intangible assets	Intangible lease assets and liabilities consisted of the following as of December 31, 2020 and 2019 (in thousands, except weighted average life remaining): As of December 31, 2020 2019 Intangible lease assets: In-place leases and other intangibles, net of accumulated amortization of $27,966 and $23,026, respectively (with a weighted average life remaining of 9.8 years and 14.6 years, respectively) $ 65,157 $ 75,754 Acquired above-market leases, net of accumulated amortization of $3,938 and $3,118, respectively (with a weighted average life remaining of 11.4 years and 12.7 years, respectively) 9,678 10,820 Total intangible lease assets, net $ 74,835 $ 86,574 Intangible lease liabilities: Acquired below-market leases, net of accumulated amortization of $4,734 and $4,111, respectively (with a weighted average life remaining of 10.2 years and 20.9 years, respectively) $ 12,040 $ 13,618
Schedule of amortization expense of below market lease	The following table summarizes the amortization related to the intangible lease assets and liabilities for the years ended December 31, 2020, 2019 and 2018 (in thousands): Year Ended December 31, 2020 2019 2018 In-place lease and other intangible amortization $ 7,776 $ 9,029 $ 8,971 Above-market lease amortization $ 1,020 $ 1,104 $ 959 Below-market lease amortization $ 1,393 $ 1,569 $ 1,501
Schedule of finite-lived intangible assets amortization expense	The following table summarizes the amortization related to the intangible lease assets and liabilities for the years ended December 31, 2020, 2019 and 2018 (in thousands): Year Ended December 31, 2020 2019 2018 In-place lease and other intangible amortization $ 7,776 $ 9,029 $ 8,971 Above-market lease amortization $ 1,020 $ 1,104 $ 959 Below-market lease amortization $ 1,393 $ 1,569 $ 1,501
Schedule of finite-lived intangible assets, future amortization expense	As of December 31, 2020, the estimated amortization relating to the intangible lease assets and liabilities is as follows (in thousands): Amortization Year Ending December 31, In-Place Leases and Other Intangibles Above-Market Leases Below-Market Leases 2021 $ 7,397 $ 1,005 $ 1,237 2022 7,352 1,005 1,213 2023 7,197 1,004 1,203 2024 6,835 943 1,140 2025 6,197 883 1,109 Thereafter 30,179 4,838 6,138 Total $ 65,157 $ 9,678 $ 12,040
Schedule of finite-lived intangible assets, future amortization expense	As of December 31, 2020, the estimated amortization relating to the intangible lease assets and liabilities is as follows (in thousands): Amortization Year Ending December 31, In-Place Leases and Other Intangibles Above-Market Leases Below-Market Leases 2021 $ 7,397 $ 1,005 $ 1,237 2022 7,352 1,005 1,213 2023 7,197 1,004 1,203 2024 6,835 943 1,140 2025 6,197 883 1,109 Thereafter 30,179 4,838 6,138 Total $ 65,157 $ 9,678 $ 12,040

MARKETABLE SECURITIES (Tables)

MARKETABLE SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule of available-for-sale securities	The following is a summary of the Company’s available-for-sale securities as of December 31, 2020 (in thousands): Available-for-sale securities Amortized Cost Basis Unrealized Gain Fair Value U.S. Treasury Bonds $ 6,415 $ 274 $ 6,689 U.S. Agency Bonds 1,721 35 1,756 Corporate Bonds 6,619 432 7,051 Total available-for-sale securities $ 14,755 $ 741 $ 15,496
Schedule of available-for-sale securities reconciliation	The following table provides the activity for the marketable securities during the year ended December 31, 2020 (in thousands): Amortized Cost Basis Unrealized Gain (Loss) Fair Value Marketable securities as of January 1, 2020 $ 14,829 $ 173 $ 15,002 Face value of marketable securities acquired 3,699 — 3,699 Premiums and discounts on purchase of marketable securities, net of acquisition costs 247 — 247 Amortization on marketable securities (70) — (70) Sales and maturities of securities (3,950) 31 (3,919) Unrealized gain on marketable securities — 537 537 Marketable securities as of December 31, 2020 $ 14,755 $ 741 $ 15,496
Schedule of investments classified by contractual maturity date	The scheduled maturities of the Company’s marketable securities as of December 31, 2020 are as follows (in thousands): Available-for-sale securities Amortized Cost Estimated Fair Value Due within one year $ 2,061 $ 2,074 Due after one year through five years 5,970 6,327 Due after five years through ten years 5,039 5,377 Due after ten years 1,685 1,718 Total $ 14,755 $ 15,496

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of derivative instruments	The following table summarizes the terms of the Company’s executed interest rate swap agreements designated as hedging instruments as of December 31, 2020 and 2019 (dollar amounts in thousands): Outstanding Notional Amount as of December 31, 2020 Fair Value of Liabilities Balance Sheet Location Interest Rates (1) Effective Dates Maturity Dates December 31, 2020 December 31, 2019 Interest Rate Swaps (2) Derivative liabilities, deferred rental income and other liabilities $ 281,465 3.46% to 4.99% 12/16/2016 to 9/30/2019 9/13/2021 to 9/6/2022 $ (8,509) $ (4,917) ____________________________________ (1) The interest rates consist of the underlying index swapped to a fixed rate and the applicable interest rate spread as of December 31, 2020. (2) As of December 31, 2019, interest rate swaps with an aggregate outstanding notional amount of $49.2 million were in an asset position with an aggregate fair value balance of $34,000 and were included in prepaid expenses and other assets in the accompanying consolidated balance sheets.

CREDIT FACILITY AND NOTES PAY_2

CREDIT FACILITY AND NOTES PAYABLE (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of debt activity	The following table summarizes the debt balances as of December 31, 2020 and 2019, and the debt activity for the year ended December 31, 2020 (in thousands): During the Year Ended December 31, 2020 Balance as of Debt Issuances, Net (1) Repayments Amortization Balance as of Credit facility $ 212,500 $ 127,000 $ (18,000) $ — $ 321,500 Fixed rate debt 138,459 — (9,240) — 129,219 Total debt 350,959 127,000 (27,240) — 450,719 Deferred costs - credit facility (2) (1,023) — — 378 (645) Deferred costs - fixed rate debt (997) — — 301 (696) Total debt, net $ 348,939 $ 127,000 $ (27,240) $ 679 $ 449,378 ____________________________________ (1) Includes deferred financing costs incurred during the period. (2) Deferred costs related to the term portion of the credit facility, as discussed in Note 2 — Summary of Significant Accounting Policies.
Schedule of maturities of long-term debt	The following table summarizes the scheduled aggregate principal repayments for the Company’s outstanding debt subsequent to December 31, 2020 (in thousands): Year Ending December 31, Principal Repayments 2021 $ 129,442 2022 304,327 2023 — 2024 — 2025 16,950 Thereafter — Total $ 450,719

SUPPLEMENTAL CASH FLOW DISCLO_2

SUPPLEMENTAL CASH FLOW DISCLOSURES (Tables)	12 Months Ended
	Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental cash flow disclosure	Supplemental cash flow disclosures for the years ended December 31, 2020, 2019 and 2018 are as follows (in thousands): Year Ended December 31, 2020 2019 2018 Supplemental Disclosures of Non-Cash Investing and Financing Activities: Change in accrued dealer manager fees, ongoing stockholder servicing fees, and other offering costs $ 613 $ 3,867 $ (2,236) Distributions to stockholders declared and unpaid $ 4,887 $ 2,814 $ 2,719 Common stock issued through distribution reinvestment plan $ 13,108 $ 16,201 $ 13,774 Redemptions to stockholders declared and unpaid $ 2,082 $ — $ — Change in fair value of marketable securities $ 568 $ 265 $ 85 Change in fair value of interest rate swaps $ (3,626) $ (5,540) $ (1,044) Accrued deferred financing costs $ 1 $ — $ 9 Supplemental Cash Flow Disclosures: Interest paid $ 16,115 $ 14,115 $ 13,273 Cash paid for taxes $ 197 $ 179 $ 184

RELATED-PARTY TRANSACTIONS AN_2

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Schedule of related party transactions	In connection with the Offering, CCO Capital, the Company’s dealer manager, will receive upfront selling commissions and dealer manager fees, and/or an asset-based stockholder servicing fees, as summarized in the table below for each class of common stock: Upfront Selling Commissions Dealer Manager Fees Ongoing Stockholder Servicing Fees (2) D Shares (1) — % — % 0.25 % T Shares (1) 3.00 % 0.50 % 0.85 % S Shares (1) 3.50 % — % 0.85 % I Shares — % — % — % ____________________________________ (1) The upfront selling commissions are based on a percentage of the transaction price, which is exclusive of the upfront selling commission, for T Shares and S Shares. Prior to February 28, 2020, there was a 1.50% upfront selling commission payable on D Shares. Effective February 28, 2020, there are no upfront selling commissions or dealer manager fees payable on D Shares. The dealer manager fee is based on a percentage of the transaction price for T Shares. Upfront selling commissions and dealer manager fees are deducted directly from the offering price for T Shares and S Shares and paid to CCO Capital. The Company has been advised that CCO Capital intends to reallow 100% of the upfront selling commissions on T Shares and S Shares to participating broker-dealers and may reallow a portion of the dealer manager fee. (2) The stockholder servicing fees are calculated as a percentage of the NAV per D Share, T Share or S Share, as applicable, and are paid monthly in arrears. CCO Capital, in its sole discretion, may reallow a portion of the stockholder servicing fees to participating broker-dealers. The Company will cease paying the stockholder servicing fees with respect to any D Shares, T Shares or S Shares held in a stockholder’s account when the total upfront selling commissions, dealer manager fees and stockholder servicing fees would exceed, in the aggregate, 8.75% (or, in the case of shares sold through certain participating broker-dealers, a lower limit as set forth in any applicable agreement between the Company’s dealer manager and a participating broker-dealer) of the gross proceeds from the sale of such shares. The Company incurred commissions, fees and expense reimbursements as shown in the table below for services provided by CIM Income NAV Management and its affiliates related to the services described above during the periods indicated (in thousands): Year Ended December 31, 2020 2019 2018 Upfront selling commissions $ 396 $ 1,488 $ 2,797 Stockholder servicing fees (1) $ 2,574 $ 2,910 $ 1,126 Dealer manager fees (1) $ 69 $ 267 $ 2,609 Organization and offering expense reimbursement $ 253 $ 830 $ 1,339 Acquisition expense reimbursement $ 714 $ 1,217 $ 1,722 Advisory fee $ 6,382 $ 7,902 $ 5,858 Operating expense reimbursement $ 861 $ 2,388 $ 2,652 ______________________ (1) Amounts are calculated for the respective period in accordance with the dealer manager agreement and exclude the estimated liability for the future fees payable to CCO Capital of $11.9 million and $13.9 million as of December 31, 2020 and 2019, respectively, which are included in due to affiliates in the consolidated balance sheets, with a corresponding decrease to capital in excess of par value, as described in Note 2 — Summary of Significant Accounting Policies.

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Schedule of issuances and redemptions of common stock	The table below provides information regarding the issuances and redemptions of each class of the Company’s common stock during the years ended December 31, 2020, 2019 and 2018 (dollar amounts in thousands): D Shares T Shares S Shares (1) I Shares Total Shares Par Value Shares Par Value Shares Par Value Shares Par Value Shares Par Value Balance as of January 1, 2018 15,837,102 $ 158 8,793,223 $ 88 — $ — 1,065,232 $ 11 25,695,557 $ 257 Issuance of common stock 4,853,772 48 4,719,621 47 — — 257,671 3 9,831,064 98 Conversion of shares (8,997) — — — — — 8,889 — (108) — Redemptions of common stock (1,746,560) (17) (735,522) (7) — — (172,062) (2) (2,654,144) (26) Equity-based compensation 7,212 — — — — — — — 7,212 — Balance as of December 31, 2018 18,942,529 $ 189 12,777,322 $ 128 — $ — 1,159,730 $ 12 32,879,581 $ 329 Issuance of common stock 2,670,861 27 3,471,200 35 7,031 — 109,678 1 6,258,770 63 Redemptions of common stock (3,477,667) (35) (1,748,886) (18) — — (171,512) (2) (5,398,065) (55) Equity-based compensation 7,424 — — — — — — — 7,424 — Balance as of December 31, 2019 18,143,147 $ 181 14,499,636 $ 145 7,031 $ — 1,097,896 $ 11 33,747,710 $ 337 Issuance of common stock 751,336 8 1,164,339 11 368 — 35,567 — 1,951,610 $ 19 Conversion of shares (25,087) — — — — — 24,687 — (400) — Redemptions of common stock (3,561,581) (36) (1,885,841) (18) — — (187,689) (1) (5,635,111) (55) Equity-based compensation 10,691 — — — — — — — 10,691 — Equity-based payments to advisor — — — — — — 40,881 — 40,881 — Balance as of December 31, 2020 15,318,506 $ 153 13,778,134 $ 138 7,399 $ — 1,011,342 $ 10 30,115,381 $ 301 ______________________ (1) The Company did not issue any Class S Shares prior to October 10, 2019.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of dividends and distributions	The following table shows the character of the distributions the Company paid on a percentage basis for the years ended December 31, 2020, 2019, and 2018: Year Ended December 31, Character of Distributions: 2020 2019 2018 Ordinary dividends 26.9 % 38.9 % 52.4 % Nondividend distributions 71.3 % 43.1 % 47.6 % Capital gain distributions 1.8 % 18.0 % — % Total 100 % 100 % 100 %

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Schedule of future minimum rental income for operating leases	As of December 31, 2020, the future minimum rental income from the Company’s real estate assets under non-cancelable operating leases, assuming no exercise of renewal options for the succeeding five fiscal years and thereafter, was as follows (in thousands): Year Ending December 31, Future Minimum Rental Income 2021 $ 62,374 2022 62,697 2023 62,710 2024 61,318 2025 57,480 Thereafter 335,208 Total $ 641,787
Schedule of rental and other property income	Rental and other property income during the years ended December 31, 2020, 2019 and 2018 consisted of the following (in thousands): Year Ended December 31, 2020 2019 2018 Fixed rental and other property income (1) $ 63,782 $ 68,815 $ 63,669 Variable rental and other property income (2) 8,814 8,791 7,109 Total rental and other property income $ 72,596 $ 77,606 $ 70,778 ______________________ (1) Consists primarily of fixed contractual payments from operating leases with tenants recognized on a straight-line basis over the lease term, including amortization of acquired above- and below-market leases, and is net of uncollectible lease related receivables.

QUARTERLY RESULTS (UNAUDITED) (

QUARTERLY RESULTS (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Schedule of quarterly financial information	Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2020 and 2019 (in thousands, except for per share amounts). In the opinion of management, the information for the interim periods presented includes all adjustments, which are of a normal and recurring nature, necessary to present a fair presentation of the results for each period. December 31, 2020 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 18,678 $ 17,236 $ 18,875 $ 18,152 Net (loss) income $ (3,510) $ (11,292) $ 1,729 $ 2,062 Net (loss) income attributable to the Company $ (3,514) $ (11,301) $ 1,721 $ 2,051 Basic and diluted net (loss) income per share - Class D common stock (1) $ (0.10) $ (0.36) $ 0.06 $ 0.07 Basic and diluted net (loss) income per share - Class T common stock (1) $ (0.11) $ (0.36) $ 0.05 $ 0.06 Basic and diluted net (loss) income per share - Class S common stock (1) $ (0.07) $ (0.51) $ 0.10 $ 0.02 Basic and diluted net (loss) income per share - Class I common stock (1) $ (0.10) $ (0.35) $ 0.06 $ 0.08 ____________________________________ (1) The Company calculates net (loss) income per share based on the weighted-average number of outstanding shares of common stock during the reporting period. The average number of shares fluctuates throughout the year and can therefore produce a full year result that does not agree to the sum of the individual quarters. December 31, 2019 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 19,541 $ 19,288 $ 19,350 $ 19,633 Net income $ 1,636 $ 5,453 $ 7,678 $ 24 Net income attributable to the Company $ 1,627 $ 5,445 $ 7,669 $ 9 Basic and diluted net income per share - Class D common stock (1) $ 0.05 $ 0.16 $ 0.23 $ — Basic and diluted net income per share - Class T common stock (1) $ 0.05 $ 0.16 $ 0.22 $ — Basic and diluted net income per share - Class S common stock (1), (2) $ — $ — $ — $ 0.10 Basic and diluted net income per share - Class I common stock (1) $ 0.05 $ 0.17 $ 0.23 $ 0.01 ____________________________________ (1) The Company calculates net income per share based on the weighted-average number of outstanding shares of common stock during the reporting period. The average number of shares fluctuates throughout the year and can therefore produce a full year result that does not agree to the sum of the individual quarters. (2) The Company did not issue any Class S Shares prior to October 10, 2019.

ORGANIZATION AND BUSINESS (Narr

ORGANIZATION AND BUSINESS (Narrative) (Details) $ / shares in Units, ft² in Millions	12 Months Ended
	Dec. 31, 2020USD ($)ft²propertystates$ / sharesshares	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)	Aug. 07, 2020USD ($)	Feb. 10, 2017USD ($)	Aug. 26, 2013USD ($)class_of_stock	Dec. 06, 2011USD ($)
Organization and business
Shares issued (in shares) | shares	48,800,000
Proceeds from issuance of common stock	$ 20,976,000	$ 95,942,000	$ 167,608,000
Consolidated properties
Organization and business
Number of owned properties | property	123
Rentable square feet (in square feet) | ft²	5.3
Number of states in which entity owns properties | states	34
Percentage of rentable space leased	98.10%
Consolidated joint venture | Consolidated properties
Organization and business
Number of owned properties | property	2
D Shares Common Stock
Organization and business
Shares issued (in shares) | shares	15,318,506	18,143,147
Net asset value per share (in dollars per share) | $ / shares	$ 16.75
T Shares Common Stock
Organization and business
Shares issued (in shares) | shares	13,778,134	14,499,636
Net asset value per share (in dollars per share) | $ / shares	$ 16.32
S Shares Common Stock
Organization and business
Shares issued (in shares) | shares	7,399	7,031
Net asset value per share (in dollars per share) | $ / shares	$ 16.30
I Shares Common Stock
Organization and business
Shares issued (in shares) | shares	1,011,342	1,097,896
Net asset value per share (in dollars per share) | $ / shares	$ 17.04
IPO
Organization and business
Common stock, value authorized						$ 4,000,000,000	$ 4,000,000,000
Classes of common stock, number of additions | class_of_stock						2
IPO | Common Stock
Organization and business
Shares issued (in shares) | shares	48,800,000
Proceeds from issuance of common stock	$ 878,200,000
Offering costs, selling commissions and dealer manager fees	26,200,000
Dealer manager and distribution fees	$ 6,500,000
Multi-class offering
Organization and business
Common stock, value authorized				$ 4,000,000,000	$ 4,000,000,000
Primary Offering
Organization and business
Common stock, value authorized				3,500,000,000	3,500,000,000	$ 3,500,000,000	3,500,000,000
Distribution Reinvestment Plan
Organization and business
Common stock, value authorized				$ 500,000,000	$ 500,000,000	$ 500,000,000	$ 500,000,000
DRIP | Common Stock
Organization and business
Shares issued (in shares) | shares	3,700,000
CIM Income NAV OP
Organization and business
General partner partnership interest percentage (percentage)	100.00%

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Reclassifications) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Write-off of uncollectible lease-related receivables	$ 1,400	$ 2

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Real Estate) (Details)	12 Months Ended
	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)property
Real Estate Properties
Real estate impairment | $	$ 13,851,000	$ 3,090,000	$ 2,267,000
Number of real estate properties	1
Real estate property held for sale | $		$ 0
West Chester, OH
Real Estate Properties
Assets Held for Sale | $	$ 1,000,000
Buildings
Real Estate Properties
Acquired real estate asset, useful life	40 years
Site improvements
Real Estate Properties
Acquired real estate asset, useful life	15 years
Anchored Shopping Center
Real Estate Properties
Number of real estate properties impaired	1	1	1
Number of real estate properties impaired due to tenant bankruptcy	1
Retail Site
Real Estate Properties
Number of real estate properties impaired	1	5
Number of real estate properties impaired due to tenant bankruptcy	3

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Investment in CIM UII Onshore) (Details) - USD ($) $ in Thousands	Sep. 27, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Equity Method Investments
Carrying value		$ 46,680	$ 0
Loss on investment in CIM UII Onshore		(2,660)	0	$ 0
Distributions of capital from investment in CIM UII Onshore		660	$ 0	$ 0
CIM UII Onshore
Schedule of Equity Method Investments
Payments to acquire investments	$ 50,000	$ 49,300
Ownership percent (percentage)		5.00%
Distributions of capital from investment in CIM UII Onshore		$ 660

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Noncontrolling Interest in Consolidated Joint Venture) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Net income allocated to noncontrolling interest	$ 32	$ 41	$ 37
Distributions to noncontrolling interests	(64)	(68)	$ (43)
Non-controlling interests	$ 707	$ 739

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cash and Cash Equivalents and Restricted Cash) (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 415,000	$ 607,000	$ 806,000
Lockbox Accounts
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	134,000	136,000
Escrow Deposits
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	281,000	421,000
Escrowed Investor Proceeds
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 0	$ 50,000

SUMMARY OF SIGNIFICANT ACCOUN_9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Deferred Financing Costs) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Deferred costs, net	$ 289	$ 672

SUMMARY OF SIGNIFICANT ACCOU_10

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Due to Affiliates) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Due to Affiliate	$ 13,826	$ 16,567

SUMMARY OF SIGNIFICANT ACCOU_11

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Redeemable Common Stock) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Organization and business
Temporary equity, redemption, percentage limitation	0.80%
Redeemable common stock	$ 10,040	$ 59,263
Maximum
Organization and business
Temporary equity, redemption, percentage limitation	2.00%

SUMMARY OF SIGNIFICANT ACCOU_12

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Stockholder Servicing Fees) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Due to affiliates	$ 13,826	$ 16,567
Dealer manager
Class of Stock [Line Items]
Due to affiliates	$ 11,900	$ 13,900
D Shares Common Stock
Class of Stock [Line Items]
Daily asset based related party fee percent	0.00068%
T Shares Common Stock
Class of Stock [Line Items]
Daily asset based related party fee percent	0.00233%
S Shares Common Stock
Class of Stock [Line Items]
Daily asset based related party fee percent	0.00233%

SUMMARY OF SIGNIFICANT ACCOU_13

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Revenue Recognition) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue
Write-off of uncollectible lease-related receivables	$ 1,400	$ 2
Straight Line Rent
Disaggregation of Revenue
Write-off of uncollectible lease-related receivables	158
Tenant Reimbursement
Disaggregation of Revenue
Write-off of uncollectible lease-related receivables	$ 235

SUMMARY OF SIGNIFICANT ACCOU_14

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ((Loss) Earnings and Distributions Per Share) (Details)	12 Months Ended
	Dec. 31, 2020class_of_stockshares	Dec. 31, 2019shares	Dec. 31, 2018shares
Earnings Per Share [Abstract]
Weighted average number diluted shares outstanding adjustment (in shares) | shares	0	0	0
Multi-class offering
Earnings Per Share [Abstract]
Classes of common stock, number | class_of_stock	4

SUMMARY OF SIGNIFICANT ACCOU_15

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Offering and Related Costs) (Details) - Organization and offering expense reimbursement - Advisors	Dec. 31, 2020
Related Party Transaction
Organization and offering expense (percentage)	0.75%
Maximum
Related Party Transaction
Organization and offering expense (percentage)	0.75%

SUMMARY OF SIGNIFICANT ACCOU_16

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Other) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)segment	Mar. 24, 2021
Accounting Policies [Abstract]
Number of reportable segments | segment	1
New Accounting Pronouncements or Change in Accounting Principle
Rent deferral request granted	$ 539
Rental abatements granted	218
Rent abatements under lease amendments	$ 400
Subsequent Event
New Accounting Pronouncements or Change in Accounting Principle
Percent of rental payments collected (percentage)		99.00%

FAIR VALUE MEASUREMENTS (Narrat

FAIR VALUE MEASUREMENTS (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Real estate impairment	$ 13,851	$ 3,090	$ 2,267
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Carrying value of impaired property	40,100	15,500	16,800
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt outstanding	450,700	351,000
Carrying value of impaired property	54,000	18,600	$ 19,100
Significant Other Observable Inputs (Level 2) | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt outstanding	$ 451,000	$ 351,200
Anchored Shopping Center
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Number of real estate properties impaired due to tenant bankruptcy | property	1
Number of real estate properties impaired, in excess of fair value value | property	1	1
Retail Site
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Number of real estate properties impaired due to tenant bankruptcy | property	3
Number of real estate properties impaired, in excess of fair value value | property	1	5

FAIR VALUE MEASUREMENTS (Items

FAIR VALUE MEASUREMENTS (Items Measured at Fair Value On Recurring Basis) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Financial asset:
Marketable securities	$ 15,496	$ 15,002
Fair Value, Measurements, Recurring
Financial asset:
Marketable securities	15,496	15,002
Total financial assets		15,036
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial asset:
Marketable securities	15,496	15,002
Total financial assets		15,002
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Financial asset:
Marketable securities	0	0
Total financial assets		34
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3)
Financial asset:
Marketable securities	0	0
Total financial assets		0
Fair Value, Measurements, Recurring | Interest rate swaps
Financial asset:
Interest rate swaps		34
Financial liabilities:
Interest rate swaps	(8,509)	(4,917)
Fair Value, Measurements, Recurring | Interest rate swaps | Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial asset:
Interest rate swaps		0
Financial liabilities:
Interest rate swaps	0	0
Fair Value, Measurements, Recurring | Interest rate swaps | Significant Other Observable Inputs (Level 2)
Financial asset:
Interest rate swaps		34
Financial liabilities:
Interest rate swaps	(8,509)	(4,917)
Fair Value, Measurements, Recurring | Interest rate swaps | Significant Unobservable Inputs (Level 3)
Financial asset:
Interest rate swaps		0
Financial liabilities:
Interest rate swaps	$ 0	$ 0

FAIR VALUE MEASUREMENTS (Real E

FAIR VALUE MEASUREMENTS (Real Estate Impairment Charges) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Asset class impaired:
Impairment of real estate assets	$ 13,851	$ 3,090	$ 2,267
Intangible lease liabilities	(3)	(36)	(363)
Total impairment loss	13,851	3,090	2,267
Land
Asset class impaired:
Impairment of real estate assets	2,607	329	454
Buildings and improvements
Asset class impaired:
Impairment of real estate assets	8,889	2,227	1,000
Intangible lease assets
Asset class impaired:
Impairment of real estate assets	$ 2,358	$ 570	$ 1,176
Discount Rate | Minimum
Asset class impaired:
Real estate assets, measurement input	0.0787
Discount Rate | Maximum
Asset class impaired:
Real estate assets, measurement input	0.0969
Terminal Capitalization Rate | Minimum
Asset class impaired:
Real estate assets, measurement input	0.0737
Terminal Capitalization Rate | Maximum
Asset class impaired:
Real estate assets, measurement input	0.0919

REAL ESTATE ASSETS (Property Ac

REAL ESTATE ASSETS (Property Acquisitions Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)property
Business Acquisition
Number of properties acquired through business combinations and asset acquisitions in the period | property	0	4	19
Percent of assets acquired (percentage)		100.00%	100.00%
Total purchase price	$ 878,573	$ 914,299
External acquisition-related capitalized expenses		287	$ 1,400
Wholly Owned Properties
Business Acquisition
Total purchase price		$ 78,633	$ 254,216

REAL ESTATE ASSETS (Property Di

REAL ESTATE ASSETS (Property Dispositions) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations
Gross sale price | $	$ 16,800	$ 91,100	$ 49,100
Net proceeds from disposition of real estate assets | $	15,900	88,100	36,400
Repayments of debt | $	27,240		$ 11,300
Property disposed held as security against fixed rate debt | property			1
Gain on disposition of real estate, net | $	$ 627	$ 10,213	$ 1,019
Anchored Shopping Center
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations
Number of properties sold | property	2		2
Retail Site
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations
Number of properties sold | property	3	25	4
Industrial Property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations
Number of properties sold | property		3

REAL ESTATE ASSETS (Impairment

REAL ESTATE ASSETS (Impairment of a Property) (Details) ft² in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)ft²property	Dec. 31, 2019USD ($)ft²property	Dec. 31, 2018USD ($)ft²property
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Area of real estate property impaired | ft²	329	129	149
Impairment charges	$ 13,851	$ 3,090	$ 2,267
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Carrying value of impaired property	54,000	18,600	19,100
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Carrying value of impaired property	$ 40,100	$ 15,500	$ 16,800
Anchored Shopping Center
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Number of impaired properties | property	2	1	1
Retail Site
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Number of impaired properties | property	4	5

REAL ESTATE ASSETS (Assets and

REAL ESTATE ASSETS (Assets and Liabilities Acquired Through Asset Acquisition) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Real Estate
Land	$ 139,644	$ 145,373
Buildings and improvements	632,190	656,208
Intangible lease assets	106,739	112,718
Total real estate assets, at cost	$ 878,573	$ 914,299
Below market lease, weighted average useful life (in years)	10 years 2 months 12 days	20 years 10 months 24 days	17 years 6 months
Acquired in-place leases and other intangibles
Real Estate
Weighted average amortization period (in years)		14 years 1 month 6 days	13 years 8 months 12 days
Above-Market Leases
Real Estate
Weighted average amortization period (in years)			14 years
Wholly Owned Properties
Real Estate
Land		$ 17,998	$ 28,293
Buildings and improvements		54,373	193,658
Intangible lease liabilities		(313)	(4,721)
Total real estate assets, at cost		$ 78,633	254,216
Below market lease, weighted average useful life (in years)		15 years
Wholly Owned Properties | Acquired in-place leases and other intangibles
Real Estate
Intangible lease assets		$ 6,575	31,279
Wholly Owned Properties | Above-Market Leases
Real Estate
Intangible lease assets			$ 5,707

REAL ESTATE ASSETS (Consolidate

REAL ESTATE ASSETS (Consolidated Joint Venture) (Details)	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)
Business Acquisition
Assets	$ 866,219,000	$ 869,137,000
Total real estate investments, net	776,582,000	833,361,000
Intangible leased assets	74,835,000	86,574,000
Liabilities	497,905,000	393,108,000
Long-term debt, including net deferred financing costs	449,378,000	$ 348,939,000
Consolidated joint venture
Business Acquisition
Assets	7,000,000
Total real estate investments, net	7,200,000
Intangible leased assets	641,000
Accumulated depreciation, depletion and amortization, property, plant and equipment	924,000
Liabilities	106,000
Long-term debt, including net deferred financing costs	$ 0
Consolidated properties
Business Acquisition
Number of owned properties | property	123
Consolidated properties | Consolidated joint venture
Business Acquisition
Number of owned properties | property	2

INTANGIBLE LEASE ASSETS AND L_3

INTANGIBLE LEASE ASSETS AND LIABILITIES (Schedule of Intangible Assets and Liabilities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets
Intangible leased assets	$ 74,835	$ 86,574
Accumulated amortization	31,900
Below market leases net of amortization	12,040	13,618
Below market lease, accumulated amortization	$ 4,734	$ 4,111
Below market lease, weighted average useful life (in years)	10 years 2 months 12 days	20 years 10 months 24 days	17 years 6 months
In-Place Leases and Other Intangibles
Finite-Lived Intangible Assets
Intangible leased assets	$ 65,157	$ 75,754
Accumulated amortization	$ 27,966	$ 23,026
Useful life (in years)	9 years 9 months 18 days	14 years 7 months 6 days
Above-Market Leases
Finite-Lived Intangible Assets
Intangible leased assets	$ 9,678	$ 10,820
Accumulated amortization	$ 3,938	$ 3,118
Useful life (in years)	11 years 4 months 24 days	12 years 8 months 12 days

INTANGIBLE LEASE ASSETS AND L_4

INTANGIBLE LEASE ASSETS AND LIABILITIES (Amortization Expenses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets
Below-market lease amortization	$ 1,393	$ 1,569	$ 1,501
In-Place Leases and Other Intangibles
Finite-Lived Intangible Assets
Amortization expense	7,776	9,029	8,971
Above-market lease
Finite-Lived Intangible Assets
Amortization expense	$ 1,020	$ 1,104	$ 959

INTANGIBLE LEASE ASSETS AND L_5

INTANGIBLE LEASE ASSETS AND LIABILITIES (Estimated Amortization of Intangible lease assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Amortization In-Place Leases and Other Intangibles and Above-Market Leases
Total	$ 74,835	$ 86,574
Below-Market Leases
2021	1,237
2022	1,213
2023	1,203
2024	1,140
2025	1,109
Thereafter	6,138
Total	12,040	13,618
In-Place Leases and Other Intangibles
Amortization In-Place Leases and Other Intangibles and Above-Market Leases
2021	7,397
2022	7,352
2023	7,197
2024	6,835
2025	6,197
Thereafter	30,179
Total	65,157
Above-Market Leases
Amortization In-Place Leases and Other Intangibles and Above-Market Leases
2021	1,005
2022	1,005
2023	1,004
2024	943
2025	883
Thereafter	4,838
Total	$ 9,678	$ 10,820

INVESTMENT IN CIM UII ONSHORE (

INVESTMENT IN CIM UII ONSHORE (Details) - USD ($) $ in Thousands	Sep. 27, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Equity Method Investments
Loss on investment in CIM UII Onshore		$ (2,660)	$ 0	$ 0
Distributions of capital from investment in CIM UII Onshore		660	0	$ 0
Carrying value		46,680	$ 0
CIM UII Onshore
Schedule of Equity Method Investments
Payments to acquire investments	$ 50,000	49,300
Distributions of capital from investment in CIM UII Onshore		$ 660
Ownership percent (percentage)		5.00%

MARKETABLE SECURITIES (Narrativ

MARKETABLE SECURITIES (Narrative) (Details)	12 Months Ended
	Dec. 31, 2020USD ($)security	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Investments, Debt and Equity Securities [Abstract]
Investment in marketable securities	$ 15,496,000	$ 15,002,000
Number of securities sold | security	26
Proceeds from sale and maturities of marketable securities	$ 3,919,000	811,000	$ 1,202,000
Loss on sale of marketable securities	31,000
Unrealized gain on marketable securities	537,000
Unrealized gain (loss)	741,000	$ 173,000
Unrealized Gain	741,000
Unrealized gain on marketable securities	537,000
Credit losses	$ 0

MARKETABLE SECURITIES (Schedule

MARKETABLE SECURITIES (Schedule of Available-for-sale Securities) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale
Amortized Cost	$ 14,755	$ 14,829
Unrealized Gain	741
Fair Value	15,496	$ 15,002
U.S. Treasury Bonds
Debt Securities, Available-for-sale
Amortized Cost	6,415
Unrealized Gain	274
Fair Value	6,689
U.S. Agency Bonds
Debt Securities, Available-for-sale
Amortized Cost	1,721
Unrealized Gain	35
Fair Value	1,756
Corporate Bonds
Debt Securities, Available-for-sale
Amortized Cost	6,619
Unrealized Gain	432
Fair Value	$ 7,051

MARKETABLE SECURITIES (Schedu_2

MARKETABLE SECURITIES (Schedule of Available-for-sale Securities Reconciliation) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Amortized Cost Basis
Marketable securities as of January 1, 2020	$ 14,829
Face value of marketable securities acquired	3,699
Premiums and discounts on purchase of marketable securities, net of acquisition costs	247
Amortization on marketable securities	(70)
Sales and maturities of securities	(3,950)
Marketable securities as of December 31, 2020	14,755
Unrealized Gain (Loss)
Marketable securities as of January 1, 2020	173
Sales and maturities of securities	31
Unrealized gain on marketable securities	537
Marketable securities as of December 31, 2020	741
Fair Value
Marketable securities as of January 1, 2020	15,002
Face value of marketable securities acquired	3,699
Premiums and discounts on purchase of marketable securities, net of acquisition costs	247
Amortization on marketable securities	(70)
Sales and maturities of securities	(3,919)
Unrealized gain on marketable securities	537
Marketable securities as of December 31, 2020	$ 15,496

MARKETABLE SECURITIES (Schedu_3

MARKETABLE SECURITIES (Schedule of Maturities) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Amortized Cost
Due within one year	$ 2,061
Due after one year through five years	5,970
Due after five years through ten years	5,039
Due after ten years	1,685
Amortized Cost	14,755	$ 14,829
Estimated Fair Value
Due within one year	2,074
Due after one year through five years	6,327
Due after five years through ten years	5,377
Due after ten years	1,718
Estimated Fair Value	$ 15,496	$ 15,002

DERIVATIVE INSTRUMENTS AND HE_3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)swap_agreement	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Derivatives, Fair Value
Amount of loss (gain) reclassified from other comprehensive (loss) income into income as interest expense and other, net	$ 4,661	$ (167)	$ (294)
Loss reported in total stockholders’ equity	$ (357,567)	(416,027)
Interest rate swaps
Derivatives, Fair Value
Derivative, number of instruments held | swap_agreement	8
Termination value	$ 8,700
Interest rate swaps | Cash Flow Hedging
Derivatives, Fair Value
Interest rate cash flow hedge gain (loss) to be reclassified during next twelve months	5,700
Interest rate swaps | Cash Flow Hedging | Derivative liabilities, deferred rental income and other liabilities | Designated as Hedging Instrument
Derivatives, Fair Value
Fair Value of Liabilities	(8,509)	(4,917)
Loss reported in total stockholders’ equity	$ (8,500)	$ (4,900)

DERIVATIVE INSTRUMENTS AND HE_4

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Schedule of derivative instruments) (Details) - Designated as Hedging Instrument - Interest rate swaps - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Derivative liabilities, deferred rental income and other liabilities | Cash Flow Hedging
Derivatives, Fair Value
Outstanding Notional Amount as of December 31, 2020	$ 281,465
Fair Value of Liabilities	$ (8,509)	$ (4,917)
Prepaid expenses, interest receivable and other assets
Derivatives, Fair Value
Outstanding Notional Amount as of December 31, 2020		49,200
Fair value of assets		$ 34
Minimum | Derivative liabilities, deferred rental income and other liabilities | Cash Flow Hedging
Derivatives, Fair Value
Interest Rate (percentage)	3.46%
Maximum | Derivative liabilities, deferred rental income and other liabilities | Cash Flow Hedging
Derivatives, Fair Value
Interest Rate (percentage)	4.99%

CREDIT FACILITY AND NOTES PAY_3

CREDIT FACILITY AND NOTES PAYABLE (Fixed Rate Debt) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument
Debt outstanding	$ 449,378	$ 348,939
Weighted average years to maturity	1 year 4 months 24 days
Weighted average interest rate (percentage)	3.66%
Debt outstanding	$ 450,719	350,959
Fixed rate debt
Debt Instrument
Weighted average interest rate (percentage)	3.93%
Debt outstanding	$ 129,219	$ 138,459
Debt security, amount, aggregate gross real estate assets net of gross intangible lease liabilities	$ 228,800
Fixed rate debt | Minimum
Debt Instrument
Debt instrument, interest rate, stated percentage (percentage)	3.56%
Fixed rate debt | Maximum
Debt Instrument
Debt instrument, interest rate, stated percentage (percentage)	4.17%
Variable Rate Debt | Interest rate swaps
Debt Instrument
Debt outstanding	$ 69,000

CREDIT FACILITY AND NOTES PAY_4

CREDIT FACILITY AND NOTES PAYABLE (Schedule of Debt) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2018
Debt [Roll Forward]
Long-term debt, gross, beginning balance	$ 350,959
Total debt, net, beginning of period	348,939
Debt Issuance, Gross	127,000
Debt Issuance, Net	127,000
Repayments	(27,240)	$ (11,300)
Repayments and modifications, total debt, net	(27,240)
Amortization	679
Long-term debt, gross, ending balance	450,719
Total debt, net, end of period	449,378
Credit facility
Debt [Roll Forward]
Long-term debt, gross, beginning balance	212,500
Deferred costs, beginning of period	(1,023)
Debt Issuance, Gross	127,000
Debt Issuance, Net, Deferred Costs	0
Repayments	(18,000)
Amortization of deferred financing costs	378
Long-term debt, gross, ending balance	321,500
Deferred costs, end of period	(645)
Fixed rate debt
Debt [Roll Forward]
Long-term debt, gross, beginning balance	138,459
Deferred costs, beginning of period	(997)
Debt Issuance, Gross	0
Debt Issuance, Net, Deferred Costs	0
Repayments	(9,240)
Amortization of deferred financing costs	301
Long-term debt, gross, ending balance	129,219
Deferred costs, end of period	$ (696)

CREDIT FACILITY AND NOTES PAY_5

CREDIT FACILITY AND NOTES PAYABLE (Credit Facility) (Details)	12 Months Ended
	Dec. 31, 2020USD ($)extension	Dec. 31, 2019USD ($)
Debt Instrument
Notes payable and credit facility, net	$ 449,378,000	$ 348,939,000
Weighted average interest rate (percentage)	3.66%
Line of credit
Debt Instrument
Notes payable and credit facility, net	$ 109,000,000
Line of credit | JPMorgan Chase Bank, N.A.
Debt Instrument
Line of credit facility, maximum borrowing capacity	425,000,000
Notes payable and credit facility, net	$ 321,500,000
Weighted average interest rate (percentage)	3.56%
Line of credit, remaining borrowing capacity	$ 103,500,000
Line of credit facility, remaining borrowing capacity	32,600,000
Line of credit facility, covenant, minimum consolidated net worth	$ 367,100,000
Line of credit facility, covenant, minimum consolidated net worth, percentage of equity issuance (percentage)	75.00%
Debt Instrument, covenant, unsecured debt to unencumbered asset value ratio (less than)	60.00%
Debt instrument, covenant, debt service coverage ratio (greater than)	1.75
Debt instrument, covenant, secured leverage ratio (equal to or less than)	40.00%
Debt instrument, covenant, secured recourse debt coverage ratio (no greater than)	15.00%
Line of credit | JPMorgan Chase Bank, N.A. | Minimum
Debt Instrument
Debt instrument, covenant, fixed charge coverage ratio (equal to or greater than)	1.50
Line of credit | JPMorgan Chase Bank, N.A. | Maximum
Debt Instrument
Line of credit facility, covenant, leverage ratio (less than or equal to)	60.00%
Line of credit | JPMorgan Chase Bank, N.A. | Federal Funds Effective Rate
Debt Instrument
Basis spread on variable rate (percentage)	0.50%
Line of credit | JPMorgan Chase Bank, N.A. | LIBOR
Debt Instrument
Basis spread on variable rate (percentage)	1.00%
Line of credit | JPMorgan Chase Bank, N.A. | Revolving credit facility
Debt Instrument
Line of credit facility, maximum borrowing capacity	$ 212,500,000
Number of extension options | extension	2
Debt instrument, extension term	6 months
Interest rate (percentage)	2.20%
Line of credit | JPMorgan Chase Bank, N.A. | Revolving credit facility | Minimum
Debt Instrument
Debt instrument, interest rate, stated percentage (percentage)	0.70%
Line of credit | JPMorgan Chase Bank, N.A. | Revolving credit facility | Maximum
Debt Instrument
Debt instrument, interest rate, stated percentage (percentage)	1.20%
Line of credit | JPMorgan Chase Bank, N.A. | Revolving credit facility | Statutory Reserve Rate | Minimum
Debt Instrument
Basis spread on variable rate (percentage)	1.70%
Line of credit | JPMorgan Chase Bank, N.A. | Revolving credit facility | Statutory Reserve Rate | Maximum
Debt Instrument
Basis spread on variable rate (percentage)	2.20%
Line of credit | JPMorgan Chase Bank, N.A. | Term Loan
Debt Instrument
Line of credit facility, maximum borrowing capacity	$ 212,500,000
Notes payable and credit facility, net	$ 212,500,000
Line of credit | JPMorgan Chase Bank, N.A. | Term Loan | Interest rate swaps | Cash Flow Hedging
Debt Instrument
Weighted average interest rate (percentage)	4.25%
Line of credit | JPMorgan Chase Bank, N.A. | Term Loan | Minimum
Debt Instrument
Debt instrument, interest rate, stated percentage (percentage)	0.60%
Line of credit | JPMorgan Chase Bank, N.A. | Term Loan | Maximum
Debt Instrument
Debt instrument, interest rate, stated percentage (percentage)	1.10%
Line of credit | JPMorgan Chase Bank, N.A. | Term Loan | Statutory Reserve Rate | Minimum
Debt Instrument
Basis spread on variable rate (percentage)	1.60%
Line of credit | JPMorgan Chase Bank, N.A. | Term Loan | Statutory Reserve Rate | Maximum
Debt Instrument
Basis spread on variable rate (percentage)	2.10%

CREDIT FACILITY AND NOTES PAY_6

CREDIT FACILITY AND NOTES PAYABLE (Maturities) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument
Notes payable and credit facility, net	$ 449,378	$ 348,939
Line of credit
Debt Instrument
Notes payable and credit facility, net	109,000
Fixed rate debt
Debt Instrument
Fixed rate debt maturing	$ 20,400

CREDIT FACILITY AND NOTES PAY_7

CREDIT FACILITY AND NOTES PAYABLE (Schedule Of Aggregate Principal Repayments) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Principal Repayments
2021	$ 129,442
2022	304,327
2023	0
2024	0
2025	16,950
Thereafter	0
Total	$ 450,719	$ 350,959

SUPPLEMENTAL CASH FLOW DISCLO_3

SUPPLEMENTAL CASH FLOW DISCLOSURES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Change in accrued dealer manager fees, ongoing stockholder servicing fees, and other offering costs	$ 613	$ 3,867	$ (2,236)
Distributions to stockholders declared and unpaid	4,887	2,814	2,719
Common stock issued through distribution reinvestment plan	13,108	16,201	13,774
Redemptions to stockholders declared and unpaid	2,082	0	0
Change in fair value of marketable securities	568	265	85
Change in fair value of interest rate swaps	(3,626)	(5,540)	(1,044)
Accrued deferred financing costs	1	0	9
Supplemental Cash Flow Disclosures:
Interest paid	16,115	14,115	13,273
Cash paid for taxes	$ 197	$ 179	$ 184

RELATED-PARTY TRANSACTIONS AN_3

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS (Selling Commissions, Dealer Manager and Distribution Fees) (Details) - Dealer manager	Dec. 31, 2020	Feb. 28, 2020	Feb. 27, 2020
Upfront selling commissions
Related Party Transaction
Daily asset based related party fee reallowed to third party percent	100.00%
Ongoing Stockholder Servicing Fees
Related Party Transaction
Daily distribution and servicing fee, termination of payments threshold, percent	8.75%
D Shares Common Stock | Upfront selling commissions
Related Party Transaction
Expenses from transaction with related party, percent	0.00%	0.00%	1.50%
D Shares Common Stock | Dealer Manager Fees
Related Party Transaction
Expenses from transaction with related party, percent	0.00%
D Shares Common Stock | Ongoing Stockholder Servicing Fees
Related Party Transaction
Expenses from transaction with related party, percent	0.25%
T Shares Common Stock | Upfront selling commissions
Related Party Transaction
Expenses from transaction with related party, percent	3.00%
T Shares Common Stock | Dealer Manager Fees
Related Party Transaction
Expenses from transaction with related party, percent	0.50%
T Shares Common Stock | Ongoing Stockholder Servicing Fees
Related Party Transaction
Expenses from transaction with related party, percent	0.85%
S Shares Common Stock | Upfront selling commissions
Related Party Transaction
Expenses from transaction with related party, percent	3.50%
S Shares Common Stock | Dealer Manager Fees
Related Party Transaction
Expenses from transaction with related party, percent	0.00%
S Shares Common Stock | Ongoing Stockholder Servicing Fees
Related Party Transaction
Expenses from transaction with related party, percent	0.85%
I Shares Common Stock | Upfront selling commissions
Related Party Transaction
Expenses from transaction with related party, percent	0.00%
I Shares Common Stock | Dealer Manager Fees
Related Party Transaction
Expenses from transaction with related party, percent	0.00%
I Shares Common Stock | Ongoing Stockholder Servicing Fees
Related Party Transaction
Expenses from transaction with related party, percent	0.00%

RELATED-PARTY TRANSACTIONS AN_4

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS (Other Organization and Offering Expenses and Advisory Fees and Expenses) (Details) - USD ($) $ in Thousands	11 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Feb. 28, 2020	Feb. 27, 2020
Related Party Transaction
Issuance cost		$ 20,976	$ 95,942	$ 167,608
Upfront selling commissions | D Shares Common Stock
Related Party Transaction
Distribution and stockholder servicing fee, percentage of net asset value, daily accrual rate (percentage)		0.00274%
Advisory Fees and Expenses | I Shares Common Stock
Related Party Transaction
Equity-based payments to advisor (in shares)		41,000
Issuance cost		$ 700
Advisors | I Shares Common Stock | Subsequent Event
Related Party Transaction
Advisory fee percentage	50.00%
Advisors | Organization and offering expense reimbursement
Related Party Transaction
Organization and offering expense limit (up to)		0.75%
Dealer manager | Upfront selling commissions | D Shares Common Stock
Related Party Transaction
Expenses from transaction with related party, percent		0.00%			0.00%	1.50%
Dealer manager | Upfront selling commissions | I Shares Common Stock
Related Party Transaction
Expenses from transaction with related party, percent		0.00%

RELATED-PARTY TRANSACTIONS AN_5

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS (Operating Expenses and Acquisition Expenses) (Details) - Advisors	Dec. 31, 2020
Operating expenses
Related Party Transaction
Operating expense reimbursement percent of average invested assets (percentage)	2.00%
Operating expense reimbursement percent of net income (percentage)	25.00%
Acquisition expense reimbursement
Related Party Transaction
Acquisition and advisory fee (maximum)	6.00%

RELATED-PARTY TRANSACTIONS AN_6

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS (Performance Fee) (Details) - $ / shares	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
D Shares Common Stock
Related Party Transaction
Share price, base net asset value (in dollars per share)	$ 15
T Shares Common Stock
Related Party Transaction
Share price, base net asset value (in dollars per share)	16.72
I Shares Common Stock
Related Party Transaction
Share price, base net asset value (in dollars per share)	$ 16.82
Advisors | Operating expenses
Related Party Transaction
Operating expense reimbursement percent of net income (percentage)	25.00%
Minimum | Advisors
Related Party Transaction
Total return threshold to receive performance fee (percentage)				6.00%
Operating expense reimbursement percent of net income (percentage)				25.00%
Minimum | Advisors | Performance fee
Related Party Transaction
Total return threshold to receive performance fee (percentage)			12.50%
Performance fee limit to advisor, hurdle amount, as percent of excess total return (percentage)	5.00%	5.00%
Maximum | Advisors
Related Party Transaction
Total return threshold to receive performance fee (percentage)				10.00%

RELATED-PARTY TRANSACTIONS AN_7

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS (Schedule of Related Party Transaction) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Related Party Transaction
Due to affiliates	$ 13,826	$ 16,567
Advisors | Upfront selling commissions
Related Party Transaction
Related party transaction, expenses from transactions with related party	396	1,488	$ 2,797
Advisors | Stockholder servicing fees
Related Party Transaction
Related party transaction, expenses from transactions with related party	2,574	2,910	1,126
Advisors | Dealer manager fee
Related Party Transaction
Related party transaction, expenses from transactions with related party	69	267	2,609
Advisors | Organization and offering expense reimbursement
Related Party Transaction
Related party transaction, expenses from transactions with related party	253	830	1,339
Advisors | Acquisition expense reimbursement
Related Party Transaction
Related party transaction, expenses from transactions with related party	714	1,217	1,722
Advisors | Advisory fee
Related Party Transaction
Related party transaction, expenses from transactions with related party	6,382	7,902	5,858
Advisors | Operating expense reimbursement
Related Party Transaction
Related party transaction, expenses from transactions with related party	861	2,388	$ 2,652
Dealer manager
Related Party Transaction
Due to affiliates	$ 11,900	$ 13,900

RELATED-PARTY TRANSACTIONS AN_8

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS (Due to/from Affiliates) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction
Due from CIM Income NAV Advisors	$ 7	$ 8
Advisors
Related Party Transaction
Due to CIM Income NAV Advisors	13,800	16,600
Due from CIM Income NAV Advisors	$ 7	$ 8

RELATED-PARTY TRANSACTIONS AN_9

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS (CIM UII Onshore Investment) (Details) - USD ($) $ in Thousands	Sep. 27, 2019	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments
Carrying value		$ 46,680	$ 0
CIM UII Onshore
Schedule of Equity Method Investments
Payments to acquire investments	$ 50,000	$ 49,300

STOCKHOLDERS' EQUITY (Narrative

STOCKHOLDERS' EQUITY (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Common stock and preferred stock, shares authorized (up to, in shares)	500,000,000
Common stock, shares authorized (in shares)	490,000,000
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, par value (in dollars per share)	$ 0.01
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Issuance of common stock (in shares)	2,000,000
Issuance of common stock	$ 34,084	$ 112,143	$ 181,382
Shares issued (in shares)	48,800,000
Proceeds from issuance of common stock	$ 878,200
D Shares Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	122,500,000	122,500,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Shares issued (in shares)	15,318,506	18,143,147
Common stock, shares outstanding (in shares)	15,318,506	18,143,147
D Shares Common Stock | Management
Class of Stock [Line Items]
Common stock, shares outstanding (in shares)	13,333
T Shares Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	122,500,000	122,500,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Shares issued (in shares)	13,778,134	14,499,636
Common stock, shares outstanding (in shares)	13,778,134	14,499,636
S Shares Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	122,500,000	122,500,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Shares issued (in shares)	7,399	7,031
Common stock, shares outstanding (in shares)	7,399	7,031
I Shares Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	122,500,000	122,500,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Shares issued (in shares)	1,011,342	1,097,896
Common stock, shares outstanding (in shares)	1,011,342	1,097,896

STOCKHOLDERS' EQUITY (Issuances

STOCKHOLDERS' EQUITY (Issuances and Redemptions of Common Stock) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance	$ 416,766	$ 430,090	$ 335,446
Issuance of common stock (in shares)	2,000,000
Issuance of common stock	$ 34,084	112,143	181,382
Redemptions of common stock (in shares)	(16,800,000)
Redemptions of common stock	$ (97,457)	(95,388)	(48,250)
Equity-based compensation	180	131	33
Equity-based payments to advisor	700
Balance	$ 358,274	$ 416,766	$ 430,090
D Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, shares (in shares)	18,143,147
Balance, shares (in shares)	15,318,506	18,143,147
T Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, shares (in shares)	14,499,636
Balance, shares (in shares)	13,778,134	14,499,636
S Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, shares (in shares)	7,031
Balance, shares (in shares)	7,399	7,031
I Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, shares (in shares)	1,097,896
Balance, shares (in shares)	1,011,342	1,097,896
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, shares (in shares)	33,747,710	32,879,581	25,695,557
Balance	$ 337	$ 329	$ 257
Issuance of common stock (in shares)	1,951,610	6,258,770	9,831,064
Issuance of common stock	$ 19	$ 63	$ 98
Conversion of shares (in shares)	(400)		(108)
Conversion of shares	$ 0		$ 0
Redemptions of common stock (in shares)	(5,635,111)	(5,398,065)	(2,654,144)
Redemptions of common stock	$ (55)	$ (55)	$ (26)
Equity-based compensation (in shares)	10,691	7,424	7,212
Equity-based compensation	$ 0	$ 0	$ 0
Equity-based payments to advisor (in shares)	40,881
Equity-based payments to advisor	$ 0
Balance, shares (in shares)	30,115,381	33,747,710	32,879,581
Balance	$ 301	$ 337	$ 329
Common Stock | D Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, shares (in shares)	18,143,147	18,942,529	15,837,102
Balance	$ 181	$ 189	$ 158
Issuance of common stock (in shares)	751,336	2,670,861	4,853,772
Issuance of common stock	$ 8	$ 27	$ 48
Conversion of shares (in shares)	(25,087)		(8,997)
Conversion of shares	$ 0		$ 0
Redemptions of common stock (in shares)	(3,561,581)	(3,477,667)	(1,746,560)
Redemptions of common stock	$ (36)	$ (35)	$ (17)
Equity-based compensation (in shares)	10,691	7,424	7,212
Equity-based compensation	$ 0	$ 0	$ 0
Equity-based payments to advisor (in shares)	0
Equity-based payments to advisor	$ 0
Balance, shares (in shares)	15,318,506	18,143,147	18,942,529
Balance	$ 153	$ 181	$ 189
Common Stock | T Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, shares (in shares)	14,499,636	12,777,322	8,793,223
Balance	$ 145	$ 128	$ 88
Issuance of common stock (in shares)	1,164,339	3,471,200	4,719,621
Issuance of common stock	$ 11	$ 35	$ 47
Conversion of shares (in shares)	0		0
Conversion of shares	$ 0		$ 0
Redemptions of common stock (in shares)	(1,885,841)	(1,748,886)	(735,522)
Redemptions of common stock	$ (18)	$ (18)	$ (7)
Equity-based compensation (in shares)	0	0	0
Equity-based compensation	$ 0	$ 0	$ 0
Equity-based payments to advisor (in shares)	0
Equity-based payments to advisor	$ 0
Balance, shares (in shares)	13,778,134	14,499,636	12,777,322
Balance	$ 138	$ 145	$ 128
Common Stock | S Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, shares (in shares)	7,031	0	0
Balance	$ 0	$ 0	$ 0
Issuance of common stock (in shares)	368	7,031	0
Issuance of common stock	$ 0	$ 0	$ 0
Conversion of shares (in shares)	0		0
Conversion of shares	$ 0		$ 0
Redemptions of common stock (in shares)	0	0	0
Redemptions of common stock	$ 0	$ 0	$ 0
Equity-based compensation (in shares)	0	0	0
Equity-based compensation	$ 0	$ 0	$ 0
Equity-based payments to advisor (in shares)	0
Equity-based payments to advisor	$ 0
Balance, shares (in shares)	7,399	7,031	0
Balance	$ 0	$ 0	$ 0
Common Stock | I Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, shares (in shares)	1,097,896	1,159,730	1,065,232
Balance	$ 11	$ 12	$ 11
Issuance of common stock (in shares)	35,567	109,678	257,671
Issuance of common stock	$ 0	$ 1	$ 3
Conversion of shares (in shares)	24,687		8,889
Conversion of shares	$ 0		$ 0
Redemptions of common stock (in shares)	(187,689)	(171,512)	(172,062)
Redemptions of common stock	$ (1)	$ (2)	$ (2)
Equity-based compensation (in shares)	0	0	0
Equity-based compensation	$ 0	$ 0	$ 0
Equity-based payments to advisor (in shares)	40,881
Equity-based payments to advisor	$ 0
Balance, shares (in shares)	1,011,342	1,097,896	1,159,730
Balance	$ 10	$ 11	$ 12

STOCKHOLDERS' EQUITY (Distribut

STOCKHOLDERS' EQUITY (Distribution Reinvestment Plan) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Common stock issued through distribution reinvestment plan	$ 13,108	$ 16,201	$ 13,774
Common Stock
Class of Stock [Line Items]
Shares issued pursuant to a distribution reinvestment plan (in shares)	766,000	917,000	758,000
Common stock issued through distribution reinvestment plan	$ 13,100	$ 16,200	$ 13,800

STOCKHOLDERS' EQUITY (Share Red

STOCKHOLDERS' EQUITY (Share Redemption Program) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Mar. 29, 2021	Jul. 31, 2020	Dec. 31, 2017
Equity, Class of Treasury Stock [Line Items]
Share redemption program, monthly redemptions of aggregate net asset value, percentage					0.80%
Share redemption program, quarter redemptions of aggregate net asset value, percentage					2.00%
Stock redemption program, number of shares authorized to be repurchased, carryover percentage quarterly net asset value limitation	2.00%
Redeemable common stock	$ 10,040	$ 59,263
Redemptions (in shares)	16,800,000
Redeemed shares (in shares)	5,400,000
Redeemed shares, value	$ 93,600
Redeemed shares, price (in dollars per share)	$ 17.31
Redemptions, shares unfulfilled (in shares)	11,300,000
D Shares Common Stock
Equity, Class of Treasury Stock [Line Items]
Common stock, shares outstanding (in shares)	15,318,506	18,143,147
Subsequent Event
Equity, Class of Treasury Stock [Line Items]
Redeemed shares (in shares)				126,000
Redeemed shares, value				$ 2,100
Redeemed shares, price (in dollars per share)				$ 16.67
Common Stock
Equity, Class of Treasury Stock [Line Items]
Common stock, shares outstanding (in shares)	30,115,381	33,747,710	32,879,581			25,695,557
Excess of redemption limit (in shares)	11,300,000
Excess of redemption limit	$ 188,400
Redemptions (in shares)	5,635,111	5,398,065	2,654,144
Common Stock | D Shares Common Stock
Equity, Class of Treasury Stock [Line Items]
Common stock, shares outstanding (in shares)	15,318,506	18,143,147	18,942,529			15,837,102
Redemptions (in shares)	3,561,581	3,477,667	1,746,560

STOCKHOLDERS_ EQUITY (Distribut

STOCKHOLDERS’ EQUITY (Distributions Payable and Distribution Policy) (Details) - $ / shares	Jul. 23, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Distributions declared on common stock (in dollars per share)		$ 0.95		$ 0.98
T Shares Common Stock
Class of Stock [Line Items]
Distributions declared on common stock (in dollars per share)	$ 0.0839		$ 0.98
S Shares Common Stock
Class of Stock [Line Items]
Distributions declared on common stock (in dollars per share)	0.0839		0.22
D Shares Common Stock
Class of Stock [Line Items]
Distributions declared on common stock (in dollars per share)	0.0839		0.98
I Shares Common Stock
Class of Stock [Line Items]
Distributions declared on common stock (in dollars per share)	$ 0.0839		$ 0.98

STOCKHOLDERS' EQUITY (Equity Ba

STOCKHOLDERS' EQUITY (Equity Based Compensation) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Aug. 09, 2018
Board Of Directors | Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of compensation given out in shares (percentage)	50.00%
D Shares Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation period		$ 99
CIM Income NAV, Inc. 2018 Equity Incentive Plan | D Shares Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period to each independent members of the board of directors (in shares)		725
Total grants in period (in shares)		2,900
CIM Income NAV, Inc. 2018 Equity Incentive Plan | D Shares Common Stock | General and Administrative Expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense		$ 49
CIM Income NAV, Inc. 2018 Equity Incentive Plan | D Shares Common Stock | Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period to each independent members of the board of directors (in shares)		5,600
Total grants in period (in shares)		22,400
Awards vested in period (in shares)		14,600
Period of continuous service		1 year
Nonvested shares (in shares)		7,800
CIM Income NAV, Inc. 2018 Equity Incentive Plan | D Shares Common Stock | Restricted Shares | General and Administrative Expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense		$ 131	$ 131
CIM Income NAV, Inc. 2018 Equity Incentive Plan | Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)				400,000
Shares available for grant (in shares)		378,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Ordinary dividends	26.90%	38.90%	52.40%
Nondividend distributions	71.30%	43.10%	47.60%
Capital gain distributions	1.80%	18.00%	0.00%
Total	100.00%	100.00%	100.00%
State and local income tax and franchise tax expense	$ 152,000	$ 214,000	$ 182,000
Unrecognized tax benefits	$ 0	$ 0	$ 0

LEASES (Details)

LEASES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Weighted average remaining term of leases	9 years 9 months 18 days
Future Minimum Rental Income
2021	$ 62,374
2022	62,697
2023	62,710
2024	61,318
2025	57,480
Thereafter	335,208
Total	641,787
Rental and Other Property Income
Fixed rental and other property income	63,782	$ 68,815	$ 63,669
Variable rental and other property income	8,814	8,791	7,109
Total rental and other property income	$ 72,596	$ 77,606	$ 70,778

QUARTERLY RESULTS (UNAUDITED)_2

QUARTERLY RESULTS (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Revenues	$ 18,152	$ 18,875	$ 17,236	$ 18,678	$ 19,633	$ 19,350	$ 19,288	$ 19,541
Net (loss) income	2,062	1,729	(11,292)	(3,510)	24	7,678	5,453	1,636	$ (11,011)	$ 14,791	$ 5,195
Net (loss) income attributable to the Company	$ 2,051	$ 1,721	$ (11,301)	$ (3,514)	$ 9	$ 7,669	$ 5,445	$ 1,627	(11,043)	14,750	5,158
D Shares Common Stock
Class of Stock [Line Items]
Net (loss) income attributable to the Company									$ (5,586)	$ 8,304	$ 3,165
Basic and diluted net (loss) income per share (in dollars per share)	$ 0.07	$ 0.06	$ (0.36)	$ (0.10)	$ 0	$ 0.23	$ 0.16	$ 0.05	$ (0.34)	$ 0.44	$ 0.18
T Shares Common Stock
Class of Stock [Line Items]
Net (loss) income attributable to the Company									$ (5,142)	$ 5,933	$ 1,794
Basic and diluted net (loss) income per share (in dollars per share)	0.06	0.05	(0.36)	(0.11)	0	0.22	0.16	0.05	$ (0.36)	$ 0.42	$ 0.17
S Shares Common Stock
Class of Stock [Line Items]
Net (loss) income attributable to the Company									$ (3)	$ 1	$ 0
Basic and diluted net (loss) income per share (in dollars per share)	0.02	0.10	(0.51)	(0.07)	0.10	0	0	0	$ (0.47)	$ 0.84	$ 0
I Shares Common Stock
Class of Stock [Line Items]
Net (loss) income attributable to the Company									$ (312)	$ 512	$ 199
Basic and diluted net (loss) income per share (in dollars per share)	$ 0.08	$ 0.06	$ (0.35)	$ (0.10)	$ 0.01	$ 0.23	$ 0.17	$ 0.05	$ (0.32)	$ 0.46	$ 0.19

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details)	3 Months Ended	12 Months Ended
	Mar. 29, 2021USD ($)property	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Subsequent Event [Line Items]
Net proceeds from disposition of real estate assets		$ 15,900,000	$ 88,100,000	$ 36,400,000
Subsequent Event
Subsequent Event [Line Items]
Number of properties disposed | property	1
Total sale price	$ 1,100,000
Net proceeds from disposition of real estate assets	1,000,000
Gain on disposition of real estate assets	10,000
Affiliated Entity | Disposition Fees Expense | Subsequent Event
Subsequent Event [Line Items]
Related party transaction, expenses from transactions with related party	$ 0

SCHEDULE III _ REAL ESTATE AS_2

SCHEDULE III – REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Real Estate and Accumulated Depreciation
Encumbrances	$ 129,219
Initial Costs to Company
Land	142,392
Buildings and Improvements	640,273
Total Adjustment to Basis	(10,831)
Gross Amount Carried At December 31, 2020	771,834	$ 801,581	$ 798,969	$ 618,085
Accumulated Depreciation	70,087	54,794	$ 41,645	$ 26,073
Intangible lease assets	106,739	112,718
Accumulated amortization	31,900
Property, plant, and equipment, land and real estate assets, aggregate tax basis	790,900
Notes payable and credit facility, net	449,378	$ 348,939
Line of credit
Initial Costs to Company
Notes payable and credit facility, net	109,000
JPMorgan Chase Bank, N.A. | Line of credit
Initial Costs to Company
Notes payable and credit facility, net	$ 321,500
Buildings
Initial Costs to Company
Acquired real estate asset, useful life	40 years
Site improvements
Initial Costs to Company
Acquired real estate asset, useful life	15 years
Retail Site
Initial Costs to Company
Number of properties | property	97
Anchored Shopping Center
Initial Costs to Company
Number of properties | property	4
Industrial Property
Initial Costs to Company
Number of properties | property	11
Office
Initial Costs to Company
Number of properties | property	11
24 Hour Fitness | Orlando, FL
Initial Costs to Company
Land	$ 2,528
Buildings and Improvements	7,272
Total Adjustment to Basis	(5,725)
Gross Amount Carried At December 31, 2020	4,075
Accumulated Depreciation	42
AAA Office Park | Hamilton, NJ
Initial Costs to Company
Land	3,254
Buildings and Improvements	25,221
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	28,475
Accumulated Depreciation	2,468
Advance Auto | Macomb Township, MI
Initial Costs to Company
Land	718
Buildings and Improvements	1,146
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,864
Accumulated Depreciation	280
Advance Auto | Ravenswood, WV
Initial Costs to Company
Land	150
Buildings and Improvements	645
Total Adjustment to Basis	(137)
Gross Amount Carried At December 31, 2020	658
Accumulated Depreciation	14
Advance Auto | Sedalia, MO
Initial Costs to Company
Land	374
Buildings and Improvements	1,187
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,561
Accumulated Depreciation	236
AK Steel | West Chester, OH
Initial Costs to Company
Land	1,028
Buildings and Improvements	19,914
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	20,942
Accumulated Depreciation	1,925
Amcor Rigid Plastics | Ames, IA
Real Estate and Accumulated Depreciation
Encumbrances	8,300
Initial Costs to Company
Land	775
Buildings and Improvements	12,179
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	12,954
Accumulated Depreciation	1,916
Apex Technologies | Mason, OH
Initial Costs to Company
Land	997
Buildings and Improvements	11,657
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	12,654
Accumulated Depreciation	1,111
AutoZone | Vandalia, OH
Real Estate and Accumulated Depreciation
Encumbrances	532
Initial Costs to Company
Land	778
Buildings and Improvements	0
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	778
Accumulated Depreciation	0
Bank of America | Fairview Park, OH
Initial Costs to Company
Land	646
Buildings and Improvements	830
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,476
Accumulated Depreciation	155
BioLife Plasma Services | Fort Wayne, IN
Initial Costs to Company
Land	691
Buildings and Improvements	2,662
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	3,353
Accumulated Depreciation	324
BioLife Plasma Services | Moorhead, MN
Initial Costs to Company
Land	727
Buildings and Improvements	3,109
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	3,836
Accumulated Depreciation	365
Bob Evans | Defiance, OH
Initial Costs to Company
Land	391
Buildings and Improvements	1,674
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	2,065
Accumulated Depreciation	217
Bob Evans | Dover, OH
Initial Costs to Company
Land	362
Buildings and Improvements	1,495
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,857
Accumulated Depreciation	189
Bob Evans | Dundee, MI
Initial Costs to Company
Land	403
Buildings and Improvements	1,438
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,841
Accumulated Depreciation	172
Bob Evans | Hamilton, OH
Initial Costs to Company
Land	393
Buildings and Improvements	1,305
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,698
Accumulated Depreciation	168
Bob Evans | Hummelstown, PA
Initial Costs to Company
Land	1,184
Buildings and Improvements	1,165
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	2,349
Accumulated Depreciation	133
Bob Evans | Mayfield Heights, OH
Initial Costs to Company
Land	721
Buildings and Improvements	919
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,640
Accumulated Depreciation	119
Burger King | Midwest City, OK
Real Estate and Accumulated Depreciation
Encumbrances	765
Initial Costs to Company
Land	576
Buildings and Improvements	413
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	989
Accumulated Depreciation	66
Caliber Collision | Houston, TX
Initial Costs to Company
Land	466
Buildings and Improvements	4,929
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	5,395
Accumulated Depreciation	603
Caliber Collision | San Antonio, TX
Initial Costs to Company
Land	196
Buildings and Improvements	2,918
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	3,114
Accumulated Depreciation	330
Caliber Collision | Venice, FL
Initial Costs to Company
Land	857
Buildings and Improvements	2,662
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	3,519
Accumulated Depreciation	330
CarMax | Tinley Park, IL
Real Estate and Accumulated Depreciation
Encumbrances	15,800
Initial Costs to Company
Land	3,282
Buildings and Improvements	21,974
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	25,256
Accumulated Depreciation	2,261
Carrier Rental Systems | Houston, TX
Real Estate and Accumulated Depreciation
Encumbrances	2,800
Initial Costs to Company
Land	749
Buildings and Improvements	3,832
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	4,581
Accumulated Depreciation	619
Cottage Plaza | Pawtucket, RI
Initial Costs to Company
Land	5,431
Buildings and Improvements	15,582
Total Adjustment to Basis	8
Gross Amount Carried At December 31, 2020	21,021
Accumulated Depreciation	1,707
CVS | Austin, TX
Real Estate and Accumulated Depreciation
Encumbrances	1,830
Initial Costs to Company
Land	1,417
Buildings and Improvements	1,579
Total Adjustment to Basis	81
Gross Amount Carried At December 31, 2020	3,077
Accumulated Depreciation	377
CVS | Erie, PA
Initial Costs to Company
Land	1,007
Buildings and Improvements	1,157
Total Adjustment to Basis	63
Gross Amount Carried At December 31, 2020	2,227
Accumulated Depreciation	271
CVS | Mansfield, OH
Initial Costs to Company
Land	270
Buildings and Improvements	1,691
Total Adjustment to Basis	81
Gross Amount Carried At December 31, 2020	2,042
Accumulated Depreciation	396
CVS | Wisconsin Rapids, WA
Real Estate and Accumulated Depreciation
Encumbrances	1,790
Initial Costs to Company
Land	517
Buildings and Improvements	2,148
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	2,665
Accumulated Depreciation	391
DaVita Dialysis | Austell, GA
Initial Costs to Company
Land	581
Buildings and Improvements	2,359
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	2,940
Accumulated Depreciation	403
Dollar General | Erie, IL
Initial Costs to Company
Land	67
Buildings and Improvements	974
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,041
Accumulated Depreciation	119
Dollar General | Gladwin, MI
Real Estate and Accumulated Depreciation
Encumbrances	780
Initial Costs to Company
Land	121
Buildings and Improvements	1,119
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,240
Accumulated Depreciation	209
Dollar General | Glasford, IL
Initial Costs to Company
Land	167
Buildings and Improvements	904
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,071
Accumulated Depreciation	111
Dollar General | Independence, MO
Real Estate and Accumulated Depreciation
Encumbrances	837
Initial Costs to Company
Land	276
Buildings and Improvements	1,017
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,293
Accumulated Depreciation	213
Dollar General | Lexington, MI
Real Estate and Accumulated Depreciation
Encumbrances	707
Initial Costs to Company
Land	89
Buildings and Improvements	1,033
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,122
Accumulated Depreciation	194
Dollar General | New Richland, MN
Initial Costs to Company
Land	173
Buildings and Improvements	900
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,073
Accumulated Depreciation	111
Dollar General | Ocala, FL
Initial Costs to Company
Land	205
Buildings and Improvements	1,308
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,513
Accumulated Depreciation	225
Dollar General | Pine River, MN
Initial Costs to Company
Land	230
Buildings and Improvements	872
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,102
Accumulated Depreciation	111
Dollar General | Redfield, SD
Initial Costs to Company
Land	43
Buildings and Improvements	839
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	882
Accumulated Depreciation	145
Dollar General | Stacy, MN
Real Estate and Accumulated Depreciation
Encumbrances	658
Initial Costs to Company
Land	84
Buildings and Improvements	810
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	894
Accumulated Depreciation	127
Dollar General | Starbuck, MN
Initial Costs to Company
Land	76
Buildings and Improvements	946
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,022
Accumulated Depreciation	120
Dollar General | St. Joseph, MO
Initial Costs to Company
Land	197
Buildings and Improvements	972
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,169
Accumulated Depreciation	202
Dollar General | Topeka, KS
Real Estate and Accumulated Depreciation
Encumbrances	794
Initial Costs to Company
Land	176
Buildings and Improvements	882
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,058
Accumulated Depreciation	150
Dollar General | Trimble, MO
Initial Costs to Company
Land	212
Buildings and Improvements	802
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,014
Accumulated Depreciation	96
Dollar General | Wheaton, MN
Initial Costs to Company
Land	134
Buildings and Improvements	874
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,008
Accumulated Depreciation	111
Dollar General | Winthrop, MN
Initial Costs to Company
Land	130
Buildings and Improvements	876
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,006
Accumulated Depreciation	112
Duluth Trading | Arlington, TX
Initial Costs to Company
Land	1,123
Buildings and Improvements	3,859
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	4,982
Accumulated Depreciation	291
Duluth Trading | Wichita, KS
Initial Costs to Company
Land	1,252
Buildings and Improvements	3,405
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	4,657
Accumulated Depreciation	163
Enid Crossing | Enid, OK
Real Estate and Accumulated Depreciation
Encumbrances	3,407
Initial Costs to Company
Land	685
Buildings and Improvements	4,426
Total Adjustment to Basis	515
Gross Amount Carried At December 31, 2020	5,626
Accumulated Depreciation	938
Family Dollar | Centreville, AL
Initial Costs to Company
Land	50
Buildings and Improvements	1,122
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,172
Accumulated Depreciation	196
Family Dollar | Danville, VA
Initial Costs to Company
Land	228
Buildings and Improvements	774
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,002
Accumulated Depreciation	166
Family Dollar | Darby, MT
Real Estate and Accumulated Depreciation
Encumbrances	881
Initial Costs to Company
Land	244
Buildings and Improvements	889
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,133
Accumulated Depreciation	159
Family Dollar | Denton, NC
Initial Costs to Company
Land	334
Buildings and Improvements	545
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	879
Accumulated Depreciation	109
Family Dollar | Deridder, LA
Initial Costs to Company
Land	183
Buildings and Improvements	746
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	929
Accumulated Depreciation	157
Family Dollar | Hampton, AR
Real Estate and Accumulated Depreciation
Encumbrances	651
Initial Costs to Company
Land	131
Buildings and Improvements	741
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	872
Accumulated Depreciation	163
Family Dollar | Londonderry, OH
Initial Costs to Company
Land	65
Buildings and Improvements	1,078
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,143
Accumulated Depreciation	214
Family Dollar | Tatum, NM
Real Estate and Accumulated Depreciation
Encumbrances	700
Initial Costs to Company
Land	130
Buildings and Improvements	805
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	935
Accumulated Depreciation	158
Family Dollar | West Portsmouth, OH
Initial Costs to Company
Land	214
Buildings and Improvements	768
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	982
Accumulated Depreciation	130
FedEx | Elko, NV
Initial Costs to Company
Land	186
Buildings and Improvements	2,024
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	2,210
Accumulated Depreciation	402
FedEx | Spirit Lake, IA
Initial Costs to Company
Land	115
Buildings and Improvements	2,501
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	2,616
Accumulated Depreciation	467
Fresh Thyme | Indianapolis, IN
Real Estate and Accumulated Depreciation
Encumbrances	4,470
Initial Costs to Company
Land	1,074
Buildings and Improvements	7,452
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	8,526
Accumulated Depreciation	798
Fresh Thyme | Worthington, OH
Initial Costs to Company
Land	2,648
Buildings and Improvements	6,498
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	9,146
Accumulated Depreciation	763
H&E Equipment Services | Albuquerque, NM
Initial Costs to Company
Land	1,211
Buildings and Improvements	4,278
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	5,489
Accumulated Depreciation	521
H&E Equipment Services | Fort Myers, FL
Initial Costs to Company
Land	735
Buildings and Improvements	3,963
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	4,698
Accumulated Depreciation	368
H&E Equipment Services | Suwanee, GA
Initial Costs to Company
Land	1,020
Buildings and Improvements	3,505
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	4,525
Accumulated Depreciation	288
Hobby Lobby | Sedalia, MO
Initial Costs to Company
Land	478
Buildings and Improvements	3,976
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	4,454
Accumulated Depreciation	319
Hobby Lobby | Cadillac, MI
Initial Costs to Company
Land	480
Buildings and Improvements	4,382
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	4,862
Accumulated Depreciation	363
Hobby Lobby | Watertown, SD
Initial Costs to Company
Land	565
Buildings and Improvements	4,252
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	4,817
Accumulated Depreciation	370
Hobby Lobby | Willmar, MN
Initial Costs to Company
Land	1,289
Buildings and Improvements	3,721
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	5,010
Accumulated Depreciation	346
Jewel-Osco | Spring Grove, IL
Initial Costs to Company
Land	739
Buildings and Improvements	9,530
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	10,269
Accumulated Depreciation	584
Jewel-Osco | Wood Dale, IL
Initial Costs to Company
Land	3,368
Buildings and Improvements	6,146
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	9,514
Accumulated Depreciation	375
Jo-Ann's | Roseville, MI
Initial Costs to Company
Land	506
Buildings and Improvements	2,747
Total Adjustment to Basis	200
Gross Amount Carried At December 31, 2020	3,453
Accumulated Depreciation	630
Kloeckner | University Park, IL
Initial Costs to Company
Land	816
Buildings and Improvements	11,887
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	12,703
Accumulated Depreciation	748
Kum & Go | Cedar Rapids, IA
Real Estate and Accumulated Depreciation
Encumbrances	1,501
Initial Costs to Company
Land	630
Buildings and Improvements	1,679
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	2,309
Accumulated Depreciation	342
LA Fitness | Pawtucket, RI
Initial Costs to Company
Land	5,556
Buildings and Improvements	7,071
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	12,627
Accumulated Depreciation	1,220
LA Fitness | Rock Hill, SC
Initial Costs to Company
Land	630
Buildings and Improvements	7,858
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	8,488
Accumulated Depreciation	917
Levin Furniture | Monroeville, PA
Initial Costs to Company
Land	1,023
Buildings and Improvements	9,607
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	10,630
Accumulated Depreciation	841
Lowe's | Fremont, OH
Real Estate and Accumulated Depreciation
Encumbrances	5,312
Initial Costs to Company
Land	1,287
Buildings and Improvements	7,125
Total Adjustment to Basis	278
Gross Amount Carried At December 31, 2020	8,690
Accumulated Depreciation	1,576
Lowe's | North Dartmouth, MA
Initial Costs to Company
Land	7,334
Buildings and Improvements	11,976
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	19,310
Accumulated Depreciation	1,682
Marshalls | Wilkesboro, NC
Initial Costs to Company
Land	968
Buildings and Improvements	1,775
Total Adjustment to Basis	155
Gross Amount Carried At December 31, 2020	2,898
Accumulated Depreciation	231
Mattress Firm | Gadsden, AL
Initial Costs to Company
Land	393
Buildings and Improvements	1,413
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,806
Accumulated Depreciation	282
Mattress Firm & Panera Bread | Elyria, OH
Initial Costs to Company
Land	1,100
Buildings and Improvements	2,836
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	3,936
Accumulated Depreciation	416
Mister Carwash | Hudson, FL
Initial Costs to Company
Land	1,014
Buildings and Improvements	843
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,857
Accumulated Depreciation	91
Mister Carwash | Spring Hill, FL
Initial Costs to Company
Land	961
Buildings and Improvements	1,156
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	2,117
Accumulated Depreciation	124
National Tire & Battery | Conyers, GA
Real Estate and Accumulated Depreciation
Encumbrances	1,657
Initial Costs to Company
Land	522
Buildings and Improvements	1,845
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	2,367
Accumulated Depreciation	307
Natural Grocers | Prescott, AZ
Real Estate and Accumulated Depreciation
Encumbrances	2,367
Initial Costs to Company
Land	795
Buildings and Improvements	2,802
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	3,597
Accumulated Depreciation	626
North Lake Square | Gainesville, GA
Real Estate and Accumulated Depreciation
Encumbrances	13,365
Initial Costs to Company
Land	1,318
Buildings and Improvements	22,598
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	23,916
Accumulated Depreciation	2,277
Northern Tool | Hoover, AK
Initial Costs to Company
Land	691
Buildings and Improvements	2,150
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	2,841
Accumulated Depreciation	375
O'Reilly Auto Parts | Decatur, GA
Initial Costs to Company
Land	491
Buildings and Improvements	985
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,476
Accumulated Depreciation	111
O'Reilly Auto Parts | Fayetteville, NC
Initial Costs to Company
Land	132
Buildings and Improvements	1,246
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,378
Accumulated Depreciation	213
PetSmart | Lexington, NC
Initial Costs to Company
Land	605
Buildings and Improvements	3,162
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	3,767
Accumulated Depreciation	406
PetSmart | McAllen, TX
Real Estate and Accumulated Depreciation
Encumbrances	2,924
Initial Costs to Company
Land	1,961
Buildings and Improvements	1,994
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	3,955
Accumulated Depreciation	516
Procter & Gamble | Fayetteville, AR
Initial Costs to Company
Land	1,757
Buildings and Improvements	8,663
Total Adjustment to Basis	485
Gross Amount Carried At December 31, 2020	10,905
Accumulated Depreciation	757
Raising Canes | Avondale, AZ
Initial Costs to Company
Land	1,435
Buildings and Improvements	1,857
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	3,292
Accumulated Depreciation	308
Republic Services | Scottsdale, AZ
Initial Costs to Company
Land	10,961
Buildings and Improvements	32,089
Total Adjustment to Basis	3,644
Gross Amount Carried At December 31, 2020	46,694
Accumulated Depreciation	1,726
Sam's Club | Timonium, MD
Real Estate and Accumulated Depreciation
Encumbrances	9,150
Initial Costs to Company
Land	6,194
Buildings and Improvements	11,042
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	17,236
Accumulated Depreciation	1,732
Sherwin-Williams | Pigeon Forge, TN
Initial Costs to Company
Land	392
Buildings and Improvements	661
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,053
Accumulated Depreciation	75
Sleepy's | Roanoke Rapids, NC
Initial Costs to Company
Land	238
Buildings and Improvements	1,267
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,505
Accumulated Depreciation	180
Steinhafels | Madison, WI
Initial Costs to Company
Land	3,257
Buildings and Improvements	11,607
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	14,864
Accumulated Depreciation	531
SuperValu | Oglesby, IL
Initial Costs to Company
Land	1,190
Buildings and Improvements	14,098
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	15,288
Accumulated Depreciation	897
Tailwinds | Denton, TX
Initial Costs to Company
Land	884
Buildings and Improvements	7,747
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	8,631
Accumulated Depreciation	1,232
Tellico Greens | Loudon, TN
Real Estate and Accumulated Depreciation
Encumbrances	3,000
Initial Costs to Company
Land	823
Buildings and Improvements	3,959
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	4,782
Accumulated Depreciation	727
Tempe Commerce | Tempe, AZ
Initial Costs to Company
Land	1,975
Buildings and Improvements	12,512
Total Adjustment to Basis	383
Gross Amount Carried At December 31, 2020	14,870
Accumulated Depreciation	1,292
Tempe Commerce | Tempe, AZ
Initial Costs to Company
Land	1,872
Buildings and Improvements	10,758
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	12,630
Accumulated Depreciation	823
Tempe Commerce | Miami Township, OH
Initial Costs to Company
Land	1,161
Buildings and Improvements	9,181
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	10,342
Accumulated Depreciation	1,223
The Toro Company | Windom, MN
Initial Costs to Company
Land	73
Buildings and Improvements	8,708
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	8,781
Accumulated Depreciation	1,030
Time Warner | Streetsboro, OH
Real Estate and Accumulated Depreciation
Encumbrances	3,543
Initial Costs to Company
Land	811
Buildings and Improvements	3,849
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	4,660
Accumulated Depreciation	639
Tire Centers | Decatur, AL
Real Estate and Accumulated Depreciation
Encumbrances	1,311
Initial Costs to Company
Land	208
Buildings and Improvements	1,329
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,537
Accumulated Depreciation	233
Title Resource Group | Mt. Laurel, NJ
Initial Costs to Company
Land	2,188
Buildings and Improvements	12,380
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	14,568
Accumulated Depreciation	2,526
TJ Maxx | Danville, IL
Initial Costs to Company
Land	271
Buildings and Improvements	2,528
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	2,799
Accumulated Depreciation	579
Triangle Town Place | Raleigh, NC
Real Estate and Accumulated Depreciation
Encumbrances	16,400
Initial Costs to Company
Land	4,694
Buildings and Improvements	23,044
Total Adjustment to Basis	(2,953)
Gross Amount Carried At December 31, 2020	24,785
Accumulated Depreciation	266
Valeo North American HQ | Troy, MI
Initial Costs to Company
Land	1,564
Buildings and Improvements	11,662
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	13,226
Accumulated Depreciation	1,286
Valeo Production Facility | East Liberty, OH
Initial Costs to Company
Land	268
Buildings and Improvements	5,564
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	5,832
Accumulated Depreciation	557
Valvoline HQ | Lexington, KY
Initial Costs to Company
Land	5,204
Buildings and Improvements	31,112
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	36,316
Accumulated Depreciation	2,932
Vacant | Nephi, UT
Initial Costs to Company
Land	180
Buildings and Improvements	2,872
Total Adjustment to Basis	(3,052)
Gross Amount Carried At December 31, 2020	0
Accumulated Depreciation	0
Vacant | Richmond, VA
Initial Costs to Company
Land	785
Buildings and Improvements	688
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	1,473
Accumulated Depreciation	80
Vacant | York, PA
Initial Costs to Company
Land	1,720
Buildings and Improvements	6,628
Total Adjustment to Basis	(4,857)
Gross Amount Carried At December 31, 2020	3,491
Accumulated Depreciation	61
Walgreens | Coweta, OK
Real Estate and Accumulated Depreciation
Encumbrances	2,600
Initial Costs to Company
Land	725
Buildings and Improvements	3,246
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	3,971
Accumulated Depreciation	533
Walgreens | Reidsville, NC
Real Estate and Accumulated Depreciation
Encumbrances	3,603
Initial Costs to Company
Land	610
Buildings and Improvements	3,801
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	4,411
Accumulated Depreciation	887
Walgreens | St. Louis, MO
Real Estate and Accumulated Depreciation
Encumbrances	2,534
Initial Costs to Company
Land	307
Buildings and Improvements	3,205
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	3,512
Accumulated Depreciation	514
Walmart | Randallstown, MD
Real Estate and Accumulated Depreciation
Encumbrances	14,250
Initial Costs to Company
Land	7,748
Buildings and Improvements	22,021
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	29,769
Accumulated Depreciation	2,479
Weasler Engineering | West Bend, WI
Initial Costs to Company
Land	600
Buildings and Improvements	12,732
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	13,332
Accumulated Depreciation	833
West Marine | Mystic, CT
Initial Costs to Company
Land	1,168
Buildings and Improvements	3,132
Total Adjustment to Basis	0
Gross Amount Carried At December 31, 2020	4,300
Accumulated Depreciation	$ 466

SCHEDULE III _ REAL ESTATE AS_3

SCHEDULE III – REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION (Reconciliation of Total Real Estate Carrying Value) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, beginning of period	$ 801,581	$ 798,969	$ 618,085
Additions
Acquisitions	0	72,371	221,951
Improvements	2,388	2,751	472
Total additions	2,388	75,122	222,423
Deductions
Dispositions	(16,635)	(68,722)	(39,272)
Impairments	(14,486)	(3,788)	(2,267)
Reclassified to assets held for sale	(1,014)	0	0
Total deductions	(32,135)	(72,510)	(41,539)
Balance, end of period	$ 771,834	$ 801,581	$ 798,969

SCHEDULE III _ REAL ESTATE AS_4

SCHEDULE III – REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION (Reconciliation of Accumulated Depreciation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, beginning of period	$ 54,794	$ 41,645	$ 26,073
Additions
Acquisitions - depreciation expense	18,219	18,468	17,099
Improvements - depreciation expense	1,780	1,769	1,327
Total additions	19,999	20,237	18,426
Deductions
Impairments	(2,983)	(1,230)	0
Dispositions	(1,718)	(5,858)	(2,854)
Reclassified to assets held for sale	(5)	0	0
Total deductions	(4,706)	(7,088)	(2,854)
Balance, end of period	$ 70,087	$ 54,794	$ 41,645